Question about picking up a 360

[Lintyfresh85]

Ok so I can't take it anymore... I want a 360.. I'm going to put it on credit card... the question is with getting a premium 360(does Live come with this) and SDvR... What would my minimum payments be for the card? Is there a standard rate for this type of thing?

Any help would be greatly appreciated!

[utexas]

Re: Question about picking up a 360

Don't charge it, it ain't worth it. Just save up and pay cash w/ a hard drive. You can probably find some used ones after the PS3 drops. Charging it and only making the minimum payments would have you paying over 2x what you would have to pay if you paid cash.

[triplej96]

Re: Question about picking up a 360

Minimum payments probally around 20 a month. Your intrest rate depends on your card. I bought mine on my credit card last year launch time haven't regreted the purchase at all.

[CM1847]

Re: Question about picking up a 360

Most cards have something like a $15 minimum charge, or something around 5-10% of your charges, whichever is higher.

The Premium package comes with one month free XBL and the headset. If you get the Core system you will have to buy the XBL kit with the headset(or the subscription + the headset). The other difference in the two is that Premium has a 12 GB HD and a wireless controller, the Core has no HD and a wired controller(Premium=$400, Core=$300).

I can never justify charging something in this price range, it isn't impossible to save up $500 to buy it at once, its not like a thousand dollar television or anything. But if you want to build some credit and saving up isn't an option, credit is your only other choice. Make sure to check your intrest rate if you do it though, the difference between a 10% rate and a 20% rate will be big in your total price.

[Lintyfresh85]

Re: Question about picking up a 360

well I just realized I have a xbox live account for regular xbox so that's a plus...

And I wouldn't mind paying with credit because I have none! And I think this may be a good way to build it up.

[Scottdau]

Re: Question about picking up a 360

well I just realized I have a xbox live account for regular xbox so that's a plus...

And I wouldn't mind paying with credit because I have none! And I think this may be a good way to build it up.

It will be good way. If you want to build up your credit history, just make sure you play it regularly. Debt and not paying it on time will kill your credit rating.

[Lintyfresh85]

Re: Question about picking up a 360

so what exactly am I looking at money wise?

400+ for a premium system
+
60+ for one video game?

so expect to pay 500 dollars or so?

[CM1847]

Re: Question about picking up a 360

Add in $50 for a year of XBL if you are interested in online play. With the wireless controller it is probably a good idea to invest in one of the charging kits which are $20.

At the very least it will be right around $500 after tax, you will be over $550 if you want to play online for a year and get a charge kit for your wireless controller.

[pk500]

Re: Question about picking up a 360

If you don't have the full cash in hand or by the end of your first credit card statement, it's insane to buy it with a credit card. You're just giving money away to the bank.

If you make minimum payments, your 360 probably will end up costing you $800-$1,000 after all the interest you pay. That's nuts.

Save your money, pay cash. Or if you want a great start for your credit history, buy it on credit and pay it in full at the end of the first month.

Take care,
PK

[TopDog]

Re: Question about picking up a 360

I'd add another 50 bucks as well for a replacement plan or extended warranty (depending on where you buy from).

[Skyboxer]

Re: Question about picking up a 360

so what exactly am I looking at money wise?

400+ for a premium system
+
60+ for one video game?

so expect to pay 500 dollars or so?

IMO: Get the game informer card at Gamestop/EB. Then buy used games. They are guaranteed and you have 7 days to bring them back for a full refund. + with the game informer card you get 10% off. (And mag)

I always buy used if I can. The security knowing I can get a full refund if I don't like the game is worth it.

[jdros13]

Re: Question about picking up a 360

If you don't have the full cash in hand or by the end of your first credit card statement, it's insane to buy it with a credit card. You're just giving money away to the bank.

If you make minimum payments, your 360 probably will end up costing you $800-$1,000 after all the interest you pay. That's nuts.

Save your money, pay cash. Or if you want a great start for your credit history, buy it on credit and pay it in full at the end of the first month.

Take care,
PK

What he said....although I will add that if you can get a credit card at Best Buy for example, they often run deals with no interest for an extended period (and most big purchases qualify for no interest for 90 days)...then you can set a monthly budget for your purchase and pay it off before the interest kicks in.

Paying the minimum payment and tacking on the interest (probably at a rate of 18-20% or more for someone without existing credit) is extremely irresponsible, and is how many people get in financial trouble down the line.

[jdros13]

Re: Question about picking up a 360

IMO: Get the game informer card at Gamestop/EB. Then buy used games. They are guaranteed and you have 7 days to bring them back for a full refund. + with the game informer card you get 10% off. (And mag)

I always buy used if I can. The security knowing I can get a full refund if I don't like the game is worth it.

My local eb games actually gives me 14 days (store policy I guess), and frankly it allows me to play through some games without paying for them...works for me!

[utexas]

Re: Question about picking up a 360

you are looking at about $600 bucks when you throw in a game or 2, controller, extended warranty, etc. Chargung $600 bucks paying the minimum payment of 15 or 20 bucks, plus this is probably your first credit card so the interest is closer to 19%-25% you will end up paying for 2 360's for the one you have. If I could go back and do college all over again, I would have listened more to my parents about credit and credit history. $600 bucks is possible to save up for and you will feel much better. If you want to build your credit, fill up your gas tank and pay it off completly when you get the credit card bill.

[chippered]

Re: Question about picking up a 360

I agree with the thought of saving for it. Think of the stuff you could buy with the interest your paying.