The credit score you need to get the best rate on every kind of loan

The better your credit score, the better interest rate you can get on all types of loans, says Ted Rossman, a credit industry analyst for CreditCards.com. “Besides your net worth, your credit score is probably the most important number in your financial life [and] your credit score has a major effect on your net worth. ” Read more: The credit score you need to get the best deal on a cash-back credit cardPrivate student loan: 750When you’re borrowing federal direct student loans as an undergradua


The better your credit score, the better interest rate you can get on all types of loans, says Ted Rossman, a credit industry analyst for CreditCards.com. “Besides your net worth, your credit score is probably the most important number in your financial life [and] your credit score has a major effect on your net worth. ” Read more: The credit score you need to get the best deal on a cash-back credit cardPrivate student loan: 750When you’re borrowing federal direct student loans as an undergradua
The credit score you need to get the best rate on every kind of loan Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: myelle lansat, ivana pino
Keywords: news, cnbc, companies, need, card, student, best, rate, cashback, credit, kind, loan, interest, score


The credit score you need to get the best rate on every kind of loan

If you’re considering taking out any type of loan, you should be monitoring your credit score. The better your credit score, the better interest rate you can get on all types of loans, says Ted Rossman, a credit industry analyst for CreditCards.com. Lenders use your score to gauge your creditworthiness, or how likely you may be to pay back what you owe. That affects whether you get a loan in the first place and what kind of interest rate you’re offered. “A good credit score can save you a ton of money in the long run,” says Rossman. “Besides your net worth, your credit score is probably the most important number in your financial life [and] your credit score has a major effect on your net worth. ” There are different scoring models and ranges for credit scores, but most lenders use FICO scores, which range from 300 to 850. Different loans have different qualifying credit scores, but to nab any lender’s best rate, you’ll generally need at least a score in the 700s, which falls in the middle of the “good” range in FICO’s scoring model.

Graphic preview FICO breakdown Factors that impact your credit score Social chart title kiersten schmidt/grow FICO

Here’s what score to aim for to get a lender’s best rates on different kinds of loans.

Auto loan: 720

Most auto lenders use FICO’s auto score, which looks specifically at your creditworthiness for car loans. It uses a wider scoring range of 250-900. If your credit score is 720 or higher on that scale, you’ll qualify for the best super-prime (excellent) rate for a car loan, says credit expert Gerri Detweiler. For example, if your score is 700, or “good,” you can qualify for 6% on $29,620 loan (the average new car loan amount) paid over 60 months with a monthly payment of $572 and $4,701 in interest. But if your FICO score is 720 or above, you can qualify for 4.6% on a new car with a lower monthly payment of $554, saving you $18 each month and $1,078 over the life of the loan. Read more: This is the credit score you need to get the best rate on a car loan

Cash back rewards card: 740

About half, 49%, of Americans with a credit card have a cash-back card, making it the most popular type of rewards card. A credit score of 740 or above gives you a “slam dunk” chance to qualify for a top cash-back rewards card, says Rossman. If your credit score is 650 or lower, however, you can still be approved for a cash-back rewards card like the Apple card, for instance, but your credit limit may be lower and your interest rate may be higher, says credit expert John Ulzheimer, who has worked for FICO and Equifax. To make cash-back cards worthwhile, you have to pay your bills in full and avoid interest rates, adds Rossman. For example, if your credit score is 650 and you put $1,000 on a cash-back card with a high interest rate of 20% without paying off the balance immediately, you’d pay $200 in interest. Even if you have 2% cash-back savings on that card — so, a savings of $20 on $1,000 worth of purchases — you’d end up $180 behind. Read more: The credit score you need to get the best deal on a cash-back credit card

Private student loan: 750

When you’re borrowing federal direct student loans as an undergraduate, your credit score doesn’t matter. But if you need to take out private student loans, as about 14% of undergraduates do, lenders look at your credit score and credit history. You’ll need a credit score of at least 750 to get the best rate on a private student loan, says Betsy Mayotte, president of The Institute of Student Loan Advisors. That’s currently about 3%. You may still be able to qualify for a loan with a score as low as 650, but your interest rate will be much higher — in the range of 8% or 9%, and it can go as high as 14%. Read more: The credit score you need for the best rate on a private student loan

Mortgage: 760


Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: myelle lansat, ivana pino
Keywords: news, cnbc, companies, need, card, student, best, rate, cashback, credit, kind, loan, interest, score


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Can’t wait until 70? This is the next best age to claim Social Security benefits

By now, you may have heard: 70 is the best age for claiming Social Security benefits. Because you have already reached your full retirement age — age 66 or 67 for most — you’ll receive 100% of the benefits you are entitled to. But that stops at age 70. And waiting until age 70 might sound like a long time. The good news is that there is a next best age to claim.


