iMac Financing & Barclaycard

[Garvorious]

For a few months, I've been looking around the market for a new computer. I've been definitely eyeing the iMac for some time now (I am currently a PC user until I make the switch). I was kind of looking into the higher end models, but the extra price ranges on the 5k really didn't appeal to me, and I'm sure I'll live without that extra crisp.

Anyway, my final specs are as follows:

Of course, that follows with a pretty hefty price tag...

I've played with Macs before, and quite honestly, the OS itself really is something fresh to use compared with Windows 7/8/any previous Windows I've used. I'm sure I need to do a little more research before actually committing to this (i.e. will my games run fine, bootcamp, etc.)

~~~Main Question~~~

Regarding the Barclaycard financing option. There is an option that if I can pay off the entire balance by the promotional period, 18 months in this case, then I will not owe interest.

My only concern is that if I choose to open a card, I may not have a high enough limit to fund this purchase.

I currently have a credit limit (with my two cards combined) of about 3500.

Is there a way to see if I would have enough for financing, then proceed to open the card? Or is it basically a shot in the dark and I would have to request a higher limit manually?


If I am kind of missing a point of something, I'll appreciate any advice. I am in no rush to buy this yet.

Thanks again

 

[BGBUXA]

Barclays Card

Applying for credit is going to be a crapshoot. It is mostly going to depend on YOUR credit history and score. Check out http://ficoforums.myfico.com

This forum is super helpful with any type of inquiries on credit cards. You can search the barclays card in the forums and see what others have experienced.

I know you can apply and if the amount you are approved for isn't enough, you can call and request a Credit Limit Increase (CLI).

Ask the board, you will get a wealth of information.

 

[winston1236]

I have that exact model with more RAM, an awesome machine. If you're not in a rush just save up and pay cash, thats what I did.

 

[Garvorious]

I have that exact model with more RAM, an awesome machine. If you're not in a rush just save up and pay cash, thats what I did.

I might do that if I decide to go that direction.
Do you find the ram worth the extra $$? Or is 16gb good enough? I'll be playing games like League, Borderlands, as well as web surfing and work related iCloud business.

 

[topmounter]

I believe they ask you how much you're planning on spending during the application process.

Just be absolutely sure that you pay it off within the promo period and don't make any late payments or you'll get dinged for the full amount of interest ato date t some ridiculous rate (20-something or more %).

They also like to send nasty grams if you don't use the card for additional purchases, I ignored them and only used the account for the original iMac purchase. Of course they also automatically increase your credit limit trying to entice you into using the card (I shredded the card the day I received it just so I wouldn't be tempted to do something stupid).

I'd consider using it for future Apple hardware purchases, but as far as I can tell Barclay Card doesn't offer the deferred interest promo once the account is open. If I "need" something that I can't pay for within 30-days, then I would use my regular card which has a reasonable ~4% rate.


I stuck with the base RAM on my 27" iMac, ordered 16GB from Crucial and moved the 8GB that came in the iMac to upgrade my Mac Mini.

 

[DevinPitcher]

I'd consider using it for future Apple hardware purchases, but as far as I can tell Barclay Card doesn't offer the deferred interest promo once the account is open.

A simple call to Customer Service is all it takes. Tell them you wish to make a purchase and ask if you can get the current promotional financing offer. They'll apply it to your account before you make the purchase.

 

[Twinkie]

Is there a way to see if I would have enough for financing, then proceed to open the card? Or is it basically a shot in the dark and I would have to request a higher limit manually?

In a nutshell: No.

I've had the iTunes Rewards card since it came out, my credit is flawless, most of my credit limits are in five figures. I liked 18 months with no interest on my $2,800 MBP last year, and applied for the financing card.

I was approved for $2,000. Would they reconsider? No. Would they let me reallocate the credit limit from my other card? No. It was basically "take it or leave it".

So, I split the purchase across two cards, and paid down the financing card the following month so I wouldn't have it reporting as maxed out. By the third month, they bumped my credit limit to $6,500. A lot of good that did me at the time.

Barclays is really, really stingy when it comes to credit limits. And except for the very rare balance transfer offers (which are decent), there's virtually zero benefit to having the Financing card beyond the initial SAC offer. You're better off checking with a local credit union, and getting a low-interest card with a 0% introductory offer.

 

[Garvorious]

In a nutshell: No.

I've had the iTunes Rewards card since it came out, my credit is flawless, most of my credit limits are in five figures. I liked 18 months with no interest on my $2,800 MBP last year, and applied for the financing card.

I was approved for $2,000. Would they reconsider? No. Would they let me reallocate the credit limit from my other card? No. It was basically "take it or leave it".

So, I split the purchase across two cards, and paid down the financing card the following month so I wouldn't have it reporting as maxed out. By the third month, they bumped my credit limit to $6,500. A lot of good that did me at the time.

