Pay in full or use credit card?

[Onequik135i]

Only CC I use is if my local ad offers 0%, I did that w my sub couple of years back & just recently w the new snoopy.

[taitun4life]

Originally Posted by BumbleB

My opinion: If you can’t pay in full don’t buy it. It’s a luxury product, not a necessity.

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+1 but I put it on the credit card for the points and then pay off. No interest and I get the points accrued.

[Kevin of Larchmont]

Always card, always cash back or points or miles, always pay off before billing cycle ends, never carry a balance. Rinse and repeat.

[zakattack62]

My AD no longer allows credit card transaction. Because of demand, you have to e-transfer deposit and then come with bank draft in hand. Never used to be this way prior to the crazy demand/shortage of Rolex watches.

[Krash]

Originally Posted by R35GTR

All these folks talking about pay it in full with cash must not know the value of credit card points. That being said, some brands require bank wire (ie AP, for out of state anyway) but my Rolex AD always has taken CC.

I agree. It’s like not understanding the importance of brushing your teeth. It’s literally free money, plus you can still payoff your credit card anyway.

Of course, if you’re going to keep the balance on your credit card, then in that case, they are not wrong.


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[Corvette]

Originally Posted by zakattack62

My AD no longer allows credit card transaction. Because of demand, you have to e-transfer deposit and then come with bank draft in hand. Never used to be this way prior to the crazy demand/shortage of Rolex watches.

Just for Rolex watches or for any jewelry?? That’s crazy…I’d vote with my wallet and find a new AD.

[forosfulldan]

Impossible to pay in cash in Spain (Europe) it is forbidden to pay more than 1000€ in cash. Our tax office is the worst in the whole world....

Enviado desde mi SM-N970F mediante Tapatalk

[Beo3]

I purchase everything (including watches) on my CC and pay the balance off the next day.

My CC offers 1.5 % back on all purchases. Why not take advantage of free money?

I have been noticing lately that many merchants are charging a fee for credit card transactions. If that is their policy I will then pay with cash.

[GoingPlaces]

most people use cc's, it's foolish not to use for cash back or points.

[Corvette]

Originally Posted by Beo3

I purchase everything (including watches) on my CC and pay the balance off the next day.

My CC offers 1.5 % back on all purchases. Why not take advantage of free money?

I have been noticing lately that many merchants are charging a fee for credit card transactions. If that is their policy I will then pay with cash.

You may want to wait until the end of your statement period to pay off your card, that was the reporting agencies see a large sum of money charged and promptly paid which will help your credit score. Paying off the next day is like nothing was ever charged on it from a credit reporting standpoint. Just trying to help out.

[Brich436]

I show up with cash.

Helps the AD avoid the fees charged by the CC companies. Plus its fun to spread out all the Ben Franklins on the table and see exactly what you are trading the watch for!

If I was getting a PM piece or something way over the top I would send them a bank wire - clears immediately.

[GoGetter5832]

What am I missing here in regards to not paying tax if shipped out of state? I thought that only applied if shipped to the 5 states that don’t collect sales tax? Every Rolex I’ve purchased from my AD has been shipped to me (he’s in PA & I’m in KY) I’ve paid tax on. How are people avoiding paying tax if items are shipped to states who collect sales tax?

[Corvette]

Originally Posted by GoGetter5832

What am I missing here in regards to not paying tax if shipped out of state? I thought that only applied if shipped to the 5 states that don’t collect sales tax? Every Rolex I’ve purchased from my AD has been shipped to me (he’s in PA & I’m in KY) I’ve paid tax on. How are people avoiding paying tax if items are shipped to states who collect sales tax?

You're "technically" suppose to pay USE tax once you receive the goods back in your home state however....I'm willing to bet 99.99% of all consumers conveniently ignore this question on their tax form.

[GoGetter5832]

I guess my my other question then would be do some AD’s not charge tax if they ship out of state? Mine has always hit me with tax lol

[garyk]

Originally Posted by Chester01

I pay credit card, get the points and then pay it off when the bill comes in. All points and no interest. Unless they are giving some discount which is unlikely.

Ditto

[INC]

I think, the original question is misguiding.

To pay with a card even with debit or a credit card are the same, IF you have the full amount on your accounts. In this case the only difference is, that it will not happen in the same time. However with a CC your can do your purchasing with a zero interest rate credit method, which means, that you will not have a debt, but an opportunity to pay later.

On the other hand, it's also correct that to purchase a luxury item for such a huge interest rate could be a nightmare IF you haven't got the funds. However as always, there could be exceptions from this rule too: IF you have to use your credit balance only for some days or weeks. So in a case like this, when you face that can get your dream then it would worth to use your CC. Mostly if you have a chance to get a rare Rolex :)

[Chipit7777]

At 0% it is a no brainer. Use someone else's money. Pay when you like. Advice from the cheap seats

[Calatrava r]

Seems like more and more merchants are now adding about 3% for CC use, so it may make sense to pay cash through a wire transfer or something similar now to avoid that transaction fee. The cardholder now has to judge the value of the points earned or cash back versus the 3% added.

