phillybhatesme
Well-known member
Save me a click/watch. What is this about now?
Alpha Stryke
Well-known member
You'll have to feed yer own head man.
napalmdeath
Well-known member
He's right about the pay later credit card. I've avoided getting their credit card for several reasons. These 2, for starters.
1. If you get a $5,000 limit, and buy a $2500 guitar, you ding your credit with 50% credit utilization right off the bat, or worse, get a $5,000 limit to buy a $5,00 guitar = 100% credit utilization - NOT SMART. But, they push you to get it, assuming you're dumb, and many are, (including those pushing it who likely don't understand credit utilization).
2. Synchrony is a predatory lender, banking on the fact that you don't pay it off in 48 months to avoid the interest. Many do, many don't. And the ones who don't get tagged with that high-ass interest, (as much as 34.99%), retroactive to the initial $2500. Your $200 balance turns into nearly $1100, and continues to snowball monthly as long as you carry a balance. And many times, the payments they lay out, and the number of payments, purposely has you come up short, (if you're making the minimum payment).
I'm sure some out there are using it, and pay things off with no problems. Now, I do have a Synchrony Paypal credit account, but I made small purchases and established an excellent pay history, and grew my limit to $10,000. I keep my purchases well under 30% utilization at any given time, and get 6 months zero interest on all purchases and make big chunk payments monthly and pay shit off quick.
1. If you get a $5,000 limit, and buy a $2500 guitar, you ding your credit with 50% credit utilization right off the bat, or worse, get a $5,000 limit to buy a $5,00 guitar = 100% credit utilization - NOT SMART. But, they push you to get it, assuming you're dumb, and many are, (including those pushing it who likely don't understand credit utilization).
2. Synchrony is a predatory lender, banking on the fact that you don't pay it off in 48 months to avoid the interest. Many do, many don't. And the ones who don't get tagged with that high-ass interest, (as much as 34.99%), retroactive to the initial $2500. Your $200 balance turns into nearly $1100, and continues to snowball monthly as long as you carry a balance. And many times, the payments they lay out, and the number of payments, purposely has you come up short, (if you're making the minimum payment).
I'm sure some out there are using it, and pay things off with no problems. Now, I do have a Synchrony Paypal credit account, but I made small purchases and established an excellent pay history, and grew my limit to $10,000. I keep my purchases well under 30% utilization at any given time, and get 6 months zero interest on all purchases and make big chunk payments monthly and pay shit off quick.
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Alpha Stryke
Well-known member
AMS approved me "rock star status" b/c i have excellent credit w/ no credit check [but they do lol] no interest.
WITH MY OWN FINANCES.
WITH MY OWN FINANCES.
Rick Lee
Well-known member
That's not how it works unless the Gear Card is your only line of credit. And who the hell fits that description? Just a month ago I impulse bought a Les Paul at the GC for $2100 out the door, used my Gear Card. My limit on the card is $10k, so I've used 21% of it. It comes with two year promo financing. I just set up autopay for $100/mo. If I sell another guitar before then, I'll probably just pay off the card. But leaving it as is, it will be paid off before any interest hits and a few mos. early. If you can't afford to set up autopay and not even notice the payments, then you shouldn't use a card like this. I've had one of these cards since about 1990 and never paid a dime in interest. How are they predatory? They didn't come after me and make me sign up for anything. They didn't charge a different price depending on my payment method.
napalmdeath
Well-known member
Yeah, I like their financing with either no credit check, or even if they do, it's one ding for a hard inquiry and they don't report the loan.
If you're doing 12 payments, you're getting a credit check, rockstar or not. I go for the no credit checks and the big chunk down options with lower payments. I just wish they'd still be tax-free, like the old days. It sucked when they all started collecting sales tax!
shredi knight
Well-known member
Alpha Stryke
Well-known member
I live in a red state and they're the one's that put a 10% internet sales tax on every purchase.
Who's tax & spend nao ?
Same guy's trying to repeal state income taxes & replace w/ more sales tax WTF ?
napalmdeath
Well-known member
Yeah, I'm in Florida, about as red as it gets. The Supreme Court technically ruled on it in 2018, and Florida enacted it in 2021. Technically, local businesses were losing revenue from people buying elsewhere to avoid paying tax. This was the argument for the entire U.S.
I still get around it buying from a few mom & pops online that don't meet the sales threshold to collect tax from time to time.
skoora
Well-known member
That’s pretty much what I’ve done for years. Almost every piece of gear I have was through a no interest promo, used or new.
Just need to not go crazy and realize 6 months (used gear) is over quicker than you think on calculating what’s comfortable for a monthly autopay.
Alpha Stryke
Well-known member
Thats how internet tax started here if you bought anything outside the state as a resident the theory was you were "taking away" in-state
brick n motar sales.
Somewhere a few year later they said "we just gonna Fuck everybody".
I pay a tax on our cars just to sit in the drivway, we paid stat sales tax when we bought them. We pay taxes on insurance & licenesing.
My city has a "city earnings tax" they figure if you live here you use the roads n services so you gotta pay for that even tho you already do.
My wife's company is east coast yet she has to pay CET cuz she lives here.
State / Federal taxes. We havent had a "tax refund" since Fed 2016 tax cuts.
40%+ price increases last 2 years. I don't consider this shit "the greatest country in the world" type shit.
Then when the next guy comes in he / she has to try & fix this shit.
Floyd Eye
Well-known member
You’re so fucking full of shit Dan. The only fucking way your federal taxes went up after 2016 is if you made 400k or more. And you didn’t.
Besides living here so I know when you’re fucking lying about gas prices, my wife is a CPA and I know you’re lying about your taxes.
Oh and then there’s this. Has nothing to do with red states and if you made enough money that the new, now doubled, standard deduction was less than your itemized deductions ( you don’t) you could file long form and write off internet taxes.
https://worldpopulationreview.com/state-rankings/internet-sales-tax-by-state
Floyd Eye
Well-known member
But bitching about STL earnings tax and trying to blame it on Red anything is golden. 
Bloodrock
Well-known member
Everything is pretty much a scam nowdays isn't it?
stratjacket
Well-known member
If I find something on Reverb and see it’s a mom & pop shop, I think it’s always better to contact them directly and buy over the phone to avoid taxes and get a better deal than listed.
napalmdeath
Well-known member
They're predatory in that they're after the people that DON'T pay it off in the stated period. Sure, like I said, many pay it off - If everybody paid it off and avoided the interest, how would they stay in business? Interest is their cash flow, along with fees they collect from GC to partner with them.
And as far as credit utilization, every card you have reports utilization, whether you have 1 or 5 or 10. You could have a zero balance on all of those cards, but if you use $5000 on one $10,000 card you'll get dinged, even though the other cards with no balance brings your overall utilization down. Not sure what world you're living in? We're not talking a 100 point ding here, but you might see your credit drop 10-15 points because of that one card and using 50% of your line. I guarantee your credit dipped a few points at 21% on that single card, regardless of how many cards you have. Just because it's recommended to keep it under 30% doesn't mean you won't see dips at 21%.
SgtThump
Real OG
I love the GC card. I buy something with it, pay it off immediately, then get the rewards 1-2 months later.
I’m sitting on $210 worth of rewards right now. Totally free money.
I’m sitting on $210 worth of rewards right now. Totally free money.
NeubyWanKaneuby
Well-known member
This is why I like the GC card.
