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CreepingDeth · Jul 13, 2005, 07:31 PM

Okay, so my iPod is dead. It's shot. No firmware image, HD corruption, the works. I was thinking about buying a 60GB iPod. I don't have that kind of money, but is the Credit Account thing worth it? Even with the high APR, $15 a month won't kill me. Anyone know anything about it? what does it take to pay for it that way. Is there like a wait before you can buy stuff, etc.?

The Godfather · Jul 13, 2005, 07:39 PM

CreepingDeth · Jul 14, 2005, 09:37 AM

Anyone with brain cells have an answer?

Randman · Jul 14, 2005, 09:49 AM

Buying on credit is always a risk. You get the item now but you pay much more than the cost of it over the long run. If you can get a used one, I'd recommend that. Or save up.

ghporter · Jul 14, 2005, 09:59 AM

The best way to use Apple Credit-or any other credit for that matter-is to buy in advance of a large windfall, and pay off the balance immediately. It's useful for online purchases, but even the student credit option (where you pay only interest for two years) is a royal pain, and it still costs you a lot more.

I would investigate a signature loan from your friendly local bank or credit union (The Godfather's anti-credit union propaganda notwithstanding) long before depending on Apple Credit. You'll likely get a better interest rate, and you can usually walk into a bank or CU office and ask questions of a Real Live Person instead of using some 800 number and spending your life on hold. A much better deal all around in my opinion.

The Godfather · Jul 14, 2005, 06:10 PM

Originally Posted by ghporter

I would investigate a signature loan from your friendly local bank or credit union (The Godfather's anti-credit union propaganda notwithstanding) long before depending on Apple Credit.

The cartoon is pro-credit union. The character in the bottle is Usury and Loan Shark.

ghporter · Jul 14, 2005, 07:50 PM

Originally Posted by The Godfather

The cartoon is pro-credit union. The character in the bottle is Usury and Loan Shark.

My bad. There was a time in the late 40s or early 50s when the banking industry tried to kill credit unions. It didn't work, but it left a very bad taste in each side's collective mouths-and your picture looks like one I saw in a class about this. It's probable that the one I saw was a knockoff of your earlier cartoon.

stevesnj · Jul 14, 2005, 07:54 PM

Apple credit...LOL!! I did that and im paying 19.99% on my Rev A PowerBook...if I keep it up with minimum payments it will be payed off in 2015. I would save up put that iPod on e-bay(someone will buy it) and AVOID Apple Credit (aka MBNA the WORST EVER)

Agasthya · Jul 14, 2005, 07:56 PM

Apple doesn't use MBNA anymore. It goes through Juniper Credit but it is still a ripoff. I think the lowest rate is like 10%. Remember, it is just a MasterCard, not a special credit account or anything. I would only get it if you can pay it off in 90 days since there won't be interest for that time.

ghporter · Jul 14, 2005, 08:00 PM

A lot of companies are getting wise to MBNA and finding new lending partners. That's good for almost everyone. Juniper is so far not nearly as nasty as MBNA, nor as pushy and tenatious in going after you for another account. But it is STILL a bad idea to use credit (particularly at the rates you can get today) for buying a non-durable (like not a car or refrigerator) product unless you simply use the credit to buy online and pay it off immediately.

CreepingDeth · Jul 14, 2005, 08:33 PM

The interest on $400-$500 worth of iPod stuff wouldn't make it that bad, compared to buying a computer with a minimum of $100 or so each month.