Rod Stewart in Kaohsiung (CANCELLED)

Surely you must be able to see the value in owning something for a couple of months earlier due to the fact that you were able to pay for it with a credit card?

If I waited 3 months until I had enough money to purchase the latest iPhone rather than buy it with a credit card right when it comes out, for example, then I missed out on 3 months of ownership only to end up spending the same amount of money on it 3 months later.

Of course, you need to take into account the credit card interest paid during those 3 months. For most credit cards, the interest over 3 months for a US$600 iPhone is minuscule. Many credit cards today even offer interest-free for the first year.

Credit cards were also valuable to me back when I was just out of college living paycheck to paycheck. Sometimes I couldn’t pay my bills with my debit card because of odd timing of the paychecks, but I had a credit card to pay with, so the odd timing didn’t affect me.

But if you bought it 3 months later, you wouldnt need to buy the next one until 3 months later. So the money you pay and the amount of time you use the phone is the same.

Assuming you buy a new phone when the old one is too slow/ battery is gone.

Battery life usually outlasts speed, so that’s usually not a factor when upgrading phones. My two-year-old iPhone 13 is starting to show its age due to noticeably slower speeds, but the battery health is still at 87% capacity. When the slower speed becomes unusable for me in another year (let’s say), the battery health will still be plenty good.

Most people get new phones when they realize their phone is too slow to handle the latest OS release, and the OS release happens to everybody at the same time weather you bought it 3 months later.

Not really, if I didn’t have the money I would be wondering while I needed it. Even interest free I don’t like owing for something I could just wait for. And I sort of like owning slightly older stuff and faffing with it.

Well, in that case it probably makes more sense to buy old stuff with cash.

I’d say most people still prefer owning new stuff though, and probably have a stable enough income that they don’t need to wonder if they’ll be able to pay off their credit card bills.

In fact, I’d say most people would probably appreciate paying a smaller monthly payment regularly, rather than a big chuck of their savings all at once – even if the net result is having to pay interest. So I’d say there is generally still value in having credit cards.

I have a pretty stable income, same company for 13 years even when I move around.

What’s the point of having savings if you can’t spend them when you need them?
Maybe just to have it all burnt at my funeral?

Cash, online banking, ATM transfers etc. Big purchases usually TT or LC. If a credit card is ever needed, my Taiwanese wife has em. They give them to her every chance they get. They tell me they don’t give them to foreigners and I walk away slighted offended haha.

Erh no… one credit card from Australia I have had for over 40 years… one one HSBC HK which I got recently… One Fubon Costco card got in for August last year one CTCB China airlines card from June last year and one Cathay Cube card which was the handover from them losing the Coscto service. Had Cathay card since maybe 2011 maybe.