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Thread: iPhone Owners Have Highest Credit Card Balances

  1. #21
    iPhone? More like MyPhone
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    OMG...I'm one of them.

  2. #22
    Quote Originally Posted by Mes View Post
    ... Hmm. How how many does it take to be a representative sample?
    They "self-selected" by using the app. An approach that would be more random would be throwing darts at a zipcode map. Many, many times.
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  4. #23
    Quote Originally Posted by Helvin View Post
    They explained exactly how they got the data. Pageonce has apps available on these platforms to manage your finances. They do this by having the user add their credit card accounts to the app, then the app keeps you up to date with your bills and credit card balances.
    That doesn't explain at all why would people be stupid enough to let some farking company have access to their private data. I bet nobody read the small print which probably says somewhere that the application spies on its user by surreptitiously sending users' data back to the company, supposedly anonymously of course. What a crock, one more reason to have Firewall iP. How dumb people can be?!

  5. #24
    Quote Originally Posted by NumbaOneI View Post

    stats indicate that iphone owners also get laid more often.
    haha whats funny is that horny18 I mean hornet18 thanked this guy...see the relationship?

  6. #25
    i use credit cards for most things, then pay them off the same month. no crazy debt here (besides car note, and mortgage)

  7. #26
    credit is a must. Credit cards are nothing to be afraid of. You just got to know how to manage money. I have a 5k limit on a card sometimes I would charge 2-3k in things but I plan ahead and make I pay it off in no more than 4 months than repeat. Out of that 4 months interest is no more than $100. Getting car loans improve my score too. Start off with cheap used car than after it's paid off sell it and get a new loan. I repeated that 4 times and finally got a new car so I can build my credit.
    Last edited by anekin007; 11-10-2010 at 05:53 AM.

  8. #27
    Quote Originally Posted by CynicalDriver View Post
    I wonder if they're considering debit/bank check card balances as credit balances. That would explain a lot of the higher balances, because I would hope that the average person has at least $1,000 saved for emergencies.

    Credit cards are unhealthy and unfairly used to determine credit scores. You'd be amazed at how hard it is to get a loan when all you borrow money for is a car!! I was told by one bank that I wouldn't qualify for even a $10,000 car... "You have no credit card history, so we view that as high risk."

    WTF?!? I'm high risk? Because I choose to be responsible???

    No wonder the banks needed bailouts. Reverse logic that can only be provided by people who enter the financial career track after college with ZERO real world experience.
    I'm with you on this. I don't use credit cards at all. It's just so much easier and more responsible that way. To all those people saying "well, use one and pay it in full at the end of each month," sure, that's possible, but why the hell should we be forced to use something that has no benefit and makes paying bills and keeping track of finances harder? I keep track of where my account is every day. I don't want to wait for the end of the month to know how much I spent on the card. I want that data right now. That and it's another bill to remember to pay. Why would I want to add to my bills when I can just pay right now.

    And to anekin007, the interest is no more than 100 bucks? How is that a benefit. I could have almost bought 2 brand new video games, or a bunch of CDs or paid one of my student loan bills or bought groceries for a week or two or whatever with that. Why in hell would I want to pay extra for no reason at all. Every time I even think of spreading out a payment over even more than one month I stop myself because I realize that's stupid. I have the money right now. Why would I willingly pay more for whatever it is I'm buying? It has nothing to do with fear. It has to do with practicality and responsibility. Credit cards in my life are completely impractical and irresponsible. Why any loan agency would think differently is beyond me.

  9. #28
    Quote Originally Posted by lungho View Post
    I guess I break the mold on this one because I'm debt free and I own an iPhone. If I don't have the money for it, I don't buy it. Keeping up with the Jones' will get you into more trouble than what it's worth.
    Total agree I don't have a credit card an don't want one




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  10. #29
    Quote Originally Posted by RDreamer View Post
    I'm with you on this. I don't use credit cards at all. It's just so much easier and more responsible that way. To all those people saying "well, use one and pay it in full at the end of each month," sure, that's possible, but why the hell should we be forced to use something that has no benefit and makes paying bills and keeping track of finances harder?

    reward cards have benefits. Using a credit for a purchase actually gives you a lot more recourse against a merchant than cash. No one is forcing you to do anything. But unless you plan on paying cash for a house,car or other things in your life. You need to build a credit history. Most lenders look for credit card history because they are the easiest to get and screw up. So showing responsible usage of credit cards shows them how likely you are to repay any other type of loan you might possibly want. Your student loans are not much different than revolving a balance on a credit card .

  11. #30
    Quote Originally Posted by woolfman72 View Post
    reward cards have benefits. Using a credit for a purchase actually gives you a lot more recourse against a merchant than cash. No one is forcing you to do anything. But unless you plan on paying cash for a house,car or other things in your life. You need to build a credit history. Most lenders look for credit card history because they are the easiest to get and screw up. So showing responsible usage of credit cards shows them how likely you are to repay any other type of loan you might possibly want. Your student loans are not much different than revolving a balance on a credit card .
    Sorry, but since most people do need to buy a car or a house or other things throughout their life, they are forced to use a credit card for the reasons you stated. The whole thing has nothing to do with showing responsibility. It's just a system setup to force everyone to use credit cards so credit card companies make more money.

