In debt because of rifle purchases?

Everything cash....

Even cars.... Not a house though... would never have enough will power to save up that much cash... too many good gun/knife/computer parts..... for that

I have gone into debt for a few of my toys. Mainly my CCW and my Shotgun (on the CC). In retrospect though I will never do it again. Loans and CCs got me through college unfortunately but its my highest priority to pay them all off. Yes im reading Dave Ramseys book. knock out the car...the CC...and start on that student loan. YAY!

Used CC to order ammo twice. Otherwise cash. I don't even layaway anything, which I still kick myself over missing out on a German drilling because of- had $350 on me and it was $500, and it was a Thursday when payday was Friday.

I pay my CC balance every month.

See? I did learn something in college!

BTW, as of this month my only debt is my student loan!!

(Wild cheers!!)

I'm a dinosaur who grew up in a poor family who had lived through the depression. We grew a lot of our own food and made a lot of our own clothes. We reused, recycled, and repaired things, not throw them away. I learned not to buy anything till I could afford it. I had to get a mortgage to buy a house but I put 30% down and paid it off in 5 years, same for car, paid 30% down and paid off in 2 years. When I buy a gun I can do it because I saved for it and I can afford to spare the cash. I don't sell guns so I haven't bought that many but they have accumulated and they are all well used. My gunsmith knows me by first name and gives me a good deal because he knows I will keep shooting my guns till they finally disintegrate. He has a steady income from my guns keeping them in good shape because I know my limits and I am not going to screw them up with amateur gun smithing. If I can't afford it I won't get it, that simple.

One time I financed a Rem 700 VS because it was a serious deal, two weeks from payday, with the store in-house financing through Wells Fargo. Turned out to be a terrible card with terrible fine print. Never again.

On a related note, my dad has not only never financed a gun, he has bartered or inherited most of his. He once spent a whole summer tying flies to trade for a S&W 1500 in .270. That was 23 years ago. He won't even ask my mom for permission to buy them.

You just filled out a form 4473 AND you add an electronic billing record. No thanks, cash and carry, and preferably, private sales.

I always buy my guns and ammo on a CC... I like the sky miles and rewards. I usually pay it off right away. However, I do have a good chunk of carry-over balances due to being in grad school. But I cant blame that on the guns.

Never. I buy one gun and needed accessories on the CC then pay it off (usually within 2-6 weeks) before I think about buying another gun. Won't be buying any more until I pay off the 700 bucks left for my new AR. Shouldnt take too long to do, even with car payments and a crappy college kid job... I always pay my bills ahead of time and pay far more than the minimum payment, so I should be fine. I also keep at least a grand in my account at any time so that I can afford any problems that may come along.

Don't buy if you can't afford!

I'm only 16 and I all ready made my mind up CC all the way .... sike i will use cash for everything and forget student loans go military and have them pay for it and don't get shoot while doing it go reserves!!!!

I made money on my black rifle collection from the last AWB. At least 200% profit on everything. Mags I picked up for .25 to $1.00 on yard sales around Camp Lejeune went for $25 bucks during the AWB. AWB was great for the economy.

i have used a credit card as a matter of fact i always do but it is paid off right away, i normally don't make a habbit of buying things that i don't have the funds for no matter what it is or how bad i want it.

Come 12/29/2011 I will run up all my cards on guns, ammo, and survival gear, then I will move into a cave and wait for the apocalypse as foretold in the Mayan calender.






I'm just kidding, btw.

...You really know your guns pal.

I might close early today.

I'll bite

Okay, I'll admit it. I've got a pile of credit card debt, and it's largely do to firearms purchases.

Stupid, stupid, stupid, stupid. :banghead:

But there it is. I acquired guns and reloading supplies just a little faster than I acquired money, and before I knew it, I had an overwhelming pile of debt that is tough to explain to myself.

I've learned my lesson though, and am paying them down. I promised myself I'd save up and buy that M1A as soon as the cards are paid off (with cash that is). .. that's my carrot. We'll see.

The good news is, with the current free falling dollar, some of my stuff has actually appreciated faster than the interest has piled up. So, Mr. Bernake, fire up the printing presses! I'm ready!

I do not consider using a CC that always gets paid down to a zero balance each month, going into debt.

I have used CCs to buy LOADS of firearms & related stuff ... but it has all been paid for when the statement arrives.

