josej521 wrote:Hey folks,
I have just been approved for a 20k credit card. My score is around 800 and all my accounts are in good standing. I need this card for an emergency and will most likely need atleast half the funds available the first month. Is this possible? I will be able to pay off my bill in full when the bill is due but as of right now i need the money for a family emergency. Will the credit card company allow this or should i rip up the card when it comes and just apply for a loan?
Sorry about the family emergency. Sucks...
They wouldn't give you a CL of 20k if they didn't think you could pay it off in full or over time ...
If you like, on the side of caution, you can call them up and let them know that you're going to be making a large purchase on x day for approx y amount with z company so 1) the purchase actually goes through and 2) you have let them know
Whether you want to let the rep know of the circumstances and make notes on your account is up to you.
I'm running mine pretty high for the first few months because transitioning to a new job = expenses..plus they have a 4k spend requirement...granted its over the 3 months and it's barely the first ;p