Need some financing advice for mac

[tkepongo]

My vaio is really bad now and i need a new laptop asap. I have a choice of either using my parent's credit card and paying approx. 75 a month or taking a student loan. I only make approx. $300 a month so...what would you guys do if you were in my shoes?

 

[kylep6190]

Look at how much interest each way will have and then calculate the final cost with interest added in and see whichever is cheaper.

 

[Maui]

A student loan is almost certainly to be cheaper than credit debt, unless it isn't a real student loan. Does your school have a credit union? Go talk to them about a personal property (non-credit card) loan in your own name, so you can start building your own credit.

 

[jarenado]

granted, you have to remember your parents are interest free, and if you have a tough month where you cant pay, they arent going to charge you fees, or try to repo your computer

 

[ab2650]

granted, you have to remember your parents are interest free, and if you have a tough month where you cant pay, they arent going to charge you fees, or try to repo your computer

Very true 😉 But it could put the OP in a bad position with his folks.

One thing that wasn't mentioned is when using his parents credit card, if they will pay off the balance in full and he will just pay them back, interest free.

If not, a loan will 9 times out of 10 have a better interest rate than a credit card. But 11 times out of 12 parents give the best rates of all. 😉