As low as $59/month...Your views on Apple Financing?

Discussion in 'Buying Tips and Advice' started by Hatchet, Dec 10, 2007.

  1. Hatchet macrumors regular

    Joined:
    Dec 9, 2007
    Location:
    Baton Rouge
    #1
    I was wondering if anyone here has experience with Apple Financing?

    I did it once with Dell and let me tell you it was a nightmare...I think my rate was 22% or something ridiculous (This however, was my credit building opp since I was alot younger with no credit history) Now my credit is perfect and reliable...

    Yay or Nay?
     
  2. Blue Velvet Moderator emeritus

    Joined:
    Jul 4, 2004
    #2
    If your credit is perfect and reliable, then you can probably find better rates and deals by using other finance products.

    My MBP (almost paid off). I managed to get a 0% rate on by shifting the debt onto a balance transfer card that had a great deal. Mind you, this was before the entire credit market went haywire a few months ago.

    Store/retail credit is usually the most onerous, and maybe not in Apple's case, but many retailers will bug you unmercifully to take on useless product insurance as well, a scam if there ever was one.
     
  3. Hatchet thread starter macrumors regular

    Joined:
    Dec 9, 2007
    Location:
    Baton Rouge
    #3
    Yeah, that is true.

    However, I liked the idea of getting those iTune rewards points. I can see how they would give me a crappy rate though for that perk.

    I guess there's no problem with seeing what they'll give me if I apply.
     
  4. motomac macrumors member

    Joined:
    Oct 19, 2007
    #4
    I don't think its actually "Apples" financing. They just offer a Juniper Visa card with XX.X% interest. The Juniper bank is the one providing the financing, Not Apple.

    You would have MUCH better luck with getting a seperate credit card with a real zero percent 12 month interductory rate with a realistic fixed APR after the zero term is up. Doing so would would save some dough.
     
  5. godslabrat macrumors 6502

    Joined:
    Aug 19, 2007
    #5
    I did that when I bought my Mini a few months back. Getting three months to pay off $600 seemed nice. Honestly, I could have paid off the whole thing right away, but it was nice to use the flexibility of the payment plan. I paid it all off on time, so it worked out really well for me.

    I don't know if I'll make much use of the Juniper card in the future, though. 90 days no interest is nice for a $300 iPod or a $600 Mini, but if I'm ever buying something in the four-digit range, I'm going to want more time to pay it off. I asked the store rep about longer financing, and was told that Juniper runs everything, so what's offered is all there is.

    Needless to say, when I get around to buying a Mac Pro, I'm going to seek out other options.
     
  6. heatmiser macrumors 68020

    Joined:
    Dec 6, 2007
    #6
    I wouldn't recommend it. The fewer cards you juggle, the better. If you can't afford something without filling out a new application, that's never a good sign. I'd save up for a little longer until it was possible to buy it without a new card.
     
  7. sk8ordie macrumors regular

    sk8ordie

    Joined:
    Nov 16, 2007
    Location:
    California
    #7
    Like posted above, there are many 0% credit cards available.
     
  8. Willis macrumors 68020

    Willis

    Joined:
    Apr 23, 2006
    Location:
    What feels like the middle of nowhere
    #8
    At the moment, well in the UK at least, they have an Xmas offer on thats 6 months interest free when you buy a new Mac. Our financial service is done by MBNA which usually has 15% or so which is about avg. for us.

    Its always best to look around for interest free credit cards. Always best to have at least 1/3 or more of the actual cost on hand to put towards the payments, makes life that little bit easier
     
  9. je1ani macrumors 6502

    Joined:
    Sep 19, 2007
    #9
    I'm 19 and so I don't think I would get approved but anyways I will never use multiple sources of credit... I have 1 AMEX card with a VERY generous line which I use 90% of the time but I believe if you don't have the money you shouldn't be spending it...
     
  10. jnc macrumors 68020

    jnc

    Joined:
    Jan 7, 2007
    Location:
    Nunya, Business TX
    #10
    Yes, but look at the cut off date of the interest free offer... January 14th 2008.

    Apple are EVIL.

    I think I'll sign up for a credit card that offers cashback and 0% on purchases, buy whatever post-Macworld with that, then immediately clear it using my student account with 0% overdraft while getting a kickback through the CC's cashback reward... then worry about it in 2 years :D
     
  11. GSMiller macrumors 68000

    GSMiller

    Joined:
    Dec 2, 2006
    Location:
    Kentucky
    #11
    Dell financing is HORRIBLE! My mom had an account with them, the interest rate was about 29% and by the time it was paid off a funky little Dell DJ ended up costing about $500 which ironically tore up the month after the account was paid off, but Apple wouldn't even give her credit.
     