By now, you may have heard: 70 is the best age for claiming Social Security benefits. Because you have already reached your full retirement age — age 66 or 67 for most — you’ll receive 100% of the benefits you are entitled to. But that stops at age 70. And waiting until age 70 might sound like a long time. The good news is that there is a next best age to claim.
Can’t wait until 70? This is the next best age to claim Social Security benefits Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-20  Authors: lorie konish
Keywords: news, cnbc, companies, cant, youll, timethe, social, benefits, youre, age, waiting, claim, retirement, stops, security, 70, best, wait


Can't wait until 70? This is the next best age to claim Social Security benefits

By now, you may have heard: 70 is the best age for claiming Social Security benefits.

Here’s why. Because you have already reached your full retirement age — age 66 or 67 for most — you’ll receive 100% of the benefits you are entitled to. Plus, for every year you delay beyond your full retirement age, you stand to get a boost of up to 8% to your benefits. Exactly how much of an increase you get is calculated based on the year of your birth and the number of months you delay.

But that stops at age 70.

If you’re like many individuals, you’re counting down the days until retirement. And waiting until age 70 might sound like a long time.

The good news is that there is a next best age to claim.


Company: cnbc, Activity: cnbc, Date: 2019-08-20  Authors: lorie konish
Keywords: news, cnbc, companies, cant, youll, timethe, social, benefits, youre, age, waiting, claim, retirement, stops, security, 70, best, wait


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Here are the best ways to secure important financial documents

Let’s face it, when it comes to storing important financial documents, a shoe box under your bed doesn’t really cut it. Estate-planning documents — such as wills, trusts, living wills, medical directives and powers of attorney —are very important to you. Ensuring your family knows about your estate and other documents, and where to find them, is key. Life insurance policies, divorce records and real estate deeds are some of the other physical documents that should be safely kept. However, there


Let’s face it, when it comes to storing important financial documents, a shoe box under your bed doesn’t really cut it. Estate-planning documents — such as wills, trusts, living wills, medical directives and powers of attorney —are very important to you. Ensuring your family knows about your estate and other documents, and where to find them, is key. Life insurance policies, divorce records and real estate deeds are some of the other physical documents that should be safely kept. However, there
Here are the best ways to secure important financial documents Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: kelley keehn, personal finance educator, ted jenkin, co-founder, ceo of oxygen financial
Keywords: news, cnbc, companies, estate, key, box, secure, place, wills, best, ways, digital, safely, important, documents, financial


Here are the best ways to secure important financial documents

Let’s face it, when it comes to storing important financial documents, a shoe box under your bed doesn’t really cut it.

Estate-planning documents — such as wills, trusts, living wills, medical directives and powers of attorney —are very important to you. So where do you keep them safely secured? And what about your digital assets, passwords and social media accounts?

Jason Heath, a certified financial planner and managing director with Objective Financial Partners, reminds people that some states have public will registries, and there are private will registry companies, as well.

More from FA Playbook:

How fintech advances help financial advisors

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Are collectibles for collecting or investing?

“Although estate-planning documents do not need to be registered, it may be a good idea,” he said.

However, registering documents may not be enough. Ensuring your family knows about your estate and other documents, and where to find them, is key. Life insurance policies, divorce records and real estate deeds are some of the other physical documents that should be safely kept. A safety deposit box, or a safe place at home, may be an option.

However, there are also online options available to organize this data in one place and provide a digital “key” to loved ones.


Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: kelley keehn, personal finance educator, ted jenkin, co-founder, ceo of oxygen financial
Keywords: news, cnbc, companies, estate, key, box, secure, place, wills, best, ways, digital, safely, important, documents, financial


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To find the best first credit card for you, look at these 4 features

1 reason young adults give for opening a credit card, according to the Majoring in Money 2019 report from Sallie Mae, which polled 2,419 people ages 21-29. Credit card issuers charge this fee once per year to cover any benefits that come with your credit card, such as travel or shopping perks. The average interest rate for credit cards geared towards students is 19.80%, although they range from 13.99% to 22.62%, according to ValuePenguin. The student incentivesSome credit card issuers, like Disc


1 reason young adults give for opening a credit card, according to the Majoring in Money 2019 report from Sallie Mae, which polled 2,419 people ages 21-29. Credit card issuers charge this fee once per year to cover any benefits that come with your credit card, such as travel or shopping perks. The average interest rate for credit cards geared towards students is 19.80%, although they range from 13.99% to 22.62%, according to ValuePenguin. The student incentivesSome credit card issuers, like Disc
To find the best first credit card for you, look at these 4 features Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: ivana pino, myelle lansat, sofia pitt
Keywords: news, cnbc, companies, card, students, best, interest, balance, look, rate, features, youre, credit, think, cards, travel


To find the best first credit card for you, look at these 4 features

Building credit is the No. 1 reason young adults give for opening a credit card, according to the Majoring in Money 2019 report from Sallie Mae, which polled 2,419 people ages 21-29. That’s wise, since a solid credit history helps you borrow for larger purchases, like your first vehicle or home, and get a lender’s best rate on those loans. A little more than 1 in 5 (22%) of those surveyed say they chose their first card because their parent used or recommended it. But the best card for your parents might not be the best one for you. Consider these four features to help you choose.

1. The annual fee

Not all cards charge annual fees. For the ones that do, fees can range anywhere from $49 to $550, according to Creditcardinsider.com. Credit card issuers charge this fee once per year to cover any benefits that come with your credit card, such as travel or shopping perks. Cards with more benefits will often charge higher fees. Experts generally recommend you avoid cards with annual fees, unless you can pay off your balance in full every month and will make the most of the perks you’re paying for. Qualifying for these kinds of cards can be difficult for new borrowers, anyway.

2. The interest rate

Ideally, you’ll pay off your balance in full and on time each month. But if you can’t, a higher interest rate will add to your total balance and can make it more difficult for you to pay off your debt. The average interest rate for credit cards geared towards students is 19.80%, although they range from 13.99% to 22.62%, according to ValuePenguin. “When you’re selecting a card, you want to consider the interest rate and think about whether you intend to carry a balance,” says Neal Solomon, managing director of WealthPro LLC in Gloversville, New York. “For people who are just staring out and may be affected by their interest rate, but for more established borrowers who are able to pay off their balance in full, the rate might not matter as much. You have to think about the features you plan to use.”

When you’re selecting a card, you want to consider the interest rate and think about whether you intend to carry a balance. Neal J. Solomon Certified Financial Planner

3. The student incentives

Some credit card issuers, like Discover, offer cash-back incentives geared towards students, like a $20 credit for every year they earn a 3.0 GPA or higher. Other cards, like Capital One’s My Journey card, offer rewards to students for making payments on time. On that card, every on-time payment boosts your cash back, up to a maximum 1.25% for that month.

4. The rewards

Solomon says that when you’re weighing the pros and cons of a particular card, you should think about your spending habits and what rewards a certain credit card may be able to offer you. If you’re excited about seeing the world, for instance, you may want to consider a credit card that rewards you for booking air and hotel travel, such as the Bank of America Travel Rewards Credit Card for Students. You can earn 1.5 points per dollar on all purchases, and points are worth one cent each as statement credits towards travel reservations. “When you start out, the best feature to look for is any kind of cash-back incentive,” says Erika Safran, a certified financial planner with Safran Wealth Advisors in New York City. “If you can earn some kind of percentage on what you’re already spending money on, it’s probably the most efficient feature.”

How to use your card wisely


Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: ivana pino, myelle lansat, sofia pitt
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India’s 5 best paying tech jobs right now

India’s booming IT scene is creating a wealth of high paying opportunities, according to a new study identifying the country’s five most lucrative tech professions right now. The new report from jobs site Indeed found that technology roles in India have grown consistently over the past five years, as more companies are expanding their IT capabilities. Technology jobs in India increased by 8% in the five years from February 2014 to February 2019, the study found, based on posts to its jobs site.


