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Would you buy a expensive knife on credit?

Discussion in 'General Knife Discussion' started by needler420, Mar 4, 2019.

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  1. buckeyejake

    buckeyejake

    292
    Dec 28, 2013
    Life is short . Do it .
     
  2. 22-rimfire

    22-rimfire Gold Member Gold Member

    Nov 20, 2005
    I would if I don't have to pay interest and can pay the bill off before the interest kicks in. It is a simple decision.
     
  3. Fanglekai

    Fanglekai

    Jan 7, 2007
    Don't put anything on credit that you can't pay off in full when the statement is due. This way you build credit and earn rewards points without paying interest or late fees.
     
  4. Peter Hartwig

    Peter Hartwig Gold Member Gold Member

    Feb 29, 2008
    Yes, but it can be a dangerous habit to get into if you don't have financial responsibility and self control. You should at least have a plan to pay it off.
     
  5. Pr3inar

    Pr3inar

    286
    Oct 17, 2015
    After 4 pages, I think we can safely say that the general answer is «no», the exception being that you do it for reaping rewards of the CC, but you already have the cash for it
     
    R.c.s likes this.
  6. needler420

    needler420 Basic Member Basic Member

    865
    Apr 29, 2011
    I have already decided to pass on it. Better to be safe then sorry.
     
  7. John_0917

    John_0917

    Apr 15, 2014
    No, could be a lot more than that, deductions can make a major implication in your total tax liability in ways like changing your nominal top bracket and with things like the AMT.

    If you can afford a house in cash then great, it simplifies things. Not many people can afford to do that, most who can are a)independently wealthy b) moving from a high cost to low cost area (ie CA to TX) c) living in a dump.

    I fall into none of those categories, have a mortgage, and went from what otherwise would have been a paying year to getting a significant refund thanks to my mortgage.
     
  8. RobertK

    RobertK post tenebras lux Platinum Member

    Dec 1, 2010
    Brother, this hurts me to read.

    I buy everything (possible) on credit cards but not on credit. I treat my credit card like a cash account. If I don't have money to buy it with cash, I don't buy it (excepting a house.... maybe larger expenses like vehicles). Understanding emergencies happen and the world isn't perfect, credit can and is an option at times, but please please take that step with great caution.

    If you're debating buying a $300 knife on credit with money you don't have now, earnestly I would plead with you to not buy it. Work on savings, on investing for the future first and then have fun.
     
    b00n likes this.
  9. sabre cat

    sabre cat Basic Member Basic Member

    Jul 4, 2014
    Credit card interest does not care if...

    ...you get sick.

    ...you get divorced.

    ...you get laid off.

    ...you are injured and can't work.

    ...your work hours are cut.

    ...your car breaks down and you can't make it to your job.

    ...your business is failing.

    ...it doubles the price of what you purchase.

    Interest does not leave you alone. Interest does not go away. The only thing interest cares about is itself. The same holds true about the credit card companies. They really only care about when they are paid and how much money you pay them.

    So, no. Buying a knife on credit is not the best idea.
     
    Last edited: Mar 5, 2019
    l1ranger likes this.
  10. KenHash

    KenHash Gold Member Gold Member

    Sep 11, 2014
    Very wise decision. You should never go into debt for something you don't "need".
    If you really "need" a knife for any reason whatsoever, guaranteed that any knife that you can afford to buy with the
    cash you have will accomplish the purpose.
     
  11. Reitwagen

    Reitwagen

    612
    Mar 2, 2009
    If I lived by this rule, I would be using flint knives.
     
  12. sabre cat

    sabre cat Basic Member Basic Member

    Jul 4, 2014
    Wise choice.

    I might have missed it but, I did not see anything about what knife you were considering. What knife did you want?

    I have learned that most of my knife desires are only temporary. If I still long for it after a year or two, then I start to pay attention.
     
    R.c.s likes this.
  13. gazz98

    gazz98 Gold Member Gold Member

    Sep 3, 2008
    I hate to sound like an old guy and I don't know how old you are but I'm a big fan of budgets and sticking to them. My credit card (yes 1) is for emergency only (like car craps out on the highway). Everything else is cash/debit with a several month emergency fund.

    Put some $ away each week or pay period and make a knife/toy fund. Don't buy anything unless the fund covers it. Have several things you want to buy? Make a priority list and buy what you can, we you can. Relying on no interest for x months and a big credit limits is how much of this country got into credit card debt.

    /old guy rant over

    Good luck!
     
  14. GB940Rookie

    GB940Rookie

    Apr 19, 2016
    Definitely no.
    Find a way to save.
    I have a “fun money” bag. I may buy a knife, ammo, or take my wife on a weekend getaway.
    If you can’t save up for it, you probably can’t afford it.
     
  15. coffeeandknives

    coffeeandknives

    93
    Mar 5, 2019
    Never buy anything purely on credit. If you cant afford it now, you likely cant afford it later. A couple of cars in high school taught me that the hard way.
     
  16. needler420

    needler420 Basic Member Basic Member

    865
    Apr 29, 2011
    Benchmade 51. TI found one at the flea market for $9 that will last me.

    I've been after a decent bali for years. When I finally got one I had to sell it shortly after losing a job.
     
  17. mikey488

    mikey488 Gold Member Basic Member Gold Member

    110
    Jun 10, 2006
    My rule for over 50 years. If you can't pay it off when the bill comes, don't buy it UNLESS having it will earn back more than it's cost. If you buy a tool that you need to earn your living is different than buying a toy or a fancy car which has a value that plummets towards zero at a rapid pace. It is simple to live within your means, but it's not the way of our culture. Be content with the blessings that God has given.
     
    RobertK likes this.
  18. LadyEarth

    LadyEarth

    846
    Nov 24, 2012
    Problem with credit card and knife collection is that sometimes knives such as Busse knives tends to pop out in the middle of no where when a lot of people aren't prepared and some folks just have to put it onto credit card and deal with paying it off later on when they're ready. One reason is because if they buy that knife later on, it's almost always at a mark up price because the value goes up over time.
     
  19. mushka

    mushka

    165
    Jun 27, 2018
    No.
     
  20. whp

    whp

    Apr 26, 2009
    You always use a credit card to buy a knife online. But it should be bought when one has the money to pay it off with the next bill.
     
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