How do you pay for time piece(s)? Cash or Credit

[Ed Rooney]

Credit card, but I pay all of my cards in full each month.

[DrLindaPhD]

Originally Posted by jonnyz1245

Yup thats what I said. Is there something wrong with that? If the cost of an international business class ticket is 9K, and I get a companion ticket for spending XX a year, and an $8000 watch puts me over the yearly spend, why wouldn't I? The value of those two tickets if I bought them would be north of 20K and they end up costing me nothing. Totally legit and I promise you I am not the only one...

You should go over to flyertalk.com and read some of the things people do to get miles. A couple years ago, there was a wall street journal article about the latest and great fad to get miles. People were buying dollar coins from the US mint in batches of $10,000 and then depositing the $ to pay off the bill. It eventually got shut down b/c one guy bought over a million dollars in coins in a year and his bank would no longer accept them.

I have never paid for an international airline ticket. I had no idea it could/would cost you $9,000. My twin sister uses her Capital One card for everything so that she and her husband get a free ticket to Paris each year (he has family there). I guess I never thought of buying a Rolex and then flipping it for the miles. Now that you explain it, it makes sense but I would have a nervous breakdown over worrying about the flip. I buy to keep and I sell only when I want to buy something better/bigger and that's rare.

[Jsan20]

Who uses cash. I didn't know it was still around.

[crowncollection]

Originally Posted by padi56

well imho how anyone pays for anything is there business and there business only.

x 2

[bewithabob]

Chickens are an accepted currency in some countries…so I will go with….white meat.

[springbar]

Originally Posted by jay1988

Cash is king. My AD has 0% interest which I would possibly use if I really wanted a watch but I'd have to have the money in an account somewhere so that even if I suddenly got fired I could still pay it of.

The 0% deal is, in fact, a discount proportional to the rate of inflation. If you pay cash, you're paying more for the watch and unnecessarily reducing the savings you could use to buy groceries in case you get fired. There is no financial advantage to paying cash in this scenario - though for many people there seems to be a psychological one.

[liuk3]

You guys paying in cash really walk around with $10K-$30K+ in your pocket??? If purchasing from an AD, I'll use credit card for the convenience and miles, and then like everyone else payit off immediately by wiring funds from my bank account. I'm actually surprised so many people say that they buy from AD in cash, unless most of the peope are buying from other third parties which do not accept credit cards.

[jphj012]

Credit Card is the way to go if you have the money to pay it off. First of all, my cc has 0% interest, on top of that I get reward points. (I have bank of america cc) Unless you get a really really sweet discounts for your Rolex watches, I prefer paying in credit card.

[tom2517]

I pay cash for more discounts.

[caryyee]

Originally Posted by Jsan20

Who uses cash. I didn't know it was still around.

'Cash' to me means a bank check ... I don't think anyone here means 'cash' as in a bag full of $20's????

[Jake B]

Originally Posted by Jsan20

Who uses cash. I didn't know it was still around.

Not everywhere is like where you live. It's a great big world out there.

[Hairdude1]

cash!

[dalip]

Originally Posted by liuk3

You guys paying in cash really walk around with $10K-$30K+ in your pocket??? If purchasing from an AD, I'll use credit card for the convenience and miles, and then like everyone else payit off immediately by wiring funds from my bank account. I'm actually surprised so many people say that they buy from AD in cash, unless most of the peope are buying from other third parties which do not accept credit cards.

This is how I understand this topic:

Credit vs Cash...that's what this is about (again)...

Not in a literal sense (i.e. carrying wads of bank notes) - but cash is simply saying you have the money to put down and it's not come from "credit"..

Even if using a credit card if you can pay it off before interest starts accumulating then that's basically a 'cash' transaction in this context.

All this as opposed to taking out a loan - or going for store credit etc...Or worse (IMO) - building up your credit card and not paying it off prior to the interest beginning

[FiftyTwoEighty]

AMEX, pay that sucker off, and get the points.

[Dr. Robert]

I sell my body parts.

[Feras]

Originally Posted by Dr. Robert

I sell my body parts.

Doc, i started to get more curious regarding this subject

[RolexExplorerguy]

def cash

[liuk3]

Originally Posted by dalip

This is how I understand this topic:

Credit vs Cash...that's what this is about (again)...

