Advice with apple store purchase

Discussion in 'Buying Tips and Advice' started by kannesss, May 11, 2011.

  1. kannesss macrumors 6502a

    Joined:
    Feb 18, 2008
    Location:
    Above.
    #1
    Imlooking to buy a MacBook on apples site, and I was looking at the financing options. I have never had a credit card but I did apply for it, and it approved me, my only question is, is this a bad idea? Seeing as it's my first credit card, I don't know how the dynamics work...basically I want to know...
    the Price was around 1100
    .how do I know how much to pay each month?
    .how could I mess this up? I will pay everything on time, I just don't know how I'll know how much to pay.
    .when I buy it will it tell me how much I have to pay per month?
    . Is there a better way to do this? Lol I don't have enough to just buy one but I do to pay it off.
    . And anything else I need to know, so I don't ruin my credit or anything.
     
  2. blevins321 macrumors 68030

    Joined:
    Dec 24, 2010
    Location:
    Winnipeg, MB
    #2
    The thing with those financing offers is that as long as you pay the minimum monthly payment, you won't owe any financing charges during the promotional period. 12 months, I think? The minimum payment will be very small; probably 5% of the total or less. If you don't have the entire amount paid off by the end of the period, you'll get charged all the interest that was waived during the time. So pay it off as quickly as you can; but you have wiggle room on the exact that you'll pay per month.
     
  3. kannesss thread starter macrumors 6502a

    Joined:
    Feb 18, 2008
    Location:
    Above.
    #3
    Ok so say I buy it now, I will get my bill monthly for however much but I can pay as much as I want to and pay it off before the end of the time? The card itself is the black visa one that has the iTunes thing that comes along with it. How does that whole thing work?
     
  4. kannesss thread starter macrumors 6502a

    Joined:
    Feb 18, 2008
    Location:
    Above.
    #4
    The White visa card is the one with the financing options, so I guess I'll get that one.
     
  5. crush500 macrumors member

    Joined:
    Apr 23, 2011
    Location:
    Virginia
    #5
    You have a 12 month no interest period. Basically you just have to pay it off within those 12 months or you are going to be hit with some huge interest rates. You'll get a monthly bill but I can pretty much guarantee it will only have a minimum payment on it. You'll have to figure out your own payments if you want to get it paid off in time. Just sit down and divide whatever your total was by how ever many months you want to take to pay it off and that will tell you your minimum payment you should pay. The credit card is a good deal if you manage it wisely.

    I'd say to only use their credit card if you know you can pay it off in the 12 month period. After that you'll be paying out of your ass for interest. Never make just the minimum payment. That's what the credit card companies want you to do. You'll rack up interest and they'll make a pretty good profit margin off of you. Take advantage of the financing option but don't let it sucker you into the high interest rates that kick in after the no-interest period ends.

    Do you need the computer now? If not then I would suggest to save up until you can afford to purchase it right out. Then you wouldn't have to worry about paying it off within 12 months. It'd be done with.
     
  6. 87am macrumors regular

    Joined:
    Feb 27, 2011
    #6
    If you have never had a credit card before i would not recomend using this offer. One slip up on a payment and then you have to pay ALL the interest retroavtovley. Get a credit ard and get used to using it responsibly before you even think about this offer.
     

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