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Considering a laptop purchase

IcyCool7227
New Contributor

Considering a laptop purchase

I want to make a purchase of $356 for a Lenovo 2 in 1 laptop on my new Capital One SavorOne card. By doing that I would definitely get the $200 welcome bonus plus no interest for almost 15 months. My first bill is due on Feb. 16. If I made that purchase it would bring the balance to $529.20. The only other card balance I have is $195 on my Amazon card. Below are my current scores and credit limits in my signature.

 

I don't want to use up my credit utilization ratio on that computer purchase because it might drop my score down. However both Capital One account and the $1,000 Kohls CLI haven't been reported to the CBs yet. Would it be wiser to wait? I think it takes too long to report to them. I do have enough money to pay the balance right away.

 

I also found that while C1 doesn't accept debit cards for their payments I can pay it via debit as a flat $1.50 fee for a money bill service at my local grocer. With the 2% SuperCash hybrid card I can get cashback covering that fee plus profit.

As of: 3/11/23:

EQ: 647 - FICO 8
EX: 623 - FICO 8
TU: 699 - CreditKarma

Have:
- Amazon Prime Store Card: $3,000
- Capital One SavorOne Cash Rewards: $1,000
- Kohl’s Charge: $2,000
- Super Cash: Limit varies based on debit balance
- Tomo: $250
Message 1 of 5
4 REPLIES 4
FireMedic1
Community Leader
Super Contributor

Re: Considering a laptop purchase


@IcyCool7227 wrote:

I want to make a purchase of $356 for a Lenovo 2 in 1 laptop on my new Capital One SavorOne card. By doing that I would definitely get the $200 welcome bonus plus no interest for almost 15 months. My first bill is due on Feb. 16. If I made that purchase it would bring the balance to $529.20. The only other card balance I have is $195 on my Amazon card. Below are my current scores and credit limits in my signature.

 

I don't want to use up my credit utilization ratio on that computer purchase because it might drop my score down. However both Capital One account and the $1,000 Kohls CLI haven't been reported to the CBs yet. Would it be wiser to wait? I think it takes too long to report to them. I do have enough money to pay the balance right away.

 

I also found that while C1 doesn't accept debit cards for their payments I can pay it via debit as a flat $1.50 fee for a money bill service at my local grocer. With the 2% SuperCash hybrid card I can get cashback covering that fee plus profit.


Get the laptop. Get cash back. Enjoy it. Get a money order and mail it in. Paid. Laptop is $356. $200 welcome bonus. Cost $156. Win.




Homeowner since Sept 2020. 2021 Explorer ST Chase 3.1%. Sharing my experiences after BK from learning here. Started 540's.
Message 2 of 5
Shooting-For-800
Senior Contributor

Re: Considering a laptop purchase

You score has no memory.

If your score dips, it will rise as you pay your balances down.

GL!

Rebuild started in 2014  -  $100k unsecured credit in 2017  -  $400k unsecured credit in 2022.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!


Message 3 of 5
mgood
Valued Contributor

Re: Considering a laptop purchase


@Shooting-For-800 wrote:

You score has no memory.


Other than maybe FICO 10T, which I'm still not sure how it works. But I don't know of any lenders actually using it yet, so I don't worry about it too much.



Starting Score: EQ8 680, TU8 713, EX8 701
Current Score: EQ8 769, TU8 756, EX8 771 as of Mar 23
Goal Score: EQ8 780, TU8 780, EX8 780

Take the myFICO Fitness Challenge
AZE4 - 8% Utl - New Accts: 1/6, 2/12, 5/24
Message 4 of 5
SouthJamaica
Mega Contributor

Re: Considering a laptop purchase


@IcyCool7227 wrote:

I want to make a purchase of $356 for a Lenovo 2 in 1 laptop on my new Capital One SavorOne card. By doing that I would definitely get the $200 welcome bonus plus no interest for almost 15 months. My first bill is due on Feb. 16. If I made that purchase it would bring the balance to $529.20. The only other card balance I have is $195 on my Amazon card. Below are my current scores and credit limits in my signature.

 

I don't want to use up my credit utilization ratio on that computer purchase because it might drop my score down. However both Capital One account and the $1,000 Kohls CLI haven't been reported to the CBs yet. Would it be wiser to wait? I think it takes too long to report to them. I do have enough money to pay the balance right away.

 

I also found that while C1 doesn't accept debit cards for their payments I can pay it via debit as a flat $1.50 fee for a money bill service at my local grocer. With the 2% SuperCash hybrid card I can get cashback covering that fee plus profit.


I think you should definitely go ahead and use the Savor One, and then just pay something towards the bill before the statement date.  If you report a balance of $250 or less you'll be fine.

 

BTW I had two different $1000 + Dell laptops, neither of which was any good for me. Then I got a little Lenovo for less than $400 and it was perfect.


Total revolving limits 743700 (625200 reporting) FICO 8: EQ 705 TU 717 EX 687

Message 5 of 5
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