To a lot of people, a debit card is the same as cash. Most people when they’re talking about cash, they’re just talking about money that is all yours, as opposed to a credit card, not necessarily paper currency.
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Apple Working on 'Apple Pay Later' Feature With Monthly Installments for Apple Pay Purchases
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If the grid goes down, your money probably will worth nothing anyways. Either riots would happen, or stores just wouldn’t sell you anything anyway since well, regardless of how you pay in a modern store, the items are logged using computers. Inventory control.
I normally see these better then credit card debt. I done a couple pay in four that where zero% breaks up but cost me any extra
Facts. 👍 I’m not in the paper money as cash crew. My bad if that’s confusing to some! Thanks for clarifying.
I pay my card off every month. No interest loans that allow you to pay something off over time is a no brainer. Obviously if you can’t afford to pay off a credit card bill each month then you probably shouldn’t be buying expensive electronics in the first place.
I feel like I’m probably asking a silly question here, but what’s the benefit of this over, say, just putting in on your Apple Card (assuming this is available in the same countries)? You can pay that off over time too, so the effect is identical isn’t it?
I purchased a new iPad Pro. I’m paying it off over 24 months via my Apple Card. My credit score actually went up a point within the last month.
Absolutely right. It’s just not as obvious as we’d think. Some friends I know are obviously buying only what they can afford. Others have paid their MacBook Pro off 3+ times in interest fees. 🤦♂️
well, there are dozens of reasons why your credit score can go up a point, i doubt it's related to your ipad purchase. from what i've seen — your score starts to go down when you have about 20-30 percent of your credit limit "used up".
This facilitation by a mega-corporation of enabling people to get into consumer debt is really distasteful IMO.
No one else sees this whole move of apple into the financial services as "jumping the shark"?
Sure it will make them money, but is that what they want their legacy to be?
No one else sees this whole move of apple into the financial services as "jumping the shark"?
Sure it will make them money, but is that what they want their legacy to be?
Is this only US? Would be great to see them add all of this in Canada.
I understand the solid advice of paying it all in one shot or not buying it at all… but in my experience if I can buy it today and deplete that chunk of money in one shot or do it in 12 payments without penalty (and actually cash back rewards, extended warranties and/or other discounts) I would rather do the latter just in case. Not only that, the last payment at the 12th month is actually cheaper at that time (even if it is the same amount dollar for dollar).
Currently I find myself buying something and spending thousands of dollars on the credit card to then pay it all in one chunk before the cutoff day to not leave any pending interest generating balances anyways.
I understand the solid advice of paying it all in one shot or not buying it at all… but in my experience if I can buy it today and deplete that chunk of money in one shot or do it in 12 payments without penalty (and actually cash back rewards, extended warranties and/or other discounts) I would rather do the latter just in case. Not only that, the last payment at the 12th month is actually cheaper at that time (even if it is the same amount dollar for dollar).
Currently I find myself buying something and spending thousands of dollars on the credit card to then pay it all in one chunk before the cutoff day to not leave any pending interest generating balances anyways.
I think the 4 payments with no interest is outstanding (assuming first payment starts 2 weeks from purchase).
The big question is, does the 4 payments every two weeks still get 2% cash back? I assume it does. Then Why pay all up front at end of the month when it’s best to use the 4 payments no interest plan — it is free money. It won’t be much (.05% per extra month money sits in Ally savings) but many people make the mistake (not directed at you) of scoffing at a few dollars while missing the point of the cumulative process over years. It’s of the dozen ways to gather these small freebies at no cost or trouble that can add up (again at no cost or trouble to the saver).
To All: Dont accumulate CC debt. I like that Apple puts in its charge message to the cc holder spelling out the interest and how it will really extend payments. Good, see, even they are informing you that a 1000 item will cost potentially double. They then don’t care at that point, you the cc holder need to.
Just a warning, in my country we have this installment system for almost every consumer product since like forever.
One thing you guys should keep an eye, prices can get higher. The seller usually pays a higher fee for the credit card brand. This created two price structures, one with installments and other lower in cash or debit.
One thing you guys should keep an eye, prices can get higher. The seller usually pays a higher fee for the credit card brand. This created two price structures, one with installments and other lower in cash or debit.
Managed debt
Rich Dad, Poor Dad lessons 101.
2 B real Apple, even internally, reds to come up with better names at times.
hinestly in this era there are MUCh better business in Fintech that are much better than traditional banks, and much lower interest rates beyond 5yrs
Imagine a system where you could use your card to pay for stuff in a shop. You could pay if you had money in your bank. The shops did not have a jungle of discounts where you would have to cut out coupons, tag your teachers dog on Facebook, post a stupid selfy or get cash back because they had a special arrangement with some banks. Your neighbors bank, but not yours. Neither did the shops pay any fees to whoever issued your card. Nor did they need to pay for printing adds and coupons. Without all of these special deals and expenses, shops could sell stuff cheaper to all customers and not only those rich enough to get credit approval. Neither did you need to think about paying back at the end of the month.
If you wanted to buy more than you could afford you would go to the bank who would then give you a loan, granted that they could take that car or house from you if you missed the payments. And they would carefully look at your economy and ability to pay, without speculating in possible changes in housing prices. You would get a fixed interest rate for the entire life time of the loan and you would actually have to pay back.
If you wanted to buy more than you could afford you would go to the bank who would then give you a loan, granted that they could take that car or house from you if you missed the payments. And they would carefully look at your economy and ability to pay, without speculating in possible changes in housing prices. You would get a fixed interest rate for the entire life time of the loan and you would actually have to pay back.
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