Buying the Axe-FX with Credit?

H

hp/mp

Inspired
Is it impossible to buy the Axe Fx with credit?

I'm somewhat of a youngen, with no credit, and I obviously need to build some. I have the moolah for the Axe, but is buying with credit an option?

Thanks =)
 
what do you mean? Some kind of payment plan? Or do you just not have a credit card? Have you considered paypal linked to your bank account? I think that might be an option.
 
Credit is overrated and far too much of a headache.

IMO If you cant afford to pay for it you shouldn't have it. Its a hard pill to swallow (and you certainly don't have to listen to my advice) but having widdled down $15,000 worth of credit card debt I would not hesitate to say this. Do not buy anything like this on credit.

Save, save, save, save and OWN the thing when you get it. Do not be indebted to someone else and end up shelling out way more in the long run. At 25 I only wish I would have listened to others advice when they told me these exact things.

I repeat, do NOT buy stuff like this on a credit card. It can only lead to a vicious cycle. But then, This is all just my opinion at the end of the post.
 
Firstpenguin said:
what do you mean? Some kind of payment plan? Or do you just not have a credit card? Have you considered paypal linked to your bank account? I think that might be an option.
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Sorry, I guess shouldh'v tried to be more specific. I own a debit card, but need to get a credit card soon to start building my credit. So yes, I was curious about a payment plan.

I've just heard that if you can make good payments over a longer period of time, that your credit will build higher (sorry, cap'n obvious). So I was figuring that since I don't make purchases often, and I have more than enough money for the Axe, that I could use it to build credit over say, 1 years time. Not possible?
 
hp/mp said:
Firstpenguin said:
what do you mean? Some kind of payment plan? Or do you just not have a credit card? Have you considered paypal linked to your bank account? I think that might be an option.
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Sorry, I guess shouldh'v tried to be more specific. I own a debit card, but need to get a credit card soon to start building my credit. So yes, I was curious about a payment plan.

I've just heard that if you can make good payments over a longer period of time, that your credit will build higher (sorry, cap'n obvious). So I was figuring that since I don't make purchases often, and I have more than enough money for the Axe, that I could use it to build credit over say, 1 years time. Not possible?
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Doesn't make sense to me. Just buy it outright you'll have plenty of opportunity to buy foot controllers speakers, accessories ect to build your credit with. Smaller items you can pay off quickly and not be burdened with debt in case you run into a tough spot financially. Personally I wouldn't "plan" to be in debt.
 
Okay..I'm starting to get it better.. Like I said before I have more than enough money in the bank now, and my goal is just to build credit.
So then is it a good general idea to just not buy anything with credit over say, 1k, even if you have the cash in the bank? ..I'm starting to wonder if it buying a poweramp or speakers down the line would warrant a credit card use ?_?
 
Sometimes you can ask the bank you have your credit card with to give you a temporary increase on the card's limit, so you could pay it in full on the card. I don't know if you'll be able to do that with a new card, but it wouldn't hurt to call your bank and see what they can do.

I agree with everyone else though -- make your payments to the card in full when they're due. Do not incur debt.
The only debt I'll ever allow myself to have, if I can help it, is for a car (maybe) and for a house.

Building credit takes time. Just use the card, and always pay it off on time. There are different schools of thought, but in my opinion, it's better to never accrue any owed interest since that just costs you more money.
 
hp/mp said:
Okay..I'm starting to get it better.. Like I said before I have more than enough money in the bank now, and my goal is just to build credit.
So then is it a good general idea to just not buy anything with credit over say, 1k, even if you have the cash in the bank? ..I'm starting to wonder if it buying a poweramp or speakers down the line would warrant a credit card use ?_?
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As someone who has filed personal bankruptcy I have to say that NOTHING is worth using a credit card for. We filed in 2002, and we still have headaches from it.

And before you say it, YES we though we made enough money to cover the cards. It just never works out that way.

