Getting financing for a new computer at the Apple store...?

fletch

So, I have been thinking of applying for credit through Apple/Juniper when I purchase a new iMac (waiting until leopard). This past weekend, my buddy decided he wanted a 20" iMac and I went with him to the Apple store to get one.



He decided on the Apple/Juniper financing and applied for it on one of the machines they had set up. He has an excellent credit score (840) and his Wife and him make really good money between the two of them ($200k/yearly) so he put "$200000" for his annual household income. He applied, and was given credit to buy the computer, which didn't surprise us.



What did surprise us was the credit line he was given - "only" $2990.00. He didn't really care so much, as it easily covered the machine he was getting but it is making me worry a bit because I had planned on applying for financing in October when Leopard ships.



My credit score isn't nearly as high as his (high 600's) and I don't make anywhere near the money he does annually (think low $50k's). But after seeing the credit line he was given, I am worried/skeptical that I will not be approved, and I'm not sure I want to add another inquiry to my credit report just to find out.



Has anyone here applied for financing through Apple and had similar stories/credit lines from them? I find it odd that for someone as makes as much cash as he does that they would give him such a low amount to work with.



Should I even bother? Thoughts?

fran441

If I were you, I'd just save up the money and buy the computer. Even if you intend to pay the computer off entirely in 90 days to avoid the interest, I still wouldn't trust the credit card companies. I just helped my parents close out their credit cards and they are *still* getting statements as if their accounts were open. I have had to call a number of times to get them to close it out and they returned cancellation request letters to us saying the accounts had already been closed. Yet the accounts still remain open and active.



Besides that, do you really want to pay 22.74% to start with the risk of the interest rate going even higher? With Universal Default terms in everything now, being late on any of your bills, even by accident, could cause your interest rate on this loan to go to 30% or higher.



You've already decided you want to wait for Leopard before buying your next computer and that's still 6 months away. Just figure out how much you want to spend on the computer now and budget it in. If you put away $50 a week, you'll have around $1300 for the computer by the time you want to buy it. Obviously I don't know your monetary situation but that's what I try and do when I'm getting ready to make a big purchase.