credit card advice

[lilmikey]

I have a amazon chase card and use it often but have been very very responsible with it(I buy little things from amazon on it and food every once in awhile) I've seen the debt trap so I have sent my payments in on time I know credit cards can be a trap that why I avoid huge charges. last month was kinda steep because of my trip to TN but generally speaking its pretty low. My payments have always been on time.

I saw the Mark Lee PRS and actually my sis boyfriend works for them so I am trying to do something on that end. it was decently priced at 499. I have been wanting a PRS and Mark Lee signature is a great opportunity.

with that being said the only way I could do it is if I used my credit card and made payments. Is this a good idea? I would always make the payments of course but would it be wise?

[NurseBettyLu]

Credit cards can indeed be a trap. It took me eight years to dig myself out from under my credit card debt, and I swore never again. I'm pretty much against revolving debt of any kind, so I have a policy of paying off my cards every month. If that's impossible, at least I ask myself, is this something I can be reasonably sure of paying off within six months? I'm not sure I'd put myself in debt for a guitar, but then again I'm not a musician. Just be careful. Unmanageable debt is a spirit killer. I know from experience.

[lilmikey]

Credit cards can indeed be a trap. It took me eight years to dig myself out from under my credit card debt, and I swore never again. I'm pretty much against revolving debt of any kind, so I have a policy of paying off my cards every month. If that's impossible, at least I ask myself, is this something I can be reasonably sure of paying off within six months? I'm not sure I'd put myself in debt for a guitar, but then again I'm not a musician. Just be careful. Unmanageable debt is a spirit killer. I know from experience.

I can totally understand this my Dad is unhappy with the fact that I even have a credit card but I constantly remind him that I've seen the damage they do and that I always will be responsible heck I even sent one payment in early

[The Unknown Gomer]

I'm another one who pays off the credit cards in full every month. I just don't like to be in debt to anyone. I learned my lesson when I bought my very first computer and put it on a credit card to make payments on it. When I discovered that after making several payments toward paying off the PC, with all the finance charges, it was like I hadn't paid off ANYTHING on it, I pulled the money out of my savings account and paid that sucker off the next month.

Someone asked me one time what percentage rate I had on my credit card. :confused: I honestly had no idea. I still don't. I never pay finance charges, so I don't have a clue. I get my cards based on what bonuses they pay out. Like MY Amazon Visa, every 2500 points, they send me a $25 Amazon gift certificate. Since I very rarely pay cash for anything, they've sent me a LOT of those. :cool: The Visa card I got from my bank netted me a fairly good sized spiral cut ham one time a few years ago. Their credit limit was piddly though, so I canceled the the account after a few months. The ham lasted longer than the account, I think. :D

The only time I'll do the "make payments" on something is if it's a "X number of months, same as cash" deal, like Best Buy or Circuit City frequently offers. That way there are no finance charges to worry about. I just divide up the payments, pay a chunk of it off each month, and get whatever it is paid off the month before they're going to start charging the finance charges.

What you should probably do about the guitar is figure out how much your credit card company is going to hit you up with in the finance charges during the length of time that it takes you to pay them off, and add that to the cost of the guitar, and see if it's still an amount that you're willing to pay. If it is, that's probably your answer. :)

[NurseBettyLu]

It's also a good idea to pay more than the minimum payment. Pay off as fast as you can to avoid the finance payment trap. Yeah, I'd say buy your guitar, but pay it off as fast as you can. Credit used responsibly can be a good thing, you need to build a good credit history so you can get financing for big important things like cars and houses. Credit gone wrong can be a nightmare. I can understand why your dad is anxious, can't you? I got buried in credit card debt and it was a long painful process to get out. He doesn't want that happening to you. Neither do I. I just know you'll handle this wisely, and I hope you get a lot of pleasure out of that new guitar!

[lilmikey]

It looks like I will eventually get the guitar cause my sis boyfriend works for them in Stevensville. I sent my sister the link and her boyfriend will tell his boss about it I dont mind paying full price I am just worried about availability which right now doesn't look like there will be a problem. If I can wait 3 to 6 months or so I might be able to get a discount

[The Unknown Gomer]

...If I can wait 3 to 6 months or so I might be able to get a discount

Not to mention that would give you time to save up a part or all of the cost in advance, so you could pay it off in a shorter amount of time.