Building Credit Question

[Anonymous]

I just got approved for a $2000 credit line from barclays.  I intially applied for the apple rewards program that have 0 interest for 18 months.  I called the recon department and they increased my 2000 to 3500 in matter of seconds.   I want to buy an imac apple computer thats 2700 using the barlcays card, theres couple scenarios

A. Buy it on the barclays card and pay it off right away

B. Buy it on the barclays card and pay it off through the 18 months 0 interest

or

C. Just buy it cash and keep the 3500 credit line clear

I have 4 credit cards

1. Capitol One Platinum - 500 credit line

2. Capitol One Quick Silver - 500 credit line

3. First Premiere Bank - 500 credit line

4. Macys store card - 1200 credit line

Heres my question I want to build and improve my credit score and history, and one of the ways your cedit is calculated by total credit utilization, for example I have now 5 credit cards, a total of 6200 in credit line, if I buy the imac with the barclays card and pay it off in 18 months it'll be like 46% utilization.

Is it better to do that and pay it off through 18 months or is it better to pay it off right away and keep the 3500 credit line from barclays clear and be under 10 percent credit utilization on all cards in total?

Tips please, im fairly new to credit.

[Anonymous]

take a look over this link. it might give you some idea. good luck! ~ http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Tips-and-Tricks-to-improve-credit/td-p/45...

[RonM21]

I like the building history with the lender route, which would go towards them increasing their CL with you and so on. In that case I'd use it on the Barclays card then pay it off, showing you can handle it. Only my opinion though. There are many ways you can do this.

[Anonymous]

What would be the best possible way, I already got a cli to 3500 after calling the recon soon as I got approved for 2000. I have cash to pay it but want the best scenario to kick my score higher. Should I just buy it and pay it off right away? Or buy it and pay like Half off and keep my barclays card at less then 50 percent utilization?

[SouthJamaica]

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@Anonymous wrote:

I just got approved for a $2000 credit line from barclays.  I intially applied for the apple rewards program that have 0 interest for 18 months.  I called the recon department and they increased my 2000 to 3500 in matter of seconds.   I want to buy an imac apple computer thats 2700 using the barlcays card, theres couple scenarios

A. Buy it on the barclays card and pay it off right away

B. Buy it on the barclays card and pay it off through the 18 months 0 interest

or

C. Just buy it cash and keep the 3500 credit line clear

I have 4 credit cards

1. Capitol One Platinum - 500 credit line

2. Capitol One Quick Silver - 500 credit line

3. First Premiere Bank - 500 credit line

4. Macys store card - 1200 credit line

Heres my question I want to build and improve my credit score and history, and one of the ways your cedit is calculated by total credit utilization, for example I have now 5 credit cards, a total of 6200 in credit line, if I buy the imac with the barclays card and pay it off in 18 months it'll be like 46% utilization.

Is it better to do that and pay it off through 18 months or is it better to pay it off right away and keep the 3500 credit line from barclays clear and be under 10 percent credit utilization on all cards in total?

Tips please, im fairly new to credit.

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1. Buy it on the Apple card and pay it off right away, before the statement cuts, down to $50 (but not zero).

2. Have the other 4 accounts report at zero.

This will optimize your cards for scoring purposes and at the same time score you some 'points' with Barclay.

[Anonymous]

Okay I'll probably just do that, I got this form Barclays, "if there are order delays, Barclaycard will monitor and adjust your account. what does that mean, if I don't use the credit line right away they can decrease my credit line?

[SouthJamaica]

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@Anonymous wrote:

Okay I'll probably just do that, I got this form Barclays, "if there are order delays, Barclaycard will monitor and adjust your account. what does that mean, if I don't use the credit line right away they can decrease my credit line?

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I don't know, sorry.

I would imagine it's got nothing to do with your credit line, but something to do with the rewards on Apple purchases.