Just started building credit and need advice on a 2 card purchase

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Just started building credit and need advice on a 2 card purchase

Postby smspiva » Mon Oct 08, 2012 11:22 pm

Hey guys, I found this forum a few days ago and would just like to say thanks! The information I've found here has been really helpful and much better then the hear-say from everyone. I honestly believe high schools and colleges should teach a credit awareness class to better prepare people.

Anyways, here is my pertinent credit information:

Student Loans: started August 2011; ~$10,000 :/
Discover More: started June 2012; CL of $500
Chase Freedom: started Oct 2012; CL of $500
Walmart Credit crad: started Oct 2012; CL of $1000
My credit score as of right now (not reflecting the 2 new hard hits from Oct) is 713.

Now my question has to do with my credit to debt ratio's effect on my credit score and an idea of maximizing my cash back offers if my score won't be hit to hard.
I HAVE to buy a MacbookPro for my major (Speech-Pathology) which with a student discount costs around $1000. Since Chase (and Capital One cash rewards) is offering the $100 cash back after spending $500, would applying for Capital One and splitting the Macbook purchase between the 2 cards be worth saving $200 when it comes to my credit score?

Please remember that I have to have this laptop to graduate, student loans are maxed and I receive no help from my family. My Credit/Debt ratio will be about $1100/2500 but I will pay off $100 from each card right after the purchase and make minimum payments at least each month.
Is this a wise decision?

thanks in advance for any help!

Money card
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Postby Money card » Sat Oct 20, 2012 11:35 pm

I would say that if you don't have to have the 2 credit cards your better off. You have a Discover , Chase and a wal mart card.
does walmart sell the Macbook if they do could you buy it from them using any of the cards that you have.
I would say only apply for a capital1 card if you really need it don't apply just for macbook there are other cards that you have and you can split them up. if wal mart doesn't sell this and you have to go to bestbuy I would recommend using what you have.

by the way is that wal mart card a store charge card or the Discover version?

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Postby Vermonster » Sat Oct 20, 2012 11:56 pm

Walmart does not sell Apple Laptops, I believe BestBuy is the only B&M because apple has full control over the staff that sells Apple.

SMS, Have you thought about used, or even refurbished? I know it kinda sucks to feel like you're getting someone's leftovers, but I know so many people that sell off laptops well before they're used up. Besides I can't think of anything that would require the newest hardware so a used laptop with an upgrade to Snow Leopard would probably work great for you, and save money. Then when you graduate go balls to the walls on new Apple gear.

But if you're not into that, I wouldn't waste the time on trying to get a CapOne just for the $100. Especially if you can buy it at Bestbuy.com where both the Discover and Chase will give you a nice bonus. I personally thing=k if you were going to risk a hard pull you should go for a CLI on the Discover and just explain that you want to buy a Macbook. I'm sure they'd give you the CLI knowing that they might get some money from the interest.

Also see what Apple Financing looks like.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k

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Postby Nitrus » Sun Oct 21, 2012 2:19 am

Try Barclaycard for your Apple needs. The one Apple pushes has 0% for one year for a purchase over 1k. The NFL card is much better at 0% for the whole year on all purchases. $100 statement credit after any purchase and no annual fee. They also have a legendary reconsideration line. Was first approved for 500, called recon and they bumped it to 1k.

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