Paying for guns in installments...crazy question.

[Dirtebiker]

Vile? They give you free money for a month at a time. They reward you for using their money for a month at a time with points, miles, etc... You don't pay them a nickel extra if you pay them back their money in a month.

Try to go into a bank and get an unsecured loan to buy everyday stuff.

There are stupid people out there that don't know how to manage their money. Sure credit card companies make money off of them, but so do pawn shops.

I use my card for EVERYTHING. I pay the balance each month and try not to buy extras just because I have the card. I usually get $40-50 back in cash each month from my purchases. I know the prices are inflated to cover CC fees at the store, buy even the cash customers pay that, and they get nothing for using cash.

If you're responsible, credit cards are a good tool. Another example is stores that run 0% promotions. If you have the money to buy the item, you can keep your money and pay over time, allowing your money to work for you in the meantime.

Sounds good!
You words "if you're responsible" are the key! Evidently, not too many of us are "responsible" or the companies wouldn't have those kind of traps! Many companies make more off of their "0 down, 0 interest" schemes than they make off of the merchandise or service they provide!

 

[ryknoll3]

Hurt you back , lose your job, have an medical emergency and see how the CC companies treat you.
People don't get rich from credit card cash back programs.

Name one company that loans you money that will treat you nicely when you can't pay them anymore, no matter the reason. This is not an "It's a Wonderful Life" Building and Loan world anymore, if ever.

Oh, and if you want to hedge yourself against the possibility of not being able to pay, there's insurance for that. That would be the responsible way.

 

[ryknoll3]

Sounds good!
You words "if you're responsible" are the key! Evidently, not too many of us are "responsible" or the companies wouldn't have those kind of traps! Many companies make more off of their "0 down, 0 interest" schemes than they make off of the merchandise or service they provide!

Funny how people use the words, "trap" and "scheme" to describe a legal agreement they entered into of their own free will, who's terms were stated upfront. Terms they either didn't bother to read or chose to ignore. I'm always amazed by the *****ing and moaning people do about credit card companies because they're too ignorant to read the terms they agree to, spend more than they can afford and then moan about "hidden" fees. No one forces anyone to use the credit card companies' product, or rack up bills they can't afford to pay. Just sayin'.......

 

[repeter1977]

Name one company that loans you money that will treat you nicely when you can't pay them anymore, no matter the reason. This is not an "It's a Wonderful Life" Building and Loan world anymore, if ever.

Oh, and if you want to hedge yourself against the possibility of not being able to pay, there's insurance for that. That would be the responsible way.

Wonderfully put, on both posts. After all, if you just lent a friend that kind of money, you would want it back. Granted, you might cut him more slack if he was injured, but its not like you gave him a gift.
As stated, on your other post. You sign a contract with a credit card company, or even the with the lease. I know that I ask questions when I have signed loans with ALL of the loans that I have gotten. If something was not in black and white, or i had a question, better be sure that I asked it, and made sure it was added, or clarified. Some might think they are in favor of the loan company/bank, but, its not like you HAVE to sign anything. If you don't want to agree, you DON'T have to. You can walk away and do it yourself. There are tons of banks and loan companies that are out there, willing to compete for your money. Just remember that. Same with the layaway, If you don't like their agreement, then you can either have them change it before you sign, or get it through someone else. Its amazing how things will change when they know you are willing to walk away.

 

[Hotdoger]

Name one company that loans you money that will treat you nicely when you can't pay them anymore, no matter the reason. This is not an "It's a Wonderful Life" Building and Loan world anymore, if ever. Good arguement to not use credit of ANY form.

Oh, and if you want to hedge yourself against the possibility of not being able to pay, there's insurance for that. That would be the responsible way.

Paying for high priced useless insurance is not being "responsible" and certainly is not the way to accumulate wealth.

 

[VikingWarlord]

Funny how people use the words, "trap" and "scheme" to describe a legal agreement they entered into of their own free will, who's terms were stated upfront. Terms they either didn't bother to read or chose to ignore. I'm always amazed by the *****ing and moaning people do about credit card companies because they're too ignorant to read the terms they agree to, spend more than they can afford and then moan about "hidden" fees. No one forces anyone to use the credit card companies' product, or rack up bills they can't afford to pay. Just sayin'.......

