starting out... credit card to buy a TV and laptop?

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dctravis
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starting out... credit card to buy a TV and laptop?

Postby dctravis » Mon Jul 26, 2010 8:34 pm

Hey guys first off i wanted to thank this site and all the people who are active for all the great information. I spent about 2-3 hours just reading through different topics just trying to gain information and there was plenty to choose from. I believe i already know the answer to my question, but figure that it cannot hurt to ask but only help even if it just tells me that my assumptions are correct.

I am 19 years old and will be 20 in November, I currently work at a walmart in Illinois making about 1100 a month part time, and am currently looking for a second part time if not full-time job. I am going into the United Stated Navy on December 14th 2010. I have had a cell phone since about march (verizon, roughly 80/month) a bank account with woodforest bank (walmart bank) since about march as well and that is about the extent of my credit. I currently only have very minor bills as I am staying with my parents and sharing my sisters car. My bills include food (100-150/month), gas (50-75/month) and that is all of the necessities. I have a working pc along with other things to entertain myself while I am waiting the last 5 out of 9 months to go to boot camp, but recently I have been wanting to try and get a good tv that will last me a good amount of time. you may be asking why i would want a new tv right before going into the navy. Well the answer is I have 5 months left to go, then after completing the 9 week boot camp I will be in my A school and Nuclear Power School in Charlston South Carolina for two and a half years... I was hoping to get something that will still be current tech then and keep me content so as not to motivate me to buy another tv within such a short amount of time. The Television that I am currently looking at has some of the best features, best in quality, and has some of the best reviews from what I can see. It is the LG INFINIA 47LX9500 which I saw on sale at bestbuy for about $3800 and would probably be close to 4500 after tax and 4 year extended warranty. I already have 800 dollars that I have saved from my last month's pay and figure that If I were to set aside 800 dollars from the next five months I would be able to afford it. To get to the point here, my question is whether or not I would possibly qualify for any credit cards that would give me the ability to own and use the TV while I am still waiting the 5 months. From what I have read and from what little credit I currently have I would assume no. I was curious as to whether or not a family member cosigning would make any type of difference or if it would be a battle that cannot be won.

I apologize if this was to long or overly lengthy. I realize that this is not a need and is purely a want that I can easily live without thus it will obviously not kill me if the answer is no. However if it is possible please let me know what you think. Also if it is possible I would hope for some type of 6 months 0%APR, but with my credit I am willing to pay a little bit of interest to get it early and possibly build my credit at the same time.

Also you may think this is way to extravagant, but I do actually have a reason for wanting this specific TV. I tend to only sleep a few hours every other day and spend most of my time either on the computer or watching movies and different things like that. I cannot watch an LCD display normally because of the response time as the blur just annoys me and ruins everything. I apologize if I bother anyone with my post, I just figure that this is something that I will use very often, and thus I want to make a purchase once and have something that will be good for at least 5 years.

Also I hope to get a laptop after getting through boot camp and I figure with the specs I have seen and pricing it will most likely run about two maybe even three thousand and I would like to use a credit card for that as well to build my credit. If I can do nothing now, what are the steps that i can take to building my credit now so that i can possibly do that in the future. I am leaning towards a secure credit card and just buying my gas and food with it. Thank you again for taking the time to read this.


DoingHomework
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Postby DoingHomework » Wed Aug 04, 2010 6:18 pm

Don't spend $4500 on a TV.
Don't buy extended warranties
Don't go into debt for a TV.

As for what you are saying about not being able to watch an LCD, that is crap. If you get a good quality (Sony) LCD TV with fast response you will spend about $1000 for a 46 inch. If that is not good enough for you then there really is no hope.

If you will be in Navy schools for the next few years I hope you realize that you are not going to have a lot of time to lay around and watch TV!

My advice is to save your money until after boot camp and after you have been in your Navy school for 3 months. If you still want the TV you will have the money. This will also help you avoid damaging the TV as you move around the country to different stations for teh first few months.

You should only buy things on a credit card if you have the cash to pay off the bill every month..

dctravis
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Postby dctravis » Sun Aug 08, 2010 6:22 am

Yeah, thanks for the reply. I'll admit I go a bit nuts sometimes with the electronics i try and get. I will listen to your good advice and wait, and yes I will not be getting the lg, perhaps a samsung. thanks for the response, I tend to not think when I see something. I normally dont go through with it anyway but i was just curious as to what the responses might be.

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Mogul of Pineapples
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Postby Mogul of Pineapples » Tue Aug 10, 2010 5:30 pm

The other thing to consider is that TV technology is evolving so fast it really not worth buying a top of the line model now that will be outdated in a couple years. My Samsung I bought two years ago next month was top of the line at the time and today it's practically an antique compared to what's on the market. In another two or three years the top of the line models will be LEDs with 3D and ultra thin. Now that will cost you $4500 but those will be under a $1000 in the not so distant future. I would hold off. Buy a relatively cheap TV (under $1,000) if you're going to buy one now. And of course don't forget to charge it to a cash back credit card so you can get a few bucks rebated, ha!
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

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