[Brock]

asking about what CC offers may be available for a large purchase. I’m curious if you were able to get 0% financing for a large purchase for 12 months how people view that versus using a CC to get rewards?

(Assume the CC was accepted for the purchase/service)

[Ernest]

Seems to be two different sets of folks. Folks that want $0 interest for a year – can’t afford to pay for the whole thing.

The other group is for folks that can afford to pay for the whole thing – but taking advantage of CC points/rewards/sign up bonus.

[Bill]

Just by the math, you can get about 4% in a Hysa right now, so that’s the benchmark on points vs a 0% loan.

You should be able to smash a 4% rate with a signup bonus, or multiple signup bonuses if it’s a really big purchase.

[Connie]

I just opened Chase ink cash business card and saw it was 12 months no interest. Didn’t open for that reason because I usually pay off my cards in full each month.

But nice plus just in case I want to pay off expenses at a later date once I meet my SUB.

[Barbara]

Assuming I had the cash on hand to pay for the purchase immediately, I would absolutely rather get CC points – or preferably a new sign up bonus

[Jasmine]

I use credit cards for points and other benefits (e.g. purchase protection, extended warranty, etc).

I never use them as a line of credit, only as a form of payment, so I always pay all cards in full before the due date.

I never ever want to carry any credit card debt, regardless of the rate, even if it’s zero.

[Megan]

I would do 0% APR on a CC, preferably a business card to avoid reporting to personal credit.

[Cheryl]

I would only use a card for rewards if I could pay it off by the statement date.

Otherwise, you’re just paying for the points.

[Stacy]

I opened a Chase Ink Unlimited with 0% for 12 months and got a SUB when I purchased a used car for $9k. Dealership did not charge a fee or increase vehicle price.

It allowed me to be the bank for my daughter and spread her payments over 12 months.

[Author]

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