Question for credit experts, please read?

Hi,

I'm Alex, and have a serious question for you all. One of my biggest dream is to buy a Kramer Paul Dean Signature guitar. There is one person who is selling me his model, however he wants $800.00 for it. Some things to know are the following, I do have a Capital One card, Macy's, JC Penney as well. My Capital One card does not cover that amount. Also I've already applied for two personal loans at Banner Bank %26amp; Bank of America and both declined my request. They said I didn't have enough credit history, I honestly don't know why since I always make my payments on time and never miss any payments. So I get an offer from Visa Platinum that has a $1,000 credit limit, should I accept it just to purchase my dream guitar?

It does have high interest rates, but I have a feeling once the guitar is paid off, it will be worth it all.

My question is this - Should I apply for that Visa Platinum to make the purchase of the guitar?

Also, how much would the payments be each month?

Question for credit experts, please read?

If you can't buy the guitar straight cash, you should really think about how important it is to have RIGHT NOW. If you can't afford it, you'll have serious problems down the road. YOu should do what the guy above me suggested. Purchase it in payments. Say 100 bucks a month over eight months. That way, you won't get charged interest from a credit card, and you'll spread the dollar amount out over a time.

But do you HAVE to have it? That's an important question.

Question for credit experts, please read?

I have a better idea for you. Ask the seller if he would be willing to sell with you making payments to him using a mutually agreeable schedule and amount. Type up a simple contract and have it noterized (your bank should be willing to do this if either of you don't know a notary).

If that doesn't work, then I would overpay the credit card you already have so that your available balance is more than the limit. Or you could call to see if your limit can be raised on said card.

Question for credit experts, please read?

Try prosper.com for a unsecured personal loan. There you can consolidate your credit cards and get your guitar and only have on payment. They have both bad and good credit loans with decent interest rates.

Its worth the look.

Question for credit experts, please read?

This is about the 3rd or 4th time you have asked this same question. It seems as if you waiting for people to agree that what you are doing is a good idea. Not to be rude, but that has not happened yet has it? Think about if you NEED it or just WANT it.

If you already have 2 recent denials there is a good chance that you won't get approved for the credit card. You should see if the person selling it will allow you to make payments on the guitar. If you do decide to apply and get approved for the credit card, DO NOT only pay the minimum. If you only pay the minimum it will take years to get it paid off if you do it that way.

Question for credit experts, please read?

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