[Maestro]

Originally Posted by Run Silent

LOL. Well, actually, that isn't finance 101. Finance 101 would have taught you that you have to factor in a Rp in that equation, typically negating the gains you earned that were offset by the interest on the house and cars.

But hey, what do I know right? Certainly wouldn't have anything to do with my profession or anything?

Actually I did NPV on a loan verses investing including the tax deduction for mortgage interest. I can take $40K to pay cash for a car or with a right investment I can easily turn 30% or 40% in a year, while paying 2.9% or 3.9% on a car loan for 3 or 4 years. Yes I know not all investment turn a positive, but overall I am far ahead of any interest I have every paid by putting the capital into the market over time verses tying it up in fix asset.

Even if all you did was match the market at an average of 11% YoY growth over the long range, that is better return than not paying 3% or 4% on a mortgage interest.

Yes its a different story if you can pay cash for everything and still have money left over every month to put it into the market.

[infinitekidM2C]

I can impress people i don't know when they see my apple credit card. That's all that matters to me!

[NEfan508]

Originally Posted by qba335i

Another failed idea. Mediocre card that looks "cool" and offers sub-par benefits.

Recommended: Chase Sapphire Reserve + Amex Blue Cash Preferred.

Apple Card isn't appealing to me, it's meh at best, how many apple products do I really buy? $500 to $1k every couple years?

My #1 card Sapphire Reserve $450 annual fee but $300 In travel credits ANY travel related expenses (tolls/fast pass) too

Included benefits:
Rental car insurance (primary)
travel insurance, trip delay reimbursement
Priority pass (airport lounge access)
and more features

if you travel and eat out a lot this is the card just pay your balance off monthly, smh how people still use debit cards

I'll only open up a card if I get $500+ value out of it, if not it's a pass

Edit: I sound like I'm pimping chase, I'm not, Everyone spends differently, figure out your pattern

[RickFLM4]

Originally Posted by JasonCSU

Well for me, and I assume many others, I use my cards for everyday purchases like gas, groceries, dining out, and bills that don't charge additional fees for using a card. Depending on the card, I am getting between 2-5% back on those purchases which definitely adds up over time.

There are other benefits in addition to the cash back and travel points. For example, the credit card companies have been really good at handling any fraudulent purchases when things get hacked, which is inevitable these days. Other protections like insurance on rental cars and various other travel related things is useful as well.

This is what I do as well. Gas, groceries, phone bill, auto insurance, etc. I just pay off every month before the statements drop. Yes it takes some effort to remember which card gives max benefit, but it does add up and is well worth it to me.

I don’t really see any reason to get the Apple Card.

[King Rudi]

Originally Posted by Haywood

But, it is susceptible to catching on fire!

Those are just the chances one takes for cutting edge credit technology.

[rad doc]

Originally Posted by Run Silent

Because, in general, the standard % back on most cards doesn't really make it worth the hassle.

I don't really have any bills and most places like the utility company or water company charge a 2% convenience fee to use a CC, negating any gains. Wife and I don't really spend much money. When we do make a big purchase, like travel, we will open a card to get the 'introductory' offers and then cancel them.

The only card I actually use is my bank CC, which gives me 3% back on gas. I pay it off every Friday, lol.

That adds up to a little bit, but not much - something like $70 a year.

You're not doing it right, lol! None of my bills charge a fee for cc. Electric, gas, water, home/disability/auto insurance, hoa, tuition, internet, cable, cellphone. Chase points paid for our roundtrip first class international airline tickets which would have cost us 32k. I would say that was worth it!!

[kscarrol]

Not totally disagreeing as card can definitely be used wisely but my cell phone (Verizon), local utility and both my sons schools (high school and university) charge a fee for using CC’s to pay, negating any real benefit from paying those bills...

[EDWYER]

Originally Posted by Now_Rudi

This is so Apple. I was on their beta testing team for their new underwear....iDrawers. They did recommend that it did not come in contact with human skin or cotton of any kind.

[M_Six]

My Amazon Visa had to be replaced because the facing was separating from the thin metal base. I don't need a cool looking card. I just want it to work and benefit me.

