I am so tempted to get another credit card

I am really tempted to get another credit card. It would be a snake-only credit card that would be used to purchase racks, snakes, husbandry items, ect. I don't have a lot of debt as of now.

I have 3 empty tubs in the rack right now and there are so many morphs I want to work with. Have any of you ever been tempted to put yourself into financial ruin to get more snakes. lol. I know its bad, but I'm tempted to get just one more credit card. I only have one right now and I'm paying it off. :P:P:P

Haha do it, you know you want to. :devil:

You are horrible. Haha. I'm very tempted. I want to get my hands on a better rat rack, stuff for the incubator for this season, hatchling racks, and a few snakes.

I do not spend what I can not afford to spend. That is my motto. lol

I was always told not to spend money I don't have either....but If your not getting to out of hand by buying some of the stuff with your own money and putting some on the credit card.

If you dont have the cash NOW to pay for it. Dont do it.

if youre not in alot of debt now, it should be very easy to save that money for a week or two, and buy what you need. :gj:

Credit cards are NOT worth it. They seem nice, and its such a nice thought to make payments... but do you really want to be making payments on something that you could just outright afford in a few weeks? and paying interest on those things along with it?

Its your money and your credit - another card would not be a bad thing if you can EASILY make decent payments. Just make sure there is nothing else you would require that credit for (i.e a car or something of that nature).

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Originally Posted by Wh00h0069

I do not spend what I can not afford to spend. That is my motto. lol

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That is similar to my motto...

I do not spend what I can not afford to spend within my credit limit. :)

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Originally Posted by Jay_Bunny

I am really tempted to get another credit card. It would be a snake-only credit card that would be used to purchase racks, snakes, husbandry items, ect. I don't have a lot of debt as of now.

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Used responsibly credit can be a great tool, just make sure you could pay off the debt even if every snake you bought on credit were to die.

I love my credit card, and yes, I would totally get another one if I trusted myself to stay in budget.

Credit cards are not evil, you have to practice self restraint and be money smart. They come in handy when you have expenses pop up suddenly!

My motto is, if I have room on the credit card, I can buy it!

LOL. I also know that I pay a low interest rate, and I can pay off my credit card very easily.

Also, building credit is a NEED to do thing in my opinion. You dont want to be stuck trying to get a loan on a house or car down the road and not have ANY credit! Then you'll be stuck with extra high payments and high interest if they loan to you at all!

Be smart with your money, and KNOW your limits. :)
If you get a good interest rate (not those silly intro ones) around 9%, I'd go for it. Just be sure you read that fine print and get a good credit card.

If your lucky enough for 0% interest, you can stack that puppy up, pay the minimums, and put your money into a savings account and earn interest! LOL, now that's awesome and money smart!!

Minimum payments on my almost maxed out credit card are very small and I'm paying twice the minimum every month right now, so I can pay it off. It seems everyone I talk to about credit cards sees them as evil and dangerous things. I wanted to get some input from others.

I'm really thinking about getting another one. I'm going to have a lot of expenses this year with it being my first year breeding snakes and I'm going to need to be able to get an extra hatchling rack if my snakes lay big clutches, or something like that. Not to mention I'm really itching for another snake. :P

Credit cards can go either way, I agree that they can be a great tool for building credit. they can also be a tool to lower your credit score, if you approach 10% of your max, then you score goes down. I have a seperate credit account for my snakes and supplies and it works good for me, that being said what works well for me may or may not work well for you. I would recommend a seperate spending account of some sort be it credit or a savings / checking etc... (Paypal Works good if you get the debit card) just for your snakes/supplies it helps to be able to really set that money aside.

Chuck

I really do need a seperate card or savings account for just my snakes. I have a habit of spending money from my debit card on my snakes. I need to be able to see how much I've saved or have as far as available credit and know that that is how much I have just for snakes and husbandry items. I just need to make sure I get a good card.

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Originally Posted by Jay_Bunny

Minimum payments on my almost maxed out credit card are very small and I'm paying twice the minimum every month right now, so I can pay it off. It seems everyone I talk to about credit cards sees them as evil and dangerous things. I wanted to get some input from others.

I'm really thinking about getting another one. I'm going to have a lot of expenses this year with it being my first year breeding snakes and I'm going to need to be able to get an extra hatchling rack if my snakes lay big clutches, or something like that. Not to mention I'm really itching for another snake. :P

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If you can only pay twice the minimum payment on the card that you already have then you can't even afford that one. Another card will put you in trouble in my opinion.

Well I could pay more, but I only pay twice the minimum.

With the exception of the loan on our new vehicle we have NO DEBT.. we dont have CC either. I think they are great if you get in a pinch but not something you need to have either. I think if you have already nearly maxed out a card, getting another might not be such a great idea. Trust me its been very tempting to get a CC to take to Daytona, we have been thinking about that for months. We have incubators, hatchling racks (for both BPs and Leos) new morphs, exc to buy but it isnt something we have the cash to go and buy today.. thankfully we saved up for a couple weeks and have a nice chunk of change to take with us to Daytona, if its something your going to need (such as a hatchling rack, incubator, exc) you know its coming.. those things dont just sneak up on you.. save up for it and save yourself the interest... if you needed a new tire for your vehicle and didnt have the cash, or didnt have groceries for a week until you get paid again that seems like a much better reason to use a credit card.

I know how much ive spent/saved/exc on my snakes.. its all documented on receipts, exc.

I don't think it's a bad idea as long as you don't get out of hand. If you decide to do so I'd suggest you set yourself a limit that's not too incredible, say 500 or so dollars? Enough to purchase some of the "cheaper" morphs as well as racks and such. That way you don't over do it. If you want something more than 500 like say a pied or clown or such, you save up and you can use your own cash as well as the card to get it. I have bad credit, but it's getting better since I've taken some debt/money management classes. Having a credit card and using it responsibly isn't a bad thing as it helps you build credit. Good luck in whichever decision you choose to make!

i'm still debating whether or not i should get my FIRST one! haha. i like the idea of a "snake-only" card tho.. hehe.

Actually...

That sounds like a great idea. I just recently started documenting what I put into the hobby vs. what I get out (still a fledgling here). And having all those expenses in one place, one document, with a definite paper trail would be a great way to know where you're at.

Obviously... smart buying etc. is critical.

Easier than going to the bank and saying "I would like a loan to buy snakes!".... and yes, that HAS crossed my grey matter, but then I said it outloud in the mirror. :)

Bruce

Who... has almost earned back what he spent on his first snake out of 24! That $40.0 normal male sale really pushed the profits through the roof!