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Kors92

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Best way to purchase mattress while boosting credit
I am fairly new to credit. I am in need of a new mattress which I believe is also a great opportunity to work on my credit. I have a single credit card with a limit of $700. The mattress I am wishing to purchase is roughly $1000. I am trying to think if its better just to max out my credit card and pay the rest via cash. Do you think this is a wise idea or is there possibly a better way around this?

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there are many factors to consider

But. Your best bet may be to max out the card with a down payment in cash as you suggest.  I'd stay away from financing witht the retailer,  Funiture sellers are notorious for offering financing at high interest rates and they DO NOT report to the credit reporting agencies. so it wouldn't help your credit.  

If your balance is low on that card and your history is good, you might try asking your card company for a Credit Limit Increase. .  Call the phone number on the back of your card.  Explain what your trying to do to the person on the other end,  See if you can sweet talk them into raising your limit a bit.  Tell them that your going to pay a couple of hundred up front, but that you don't want to max out the card paying for the matress.   This would help keep your utilization lower and not max out the card.

Good luck  

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