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sweetwater 36 months no interest?
Old 23rd February 2017
  #1
Lives for gear
 
🎧 15 years
sweetwater 36 months no interest?

Hey fellas pulled the trigger and applied for the sweetwater card. Really wanted to get a Burl B2 bomber and thought this was a great way without paying for it in full. I got approved for $4500 which I think is terrible considering this card is at 29% if not payed in full. now buying this B2 bomber will put me in 50% of my credit utilization ratio cause its $2349. Just venting guys these people should offer more of a limit to make it worth it. Any of you have this card?
Old 23rd February 2017
  #2
Gear Guru
 
Drumsound's Avatar
 
🎧 20 years
If you haven't done the math, and are worried that you'll not make the payment, don't make the purchase.
Old 23rd February 2017
  #3
Gear Maniac
 
mworkman's Avatar
 
🎧 5 years
I waited for the 48 month promotion so I could get a really nice set of Pearl Reference Pure shells. I have the money to pay outright but at interest free I don't have to lay all the money out at once. If I remember correctly I was originally approved for $5k which wasn't going to cover my purchase. I called them saying I needed $15k and they were willing to go to $10k and that more than covered what I needed.

Moved a year's worth of payments into a separate account and setup autopay and I am good to go. I just need to refresh that one account each year.
Old 23rd February 2017
  #4
Lives for gear
 
🎧 10 years
Quote:
Originally Posted by audioman ➑️
Hey fellas pulled the trigger and applied for the sweetwater card. Really wanted to get a Burl B2 bomber and thought this was a great way without paying for it in full. I got approved for $4500 which I think is terrible considering this card is at 29% if not payed in full. now buying this B2 bomber will put me in 50% of my credit utilization ratio cause its $2349. Just venting guys these people should offer more of a limit to make it worth it. Any of you have this card?
I've used both 36 and 48 mo promos for my card and always am sure to pay it off before.. it's a pretty slick deal. I can argue that point my wife a lot easier than dropping a few grand on something

You can check the promo deals on the online banking to see when the 0 percent ends.. I mean if push comes to shove just transfer the balance so you don't get hit.
Old 23rd February 2017
  #5
Lives for gear
 
DomiBabi's Avatar
 
🎧 5 years
I've used it many times, most recently to buy the new Chandler REDD Microphone.

It's great. Just pay more than your minimum and pay it off early. Make sure you can do much more than the minimum, just in case life happens.
Old 23rd February 2017
  #6
Lives for gear
 
trock's Avatar
 
🎧 15 years
ive used min alot over the years, always pay it off before and no issues that way
Old 23rd February 2017
  #7
Lives for gear
 
Lenzo's Avatar
 
6 Reviews written
🎧 10 years
I think 3 years is a pretty good length of time to pay something off. They used to just offer 12 months. Recently they offered 48 months. I bought a couple of pieces on the 48 month plan. Even at 36, they are letting you use their money and taking the risk. I could get hit by a bus in the next couple of years and they'd have a pretty hard time getting me to pay it off at that point.
L.
Old 1st March 2017
  #8
Lives for gear
 
🎧 15 years
Thank you guys for all your input I am def gonna pay it off in a year. Why wait for 3 and my credit should benefit a lot from that as well
Old 1st March 2017 | Show parent
  #9
Quote:
Originally Posted by audioman ➑️
Thank you guys for all your input I am def gonna pay it off in a year. Why wait for 3 and my credit should benefit a lot from that as well
Enjoy the new card and get some goodies!
Old 1st March 2017
  #10
Lives for gear
 
BarcelonaMusic's Avatar
 
🎧 5 years
Yeah, don`t do it! If you can`t afford it now, you don`t need to be buying it. Only exceptions are a car and a house.
Old 1st March 2017 | Show parent
  #11
Lives for gear
 
BarcelonaMusic's Avatar
 
🎧 5 years
Quote:
Originally Posted by Synth Guru ➑️
Enjoy the new card and get some goodies!
Don`t tell him that! If he`s that impulsive that he needs a Sweetwater credit card think of all the stuff he`s going to buy when he should be making payments! "Well, I DO have 3 years.." NO! That`s not how stuff works. Let`s act like adults here.
Old 1st March 2017
  #12
Lives for gear
 
conleec's Avatar
You're correct. We're all adults here. If you choose to use this option, be aware that if you don't pay it in full by the deadline, you're gonna get hit with a 30% pro-rated fee. Ouch. But if you DO pay it off on time, you've used Sweetwater's money to cushion your cashflow. As long as you're responsible, it isn't a terrible idea. Corporations use other people's money all the time for expansion. The trick is to be responsible. Else, whatever happens is all on you.

