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Apple really messed up order and maybe my credit
- Thread starter b0nehead
- Start date
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i think the advice about cash wasn't necessarily referring to "cash" as in bills and coins. (even if he said cold and hard...) it's "cash" as opposed to "credit" - the money you have and can see, as the poster said later. he wasn't really suggesting that we go to the apple store with 100 $20 bills... even if he was, the wise saying is to spend what you have.
regardless, i sort of feel for you for being misled, perhaps, but i also agree with some others that what you were doing was trying to get the best of both worlds - get the machine fast but pay later.
btw, either you are getting a big chunk of money for christmas or you make a lot (but spends most of it!) of money to be able to afford a computer after 12/20 but not before!
pay as much as you can. you will incur some finance charges, but your credit rating will not be harmed permanently.
regardless, i sort of feel for you for being misled, perhaps, but i also agree with some others that what you were doing was trying to get the best of both worlds - get the machine fast but pay later.
btw, either you are getting a big chunk of money for christmas or you make a lot (but spends most of it!) of money to be able to afford a computer after 12/20 but not before!
pay as much as you can. you will incur some finance charges, but your credit rating will not be harmed permanently.
i'll probably be flamed for saying it, but the only thing apple did wrong here was that their idiot rep told you it wouldn't be billed till after the 20th. aside from his (i would imagine) guesswork, it's not up to Apple to ship according to your pay schedule... if you place an order, you had better have the ability to pay. This is nothing more than floating a check, IMHO. if i floated a check, and the cashier *promised* that it wouldn't be deposited for 3 more days, and it hit early and bounced, i'd still have floated a check, it's still my fault.
the rep is an idiot. but apple themselves acted in good faith-- you give them a credit card number and point to the 'book you want, they ship it. it's not walmart and there's no layaway.
paul
the rep is an idiot. but apple themselves acted in good faith-- you give them a credit card number and point to the 'book you want, they ship it. it's not walmart and there's no layaway.
paul
probably... but i think what you said is right.
i know this is not a forum to tell others what to do with their money, but i hope you (the original poster) don't cut *this* close in other aspects of your financial life.
just as an example, when i write a check of any amount, i make sure to transfer enough money to cover that check first. this is basic, i know, but even if i know that it will take a few days for the mail and the check to reach the destination and several days more for that check to be deposited and funds withdrawn from my account - i know all this - but i still make sure to transfer the money first. who knows, i may forget to transfer later. the point is, it's more about the attitude than the practicality or logicalness of it... it's just a good practice.
Re: Apple really messed up order and maybe my credit
Well yes apple did make a mistake, but this shouldn't affect your credit rating at all. First you stated you didn't go over your credit card limit, and second it sounds like you have every intention of paying off your balance before getting the computer. It also sounds like you will have the cash to pay off the computer on the 20th right?
This type of behavior will not ruin your credit rating. What ruins a credit rating is late or missed payments, bankruptcy, and things of that ilk. Going over your limit may be annoying to the card company, but if you only do it occasionally, and don't have anyproblems paying off the debt, then they might ask to see if your limit should be increased.
So my advice is to take it easy, yes the rep at Apple did cause you some anxious moments, but you're in a good position and should be in the clear when this is all settled.
Well yes apple did make a mistake, but this shouldn't affect your credit rating at all. First you stated you didn't go over your credit card limit, and second it sounds like you have every intention of paying off your balance before getting the computer. It also sounds like you will have the cash to pay off the computer on the 20th right?
This type of behavior will not ruin your credit rating. What ruins a credit rating is late or missed payments, bankruptcy, and things of that ilk. Going over your limit may be annoying to the card company, but if you only do it occasionally, and don't have anyproblems paying off the debt, then they might ask to see if your limit should be increased.
So my advice is to take it easy, yes the rep at Apple did cause you some anxious moments, but you're in a good position and should be in the clear when this is all settled.
You can add one more to the samll list. $2100AUD in cash for my computer, + $300 on RAM etc since.
1: That's more of the point, only spend money you have in your account.
2: I don't have a credit rating since I don't have a credit card, contract phone or car/house loan repayments. One day the time will come, but I'm staying away from the whole debt ring.
"Nothing makes you go into debt faster, than trying to keep up with people who already are." (I like that one)
Re: Re: Apple really messed up order and maybe my credit
Actually it does. Part of the credit score algorithms the agencies use includes a balance to limit ratio (percent) and if you are higher than 50% (usually) on revolving accounts (i.e. credit cards) it can have a negative impact on your score.
Example: $5000 limit, balance of say $2000. Add another $2000 and you balance to limit is 80%. Credit agencies don't like to see this on revolving accounts.
His ideal situation: $5000 limit, balance of $2000. Pay off Dec 19. Charge $2000 for computer Dec 20th...balance to limit never exceeded 40%. This is better and may be more like what Bonehead wanted...but blaming Apple is ridiculous.
HOWEVER, This by NO MEANS will not even come close to ruining your credit or credit score and if it was his intention to pay it off come January statement, then you are actually just as well off as before because you demonstrate your ability to pay a larger balance off in two payments and your balance is back to zero.
Bonehead, you just need to exercise restraint with purchases and learn more about how credit can work for you when it comes to buying a new car or home.
Actually it does. Part of the credit score algorithms the agencies use includes a balance to limit ratio (percent) and if you are higher than 50% (usually) on revolving accounts (i.e. credit cards) it can have a negative impact on your score.
Example: $5000 limit, balance of say $2000. Add another $2000 and you balance to limit is 80%. Credit agencies don't like to see this on revolving accounts.
His ideal situation: $5000 limit, balance of $2000. Pay off Dec 19. Charge $2000 for computer Dec 20th...balance to limit never exceeded 40%. This is better and may be more like what Bonehead wanted...but blaming Apple is ridiculous.
HOWEVER, This by NO MEANS will not even come close to ruining your credit or credit score and if it was his intention to pay it off come January statement, then you are actually just as well off as before because you demonstrate your ability to pay a larger balance off in two payments and your balance is back to zero.
Bonehead, you just need to exercise restraint with purchases and learn more about how credit can work for you when it comes to buying a new car or home.
Well, here's one thing I know about credit ratings: if you have a credit card that you charge a little bit to each month and then pay it in full each month, that looks really good on the credit report. Building good credit the smart way (not the way credit card companies tell you to) is a good idea if you ever plan on buying a house because then you can get really great loan rates. The other thing is that without any credit history, it's VERY hard to get a loan large enough to cover a house.
Long story short, getting a credit card is a good idea. Even if you cut it in two the instant it arrives in the mail, it's going to make it MUCH simpler to get a loan on a house someday.