Not in a literal sense (i.e. carrying wads of bank notes) - but cash is simply saying you have the money to put down and it's not come from "credit"..

Even if using a credit card if you can pay it off before interest starts accumulating then that's basically a 'cash' transaction in this context.

All this as opposed to taking out a loan - or going for store credit etc...Or worse (IMO) - building up your credit card and not paying it off prior to the interest beginning

If that's the case then I don't know if many people are taking loans out to buy a luxury watch, and if they are, I'll bet fewer are going to admit that they're actually putting themselves in debt to do so on an Internet forum...

In any case, I do appreciate the clarification. :-)

[lortap]

Originally Posted by padi56
well imho how anyone pays for anything is there business and there business only.

While I certainly agree this would be a rude question to ask someone in person “how did you pay for that Rolex Sir?” I can see this as a legitimate question on a forum when debating the best way to pay for what most of us (myself included) would consider a high dollar item. Yes, it is an indulgence that may not be needed but rather wanted. It is still in the same price category as some would pay for an automobile.

With that said, I think common sense rules here. If you can put it on credit card, get the bonus points, REI rewards, etc and then pay off that statement, call it a bonus. Had you paid cash you would not get the bonus. Myself I had no problem taking the Ben Bridge 1 year no interest payment plan. What I did not do though, was pay minimum payments. Simple math divides amount owed by 12 months and I was certain to pay off, which amounts to a free 12 month loan, with no interest. This was an advantage in my case as I knew that in less than ½ the pay-off time I would receive a decent pay increase that allowed that much more ease of payment. BTW, paid it off just under one year with no interest!

[johnbeth]

I use peanuts as currency...

[esm]

Originally Posted by johnbeth

I use peanuts as currency...

I'm guessing that's because the olives aren't worth what they are used to...

[ROGERWILCO357]

Blood sweat and tears

[calbee673]

Credit card as payment and then pay it all off when the bill arrives. Reward points are a bonus :)

[dalip]

Originally Posted by liuk3

If that's the case then I don't know if many people are taking loans out to buy a luxury watch, and if they are, I'll bet fewer are going to admit that they're actually putting themselves in debt to do so on an Internet forum...

In any case, I do appreciate the clarification. :-)

You'd be surprised...

Hence why Peter made the point he did above...

[johnbeth]

Originally Posted by esm

I'm guessing that's because the olives aren't worth what they are used to...

[Jake B]

Originally Posted by dalip

This is how I understand this topic:

Credit vs Cash...that's what this is about (again)...

Not in a literal sense (i.e. carrying wads of bank notes) - but cash is simply saying you have the money to put down and it's not come from "credit"..

Even if using a credit card if you can pay it off before interest starts accumulating then that's basically a 'cash' transaction in this context.

All this as opposed to taking out a loan - or going for store credit etc...Or worse (IMO) - building up your credit card and not paying it off prior to the interest beginning

I understand cash as meaning paper currency, handed to the seller, over a counter, by the buyer. As in , "How would you like to pay for the watch, sir...Cash, credit, or 12 month payment plan?"

[Steelgold]

Originally Posted by ed rooney

credit card, but i pay all of my cards in full each month.

x2

[beshannon]

Originally Posted by Jsan20

Who uses cash. I didn't know it was still around.

Not everyone accepts credit cards especially private party sales

[DJJon]

Originally Posted by Al1988

It's funny, for a long time I assumed that when people said they bought watches with cash instead of credit, I interpreted that as via debit card vs interest free installments. I had a good laugh when I realised people actually meant they were walking into shops with stacks of $100 bills to pay for multiple thousand dollar watches

I pay for my watches on my debit card, I wouldn't feel comfortable carrying multiple thousands of pounds, nor do I think my AD would accept it

Not enough guys buying on Credit Card so they can get insurance, eh? Surprising, that would be a compelling reason for me.

I got a bank check for the exact amount because I did not want to have to walk around carrying the better part of $10K in $100 bills. As low as the odds would be, imagine getting mugged or held up between bank and AD.

The main reason I paid by banker's check (call it cash for this thread) vs a CC to get points, is because I drove a great discount deal. Seeing how the CC costs the AD a few percent and he wasn't going down as low as he did in price unless it was to be a cash deal.

[patrike]

When I wrote "cash" I meant a plastic card connected directly to my bank account. Whatever that's called in English :)


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