I didn't miss the point ....
But I guess I just get a bit irritated by the "financially wiser than thou" mentality of the people who keep bragging that they buy everything with cash, and pat themselves on the backs for saving up for everything in full before buying.
I saw the same thing when T-Mobile started running the promotion to buy a device through them and make regular installment payments added on to your cellular bill, with 0% interest. People on MacRumors were whining about it! Why?! If you're going to buy a phone or tablet anyway and you're satisfied with the value proposition T-Mobile offers with their service plans - you may as well buy it through them and take advantage of the "no penalty" way to pay for it over time. Then your cash is freed up for other uses throughout the year.
Besides, I've made purchases with credit before where I had to pay interest. It made much more sense than not having the item for many months while I tried to save up for it in full, and not getting the benefit of using it for that entire time. (EG. First Mac Pro purchase I ever made, for a 2006 model. I actually took out a loan from Prosper.com on that one. Great decision, even though the loan had a high interest rate. I got it paid off in about 5-6 months, and was able to do a number of projects with the machine during that time that earned an income.)
But I guess I just get a bit irritated by the "financially wiser than thou" mentality of the people who keep bragging that they buy everything with cash, and pat themselves on the backs for saving up for everything in full before buying.
I saw the same thing when T-Mobile started running the promotion to buy a device through them and make regular installment payments added on to your cellular bill, with 0% interest. People on MacRumors were whining about it! Why?! If you're going to buy a phone or tablet anyway and you're satisfied with the value proposition T-Mobile offers with their service plans - you may as well buy it through them and take advantage of the "no penalty" way to pay for it over time. Then your cash is freed up for other uses throughout the year.
Besides, I've made purchases with credit before where I had to pay interest. It made much more sense than not having the item for many months while I tried to save up for it in full, and not getting the benefit of using it for that entire time. (EG. First Mac Pro purchase I ever made, for a 2006 model. I actually took out a loan from Prosper.com on that one. Great decision, even though the loan had a high interest rate. I got it paid off in about 5-6 months, and was able to do a number of projects with the machine during that time that earned an income.)
There's always exceptions to the rule, so way to miss the point of my post. Also you're lying to yourself if you think the vast majority of the population pays off their credit card each month or takes advantage of 0% interest offers. If that wasn't the case, the credit card companies wouldn't be making billions. More power to you and those that take advantage though.