We still have a credit card, but it has a very low limit, I have actually told the card company not to raise it beyond what it is, and we only use it when we are in true need of something, like if we have a flat, or have to to the emergency room, or other some such emergency.

If you want to boost your credit, get a $600 loan, put the money in savings, and pay off the loan over a six month period, repeat as many time as you want, it's safe, and if your bank has a good savings plan you can actually break even on the interest, or even make money.
 
Aha, thanks, G-tiz. I had foolishly not researched other options to build credit until reading your post :oops:. Now I'm a little wiser, but the whole credit thing is a mess, but that's another story. (I just want to be able to rent an apt.)
So then even if I have the money for lower priced items below 1k, you'd say to avoid payment plans on gear from sites that offer them? ..Just makin sure ;)
 
at first, the title of the post suggested to me that he was wondering why Fractal and /or G66 hadn't yet offered a payment plan. Even in the midst of this recession, imagine the take-up of the Axe if you could get it on 18 months interest free credit. Could any factory cope with the demand? Could any forum cope with the newbies ?
 
Gary said:
at first, the title of the post suggested to me that he was wondering why Fractal and /or G66 hadn't yet offered a payment plan. Even in the midst of this recession, imagine the take-up of the Axe if you could get it on 18 months interest free credit. Could any factory cope with the demand? Could any forum cope with the newbies ?
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Since so many of us have ruminated on the subject of Cliff the person I will take this opportunity to publicly hope that Cliff in his infinite morality wouldn't want to add to current problems in the world by opening pandora's box and allowing gear junkies to dig their graves any deeper. Get yourself a cookie jar, piggy bank, or a tin can. Save a little. Even better put it somewhere it can gain some interest. Truth be told if you've got decent tube gear or a fancy pedal board. Selling off the gear the axe replaces often pays for most or all of it.
 
To build credit you need to carry a balance on the card and you need to make your payments on time over a long period of time. One safe way to build credit is to only buy stuff you already have the money for. Put that money in a separate account. Buy the thing you want with a credit card and pay the credit card off with the money from the separate account. Pay two or three times the minimum payment and pay the thing off after a few months. Note that you'll have to add money to the account for finance charges, etc.

The thing to remember about credit is that you don't so much build it as you buy it - over time by using and paying off the credit account. Credit cards are a mixed blessing - You can't rent a car or get a hotel room without one - but they can be very dangerous if you start to think that a credit card means free money.

cheers,
 
Firstpenguin said:
Gary said:
at first, the title of the post suggested to me that he was wondering why Fractal and /or G66 hadn't yet offered a payment plan. Even in the midst of this recession, imagine the take-up of the Axe if you could get it on 18 months interest free credit. Could any factory cope with the demand? Could any forum cope with the newbies ?
Click to expand...
Since so many of us have ruminated on the subject of Cliff the person I will take this opportunity to publicly hope that Cliff in his infinite morality wouldn't want to add to current problems in the world by opening pandora's box and allowing gear junkies to dig their graves any deeper. Get yourself a cookie jar, piggy bank, or a tin can. Save a little. Even better put it somewhere it can gain some interest. Truth be told if you've got decent tube gear or a fancy pedal board. Selling off the gear the axe replaces often pays for most or all of it.
Click to expand...

I always buy expensive gear like the AxeFX on my credit card. Why? Because my credit card issuer offers me additional insurance which you simply don't get by paying cash. The one time I paid for something without using my card was the one time that the company went out of business after it had cashed my cheque but before it had shipped the product. I lost the money. If I'd paid by credit card I'd have been taken care of 100%. Credit cards are excellent if used wisely.

To answer the original poster, have you approached your bank and asked if you could get a credit card if you put down a security deposit? Also, a cellphone contract is another easy way to build credit. I'd suggest against getting multiple small loans over and over again because each time you do it your credit file will be pulled - too many requests in too short a time and it doesn't look good to any potential lenders.
 
