Question about credit cards

[ManBearPig]

I'm new to the world of credit cards, and i recently applied for a card that lets me get $100 off of a PS3. Now, i plan on buying the MGS4 bundle which retails for $499. My credit limit is $500. Here is my question...

If the thing is $499 before tax, will i still be able to buy it with the $500 credit limit that i have, and thus get the $100 back? It seems like theyre kind of screwing me if i cant.

Also, if i CANT...is there anyway i can pay whatever the tax is (to make the cost $500) and THEN buy the PS3?

Thanks atot!

 

[bctbct]

you may or may not be able to get the charge to go thru but you will be charged with an over limit fee.

yup, they screwed you.

 

[txrandom]

Your whole purchase is "applied" to the credit limit. It sounds like you shouldn't be using a credit card... Also, you could pay some of the PS3 with cash and the rest on the credit card.

 

[amdskip]

You should be able to pay cash for x amount and then charge the rest with no problems.

 

[thirtythree]

If your limit is really $500 I think it's safe to say that it would be a bad idea to buy something that cost more than that without first talking to the credit card company. Actually, it's probably a bad idea either way. Perhaps there's some fine print included with the offer and the MGS4 package doesn't even qualify?

 

[ManBearPig]

Well almost everyone i know who is buying the package will buy it with that card. That B.S. I suppose i can go talk to my bank and raise the limit like, $50 lol.

So it definitely would be okay to pay the tax and just pay the rest with the C.C.? Thanks so much.

 

[Juno]

Originally posted by: amdskip
You should be able to pay cash for x amount and then charge the rest with no problems.

yeah, i did that sometimes. OP should use this method.

 

[cubby1223]

Where are you allowed to buy the PS3 from? I believe retailers like Best Buy & Wal-Mart let you split the bill, pay some cash and the rest on the card. Or buy a gift card and use it on the spot.

As for the $500 limit, they're not really "screwing" you, it's your first card destined to buy a video game system, to them you probably look like a big risk.

 

[newnameman]

Tell the cashier to put 500 on the credit card and pay the rest with cash.

 

[ManBearPig]

well, there is no way they would know that i would buy that. My bigger problem is buying a $1500 tv. The only damn way i can afford that is to have my parents sign up for a amazon store card...they refuse to raise my limit, which they set at $600.

I can easily afford both items, but i would like to finance them to give my self some room to move, figuratively speaking. Of course, i do understand why they do this; i technically am a big risk.

 

[Special K]

What card gives $100 off a PS3?

 

[cubby1223]

Originally posted by: Kazaam
well, there is no way they would know that i would buy that. My bigger problem is buying a $1500 tv. The only damn way i can afford that is to have my parents sign up for a amazon store card...they refuse to raise my limit, which they set at $600.

I can easily afford both items, but i would like to finance them to give my self some room to move, figuratively speaking. Of course, i do understand why they do this; i technically am a big risk.

Well, of course we all can afford many things if we never look to the future. You're young. Start saving.

Originally posted by: Special K
What card gives $100 off a PS3?

Credit cards give $100 off all the time for many various situations. I got my Amex card that way.

 

[fatpat268]

Originally posted by: Kazaam
well, there is no way they would know that i would buy that. My bigger problem is buying a $1500 tv. The only damn way i can afford that is to have my parents sign up for a amazon store card...they refuse to raise my limit, which they set at $600.

I can easily afford both items, but i would like to finance them to give my self some room to move, figuratively speaking. Of course, i do understand why they do this; i technically am a big risk.

I have very little credit history, but I signed up for an Amazon/Chase rewards card a little while ago, and they gave me a $2000 credit limit. Not bad, I suppose. My first credit card, a capital one card has been stuck at $500 for a while. It was originally 300...

 

[ManBearPig]

Hey, thanks for all your advice guys. I will try to talk to them tomorrow. Failing that, I'll just do the cash and then card method.

Thanks again.

 

[Brainonska511]

I'm surprised you got so little. Without any credit history, Citibank gave me $2000 on my Dividend card (now at $5500) and Amex gave me $2000 the following year (now at $3000).

 

[ManBearPig]

Well, i'm pretty sure that chase was offering me credit cards for like 5-10K. Those were mail offers. But the ones i actually apply to i get so little. Perhaps its because of student loans?

amazon said that i may have a mortgage on there...wtf?

 

[ImDonly1]

Also, to let you know if your limit is $500 and you max the card out at $500. I would pay it off right away or at least half of the balance before your statement comes in. If you use more than a set percent of your credit limit like you are using 100% it shows you are desperate for money to the credit card companies. They will lower your credit score. If you are trying to build your credit score and increase your limit use a small part of your limit.

 

[mugs]

Originally posted by: Kazaam
well, there is no way they would know that i would buy that. My bigger problem is buying a $1500 tv. The only damn way i can afford that is to have my parents sign up for a amazon store card...they refuse to raise my limit, which they set at $600.

I can easily afford both items, but i would like to finance them to give my self some room to move, figuratively speaking. Of course, i do understand why they do this; i technically am a big risk.

If you're getting limits of $500 and $600, I assume you're relatively new to the whole credit card thing... you probably ought to stop signing up for cards to save some money and stick to the cards you have for a while.

 

[ManBearPig]

i have NO cards...all i have is the amazon store card, which does nothing for me because i cant finance the tv i want to finance. the sony card is only for the ps3, after that i probably wont ever use it. i will not sign up for any other cards. in the future, i may consider a CC through my bank (well, the sony one is chase too, but i mean a more traditional one), but thats a ways off.

also, thanks for the tips, i definitely am new at this. I'll pay off the sony card almost immediately when i get the PS3.

 

[thepd7]

Originally posted by: amdskip
You should be able to pay cash for x amount and then charge the rest with no problems.

winner

 

[chowderhead]

I think if you split the purchase between cash and credit, you may lose the protection that credit cards offer i.e. extended warranty, charge backs, etc.

 

[Epic Fail]

If you split the payment, check if you will lose the $100 credit.

 

[ManBearPig]

question...if i order a credit card and end up not activating or using (ever) it, will it hurt my credit score?

Reason i ask is because i had no idea i was approved, and i kinda need the card, so my dad applied for it. They havent said whether he will get it or not, but if i did, he definitely will.

thanks

 

[ManBearPig]

Originally posted by: Kazaam
question...if i order a credit card and end up not activating or using (ever) it, will it hurt my credit score?

Reason i ask is because i had no idea i was approved, and i kinda need the card, so my dad applied for it. They havent said whether he will get it or not, but if i did, he definitely will.

thanks

bump

 

[akshatp]

bump after 30 minutes??? anxious much?

the credit check happens when yuo apply for the card. So yes, if it was going to affect your score it already has. It makes no difference if you used it or not. The credit check is used to determine how much of a credit line they can extend to you.