Anyone Here Used Amazon Visa For Financing? (I Got The Card!)

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WelshBloke

WelshBloke

Lifer
Jan 12, 2005
33,512
11,649
136
Gizmo j said:
And as I said before I donate plasma for extra cash.
Click to expand...
Yeah but you're already doing that and not saving anything so when you have a payment to make every month where's it going to come from?

Say you'd bought this laptop last month where is today's payment going to come from right now?

Or, if you buy it right now, what are you going to do differently this month to make sure you have enough to pay the bill in a month. And are you going to be able to do that every month for a year?
 
nakedfrog

nakedfrog

No Lifer
Apr 3, 2001
63,428
19,830
136
Maybe you can use this to understand why paying it off sooner rather than later is better. I just guessed at an interest rate of 21%.

Credit Card Calculator

Free credit card calculator to find the time it will take to pay off a balance, or the amount necessary to pay it off within a certain time frame.
www.calculator.net www.calculator.net

1753389061683.png
 
lxskllr

lxskllr

No Lifer
Nov 30, 2004
60,791
11,139
126
Looks like he has 0% interest, but the fine print matters(and no I'm not gonna read it). Make a payment late by a single day, and they can really fuck you over. Or not. Hard to say unless you read the entire agreement, and they're super fun to read.
 
nakedfrog

nakedfrog

No Lifer
Apr 3, 2001
63,428
19,830
136
Gizmo j said:
There is no interest for the Amazon Visa.
Click to expand...
Ah, I see it does have a 0% APR listed in there, still, better to pay it off sooner to avoid the risk of the unknown, maybe you get sick and can't donate for a few weeks or something.
 
M

manly

Lifer
Jan 25, 2000
13,556
4,228
136
nakedfrog said:
Ah, I see it does have a 0% APR listed in there, still, better to pay it off sooner to avoid the risk of the unknown, maybe you get sick and can't donate for a few weeks or something.
Click to expand...
It was mentioned earlier that 0% APR has one scummy catch. If you don't pay off the entire balance within 1 year, the bank gets to charge full interest from day 1.

Or as @lxskllr just mentioned, one late payment and good bye 0%.

Suffice to say CC-issuing banks know precisely how the game works, and "the house always wins."
 
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nakedfrog

nakedfrog

No Lifer
Apr 3, 2001
63,428
19,830
136
manly said:
It was mentioned earlier that 0% APR has one scummy catch. If you don't pay off the entire balance within 1 year, the bank gets to charge full interest from day 1.

Or as @lxskllr just mentioned, one late payment and good bye 0%.

Suffice to say CC-issuing banks know precisely how the game works, and "the house always wins."
Click to expand...
I think that's pretty standard for 0% APR deals, but fortunately the cards I use do actually track balances that are under the 0% APR promo and when that balance will come due, along with how much interest is going to show up if I fail to meet the conditions. But I also know how credit cards work, so I've got that going for me, which is nice. And I'm not currently offering bodily fluids in exchange for funding. Maybe if my OnlyFans takes off.

No, I don't actually have an OnlyFans... tempted to sell feet pics though.
 
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yottabit

yottabit

Golden Member
Jun 5, 2008
1,672
874
146
nakedfrog said:
Ah, I see it does have a 0% APR listed in there, still, better to pay it off sooner to avoid the risk of the unknown, maybe you get sick and can't donate for a few weeks or something.
Click to expand...
I actually think in Gizmo’s situation it would be better to put the extra cash aside. No reason to pay it off early at 0%, and I’m not familiar with terms but often for these installment loans “paying ahead” reduces the principal but you’ll still be on the hook for that monthly payment due every month.

Meaning if he puts an extra $200 one month, then misses a payment the next month, he’d be in a lot worse shape than if he had kept that extra $200 in the bank for a rainy day.

Anyway, I too feel bad that Gizmo is in this situation. Although I guess it’s still “first world problems”

For me personally when I hit an income level where I realized I had enough discretionary income I could basically buy a new Macbook Pro every month without seriously effecting my budget felt like I finally “made it”. Although this is coming from someone who lives off beans and noodles and drives 20 year old cars so my baseline expenses are probably a lot lower than many. Computers and tools are pretty much the only things I splurge on these days.

I hope you enjoy your gaming laptop Gizmo! Let us know what you play.
 
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nakedfrog

nakedfrog

No Lifer
Apr 3, 2001
63,428
19,830
136
yottabit said:
I actually think in Gizmo’s situation it would be better to put the extra cash aside. No reason to pay it off early at 0%, and I’m not familiar with terms but often for these installment loans “paying ahead” reduces the principal but you’ll still be on the hook for that monthly payment due every month.

Meaning if he puts an extra $200 one month, then misses a payment the next month, he’d be in a lot worse shape than if he had kept that extra $200 in the bank for a rainy day.

Anyway, I too feel bad that Gizmo is in this situation. Although I guess it’s still “first world problems”

For me personally when I hit an income level where I realized I had enough discretionary income I could basically buy a new Macbook Pro every month without seriously effecting my budget felt like I finally “made it”. Although this is coming from someone who lives off beans and noodles and drives 20 year old cars so my baseline expenses are probably a lot lower than many. Computers and tools are pretty much the only things I splurge on these days.

I hope you enjoy your gaming laptop Gizmo! Let us know what you play.
Click to expand...
On the one hand, you're right, on the other hand, I'm not sure I have enough faith that that money would be left there... which is why I advocate for him just paying it off as quickly as he can.
 
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Red Squirrel

Red Squirrel

No Lifer
May 24, 2003
71,189
14,031
126
www.anyf.ca
Make sure you set up online banking so you can actually see the card balance and make payments. Every week or so login, look at balance, and pay it. Only thing that's a bit annoying is credit card transactions, including payments, tend to be delayed so something to keep in mind. It's easy to use the card over time and forget how much stuff adds up. So try to always be on top of it. Better to be on top of it than to wait for the statement to come in.
 
Chaotic42

Chaotic42

Lifer
Jun 15, 2001
35,305
2,438
126
When do you go back to construction school? Have you been studying the subject you were struggling with?
 
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