What card would you arrange financing to buy?

[raulus]

Originally Posted by todeen

I can see I'm in the minority. Using a CC does not bother me. Is it smart? Probably not. But I'm not destroying my life, my family's life, or signing a pact with the devil. I don't drink, smoke, gamble, drink coffee, speculate in the markets, I don't travel, or go to concerts. We don't own a house (and the idea that my $10k collection would translate into a 20% down payment is ridiculous). I have a pension, life insurance, I have additional investments called DCP, I have started saving for my kids college, I pay for my kids to be in after school activities, I force my wife to buy clothes and shoes, I take my wife on dates. All of the things I've listed are paid for in cash. Compared to my college debt (which honestly might never be paid off before I die), my CC debt is miniscule and is paid off every year. Both of my kids cost $5k each in health costs. They were more expensive than any card I ever bought.

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I’m guessing that most people who are considering going into debt are looking at buying a card for 5 or 6 figures, maybe more. From the sound of it, you’re sticking to 3 or maybe low 4 figures tops.

I wouldn’t sweat buying a card here and there on your credit card at those prices, although I would encourage you to pay it off quick, because the interest will erode your ability to make additional acquisitions.

[G1911]

Paying in installments is different than going into debt. Though, if one needs or wants to pay in installments instead of up front, that should be a red flag that one is purchasing something that it is not responsible for them to purchase. If it’s too much of a hit to want to see at once, you probably shouldn’t be buying it.


I have paid more than 1% of my cash on hand for a card (not net worth, but liquid cash sitting in the bank) only once. I would guess I am in the bottom 10% of active posters here in net worth as I am young and have not had many earning years. Cards are a hobby. They might make you money over the long haul and they might end up a good investment. Spending your money on cards instead of you and your family’s needs (which kind of has to happen if you’re going into debt because you can’t actually afford the card) is irresponsible. Just as you shouldn’t go into debt to invest in bonds, stocks or crypto you shouldn’t spend more than you have, or most/all of what you actually have, on baseball cards if they are investment. If they are not an investment, it’s even more grossly irresponsible to put yourself into debt for a hobby item for your collection. Housing, food, transportation, retirement, savings for a rainy day, all these need to come first. This should go without saying…

[oldjudge]

Over the years I have both bought and sold on installments or some variation thereof and I can’t think of an issue with either. Oftentimes a buyer may be asset sufficient but cash poor and just needs some time to reallocate things.