(Topic ID: 188088)

Financing?

By Nemesis

6 years ago


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#11 6 years ago

I funded my pinball addiction with my MBNA mastercard. They always have promotions on for 12 months 0% interest. They do charge 1% balance transfer fee but that's it. I see it more as taking a lwo interest loan. Why would I spend it cash when my cash accumulates more interest at the bank (mind you not much more) in the same period of time. There are a few pitfalls that people need to be aware of. 1) do not be late on one payment or interest rates skyrocket to 19%. 2) don't put anything else on the card as you have to pay the balance of the first thing you bought before you can pay the second. Following these two rules I was able to keep my money in the bank and buy pinball machines 3 years in a row. Just make sure you can pay down the balance before the 12 month period or else 19% interest kicks in.

At any rate it's an option for people that want to go that route. Find a 0% balance transfer card and use it as your pinball buying fund. Or go the cash route.

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