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sevensevens
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Layaway

You won't be able to do this with a credit card, as their entire business is built around buy-now, pay-more-later. It may be more difficult to find, but some stores offer Layaway, where you pick out an item, and the store holds it for you until you make the last payment. You don't get it until you've paid in full, but in many cases, the store doesn't charge interest.

Be careful with the layaway fine print

Many stores will charge a small fee to open a layaway account. You'll have to bring 10%-15% up front. You also will pay weekly, not monthly, and the most generous term will be 90 days. If you end up not paying they will keep at least some of your payments, usually as a restocking fee. You also generally won't be able to get hot-ticket items this way as the store can easily find someone with cash-in-hand. And some stores charge some interest as they are essentially extending you credit and holding product for you.

The best way to buy is always cash in hand.

Public Service Announcement about college and credit cards

Credit card companies target college students. They know they'll run it up, and either spend years making the minimum payments, or mom and dad will pay it off.

If you have no credit, go to a bank and get a secured card for $1000. A secured card is a credit card where you open an account with the spending limit. If you can't pay, then the credit union will just use that account. Don't carry it with you and make a few purchases a year on it and pay it off immediately.

Layaway

You won't be able to do this with a credit card, as their entire business is built around buy-now, pay-more-later. It may be more difficult to find, but some stores offer Layaway, where you pick out an item, and the store holds it for you until you make the last payment. You don't get it until you've paid in full, but in many cases, the store doesn't charge interest.

Be careful with the layaway fine print

Many stores will charge a small fee to open a layaway account. You'll have to bring 10%-15% up front. You also will pay weekly, not monthly, and the most generous term will be 90 days. If you end up not paying they will keep at least some of your payments, usually as a restocking fee. You also generally won't be able to get hot-ticket items this way as the store can easily find someone with cash-in-hand. And some stores charge some interest as they are essentially extending you credit and holding product for you.

Public Service Announcement about college and credit cards

Credit card companies target college students. They know they'll run it up, and either spend years making the minimum payments, or mom and dad will pay it off.

If you have no credit, go to a bank and get a secured card for $1000. A secured card is a credit card where you open an account with the spending limit. If you can't pay, then the credit union will just use that account. Don't carry it with you and make a few purchases a year on it and pay it off immediately.

Layaway

You won't be able to do this with a credit card, as their entire business is built around buy-now, pay-more-later. It may be more difficult to find, but some stores offer Layaway, where you pick out an item, and the store holds it for you until you make the last payment. You don't get it until you've paid in full, but in many cases, the store doesn't charge interest.

Be careful with the layaway fine print

Many stores will charge a small fee to open a layaway account. You'll have to bring 10%-15% up front. You also will pay weekly, not monthly, and the most generous term will be 90 days. If you end up not paying they will keep at least some of your payments, usually as a restocking fee. You also generally won't be able to get hot-ticket items this way as the store can easily find someone with cash-in-hand. And some stores charge some interest as they are essentially extending you credit and holding product for you.

The best way to buy is always cash in hand.

Public Service Announcement about college and credit cards

Credit card companies target college students. They know they'll run it up, and either spend years making the minimum payments, or mom and dad will pay it off.

If you have no credit, go to a bank and get a secured card for $1000. A secured card is a credit card where you open an account with the spending limit. If you can't pay, then the credit union will just use that account. Don't carry it with you and make a few purchases a year on it and pay it off immediately.

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sevensevens
  • 4.1k
  • 1
  • 18
  • 22

Layaway

You won't be able to do this with a credit card, as their entire business is built around buy-now, pay-more-later. It may be more difficult to find, but some stores offer Layaway, where you pick out an item, and the store holds it for you until you make the last payment. You don't get it until you've paid in full, but in many cases, the store doesn't charge interest.

Be careful with the layaway fine print

Many stores will charge a small fee to open a layaway account. You'll have to bring 10%-15% up front. You also will pay weekly, not monthly, and the most generous term will be 90 days. If you end up not paying they will keep at least some of your payments, usually as a restocking fee. You also generally won't be able to get hot-ticket items this way as the store can easily find someone with cash-in-hand. And some stores charge some interest as they are essentially extending you credit and holding product for you.

Public Service Announcement about college and credit cards

Credit card companies target college students. They know they'll run it up, and either spend years making the minimum payments, or mom and dad will pay it off.

If you have no credit, go to a bank and get a secured card for $1000. A secured card is a credit card where you open an account with the spending limit. If you can't pay, then the credit union will just use that account. Don't carry it with you and make a few purchases a year on it and pay it off immediately.

Layaway

You won't be able to do this with a credit card, as their entire business is built around buy-now, pay-more-later. It may be more difficult to find, but some stores offer Layaway, where you pick out an item, and the store holds it for you until you make the last payment. You don't get it until you've paid in full, but in many cases, the store doesn't charge interest.

Public Service Announcement about college and credit cards

Credit card companies target college students. They know they'll run it up, and either spend years making the minimum payments, or mom and dad will pay it off.

If you have no credit, go to a bank and get a secured card for $1000. A secured card is a credit card where you open an account with the spending limit. If you can't pay, then the credit union will just use that account. Don't carry it with you and make a few purchases a year on it and pay it off immediately.

Layaway

You won't be able to do this with a credit card, as their entire business is built around buy-now, pay-more-later. It may be more difficult to find, but some stores offer Layaway, where you pick out an item, and the store holds it for you until you make the last payment. You don't get it until you've paid in full, but in many cases, the store doesn't charge interest.

Be careful with the layaway fine print

Many stores will charge a small fee to open a layaway account. You'll have to bring 10%-15% up front. You also will pay weekly, not monthly, and the most generous term will be 90 days. If you end up not paying they will keep at least some of your payments, usually as a restocking fee. You also generally won't be able to get hot-ticket items this way as the store can easily find someone with cash-in-hand. And some stores charge some interest as they are essentially extending you credit and holding product for you.

Public Service Announcement about college and credit cards

Credit card companies target college students. They know they'll run it up, and either spend years making the minimum payments, or mom and dad will pay it off.

If you have no credit, go to a bank and get a secured card for $1000. A secured card is a credit card where you open an account with the spending limit. If you can't pay, then the credit union will just use that account. Don't carry it with you and make a few purchases a year on it and pay it off immediately.

Source Link
sevensevens
  • 4.1k
  • 1
  • 18
  • 22

Layaway

You won't be able to do this with a credit card, as their entire business is built around buy-now, pay-more-later. It may be more difficult to find, but some stores offer Layaway, where you pick out an item, and the store holds it for you until you make the last payment. You don't get it until you've paid in full, but in many cases, the store doesn't charge interest.

Public Service Announcement about college and credit cards

Credit card companies target college students. They know they'll run it up, and either spend years making the minimum payments, or mom and dad will pay it off.

If you have no credit, go to a bank and get a secured card for $1000. A secured card is a credit card where you open an account with the spending limit. If you can't pay, then the credit union will just use that account. Don't carry it with you and make a few purchases a year on it and pay it off immediately.