Guns on Credit or Layaway

[Sapper771]

I guess I am in the minority. I use a CC to purchase firearms. I use the CC to build on my credit. I dont have bad credit, I just want to make it better.

CC's are dangerous though, so I have rules. I only put one item at a time on it , then I pay it off $100-$200 a month. I also do not purchase anything that is more money than I have in the bank. That way , if need be, I can pay the entire amount. Any extra money that I receive is usually thrown at the CC bill too.

I can get an item that I want, not deplete the funds in my account severely, build upon my credit, and easily afford the $100-$200 monthly payments I make. This has worked well for me , YMMV.

I have used layaway before too. Most places around here dont do layaway anymore though. Most say that they had too many issues with it.

 

[bainter1212]

I use a credit card exclusively for gun purchases. That way I can build up my credit faster, buy the firearm I want when I want it, and pay for it over 2 or 3 months.

My CC is limited to $1000 so no runaway debt problem here.

 

[-Gadsden-]

Credit cards really do not need to be used much more than a few times a year to remain active, and usage is not a high percentage of how the credit bureaus calculate credit score. On time payments, keeping a low balance and length of time that credit line has been open are more important. I use my credit card once every 3 months or so to make a McDonalds purchase.

I hate paying interest on anything and would much rather save the money and buy the gun with cash than with credit. If I can't make a purchase with cash comfortably, do I really have any business buying it with credit?

The issue with "rewards cards" is that they often change the spending habits of those who hold them. IF you maintain your normal spending habits, then you are getting a deal. But if you buy more than you normally would (consciously or sub-consciously), you're just buying the points and not earning them. Not to mention lots of rewards cards have fees which can further blunt any actual net benefit.

 

[gspn]

Depending on the card, the interest doesn't apply if paid in full at the end of each month.
The reason a lot of people use credit cards is for the rewards....air miles, cashback, hotel rewards, etc....if you pay your balance off in full every month and avoid those interest charges, and your card doesn't have a ton of hidden fees, the rewards make it worth using a credit card almost exclusively, if you get the right cards.
I do a lot of traveling for work, so I use my card to pay those expenses and repay my card costs with my company's travel reimbursement before the end of the month...so I get loooots of free miles, rewards, hotel stays, etc...
I have taken entire vacations using nothing but card rewards gained exclusively from running company travel funds through my card.
Totally legit, and in my work it's pretty common to do that.

Boom. That. I have the cash...but I get get free stuff for using the card and I pay no interest...and i don't have to worry about carrying much cash.

When I bought my last TV I didn't want the risk of carrying $3k in cash down to Best Buy. I used a credit card, got points to use toward other stuff, paid no interest, and had zero risk of losing cash to a misplaced wallet or worse.

Unless there is a strong and compelling reason for me to use cash (ie no sales tax) then I'm using the credit card. It's less risk, zero interest, and I get other benefits for running the purchase across it.

In the end it depends on why you use the credit card...convenience...or necessity. There are a whole lot of folks who don't need it...have a butt ton of cash...and use if for the convenience.

 

[hey_poolboy]

We have no credit cards. I'd love to be debt free, but we still have a mortgage.
All of my hobby stuff (guns and mountain bikes) gets bought with cash. Most of it is from side jobs, that way it isn't coming out of the budget. My lgs has a pretty easy layaway policy, but I'm too impatient to take advantage of it. I'll just save up and keep my slush fund handy.

Sent from my DROID RAZR using Tapatalk 4

 

[browningguy]

Personally I use a credit card for almost every purchase I make. I get good points and rewards on my Amex and MC.

And I really don't see a problem with people using credit cards for purchases of long life items as long as they have a reasonable interest rate, they are also good things to have available for emergencies when you might be short of cash flow for a couple of months.

Anybody can abuse anything of course, and this isn't addressed to those people.

 

[AlexanderA]

I use credit cards a lot, but I always pay them off in full every month. That way I never pay interest, but I get a lot of reward points. I would never go into debt to buy a gun, or for that matter anything that wasn't absolutely necessary. Live within your means, and you'll be a lot happier as you go through life.