You've been warned.
Old 2nd March 2017
  #13
Lives for gear
 
🎧 15 years
You guys are awesome! Thank you. Yes i will be responsible. My plan is to pay it off in a year.
Old 3rd March 2017 | Show parent
  #14
Lives for gear
 
🎧 10 years
Quote:
Originally Posted by BarcelonaMusic ➑️
Don`t tell him that! If he`s that impulsive that he needs a Sweetwater credit card think of all the stuff he`s going to buy when he should be making payments! "Well, I DO have 3 years.." NO! That`s not how stuff works. Let`s act like adults here.
The funny part is this mentality actually impacts your credit in a negative way. If you live with this mindset you're going to have a lower credit rating and pay more for that house and car than the next person.

Without going into it in too much depth, let the guy use his credit. Having the open credit line will only improve his credit rating granted he keeps it below 30 percent utilization and keeping the trade open for eternity will only increase the score over time versus when you have a house and car payment only: the second you pay off that car, refinance, trade in etc. (They're all considered paying off the original trade line) your credit score is going to sink.
Old 3rd March 2017 | Show parent
  #15
Lives for gear
 
BarcelonaMusic's Avatar
 
🎧 5 years
Quote:
Originally Posted by nmrecording ➑️
The funny part is this mentality actually impacts your credit in a negative way. If you live with this mindset you're going to have a lower credit rating and pay more for that house and car than the next person.

Without going into it in too much depth, let the guy use his credit. Having the open credit line will only improve his credit rating granted he keeps it below 30 percent utilization and keeping the trade open for eternity will only increase the score over time versus when you have a house and car payment only: the second you pay off that car, refinance, trade in etc. (They're all considered paying off the original trade line) your credit score is going to sink.
I`m in the upper 700`s and it isn`t because I have a Sweetwater credit card. I have cards for emergencies, but not something like that.
Old 3rd March 2017 | Show parent
  #16
Lives for gear
 
BarcelonaMusic's Avatar
 
🎧 5 years
Quote:
Originally Posted by audioman ➑️
You guys are awesome! Thank you. Yes i will be responsible. My plan is to pay it off in a year.
Yes, pay it off in a year. I remember when I first bought a house and had to furnish it and got a Sears credit card. That thing haunted me for YEARS. Most store credit cards will NOT negotiate interest in ANY way, unlike a Discover card where your interest fluctuates. I wanted to kiss the friggin ground when I paid that thing off. I was paying like 22% interest and it was just the hurdle from hell at that time. That`s just why I have strong feelings about store credit cards. They can be HELL.
Old 3rd March 2017 | Show parent
  #17
Lives for gear
 
Lenzo's Avatar
 
6 Reviews written
🎧 10 years
Quote:
Originally Posted by BarcelonaMusic ➑️
I`m in the upper 700`s and it isn`t because I have a Sweetwater credit card. I have cards for emergencies, but not something like that.
My wife and I are both over 800..we use credit wisely, buy almost everything with cards and pay it off every month..except my Sweetwater card. I'm using their money. I used to be a cash guy, but my wife talked me into putting everything on cards for the miles. I had a free round trip to Italy last year. A big chunk was knocked off of a trip to Australia later this year. We've gotten several free rental cars over the years with points. If you play the credit card game right, it can be rewarding.
And as a side note, Sweetwater just offered 48 months no interest again.
L.
Old 3rd March 2017
  #18
Sweetwater just wants your sweet money.
Old 3rd March 2017 | Show parent
  #19
Lives for gear
 
BarcelonaMusic's Avatar
 
🎧 5 years
Quote:
Originally Posted by Lenzo ➑️
My wife and I are both over 800..we use credit wisely, buy almost everything with cards and pay it off every month..except my Sweetwater card. I'm using their money. I used to be a cash guy, but my wife talked me into putting everything on cards for the miles. I had a free round trip to Italy last year. A big chunk was knocked off of a trip to Australia later this year. We've gotten several free rental cars over the years with points. If you play the credit card game right, it can be rewarding.
And as a side note, Sweetwater just offered 48 months no interest again.
L.
Good for you! I`ve got cash so I don`t need it.
Old 3rd March 2017 | Show parent
  #20
Lives for gear
 