    And student loans are a bit different in that there was no way I could pay that stuff outright to begin with, and that's what I'd use a credit card for. It's for stuff that you don't have the cash already. Then the extra charges added on for having to pay it over time make sense to me. It doesn't make sense to me to build up a credit debt and keep paying it off month after month and basically be paying more for no other reason than just because. If I have the money in my account right now I want to pay for it right now.

  12. #31
    Quote Originally Posted by RDreamer View Post
    Sorry, but since most people do need to buy a car or a house or other things throughout their life, they are forced to use a credit card for the reasons you stated. The whole thing has nothing to do with showing responsibility. It's just a system setup to force everyone to use credit cards so credit card companies make more money.

    And student loans are a bit different in that there was no way I could pay that stuff outright to begin with, and that's what I'd use a credit card for. It's for stuff that you don't have the cash already. Then the extra charges added on for having to pay it over time make sense to me. It doesn't make sense to me to build up a credit debt and keep paying it off month after month and basically be paying more for no other reason than just because. If I have the money in my account right now I want to pay for it right now.
    Your not forced to use credit it at all . Save your money to buy the house(or just a good enough down payment that the banks feel comfortable enough with the Loan to value to take the risk). Your argument keeps circling back to paying more for using credit. If you Pay in full there are no fees. To me it compares to someone that spends time clipping coupons. I spend a few minutes each week paying bills and in turn I save money/earn rewards. By that extra step of paying the bill with my Credit card and then just turning around and paying the credit card. You actually could be earning free video games or CDs that you would have normally paid for.

    Credit is no different than anything in life. You take a driving test to prove you can drive. You go to school to learn and at the end of it get a diploma to prove you did in fact go to school for something.

    Banks want proof that you have the ability to repay a loan and the only way to really prove that is to have done it. You don't have to USE the credit card on a continual basis. Once every few months for a sandwich or tank of gas. Credit cards are only bad when used wrong.

    They have the money and if you ever need it. (house, car and so on) You pay more if you haven't played the game of credit with them. Anyways enough of beating the dead horse!

    To each his own

  13. #32
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    New study just released: more iPhone users prefer the iPhone vs. Android and blackberry users...

  14. #33
    OS X - excellent enough to put on phones LGgeek's Avatar
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    "iPhone owners carry higher balances" the chart shows "expense", I might have a lot more expense on my credit card ( pay it off every month) but that doesn't imply I "carry" a higher balance month to month. I can't believe these people get paid for producing this kind analysis. I wish i could get a gig like that.
    I don't drink kool-Aid, I don't join cults.
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  15. #34
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    Quote Originally Posted by alexevo View Post
    How are they allowed to publish this data? I have the pageonce app and I have never been asked about using my data even if there isn't anything attached to it as far as my personal information. I'll have to read the terms again but either way this data may not be all that accurate because those iPhone owners could also have higher disposable income that the other groups.
    Good question...guess we should have read the fine print.

  16. #35
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    Smug...
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  17. #36
    Quote Originally Posted by NumbaOneI View Post

    stats indicate that iphone owners also get laid more often.
    That's what your mom told you.

  18. #37
    I have a balance of around ten grand. But 9500 is from my crothc rocket that I purchased on a yamaha card with 1.9% interest so I don't count that one. Credit score is just around 730 last time I checked

  19. #38
    Quote Originally Posted by alexevo View Post
    How are they allowed to publish this data? I have the pageonce app and I have never been asked about using my data even if there isn't anything attached to it as far as my personal information. I'll have to read the terms again but either way this data may not be all that accurate because those iPhone owners could also have higher disposable income that the other groups.
    They wouldn't be in that much debt if they had that much "disposable" income.

  20. #39
    Obviously they're trying to pay off overpriced $1500 laptops.

  21. #40
    Quote Originally Posted by woolfman72 View Post
    This is the downside of paying for everything with cash. Its a known thing that your credit score is all about how well you play with the lenders. Also there is a difference between using credit wisely and not using credit at all. Honestly if you have the mind set to PAY IN FULL every month, Cash is subpar and Credit is the way to go.

    For example as a Best buy manager my wife cannot join the reward zone to be able to earn points on purchases. So we have a rewardzone master card that earns us points. We use it as our ATM card, Its paid in full every month and i just cashed in $250.00 in gift certificates to help out with Christmas(on top of the employee discount). Cash gets you NO rewards. Use credit wisely and your money works even harder for you.
    Cash doesn't have fees, ATM charges, withdrawal/usage limits, the ability to spend more than you have, etc...

    You really think you're getting those "rewards" for free??? You're paying for it, or someone else is.

    No thanks, I'll stick with the check-card which is accepted everywhere you need a credit-card as well. I'm building my credit the safer way, small loans for things like computers and stuff. Short term, positive history, and a very low debt/income ratio.

    Call me conservative, old fashioned, mistrusting... I chose the username for a reason... I think people abuse credit and rely on it far too much, it's like they learn finances from politicians.

    Honestly, if you need a loan to make payroll, you have bigger problems than poor sales.
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