I want a new pair of shoes, I was going to purchase some sneakers on my credit card, the interest in 0% till december 2007, my next bill isn't due till 11-4-07, I would have it paid off by November ecause I get paid twice, this month 12 and 26.
So would it be irresponsible to buy them on my card, since I don't have the cash now. I would sped on 80 on them.
2007-10-10 02:08:01 · 7 answers · asked by Anonymous in Business & Finance ➔ Credit
It's not the best way to do it but if you'll have the money and can pay off the credit card in November I don't see why not.
I've done it too and it was even for shoes.
2007-10-10 02:15:47 · answer #1 · answered by luckythirteen 6 · 0⤊ 0⤋
That depends.
It is not accurate to answer the question either way, because the real question is WILL you actually make the payment on time.
If you will make the payment, you are disciplined, then it is actually not a bad idea. In other words you have budgeted for them, and are taking advantage of having credit available.
If you might not make the payment, it is a very bad idea.
Finally, if you are just starting out, it might not be a bad idea to put them on credit, and actually pay them off in say $20 increments over 2 or 3 months. Again, this is only valid if you are disciplined. Doing this will eventually get your credit lines increased.
2007-10-10 09:27:17 · answer #2 · answered by STS1SS 4 · 0⤊ 0⤋
You're fine. This is a responsible use of credit. You need shoes. You have credit available and will pay it off when you get paid. That is the purpose of having cards.
People get into trouble when they do this for things like vacations, or meals. Those payments generally do not get made and balanced ac rue.
2007-10-10 09:36:25 · answer #3 · answered by Jay P 7 · 0⤊ 0⤋
0% interest til xyz is a con... most people never pay it off... then get charged for back interest...
that is why credit cards offer this... most of the time they will make money on the deal. You will forget to pay it or not have the money too, etc... and they make $$$.
2007-10-10 09:26:50 · answer #4 · answered by Anonymous · 0⤊ 0⤋
I say do it. If you can pay it off before the due date, this will boost your credit - even if it's just a little bit.
2007-10-10 11:22:30 · answer #5 · answered by Anonymous · 0⤊ 0⤋
As long as you pay it before the interest accrues, go for it.
2007-10-10 09:11:13 · answer #6 · answered by Harvick 29 Fan 4 · 0⤊ 0⤋
get the shoes,,pay before intrest free period runs out,,all good!!!!
2007-10-10 23:10:40 · answer #7 · answered by nickson faction 7 · 0⤊ 0⤋