Has anyone used Newegg finance or bill me later ?

[compguy786]

Hey fellow members,
I have been thinking about getting a new camera recently from newegg, a Canon SD890 IS, which is selling for about $319 as of right now. I was looking at the newegg finance option, and also Bill me later. I wanted to know, how easy it is to use these services ? and which one is preferred. I want to pay this item off in say 3-4 months, so that would be affordable for me, however, im waiting to sell my camera (its in my signature !) so i can buy this thing ! however
i dont think its gonna sell anytime soon, but i do want this camera ! any suggestions ?

 

[TallBill]

To answer your question, no.

 

[onlyCOpunk]

It's $319, save the cash. No point financing something that cheap, the interest that those two services charge will end up making the camera cost at least $50 more over a 3-4 month period.

If you really want the camera that badly, and don't have the cash, go to Best Buy or something and use one of their credit cards, at least they will offer a couple months interest free.

 

[finite automaton]

If you can't afford it now, don't buy it now.

 

[JohnCU]

i knew exactly what the first couple of posts would say.

my thinking: you might die next week so go get the f'n camera, then again that thinking has landed me in a world of debt so maybe don't listen.

 

[TheoPetro]

Originally posted by: finite automaton
If you can't afford it now, don't buy it now.

WINNER!

only finance assets that will appreciate or will cause you to earn a return greater than the cost of financing. If it is a necessary, depreciating asset (car) then just deal.

"but I waaaaaaaaaaannnnnt itttttttt"

SHUTUP STUPID! you dont NEED it, you CANT afford it, so DONT buy it.

 

[BeauJangles]

Originally posted by: onlyCOpunk
If you really want the camera that badly, and don't have the cash, go to Best Buy or something and use one of their credit cards, at least they will offer a couple months interest free.

Hell no. If you don't have the money, don't spend it!

 

[DaveJ]

I've got the Newegg card and haven't had any problems with it. Payments can be made online easily and they offer 0% interest for 6 or 12 months depending on amount purchased (I think it's 6 months for $500 or less and 12 months for anything over that).

Provided you can pay off the balance quickly and you've got the money to cover it just in case, there should be no problem. I bought the parts for my last machine in July on the 12 month 0% plan, and it'll be paid off next month.

FWIW, I have no problems buying on credit but I refuse to pay interest on anything except my mortgage, and I don't buy more than I can afford to pay off well within the 0% interest period.

 

[Baked]

Maxed out all your CCs? Apply for another one, it's the American way.

 

[TheoPetro]

Originally posted by: Baked
Maxed out all your CCs? Apply for another one, it's the American way.

hehe either that or just refinance you home! Then you can buy all the cameras you want!

 

[OCGuy]

Wow...its a small item. Finance the hell out if it if you want. Its not going to break you later.

 

[TheoPetro]

Originally posted by: Ocguy31
Wow...its a small item. Finance the hell out if it if you want. Its not going to break you later.

sigh

its this mindset that has landed so many Americans in trouble with their CCs and Mortgage lenders.

now if you will please excuse me I am going to go swim in my large pool of money

*Theopetro swims

 

[compguy786]

hahaah
i dont have any CCs yet, thats another reason why im asking. I can afford it next month, when i can get paid, but i need to start building some credit as well.

 

[OCGuy]

Originally posted by: TheoPetro

Originally posted by: Ocguy31
Wow...its a small item. Finance the hell out if it if you want. Its not going to break you later.

sigh

its this mindset that has landed so many Americans in trouble with their CCs and Mortgage lenders.

now if you will please excuse me I am going to go swim in my large pool of money

*Theopetro swims

No, its the morons that get in over thier head. Using credit to purchase things that you dont want to shell out all of the cash out for once is not bad, not matter how many times you hear it. If you have a low APR, it can actually be used as a tool. Its people who abuse it, and spend more than they will ever be able to pay back using minimal payments that have problems.

Self control.

 

[Chiller2]

I bought a GPS with Bill me Later but I paid it off in the 90 days so I paid no interest.So if you pay it off early it is worth it. It was simple and easy and I got the item I wanted then instead of having to wait.

 

[necine]

I idiotically bought the pieces for my PC from bill me later because of 6 months free interest. I figured I would pay it off in 6 months and it wouldn't be a problem. Well, I hit a financially tough time and my company went out of business. It's been like 9 months and I'm still paying it off. Sucks! They charge like 20% interest rate. Oh well, in 3 months I paid off about half so I'm doing okay. But I would stay away from it because shit happends.

 

[LikeLinus]

Originally posted by: compguy786
hahaah
i dont have any CCs yet, thats another reason why im asking. I can afford it next month, when i can get paid, but i need to start building some credit as well.

That is NOT the way to build credit (Bill me later). Get a CC and only spend what you can pay off each month (i.e. have the cash already on hand or know you can spend it from your monthly income). Do not buy more than what you can pay in cash. CC is a good way to build credit, but only if you can pay the balance. The longevity of your accounts in good standing is what really builds your credit score.

Ocguy31 said "self control". It's very hard to do for some people, but you need to learn to do it. Don't spend more than you can afford to. Use the CC to your advantage! SAVE SAVE SAVE that cash, then spend it on CC and pay it off!

 

[OCGuy]

Originally posted by: LikeLinus

Originally posted by: compguy786
hahaah
i dont have any CCs yet, thats another reason why im asking. I can afford it next month, when i can get paid, but i need to start building some credit as well.

That is NOT the way to build credit (Bill me later). Get a CC and only spend what you can pay off each month (i.e. have the cash already on hand or know you can spend it from your monthly income). Do not buy more than what you can pay in cash. CC is a good way to build credit, but only if you can pay the balance.

Ocguy31 said "self control". It's very hard to do, but you need to learn to do it. Don't spend more than you can afford to. Use the CC to your advantage!

Actually, you need to carry a small balance. The credit report factors in low or no activity on your accounts.

"Most" people in the industry recommend 33% maximum of your limit at all times. Having it report a zero balance every month is no bueno when you are trying to establish a credit history.

 

[LikeLinus]

Originally posted by: Ocguy31

Originally posted by: LikeLinus

Originally posted by: compguy786
hahaah
i dont have any CCs yet, thats another reason why im asking. I can afford it next month, when i can get paid, but i need to start building some credit as well.

That is NOT the way to build credit (Bill me later). Get a CC and only spend what you can pay off each month (i.e. have the cash already on hand or know you can spend it from your monthly income). Do not buy more than what you can pay in cash. CC is a good way to build credit, but only if you can pay the balance.

Ocguy31 said "self control". It's very hard to do, but you need to learn to do it. Don't spend more than you can afford to. Use the CC to your advantage!

Actually, you need to carry a small balance. The credit report factors in low or no activity on your accounts.

"Most" people in the industry recommend 33% maximum of your limit at all times. Having it report a zero balance every month is no bueno when you are trying to establish a credit history.

That's where car loans and home loans come in, is that not right?

 

[compguy786]

yeah,
my plan is to get a CC, and get small stuff to pay off. My friend also does that, spends like 10 bucks-20 bucks max, and pays it off.

 

[FoBoT]

i use bill me later for newegg and geeks.com and some other sites
just like a CC, but even easier