Pay in full or use credit card?

[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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[2th_doc]

Getting my popcorn ready.


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[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.

[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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[KJBrandal]

Pay with credit card, then pay that off immediately! Buying a Rolex gives a good amount of "cash back" hehe

[notchview]

Always on credit card for the points, and always shipped out of state so I don't pay sales tax. Pay off card immediately.

[JMTE]

Originally Posted by notchview

Always on credit card for the points, and always shipped out of state so I don't pay sales tax. Pay off card immediately.

Exactly.

I have also used a credit card with 0% interest for an 18 month period and invested the cash I would’ve used to pay if off to scrape interest. I got about 2% cash back on the purchase with the card, shipped out of state to avoid sales tax, and earned about 3% on the cash until the balance is due.

I don’t think people would recommend that but it worked for me, ended up saving me thousands (tax, interest, cash back) off of the price.

[beshannon]

I use a credit card take my points and pay off the bill when it comes in

[stateman]

Agree with the others to use a credit card for maximum point generation and then pay if off immediately.

Hard to recommend the part about tax evasion...don't mean to sound pedantic or preachy, but it is always interesting how people are encouraged to break the law when it comes to sales tax evasion.

[037]

I pay using the card that Rolex provides with every watch.

[Pantheon]

Can't see any benefit in using cash if you can pay in full

[MTdweller]

I imagine you aren’t going to hear from too many folks that purchase on solely on credit here. It would be an admission they can’t really afford the watch.

[dualcarb]

Like the others, I also like to pay with the credit card. I collect points and use the benefits that the points give me. I will never buy “luxury goods” on credit if I can’t afford it. I will pay off the credit card bills in full when I get it.

[GoingPlaces]

Originally Posted by 037

I pay using the card that Rolex provides with every watch.

I use the gold one, upgraded from green.

[HogwldFLTR]

Use credit card for benefits and then pay full imho. Cash back or mileage is worth getting.

[offrdmania]

I have an old 3% cash back card that I use. I pay it off on the first billing cycle and then request a check for the 3%.

[Zakalwe]

Card is an obvious no-brainer.

Additional to the above, the credit company can come in handy in the event of any post-purchase disputes. Factor in the (admittedly very small) risk of losing/being robbed of a large amount of cash, it’s hard to think of any reason not to use a card.

[Pantheon]

Originally Posted by MTdweller

I imagine you aren’t going to hear from too many folks that purchase on solely on credit here. It would be an admission they can’t really afford the watch.

Actually there are some ADs that offer 12 months 0% APR like tourneau. I've had friends who have applied for it and just pay it off before interest hits even if they could afford it.

Also I do find the notion of saying if you can't afford to pay it in full you shouldn't buy it silly sometimes. I do see the wisdom in the advice don't get me wrong. Yet I see people finance/lease their vehicles all the time. There seems to be no stigma that comes with doing that.

[Zakalwe]

Originally Posted by Pantheon

Actually there are some ADs that offer 12 months 0% APR like tourneau. I've had friends who have applied for it and just pay it off before interest hits even if they could afford it.

If your sole intent is to maximise bang for buck, then using 0% credit offers is a no-brainer too.

I’m no finance whizz, but it’s easily possible for most to average 6-10% annual growth on a cash investment. So taking that e.g £10k watch cash and investing it whilst taking out 0% on the watch will leave you better off after a year than if you’d just paid for the watch up front.

[6538]

I use my debit card.

[Pantheon]

Originally Posted by Zakalwe

If your sole intent is to maximise bang for buck, then using 0% credit offers is a no-brainer too.

I’m no finance whizz, but it’s easily possible for most to average 6-10% annual growth on a cash investment. So taking that e.g £10k watch cash and investing it whilst taking out 0% on the watch will leave you better off after a year than if you’d just paid for the watch up front.

Dude don't give out smart info like that. The anti-credit card brigade here might get a heart attack

[strafer_kid]

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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Yep!

[Docaw007]

Just like others. Card then I go home and immediately pay it off. I am a points gamer and the extra value is a no brainer.

[brandrea]

As many others have said, I do both.

Charge to the credit card and pay it off in full when the bill comes in.

[1Zach1]

I use a credit card for almost everything and pay off the balance every month.

[sp3ak]

Same as most. I made sure I had the $$ ready in the bank then used the credit card to get cash back.

I put as much as I can on my credit card and get anywhere from $50-$100+ back per month. Never carried a balance.

[DtownRRS]

AMX for points and pay off the full bill at the end of the month.

[Eagles4133]

Originally Posted by JMTE

Exactly.

I have also used a credit card with 0% interest for an 18 month period and invested the cash I would’ve used to pay if off to scrape interest. I got about 2% cash back on the purchase with the card, shipped out of state to avoid sales tax, and earned about 3% on the cash until the balance is due.

I don’t think people would recommend that but it worked for me, ended up saving me thousands (tax, interest, cash back) off of the price.

You and I think alike, that's exactly what I do. Using other peoples money to get what you want always makes the most sense! Especially in these times when a model you've been waiting for magically becomes available, you want to be able to purchase quickly.

[Bybybmw]

I'm in the CC use, collect the cash back and pay off when the CC bill comes in club.

[jvb.nc]

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.

+1

(but i usually apply the points to miles so i can travel free)