Lenzo's Avatar
 
6 Reviews written
🎧 10 years
Quote:
Originally Posted by BarcelonaMusic ➑️
Good for you! I`ve got cash so I don`t need it.
Yeah, I have that too. But I prefer to use other people's money. And I didn't really post that for you. If cash works for you, that's fine. I respect that. But encouraging others to avoid credit is bad advice. Credit can be a powerful tool if used wisely. It can help a person build wealth. And to my first post...I'm going to spend money on food, gas and other daily needs...it just seems smart to me to get free stuff from the credit card companies if they are willing give it to me. Using cash would have cost me a few thousand dollars in plane tickets over the last few years. Instead, I kept that cash.
L.
Old 3rd March 2017 | Show parent
  #21
Lives for gear
 
BarcelonaMusic's Avatar
 
🎧 5 years
Quote:
Originally Posted by Synth Guru ➑️
Sweetwater just wants your sweet money.
Money is pretty sweet.
Old 3rd March 2017 | Show parent
  #22
Lives for gear
 
BarcelonaMusic's Avatar
 
🎧 5 years
Quote:
Originally Posted by Lenzo ➑️
Yeah, I have that too. But I prefer to use other people's money. And I didn't really post that for you. If cash works for you, that's fine. I respect that. But encouraging others to avoid credit is bad advice. Credit can be a powerful tool if used wisely. It can help a person build wealth. And to my first post...I'm going to spend money on food, gas and other daily needs...it just seems smart to me to get free stuff from the credit card companies if they are willing give it to me. Using cash would have cost me a few thousand dollars in plane tickets over the last few years. Instead, I kept that cash.
L.
That`s cool. I fly meh, maybe 6-8 times a year. I probably should pay more attention to miles and whatnot like you said. I`m flying out to San Fran to do some session work, and drive to L.A. to meet with another producer I`ve been working with. It`s crazy, a lot of the producers I`ve worked with have relocated to Austin(I mean multi Grammy winners) and are doing better there. I`m just really interested in this particular guys style and am looking forward to working with him.
Old 3rd March 2017
  #23
Lives for gear
 
🎧 15 years
Def plan to keep my utilization ration at 30%. My score is high 760 and did have the cash but as a few mentioned here its always smart to use the banks money as long as you are responsible and do not pay interest.
Old 3rd March 2017 | Show parent
  #24
Lives for gear
 
Lenzo's Avatar
 
6 Reviews written
🎧 10 years
Quote:
Originally Posted by BarcelonaMusic ➑️
That`s cool. I fly meh, maybe 6-8 times a year. I probably should pay more attention to miles and whatnot like you said. I`m flying out to San Fran to do some session work, and drive to L.A. to meet with another producer I`ve been working with. It`s crazy, a lot of the producers I`ve worked with have relocated to Austin(I mean multi Grammy winners) and are doing better there. I`m just really interested in this particular guys style and am looking forward to working with him.
I don't know if they are offering this right now, but a few times a year Capitol One and Southwest both throw up this offer where they will give you 35,000 to 50,000 free miles if you take their card and spend, I think it was $3000 on it in 3 months or something like that. If you spend that much over a 3 month period on gas, food, etc., then you can take that deal, spend and pay it off and grab the free miles. My wife had took one of those deals...a few months later they sent me that same offer. I didn't think they would do it, but I applied anyway. Immediate approval. So we picked up something like 70,000 free miles in a few months. Credit is a crazy game. I won't go into how I bought my first and second house, but it was all crazy credit stuff. They knew and I knew we were doing this dance, but they didn't care, because they were making money. It made me money. It was all good. They are hoping you are a dope and get in over your head, but you don't have to.
L.
Old 3rd March 2017
  #25
Lives for gear
 
🎧 10 years
You don't realize that credit skews your whole paradigm of what money gets you. If you got 48 months 0 interest cash you would have found a 30% better deal somewhere with that cash. Instead you paid full retail with money you don't have and won't have in the future. Time value of gear says you'll pay full price in 48 months for something worth half that in the future tense. So like a child you justify your actions with any miles or bs financial wisdom of using money to make money. Hope your wife doesn't leave you. Financial problems are the number one cause of divorce. I'm not perfect and have used credit too so I'm only trying to help share my experiences. I've gotten all the PayPal 10% credits on purchases and miles for airlines etc and paid them off at 0 interest. But I always had a full emergency fund and assets to back up those purchases. Still I think credit clouds judgement when purchasing anything.
Old 3rd March 2017
  #26
Lives for gear
 
cavern's Avatar
 
🎧 10 years
Its simple really. Credit is a tool and if you use it as such, its a benefit.
All you need to remember is credit is money you don't own. I hear people say, "i have $5000 in my account and a $5000 credit card so I have $10,000". No, you have $5000 not $10,000.
If you realize that, you good to go.
In my business, I use credit on a yearly basis and its a benefit.
Old 3rd March 2017 | Show parent
  #27
Lives for gear
 
🎧 10 years
Quote:
Originally Posted by BarcelonaMusic ➑️
I`m in the upper 700`s and it isn`t because I have a Sweetwater credit card. I have cards for emergencies, but not something like that.
Well that explains it. From your talk you made it seem like you were against them.. perhaps from the "only car and house" comment.