India’s booming IT scene is creating a wealth of high paying opportunities, according to a new study identifying the country’s five most lucrative tech professions right now. The new report from jobs site Indeed found that technology roles in India have grown consistently over the past five years, as more companies are expanding their IT capabilities. Technology jobs in India increased by 8% in the five years from February 2014 to February 2019, the study found, based on posts to its jobs site.
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Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: karen gilchrist
Keywords: news, cnbc, companies, right, site, approx, past, best, study, jobs, rupees, paying, tech, india, technology, based, indias


India's 5 best paying tech jobs right now

India’s booming IT scene is creating a wealth of high paying opportunities, according to a new study identifying the country’s five most lucrative tech professions right now.

The new report from jobs site Indeed found that technology roles in India have grown consistently over the past five years, as more companies are expanding their IT capabilities. What’s more, employers are willing to pay well for top talent who can lead the way, particularly in the fields of development, analytics and data.

Technology jobs in India increased by 8% in the five years from February 2014 to February 2019, the study found, based on posts to its jobs site. In the past year alone, technology job postings on the site shot up by a dramatic 31%.

Median annual salaries, meanwhile, rose to around 1,500,000 rupees (approx. $21,100) for tech workers based in India and earning in rupees. That ranks them among some of the highest earners in a country with an average per capita annual income of 79,882 Indian rupees (approx. $1,119.60).

The majority of jobs were concentrated in the vibrant tech city of Bengaluru (25%), followed by Pune (9%), Hyderabad (8%), Chennai (7%) and Mumbai (5%).


Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: karen gilchrist
Keywords: news, cnbc, companies, right, site, approx, past, best, study, jobs, rupees, paying, tech, india, technology, based, indias


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Senator challenges Zuckerberg testimony as ‘at best, incomplete’ after report of Facebook’s audio transcription

“At that hearing, I asked you specifically if Facebook uses audio obtained from mobile devices to enrich personal information about its users. During the testimony, Zuckerberg appeared to be referencing a long-standing theory that Facebook records audio to target users with ads. But Facebook had not told users that their audio could be reviewed by third parties, according to Bloomberg. Facebook confirmed the audio transcription to CNBC following the initial report on Tuesday, but said it recentl


“At that hearing, I asked you specifically if Facebook uses audio obtained from mobile devices to enrich personal information about its users. During the testimony, Zuckerberg appeared to be referencing a long-standing theory that Facebook records audio to target users with ads. But Facebook had not told users that their audio could be reviewed by third parties, according to Bloomberg. Facebook confirmed the audio transcription to CNBC following the initial report on Tuesday, but said it recentl
Senator challenges Zuckerberg testimony as ‘at best, incomplete’ after report of Facebook’s audio transcription Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: lauren feiner
Keywords: news, cnbc, companies, users, microphone, zuckerberg, challenges, incomplete, transcription, best, report, audio, senator, true, peters, facebooks, facebook, ads, testimony


Senator challenges Zuckerberg testimony as 'at best, incomplete' after report of Facebook's audio transcription

Facebook founder and CEO Mark Zuckerberg arrives to testify following a break during a Senate Commerce, Science and Transportation Committee and Senate Judiciary Committee joint hearing about Facebook on Capitol Hill in Washington, DC.

A lawmaker is calling into question Facebook CEO Mark Zuckerberg’s testimony in front of Congress after a new report revealed the company used outside contractors to transcribe audio from its services without users’ explicit consent.

Following Tuesday’s report from Bloomberg, Democratic Sen. Gary Peters of Michigan sent a letter to Zuckerberg asking for further clarity on the program and warning that if the report is true, his answers during the April 2018 testimony seem to be “at best, incomplete.”

“At that hearing, I asked you specifically if Facebook uses audio obtained from mobile devices to enrich personal information about its users. Your emphatic answer was no,” Peters wrote in the letter dated Aug. 15. “Your exact words to me were: ‘You’re talking about this conspiracy theory that gets passed around that we listen to what’s going on on your microphone and use that for ads. We don’t do that.'”

During the testimony, Zuckerberg appeared to be referencing a long-standing theory that Facebook records audio to target users with ads. Facebook said that the audio transcriptions referenced in the Bloomberg story were anonymized and used to check that its artificial intelligence accurately understood the messages.

