Amazon 24 Month Financing

[Anonymous]

I'm about to blow up my Amazon store card because I need to buy a TV and they're offering 24!!! month financing for my entire order!

24 months! That's so damn tempting!

Someone tell me not to do it!

[09Lexie]

I wish I could. Last month I opened a Sony cc to take advantage of their 36 mo 0%. I needed 2 tvs. 😔

[phillyguy12]

remember utilization is 30% of your score.....

[webhopper]

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@Anonymous wrote:

I'm about to blow up my Amazon store card because I need to buy a TV and they're offering 24!!! month financing for my entire order!

24 months! That's so damn tempting!

Someone tell me not to do it!

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Dont do it, the utilization on that card will be sky high... plus if you fail to pay it off by the end of the twenty four months then you'll be charged back interest.

In my opinion, don't blow up your cards because you "need" stuff for the new house... That is a pitfall that many new homeowners fall into.

just stop, save up, and buy when you can PIF using a rewards card

[SisterGirl]

Wow....

That's an amazing offer...., and you know we love ya, so........do it !

SisterGirl

[Anonymous]

I can buy it outright now actually. Have more than enough in savings to pay this off any time I want.

My amazon card would be at 75% util. Right now across all my cc's, I'm reported at 4% util (true util is likely around <2%).

Since I won't be looking for any new credit for 24+ months, is there much risk to committing to 24 month financing?

[boomhower]

I've never used a 24 month promo but I've used their 18 month promo on occation.  Yeah, you'll ding your score but that's a cost of using your good credit to save on interest.  As long as you can comfortably afford to pay it off before the promo ends you'll be fine.  If you have a hiccup the back interest on the card will kill you.

[daybreakgonesXe]

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@Anonymous wrote:

I can buy it outright now actually. Have more than enough in savings to pay this off any time I want.

My amazon card would be at 75% util. Right now across all my cc's, I'm reported at 4% util (true util is likely around <2%).

Since I won't be looking for any new credit for 24+ months, is there much risk to committing to 24 month financing?

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IF you don't plan on applying for any other credit, and your overall utilization isn't going to go above 30% (though this won't matter too much if you don't have any recent accounts with jumpy issuers, like Barclay's), then I say go for it!

[Scott90]

I say if you know you can afford the payment monthly and won't go past the promo period and get paid all the interest, then do it.

My girl and I just took advantage of the rooms to go anniversary sale. Got a entire living room set and dinner table for no interest until June of 2017. Payment breaks down to 33 a month... Lol. Will be paid off long before then though.

[Layered]

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@Anonymous wrote:

I'm about to blow up my Amazon store card because I need to buy a TV and they're offering 24!!! month financing for my entire order!

24 months! That's so damn tempting!

Someone tell me not to do it!

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Don't buy it unless you really need it now because they always have 6/12/24 months financing offers on big items. I got my Amazon store card more than 6 years ago and bought several $1k+ TVs over the years and every time I checked, Amazon had at least 12+ months financing offers on popular TVs. Just get the 24 months deal and pay twice the minimum payment every month.

EDIT: if you have enough money in your savings, I don't see the point in using this card. Why not use one of your rewards credit cards instead?