Buying a Mac Book Pro with a credit card?

Question

I was wondering if anyone has bought a mac book pro (the cheapest model) with a credit card.. and if you have, how much is your monthly payment..

I'm considering purchasing one in a month and I want to be secure in knowing that I can pay the credit card balance

Answer 1

That depends on your interest rate.

That can be over 21% in which case the Mac Book can cost you 2 times as much over the life of the loan if you pay only the minimun.

Using your 15.99% and 12 months it will be $9.07 per month for every $100 borrowed. The means a $2,000 loan will cost you $181.45 per month.

Stretch it out to 2 years at the same interest rate  and the loan will cost you $4.90 per month for each $100 borrowed or $97.92 per month. (based on $2,000)

Take 3 years at 15.99% and the loan will cost you $3.52 per month for each $100 borrowed or $70.30 per month. (based on $2,000)

Total payback on a $2,000 purchase @ 15.99%

1 year      $2,177.40

2 Years    $2,350.08

3 Years    $2,530.80

50 Month =  4 years 2 months

$2000 = Monthly payment of $55.05

Total payback = $2752,50

-tcw

Answer 2

I worked for a credit card company. For most cards you divide the total amount by 50.

Answer 3

Don't use a credit card for the repayments as their interest rates are very expensive compared to getting a bank loan.

Still buy it on a credit card so that you get the protection - just pay it off straight away.

Answer 4

I have bought a $3000 macbook pro with a credit card IN FULL

One time payment. I would say it was a so-so investment since Apple rolled out a new model in 3 months...