I made money on my black rifle collection from the last AWB. At least 200% profit on everything. Mags I picked up for .25 to $1.00 on yard sales around Camp Lejeune went for $25 bucks during the AWB. AWB was great for the economy.

Click to expand...

BOO!

When the SHTF at TEOTWAWKI it won't matter if you have $10k in credit card debt, just as long as you have tangible resources like guns, ammo and food.

Click to expand...

The problem is that you don't know when that will be, so you could be in deep and that type of SHTF never comes, or it does and by that time you live in a box and have nothing.


I am in debt right now because of a rifle purchase, but it wasn't the rifle alone that caused it. I put my order in on a custom rifle, paid the almost $700 downpayment with no problems, and had about $1500 left in the bank. And then a week later my truck broke down, requiring almost $900 worth of work, and two weeks later rent and all those monthly bills were due. So now I have a low (ie about $500) credit card bill that I haven't been able to fully pay off, but am putting at least $200 toward each month.

I do order shooting supplies such as ammo, mags, and a few other things off the internet using my cc, but before this whole mess I paid it off in full every month.

BTW, cancelling a cc right after you get it IS bad for your credit, you are much further ahead just cutting up the card and leaving the account open for a year or two, then closing it. That way you have no debt and no problems from cancelling.

I use my CC all the time, but I kind of have to. I am self employed and my clients all pay me once a month, on the first of the month. I use my CC all month for gas, food, etc. Then I just pay it off when I do my monthly bills. It makes things a lot simpler and leaves a nice paper trail come tax time. It's also much easier since I order most guns online.

I do have a Bud's card so I can take advantage of the "90 days no interest" promotions when I'm a little short and just HAVE to have something.

oh by the way its in 2012 not 2011 I think I might go and sit on the beach pop a corona insert a lime and watch


lol jk jk

Charge It!

My motto is "Charge It." My wife's motto is "PAY that damned thing off this month." I'm afraid to leave sharp knives within easy access of my wifey's hands. Cutting my throat would solve many financial problems, then she could sell my stocks that have plummeted recently, and she could start over fresh. My wifey is the only reason I'm not in Debtor's Prison. Get married to an intelligent woman, or go bankrupt. cliffy

.45 guy is right. No one knows for sure the formula the bureaus use to calculate your score, because they won't disclose it, but as far as I can discern, you should have at least three, but no more than six lines or revolving cred open, the longer the better. If they are maxed out, that hurts your score. If they have zero balances, that hurts your score. (You are being granted credit and not using it, 'abusing' lenders, and leaving open the possibility that you could go max them out tomorrow, and be in trouble.) It seems that if you have had at least a 33% balance on them, it doesn't hurt you. I just got the gift of a government travel card, which is paid off by the government when I use it, but goes on MY report, and I get to keep things like FF miles from it.

Quick version, installment credit looks better than revolving credit, but only if it's for certain durations and a minimum amount of time. If you go to a credit union, and secure a cash loan in the amount of at least $800 (meaning, GIVE THEM A DEPOSIT OF THE SAME AMOUNT TO SECURE THE LOAN), that you take at least 8 months to pay back, it will put a very positive mark on your credit. If your credit is messed up, there are services that offer to clean it up for you, for anything from a few hundred to a few thousand dollars, with varying degrees of effectiveness, BUT, it's nearly impossible for anyone to clean up any bad stuff in your credit report permanently if you still owe money on it. Of the things that ARE paid off, it's a lot easier to get it removed if it's at least two fiscal years old. NONE OF THIS IS GUARANTEED. Anyone who tells you it is is lying.

Credit is a mother-effer. Of course we should all be prudent and never go into debt for anything. But if you go your whole life without credit, (without having played the game,) and then try to get a mortgage, if you get accepted at all, you will get hammered. Now more than ever. You have to have it, use it, not OVER use it, and not listen to the lenders to know when you are doing something stupid, because it is not in their interests to help you.

I do use CC's to buy most all my "toys",yet pay them off when the bill comes.
That said,I buy at a rate that I can't afford to live anymore.
That is what the savings account is for. My money is working better for me
sitting in my safe and ammo cans then it ever did in the bank.
With the dollar dropping,my though is i'm better off spending it on
guns and ammo now,then wishing I did later.

Usually pay cash but my when I go to auctions I have to use the credit card.