03-20-2019 06:39 AM
I'm getting ready to move and was thinking about using the financing option for a new TV. My question is, will the full amount I finance show on my card until it's paid off?
Reason I'm asking is because I do not want to show a high credit utilization on this card because I believe that counts for about 30% of a credit score.
Thanks in advance for any assistance!
03-20-2019 07:11 AM
I use my Best Buy Credit card for nearly all of my purchases. Especially the big ones where I can get multi month interest free financiing.
The answer to your question is your card will show the balance you owe on the card until it is paid off.
03-20-2019 07:18 AM
I like to funnel all my money through this card as well, that's why I was hoping only the monthly amount due for the financing would show and not the entire amount of the item. The TV would about max out my limit they started me with on this new card unfortunately.
Maybe I'll call later and look in to a credit increase. They'll definitely be able to see I've put alot of money through this card already and have been paying it off every month.
Thanks for the help!
03-20-2019 08:31 AM
I went through Citi and got my limit increased.
You might be better off waiting until after you move in any event. Then you don't have to move the TV
It would be a real good idea to get all of your addresses changed first and make sure all of that is in order.
03-20-2019 09:22 AM
I did some quick research and found out my credit utilization is actually factored from what I have available on all my cards combined, I initially thought it looked at each card individually and factored it, so this purchase would not make my credit utilization skyrocket factoring in my other accounts.
I hear ya on waiting to move to get the TV! This is an 82" so I'm not moving this thing lol. Luckily the date is pretty close and Bestbuy will let me schedule the delivery for right after I move in.
Thanks again for all the help!
03-20-2019 11:09 AM
Hey there, phogel1.
Thank you for your post and welcome to our community here on the Forums. Please feel free to browse our different boards and chime in on threads if you would like. If you would like to know about our Forums and what we have to offer here, please see the Welcome/Getting Started thread.
With that being said, bobberuchi is correct on many accounts! The first being, your account will show both the full amount put on your My Best Buy credit card, as well as what your monthly minimum payment is. If a financing option is chosen, it should also show when your expiration date is.
The second account being, credit limit increases are possible at the discretion of CitiBank. To request an increase, you can visit any of our local stores and have a Blue Shirt call Citibank on your behalf, or you can reach them at (888) 574-1301. This number can found on the back of your My Best Buy credit card as well.
I do sincerely hope this information helps and thank you again for reaching out to us here on the forums. Please let me know if you have any further questions.