Members bluesboy Posted September 3, 2006 Members Share Posted September 3, 2006 so what is the deal with this? Is it worth it, or is it a big pain in the arse? Basically, i want to buy a les paul standard, and i could afford way more than $23 a month, but i dont want to just drop $2200 or so at once. anybody make purchases this way? what are the drawbacks? Thanks, -me Link to comment Share on other sites More sharing options...
Members outkastin2g Posted September 3, 2006 Members Share Posted September 3, 2006 im not sure it is what you think it is. basically its a line of credit with MF, and you get approved up to a certain amount like you do with any credit card company. they send you a card with a number that you can use on their site. it also has uber interest if you dont pay it off within the promotional period that they give you. Link to comment Share on other sites More sharing options...
Members bluesboy Posted September 3, 2006 Author Members Share Posted September 3, 2006 Originally posted by outkastin2g im not sure it is what you think it is. basically its a line of credit with MF, and you get approved up to a certain amount like you do with any credit card company. they send you a card with a number that you can use on their site. i know that's what it is... just wondering who here has it, any bad experiences, etc Link to comment Share on other sites More sharing options...
Members outkastin2g Posted September 3, 2006 Members Share Posted September 3, 2006 well i got one.....its just like any other credit card. as good as a credit card can be i guess. Link to comment Share on other sites More sharing options...
Members ezweave Posted September 3, 2006 Members Share Posted September 3, 2006 You will never pay it off. That $23 amount is the minimum payment on the credit card. The card has some ludicrously high APR, like 23% or something. You get maybe, 12 months no interest. Then if you haven't paid it off in 12, they tack on the interest, which would be about $500 or so for one year. With an APR of 23% and payments of $23 a month, that would take you about 300 months or so to pay off. No joke -> Check it out. Link to comment Share on other sites More sharing options...
Members bluesboy Posted September 3, 2006 Author Members Share Posted September 3, 2006 Originally posted by outkastin2g well i got one.....its just like any other credit card. as good as a credit card can be i guess. thanks for your input... Link to comment Share on other sites More sharing options...
Members bluesboy Posted September 3, 2006 Author Members Share Posted September 3, 2006 Originally posted by ezweave You will never pay it off.That $23 amount is the minimum payment on the credit card. The card has some ludicrously high APR, like 23% or something. You get maybe, 12 months no interest. Then if you haven't paid it off in 12, they tack on the interest, which would be about $500 or so for one year. With an APR of 23% and payments of $23 a month, that would take you about 300 months or so to pay off.No joke -> Check it out. well, I already said I wouldnt pay $23 a month lol... thanks for your input too though Link to comment Share on other sites More sharing options...
Members ezweave Posted September 3, 2006 Members Share Posted September 3, 2006 Yeah, that's good. I'd rather pay cash, I still have school bills I'm paying off. So, yeah... I'm paranoid about debt. My philosophy is, unless you are going to die without it, save the cash and save the headache. Link to comment Share on other sites More sharing options...
Members tlbonehead Posted September 3, 2006 Members Share Posted September 3, 2006 Originally posted by bluesboy so what is the deal with this? Is it worth it, or is it a big pain in the arse?Basically, i want to buy a les paul standard, and i could afford way more than $23 a month, but i dont want to just drop $2200 or so at once.anybody make purchases this way? what are the drawbacks? Thanks, -me Not sure what you are looking for. The terms are clearly stated. It isn't like they are trying to hide anything or be dishonest about what they state. And they stick to what the terms are. They don't try to screww you over after the fact. Just read the terms andif you are ok with them. Link to comment Share on other sites More sharing options...
Members bluesboy Posted September 3, 2006 Author Members Share Posted September 3, 2006 Originally posted by tlbonehead Not sure what you are looking for. The terms are clearly stated. It isn't like they are trying to hide anything or be dishonest about what they state. And they stick to what the terms are. They don't try to screww you over after the fact. Just read the terms andif you are ok with them. i just wanted extra input... that is all Link to comment Share on other sites More sharing options...
Guest Posted September 3, 2006 Share Posted September 3, 2006 it's cool if you pay it off in time of course, a lot of people don't, and that's why they continue to offer it. Link to comment Share on other sites More sharing options...
Members bluesboy Posted September 3, 2006 Author Members Share Posted September 3, 2006 Originally posted by silvrcrank it's cool if you pay it off in time of course, a lot of people don't, and that's why they continue to offer it. yeah, i think its good because i would want to keep something like that off of my other credit cards, and paying one payment for one item is easier. I would figure out the payment so i would pay it off within the promotinal period. I've been jonesing for a les paul for so long... DAMN GAS! lol... Link to comment Share on other sites More sharing options...
Members Ryan Turner Posted September 3, 2006 Members Share Posted September 3, 2006 I have a GC card, which is pretty much like the MF card. Pretty good experience, for a credit card that is. The only thing I regret is not paying it off during the promotional period (you would think 15 months would be enough:rolleyes: ). If you do not pay it off in that period, the interest that was supposed to be accumulated during that period becomes retro-active and it added to your balance:eek:. But if you're responsible with your finances, you'll be fine. Link to comment Share on other sites More sharing options...
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