financing purchase

Discussion in 'Buying Tips and Advice' started by voguefashion334, Jul 10, 2011.

  1. voguefashion334 macrumors newbie

    Joined:
    Jun 19, 2011
    #1
    Im not sure if this is the right place to post this but here goes...
    I'm preparing to buy a new Macbook Pro next month. Although I have the money to fully cover the cost of the purchase, I would like to make my money work for me and get my first credit card for the purchase. Looking for a card with a good reward/airline miles, insurance/identity protection, and low interest. Is that asking too much from a first credit card? Any suggestions or sage advice?
     
  2. rockyroad55 macrumors 601

    rockyroad55

    Joined:
    Jul 14, 2010
    Location:
    Phila, PA
    #2
    The first two usually come standard with a good credit card. However, the last thing might not happen. Because it's your first card, they may give you a higher interest rate unless your credit history is excellent.
     
  3. rovitotv macrumors member

    Joined:
    Dec 17, 2009
    #3
  4. crazzyeddie macrumors 68030

    crazzyeddie

    Joined:
    Dec 7, 2002
    Location:
    Florida, USA
    #4
    I disagree with the sentiment that credit cards are evil. Any financial instrument can be considered evil if you abuse it. In general, you should never carry a balance on a credit card unless you have 0% interest and have the money in the bank to pay it off. Remember, any balance you have under 0% immediately accrues ALL the back interest if you don't pay it off before the teaser rate expires. Basically, unless you really know what you're doing, a credit card isn't a good way to "make your money work for you."

    I do, however, agree that airline cards are becoming less and less desirable unless you already travel very, very often. Do yourself a favor and get a cash-back card with no yearly fee. Visa, Mastercard and American Express all ofter them now. Just don't pay any yearly fees on a card. Never carry a balance. They will both eat you alive.
     
  5. CD4287 macrumors newbie

    Joined:
    Jul 11, 2011
    #5
    AmEx Blue or Zync. Interest rate on a credit card should never be a factor because you should never pay interest on a credit card. When you buy something with your credit card you should be able to go home immediately and pay it off online (but don't and pay your bill the day it is due, earn your interest on your checking account).
     

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