[DAGMoney]

All thing being equal, I use a credit card every time - then pay it off in full when that first bill comes. CC points, miles, cash rewards, etc. all help to effectively reduce the price of the watch.

An exception would be if the AD offered a reduced price for cash payment - 3% or more would move me that way.

[Corvette]

Originally Posted by Calatrava r

Seems like more and more merchants are now adding about 3% for CC use, so it may make sense to pay cash through a wire transfer or something similar now to avoid that transaction fee. The cardholder now has to judge the value of the points earned or cash back versus the 3% added.

or just take your business elsewhere...

I've started not going to merchants who charge me a fee to use a credit card.

[Corvette]

Originally Posted by GoGetter5832

I guess my my other question then would be do some AD’s not charge tax if they ship out of state? Mine has always hit me with tax lol

I guess I've never run into this issue. I bought a Submariner in Omaha, NE a few years ago, had it shipped back to my home in Iowa, and the dealer never charged me sales tax. I can't imagine why a dealer would charge tax if they are shipping out of state unless rules differ between certain states that require it?

[BroncoOne]

Originally Posted by Chester01

I pay credit card, get the points and then pay it off when the bill comes in. All points and no interest. Unless they are giving some discount which is unlikely.

This.

You are both paying in full and using a credit card. Interest free loan for 30 days. Be sure to pay off the card in full when the bill comes

[BroncoOne]

Originally Posted by Corvette

or just take your business elsewhere...

I've started not going to merchants who charge me a fee to use a credit card.

You are paying the credit card fees no matter what. Merchants just raise their prices to maintain their margin because most customers use credit cards, debit, Apple Pay etc.

Or those that pass on the cc fees are being transparent about the real price and give you the choice of paying cash.

[BroncoOne]

Originally Posted by Corvette

I guess I've never run into this issue. I bought a Submariner in Omaha, NE a few years ago, had it shipped back to my home in Iowa, and the dealer never charged me sales tax. I can't imagine why a dealer would charge tax if they are shipping out of state unless rules differ between certain states that require it?

It is the buyer’s responsibility to pay their home state a use tax on the transaction in most cases.

There was a lot of controversy about this (I won’t bore you with the legal theories about having or not having sufficient nexus in a particular state) several years back when people were buying expensive items online and having them shipped across state lines and not paying sales tax. Amazon and other large scale online retailers eventually agreed to collect the sales tax in those states.

Watch dealers are still under the radar, as are most othersmallermerchants(think flat screen TVs etc)

[Corvette]

Originally Posted by BroncoOne

You are paying the credit card fees no matter what. Merchants just raise their prices to maintain their margin because most customers use credit cards, debit, Apple Pay etc.

Or those that pass on the cc fees are being transparent about the real price and give you the choice of paying cash.

I would disagree...I see it as merchants penalizing credit card customers. I'd much rather a merchant raise the price to whatever level they find acceptable and take any form of payment than have certain rules for different payments. I can understand at a small-margin mom and pop cafe or store but for a jewelry store that already has enormous markup? Give me a break.

[mulberry083]

Originally Posted by Chester01

I pay credit card, get the points and then pay it off when the bill comes in. All points and no interest. Unless they are giving some discount which is unlikely.

This is the way


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[creepy neville]

Originally Posted by DAGMoney

All thing being equal, I use a credit card every time - then pay it off in full when that first bill comes. CC points, miles, cash rewards, etc. all help to effectively reduce the price of the watch.

An exception would be if the AD offered a reduced price for cash payment - 3% or more would move me that way.

This ^^^^

I don’t deal with ANY merchant that adds points to cover their CC charge.

[Beo3]

Originally Posted by Corvette

You may want to wait until the end of your statement period to pay off your card, that was the reporting agencies see a large sum of money charged and promptly paid which will help your credit score. Paying off the next day is like nothing was ever charged on it from a credit reporting standpoint. Just trying to help out.

Thank you for the advice.

Thankfully my wife and I are at a point in our lives where my credit report doesn't matter. We carry no debt, and our credit scores are both over 825. I have no plans on buying anything (excluding cars) that require financing from a lending source.

Ten years ago, our lives were much different financally where groceries HAD to be put on a credit card because we didn't have the cash available.

[Onequik135i]

Congrats on your recent lifestyle turn around Beo3 & Happy Easter to everyone on here too.

[Booth9999]

Originally Posted by Chester01

I pay credit card, get the points and then pay it off when the bill comes in. All points and no interest. Unless they are giving some discount which is unlikely.

This is the best way, you get a little extra back.