Posts by Andrew Rogers15

blueridge32 said:☕

God, if you could just get to me in person—what would you even do? You’d probably just skim my post and immediately start swinging at me so I wouldn't have the chance to defend myself. I mean, why bother arguing when you clearly think you're the smartest guy in the room? You know everything, don't you? Honestly, I don't know why this whole forum isn't just a collection of your own responses and comments since the rest of us are apparently so uneducated and dim-witted.
Just stay healthy and mind your own business for once. Let people decide what they want to accept on their own terms. You don't need to force every single point just to prove you're right... or maybe you really do feel that desperate need?

If you're paying with a Mastercard, there’s a 2.5% fee on the total amount. That specifically applies to life insurance policies; for other types of products, there usually isn't an extra charge, though it really depends.
And which ones don't have the fee? Property insurance is treated the exact same way as life insurance, so I'm not even sure what kind of products you're talking about here.

Look, >, since you clearly know everything there is to know about Allianz, I’ll say it again: paying the annual premium upfront is just smarter. Like you pointed out, if you use a Mastercard, the surcharge is only about 3.5%, whereas monthly installments usually bump that up to 5 or 6 percent. And before anyone starts—I wasn't "claiming" that this applies to every single card type; I already said it doesn't. But I am standing by my word: paying the full year at once on a credit card is more cost-effective, and nobody can argue with that math. Even with the extra fee, it’s still cheaper than dealing with those annoying paper checks or money orders. Plus, the bill gets bundled right in with all your other monthly expenses. You aren't going to forget to pay your credit card statement, whereas you could easily lose track of a random check or ignore a bill sitting on the counter. Furthermore, let's say you set up your policy in December and pay via card—that's perfect timing because you'll be looking at that tax refund for the previous year soon. Honestly, you seem to get worked up the second someone mentions Allianz; take it easy, it’s not good for your blood pressure. Oh, and I didn't realize they had those specific co-owners, which actually makes it even worse when they can't accommodate their own clients by offering an annual payment option without a markup.

blueridge32 said:Nope, not really. ☕

That’s right, it all comes down to the provider. Like, if Generali is linked with Bank of America, you might want to use an American Express, or if Allianz is tied to JPMorgan Chase, then maybe stick to Mastercard.

It doesn't just depend on which bank the provider is partnered with.

With Allianz—which is connected to Wells Fargo—the surcharge for a Mastercard is the exact same as it is for an American Express. It's 3.5%.

The fee for a Mastercard is 2.5%, assuming it's a Wells Fargo card with the perks.

So, at Allianz, it's exactly the same whether you use a Mastercard or an American Express. Your only real win is using a Mastercard because the fee is lower.

But honestly, there's a surcharge for paying by card no matter what, regardless of these partnerships. You can see that whether it's a Bank of America card or a Wells Fargo one, it doesn't change a thing.

Yes, there's a surcharge for installments, but that doesn't apply to every single card out there. I was simply listing which bank works with which insurance provider. Are you really going to claim that's incorrect? And honestly, the fact that Wells Fargo charges a surcharge for Allianz is actually a disgrace, considering how long they've been working together.

The formatting got a bit messy on my end, but I’m pretty sure you guys will be able to make sense of it.

I’m honestly lost on how this deposit calculation is supposed to work. Are you actually planning to use the funds you just received as your own deposit? As far as I understand, you have to use your own personal capital for the deposit, not money pulled from the credit pool itself.

Technically, you could pay out the deposit using the loan itself if you don't have any cash on hand, but that's a different story. It's the same principle as a commercial bank, except this specific bridge financing model is way more expensive.

Those entities don't actually have to lift a finger; they basically just exist so people can claim those six years of federal tax credits... 6x$250 = $1.50 per person. If the cost to open a savings account is around $50—if my memory serves me right—then that's roughly $1.25 in tax credits per policy... which means $24,000 total across all six policies. Is that really how the math works out for them?

You seem to have overlooked the fact that interest accrues on every single housing savings account individually. Plus, even if you dump more than $1667 into one, you won't see anything over $250 in credits. But, if you split it up and fund a second account, you get hit with the credits there too. You're looking at double the tax credits and double the interest!

ambermoose20 said:certain combinations of cards and insurance providers don't carry any extra fees—meaning you could potentially save that 5% or 6% depending on which company you choose...

Bravo, the_medo!!!! Finally, someone actually spoke sense and provided some accurate info.
It’s exactly like that—everything depends on the specific provider. For instance, if a company is partnered with Bank of America, using an American Express might be the smart move. If you're with Allianz through JPMorgan Chase, then maybe stick to Mastercard. Whoever is drafting your policy absolutely needs to walk you through these details. Then you've got all sorts of other payment methods like automatic transfers, Diners Club, or Mastercard, but every firm has its own set of partners. When you go to Goldman Sachs for a loan, they’ll likely try to pitch you things like Vanguard, Bank of America-General ZABA-Alianz, and so on.