Chase Sapphire reserve offers the best purchase protection plan. The lower end chase cards also offer the same features but for less protection (1000 vs 500 if I remember correctly).
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Who took out a loan to buy the X?
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Chase Sapphire reserve offers the best purchase protection plan. The lower end chase cards also offer the same features but for less protection (1000 vs 500 if I remember correctly).
Ah. I have the Sapphire Preferred. Going with Reserve next year. Just took a week long trip to FL for free with Sapphire
I haven't looked into electronic purchase protection on either to be honest though. My family cell plan has family insurance because of how large it is, so I never really thought about it. I'll have to look into it. Side Note: Do you use the Freedom card in conjunction with your Reserve?
I actually have the CSR, CSP, and Freedom. I plan to get rid of the CSR next year b/c didn't find the fee worth it in the long term, although I will come out significantly ahead after the 100k points, free Global entry, lounge access, $300 travel comp/per year for 3 years total, and 1.5x point conversion value.Ah. I have the Sapphire Preferred. Going with Reserve next year. Just took a week long trip to FL for free with Sapphire
Side Note: Do you use the Freedom card in conjunction with your Reserve?
So I actually bought the phone with my CSP card which also offer the purchase protection and free extra one year insurance on the phone.
The chase freedom is my longest held card and I have no plans to ever get rid of it as long as they have the rotation 5% cash back categories.
0% interest loan is still a monthly installment payment in my book. It adds what? , near $50 to your monthly bill for two years for the X with all the storage. I believe it does entice people to commit to that 2 years of extra payment without much thought about it. If you can afford the payment yet can't afford to buy it outright there is something out of balance IMO. But rock on, Apple's latest, Gotta have it.
Any time you can borrow money at an interest rate lower than the expected rate of inflation, do it.
Product extended warranties are a scam to lighten your wallet. This was your lesson.
Installment plan is a loan. Someone else lends you the money, paying Apple in your inability or non-preference to.
Not everyone can afford to drop $1K+ immediately on a phone. That's why the installment plans exist (which IS still a loan), plus they are interest free.
On the flip side, I get a (free) extra year of warranty using Discover card for a full purchase, so that's the route I went for both of my orders.
It's just about what you can financially handle. Not everyone is rocking the same boat. Nothing "wild" about it.
On the flip side, I get a (free) extra year of warranty using Discover card for a full purchase, so that's the route I went for both of my orders.
It's just about what you can financially handle. Not everyone is rocking the same boat. Nothing "wild" about it.
What the difference $999 now or $41.63 per month? SAME exact $999 you pay for the phone.
Except with carrier financing you have the option to turn it in after 12 months and get next year's model. No dealing with ebay or paypal scams etc to sell the phone. If you want to sell it privately buy out the last 12 months (STILL the same $999 total) and sell it off yourself like anyone who paid it up front.
Further, being on my bill monthly my Chase business credit card gives me 5% off "utilities" like ATT and Comcast. So I get 5% cash back each monthly payment in essence doing so (on top of off my service portion of the bill). The card doesn't differentiate the service from the phone installment, 5% off the grand total monthly bill.
$2.08/monthly saved on the device is $50 cash back off the price off $999 after 2 years. Wouldn't get that otherwise as buying a phone outright doesnt count in the 5% category. Pay all cards off every month and no interest, so it's free money.
Neither route is "wrong" despite what a few elitists here claim.
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I meant i would never take out a regular loan (from a bank), meaning you pay interest. Although the installment plan IS a loan, you do not pay interest, and it’s most well known as an installment plan from the carrier.
Lots of people are participating in the various 0% installment plans. But you say you’re not talking about that... I can’t picture even one person taking out an interest based bank loan for a phone. I can’t even imagine a bank offering one.
So basically you’re asking who put the phone on a credit card. And you wonder why some people think this is a dumb topic...
People put crap on credit cards a million times a second.
So basically you’re asking who put the phone on a credit card. And you wonder why some people think this is a dumb topic...
People put crap on credit cards a million times a second.
Have the cash to pay in full, but I've become an IUP customer.
The desire to have positive credit lines (with timely payments and longstanding history) on my credit report + the ability to get a new phone every year without much of hassle outweighs my need to pay in full and own something that depreciates at incredible speed.
Although, if I had a signup bonus to hit on a credit card, I would have charged it in full and just paid it off a few days later.
The desire to have positive credit lines (with timely payments and longstanding history) on my credit report + the ability to get a new phone every year without much of hassle outweighs my need to pay in full and own something that depreciates at incredible speed.
Although, if I had a signup bonus to hit on a credit card, I would have charged it in full and just paid it off a few days later.
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I have the Wells Fargo cash wise card (which I only use to pay my cellphone bill) and it comes with free phone insurance. No need for AppleCare.
Apple refers to the iUP program as a loan. So he is probably referring to that, using the terminology Apple does.
That sounds nice, until they open up bogus accounts in your name. WFC couldn't give me enough incentives to sign up with them. Probably the most deceitful bankers out there in modern times.
"The guy who said All us hard working people who have installment plans shouldn’t even be getting phones... well I have 2 kids, raising by my self and no I don’t have $1500 up front when I need to buy food and gas. So if you feel the same with that guy then you know where you can go to too! He!!"
I agree. I'm in the same boat. I just this the audacity of this loon is unbelievable.
I agree. I'm in the same boat. I just this the audacity of this loon is unbelievable.
Maybe you should be more worried about the welfare of your 2 kids, feeding them, school, their activities. Living paycheck to paycheck... yet buying into fashionista factory line produced luxury tech items that will crash in value, when scraping by on basics of life doesn’t seem... wise.
I applaud your excellent advice on my life - as you've never met me or know anything about me, I have to admire your gumption. I don't have children. I'm in grad school, which is not a cheap endeavor. But thank you for your guidance on my life and how I spend my money. I will take it to heart and put the needs and welfare of my children (that I don't have) before my own.
Good thing you're in grad school, maybe you'll learn some writing and reading comprehension