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Buds Gun Shop

Discussion in 'General Gun Discussions' started by Antihero, Dec 25, 2019.

  1. Antihero

    Antihero Member

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    You misunderstand. I HAVE the cash to buy it easily, I'm not financing it because I can't afford it. I'm financing it to help my credit.
     
  2. LiveLife

    LiveLife Member

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    So what did you decide?

    If solely wanting to build credit, there may be better financing options with better terms.
     
  3. Antihero

    Antihero Member

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    You are not wrong on the "everyone is wealthy online" thing lol
     
  4. Antihero

    Antihero Member

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    You are not wrong on the "everyone is wealthy online" thing lol
     
  5. Antihero

    Antihero Member

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    I havent decided yet
     
  6. Rule3

    Rule3 Member

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    I "small" purchase like a gun is not gonna do much to raise your credit score.
     
  7. Rule3

    Rule3 Member

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    It also depends on your credit history as to what interest rate they are gonna hit you with! It's like "everyone" approved for certain credit cards but the fail to see the 29.99% interest rate!!
     
  8. crestoncowboy

    crestoncowboy Member

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    But if its 0 interest and he pays it off at the billing cycle like he stated he plans to do it wont hurt a thing and will help some. Not only does available credit help your score but also a higher average age of accounts helps.


    But to the point of the op I'd look into the larger chains though. Far more likely to offer a 0 apr. 0 annual fee card that actually reports to the credit bureaus. As stated Cabelas is one that I know fits that plus gives a percentage off or back on any purchase. Lowes home improvement as well. Dicks used to as well but I havent been in one in 10 years. I'd bet academy does too.
     
  9. crestoncowboy

    crestoncowboy Member

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    Could have called western sky. Lol. 800 or 900 percent interest. You definately have to watch the interest though no doubt. But store cards are almost always 0 percent if you pay the balance in full on the billing cycle plus a percentage off or a percentage back toward in store purchases. The OP said he had the money to do so. So the 24 percent on a carried over balance wont apply

    But no I wouldn't pay much interest at all on a gun to raise credit as it will be a very small help. And certainly not 24 or 29 percent. But if the OP reads the papers you sign that shouldn't be an issue
     
  10. jdc1244

    jdc1244 Member

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    Nonsense.

    There's nothing wrong with layaway.
     
    guyfromohio likes this.
  11. Rule3

    Rule3 Member

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  12. Styx

    Styx Member

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    It's all relative. There's not much of a difference between a 90 day layaway and 90 day financing with zero interest for 90 days in Bud's case. Everything is continent on the terms. Some layaways are a bad route to take and some are good per the fine print. Same when in comes to financing.
     
    Insignificant bill likes this.
  13. Styx

    Styx Member

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    When building credit, it does not matter how much you finance per se. What matters is debt to available credit ratio, the age of the account, and having a lengthy payment history. I get the impression that some here seem to think that big purchases will help credit and smaller purchased will not. Of course there are other factors, but generally speaking, the price of an item does not matter; payment history and percentages of debt does.

    No offense to anyone here, but OP IMHO, you're not going to get good credit building advice in this thread. I'm seeing a lot of misinformation. I'd suggest going over to the My Fico Forum with any questions or concerns.
     
    Bang! likes this.
  14. crestoncowboy

    crestoncowboy Member

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    I don't think that's what anyone meant. At least in my case I was saying that it's a good plan but it won't have a huge impact because
    1. Its a new account so it actually drives down the average age of all acounts. And it will most likely be a hard inquiry which will also hurt.

    And 2. To buy most guns, sporting goods etc they will get a 1000 dollar or so credit line if that's all you need. So available credit doesn't go up a huge amount either.

    In the end I think we are saying the same thing. It is about the only way to increase your score, and the right track. but don't expect it to go from 450 to 750 or anything.
     
  15. Insignificant bill

    Insignificant bill Member

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    If I couldn't pay for it in the interest free time frame I wouldn't have bought the firearm.
     
  16. Fine Figure of a Man

    Fine Figure of a Man Member

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    I’ve never heard of anyone retiring and living off their high credit score.
     
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  17. Antihero

    Antihero Member

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    What about retiring while driving the car they got a good payment on because of their high credit score or retiring and living in the house that they can easily afford because of their high credit score.

    Some credit can be very handy
     
    Styx likes this.
  18. Fine Figure of a Man

    Fine Figure of a Man Member

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    When someone retires, mortgage and car payments should be nothing but distant memories.
     
  19. Poper

    Poper Member

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    Buy it on a credit card and pay the card in full when the bill comes. You will be surprised what that can do for your score.
     
    Last edited: Dec 31, 2019
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  20. Antihero

    Antihero Member

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    "Should" be.

    But you probably also bought the house with a mortgage and not with cash, so still valid
     
  21. Styx

    Styx Member

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    Well you're not going to get to that point with bad or no credit. You wouldn't even been able to purchase a house to pay off. Even if you are able to retire without a mortgage payment or car payment, without good credit you would have had paid a lot towards interest instead of your retirement fund. In a round about indirect way, many people are able to retire and live off of their prior credit scores.
     
  22. Fine Figure of a Man

    Fine Figure of a Man Member

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    A home mortgage is not a bad thing if you can pay it off in 10 of 15 years because your home will most likely appreciate in value. A substantial down payment on a home you can afford and a steady income will secure a low interest rate. This isn't just a theory, I speak from experience.
    I will never understand the mentality of anyone that retires and still has mortgage and/or car payments.
    A credit score is really a debt score. It's something creditors promote and market to entice borrowers, like a carrot dangled in front of a mule.
     
  23. BAMASUPER45

    BAMASUPER45 Member

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    I have more than a few gun/rifles, and to keep the wife from asking me "Why do you need another gun?", I have put 4-5 on layaway without interest. I have done a pretty good bit of bussiness with the owner, and he gives me 3-6 months to pay it off. Me and my wife are retired, so she would notice that large of an amount missing from our joint account. I just bought another new bike, so it will be awhile before I buy another gun.(ha-ha)
     
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  24. Poper

    Poper Member

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    Maybe not so distant.
    I am 64. My 04 Ford Ranger has been paid for for quite a while. It is cheaper to fix it than buy something new.
    I will pay our last mortgage payment this year (2020).
    Retirement will require budgeting unless we hit the lottery. Because I very rarely buy a ticket, I am not expecting any such windfall.

    30 years ago my credit rating was about as bad as it can get. When decided to take control of it, I got a credit card with a small limit (about $400, IIRC). I would buy an item about every 3 months or so using the card but only when I already had the cash. When the bill came, I would pay it in full.
    Within 3 years my credit score was in the mid-to-high 700's.
     
    Styx likes this.
  25. Styx

    Styx Member

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    Because some people can only afford a home later in life. Others had other financial issue and problems that have either kept them from buying or being in the position to pay back a few hundred thousand or so plus interest within 10-15 years... Especially those who have children to raise and get through college and possibly medical bills to deal with.

    Everyone's situation is different, and won't mimic yours.
     
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