Gary said:
at first, the title of the post suggested to me that he was wondering why Fractal and /or G66 hadn't yet offered a payment plan. Even in the midst of this recession, imagine the take-up of the Axe if you could get it on 18 months interest free credit. Could any factory cope with the demand? Could any forum cope with the newbies ?
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I doubt it would increase sales significantly, and in the meantime it wouldn't be great for cash-flow especially when major new products are in the works, with the associated machining setup costs and so on.
 
satch_fly said:
I always buy expensive gear like the AxeFX on my credit card. Why? Because my credit card issuer offers me additional insurance which you simply don't get by paying cash. The one time I paid for something without using my card was the one time that the company went out of business after it had cashed my cheque but before it had shipped the product. I lost the money. If I'd paid by credit card I'd have been taken care of 100%. Credit cards are excellent if used wisely.
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Back when I used my CC cleverly, I'd put all kinds of stuff on credit. Partly for the ease of doing so, and partly for the security. I'd just make sure that when my bill came around, I had the money waiting in my bank to pay it off straight away so I didn't cop any interest. I had a $2k guitar purchase on Ebay go wrong, but it'd gone on to my CC. :cool:

A few bad choices and some unavoidable problems later, and now I'm digging myself out of crap. But I'm getting there at least. One card paid off now (the biggest one), one more to go. Paid off the bigger one first because the other one was incurring no interest at the time, and even after that period expired the interest rate is the lower of the two anyway. ;)
 
hp/mp said:
Aha, thanks, G-tiz. I had foolishly not researched other options to build credit until reading your post :oops:. Now I'm a little wiser, but the whole credit thing is a mess, but that's another story. (I just want to be able to rent an apt.)
So then even if I have the money for lower priced items below 1k, you'd say to avoid payment plans on gear from sites that offer them? ..Just makin sure ;)
Click to expand...

Payment plans usually have a lot higher interest rates that credit cards, and credit cards usually have higher interest rates than bank loans.

Of course there are times when you can get lower interest rates from Credit Cards, but it usually only for the first 30 to 90 days, which isn't long enough to build and significant credit.

Realistically speaking it takes at least a year to raise your credit score any significant amount, depending upon how much money you are being lent.

Oh, and NEVER do cash advances.

The ONLY times I use my Credit Card these days is if I can pay it off within the WEEK, or if it is an emergency.

Of course if you pay off a Credit Card before they charge you interest you haven't built any credit.

If you are wanting to venture out on your own and get an apartment, and you don't qualify, you either are going to have to tough it out where you are for about 6 to 12 months, or do as someone else suggested and get a cosigner.
 
Sorry... I have been loosely following this thread and since it seemed more building credit related I've stayed out of it. Of course I look through it again today and read some really stupid comments. I won't put the names on the comments and both the comments essentially implied the same thing and that is you have to essentially carry a balance and be charged interest to build credit.

Of course if you pay off a Credit Card before they charge you interest you haven't built any credit.
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To build credit you need to carry a balance on the card and you need to make your payments on time over a long period of time
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I can tell you for a fact that my wife from day one of a having a credit card has NEVER paid 1 cent of interest and has an extremely high credit score.

You don't build credit by paying interest. You build credit by consistently making payments for things you bought on credit. Start small... get a credit card... and get disciplined and payoff whatever you put on and never miss a payment. Once you get a good track record with lower limits you can get higher limits as a component of the credit score is how much credit has been extended to you.

Some people were actually getting screwed by their credit card companies with the current state of economy because the credit card companies reduced peoples limits and it negatively impacted their credit scores.

Anyways... start with a small limit. Be disciplined. Never miss a payment. Maybe if you buy some that requires a loan get parents to co-sign as that will help get you started and again never or rarely miss a payment.

You never want to pay more than you have to. Paying interest is such a waste. Fees are such a waste. I used to float my credit card balances and go to any ATM to withdrawl cash. After racking up $15k in debt, and with my wife's influence, I took a second out on my house, consolidated my debt, cut up all my credit cards save one, and got some discipline. Since then I have never paid a penny of interest.
 
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