<p>Are they a good way to build credit? Or do they tend to create meaningless debt?</p>
<p>They are a good way to build credit if you have the cash to pay them.</p>
<p>As a friend of mine describes it… never take out a loan unless you can pay cash for it.</p>
<p>That said… use good judgment.</p>
<p>For a computer, I don’t think I’d consider any loan much longer than 12-18 months. Computers lose value very quickly, and for many folks become obsolete within 18-36 months. The very last thing you want to be doing is still paying for a computer that may no longer be ‘enough’ for you, requiring you to upgrade to another model.</p>
<p>What about eligibility? Would it be easy for a college student w/o a job to get a computer loan?</p>