Soon you will be able to view your personal debt in AR.
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Apple Pay Later Launching 'Soon'
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This is why I don't understand items being status symbol. Maybe a symbol of being buried in debt?
Exactly I just read an artcle about BNPL where they say some of the blame should be on the merchants and the BNPL businesses
Yea how low of a score can you still qualify? I also think it's dumb that except mortgage, theres zero DTI checks. And I think it should even go further to be Credit Limits to Income checks.
The same thing any consumer credit service does, charge interest which will only ballon the debt if they still can't pay in a timely manner. At some point someone will service the debt... that includes eventually taking the customer to collections and or court. That's why financial decisions to pay later/ take out a loan, need to be weighed with how likely they'll be able to make ongoing split up payments.
Apple wants people to use this as a convenience (not paying so much all at once). The problem is that some of the people who typically use these types of plans are more desperate to "get now" and less likely to "pay later."
Well with all those that I've mentioned, regardless of the USA being more friendly to financial dealings for business, doesn't mean Apple had to make announcements right away but wait until all ducks are in a row. NDA's and such.
AirDrop yeah that was OS wide when introduce, the improvement was China due to gov dealings being leaked out and thus CCP put an stop to it.
Bro ... LOVED this in SpaceBalls!!!
Best Abbott & Costello catch line of play on words in decades since B&W TV.
I had forgotten about this but loved it.
Well that’s the irony of the whole financial system, isn’t it? People with good credit have good credit because they have more money than debt and have been shown to be capable of handling debt responsibly.
The rich get rewarded with higher interest rates, paid for by the poor. The system is designed for the poor to stay poor and the rich to get richer.
There are all kinds of reasons for this both personal and systemic, but BNPL services exist to enrich the creditor. There’s simply no other reason for them to exist.
It’s a cultural thing. In America the idea of success for many people is the accumulation of things. Conspicuous consumption. The thing is, since the consumption is so visible, these people are held up as an example of “success” and “achieving the dream.” Quiet millionaires are less exciting and weaker for the marketing departments of brands. It’s all a mindset.
Opioids are addictions. So are overeating, gambling, and overspending. They are all issues that need to be addressed, and honestly I would avoid blaming the victims, saying they are just people who lack self control. When you’re in an environment where it is designed to attract you to do certain things, people will fall for those traps.
You can’t look at the obesity rate and accuse those people of being lazy when every store we have nowadays have sweets and fattening food ready at the check out. Similarly, you can’t simply blame those getting themselves in debt when companies are coming up with different ways to have you spend now and worry about it later. It may not be immoral what they’re doing, but it certainly does not help.
And to be fair, I’m not against this service. I don’t have strong opinions about it honestly. But I do get the concern of this contributing to the epidemic of overspending in this country. And simply blaming those who are suffering from it is quite ignorant. You can make the same argument for almost anyone in a bad situation, saying they deserve it, but it’s not helpful to the situation at all.
This is not about anyone trying to babysit anyone else. You, as someone who manages your finance well, still have every option to utilize services like this to pay later. However, I respectfully think some more sensitivity on your part would be nice.
While sensitivity would be nice, it is not something I really need to provide. Perhaps there is a place for both voices. You give the sensitivity and understanding, and I’ll provide the bitter medicine. Then someone, hopefully, will make choices that land in the middle.
Sure there are bad choices available at every store. There are also good ones available. Packaging is eye catching and attractive. You know what is attractive? Health. You know what is not attractive? Personal effort. That is why I have little patience for people who eat fast food all the time while also going to absurd lengths to try to appear healthier than they are via makeup, filters, spanx, etc. and then complain about how “the system” or “society” makes it “impossible” for them. They actively seek shortcuts, instant gratification and do their best to avoid work and patience.
The same thing with this service. Not having something for now, considering if you really have a sensible use case for it, and putting off other splurges to save for buying this are just not as “fun.” Sensible adults, however, understand that money and time are finite, and that if you want something, you may not get something else as well.
The environment around it is not only designed to make these people make bad choices. We have open spaces, paved roads, parks and sidewalks. There is an immense amount of land and sky to observe. Also, I think there is nothing gained by referring to these people as victims. That infantilizes them when they always had agency.
Do you think Apple is going to wait years for other countries red tape, and delay the launch of a product or service just so they can launch it simultaneously worldwide and lose money? If that's what you're saying that's not going to happen, because when it comes down to it, Apple is a business and they're not going to leave money on the table for no reason
I know this... My bad attempt at a joke went over your head I guess.
I chose $500 since I don’t really plan to use it and have an Apple Card. It did require me to unfreeze my credit, but it was quick approval.
30 days. Apparently it reports as a loan on your credit after you make your first purchase and pay it off, so I'm not actually going to use it, since I don't need it. To determine how much you quality (up to 1,000) they do a soft pull. Every 30 days you have to repeat that process. I think a good credit card will be a better option for most people.
I second that.
Thank you for your reply, I was curious ^^
That's cool if it actually reports. I would have to see if Affirm or Afterpay do this. I wonder what category it shows as too, CC or Installment
According to Apple they will. I don't want these reported on my credit, and I don't need to improve my score at all, so I don't plan to test the feature at this point. However, for someone trying to build credit, it could be a good option. These would likely report as a loan (installment).
Apple introduces Apple Pay Later
Apple today introduced Apple Pay Later, which allows users to split purchases into four payments, spread over six weeks with no interest and no fees.
www.apple.com