Carry on
Old 3rd March 2017 | Show parent
  #28
Lives for gear
 
Lenzo's Avatar
 
6 Reviews written
🎧 10 years
Quote:
Originally Posted by Milliken ➑️
You don't realize that credit skews your whole paradigm of what money gets you. If you got 48 months 0 interest cash you would have found a 30% better deal somewhere with that cash. Instead you paid full retail with money you don't have and won't have in the future. Time value of gear says you'll pay full price in 48 months for something worth half that in the future tense. So like a child you justify your actions with any miles or bs financial wisdom of using money to make money. Hope your wife doesn't leave you. Financial problems are the number one cause of divorce. I'm not perfect and have used credit too so I'm only trying to help share my experiences. I've gotten all the PayPal 10% credits on purchases and miles for airlines etc and paid them off at 0 interest. But I always had a full emergency fund and assets to back up those purchases. Still I think credit clouds judgement when purchasing anything.
You make a lot of assumptions about my financial situation. Something you know nothing about. I'm not trying to tell you how to run your financial situation and I'm not making snarky comments about your wife or your financial wisdom. I'm trying to be helpful and point out that there are advantages to using credit wisely. If you have anything helpful to share, I'm sure people would love to hear it. But you really don't enhance your own credibility with posts like that.
L.
Old 3rd March 2017
  #29
One thing I like about these cards are the rewards and you can opt to get them converted to cash.
Old 4th March 2017 | Show parent
  #30
Lives for gear
 
BarcelonaMusic's Avatar
 
🎧 5 years
Quote:
Originally Posted by Lenzo ➑️
I don't know if they are offering this right now, but a few times a year Capitol One and Southwest both throw up this offer where they will give you 35,000 to 50,000 free miles if you take their card and spend, I think it was $3000 on it in 3 months or something like that. If you spend that much over a 3 month period on gas, food, etc., then you can take that deal, spend and pay it off and grab the free miles. My wife had took one of those deals...a few months later they sent me that same offer. I didn't think they would do it, but I applied anyway. Immediate approval. So we picked up something like 70,000 free miles in a few months. Credit is a crazy game. I won't go into how I bought my first and second house, but it was all crazy credit stuff. They knew and I knew we were doing this dance, but they didn't care, because they were making money. It made me money. It was all good. They are hoping you are a dope and get in over your head, but you don't have to.
L.
Yeah they can be good. Another blunder I did was I decided to go back to college about 10 years ago and finish my degrees. I haven`t really used them for anything, but decided I`ll go full time and took out a bunch of school loans that I still pay to this day. I didn`t need that much money at all. I just really didn`t work because I was in school all the time, although I did have several publishing deals, mostly overseas. So by the time the translator and publisher got their cut, jeez not much left on the bone here. It was such a demanding schedule, too. I was going to school all day, homework at night, and getting emails all night long about what was needed. Most brutal schedule I`ve ever had in my life. I, of course, didn`t want to disappoint them, this was supposed to be my dream job! So I started turning to hard liquor to fuel my late night recording sessions and barely getting by in school. I started talking to this guy online, like I`m talking to you, he sends me some examples of what he so badly needs, I send him what I think he wants, I had to convince him I wrote it because he couldn`t believe it, and it was just one after another, after another...etc. I nailed the genre. WAY outside of what I`ve ever done before. I did it! I was in! But their hours being opposite of ours, and I felt like a slave getting up in the middle of the night to change this part, or do that. I would get home from school and be sooo tired, and my phone "ding!" "GET TO WORK!" I began guzzling vodka because it`s like gasoline and I`d be FINE and ENJOY IT! My wife had to pull me up off the keyboard in the middle of the night so many times. One thing was odd, it`s like I would have no recollection of doing some of these mixes, I`d listen to them and feel like someone did it for me. Most of the time it sounded GREAT. I don`t know how, I was drunk out of my mind. Sorry for the rant, I just haven`t been on any music forums for quite some time and it feels good to talk with like-minded people. Thankfully, life is MUCH better now. Both of us make really good money, I`m getting a lot of work done on my house. I just paid $26,000 for a complete sewer replacement because the cast iron rotted out. That`s Texas for ya. No basements.
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