Members benjamin801 Posted April 6, 2012 Members Share Posted April 6, 2012 I always get a laugh out of the results of these threads. For a den of scum, people hate to admit to using credit cards to buy gear. It's about the as same number of people who will admit to having an ugly wife or girlfriend on here. Either everyone is so broke and has such poor credit they don't have credit cards or we're a bunch of finacial wizards. People are more likely to admit to using drugs on here than credit cards. I think this kind of poll is self-selecting, in that the people who do rack up a lot of gear on credit avoid the thread, knowing they're just going to get jumped on by a bunch of superior-acting people. I have no trouble admitting that I've had gear-on-credit problems in the past. But like I said, I went through a phase of several years after my divorce where I couldn't have gotten credit if I wanted, and now that my credit is a LITTLE better (I was actually able to finance a >$20k vehicle last year, thank god), it just doesn't occur to me to think about buying gear that way again. Link to comment Share on other sites More sharing options...
Members Ron Burgandy Posted April 6, 2012 Members Share Posted April 6, 2012 I always get a laugh out of the results of these threads. For a den of scum, people hate to admit to using credit cards to buy gear. It's about the as same number of people who will admit to having an ugly wife or girlfriend on here. Either everyone is so broke and has such poor credit they don't have credit cards or we're a bunch of finacial wizards. People are more likely to admit to using drugs on here than credit cards. I have 2 credit cards, and don't feel the need to use them for stuff I don't need. I used to be on top of the latest greatest offers and always using the intro offers or whatever for miles/points/cash back. The past few years I've been way too busy to keep up with that stuff, so pared down to 1 card for emergencies/places I don't want to use debit card and my corporate card. There for a while the rewards sucked anyway, so it wasn't worth dealing with. Now I have less stress. Link to comment Share on other sites More sharing options...
Members jimSG Posted April 6, 2012 Members Share Posted April 6, 2012 I always get a laugh out of the results of these threads. For a den of scum, people hate to admit to using credit cards to buy gear. It's about the as same number of people who will admit to having an ugly wife or girlfriend on here. Either everyone is so broke and has such poor credit they don't have credit cards or we're a bunch of finacial wizards. People are more likely to admit to using drugs on here than credit cards. I can't speak for anyone else but my post was 100% accurate. I use credit for almost every purchase even small amounts -- pretty much the same for my wife. We pay off all the cards every month. So that means we have to budget our expenditures to ensure we don't have a giant check to write at the end of each billing period. I hate, hate, hate paying interest. But I love the frequent shopper points and convenience of a CC. The only loan I have is for my house and I'm paying that off at an accelerated rate. I'm one of the older scumdenzians (mid-50s) but I'm now reaping some of the benefits of my frugal lifestyle 30 years ago. Link to comment Share on other sites More sharing options...
Members Mr. Brady Posted April 6, 2012 Members Share Posted April 6, 2012 I have 2 credit cards, and don't feel the need to use them for stuff I don't need. I used to be on top of the latest greatest offers and always using the intro offers or whatever for miles/points/cash back. The past few years I've been way too busy to keep up with that stuff, so pared down to 1 card for emergencies/places I don't want to use debit card and my corporate card. There for a while the rewards sucked anyway, so it wasn't worth dealing with. Now I have less stress.I use credit cards and don't feel that it's bad to as long as you are disciplined to pay off the balance every month. Which I do of course, since I'm perfect on the internet. Benjamin is right, most people self select out of these polls if they are having credit issues. I always wonder what the guys with no credit cards do for hotel reservations, rental cars, online shopping. Maybe they just don't do those things? How many times have I seen guys on here complain about being too broke to afford a $400 guitar or pedal, but when you see these polls, no one buys on credit, they have zero debt besides their 4000 sq ft house, and they would lead you to believe they have serious cash saved as well? Link to comment Share on other sites More sharing options...
Members Neilrocks25 Posted April 6, 2012 Members Share Posted April 6, 2012 I don't use my credit card for gear, but I have a small balance to clear due to moving abroad, but that will be gone soon and my savings far out-way my debt.This is also the reason I have a small combo and not a Marshall full stack I hate having any debt, but this one was a necessary evil Link to comment Share on other sites More sharing options...
Members madDdog67 Posted April 6, 2012 Members Share Posted April 6, 2012 Don't have credit cards, thank god. Best I can do these days is the easy payment plan via Sweetwater, Zzounds, etc. That's bad enough, I've got payments going out to about 4 different places each month now . Link to comment Share on other sites More sharing options...
Members Mr. Brady Posted April 6, 2012 Members Share Posted April 6, 2012 I don't use my credit card for gear, but I have a small balance to clear due to moving abroad, but that will be gone soon and my savings far out-way my debt. This is also the reason I have a small combo and not a Marshall full stack I hate having any debt, but this one was a necessary evil Why don't you use savings to pay off the CC if it far outweighs it, you're likely paying more interest for the CC than you're making in savings? Link to comment Share on other sites More sharing options...
