Pay in full or use credit card?

[beshannon]

Originally Posted by Jabbo84

Truth be known they probably don’t have that much green at any given time. I’ll admit it sounds better, but your only fooling yourself.

Please explain?

[daOnlyBG]

Originally Posted by 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.

"Sales tax evasion" implies illegality.

It isn't.

[Blansky]

I pay with a credit card and pay it off over 10 years.

That way I get a watch and the economy gets a bump as well.

[jvb.nc]

Originally Posted by Jabbo84

Most claim they pay with a credit card for points or miles. Truth be known they probably don’t have that much green at any given time. I’ll admit it sounds better, but your only fooling yourself.

cool story bro.

[stateman]

Originally Posted by daOnlyBG

"Sales tax evasion" implies illegality.

It isn't.

Yes, it simply is illegal to not pay sales or use tax upon an otherwise taxable purchase in your home state. If you are lucky enough to live in one of the 5 states that don't have a sales tax, more power to you. But for the rest of us, avoiding sales tax collected by the seller does not obviate the legal requirement to self-assess and pay that tax in your resident state.

Believe it or not, I'm not trying to tell you what to do. I don't live my own life in perfect accordance with all rules and regulations. I just find it different and a bit odd to recommend someone else to do something that doesn't actually save $ is they were to follow the law.

[77T]

I’m an outlier here I guess.

Over past 20 years and about 30 purchases (Rolex, Omega and others) always paid cash. I usually negotiated a cash discount in the deal. Was doing much flipping then and cash made more sense.

But admit i haven’t bought since 2017. So if an AD won’t do a cash discount nowadays, I would prolly do many did here with a card and payoff upon billing.


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[Nikrnic]

I pay by cash or cc, it depends on the situation.Im not big on playing the cc game for points, cash back or keeping my score over 800. I like to stay debt free, although sometimes it is safer and more convenient to use plastic then just pay it off although I wired funds as well to trusted sellers for a better discount too. I still believe cash is king. On certain pieces I've bought from ADs I've made my best deals by paying F2F with cash. My best discount of late was on an allocated DJ41 that had to be ordered. I prepaid cash in full and recieved 15.5% off, no tax, (or tax incl) which was another 6% off for me as the AD ate it. I know I wouldn't have pulled that off with a card.

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[037]

Originally Posted by 77T

I’m an outlier here I guess.

Over past 20 years and about 30 purchases (Rolex, Omega and others) always paid cash. I usually negotiated a cash discount in the deal.

Nah, I'm sure many here pay cash, especially if in good with an AD who still discounts for it.

[jitdc]

Cards for everything, at least every purchase that will let me. Pay it off in full at the end of the month. Same for both of my businesses, and the cash back is very nice.


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[MillyS]

Yet to buy by Rolex but my plan - Amex for the airmiles and pay off in full when I get home or when the bill arrives.

[2nastie]

I often wonder if this is a serious question when you go a forum like this and ask if one should buy a luxury item (in today's standard... jewelry) on credit card debt.

Whatever method you chose: cash, card, gold, diamonds, etc. pay off these items in full immediately or within the standard one month billing cycle. There is zero issues paying with card, but in my books all it should be used as is a convenient tool instead of carrying so much funds around. The points, cash back, whatever it may be is just bonus.

I know society resorts on debt like this to survive, but on a luxury item. Never. Charge cards should become the norm instead of credit cards imo.

[IndianRider]

Who cares? Of course some will pay with cash, others card... it's just another purchase.

[dwjez14]

I use my Amex card

[danyvw]

Pay the way you like, at the end is your money and ONLY YOU know what's better for you.

[escobar144]

I bought my DJ41 from an AD brand new and charged it all on my AMEX. When the bill came in I paid it all off at once. I then used the points from the watch to book a room in las vegas for my birthday this May. Winner Winner Chicken Dinner!

[RCrusoe]

I'd prefer to pay with credit card (and pay off at month end) so as to collect reward points and the additional benefits of damage protection, extended warranty, etc. that come with some cards. I have found, however, that ADs are much more inclined to discount when paying with cash, cheque, or bank draft (save on credit card fees, etc).

[jrs146]

get the points on a card. Then pay it off!

[2mgversed]

Put on card. Pay off when it arrives. Although my current card gave me 0.0% for the next year, which could free up some dough if needed.

[TheSearcher]

Pay in full.

But if you are sensible with money, have a 0% credit offer and you are earning a % with your cash in the bank then it may well pay to use credit.

[TheSearcher]

There is good debt and bad debt in life IMO

[Harry-57]

We don't buy luxury goods until the money is set aside. We'll either pay by debit card/BACS or credit card and pay it off in full when the invoice arrives. The latter can provide some insurance and protection in some situations.

We will not buy anything like watches, cars, jewellery, audio equipment etc. unless we already have the cost covered by cash. Whereas you might be able to justify something like a car in some circumstances, buying a Rolex on CC just doesn't make any sense to me. If I can't afford it, I don't have it. And as for the extortionate interest charged on CCs, well, let's not even go there!

[MichelleP]

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.

Same

[JMTE]

Don’t purchase on credit without the funds to pay it off when interest hits.

You are losing money if you pay cash when a 0% APR option is available, bottom line, there is no debate. The ONLY way it makes sense to pay cash is if you can negotiate a discount that exceeds the cash back you’d have gotten on a card with no teaser interest-free period.

[GONZO2LR]

Originally Posted by Jabbo84

Most claim they pay with a credit card for points or miles. Truth be known they probably don’t have that much green at any given time. I’ll admit it sounds better, but your only fooling yourself.

common folk have money too..we'es saves our money in jars n buried money to buys ours Rolexes..

[Tony64]

Originally Posted by 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.

This exactly.

[m j b]

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.

This.

But I use a credit card because they won't give me a discount for cash, and I get 1.5% back (as cash). On my new sub, at $7900 plus sales tax, that's a $127 rebate. Well worth it.

And yes, I pay it off when due.

Plus, I get a minimum of 30 days before it's due, which can be nearly 60 days depending on when in the cycle I buy the watch. So that's free money that I'm earning interest on.

[TonyD]

Here's the weird part about a credit card. I have a few cards, don't carry a balance and have an excellent credit score. Whenever I use a card to buy a new watch my credit score actually goes DOWN about 20-30 points!

The reason stated is credit usage but the amount is insane. I'm not going to give the real numbers but the % of available credit used jumps from something like 3% to 5%. Its get paid off the next month and then slowly over the next 6 months my credit score creeps back up.

I understand the idea, but its not like I'm suddenly using 90% of my available credit. How does even a 10% jump in ONE month justify a score drop?

The credit score formula and industry is absolutely bonkers......

[DoctorSpazz]

Always pay with credit and pay off in full once posted. Never buy if you don’t have the funds


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[mk2jag]

Definitely credit card... you get points which can be very handy. I give them to my kids who in turn buy tickets to travel. Win win situation.


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[Abmatt2002]

@TonyD Because it’s a large %age use. I think the recommendation is that you should never use over 50% of your available credit line. It also depends on the limit of the card. If the card had a 10k limit and you max it out in one go, that can effect your rating too.

Plus the credit score houses don’t know that you plan to pay off the balance at the end of the month.