In response to a request for comment on Peters’ letter, a Facebook spokesperson said in a statement to CNBC: “The meme that Facebook is eavesdropping on your phone in the background is absolutely false. Mark’s statements on this were true when he said them, and they remain true today. It has always been the case that Facebook only accesses your microphone if you have given our app permission and if you are actively using a specific feature that requires audio. It has also always been true that Facebook does not use your phone’s microphone to inform ads or to change what you see in News Feed.”

But Facebook had not told users that their audio could be reviewed by third parties, according to Bloomberg. Facebook told Congress in written responses to questions that it “only accesses users’ microphone if the user has given our app permission and if they are actively using a specific feature that requires audio (like voice messaging features),” Peters noted.

Facebook confirmed the audio transcription to CNBC following the initial report on Tuesday, but said it recently discontinued the program.

“Much like Apple and Google, we paused human review of audio more than a week ago,” a Facebook spokesperson said.

Peters asked Zuckerberg to respond to a series of questions by Aug. 28 to clarify for what purposes Facebook uses the audio recordings and whether users are prompted to agree to the transcription. The Irish Data Protection Commission confirmed to CNBC that it is looking into Facebook’s audio collection processes as well.

The report follows a $5 billion settlement with the Federal Trade Commission over the company’s privacy policies. The settlement followed an investigation into Facebook’s privacy policies, including a probe into whether Facebook violated an agreement obtaining explicit consent from users when sharing data with third-party developers.

— CNBC’s Todd Haselton contributed to this report.

Subscribe to CNBC on YouTube.

WATCH: How Facebook makes money by targeting ads directly to you


Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: lauren feiner
Keywords: news, cnbc, companies, users, microphone, zuckerberg, challenges, incomplete, transcription, best, report, audio, senator, true, peters, facebooks, facebook, ads, testimony


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The job with the best career opportunities according to Glassdoor pays $112,000 and isn’t in tech

That’s according to Glassdoor’s Economic Research report, which examined the different factors that drive employee satisfaction. Analyzing millions of employee reviews on its platform, the site then created a list of the top 25 jobs in the U.S. that provide the best career opportunities. The jobs listed are ranked based on the median base salary reported on Glassdoor, the number of job openings on Glassdoor and the career opportunity rating (on scale of 1-5) that employees working in these roles


That’s according to Glassdoor’s Economic Research report, which examined the different factors that drive employee satisfaction. Analyzing millions of employee reviews on its platform, the site then created a list of the top 25 jobs in the U.S. that provide the best career opportunities. The jobs listed are ranked based on the median base salary reported on Glassdoor, the number of job openings on Glassdoor and the career opportunity rating (on scale of 1-5) that employees working in these roles
The job with the best career opportunities according to Glassdoor pays $112,000 and isn’t in tech Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: courtney connley
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The job with the best career opportunities according to Glassdoor pays $112,000 and isn't in tech

In addition to working for a company with great culture, values and a solid leadership team, one of the key factors that play into an employee’s overall satisfaction is access to career opportunities.

That’s according to Glassdoor’s Economic Research report, which examined the different factors that drive employee satisfaction. Analyzing millions of employee reviews on its platform, the site then created a list of the top 25 jobs in the U.S. that provide the best career opportunities.

The jobs listed are ranked based on the median base salary reported on Glassdoor, the number of job openings on Glassdoor and the career opportunity rating (on scale of 1-5) that employees working in these roles reported. Each position offers a salary of at least $80,000 and has at least 2,000 current job openings.

Take a look below to see which titles round out the top 10 list of jobs with the best career opportunities, according to Glassdoor:


Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: courtney connley
Keywords: news, cnbc, companies, tech, reported, working, best, jobs, satisfaction, list, factors, career, pays, isnt, according, salary, opportunities, 112000, glassdoor, job


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Guggenheim says WWE is its best idea for growth

CBS and Viacom have finally agreed to merge — here’s what they…CBS and Viacom finally have agreed to a merger, but the combined company still wants to get bigger. There might be several options for Shari Redstone, including Discovery,…Technologyread more


CBS and Viacom have finally agreed to merge — here’s what they…CBS and Viacom finally have agreed to a merger, but the combined company still wants to get bigger. There might be several options for Shari Redstone, including Discovery,…Technologyread more
Guggenheim says WWE is its best idea for growth Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, viacom, merge, finally, wwe, wants, theycbs, guggenheim, best, options, agreed, shari, growth, redstone, idea, merger


