 |
|
 |
 |
|
|
Forum
-> Household Management
-> Finances
|
amother
OP
|
 Tue, Mar 21 2023, 6:04 pm
|
I'm not great with money or numbers so please break this down slowly and clearly for me. What is the difference between buying something on my credit card or buying it with some stretched out payment plan like affirm? I don't have the large chunk available upfront but I can pay off my credit card from my paychecks over a few months. I am buying the product that's not the question. The question is which way makes more sense?
| |
|
| Back to top |
 0
 0
|
|
amother
Antiquewhite
|
Tue, Mar 21 2023, 6:09 pm
|
affirm is generally interest free so it's worth it in that sense
| |
|
| Back to top |
0
2
|
cookier
|
Tue, Mar 21 2023, 6:55 pm
| amother OP wrote: | | I'm not great with money or numbers so please break this down slowly and clearly for me. What is the difference between buying something on my credit card or buying it with some stretched out payment plan like affirm? I don't have the large chunk available upfront but I can pay off my credit card from my paychecks over a few months. I am buying the product that's not the question. The question is which way makes more sense? |
If you’re good about fully paying down your credit card, it depends which has a better interest rate or if you get any perks from your credit card. If you’re going to let it sit on your card and only make minimum payments, then affirm would be better even if the interest rate is higher because it forces you to pay it off faster.
| |
|
| Back to top |
0
0
|
|
amother
Oleander
|
Tue, Mar 21 2023, 6:58 pm
Affirm is interest free. I have it set to autopay so the installment is automatically taken out of my account each month. It’s great for big purchases.
Credit cards normally charge interest and I have my credit card bills set to be automatically paid in full each month. So it doesn’t help with spreading out the cost of something big.
It’s true that you don’t get points when you pay with affirm. But from my perspective you get an interest free loan for a few months. Depends which one is more important to you.
| |
|
| Back to top |
0
3
|
cookier
|
Tue, Mar 21 2023, 8:38 pm
| amother Oleander wrote: | Affirm is interest free. I have it set to autopay so the installment is automatically taken out of my account each month. It’s great for big purchases.
Credit cards normally charge interest and I have my credit card bills set to be automatically paid in full each month. So it doesn’t help with spreading out the cost of something big.
It’s true that you don’t get points when you pay with affirm. But from my perspective you get an interest free loan for a few months. Depends which one is more important to you. |
Affirm is only universally interest free with their pay in 4 plan. Monthly installment plans are 0-36% interest.
| |
|
| Back to top |
0
0
|
| Related Topics |
Replies |
Last Post |
|
|
Print bencher card
|
1 |
Sun, Apr 07 2024, 12:28 am  |
|
|
Why didn’t we get the child tax credit?
|
37 |
Thu, Apr 04 2024, 7:28 am |
|
|
PSA re credit cards
|
7 |
Wed, Apr 03 2024, 10:07 pm |
|
|
Tottini Credit
|
4 |
Thu, Mar 28 2024, 11:03 pm |
|
|
Disability debit card
|
1 |
Thu, Mar 28 2024, 10:28 am |
|
|
Imamother may earn commission when you use our links to make a purchase.
© 2024 Imamother.com - All rights reserved
|  |
 |
|
 |
|
|
