Would you buy a expensive knife on credit?

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needler420

needler420

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I didn't know I had good credit about 770 and now after opening new accounts and making a claim it went from excellent to good at like 720. Not sure how this stuff works. I thought I had no credit or bad credit like 500. Apparently I was born with a 750.

I just started using credit this last Christmas for Christmas gifts. Debating If I should buy a expensive knife I been wanting. Anyone else buy expensive knives on credit? One I am looking at is $300.
 
4mer_FMF said:
^^^This.

If you’re going to pay it off at the end of the month, sure.
Don’t ever make interest payments on a knife.
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Couldn't agree more and this is definitely one I live by. I think I've only ever purchased a handful of over 150 plus blades on credit, but when I did do so I made sure it was paid off before that month rolled over.
 
needler420 said:
I didn't know I had good credit about 770 and now after opening new accounts and making a claim it went from excellent to good at like 720. Not sure how this stuff works. I thought I had no credit or bad credit like 500. Apparently I was born with a 750.

I just started using credit this last Christmas for Christmas gifts. Debating If I should buy a expensive knife I been wanting. Anyone else buy expensive knives on credit? One I am looking at is $300.
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Don't accumulate debt.

Use your credit card to buy everything you need to buy on a day to day basis to accumulate points/miles/cashback and pay it off completely every single month

Save the debt accumulation for buying a house.
 
needler420 said:
It's no interest if paid on in full in six months. and a 10k credit limit.
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needler420 said:
I didn't know I had good credit about 770 and now after opening new accounts and making a claim it went from excellent to good at like 720. Not sure how this stuff works. I thought I had no credit or bad credit like 500. Apparently I was born with a 750.

I just started using credit this last Christmas for Christmas gifts. Debating If I should buy a expensive knife I been wanting. Anyone else buy expensive knives on credit? One I am looking at is $300.
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How did you get a 770 before having any credit history? That's not how it usually works. Anyways on topic, never buy wants on credit. It's just a bad practice to get into. Somehow the payoff never happens before the interest kicks in. Imo credit is only for a house, car, and emergencies. Debt sucks, and a knife isn't worth going into debt.
 
I'm not sure how my credit got so high. Neither does my family. No accounts were previously opened. The first time I did a credit check I expected low and it was high.
 
As others have said, if used correctly credit cards make a great deal of financial sense.

In my household we purchase everything on credit but ensure the full balance is paid off for the monthly statement.

This ensures we reap the full benefits regarding cash back and air miles but never pay any interest.

For instance (and this is in the UK) my Santander card gives me 3% cash back on supermarket purchases, hence my weekly shop goes on that card. My AmEx card is great for airmiles (but not quite as good as 3% cashback) so fuel and house purchases go on that.

I have direct debits set up on each card for the full balance so never have to worry about remembering to pay them off.

My only debt is my house mortgage, despite paying for pretty much everything on credit.

You must research the cards and the rewards and ensure you’re fiscally responsible else you can easily get yourself into trouble.

Never buy a car on finance, you can always find a cheaper deal either using a low interest loan or credit card.
 
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My advice forget it's a "credit" card and treat it as a debit that you have to pay in full at the end of the month. You will be happier in the long run. And this way you can reap the rewards (literally and figuratively) that a credit card provides and keep the drawbacks in check.

There is always the instant gratification which is nice and knowing you can pay it off over time but life happens quite often and throws you extra unplanned bills just to screw with you.

Only once did I not pay in full off hand and that was when the pay in full auto pay failed to be work after being setup so I had to make a phone call and get them to take a late payment off my record, payed in full, and had them verify it was setup on the phone. So my advice from that verify it's setup before you let auto pay take over, one missed payment can be costly to a future home mortgage interest rate and your credit score if it's high.

Debt should ideally be just for a house, and emergencies if savings are depleted. Interest rates and the idea you can charge it to your card has led many people into a spiral of debt.
 
Hi needler . What i would say is if you can afford to pay off your credit card you can afford to save up . It's a good feeling when you have finally got the money for that big purchase and it's all yours . And a lot better than going down the slipery road of credit . It's so easy to get your self in a mess with them fatal words ( I want it so I will just put it on my card ) enjoy you knife collecting good things come to them that wait ;)
 
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