Bunnings will be unrolling across Australia in a few months, currently it's only available in Tasmania, a $10,000 limit purchase card with up to 55 days Interest free and around 10% Interest there after.
I think this is a great idea though they do not call it a credit card it's the same as buying using one but Bunnings is acting as bank instead.
One of my goals is to walk into Bunnings and put a house in a shopping trolley and wheel it home. The shopping trolley being a truck delivery though. I've applied for a $100,000 trade account.
wow, that would hurt serviceability.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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It could just a tad. Dependent on how well finances is structured and if development pre-sale etc. But whatever way moves me forward?
It would be good serviceability for 55 days…then not so good
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Email MeHmm… $10,000 + bunnings…. that's dangerous talk!!
For some reason, every time I walk in there for a $2 thingamagig I walk out with $1000 worth of doobywhatsits… and on most occasions I have completely forgotten about the thingamagig and have to go back!
Now picture 'store credit'…
grimnar wrote:Hmm… $10,000 + bunnings…. that's dangerous talk!!For some reason, every time I walk in there for a $2 thingamagig I walk out with $1000 worth of doobywhatsits… and on most occasions I have completely forgotten about the thingamagig and have to go back!
Now picture 'store credit'…
Is that when the thingamagig is for making a wingwong with a gooses bridge?
Trade accounts are good fun i already got four of them and had $8,000 booked up last two months and paid down all debt, could easily get $30,000 in materials tomorrow.
If you've got your owner builder's permit, you can apply for an 'owner builder card' at bunnings…
This card gives you trade discount (up to 10%) on most items, but you still pay 'up front' for the items as per normal purchases.Oooh, that's a neat trick…. will have to check it out.
Nah the thingamagig replaces the wingwong, which is no longer in production… But what I really want to know, is why do gooses need bridges anyway???
$10000
that is intense, please delete this thread before my partner sees it lol
grimnar wrote:Oooh, that's a neat trick…. will have to check it out.Nah the thingamagig replaces the wingwong, which is no longer in production… But what I really want to know, is why do gooses need bridges anyway???
Generally they don't but left handed ones never go astray & they are a special order on Tuesdays.
Daniel, why would you want an account at Bunnings anyway? I find Hardware & General (or other independents) are better priced & higher quality & still take my credit card or business accounts.
Because credit can make me a lot of money. I made 50k equity on paper on the last purchase because i could buy some time to renovate a couple of properties knowing i could use the cash instead to buy an acquisition in the meantime.
It saved my skin and i wouldn't have relied-ed on anyone else to get me through.
My Bunnings Trade Card arrived this week did anyone elses come?
An example of possibly how I'm going to use it is to shop for a cheap water tank and then if Bunnings are not cheaper get it 10% less on credit as per company policy and get the tank installed while going for the rebate of $1000 and not needing any money to do it.
I agree though i def hunt around for cheapish secondhand products as much as possible. Also for example i took my tradie in to buy a brand new $1400 dollar or so Saw to pay him as i didn't have cash. He was happy, i was happy, the store was happy. That enabled me to finish the second property while i was up in Queensland having a short holiday.
I'm setting them up for flip Reno's in the future to as a possible option and or even to get a development through to completion say perhaps.
Hi,
With the $10 000 Bunnings Credit Card, are you able to access with money for another needs? i.e property purchasing
In South Africa, what I did once is get the maximum amount on my credit card and I actually purchased a property at a real bargain using the funds on my credit card.
You can also use this money to pay for deposits and fees accociated with buying a property with the deal is really good and you dont have the upfront funds to put down a deposit of pay the associated fees.
But beware, this must be done wisely and the repayments required on your Credit card will need to be taken into consideration when evaluating a deal.
Regards,
RobbieBen K wrote:$10000that is intense, please delete this thread before my partner sees it lol
Haha, same! We’ve been to the same Bunnings each day for the last week. We go there to look at some heaters and leave with a $3k carpet order, 20 odd litres of paint and a new vanity.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
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After Bunnings bought out the main local hardware concern in a central west NSW country town last year, the application form for credit required the applicant to agree to using their real estate as security for default.
Read the application form very carefully.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
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Wow – just popped into bunnings to grab some more paint. Couldn’t get a car park and waited at the paint desk for half an hour! The weekend warriors (myself included) are out in abundance today!
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
thecrest wrote:After Bunnings bought out the main local hardware concern in a central west NSW country town last year, the application form for credit required the applicant to agree to using their real estate as security for default.Read the application form very carefully.
Cheers
thecrestI read this in my application for credit at Bunnings in my home town. Very concerning watching all the tradies walking out of thier trade shops, especially when some very large local builders have gone belly up recently, leaving these tradies in the lurch 2-fold – bad debt, loss of work! When in business, never say it will never happen to you!
pinkboy
Just found this thread. Has anyone else signed for the Bunnings Credit Card? Any thoughts on the fine print? For experienced renovators this could be very handy but for the weekend warriors it could be a trap.
Holly
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