Spending - Best Option?

harri2000

I am currently considering purchasing a new PC and have set myself a limit of £800. What I would like to know is what my best repayment option would be? Do I go with one of the options that a firm like PC World or Comet offer with a high APR and pay even more over the odds for a mid spec computer, or pay on my existing credit card with a firm that doesn't offer other repayment options for a much better spec PC, and then swap onto 0% balance transfer card to repay? I just need setting straight.

Thank you in advance for any reply.

emma396

do u have the £800 to buy the pc with now? if u do, get a cashback card and u earn money. if you don't have the £800, how long do u think it'll take u to have the £800? i'd get a 0% on purchases card. hsbc and halifax have 0% on purchases for 12 months. pay off however much u can each month and at the end if u still owe money, transfer it to a 0% BT card. i wouldn't recommend pc world or comets payment plans.

CLAPTON

why do you want/need to spend 800 on a PC.. do you already have one..why not save up for it ?

harri2000

After months of saving I did in fact have the money for a new PC as mine is now 8 years old and on it's last legs (making as much noise as the washing machine) and I am now well overdue a new one. However last month my car decided to blow a head gasket,:mad: and with Tax & MOT due next month, you in the motoring world will confirm that I can 'say goodbye to new PC'. And yes I have upgraded my PC constantly in the past, but I really can't start putting a Porche engine into a Morris Minor and still expect the same result.

So I did save for it, as that is what I would normally do being a responsible spender. I am only asking advice because I do not understand credit systems, not because I'm stupid, but because I don't use them, and like to keep debt to an absolute minimum. So this is a last resort without being desperate, it is a debt that I can pay off, but would love to spread the cost rather than leave myself out of pocket too much in the short term.

Thank you again.

CLAPTON

first thing is how long do you need to borrow because this affects which way you go.
e.g. if you only need to borrow for say 3 months then
a CC or Store card at 25%APR will cost you £33 interest
whereas a 0% CC requiring a 3% BT fee will cost you £24... not a great deal of difference
However if over a year the figures would be £112 in interest or just the 24 BT fee... quite a difference.

Chris2000

I wouldn't recommend PC World's overpriced PC's or payment plans.

If you want a decent modern PC but don't need a superfast games machine then you don't need to spend anywhere near £800. I have been using a £300 Acer for the last 6 months and I can't recommend it enough for general home use:
http://www.ebuyer.com/UK/product/123119/rb/0

Doesn't include a monitor or speakers at that price but you have those already and can always upgrade your monitor later.

bristol_pilot

A card that offers 0% on purchases over 12 months should do the trick. I think Halifax is offereing one at the moment. Pay the minimum payment for 11 months and in the meantime save up to pay off the final balance.