Tilted Forum Project Discussion Community - View Single Post - When purchasing something, do you save up or put it on credit?

Cubby · 06-14-2005, 11:10 AM

It depends on the purchase. The new car we are thinking of purchasing will have to be financed somehow..whether a loan or perhaps just leasing the car. Smaller things like video cameras, etc. I'll make sure I have the money first. Then I'll put it on credit card to defer the actual payment by a month and keep the money in an account making some sort of interest. I also get "Visa Points" or Airmiles depending on the credit card.

I always pay my credit card bill. If we don't quite have enough to pay off a credit card we will draw down on our line of credit paying the bank about prime to re-pay instead of the high interest charges on the credit card.

As Destrox says..paying with a credit card when you already have the money (or will have the money by the time the bill is due) helps build up some great credit.

06-14-2005, 11:10 AM	#69 (permalink)
Cubby Insane Location: BC, Canada	It depends on the purchase. The new car we are thinking of purchasing will have to be financed somehow..whether a loan or perhaps just leasing the car. Smaller things like video cameras, etc. I'll make sure I have the money first. Then I'll put it on credit card to defer the actual payment by a month and keep the money in an account making some sort of interest. I also get "Visa Points" or Airmiles depending on the credit card. I always pay my credit card bill. If we don't quite have enough to pay off a credit card we will draw down on our line of credit paying the bank about prime to re-pay instead of the high interest charges on the credit card. As Destrox says..paying with a credit card when you already have the money (or will have the money by the time the bill is due) helps build up some great credit. __________________ Don't be irreplaceable - if you can't be replaced, you can't be promoted!