How would something like purchase protection even work with a cash only system? There are no ways to reverse the transaction once the cash is with the merchant.
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Apple Working on 'Apple Pay Later' Feature With Monthly Installments for Apple Pay Purchases
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I think people really take this cash is king literally. Of course you can use credit and earn rewards, buy a house with a cheap mortgage (or multiple homes even.) Cash is king if you know how to use it properly. These credit programs are great for people WITH CASH. The truth is, you can look at many historical charts, people end up in debt and aren’t financially as responsible in many cases. Of course there are exceptions. If you think of it as ONLY using cash, you’re obviously not thinking about it correctly.
I'd imagine it would probably work like an insurance based system, like an extended warranty. So you'd pay up front for a purchase protection plan and if it triggers, you'd have to file a claim. That would start a recovery process.
Since it's opt-in, no one would actually sign up for it so it would be very expensive and probably fail in a year or so.
"You are thinking of it wrong"...
Cash is physical money. Having money on your bank account is not having cash, it's having money.
When the grid goes down, you will be out of your own money.
Always have cash reserves.
Always have cash reserves.
Money which can easily be converted to cash, legal tender.
Historically, the more options people have to not pay for something now (like an iPhone or depreciating electronic device) usually results in more accumulation of debt and interest charges. Smart thing would be to buy these items knowing you have the cash available to pay it off without incurring additional interest charges and using that cash in the meantime to make more cash.
the end.
For short term outages, absolutely. Always have some cash on hand.
When it hits the fan, not so much. Cash would become useless pretty quickly after a week or two. When that happens, get ready to barter goods. Hope you used that cash to buy tradeble items before that happens.
Obviously, I read too many post apocalyptic novels.
I got a huge discount by buying my house with cash because the seller didn't have to wait for other buyers' mortgage stuff to get approved. They needed money for a down payment on something else and waiting for a financed buyer meant they might have missed out on the other house. Their impatience cost them money and put dollars back into my pocket. Plus no interest for me. And the house has tripled in value since I bought it. So, I see no real downside to buying with cash if you can. Cash can give you the ability to take advantage of opportunities quickly. But what works for me may not work for you.
But again that's still not cash until you have your physical money in hand. It's digital money up until that point.
And your digital money would also not be available if "the grid", as RiddlaBronc put it, went down.
I’ve used Klarna’s pay in 4 and there’s no interest charged. The principal is paid off in 6 weeks (the first installment is due at signing) and then you’re done. One of the lesser forms evil when it comes to credit and definitely helps in a pinch.
That's absolutely true. I think some people take personal finance as some kind of religion. The no-debters, the whats-cashers. But cash or debt or credit cards or debit cards, they're all just financial tools. Use the right tool for the right situation.
Pay in 4 doesn't really help anything. Your credit card gets dinged every two weeks so it amounts to paying for half of something this month and the rest of it the next. I tried out PayPal's version, it seems like a way to obfuscate what you purchased to those who overlook your bill.
Apple will offer additional AppleCare service options and purchase discounts for long term Apple Pay user with good credit score.
No cash isn’t king. Credit card rewards are. All you need is the discipline to pay your purchases off because like Apple Card I get the 3% on Apple Products. All I have to do is save for that purchase buy it and as soon as it clears then I pay it off. Plus a lot of credit cards will offer a credit to your account if you pay one bill. We have made a ton off of the rewards. If you carry a balance then that’s on you.100% it is
I will oppose such finance programs myself no matter what and pay in full whenever possible. No need to suck myself into having hundreds of bills to pay and no income. What’s clear is what’s clear. Stop haunting me.
Thankfully apple can’t really “monopolise” financial market and credit card market, at least yet, otherwise I’d suspect a lot of Apple customers would abandon their bank and go for Apple Card exclusively.
Thankfully apple can’t really “monopolise” financial market and credit card market, at least yet, otherwise I’d suspect a lot of Apple customers would abandon their bank and go for Apple Card exclusively.
“Buy now, pay later” sounds good and is a step in the right direction but I’ll pass until we get to the ”buy now, pay never” stage.
Can I ask why you’d think that. It is is giving more people other options to pay for Apple products and that increases Apple sales.
“All I have to do is save for that purchase” what did you save? Cash I assume. Cash is king. The cash gave you the opportunity to earn those rewards. You wouldn’t earn a reward without having cash.
“If you carry a balance then that’s on you.” - take a look at the credit card interest profit balance sheet of ANY major bank credit card issuer including Goldman Sachs (Apple Card).
If you are having to make payments on a credit card, you’re using it wrong.
also yes, Johnny Cash is king, he made very good music.
There’s two types of people, those who refer to paper money as cash, and those who refer to money as a whole as cash.
People with a million dollars cash generally will still spend using credit cards.