In a message dated 10/26/2006 21:47:31 GMT Standard Time,
[EMAIL PROTECTED] writes:
I applied and got 800 but how am i supposed to get a good laptop for
that? I wanted to finace it and i have no idea if thats a credit card
i just got. It said e financing. It a hsbc card i think. I have no
idea
HP Home & Home Office Store e-financing center
Instant online financing, easy low monthly payments, secure
information and privacy
It says its a credit card arranged in association with HSBC Nevada.
The interest rate looks high "Variable Standard Rate APR: 22.65% as of
09/15/06. Variable Default Rate APR: 25.65% as of 09/15/06", as you would
expect
of a credit card. It does not demonstrate how much you would pay in total
over various repayment periods (e.g. one year, two year, three or more years.
Nor does it say how long it would take, and how much you would pay in total,
if you only made the minimum monthly repayment. A long time and a lot of
money I should imagine.
Whilst I am not an expert on consumer credit in the USA, or anywhere else
for that matter, I would sincerely suggest that you investigate alternative
methods of funding your purchase. Personal loans from a bank etc. must be
considerably cheaper. Plus the danger with a credit card is you can make
additional purchases and end up never paying off the debt. Additionally your
laptop
may need replacing before its even paid for.
Also someone in the Chad Group said of the Dell credit "Dell's interest
rate is apx 30% give or take a point or two. And since your
credit limit is $1,500 I would say you are paying right at 30%. Nothing
against your credit. So doing the math, if it takes 20 years to pay off a
credit card at minumn payment you would end up paying $10,500 for the
computer. Of course after 4 years you will need another one, so for the next
16 years you will be paying for nothing. You are out $10,500 for a $500
computer."
Paris
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