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Purchase choice

Established Contributor

Purchase choice

So heres the story went into a matress place and was given a choice between a HP and a SP finacing option, I went the SP route and was approved for more then the ammount needed. but its one of those deals where you pay pretty much double.


So I been kinda thinking I got till August to buy out the contract on the bed, I'm looking at like upper to mid $600 to buy out. I got to poking around $700 out of $1500 is roughly ~47% util on one card. I could be alright with that since util doesnt leave a foot print. 


So $1139 is what I could run and still be under 30% across all accounts. I'm very tempted. Since my Discover card is 10% / 2% with 0 APR till April. Which it would be paid off well before then. I'm kinda thinking put it on the Discover card for the CB and switch to the Amex to use daily and pay it every week.


What would you guys do? If I decide to do it it will go on the Discover card for the CB and the 0 APR which will see about $150 - $200 a month till paid off.

Message 1 of 6
Valued Contributor

Re: Purchase choice

I’m a little confused because you threw out a bunch of numbers in your post. What is the actual price of the mattress? Regardless, I think if you can put it on the Discover with 0% and pay it off before interest is paid, then go for it! Especially if you’re paying $100-$200 a month (well above the minimum payment).

Message 2 of 6
Community Leader
Mega Contributor

Re: Purchase choice

Creating Disco payment history always a good thingSmiley Happy Dcb and perhaps helping future cli prospectsSmiley Happy
Message 3 of 6
Super Contributor

Re: Purchase choice

Yes, I would do it.


Based on your post in the Garden thread earlier this morning, you might want to run it by your wife/girlfriend/significantother/favoritegoat before you do it tho.  Smiley Wink

09/25/20 Mortgage scores: EX2 712, EQ5 710, TU4 no idea.
09/01/20 Fico 8: EX 704, EQ 711, TU 733.
09/05/20 Fico 9: EX 705, EQ 700, TU no idea...

Zero percent financing is where the devil lives...
Sitting in the garden behaving myself. #noinqs2020
Message 4 of 6
New Contributor

Re: Purchase choice

Definitely pay with the Discover, even if it affects your utilization and temporarily lowers your score. You only need to worry about your credit score when you are shopping for loans or looking for a new credit card.

Total CL: $40,300


Goal: 0 Inquiries for a year
Message 5 of 6
Established Contributor

Re: Purchase choice

Disco did give me a a 2x CLI starting CL was $750 to $1500. I'm thinking since I got till August I'll keep making the payments on it till then to lower the contract buy out price further.

Message 6 of 6
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