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Old December 10th, 2005, 09:18 PM   #1
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B&H's No Payments For 90 Days?

Am I reading this correctly? I can order my FX1 TODAY and not have to pay anything until like March? And then if I wait until March, I still only have to pay the $3150 (plus shipping)? That seems almost too good to be true! Am I not understanding something? Is there some hidden fee or extra interest even if I pay before the 90 days are up? If someone has used this yet let me know...I'll order my FX1 tonight if what I think is correct...
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Old December 10th, 2005, 10:05 PM   #2
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Read the terms carefully. I just looked at them quickly. It appears that you may indeed defer payment for up to 90 days. But if you don't pay within 90 days then a finance charge of $141 will immediately be due (for 3 months interest at 18% APR). Then each month you would be charged 1.5% interest on your remaining balance.

This isn't a bad deal at all IMO... if you have the means and discipline to pay the camera off in full within 3 months. If not, then I suppose it's no worse (probably better) than most credit cards. But read all the terms and conditions carefully yourself before pulling the trigger.

I would not let this serve as an encouragement to buy something which you really can't afford. Very easy to dig a deep hole that way...
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Old December 10th, 2005, 10:11 PM   #3
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Just putting my input in here...

I too got excited about this deal only to find out my "fair" (679 point) credit was insufficient. So a lot depends on your credit score as well.
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Old December 10th, 2005, 10:23 PM   #4
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I could buy my FX1 outright, but was going to wait a couple of paychecks to actually pick it up. It looked like your credit score wasn't looked at...I'm only 19 so I don't have much on my credit history, but I haven't missed payments on anything, so I hope it will let me go through. I'll probably wait until the weekend to order...
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Old December 10th, 2005, 10:27 PM   #5
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19 here as well...

Let me know how it goes because then I gotta see why my order is not being accepted.
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Old December 11th, 2005, 09:38 AM   #6
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Sorry to sound like an "old fart," but guys, at the age of 19 you really should not be buying an expensive camera like that unless you can pay cash. Don't start a habit of buying things that are more expensive than you can afford. Get a part time job and put some extra money away. Or maybe see if a family member will make an informal loan? Don't become another statistic amongst the millions of Americans that are way over their heads in debt.

Of course they are going to check your credit! It merely says you don't have to be approved before checking out while shopping. You can be sure they aren't going to send you a camera until they've decided whether you're a good credit risk. At 19 years old I'd be very surprised if you can take advantage of this offer, simply because you won't have enough credit history. See the terms and conditions:

Quote:
Lender may obtain a report from a consumer credit reporting agency in connection with this application and/or for any updates, renewals, extensions of credit on this Account or collection of any loan made as a result of the application.
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Old December 11th, 2005, 09:42 AM   #7
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Quote:
Originally Posted by Boyd Ostroff
Sorry to sound like an "old fart," but guys, at the age of 19 you really should not be buying an expensive camera like that unless you can pay cash. Don't start a habit of buying things that are more expensive than you can afford.
APPLAUSE!!!!


Besides, if you are tight on the cash, spend it on the movie you are making, not on the camera you shoot it with.
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Old December 12th, 2005, 10:09 AM   #8
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Better than nothing

This is a very good way to buy a camcorder now if you donít have enough money. The only problem is that they are being very cheep about it. There are a lot of stores that offer zero interests for 1 year such as Best Buy. Believe it or not, they could actually make more money with this deal than none at all. Because most people wouldnít be able to pay it off in 3 months. Just like someone mentioned earlier the interest will start charging you the first 3 months if it arenít paid in full by then. I say go for it if you can pay it off in tree months. I am planning on doing the same thing with the Quad G5 Mac, but Apple only offers 3 months as well.
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Old December 19th, 2005, 03:38 PM   #9
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Quote:
Originally Posted by Zeno Perez
Just putting my input in here...

I too got excited about this deal only to find out my "fair" (679 point) credit was insufficient. So a lot depends on your credit score as well.
LOL but you could buy a 350,000 home with less hassle go figure.
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Old December 26th, 2005, 05:49 AM   #10
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The smartest thing is not to buy it unless you can afford to pay for it. Then take advantage of the "no payments, no interest until ..." offer to buy the gear. Take the cash you WOULD have paid and put it into a savings account until the day before the purchase free period ends, then pay it off in one lump.
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