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Apple Card App Expected on iPad, Barclaycard Visa No Longer Offers Apple Rewards
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I believe the OP was noting that they finance items on a Same as Cash basis, paying off the balance before the due date of the SAC period.
I do this myself on all major purchases. I have the money already set aside and dedicated to paying off that debt in an interest-bearing account. I generally divide the purchase by the numbers of months minus two (so I always pay the balance two months prior to the promotional end date). So say my iMac 5K at 24 months at $4000, I pay $182 a month so the balance is paid in 22 months and I am earning interest over that period.
It's not hard, but there are benefits to me in using the CC and floating that balance in an interest-bearing account for the 20-30 days that I would not get if I paid cash up-front. Your mileage may vary.
Yep, I've got a lot of Apple gift cards over the years using that card, and I was really close to getting another one.
They charge the retailers for using the credit system. But before you start feeling too bad, remember that the cost of accepting credit cards is somewhat offset by the personnel costs they don't have to spend on counting and depositing cash. Also, credit card transactions vs cash means less for potential bad employees to steal.
Do you ignore everything everyone else has said? There are definitive benefits to using a credit card over cash/debit card:
- Ease of use. I typically don't carry cash on me. To get cash requires going to a bank or ATM. If my bank ATM isn't local, I end up paying huge fees to get my own money.
- Rewards. Rewards aren't a gimmick. I get probably between $400-$600 back every year on my purchases on my Citibank DoubleCash. That is not including my Costco Rewards (~ $100 every year for just buying Gas) and miles.
- Security. If someone steals my cash, it is gone. If someone steals my debit card and drains my account, I am likely going to be without money for a fews days, at least. If someone steals my CC, I am OUT nothing except the time is takes me to notify my credit card company.
- Extra features. If I buy with a credit card, I can get additional features, such as extended warranties, travel protection, buyer protection (if the product is not delivered or is not as advertised.) If I pay cash, then I get none of that.
I pay off my credit cards every month. As do 42% of credit card holders. (https://www.creditdonkey.com/credit-card-debt-statistics.html). So, while there are definitely a lot of people that carry credit card debt, there are plenty of people that use credit cards wisely.
Seriously, how often a year does a car break down or someone loses their job? These worst case scenarios are no excuse for a lifetime of poor month-to-month financial irresponsibility. If it's a huge purchase like a house, car, appliances, etc then one should be expected to need to use credit. Accruing interest on revolving debt from the grocery store, however, is absurd.
No. I only do this on cards with a 0% interest.
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Yes, which is why I only do this on cards with no interest.
Ditto! It made it possible for me to buy an iPad Pro and an iPhone. I had plenty of time to pay off these purchases without interest.
The Apple Card can be used as long as I have an iPad or iPod Touch for the app?
Does it not work with my desktop Mac?
Does it not work with my desktop Mac?
Well, that's the problem - not credit cards. Of course, its potentially insulting to generalise - if you are struggling to raise kids and keep a roof over your head then maybe saving simply isn't an option, and I certainly don't want to patronise people in that situation... but, seriously folks, if you're currently sitting in front of a $2000 Mac then you could have had $1500 savings and a perfectly usable PC...
If you only have $2000 cash on the 1st of the month, buy a $2000 Mac on the 2nd of the month and lose your job on the 3rd of the month, then you're in a hole with $0 spendable cash whether or not you paid cash for the Mac or got it on a credit card that you planned to pay of at the end of the month. The problem is not the credit card, but that if you don't have enough savings to pay the next couple of months' rent, or pay for an unexpected car breakdown then you can't afford a $2000 Mac just because you've got $2000 cash in your pocket today. Again, I say that in the context of a forum about luxury consumer electronics - I'm not trying to patronise those in genuine poverty.
Meanwhile, the #1 overriding advantage of using a credit card is that there are many circumstances involving fraud, theft, sellers going bankrupt etc. that could lose you your cash but suddenly become the bank's liability if you used a card. For some things, like travel, its bonkers not to get it on a credit card if you can.
Helped my sister get her first card at 50-ish. Was cash/debit payer before. No credit history couldn’t get card. Started w card from univ credit union. Then as she had score moved her onto AMEX and a better rewards Visa. Put absolutely every recurring and discretionary purchase on card. Auto pay full balance each month. Good score helped her get car loan at 1.75%. Bought car on card, immediately paid off with loan. Churned a few cards along way. Earned considerable cash back and flight miles enough to travel to Europe 3x. Credit score around 830 now. (Previously forgot to pay various bills in time, never happens now, Card solves that, and brought tangible rewards.). Pays all on Apple Watch, same for 86yo mom. Mom has score somewhere 850 to 860 ish.
