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Payment options when buying a firearm
Posted on 8/30/11 at 11:17 pm
Posted on 8/30/11 at 11:17 pm
This fits the money board better, but it is probably beneath those snobs. Plus it regards a firearm so it belongs on the OB.
With the tax free weekend fast approaching I have been thinking about firearms I would be willing to buy if a good opportunity were to arise. FYI I am considering an 870 tactical or classic as well as a ruger sr40c. In the process of buying said firearm I would also like to build a little credit. As a recent college grad who only has one credit card with no balance and no student loans it wouldn't hurt to deepen my credit history.
If I were to choose an alternate method to paying up front, would it be better off to buy my firearm with my credit card or with in store financing? My credit card has a typical first card high interest rate. I have plenty of money if I wanted to buy up front and I am not going to buy a gun just to build credit. If I were to put it on my CC, would it do me any good credit wise to pay it off the same month? Should I finance it with 0% for as short a period as possible or as long a period as possible? What is the best was to build credit in the process? It goes without saying that any payments I agree to make I will pay on time. Thanks
With the tax free weekend fast approaching I have been thinking about firearms I would be willing to buy if a good opportunity were to arise. FYI I am considering an 870 tactical or classic as well as a ruger sr40c. In the process of buying said firearm I would also like to build a little credit. As a recent college grad who only has one credit card with no balance and no student loans it wouldn't hurt to deepen my credit history.
If I were to choose an alternate method to paying up front, would it be better off to buy my firearm with my credit card or with in store financing? My credit card has a typical first card high interest rate. I have plenty of money if I wanted to buy up front and I am not going to buy a gun just to build credit. If I were to put it on my CC, would it do me any good credit wise to pay it off the same month? Should I finance it with 0% for as short a period as possible or as long a period as possible? What is the best was to build credit in the process? It goes without saying that any payments I agree to make I will pay on time. Thanks
3
Posted on 8/30/11 at 11:51 pm to puffulufogous
Buy with major credit card. Pay off most of the balance but maintain a balance. Then pay small payments on it for a year or so. 
Posted on 8/30/11 at 11:59 pm to puffulufogous
my .02, If your credit card has rewards then use it if the shop doesn't charge extra for using a credit card. As far as building your credit I don't think it will do much, if anything, to improve your credik - but I'm not 100% on that. The money board gets less sofisticated (fuk u spell chek) questions than this all the time; I'd post it over there. Just somehow work into the post that you are considering investing in the Iraq Dinar. They love that shite.
Posted on 8/31/11 at 1:29 am to BlockNtackle
I have an 870 tactical with a tacstar light with pressure switch I'm about to put up for sale. No taxes this weekend or subsequently
Posted on 8/31/11 at 6:50 am to jtiger123
If you can pay with cash full put it on a credit card and pay off the credit card. Don't carry a balance. Pay that off. Credit card credit is different from structured loan credit. It's revolving debt. If you can form a history of buying on credit and paying off in full each month it's a lot better then carrying the balance. Think of it this way. What sounds better? Buying something for $1K and paying it off or taking 6 months to pay off that same $1k and paying interest?
And if you can't pay it all off don't buy it. Save your money then buy it fully outright.
And if you can't pay it all off don't buy it. Save your money then buy it fully outright.
This post was edited on 8/31/11 at 6:52 am
Posted on 8/31/11 at 7:25 am to Coast Tiger
quote:
If you can pay with cash full put it on a credit card and pay off the credit card. Don't carry a balance. Pay that off. Credit card credit is different from structured loan credit. It's revolving debt. If you can form a history of buying on credit and paying off in full each month it's a lot better then carrying the balance. Think of it this way. What sounds better? Buying something for $1K and paying it off or taking 6 months to pay off that same $1k and paying interest?
This is what I've always been told
Posted on 8/31/11 at 7:30 am to Boats n Hose
trufe
it's interesting to look at your credit report and look back and see the "ups and downs" of your history... ie: that's when the baby was born, that's when we were broke, etc. etc...
it's interesting to look at your credit report and look back and see the "ups and downs" of your history... ie: that's when the baby was born, that's when we were broke, etc. etc...
Posted on 8/31/11 at 7:54 am to Ole Geauxt
Pay cash for the gun and enjoy being a firearm owner. To build credit walk into your bank/credit union and ask to speak to a loan officer. Tell this person what you are trying to do and listen closely. Open a line of credit and never extend that credit further than you can pay off.
Posted on 8/31/11 at 8:28 am to Choirboy
quote:this
Pay cash for the gun and enjoy being a firearm owner. To build credit walk into your bank/credit union and ask to speak to a loan officer. Tell this person what you are trying to do and listen closely
Posted on 8/31/11 at 8:44 am to Boats n Hose
quote:
If you can pay with cash full put it on a credit card and pay off the credit card. Don't carry a balance. Pay that off. Credit card credit is different from structured loan credit. It's revolving debt. If you can form a history of buying on credit and paying off in full each month it's a lot better then carrying the balance. Think of it this way. What sounds better? Buying something for $1K and paying it off or taking 6 months to pay off that same $1k and paying interest?
quote:
This is what I've always been told
Truth....buy it on your card then pay it off next billing cycle. That will help build your credit!
Posted on 8/31/11 at 10:03 am to puffulufogous
You obviously aren't married.
When I buy a new gun it is always with cash. When I bring it home and my wife ask if its new, the reply is always the same. "This? No, I've had this for a couple of years now."
When I buy a new gun it is always with cash. When I bring it home and my wife ask if its new, the reply is always the same. "This? No, I've had this for a couple of years now."
Posted on 8/31/11 at 10:10 am to bbvdd
quote:
You obviously aren't married. When I buy a new gun it is always with cash. When I bring it home and my wife ask if its new, the reply is always the same. "This? No, I've had this for a couple of years now."
+1000
Posted on 8/31/11 at 10:16 am to bbvdd
quote:I'm gonna save this one for the future
When I buy a new gun it is always with cash. When I bring it home and my wife ask if its new, the reply is always the same. "This? No, I've had this for a couple of years now."
Posted on 8/31/11 at 11:32 am to Choirboy
Like I said, I have more than enough money to buy the item outright, otherwise I wouldn't be buying it. I thought using the credit card might be the best option, but I didn't know wether to carry the balance or pay it all off same day. I think I will stay away from financing.
Posted on 8/31/11 at 11:42 am to Boats n Hose
quote:and it works both ways too...
I'm gonna save this one for the future
shoes, purses, etc. etc..
Posted on 8/31/11 at 3:58 pm to puffulufogous
quote:
I think I will stay away from financing.
If you can, why wouldn't you?
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