I personally know a lot of people who do things like that.

Bank of America did that **** to me, after three years of being a model customer, they decided to start charging an annual fee AND jacked up my interest rate. They gave me 28 days to either accept the new terms or close the account and I told them to eat a bag of dicks.

Certain plans can be really beneficial to your credit if you're not an idiot about them. Most of my (very) good credit came from opening store credit accounts with no interest periods for items I could already afford to pay off. Pay the balance off, credit score goes up. It's when you lose control that it becomes a problem.

 

[Dirtebiker]

Funny how people use the words, "trap" and "scheme" to describe a legal agreement they entered into of their own free will, who's terms were stated upfront. Terms they either didn't bother to read or chose to ignore. I'm always amazed by the *****ing and moaning people do about credit card companies because they're too ignorant to read the terms they agree to, spend more than they can afford and then moan about "hidden" fees. No one forces anyone to use the credit card companies' product, or rack up bills they can't afford to pay. Just sayin'.......

What other word would describe the credit companies zero percent for six months deals better than "scheme"?
They are "schemes"! And they do work!
I don't think the people that fall for them would call them what they are! BUT I DO!!!
Go ahead and play their game! I never said it isn't possible to use credit and not get hurt. But the majority of those that START using credit because of these 0% deals (schemes) wind up paying a lot of interest and many of those same people end up in deep financial troubles because they were ignorant or stupid enough to fall for the "SCHEME"!
Very few do as you say that YOU do ( pay off balance every month)! Even though most would say that was their intention when they started, they usually end up carrying a balance over to the next month, and then the ball starts rolling and before long, they are "TRAPPED" in the cycle !
So, call it what you want! I refuse to use credit cards! It is too easy to be blinded by the "great deal of free money", or something to happen (loss of job, injury, unexpected financial need, ect.) that makes you miss a payment, and then what?!

And not to call you a liar, but what kind of deal does your credit card company give you and how much do you charge to be getting "$40-50 back in cash each month"? Most I've seen is 1-2% of purchases. And how much is your annual fee?

 

[Dirtebiker]

Paying for high priced useless insurance is not being "responsible" and certainly is not the way to accumulate wealth.

This^^^^^
You are exactly right Hotdoger!!!

 

[Dirtebiker]

I personally know a lot of people who do things like that.

Bank of America did that **** to me, after three years of being a model customer, they decided to start charging an annual fee AND jacked up my interest rate. They gave me 28 days to either accept the new terms or close the account and I told them to eat a bag of dicks.

Certain plans can be really beneficial to your credit if you're not an idiot about them. Most of my (very) good credit came from opening store credit accounts with no interest periods for items I could already afford to pay off. Pay the balance off, credit score goes up. It's when you lose control that it becomes a problem.

You are correct in what you say! But you do not need credit! Most people will tell you that you need to build up your credit rating so you can borrow money. Think about that..... It's NOT TRUE!!!!!
You do not need a credit rating at all! Pay for what you want! Don't get caught in the vicious cycle of working to pay your lenders! Save your money AND the interest and annual fees, and pay for everything with cash! Or in the case of a big purchase like a home, the home is the collateral for the loan. You do not need a credit rating to get a mortgage! Just a reasonable down payment, a means to pay the loan and a mortgage company that is smart enough to know that someone with NO other payments can more likely pay them back!!!

 

[JetGirl]

I know this wasn't to me, but I'm gonna reply to it anyhow:

Very few do as you say that YOU do ( pay off balance every month)!

I'm one of them that makes it a point to pay off every monthly balance. But you left out one important thing, too...
NEVER get a card you have to pay a fee for. If there's an annual fee just to have the card, forget it!
Now THAT'S a rip off. No annual fee.

what kind of deal does your credit card company give you and how much do you charge to be getting "$40-50 back in cash each month"? Most I've seen is 1-2% of purchases. And how much is your annual fee?

