Cash or Credit?

posted 3 years ago in Rings
  • poll: Cash or Credit to buy an Ering?
    Cash : (94 votes)
    58 %
    Credit : (42 votes)
    26 %
    Other, explain : (25 votes)
    16 %
  • Post # 3
    Member
    13004 posts
    Honey Beekeeper
    • Wedding: June 2011

    Same as everything else.  We put everything on credit cards to get the points and paid off on next bill before any interest is charged.

    Post # 4
    Member
    1870 posts
    Buzzing bee
    • Wedding: April 2006

    We had saved for it, so thankfully we didn’t need to go into debt or use credit to buy my rings. We also got a 10% discount for paying the balance in full with cash right then and there so we went for that to save a bit more.

     

    Post # 6
    Member
    2675 posts
    Sugar bee
    • Wedding: May 2014 - Madison, WI

    We went through credit offered by the store – 36 months no interest. The timing wasn’t great for us with FI switching jobs and moving right around the same time we got engaged. But, he did not want to wait either. This should work out just fine. No issues in paying it off on time which means we won’t pay any more than the cost of the ring.

    Post # 7
    Member
    965 posts
    Busy bee
    • Wedding: January 2014

    He put it on a credit card, but he pays off his credit card every month. That way, he got the points and the reassurance of contesting the purchase with his credit card company had something gone wrong, but didn’t pay any interest.

     

    I don’t believe in credit card debt. If you don’t have the money, wait and buy it when you do, unless it is a true emergency (like food or medical expenses).

    ETA: Typos

    Post # 8
    Member
    1599 posts
    Bumble bee
    • Wedding: October 2013

    @pinkshoes:  yep this. DH split it onto two cards that give cashback, then paid it off with his bonus check at the end of the month.

     

    Post # 9
    Member
    3718 posts
    Sugar bee
    • Wedding: August 2013

    @pinkshoes:  that’s what DH did too. Credit for the points, paid it off immediately

    Post # 10
    Member
    6505 posts
    Bee Keeper
    • Wedding: June 2013

    DH put it on his card so he could get the points. However, we did have the cash to pay for it so the bill was paid off in full at the end of the period. However, he wouldn’t have used the credit card to purchase something he didn’t have the cash for.

    Post # 11
    Member
    561 posts
    Busy bee
    • Wedding: June 2014

    My boyfriend paid cash. He had $5000 saved, so he spent $5000. He told me that later on I can upgrade it if I want. You’re able to upgrade as long as the ring is double the amount, and there is the exact same ring, only twice the size so I might eventually upgrade but I’ll have to see.. I have tiny fingers so I have a feeling the one he picked will be perfect.

    Post # 12
    Member
    650 posts
    Busy bee
    • Wedding: June 2014 - EDD 06/12/2016

    @NYCkindaBee:  we actually did both. We paid half in cash and got the other half put on a credit card. We opened a credit card with Kay to do so and it is interest free for a year! I think this was the best option for us!

    Post # 13
    Member
    7997 posts
    Bumble Beekeeper
    • Wedding: December 2013

    We put everything on the credit card… we get good points. I wouldn’t make a big purchase without a credit card – you’re protected if something goes wrong.

    We don’t buy anything unless we can afford to pay it off that month, though.

    Post # 14
    Member
    7281 posts
    Busy Beekeeper
    • Wedding: October 2011 - Bed & Breakfast

    Cash. We just aren’t credit people.

    Post # 15
    Member
    905 posts
    Busy bee
    • Wedding: September 2015

    We went with the store’s credit, since it offered 12 months with no interest and my ring cost an amount that FI could easily cover in a year’s time.  Actually, his last payment is next week, so he finished up a month early!

    Post # 16
    Member
    845 posts
    Busy bee
    • Wedding: August 2015

    @NYCkindaBee:  My FI saved up for a while and paid in cash. I was very happy about this because I’m a strong believer in waiting until you can afford things to buy them, rather than using a credit card.

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