Credit Card Question

Post by **Apoptosis** » Mon Aug 15, 2005 7:19 pm

kinda leading on how Capper ended if you are still in doubt then don't get one. You'd thank us later in life and you can build credit by having a car loan like you already noted.

Soliex · Post by **Soliex** » Mon Aug 15, 2005 7:22 pm

Thanks guys, didnt intend for the question to carry this much, I think ill stay away with one, ill try a gas card or something but until i wait for my cash to increase to purchase my new computer ill post here.

Soliex · Post by **Soliex** » Mon Aug 15, 2005 7:57 pm

On another note, but i felt it was alright to post it here.

I noticed that newegg.com now has a bill me later thing, meaning you can purchase stuff on newegg and not have to pay for 90days, but after that 90days they plop on like a 17.85% APR. Its basically the same feature as a credit card but its so tempting to do it. Im usually not so impulsive like im being right now but its just that id like to upgrade my computer. I bought the case and power supply and im just itching to fill the case with components.

LVCapo · Post by **LVCapo** » Mon Aug 15, 2005 8:04 pm

Here is something you have to be careful of with a lot of deals like that. Whuile they say "No interest for 90 days" it means that if you pay it off within that time frame there is no interest....but a lot of these companies have small print that states if you don't pay it off during the alotted time, you pay back interest to cover the no interest period.....which means you saved nothing, and in fact are going to pay compouinded interest on the amount.

Soliex · Post by **Soliex** » Mon Aug 15, 2005 8:09 pm

Well i know that, but not having to pay for 90days will mean i could get what i want now, instead of buying one part now, another in a month and so forth. I may seem a bit impatient, well you know what i am impatient :D when it comes to a new computer. Im just seeing whats available to me, i of course wouldnt do anything without telling my parents what i plan to do because they seem to know whats best for me. They know me best

LVCapo · Post by **LVCapo** » Mon Aug 15, 2005 8:27 pm

Something I didn't say, but should have....is people like Apop, Amy, and others here are great people and would never give you bad advice....they only want the best for everyone.
I'm just someone who really has strong feelings about young people and credit cards, sorry for that.

Soliex · Post by **Soliex** » Mon Aug 15, 2005 8:33 pm

And i appreciate everything your telling me, to be honest i was full blown already planned how i was ganna purchase my parts and stuff but i saw your reply and it through a red flag, i remember back in economics class saying that if you pay the minimum every month your just screwed over for a long long time.

But im looking for a payment plan so i can pay X amount every month and fit it into my other bills. Not being able to pay for 90 days would be awesome and i could pay a certain amount every month.

And the computer i plan to purchase isnt going to cost that much, all i really need right away is the Motherboard, Processor and Video card. So im only really looking at about $700-900. Im planning on getting the 7800GTX, 3700 San deigo, and the DFI UT ultra-D.

infinitevalence · Post by **infinitevalence** » Mon Aug 15, 2005 8:37 pm

I would skip the 3700 sandi and get the X2 3800+ its not as fast but your going to have much better general useage out of it, and then with the DFI you can always OC it.

Soliex · Post by **Soliex** » Mon Aug 15, 2005 8:44 pm

http://www.newegg.com/Product/Product.a ... 6819103539
-$289

http://www.newegg.com/Product/Product.a ... 6819103562
-$425

A real big price increase, im kinda watching my budget here. But i do want to go all out on the video card.

infinitevalence · Post by **infinitevalence** » Mon Aug 15, 2005 8:50 pm

that price should drop soon, i think its going to settel down near $400 in the next mth.

Soliex · Post by **Soliex** » Mon Aug 15, 2005 9:02 pm

Previously i went all out on the video card as well and somewhat decent on the processor,

I have the AMD barton 3000+ now and a radeon 9800Pro 128mb. I got the radeon about a week after it had came out. Its still holding up but i have been trying to sell my current computer for the parts for my new one.

But do you think its more important to go with a better processor and go mid on the video card, say the X2 3800 and a 6800GT?

killswitch83 · Post by **killswitch83** » Mon Aug 15, 2005 10:38 pm

capper5016 wrote:Something I didn't say, but should have....is people like Apop, Amy, and others here are great people and would never give you bad advice....they only want the best for everyone.
I'm just someone who really has strong feelings about young people and credit cards, sorry for that.

Young people?? How old are you Capper, if you don't mind my asking? I am 22, as I previously stated. Also, I can appreciate your advice and concern, just so you know

NAiLs · Post by **NAiLs** » Tue Aug 16, 2005 12:15 am

infinitevalence wrote:The trick is to always have the $$ your spending. Dont ever think of a CC as a lone think of it like a debit card, for every dollar you put on it you need to have that dollar in the bank.