  12. paul.b.davis macrumors 6502

    paul.b.davis

    Joined:
    Oct 24, 2007
    Location:
    Over the hills and far away...
    #12
    I managed to get a card w/ a $3,000 limit and 0% for a year on purchases, so I got a new MBP.

    I say just keep a look out for CC offers in the mail and find one that suits your needs
     
  13. GSMiller macrumors 68000

    GSMiller

    Joined:
    Dec 2, 2006
    Location:
    Kentucky
    #13
    Which AMEX card did you sign up for?! I'm 19 and have had great credit for almost 2 years and couldn't even get a Discover.
     
  14. brop52 macrumors 68000

    brop52

    Joined:
    Feb 26, 2007
    Location:
    Michigan
    #14
    You should have more than one credit card. You need a VISA. You can't use AMEX everywhere. If you are a student you can easily get a card. It's likely you can get a card with almost any company. They will just start you with a low credit limit. If you have been paying off the AMEX card on time every month then it won't be a problem.
     
  15. je1ani macrumors 6502

    Joined:
    Sep 19, 2007
    #15
    I have an AMEX Blue. Which I just got around 4 months ago... Originally I had a $400 Prepaid VISA card.. I guess that built my credit? It's a "Secure VISA." Which I never use anymore... Anyways I know i could get more lines of credit being a student but I just don't need it. I'm not too considered with my credit because i'd rather save up for something. You should check out the movie "MAXXED OUT." It weaned me off credit lol
     
  16. japasneezemonk macrumors 6502

    japasneezemonk

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    Location:
    Nomad
    #16
    My rule is never to buy electronics with credit. Always cash, or just all at once. Might not work out for everyone, but i like knowing my outdated hardware is paid for.
     
  17. mchank macrumors regular

    Joined:
    Feb 26, 2006
    #17
    I also prefer paying off the whole amount at once, butI also always buy my electronics with American Express and then pay off the whole balance; they double the manufacturer's warranty automatically so that's free insurance right there.
     
  18. wwooden macrumors 68000

    wwooden

    Joined:
    Jul 26, 2004
    Location:
    Burlington, VT
    #18
    I always buy everything with a credit card, then pay it off that month. It builds good credit and I can get rewards as well. With Discover, if you buy through the Discover website into Apple.com, they give you 5% back. There are tons of other stores as well, worth a look.
     
  19. odinsride macrumors 65816

    odinsride

    Joined:
    Apr 11, 2007
    #19
    I only use financing on major purchases like houses, cars, and tuition. The insane interest is just not worth it for smaller purchases.
     
  20. Squonk macrumors 65816

    Squonk

    Joined:
    Mar 15, 2005
    #20
    5% is a nice rebate! I'll have to look into that for my MBP in Jan. I just hope that Disc does not have an annual fee. Otherwise I say no thanks! My current card has 1% back with no annual fee. Not great, but it ads up. And I pay it off each month. If I can't afford it, I won't buy it....unless its a really good deal :p
     
  21. trule macrumors 6502

    Joined:
    Mar 16, 2007
    #21
  22. notjustjay macrumors 603

    notjustjay

    Joined:
    Sep 19, 2003
    Location:
    Canada, eh?
    #22
    Just be careful you read the fine print on those special offers.

    My sad story: Apple offered 180-days-interest-free financing. The rev B 12" PB was just announced. I wanted one, but couldn't afford to pay it all off right away, and saw 6 months interest free as the ideal way to spread the payments out.

    At the time, Apple also had a special offer: Final Cut Express just $149 with the purchase of a Mac.

    So I bought a BTO 12" PB, and FCE, for a total of close to $3100 Cdn, on my new credit account.

    The FCE box shipped first. The PowerBook shipped a few weeks later.

    And that's when I learned that the "interest free financing" applied only to the FIRST item charged to the credit account.

    Yes, I had 6 months of interest free payments on $150, and I paid 22% interest on the other $2800.

    That, in combination with some poor financial planning and some payroll glitches at school, threw me into a cycle of carrying credit card debt that took me 3 years to fully recover from.

    So... read carefully!
     
  23. je1ani macrumors 6502

    Joined:
    Sep 19, 2007
    #23
    Aww that sucks :(
     
  24. sk8ordie macrumors regular

    sk8ordie

    Joined:
    Nov 16, 2007
    Location:
    California
    #24

    Hehe, well they dont make money off me, I only use 0% cards ;)


    They make money off people who dont know how (or dont care) to manage thier finances.
     
  25. je1ani macrumors 6502

    Joined:
    Sep 19, 2007
    #25
    The merchant pays the credit card company something like $.10 per transaction. I know American Express costs more than others to accept.
     

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