Members guitarbilly74 Posted April 6, 2012 Members Share Posted April 6, 2012 My gear is really affordable so I don't need to use credit for it. I do have a credit card that I make small purchases on and pay it off every month just to keep a credit history going. I do use the 3 or 5 easy payments on AMS sometimes, because it's interest free. Link to comment Share on other sites More sharing options...
Members Neilrocks25 Posted April 6, 2012 Members Share Posted April 6, 2012 Why don't you use savings to pay off the CC if it far outweighs it, you're likely paying more interest for the CC than you're making in savings? because its in yen (savings) and costs to send the money to pounds, so I have something else paying of the debt (and the interest is at a fixed low rate) My pounds savings are there for an emergency as we run a business and I like to have it there, even if it means paying a little interest. Link to comment Share on other sites More sharing options...
Members NaturalBornBoy Posted April 6, 2012 Members Share Posted April 6, 2012 I never use credit cards for gear. Ever. It's stupid IMHO to pay interest for music gear. Buy it when you have the cash. Then again, I but the majority of my gear online from overseas so I have to use a credit card. Pay it off immediately though. No payment plans. Link to comment Share on other sites More sharing options...
Members Mr. Brady Posted April 6, 2012 Members Share Posted April 6, 2012 because its in yen (savings) and costs to send the money to pounds, so I have something else paying of the debt (and the interest is at a fixed low rate)My pounds savings are there for an emergency as we run a business and I like to have it there, even if it means paying a little interest. Ah, makes sense. I like having an emergency savings amount even if it means carrying a little debt here and there because you never know when the water heater will blow, the heat pump die, or the car will need repairs. Link to comment Share on other sites More sharing options...
Members Ron Burgandy Posted April 6, 2012 Members Share Posted April 6, 2012 I use credit cards and don't feel that it's bad to as long as you are disciplined to pay off the balance every month. Which I do of course, since I'm perfect on the internet. Benjamin is right, most people self select out of these polls if they are having credit issues. I always wonder what the guys with no credit cards do for hotel reservations, rental cars, online shopping. Maybe they just don't do those things? How many times have I seen guys on here complain about being too broke to afford a $400 guitar or pedal, but when you see these polls, no one buys on credit, they have zero debt besides their 4000 sq ft house, and they would lead you to believe they have serious cash saved as well? I don't care what others do. I used to be a finance nazi, but just don't care anymore. If it's what you feel is best, then who better to tell you how to use your finance options other than yourself? I don't have a 4k sq ft house, and I still make a car payment on my Volvo. I have too much gear as it is, but I do buy stuff when I feel I really want it as long as I have the cash available. I keep a separate bank account for gear purchases, which makes it a pain in the butt sometimes. My job lets me direct deposit in up to 4 accounts, so I section off a tiny percentage of take home to go to that account. If there's money in there, and I want something then I buy it. I guess if I didn't have an amp or something and was playing out more, then I may consider putting an amp on a credit card. A cheap one, but anyway...The poll didn't ask if we were financial wizards or anything. It asked if we use credit to buy gear. I don't, so I responded as such. You do, and that's also cool. Link to comment Share on other sites More sharing options...
Members paul88lx Posted April 6, 2012 Members Share Posted April 6, 2012 I am currently using my Sweetwater card to purchase some smaller stuff. But only when it's on sale with 0%interest with 12 or 18 month financing. I'll carry a couple hundred dollar balance and pay it off over the course of a few months. It's a easy and safe way for me to build and maintain a good credit score. Along with getting fun toys in the mail. Link to comment Share on other sites More sharing options...
Members Mr. Brady Posted April 6, 2012 Members Share Posted April 6, 2012 Yeah, i'm not getting on anyone for what they do, i'm just commenting on how these polls are rarely accurate or honest. Link to comment Share on other sites More sharing options...
Members Bumhucker Posted April 6, 2012 Members Share Posted April 6, 2012 I have bought guitars with credit, but I pay my CC balance in full every month. I'm not a fan of spending what I don't have. Link to comment Share on other sites More sharing options...
Members Erock503 Posted April 6, 2012 Members Share Posted April 6, 2012 I was going to say I never use credit, but forgot about the Sweetwater Charvels I've been snapping up on easy-pay, lol. No credit application and no interest, but they must still check your credit rating. I won't go as far as getting their card. I got into credit trouble in my 20's. Had a great job in NYC where I made some real decent cash, and it was easy to just to use my card for everything. I would pay it off every month, and it was building me a very good credit score. I moved to Missouri because my then girlfriend got into a program there. Much lower paying job + same expensive tastes + no fear of using card + tons of built up credit = disaster. I got to a point where I wasn't even covering the interest charged each month. It took me years and years of debt management before I paid everything off. I have one now for emergencies, and I can't help but get a feeling of disgust when I see it in my wallet. Link to comment Share on other sites More sharing options...