Side rant: I was behind a woman today checking out at the lunch counter who wasted 5 minutes of my time digging for exact change. WTF? Either deal with the change you get back from cash or use a credit card. Cash money should be resigned to the trash heap along with checks.

[Rmtt]

Originally Posted by Run Silent

Because, in general, the standard % back on most cards doesn't really make it worth the hassle.

I don't really have any bills and most places like the utility company or water company charge a 2% convenience fee to use a CC, negating any gains. Wife and I don't really spend much money. When we do make a big purchase, like travel, we will open a card to get the 'introductory' offers and then cancel them.

The only card I actually use is my bank CC, which gives me 3% back on gas. I pay it off every Friday, lol.

That adds up to a little bit, but not much - something like $70 a year.

Same here! Lol I'm a cheap was....maybe that's why work has me doing most of their purchases and I'm a plant engineer.

All our bills are paid for, we a an emergency fund of almost 18 months saved, and any extra income/incentives I get go into some type of retirement fund.

I look at it now that if it's a "want" and we can't outright buy it...than we didn't need it.

Only took the wife a few years to come to that way of thinking.

And with that one personal card I have, depending on when corporate cuts checks, they pay any fees incurred so it's paid off monthly.

Now I admit it's not used quite as much as it was in the past. Biggest single purchase I ever made with it was $37K at a plant auctioning off equipment.

These last few years I've only averaged maybe $7K-$10K a year on it.

[Rmtt]

Originally Posted by Maestro

Wish I could say I paid cash for everything and never paid a dime in interest. But took money which I could have paid cash for the house and cars and put in the market and made far more money in the market each year than the interest I every paid. This is finance 101.

I have not paid CC interest in over 25 yrs and I use a CC all the time, with the point they are paying me to spend money for things I would have top buy anyway. The CC company loan me money for 30 days and pay me to load it to me, what could be better. Especially when we use it for work travel expenses. Keep in mind most place do not give cash discounts when you buy something and they already factor the CC fees into purchase price.

That's perfectly fine if you used it to leverage investments elsewhere. I did finance my home, but with a 15 year loan and paid it off early. Last car we bought I was offered financing at 1.7%, but we bought it outright.

But following through with what you said is the key. Most people don't and the money ends up going to something else.

My brother is a perfect example. He would do this stating the same thing, but the monthly contributions to any investment he may have gets spent on something else that he just had to have.

His thinking is oh well, I will catch it up next month.

[rad doc]

Originally Posted by Rmtt

Same here! Lol I'm a cheap was....maybe that's why work has me doing most of their purchases and I'm a plant engineer.

All our bills are paid for, we a an emergency fund of almost 18 months saved, and any extra income/incentives I get go into some type of retirement fund.

I look at it now that if it's a "want" and we can't outright buy it...than we didn't need it.

Only took the wife a few years to come to that way of thinking.

And with that one personal card I have, depending on when corporate cuts checks, they pay any fees incurred so it's paid off monthly.

Now I admit it's not used quite as much as it was in the past. Biggest single purchase I ever made with it was $37K at a plant auctioning off equipment.

These last few years I've only averaged maybe $7K-$10K a year on it.

It makes me laugh when i hear the "We dont use credit cards" humblebrag. You really are missing tons of benefits and freebies. Not to mention I would hate to use my debit account for all purchases. I find credit card companies are much easier to work with for fraud and chargebacks.

As to the fees, most will wave the fees if you are a good enough customer. Smart usage and we haven't paid for a plane tickets in years. For example, just booked last minute flight to nyc. Free with points vs 650 per. Saved on baggage charges too. We come out way ahead yearly.

[JohnnyCanuck]

Originally Posted by rad doc

It makes me laugh when i hear the "We dont use credit cards" humblebrag. You really are missing tons of benefits and freebies. Not to mention I would hate to use my debit account for all purchases. I find credit card companies are much easier to work with for fraud and chargebacks.

As to the fees, most will wave the fees if you are a good enough customer. Smart usage and we haven't paid for a plane tickets in years. For example, just booked last minute flight to nyc. Free with points vs 650 per. Saved on baggage charges too. We come out way ahead yearly.

