Debt free hopefully means free from needing credit. However I know what you mean. I used to have an 800-815 credit score. Now I have no mortgage nor even a car loan. Cancelled my one credit card over a year ago. Just checked my credit recently and it’s down to like 700. Probably have a hard time even getting a card now. lol. Oh well f$$& them I like having no debt.
But paying interest on the other man's money is a losing proposition. Now if you are paying 3% and earning 6%, now that's a deal.
That is what I do. All my business expenses for the month are paid in full each month and my wife gets the rewards points. Amazon cards, regular gift cards etc. that she gets to use for whatever she likes. Win-Win!
I went most of my life with no debt and no credit cards and when I finally bought my first new car about 10 years ago the dealership was extremely reluctant to finance me. The salesman said something like, "you don't have bad credit, but it's like you've been in the witness protection program or something." When I bought my last car I had that 800+ credit rating and they couldn't wait to finance me. They were just handing me the keys and telling me to drive it home.
I just went to Utah airgun site, "added a krait bottle 22 cal in the cart" , went to check out, below the order you have choice of credova and paypal. We now know credova sucks, and I have explained paypal restrictions/ conditions with their credit. Hopefully it helps you in your decision.
I've always been one to try and avoid debt and to pay it off as quickly as possible, but if you figure that the real rate of inflation is probably running at 6% or more, being able to finance something interest free or at a very low rate is really just another discount. I haven't paid off my car yet because the interest rate on it is 0.9%, so I'm essentially saving money every month I don't pay it off. The thing on Credova seems to be that the 0% interest period only lasts a few weeks, so not enough time to realize any significant savings due to inflation.
Interest free is always the way to go. However, don't let interest rate credit be the determining Factor on what you pay for a gun. Buy a good gun and you don't have to spend $3,000 do it. you don't have to spend $2,000 do it
I didn't take the time to read all the disclosures, but I thought the advertising mentioned a 90-day interest free period. If it's only a few weeks, then you might be better off using another credit card.
This is what I copied from their FAQ
The credit scoring business is mysterious. There is a lot of history and statistical analysis behind it, and it is a valid tool for consumer lenders. I'm a retired banker, and although I never worked in the consumer lending area, I attended various meetings in which it was discussed. I remember a couple of speakers who were very experienced in the business, and they claimed that the credit score, although maybe imperfect, was far and away the most accurate indicator of future payment performance. To the point above, I once received an email notice from my bank that my credit score had dropped. I pulled it up, and the score was 830. I had recently charged about $15K for some kitchen counter work to a credit card. I paid it off with the next bill, and a week or so later I got another notice that my score had increased. So apparently heavy use and prompt payment are used virtually real time to update scores.
