Pay in full or use credit card?

[Spoonage]

Use card, get points, pay off in full.

[inadeje]

Originally Posted by makebread

Hi all,

Just curious: how many of you pay for a new watch at an AD in full (cash or card), and how many put it on a credit card?

I've always paid in full. Trying to see the benefits of the latter.

Do some prefer to stagger the payment rather than take such a big hit/tie up a large sum in one go?

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OP the only reason I use credit cards is because of the free miles, points or other benefits most credit cards offer holders. On one of my cards the price of a Rolex gets me a one way first class flight ticket on a 2-3h short haul flight. I pay off my card’s monthly, so I don’t use the credit facility.

[TheVision]

Have a business Chase CC and use that ....get plethora of points and cashback. Not only that, paying it off before the bill cycle hits is another excellent way of boosting your credit score. I had a short sale on a house during last market crash and it took me 5 years of taking my score back to the 8xx range.

[Steverin06]

I don't think paying a luxury bill on credit is something one should consider; however, picking up a watch from an AD is not reckless since you can always flip it to get your money back.

[jaychief]

Pay on 0% credit card....

[cotignola]

I had the heck of a time paying with my Apple Card and Citi Bank card when I was in Vegas last year. I called each company & warned of the transaction, location, etc. Tried 3 times with each, 3 different days and they declined the transaction. I almost came home empty handed.

The AD was very accommodating and the situation was pretty embarrassing. I finally managed to get my Explorer with my debit card.



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[huncho]

Originally Posted by cotignola

I had the heck of a time paying with my Apple Card and Citi Bank card when I was in Vegas last year. I called each company & warned of the transaction, location, etc. Tried 3 times with each, 3 different days and they declined the transaction. I almost came home empty handed.

The AD was very accommodating and the situation was pretty embarrassing. I finally managed to get my Explorer with my debit card.



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citi bank didn't even let me swipe more than 5k on my debit card even while i was on the phone with them

[doboy007]

CC then pay in full.

[SS Oyster]

Normally card, but I’ve paid in cash as well.


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[Goose 104]

Pay on credit card for the points/cashback then pay off in full

[Zeli_papa]

I don't know about the US but here in the UK I was told by Rolex that they could only take 2k in physical cash, rest had to be paid by debit/credit card

[VerticalClutch]

Always use a card if I can. One of the AD’s I buy from require you to wire funds so they don’t pay the credit card fees. They’ll let you write a check if they know you well.

[KMalone]

I use a CC with 0% for 15-18 months and pay it off right at the end. I'm a CC points sl*t!

[Calatrava r]

Originally Posted by creepy neville

This ^^^^

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

Are you saying you would pass on a SS Daytona or Pepsi at retail from an AD over a three percent fee to use a credit card?

[dk65]

AD here won't take cash or check. Card or wire only. Too much risk with cash, and it costs them a significant bank fee to deposit that much cash.

[GGGMT]

Layaway.


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[Mrhenish]

Originally Posted by 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....

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Shakira agrees with you…

[Oystersteel92]

When it's an expensive piece I'm like Mad Max being disarmed at the gates of Bartertown. I'm pulling cash and credit cards out of every pocket and laying them on the counter. $10k on this one, $20k on this one, etc. That's how it's done son!

My highest limit card is also the one I put all my monthly expenses on, so it always has a balance of some sort, even though I pay it off every month. Can't put an entire purchase on it, and PM Rolex is 'spensive.

[watch3r]

I use a credit card to get the points (and then immediately pay off) when buying from AD. When buying used/gray I have also wired if there's a discount available, or used 0% interest deals from third party financiers (it's free money, assuming you're able to pay it back!).

[mickyd329]

Originally Posted by Oystersteel92

When it's an expensive piece I'm like Mad Max being disarmed at the gates of Bartertown. I'm pulling cash and credit cards out of every pocket and laying them on the counter. $10k on this one, $20k on this one, etc. That's how it's done son!

My highest limit card is also the one I put all my monthly expenses on, so it always has a balance of some sort, even though I pay it off every month. Can't put an entire purchase on it, and PM Rolex is 'spensive.

That's where an Amex card comes in handy.

[creepy neville]

Originally Posted by Calatrava r

Are you saying you would pass on a SS Daytona or Pepsi at retail from an AD over a three percent fee to use a credit card?

Yes - without a doubt.

[BayAreaTech]

Pay in full always. If you require to finance the timepiece, you should not purchase it.

This is where American Express shines. They have never denied my card for large purchases. Though I do have a history, and you can check your spending limit before hand for additional reassurance.

[1995akcoop]

I always pay using a credit card because I don’t have the cash to buy it out right. Usually takes me a year or two to pay it off then I charge another watch. I also didn’t have the cash to buy my Benz or my home so I financed that too. People act like they’re not in debt in some type of way on this forum.


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[2loaded]

I normally wire in advance. The boutique director has thanked me personally.

[RogerOP]

Originally Posted by BayAreaTech

Pay in full always. If you require to finance the timepiece, you should not purchase it.

This is where American Express shines. They have never denied my card for large purchases. Though I do have a history, and you can check your spending limit before hand for additional reassurance.

This is just your thought, and not particularly true.

Buy it over 3,5 or what ever year period you want. It’s up to the person. I personally haven’t and don’t but who the F cares.

[Cloudchaser]

If an AD doesn't accept my IOU, I am deeply offended. If they can't trust that I'll pay, how can I trust them enough to pay them all at once? I'm good for it and they should know that. This "relationship" with the AD is a two-way street, afterall.

Also, my AD told me that sales tax is entirely optional because Switzerland stays neutral politically, so you can only get airline points if they sell you a Daytona. Of course, credit cards charge 50% interest per month, which really adds up.

And this is why my dad always used Diner's Club.

[GMT Life]

Credit card for points, paid out in full by the next statement.

[Toproll85]

My rule is simple. It is not necessary and clearly luxury. All this must be paid in full, without affecting in any way his life and priorities such as the family.
Of course one can have saved for, and it is even more respectable.

If you pay this kind of thing on credit and / or payment installments, it is that you are above your pumps. Unfortunately society reflects it, many people live beyond their means thanks to this, a simple contribution and you drive in a car that you could not afford, and many other examples.
Often all it takes is a grain of sand and they find themselves in trouble.

I think it comes under education and financial management, even psychiatry... so I'm no one to judge.

Everyone has their own life, it just makes me laugh and I'm much better in my principles. Cash is the king !

[HogwldFLTR]

My approach is to put as much as possible on high interest credit cards and pay with minimum payments!!! The end of the world is near and whoever has the most owed wins!!!!

[Corvette]

Originally Posted by 1995akcoop

I always pay using a credit card because I don’t have the cash to buy it out right. Usually takes me a year or two to pay it off then I charge another watch. I also didn’t have the cash to buy my Benz or my home so I financed that too. People act like they’re not in debt in some type of way on this forum.


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A mortgage is something necessary as very few can afford to pay cash for a home however watches, expensive cars, luxury goods, etc are all discretionary. If you can get very low interest and make more having your money invested, I see no reason not to finance items however it's once you start paying high interest rates for goods you don't need that it is unwise. The only payment I've ever had is my mortgage and I plan to keep it that way. I know many people that definitely have nicer things that I do but I also know what their payment is on that boat/BMW/RV and I think it would be a terribly uncomfortable way to live.