Barclays is really, really stingy when it comes to credit limits. And except for the very rare balance transfer offers (which are decent), there's virtually zero benefit to having the Financing card beyond the initial SAC offer. You're better off checking with a local credit union, and getting a low-interest card with a 0% introductory offer.

So what I should is build up some cash first, and try to accommodate paying online the approved Open To Buy? From your example of $2000, if I save up about $1100, I could still get that 18-month promotion while still getting the benefits of the card.

It's just a massive waiting game now

 

[Twinkie]

So what I should is build up some cash first, and try to accommodate paying online the approved Open To Buy? From your example of $2000, if I save up about $1100, I could still get that 18-month promotion while still getting the benefits of the card.

Keep in mind that they could give you a starting credit limit of $500. Getting either of the cards isn't terribly hard, because Barclay's is fairly lenient about letting you get your foot in the door -- but getting a substantial credit limit with them can take time.

If you look at this Credit Pulls database and just enter "apple", average credit scores typically mean a credit limit of $2,000 or less.

 

[banies23]

iMac Financing & Barclaycard

As much as I think this is a little unfair, to their credit, its in the agreement, put near the top and not buried in the microprint near the end.

 

[ggibson913]

I use it all the time for my mac purchases. Just make sure you pay it off prior to that 18 month mark or you will get nailed for the whole amount of interest of the purchase which can be quite high. The interest free period usually is dependent on the amount financed, I think for 18 Barclay generally requires $2000 or better financed, anything less will be 12 months.

I am wondering why you feel you need:

5K iMac - though if you want Fusion, the 5 K is worth the extra
16 GB Ram - you can upgrade at a later time on all 27's
3TB Fusion Drive - 1TB not enough?

Also, I may sugggest if money is an issue get a refurb. I never buy anything but. The guts are refurb, the casing is usually new, and the warranty is the same.

Hope this helps

 

[topmounter]

A simple call to Customer Service is all it takes. Tell them you wish to make a purchase and ask if you can get the current promotional financing offer. They'll apply it to your account before you make the purchase.

Aha, good to know. Thanks.

 

[winston1236]

I might do that if I decide to go that direction.
Do you find the ram worth the extra $$? Or is 16gb good enough? I'll be playing games like League, Borderlands, as well as web surfing and work related iCloud business.

You can upgrade the RAM in the 27 inch with aftermarket from OWC or Crucial for way less than what Apple charges. Get the lowest amount you can from Apple and max it out with the aftermarket.

The more the better with Yosemite, you'll use 5-6GB just sitting still so for games I'd do at least 24GB.

 

[Truefan31]

Don't finance a computer. Really. Just save up. If you have to finance it you shouldn't do it.

 

[DevinPitcher]

Don't finance a computer. Really. Just save up. If you have to finance it you shouldn't do it.

People have been telling me this, but the way I see it is if you can afford the payment, why not? I didn't have the $1,500 I needed for my rMBP, and I wasn't going to wait months to save for it when I needed it sooner, so if I could afford the $125/mn at 0% APR, what do you have to lose? Nothing I could see.

(This is assuming you are organized enough to make your payments on time. Even then, I was one day late once when I was in the hospital with a broken ankle. They didn't drop my promo financing, and I didn't even have to call and explain why it was late. Just made the payment and continued on with my life. Credit card companies aren't always as strict as people think.)

 

[Truefan31]

People have been telling me this, but the way I see it is if you can afford the payment, why not? I didn't have the $1,500 I needed for my rMBP, and I wasn't going to wait months to save for it when I needed it sooner, so if I could afford the $125/mn at 0% APR, what do you have to lose? Nothing I could see.

(This is assuming you are organized enough to make your payments on time. Even then, I was one day late once when I was in the hospital with a broken ankle. They didn't drop my promo financing, and I didn't even have to call and explain why it was late. Just made the payment and continued on with my life. Credit card companies aren't always as strict as people think.)

It's a basic finance 101. You're leveraging something based on future earnings, which can be unpredictable. You're also financing something that will depreciate by the time you've paid it off. Just like a car. Just save up and buy it outright if you really want it.

 

[Garvorious]

You can upgrade the RAM in the 27 inch with aftermarket from OWC or Crucial for way less than what Apple charges. Get the lowest amount you can from Apple and max it out with the aftermarket.

The more the better with Yosemite, you'll use 5-6GB just sitting still so for games I'd do at least 24GB.

Just saw how to upgrade the RAM and I wanna say thanks, this is something I'll keep in mind.

With new pricing, I should just go for Retina instead and snag the 32GB OWC option.

 

[winston1236]

Just saw how to upgrade the RAM and I wanna say thanks, this is something I'll keep in mind.

With new pricing, I should just go for Retina instead and snag the 32GB OWC option.

Happy to help, the RAM upgrade is so simple on these its great. BH has deals from time to time with free shipping + no tax, sometimes they even throw in AppleCare.