[Thready]

I had a Newegg Preferred Account which was handled by Bill Me Later and I loved using it because I could get good financing deals if I spent $500. I was good with paying it off which was no problem because I would maybe spend $500 every 6 months and then take a year to get it paid off. I still owe $250 on it. Since Newegg closed that service and went with their own Newegg store card which is by I think Synchrony Bank, I had basically no way of buying anything I need on credit. So I applied for one of the cards last night and was approved. I limit myself to buying only the necessities on credit, like if an HDD goes out and I don't have money to replace it, I'll buy it on credit.

I need to buy this 1440p $430 Asus MX monitor because I'm doing a lot of photo editing and now I'm doing projects for family and friends and I can't use my $150 ViewSonic monitor anymore because I notice a lot of problems with it when editing. And this Asus monitor is supposedly the best for under $500.

I guess I just get nervous whenever using credit to buy something so I want to know if anybody has any advice for me with this card. Do you have one? Are there any traps to look out for with it that are unique about this card? I'm pretty good at paying my bills so if this card is anything like their old card I should be fine.

 

[NexusRed]

If it's a credit card, pay it like a credit card. Look at your interest rate and terms. As long as you understand what your getting and what you need to pay, you'll be fine.

 

[Thready]

Quote:

Originally Posted by NexusRed

If it's a credit card, pay it like a credit card. Look at your interest rate and terms. As long as you understand what your getting and what you need to pay, you'll be fine.

Yeah. I just wanted to make sure there were no pitfalls with this thing before I use it. I've had a Newegg preferred account for a few years. That's the only credit I ever really needed because computer parts are so damn expensive!

 

[candy_van]

If you absolutley want whatever rewards bonuses are on the credit card then go for it.
Just be aware of the interest rates and how much you are "saving" yourself in terms of cash flow ease VS total amount spent.

It goes without saying (in general) but credit cards aren't really meant to buy things you can't afford - that's how all the companies make their money - by interest.
Personally I don't do store credit cards; I'll get a rewards card for daily expenditures and have another VISA for larger purchases. Lowest APRs I can find are king for the latter.

Paying your statements off in full always keeps your credit score higher. Total amount of credit available VS owed along with credit history make up your scores.

Also keep in mind that cancelling a credit card will make your score(s) take a hit - it's usually best to just renew / never use the card at all should you decide it's not what you need anymore.

 

[Poisoner]

It'd be better to save the cash every month and buy it than to buy it on credit and pay a bunch in interest on top of the cost of the item.

 

[candy_van]

Using a credit card doesn't inherently mean you have to pay interest. If you have one and pay something off in full there is none, and you only help your credit score.