Exactly how I look at it... however I have had a little problem with needing new tires and brakes for my car... which set me back $850. Then I found out the day before I go on vacation, that I needed to pay for approximately 1/3 of my schooling, so that set me back another $500. Then I go find the books I need... that's setting me back another $400-500...

So unfortunately the next couple months I'm going to be in debt.

I've always paid off my credit cards right away, until I bought a laptop and somehow couldn't keep up with the payment. Oh well, I'll be all paid off soon enough.

Credit cards are absolutely not evil... you just can't get sucked into them.

LVCapo · Post by **LVCapo** » Tue Aug 16, 2005 12:57 am

I'm 36.

killswitch83 · Post by **killswitch83** » Tue Aug 16, 2005 8:48 am

I see, ok I guess I can see where we would be considered young people, lol. Hey, I've come to learn and appreciate the fact that older people tend to have more wisdom about a lot of things, thus I've learned to listen. I should have listened to my parents in the first place about credit because I saw firsthand what the destruction of finances can do to people in them, but my hardheaded self had to find out the hard way. Hell, better to find out the hard way than not at all IMO.

LVCapo · Post by **LVCapo** » Tue Aug 16, 2005 9:00 am

I think its good to listen to what people with experience have to offer.....but in the same breath I think you need to develop your own experiences as well. younger people have not changed in the fact that they want to go out and experience things for themselves, regardless as to what their elders tell them.....thats how you get old and shake your head after telling some kid not to do something, and he does anyway.

killswitch83 · Post by **killswitch83** » Tue Aug 16, 2005 10:59 am

Thus the nature of youth, lol. Experimentation is everything, just so long as you do it right, and not all experimentation is alright, if you get me (I know this from firsthand experience

).

Amy · Post by **Amy** » Tue Aug 16, 2005 3:50 pm

I know you're past this a little, but as for the 90 day thing...

That sounds like something we would do, and have done. HOWEVER, we sat down with an excel spreadsheet, and figured out EXACTLY where all the money is going first, and how much we have left over at the end of each month. When you total up everything for your computer, how much does it come to, including tax? Divide that by 3 (3 monthly payments) -- can you make the payments?

Something else you may consider is asking your parents or an older sibling for a loan -- it wouldn't build up credit, but it won't get you in trouble if you're late on a payment. Be sure to write up how long the loan is for, how much monthly payments will be, etc. and treat them as if they were the credit card company. If you can't pay them the amount you agreed to and on time each month, you know you are not responsible enough to handle a credit card.

Soliex · Post by **Soliex** » Tue Aug 16, 2005 4:29 pm

Well i just calculated some of that stuff and i wouldnt be able to make the payments in 3 months. I have been thinking and im probobally just going to wait until i can purchase it right then, and still have a bit of money left over. I figure i have a couple of advantages when waiting.

- I can get some more time to sell my current PC.
- The parts i want can possibly drop in price.
- I'll have the confidence of knowing that i can make the purchase.
- I can keep checking these fourms until i get my new computer.
- Ill feel better about myself because i can excersise self control.

NAiLs · Post by **NAiLs** » Tue Aug 16, 2005 4:50 pm

Soliex wrote:Well i just calculated some of that stuff and i wouldnt be able to make the payments in 3 months. I have been thinking and im probobally just going to wait until i can purchase it right then, and still have a bit of money left over. I figure i have a couple of advantages when waiting.

- I can get some more time to sell my current PC.
- The parts i want can possibly drop in price.
- I'll have the confidence of knowing that i can make the purchase.
- I can keep checking these fourms until i get my new computer.
- Ill feel better about myself because i can excersise self control.

Good idea man. Buy it when you actually HAVE the money in hand. That's what I did when I bulit my PC in 2003. I found all the stuff I wanted, upgraded as needed. When the time came that I had the money, or figured I'd have the money by the time the bill came around, I went ahead and ordered it all.

Credit cards are by no means stupid as they help build you a credit. Do not have a ton of them, as financial institutions will see all that as potential credit debt, which I believe will lower your credit score. I have three CC's. One GM, one from my bank, and one from Trek. I will not use the Trek one ever again, and quite possibly will cancel it once my bike is paid off. (Which is in February, when I have to pay for it)

I had such great credit when I was 18, that I didn't have to have my parents co-sign for my $17,000 car loan. Mind you, I got that car loan when I was in high school yet. I've since purchased another car, as that one was totaled by some numbnuts, and have another $15,000 loan, all on my own once again.