Earlier today, I was reading up on possibly getting a credit card. However, I realized it might be a bad idea as I might start buying gadgets on credit.
So here's my question.. do you use buy your gadgets using any kind of credit? If so, how quickly do you pay it off? If not, why not?
Beware GAS... Gadget Acquisition Syndrome. Once you start, it's hard to stop. You buy and buy and buy, and then suddenly you're surrounded by a mountain of obsolete gear you haven't even paid for yet.
For the non-huge purchases (house, car), if I can't afford to pay for it outright, I don't buy it. I do put as much as possible onto credit cards, to get the short-term interest-free loan and rewards. But I always pay them in full each month. So, this goes for gadgets, computers, patio furniture, appliances, etc.
It helps that I'm in a dual-income household, of course.
I do lots of gadget credit card purchases. I tend to pay them off in a few months so it isnt so bad. I rotate the old stuff out on ebay so it doesnt seem so terrible paying for things for a couple of months.
My big problem is I have to have it NOW!
I have the advantage of being single now so it is easier for me.
i voted no, never, unless you consider the Toyota Prius a gadget (it has blutooth ) seriously though by the time I'm ready for the Prius I may not even need a loan. (Thanks to saving religiously with minimal spending) realisticly I may need a loan upto $7000 not including taxes and insurance, etc. I hope to purchase this Feb 2005.
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For the non-huge purchases (house, car), if I can't afford to pay for it outright, I don't buy it. I do put as much as possible onto credit cards, to get the short-term interest-free loan and rewards. But I always pay them in full each month. So, this goes for gadgets, computers, patio furniture, appliances, etc.
Exactly the same principle for me. I never have paid interest on my credit cards, even though I use them for most nontrivial-sized purchases.
zkmusa: As long as you can control your budget, the rewards with a credit card are a pretty good win, whether they be points or cash back. I also prefer having the flexibility of not carrying large amounts of cash, and credit cards are much more convenient than checks in most cases.
Fortunately, the tax system in Austrlaia allows me to salary sacrifice PDA (and some other tech) purchases. This means that I buy the item from my salary and therefore save money by not paying tax on that money.
Effectively it means that my PDA purchases cost about 50% of the sticker price.
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zkmusa: As long as you can control your budget, the rewards with a credit card are a pretty good win, whether they be points or cash back. I also prefer having the flexibility of not carrying large amounts of cash, and credit cards are much more convenient than checks in most cases.
I'm not saying I pay in cash or check either. In fact, I hate cash... I don't carry it around if I don't have to.. What I normally use is a check card so any purchases I make get debited from my checking account immediately.
This is the way I've liked doing things for a long time, but the problem with this is that you don't get the benefits of having a credit card.
Let me ask you all another question then. What perks does your credit card offer? I know American Express gives an extra 1 year extended warranty of electronics purchased on their card, which personally I find very cool!
Let me ask you all another question then. What perks does your credit card offer? I know American Express gives an extra 1 year extended warranty of electronics purchased on their card, which personally I find very cool!
By not using a check card (I assume it works somewhat like a debit card; correct me if I'm wrong), you have an easier time contesting wrong charges to your account. (On a debit card at least, you have a very limited timespan to catch errors.) You also get to "control" your monthly payment through an extra step, which I personally prefer.
In addition, cash back/rewards points are always nice to have. Believe it or not, they do eventually add up.
Do you buy your gadgets on credit?
) seriously though by the time I'm ready for the Prius I may not even need a loan. (Thanks to saving religiously with minimal spending) realisticly I may need a loan upto $7000 not including taxes and insurance, etc. I hope to purchase this Feb 2005.
What I normally use is a check card so any purchases I make get debited from my checking account immediately.
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