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03mlancer

Fidelity visa utilization question

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So I just applied and got approved for a fidelity visa signature (690 Fico) for 11.5k cl. Now I hear elan financial is a very conservative lender. My question is will too much usage early on in our relationship scare them. I ask because I regularly charge about 5k in one transaction every month and pif to my Capone qs card and plan on shifting that transaction to the fidelity card as it's effectively a 2% card and my only 2% card. Should I wait a few months before charging it or not?

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The amount you want to spend is well under your credit limit. If your new card has better rewards, use it.

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I would just charge away. But I don't know anything about elan. If you're unsure why not call them and ask if there will be any issues.

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Datapoint from an acquaintance of mine:

  • $12,000 CL
  • Regularly uses 50-70% of the CL
  • Account set to autopay/PIF
  • Account transferred from BofA/CIA
  • Had a 30 shortly after account opening for not paying the final FIA bill, which was mailed even to people who were on autopay
  • No issues so far, 30 was removed after GW letter

I have also had no issues. I have no information on new accounts that were not part of the FIA-Elan switch.

 

EDIT: Corrected CL

Edited by illusemycreditcard

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