So I have a big purchase that I have saved up for; I have all the money I need for it.
I also have just about zero credit history; I have never had need for it. I recently got my first credit card after being rejected for a bank account due to that lack of history (which strikes me as ridiculous as I was not signing up for any credit services, but that was the bank’s policy).
The aforementioned purchase is an order of magnitude greater than my new card’s limit, and financing is available. Would it be in any way advantageous to accept that financing, put chunks of the cost on the credit card, and pay those off in those chunks? Ideally I would want to do this quite rapidly to minimize interest costs.
Would doing this actually improve my credit rating/extend my credit history in a useful way? Or is the only option available for doing that just to use my credit card regularly and slowly build up credit over time?
Actually, for that matter, are there any legal concerns there? Could this procedure be some form of fraud?
I live in the United States.