Are you talking about the Barclays Apple Rewards card? If so, that's actually one of the easiest Barclay cards to get.
+1
I have a credit union Visa credit card that has a company that will call me if there are charges that don't fit my normal buying patterns &/or purchases.
A few years ago they called me and asked if I had made a purchase from a company in L.A. that was selling tea.I had never heard of the company so they declined the charge.If I had used a debit card that $ would be gone and I would have to go thru the hassle of getting it back.I never use a debit card for purchases.
Also,I called the company and was told that they had rec'd calls from others with the same issue.How someone obtained my CC # is another issue.
The Apple Rewards card was pretty weak before this change, in part because points redemption is in minimum 2500 point increments, making it very likely you have a substantial pile of points you earned but can't redeem and will now forfeit if no more points can be earned. Great for Barclays, bad for you. I have about 1400 points, worth nominally about $14, that would disappear.
If it affects current cardholders it becomes a sock drawer card, especially if they also drop the 0% financing deals they periodically offered.
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Also, cash isn't free if you're a business. Banks charge businesses fees for the privilege of depositing cash.
All BS reasons.
There's a reason why US national debt is the highest in the world. There's also a reason why most Americans have no savings and live paycheck to paycheck. And it has everything to do with credit.
Typical American mentality is that if you cannot afford something, you buy it anyway. No money? - No problem, just use credit!
Now take a look at Asian countries, for example. Yes, they also have credit cards. But the overwhelming majority of people in those countries only buy something that they can pay for in cash. Even though they have credit cards, they don't rely on them and rarely ever use them (mostly in emergency situations).
To address each of your reasons:
1. Consumerism 101. They got you by the balls. Banks in this country essentially brainwashed everyone into using credit cards. Because heaven forbid people move their fat a$$ and stop by a bank to get some cash. Also, ATM's and banks are everywhere. There's no need to pay any fees to get cash, unless you opened accounts at some third-world bank that only serves locally.
2. Rewards are absolutely a marketing gimmick to get people to sign up and tear them a new behind. They want to make you completely dependent on credit. The second anyone misses a payment, bam! They win. That's the point of credit cards, after all.
3. How many times were you robbed of your cash at gunpoint? How many times did you lose your wallet? How many times did somebody steal your hard-earned money? - This is a moot point. If you're that worried about losing cash or being robbed, then you got bigger problems.
4. If you buy with a credit card, you leave paper trail. That's reason enough not to use it. If you buy with cash, nobody knows what you bought, where, and when.
I can give you a million reasons why buying with cash is better. For starters, it teaches you financial responsibility. And you can purchase many things without anybody knowing, including Uncle Sam - there are obvious reasons why this is important; use your imagination.
Your arguments are weak sauce. They sound more like excuses. Like most, you're just afraid to use cash because it requires being more responsible and less spendy.
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Don't bother. They won't get it.
You're basically telling zombies not to be zombies. Most people are brainwashed and absolutely addicted to credit like they are to FB and Instagram. They don't understand the benefits of cash.
When hard times come (and they will, since the probability of another financial meltdown is higher today than it was in 2007), these people will be the first to go broke.
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I'm looking forward to applying to this. I've never had a credit card before, and I'd like to start building credit. The integration of this card would be super convenient, and I'd really like the rewards since I buy a lot of Apple products and use Apple Pay 75% of the time. I know there are better cards out there for rewards, but the integration with iOS is worth it to me.
This is 100% right. The people arguing this are 20 year old idiots that have no idea how to properly manage their finances. Using a credit card for everything and paying it off every month is one of the best things you can do financially for many reasons.
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Because you will earn more money in cash back on the CC than you will earn interest on the money in your savings account. I literally pay for ALL of Xmas with the money I get back on my CC and I have a wife and 3 children.
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If you think this is a possibility then you should by no means be buying $2000 macs.
I did the same thing. If you they do away with it at Barclaycard, hopefully they offer another account with cash back or miles or something.
I think we've given it our best shot with these (other, not you) posters. Granted it took me a few years to come around to the idea that I could/have become richer by using credit. It goes against what we were initially taught 20 years ago, and some people really don't like change.
Says the one who subjects himself/herself to credit card laws lol. Oh the irony.
Sounds like you're looking for excuses, as well.