Guggenheim says WWE is its best idea for growth

CBS and Viacom have finally agreed to merge — here’s what they…

CBS and Viacom finally have agreed to a merger, but the combined company still wants to get bigger. There might be several options for Shari Redstone, including Discovery,…

Technology

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Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: maggie fitzgerald
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Guggenheim says WWE is its best idea for growth

Consumers are America’s not so secret weapon to lift economyWith markets reeling from recession fears, the world is watching the so far resilient U.S. consumer, now in the strongest position since before the financial crisis. Market Insiderread more


Consumers are America’s not so secret weapon to lift economyWith markets reeling from recession fears, the world is watching the so far resilient U.S. consumer, now in the strongest position since before the financial crisis. Market Insiderread more
Guggenheim says WWE is its best idea for growth Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, reeling, strongest, growth, secret, best, wwe, world, position, idea, markets, guggenheim, recession, resilient, watching, weapon


Guggenheim says WWE is its best idea for growth

Consumers are America’s not so secret weapon to lift economy

With markets reeling from recession fears, the world is watching the so far resilient U.S. consumer, now in the strongest position since before the financial crisis.

Market Insider

read more


Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: maggie fitzgerald
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Don’t buy an iPhone right now — Apple’s new iPhones are coming next month

There are several reasons to wait, but I want to be clear: This isn’t because Apple’s current iPhones are bad. They’re the best phones you can buy. Apple’s current high-end flagship phones are the XS and XS Max. You should expect Apple’s older iPhones to fall in price, too. Apple currently sells five phones: The XS, XS Max, the new but lower-priced XR, and the older 7 and 8.


There are several reasons to wait, but I want to be clear: This isn’t because Apple’s current iPhones are bad. They’re the best phones you can buy. Apple’s current high-end flagship phones are the XS and XS Max. You should expect Apple’s older iPhones to fall in price, too. Apple currently sells five phones: The XS, XS Max, the new but lower-priced XR, and the older 7 and 8.
Don’t buy an iPhone right now — Apple’s new iPhones are coming next month Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: todd haselton
Keywords: news, cnbc, companies, buy, best, dont, apples, xs, phones, price, iphone, month, iphones, apple, older, phone, right, coming


Don't buy an iPhone right now — Apple's new iPhones are coming next month

Tim Cook, Chief Executive Officer of Apple Inc., takes a selfie with a customer and her iPhone as he visits the Apple Store in Chicago, Illinois, U.S., March 27, 2018.

It’s a bad time to buy an iPhone.

There are several reasons to wait, but I want to be clear: This isn’t because Apple’s current iPhones are bad. They’re the best phones you can buy.

But Apple almost always unveils its new iPhones in September, so you should wait a few weeks to get the most bang for your buck.

Apple’s current high-end flagship phones are the XS and XS Max. The phones that take their place at the top end of Apple’s lineup will have the latest and greatest additions, reportedly including new cameras. If you’re planning to spend more than $1,000 on a new phone, you’re probably in the minority of buyers, so you should at least get the best phone you can for the price.

You should expect Apple’s older iPhones to fall in price, too. Apple currently sells five phones: The XS, XS Max, the new but lower-priced XR, and the older 7 and 8. It probably won’t keep selling all of those, but the ones that it continues to sell will be discounted.

Also, new iPhones typically introduce hardware that can take advantage of new software features. Apple’s iOS 13 is a big new iPhone update rolling out this fall, and while the company has already revealed most of the changes, it may have some features that work best or only with new phones.

Face ID and Animoji, for example, worked only with the iPhone X when that phone launched in 2017. The same was true for the iPhone 7 Plus, which introduced Portrait mode in 2016, and the iPhone 8, which introduced wireless charging a year later.

There’s one wildcard: President Donald Trump’s latest tariffs on Chinese imports are set to go into effect on Sept. 1, and could increase the price of iPhones, since Apple will be paying 10 percent more to import them from China, where they’re mostly manufactured. That could mean a $1,000 iPhone might actually end up costing you $1,100 come September. However J.P. Morgan analysts expect Apple will eat the tariff costs instead of passing the higher price down to consumers.

So the gist is this: Whether you want a brand new model or are satisfied with an older one, hold off until Apple refreshes its lineup.


Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: todd haselton
Keywords: news, cnbc, companies, buy, best, dont, apples, xs, phones, price, iphone, month, iphones, apple, older, phone, right, coming


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