Introduction
I’m always looking for ways to stretch my dollar and save money. The best way to do this is by using a credit card. The store gives you points or miles based on your purchase amount when you use a credit card. These points can be used toward gift certificates or merchandise in that store! This can help save even more money on future purchases… but only if it’s legit! With that in mind, here are some scenarios we’ve run into where we’ve been asked about whether or not buying an item on sale and then paying for it over time with a credit card is OK:
- Take the item home, pay for it in full with your credit card and then go into debt on your card.
You can use your credit card to buy anything you want if you can afford to pay off the monthly balance. The only thing that will prevent a credit card purchase is if the merchant doesn’t accept credit cards, like at some brick-and-mortar stores or certain online shops.
The same goes for buying things on sale: If there is an item you want and it’s on sale at a store or online, then go ahead and buy it with your credit card. If an item is on sale and you need cash in hand, take advantage of this opportunity by using your convenient plastic instead of paying full price!
- You can only buy items with a credit card over $25.
No, you can’t. Credit card companies don’t want to encourage people to buy things on sale. They want you to make full payments and pay more than the item costs. This is because they make tons of money off interest charges when you don’t pay your balance in full each month.
- You can only buy used items on sale with a credit card.
You act like a bank when you use a credit card to buy an item. You are lending to the store or seller, and they are paying you back in monthly installments. The term “carrying a balance” refers to making payments on your debt. If you pay off your debt in full by the end of each month or if your payments are different each month, then interest will build up (like with any other loan).
There are some exceptions here: If there’s something great on clearance at Target or Best Buy and they’ll give it to me if I sign up for their store card (and I don’t know what that means), then I could use my credit card instead of using cash from my wallet. However, the only time it’s appropriate for someone with limited financial resources like me is when that item isn’t sold anywhere else—otherwise, make sure you have enough cash!
Yes, but you have to pay off the purchase in full before using the card again.
You can buy an item on sale and pay for it over time with a credit card. However, you have to pay off the purchase in full before using the card again. If you don’t, your interest rate will increase, which means that more money will pay monthly interest than using up what you owe.
So, let’s say you want to buy a pair of shoes on sale at a department store for $50, but they need to be added to your credit card rewards list. You can use your credit card as long as they’re over $25 because anything below that would be considered a cash advance instead of purchasing something with rewards points (which is not good).
Yes, if you first buy a gift card from the store where you’re making your purchase, then use the gift card to pay for it.
You can use a credit card to buy an item on sale and pay for it over time, but you first need to purchase a gift card from the store where you’re making your purchase. Then, when paying with your credit card, use this gift card instead of cash or another form of payment. The process will look like this:
- Go to the store where you want to make a purchase
- Buy a gift card from that store
- Pay for the item with said gift card
You can use your credit card to purchase it if it’s legit.
If you’ve got a credit card, and if it’s legit, you can use your credit card to purchase something. You need to pay off the entire purchase before you can buy anything else (otherwise, you will get into debt). You also cannot use a credit card to buy things on sale. Finally, it’s important to only spend money on things that are necessary with your credit cards. If they’re not an emergency or necessary item, paying for them over time is probably not worth it!
Conclusion
Is it worth it? Sure, if you can pay off your purchase before interest kicks in. Otherwise, you’ll end up paying more than the item is worth.