It takes me roughly six to eight months to earn enough bonus points to redeem $50 bucks. In my family, the term has come to be known as "Brownell Bucks" Sometimes these people can be really funny...and then there's now.

 

[VikingWarlord]

You are correct in what you say! But you do not need credit! Most people will tell you that you need to build up your credit rating so you can borrow money. Think about that..... It's NOT TRUE!!!!!
You do not need a credit rating at all! Pay for what you want! Don't get caught in the vicious cycle of working to pay your lenders! Save your money AND the interest and annual fees, and pay for everything with cash! Or in the case of a big purchase like a home, the home is the collateral for the loan. You do not need a credit rating to get a mortgage! Just a reasonable down payment, a means to pay the loan and a mortgage company that is smart enough to know that someone with NO other payments can more likely pay them back!!!

Unfortunately, I live in reality where this isn't typically possible. Also, you apparently didn't read what I said and just went off on a tangent. If you take advantage of promotional periods and can keep it in your pants, you don't have to deal with either interest OR annual fees.

There are a lot of occasions where you DO need credit in the modern world. Anyone who has to undergo a background check for DOD or DOJ clearances gets a credit check run. If you have none or not very much, you're sketchy. If it sucks, you're a security risk. Same thing in a whole lot of other fields.

 

[JetGirl]

There are a lot of occasions where you DO need credit in the modern world.

When my brother was biking through Tx to go see my nephew, he said the hotels wouldn't take cash. You had to have a card to put it on. I don't know if this was specific to a chain, or if it's some kind of across-the-board policy now.

 

[VikingWarlord]

When my brother was biking through Tx to go see my nephew, he said the hotels wouldn't take cash. You had to have a card to put it on. I don't know if this was specific to a chain, or if it's some kind of across-the-board policy now.

Most hotels I've ever been to are like that. If you destroy a room or steal all the towels, they need a way to charge you for damages. You can pay with cash when you leave, but they still need a card on file just in case. If you stay in absolute hellholes, they probably accept cash. They probably also charge by the hour.

 

[Roscoe38]

So I was browsing gunbroker.com the other day and noticed some sellers use a system called easy pay where you can pay in installments. Personally, I think this is kind of awesome.

I'm not really in a position to pay a ton of money for the firearm I want, but I can definitely swing it without consequence (id just rather avoid it of possible). However, it'd be pretty beneficial at this point in my life if I was able to pay for it in a few installments or something.

Anyone know of anywhere else that does it? Thanks! And sorry for the newbie questions haha.

McDonald's guns in Marion will lay away don't know what the down is or terms. McGalliard guns in Muncie will also lay away, they require 50% down, (this was over heard) don't know what the terms are.

 

[Hotdoger]

I know this wasn't to me, but I'm gonna reply to it anyhow:



I'm one of them that makes it a point to pay off every monthly balance. But you left out one important thing, too...
NEVER get a card you have to pay a fee for. If there's an annual fee just to have the card, forget it!
Now THAT'S a rip off. No annual fee.


It takes me roughly six to eight months to earn enough bonus points to redeem $50 bucks. In my family, the term has come to be known as "Brownell Bucks" Sometimes these people can be really funny...and then there's now.

With over 50% of Americans carrying a credit card balance, advising anyone to use them is wrong.

 

[JetGirl]

With over 50% of Americans carrying a credit card balance, advising anyone to use them is wrong.

Feel free to assume.

 

[kazaam]

Err, am i allowed to tell people to keep this thread on topic (please)?

 

[Hotdoger]

Feel free to assume.

I have not seen in ANY of your posts where you told anyone not to use them .
If I missed that, sorry.

 

[JetGirl]

I have not seen in ANY of your posts where you told anyone not to use them .

I have not seen in ANY of your posts where you told anyone to use them .

There ya go.

sorry.

Forgiven.

 

[Hotdoger]

Err, am i allowed to tell people to keep this thread on topic (please)?

New to INGO aren't ya? LOL