barclay card for macbook pro, please help!

Discussion in 'Buying Tips and Advice' started by garrett96, Nov 13, 2010.

  1. garrett96 macrumors newbie

    Joined:
    Nov 13, 2010
    #1
    Im thinking about using the BarclayCard to buy the macbook pro. But i was wondering if any of you know how much the payments every month would be. Have any of you ever used it? Im thinking about the 13 inch macbook pro and its 1,199.00. Can anyone help me?
     
  2. kyzen, Nov 13, 2010
    Last edited: Nov 13, 2010

    kyzen macrumors regular

    Joined:
    Feb 8, 2010
    Location:
    Colorado
    #2
    Depends on your interest. Assuming you get 0%, and want to pay it off in 12 months, then:

    ( $1199 + tax + shipping ) / 12

    Most people here, myself included, would advise against putting anything on credit if it's the only way you can afford something.

    EDIT: your scheduled minimum payments will NOT be 1/12th of the purchase price, but probably somewhere closer to $30-$50, so if you only make the minimum payments you will NOT pay the machine off in 12 months, and WILL end up accruing hefty interest. I believe the Barclay card is something like 22% - which is pretty dang high.
     
  3. r.j.s Moderator emeritus

    r.j.s

    Joined:
    Mar 7, 2007
    Location:
    Texas
    #3
    Definitely.

    If you are worried about making the minimum payment, you should wait and buy it when things are a little better.
     
  4. Cosmo M3 macrumors regular

    Cosmo M3

    Joined:
    Sep 4, 2010
    #4
    this is what's wrong with the economy

    don't buy anything you can't afford or live beyond your means

    coming from an accounting and finance specialist
     
  5. dangerfish macrumors 6502

    Joined:
    Aug 28, 2007
    #5
    There is nothing wrong with buying things on credit. In fact you need to do it so that you can build credit history. Otherwise you will never be able to buy a house or a car with a reasonable interest rate. The key is to be sensible about it. I sign up for these types of cards all the time to take advantage of the 0% financing. You should ALWAYS pay these accounts off within the allotted time. If you are even 1 day late, they will charge you full interest for the entire year and their interest rates are always sky high. If you cant afford to do that, then you should not even consider this as an option.
     
  6. weckart macrumors 68040

    Joined:
    Nov 7, 2004
    #6
    I think there is plenty wrong when a 14/15 year can get hold of a credit card.
     
  7. japasneezemonk macrumors 6502

    japasneezemonk

    Joined:
    Jun 13, 2005
    Location:
    Nomad
    #7
    I have to agree, buying gadgets on credit is a really bad idea. 2 years from now the computer will be obsolete in your eyes and you might barely be finished paying it off if you are only making minimum payments.

    Do you need a computer at this moment? Maybe it can wait until you save up enough to pay it off in cash. If your in school, whether it's High School or Uni, then I'm assuming things haven't changed that much in the past 10 years and you can still use the Computer Labs to get some work done as a temporary solution.
     
  8. kyzen macrumors regular

    Joined:
    Feb 8, 2010
    Location:
    Colorado
    #8
    Hah, paying off a $1200 purchase with *just* minimum payments would probably take closer to 15 years :)
     
  9. japasneezemonk macrumors 6502

    japasneezemonk

    Joined:
    Jun 13, 2005
    Location:
    Nomad
    #9
    Thats true. For some reason I assumed the payments would be in the $50-70 range. :)
     
  10. Hntjohns macrumors newbie

    Joined:
    Jun 23, 2010
    Location:
    Chattanooga, TN
    #10
    Don't do it

    Is your name Garrett96 because you were born in 1996? I know many people do this with their email/profile names.
    That would make you 14, unable to get a credit card, and if you somehow did get one, in the perfect position to to ruin your financial future.
     
  11. cz9h3d macrumors member

    Joined:
    Nov 10, 2009
    #11
    I just paid off my iMac 27" using a Barclay card. The draw was 0% for 12 months. I could have just bought the thing, but why not use someone else's money for a year instead?!?!

    Just don't be late or miss a payment!! If you're good at this, it's a great tool - if not, then you're going to screw yourself over with very high interest!
     

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