When you are thinking about buying a computer with a credit card, then there are a few things you need to know before you make your decision. Computers are a major purchase and should be a done with a credit card that will make it a better deal.
Manufacturer Credit Cards
Many computer companies will offer their own line of credit on their own card. Interest may be lower than a traditional credit card, and it may offer special incentives such as points toward future purchases, discounts on accessories, or special introductory rates. Some manufacturers offer no interest if paid off within a certain time frame.
Often this type of credit card can be applied for at the same time as purchasing the computer. The extended warranty or service contract may also be better with the manufacturer’s credit card. Be sure to compare offers and services between computer manufacturers as this can influence your buying decision.
Computer manufacturer credit cards typically allow only purchases of their own merchandise, and cannot be used for outside items. The payments are also often set lower than a regular credit card, allowing you to spread out the amount longer if necessary.
Introductory rates
Some credit cards will offer low introductory rates for applying, many of them at 0% for a period of time. Look into which card will provide the best offer for an introductory rate and apply before making your computer purchase. This will save money over the long run if you pay it off during the time frame. Some cards that offer low introductory rates:
- Citibank Clear Platinum Visa
- HSBC Credit Card
- St. Georges Vertigo Credit Card
- Aussie MasterCard
Some cards do not provide immediate approval upon application, so be certain to give yourself some lead time before purchasing the computer. The other alternative is to do a balance transfer to a card with a low rate after the purchase is complete. If you transfer a balance, be sure to check that it does not nullify any service contracts you may have set up.
Points
For larger purchases such as a computer, it is a good idea to consider a credit card that rewards points for purchases. The points are then redeemed for cash back, gift cards for particular stores, items, or travel miles. For frequent hotel and airline users, points or miles can add up quickly when buying a computer system, often resulting in free travel options.
Watch out for annual fees on credit cards, particularly if you intend to use the card for a one time purchase. If you pay the computer off within a certain time frame to prevent interest, you don’t want to be surprised by a annual fee when you were not expecting it.
When purchasing a computer, take the time to research all the possibilities to make sure you get the best deal for your credit card. You can save money and potential problems based upon the criteria of your card. Be sure to compare all the benefits of each card before making that large computer purchase.
