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Posted: 7/7/2003 12:12:19 AM EDT
Now that I've begun working a little again I was thinking that in order to accrue some toys that I've been looking at before they slip out of my reach (about six different guns I've wanted in the past, oh, four years, have either up and dissapeared or tripled in value) I've been thinking about joining the evil empire of credit-card holders. The Army is STILL dicking me around with my enlistment bonus of which I should have recieved well over 2K of right now, but havnt, and I REALY REALY want that Krink bad...and a G3 type...

so should I do it? My credit to this point is spotless, I've got a platnum card ap all ready to go but I dont know if its worth it...
Link Posted: 7/7/2003 2:55:07 PM EDT
Just say no.
Link Posted: 7/7/2003 5:42:58 PM EDT
I'm a cash for guns kind of guy now. However I would be willing to if the need arose use a CC for a small part of a purchase. For example if I'd been saving for a goody and had gotten to the 85%+ range of the total amount in savings I might use the CC for the rest.

Things to keep in mind when you use your CC, you don't get the "cash discount" price so you will typically pay about 3% more and then there is the extra you will incure from financing your purchase.

FWIW Bens Loan in Renton has a lay away program.
Link Posted: 7/7/2003 5:55:14 PM EDT

Things to keep in mind when you use your CC, you don't get the "cash discount" price so you will typically pay about 3% more

Only if the seller imposes a surcharge will you pay one. I will not purchase anything via credit card from anyone who will slap me with a surcharge.


then there is the extra you will incure from financing your purchase.

Only if you carry a balance, which is more or less the key to navigating the credit card minefield. I don't purchase anything via credit card that I can't comfortably pay off during the billing cycle.
Link Posted: 7/7/2003 6:30:33 PM EDT
If I can't afford it by paying cash, I don't buy it.

-934
Link Posted: 7/7/2003 7:22:20 PM EDT
See, thats the thing, I can afford paying cash for it, I just always end up getting the cash for it about two weeks AFTER its gone....

Link Posted: 7/7/2003 7:46:55 PM EDT
I've got an NRA Mastercard that I use for most purchases, but I don't pay surcharges or interest. The NRA gets a 1% cut of the gross card bill.There are a lot of cards out there now that provide some kind of a bonus for use,but if you can't pay them in full each month,it can really turn into a trap.
Link Posted: 7/7/2003 8:03:05 PM EDT
Miles baby....I fly enough and with the CC I get free upgrades etc...
Link Posted: 7/8/2003 6:18:57 PM EDT
It is awful tempting isn't it?
If you think you can pay it off in a few months, I would say go for it.

At least when you get the bill every month, you can look and admire your debt hanging on the wall.
Link Posted: 7/8/2003 7:55:06 PM EDT
Do not, under any circumstances, run up any credit card debt to purchase luxury items. Credit card debt should only be incurred only as a last resort in an emergency, then such debt should be resolved as soon as possible. Do NOT go down this slippery slope.

I view credit cards as a covienience tool...only there to consolidate purchases to be paid off immediately with one lump sum payment.

Do NOT run up credit card debt at all.
Link Posted: 7/8/2003 10:34:55 PM EDT
<shrugs> Luxury items to me are racing parts for my car, anime tapes, manga, dinners out. Guns do not fit that description :)

Thanks for the input.
Link Posted: 7/8/2003 11:13:21 PM EDT
AMEX or cash only.
Link Posted: 7/12/2003 2:28:24 AM EDT
I have a CC through my local gunstore, and use it for their 6/12 months same as cash deals. Always paid off before my term is up. I could probably buy the guns outright, but if I can stretch it out over a 6 or 12 month period why not? It essencially makes it the same as saving up $50-100 a month till I can cash purchase the gun, but I get to have it right away. I've learned my lesson with buying stuff I can't afford on credit cards. I don't use them for anything but emergencies anymore. Same as cash deals are the only time I'll buy a luxary item on credit.
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