^This. Rental car insurance, purchase protection, extended warranty, flight cancellation insurance, points that can be used for just about anything ... and, no fees because of the amount of business we do with that bank.

You pay interest if you carry a balance. Entirely within your control. We don't carry balances on our cards, but we do enjoy the perks.

[N54Yankee]

Originally Posted by Rmtt

Call me old-fashioned, but we don't even have credit cards aside from one that I got from Citi-Bank years and years ago to use for work. It's so old, they constantly try to get me to "upgrade" to a newer card.

But this card has "perks" that are no longer offered such as covering any gap on insurance on a rental vehicle, and "cash-back" in the form of gift cards to all kinds of merchants.

When used for work, I make some pretty big purchases and get points for that...then get points for paying it off. My work let's me keep any benefits that come along with it.

I was the same till my wife showed me the way. Hawaiian Airline cards and we pretty much fly for free annually from JFK to Hawaii. Put a lot of our purchases on the cards and pay in full every month. Other then the minimal annual fees they don’t make a dime off us.

[Darth One]

These credit card threads always turn into a fight between the people who brag about their cc perks and the people who remember the Great Depression when they couldn't get their money out of the banks

[ASAP]

Originally Posted by NEfan508

Apple Card isn't appealing to me, it's meh at best, how many apple products do I really buy? $500 to $1k every couple years?

My #1 card Sapphire Reserve $450 annual fee but $300 In travel credits ANY travel related expenses (tolls/fast pass) too

Included benefits:
Rental car insurance (primary)
travel insurance, trip delay reimbursement
Priority pass (airport lounge access)
and more features

if you travel and eat out a lot this is the card just pay your balance off monthly, smh how people still use debit cards

I'll only open up a card if I get $500+ value out of it, if not it's a pass

Edit: I sound like I'm pimping chase, I'm not, Everyone spends differently, figure out your pattern

I agree on this one... my reserve at this point has now made me over a few thousand dollars over the years... it's effectively a $150 a year card that offers tremendous benefits for anyone that ever travels or eats out.

[Drv4fun]

Im not sure I want to share credit and private info with Apple (and GS).

[Rmtt]

Originally Posted by rad doc

It makes me laugh when i hear the "We dont use credit cards" humblebrag. You really are missing tons of benefits and freebies. Not to mention I would hate to use my debit account for all purchases. I find credit card companies are much easier to work with for fraud and chargebacks.

As to the fees, most will wave the fees if you are a good enough customer. Smart usage and we haven't paid for a plane tickets in years. For example, just booked last minute flight to nyc. Free with points vs 650 per. Saved on baggage charges too. We come out way ahead yearly.

I mentioned I have one card that I do use for big purchases to get the perks and benefits it does offer.

But I just don't use a CC like most people. Not bragging, it's just that we really don't buy a lot and lead pretty simple lives.

I guess a lot has to do with how you are raised.

[Rmtt]

Originally Posted by N54Yankee

I was the same till my wife showed me the way. Hawaiian Airline cards and we pretty much fly for free annually from JFK to Hawaii. Put a lot of our purchases on the cards and pay in full every month. Other then the minimal annual fees they don’t make a dime off us.

Problem with me in that situation is that my wife likes to buy more than I like to pay for each month.

[P1]

There’s literally zero point in having this card.

[bimmer456]

If you're planning on getting an iPhone or MacBook or iPad you can get it just for that. Also 2 percent anywhere that accepts Apple Pay like Trader Joe's. Getting 3 percent on refurbished stick seems like a good deal. Some Visa Signature cards might pay more though and you get extended warranty and 90 days insurance. They should add an option to earn miles or balance transfers with no fee. They will need to add more cash back offers to be competitive or I will still use my other cards for regular non Apple Pay purchases since I can get better than 1 percent base cash back.

[bimmer456]

Originally Posted by ASAP

I agree on this one... my reserve at this point has now made me over a few thousand dollars over the years... it's effectively a $150 a year card that offers tremendous benefits for anyone that ever travels or eats out.

I have BofA travel rewards no annual fee. Get 75 percent bonus points on top of base points better than capitol one venture card with $49 fee. Apple should allow earning points for travel or daily cash.