In debt because of rifle purchases?

[Timradcliffe345]

A friend of mine has 25k in CC debt. :banghead:

 

[Geno]

Good thread topic! I pay cash...period. I have never purchased a firearm on credit, and I never will. Cash purchases have their own way of forcing one to live and spend within their means.

 

[Boris Barowski]

I paid firearms with credit card before, but I have an arrangement that the entire sum is drawn from my account the next month. It costs me nothing in interest, and I get some interest while the money stays in my account an extra month
Except a house or car, I don't buy things I don't have the money for, but CC is often a convenient way to pay.

 

[ParaElite]

All my firearms are purchased with cash. If I really need an item, I will sell something I no longer want or because I want another item more. For example, I sold a set of Randall knives and was able to finance the purchase of some really fine firearms. Not a squeek from the wife. The only debt I have is from student loans which I am steadily paying off.

 

[lionking]

If I run across a deal or hard to find gun and I don't have cash then oh yeah I'll use a CC and worry about it latter.I have no regrets.


Although now I have come to a point that I pay it off usually within a month or two.


The first sign of a gun ban (not just because Obama is elected) but real leglislation being pushed I'll get a Uzi,Colt sp1,FAL and maybe a couple more and worry about the charge latter.

 

[Frankl03]

I use cash or I don't buy it. Sometimes I will sell something or set aside cash until I have enough for the purchase.

I have no debt except my home mortgage!

 

[JT in VA]

Credit card companies are just legal loansharks.

 

[jakk280rem]

i voted the second one. sometimes. but on reflection, no i have never used my cc for a gun purchase, just a set of dies or ammo or some other acc.

 

[tomh1426]

I might have to save up but I dont buy anything I cant afford.

 

[Txhillbilly]

I have made gun purchases with CC's and will probably do it again,and again. I usually pay the balance off each month,but sometimes don't. But in my situation it doesn't matter to me if I do or don't. The only bills I have are my utilities,and a car note that will be paid off in a few months,and I hate to walk around with a bunch of cash in my pockets. Without a mortgage anymore it is easy to do what I want with my money.

 

[CoRoMo]

Just as I was about to write out a poll thread exactly like this... the search function saved the day. Sorry if this is considered a resurrection, I like the idea of this poll. I'm glad to see that almost 80% of us don't make irrational decisions like this.

I never spend money that I don't have, or won't have by the cc due date.

 

[ArmedBear]

I do buy things with a Cabela's card, but I often pay it electronically the moment I come home. I just want the points.

 

[husker]

no way i paid off a cc 20 years ago never again will i play with plastic. lay away yes. cc for a gun thats just a stupid move

 

[LTR shooter]

The local shop decided to give me a deal on their last 700 VLS stainless Thumbhole. One of the major card companies kept sending me an application for their card with "0% interest for a full year" and this voice told me- "Buy the Rifle NOW" , so I did.

 

[CWL]

I use cash when buying firearms. No cash, no new firearms.

I do not need to create a paper-trail with CC transactions, even if I pay-off the balance immediately.

 

[Hungry Seagull]

Sorry, no debt here. Cold Hard Cash via serious overtime.

We have disconnected ourselves from credit card or any instrument that creates debt. We do however use a bank card that takes directly from a account for spending online or in person.

Existing debt is paying down asap.

A few years ago we were choking on cc debt. No more. Ever again.

Cash is good, cash is King, more is better.

HOWEVER, I discovered spouse making a 110 dollar purchase with a department store credit card during the christmas season. Said purchase was on sale for a total of about 30 dollars net and reduced further by 15% for buying with new store credit card.

She comes home with this item for about...20 dollars? plus tax. I return with her to the store, next morning, pay off Credit card and closed/canceled the card.

7 days later, credit card statement arrives from store in mail with 23% interest, 8 day billing cycle and zero balance.

So much for the 15% discounts to the suckers who still carry a balance.

I dont hesitate to slash and burn a sale with a new credit card to be closed, paid off in full and card canceled the next morning. Sometimes said store or company has not has a chance to generate an actual card to send. LOL.

Call me scorched earth war fighter with finances. I use this tatic with caution because generally we are not "Welcome" to do so again in the future at the store.

 

[TehK1w1]

Well, exactly 5 months later and we are in a depression, so I suspect a lot of people who have significant CC debt (or debt of any kind) are wringing their hands and trying to figure out what they did wrong and how to fix it.

 

[lightbulb0413]

One thing that no one has brought up is when buying things online, you should really only use a credit card, not a check card that is tied to you bank account. If someone gets a hold of your bank card you will have no money until it is fixed. I would be very weary of using a bank card online.

 

[husker]

never never never never never never never!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! use your banking card or info on a online. did i make my point. if not then you are a fool

 

[Big Bill]

NO CCs!!!! It's foolish to have unnecessary debt in this unstable economy!

 

[Hungry Seagull]

To lightbulb and husker, the bank cc account is isolated totally from those necessary to real life billing. Anything happens to that card, a few minutes with the branch manager kills the card. Numbers are changed once a year.

Total losses in that account is about 5 dollars if someone did manage to breach the information or misuse the card.

Also rules allow me to challenge a transaction or a charge within 24 hours if I detect it coming on.

Good luck!

Regarding the one big credit card we once had with a zero balance, the bank cut the credit line about half. We closed the card and moved in. Boy did they scream and beg for us to stay with them.

No.

 

[CoRoMo]

I think there is a huge difference between...

Using a credit card & paying off the monthly balance in full​

and

Accruing debt on the credit card by adding to an unpaid balance​

Is looks like some here are confusing the use of a credit card and developing debt. I've never carried one dollar of credit card debt as I am responsible enough to pay the statement off before the due date initiates interest and fees.

My method is to use the card so I can accumulate reward points. These points are used once a year in the form of $200 cash that I use for reloading components.

No debt. No interest or fees paid. $200 cash in my pocket every year.

 

[husker]

no way in hell am i going to hope that the bank helps me recover thousands of missing dollars from my account. in 1998 while on vacay my house was broke into by some one that worked for me and new i was on the other side of the US. they stole my company checks and drained the account of $3500 in a day. the bank didnt give a dam about my loses. its a risk that i just wont take. banking online aint for me. ps the jerk got 5 years for it and some other home burglaries he had done

 

[Hungry Seagull]

**Ok Husker, I understand your position. I plead no contest. Thank you for teaching me your experience.

 

[husker]

i have thought about doing what CoRoMo does now that im 40 and not 18 i can handle the responsibility that come with plastic. PS Seagull it took the age of 30 and 1 child before i ever pulled my head out of my ass,and grew up.