Would you buy a expensive knife on credit?

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I would if I don't have to pay interest and can pay the bill off before the interest kicks in. It is a simple decision.
 
Don't put anything on credit that you can't pay off in full when the statement is due. This way you build credit and earn rewards points without paying interest or late fees.
 
Yes, but it can be a dangerous habit to get into if you don't have financial responsibility and self control. You should at least have a plan to pay it off.
 
needler420 said:
Anyone else buy expensive knives on credit? One I am looking at is $300.
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After 4 pages, I think we can safely say that the general answer is «no», the exception being that you do it for reaping rewards of the CC, but you already have the cash for it
 
Old Biker said:
So for every $10,000 in mortgage interest paid he could save what? Maybe $2,500 in taxes? Pay $10,000 to get $2,500, that makes a lot of sense.:( Or since he has no mortgage he could pay $2,500 more taxes and keep the $7,500.:)

O.B
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No, could be a lot more than that, deductions can make a major implication in your total tax liability in ways like changing your nominal top bracket and with things like the AMT.

If you can afford a house in cash then great, it simplifies things. Not many people can afford to do that, most who can are a)independently wealthy b) moving from a high cost to low cost area (ie CA to TX) c) living in a dump.

I fall into none of those categories, have a mortgage, and went from what otherwise would have been a paying year to getting a significant refund thanks to my mortgage.
 
needler420 said:
It's no interest if paid on in full in six months. and a 10k credit limit.
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Brother, this hurts me to read.

I buy everything (possible) on credit cards but not on credit. I treat my credit card like a cash account. If I don't have money to buy it with cash, I don't buy it (excepting a house.... maybe larger expenses like vehicles). Understanding emergencies happen and the world isn't perfect, credit can and is an option at times, but please please take that step with great caution.

If you're debating buying a $300 knife on credit with money you don't have now, earnestly I would plead with you to not buy it. Work on savings, on investing for the future first and then have fun.
 
Credit card interest does not care if...

...you get sick.

...you get divorced.

...you get laid off.

...you are injured and can't work.

...your work hours are cut.

...your car breaks down and you can't make it to your job.

...your business is failing.

...it doubles the price of what you purchase.

Interest does not leave you alone. Interest does not go away. The only thing interest cares about is itself. The same holds true about the credit card companies. They really only care about when they are paid and how much money you pay them.

So, no. Buying a knife on credit is not the best idea.
 
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needler420 said:
I have already decided to pass on it. Better to be safe then sorry.
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Very wise decision. You should never go into debt for something you don't "need".
If you really "need" a knife for any reason whatsoever, guaranteed that any knife that you can afford to buy with the
cash you have will accomplish the purpose.
 
needler420 said:
I have already decided to pass on it. Better to be safe then sorry.
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Wise choice.

I might have missed it but, I did not see anything about what knife you were considering. What knife did you want?

I have learned that most of my knife desires are only temporary. If I still long for it after a year or two, then I start to pay attention.
 
needler420 said:
I have already decided to pass on it. Better to be safe then sorry.
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I hate to sound like an old guy and I don't know how old you are but I'm a big fan of budgets and sticking to them. My credit card (yes 1) is for emergency only (like car craps out on the highway). Everything else is cash/debit with a several month emergency fund.

Put some $ away each week or pay period and make a knife/toy fund. Don't buy anything unless the fund covers it. Have several things you want to buy? Make a priority list and buy what you can, we you can. Relying on no interest for x months and a big credit limits is how much of this country got into credit card debt.

/old guy rant over

Good luck!
 
Definitely no.
Find a way to save.
I have a “fun money” bag. I may buy a knife, ammo, or take my wife on a weekend getaway.
If you can’t save up for it, you probably can’t afford it.
 
Never buy anything purely on credit. If you cant afford it now, you likely cant afford it later. A couple of cars in high school taught me that the hard way.
 
sabre cat said:
Wise choice.

I might have missed it but, I did not see anything about what knife you were considering. What knife did you want?

I have learned that most of my knife desires are only temporary. If I still long for it after a year or two, then I start to pay attention.
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Benchmade 51. TI found one at the flea market for $9 that will last me.

I've been after a decent bali for years. When I finally got one I had to sell it shortly after losing a job.
 
RobertK said:
Brother, this hurts me to read.

I buy everything (possible) on credit cards but not on credit. I treat my credit card like a cash account. If I don't have money to buy it with cash, I don't buy it (excepting a house.... maybe larger expenses like vehicles). Understanding emergencies happen and the world isn't perfect, credit can and is an option at times, but please please take that step with great caution.
.
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My rule for over 50 years. If you can't pay it off when the bill comes, don't buy it UNLESS having it will earn back more than it's cost. If you buy a tool that you need to earn your living is different than buying a toy or a fancy car which has a value that plummets towards zero at a rapid pace. It is simple to live within your means, but it's not the way of our culture. Be content with the blessings that God has given.
 
Problem with credit card and knife collection is that sometimes knives such as Busse knives tends to pop out in the middle of no where when a lot of people aren't prepared and some folks just have to put it onto credit card and deal with paying it off later on when they're ready. One reason is because if they buy that knife later on, it's almost always at a mark up price because the value goes up over time.
 
You always use a credit card to buy a knife online. But it should be bought when one has the money to pay it off with the next bill.
 
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