Members Orbis_Mortis Posted April 6, 2012 Members Share Posted April 6, 2012 I usually never use credit for my gear habit, but I did on my last couple of purchases. Only because my PayPal funds were in eBay limbo. I will pay it off within the 6 month no interest period though. Link to comment Share on other sites More sharing options...
Members Johnny'sGotTheBlues Posted April 6, 2012 Members Share Posted April 6, 2012 I never pay interest. I order things online with a credit card, but I pay off my credit card balance each month without accruing interest. Yup^ Link to comment Share on other sites More sharing options...
Members ~Abstract~ Posted April 6, 2012 Members Share Posted April 6, 2012 I have to build up credit with my wife so she'll let me buy guitars and amps. After that I use my credit card for ease of purchase and (what I like to call) comprehensive risk avoidance...if something shows up wrong or broken, the CC offers better protection than I would otherwise receive if I sent cash. I also pay off all balances monthly before interest is accrued. Link to comment Share on other sites More sharing options...
Members pioneerprogress Posted April 6, 2012 Members Share Posted April 6, 2012 yeah these threads are funny. we are all perfect, successful, fully-independent fiscal gurus with tons of disposable income for gear as young adults and middle aged people clearly all do these days. oh yeah and we all bang models. on the srs, i just had my friend move in to my house. didnt have a roomie for a bit but he is just moving back to the mitten from FL. the rent will be nice though. Let me help you with this perception then I am not all that great with money. I tend to spend emotionally instead of rationally. I haven't updated my budget in about 3 years (and I've had a kid and my wife quit working since then!) I still find myself fighting off the urge to be a week late on a bill so I can buy some toy that I want.But all of this is why I've NEVER had, nor will I ever get, a credit card. I don't know that I would exercise proper restraint with it. Link to comment Share on other sites More sharing options...
Members guitarbilly74 Posted April 6, 2012 Members Share Posted April 6, 2012 I always get a laugh out of the results of these threads. For a den of scum, people hate to admit to using credit cards to buy gear. It's about the as same number of people who will admit to having an ugly wife or girlfriend on here. Either everyone is so broke and has such poor credit they don't have credit cards or we're a bunch of finacial wizards. People are more likely to admit to using drugs on here than credit cards. Well, we're not discussing complex financial plans here. I think the concept of "don't buy it if you cannot afford it" is pretty basic and it doesn't take a financial wizard to understand that. I would expect most adults to be able to follow that basic principle. Link to comment Share on other sites More sharing options...
Members Mr. Brady Posted April 6, 2012 Members Share Posted April 6, 2012 Well, we're not discussing complex financial plans here. I think the concept of "don't buy it if you cannot afford it" is pretty basic and it doesn't take a financial wizard to understand that. I would expect most adults to be able to follow that basic principle. I would too, but studies and credit card debt statistics across the country prove otherwise. Do you think HCAF, a place where we come and get GAS, is any different than the national average? Link to comment Share on other sites More sharing options...
Members pioneerprogress Posted April 6, 2012 Members Share Posted April 6, 2012 I would too, but studies and credit card debt statistics across the country prove otherwise. Do you think HCAF, a place where we come and get GAS, is any different than the national average? I wouldn't have expected so. But then I see the average person's ability (or lack thereof) to complete simple operations on the computer, and I'm starting to believe that perhaps we dedicated forumites are actually the elite Link to comment Share on other sites More sharing options...
Members guitarbilly74 Posted April 6, 2012 Members Share Posted April 6, 2012 I would too, but studies and credit card debt statistics across the country prove otherwise. Do you think HCAF, a place where we come and get GAS, is any different than the national average? I don't know, I am not aware what the national average is, never looked into it I normally don't ask my friends if they are in debt either, so I don't know much about it. My gear is cheap though, it's worth less than $2k total, so it wasn't hard to pay for it with cash. I do have GAS but I trade gear a lot more than I buy. Link to comment Share on other sites More sharing options...
Members benjamin801 Posted April 6, 2012 Members Share Posted April 6, 2012 Let me help you with this perception then Yeah, let me help with the perception as well! I don't buy instruments with credit cards because I can't. I have one lone credit card, it has a big fat $750 limit (so it's not as though I could throw a big gear purchase on there anyway), and I use it exclusively for commuting expenses (monthly rail pass, the occasional tank of gas, etc.). I don't pay it completely down each month, choosing instead to maintain a modest balance on it while establishing a good payment history. I need to rebuild my credit if I'm ever going to buy a house, and that credit card and the 2008 Honda Pilot I bought last year are my tickets to doing it. So, yeah, I don't buy gear on credit, but it's not because I'm a financial wizard - quite the opposite, in fact. Link to comment Share on other sites More sharing options...
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