The Best Way to Put a Big Purchase on a Credit Card
A big purchase is a rare opportunity
A large one-time buy, furniture, an appliance, a laptop, a home project, is exactly the spend a welcome bonus is built for. Most bonuses ask for $3,000 to $6,000 of spend in three months, and a single big purchase can clear that instantly, turning money you were going to spend anyway into a $500 to $1,500 bonus. The first question to ask is whether you can pay the purchase off in full.
If you can pay it off: chase a welcome bonus
If yes, open a new card with a strong welcome offer and put the purchase on it to unlock the bonus, the highest-value thing you can do with big spend. A $1,000 bonus on a $4,000 purchase is an effective 25 percent back, far more than any ongoing rewards rate. See welcome bonuses and the best current offers.
If you need to finance: use 0 percent intro APR
If you cannot pay it off right away, do not chase a bonus and carry a balance, the interest would erase it. Instead use a card with a 0 percent introductory APR on purchases, which lets you spread the cost over 12 to 21 months with no interest, as long as you clear the balance before the intro period ends. Either way, paying by card adds purchase protection and often extended warranty at no cost. See 0 percent intro APR.
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