can't afford to buy laptop in cash. Credit cars is an option.

Philippines
September 7, 2010 1:51pm CST
i want to buy a laptop but it's too way expensive. My income isn't enough so it's hard for me to save up some money for a new laptop. Maybe it will take a few years to save up enough money. But i don't want to wait. I am thinking of applying for a credit card. Do you think it's a good idea? I'm afraid to be drowned by debts. But i really want a laptop. Please let me know the pros and cons of a credit card? And one more thing, it isn't easy to be approved in credit cards. So i just hope that i will be lucky to have one ASAP.
2 responses
• United States
8 Sep 10
For one thing: credit cards are amazingly easy to get, because they want to swamp you into debt immediately and always. a second thing: if you can't afford to put money away on a monthly basis to save up for a laptop, then you can't afford the monthly payments the credit card will charge you. If you are on low income, you will SAVE MONEY but saving up first, paying in cash, and avoiding the insane interest rates credit cards charge you. What I would do is I would open a high yield savings account, and put money away into it every month until I have about 3 months worth of salary in it (or for your case, until it's enough for the laptop) Believe me, if you get a laptop on credit, that machine will be obsolete before you're even done paying for it. save up first!
• Philippines
9 Sep 10
thank you for the reply. I think you're right. Need to save up first. As i heard, credit card charge high interest rates. Hmm... i don't know much about credit cards.
1 person likes this
• United States
9 Sep 10
thank you. I've been in your shoes, and went with the credit card route. 2 years later is when I had FINALLY paid off the credit card I openened, and with interest ended up paying three times as much as I would have had I saved up first.
@eden_shii (508)
• Australia
9 Sep 10
tess, I think you have to think twice if you are going to buy a laptop. Think PRACTICALITY not just the affordability of the price. If laptop is something that you really need because you are always travelling and it is badly needed for you to earn, then you can consider saving up some money. I am not really in favor of using credit cards to buy some stuff. Also, you have to consider that laptops are hard to be fixed once it has problems. So, if it is not practical to buy a laptop because it is not something you badly need, then consider buying affordable desktops. The price is affordable and it is very useful too. Just the same, save up some cash. At least if you'll decide to buy a desktop, you don't have to save up some money for like forever since desktops are really affordable.