Am I The Only One Who Dont F With Credit Cards?

[Ooh Marty]

Freshmen yr in college those cc offers were mighty tempting

 

[BlvdBrawler]

I appreciate the 2% in generated interest towards my savings account a year, I get from from taking loans out at my bank that compounds every 5 years that I then contribute to various micro-investments, even more, but that's for the advanced part of the game. You'll learn that as you get older.

Lemme understand this.

Your bank gives you an extra 2% on your savings account... because you borrow money from them at a higher percentage?

That's cool and all I guess, but what does that have to do with using a credit card to get cash back?

 

[duncanthetall]

I don't fukk with credit cards. I used one for my TV thru Best Buy. They are legit as fukk with the options they have. Like..0% APR for 36 months?

 

[Two Stacks]

I'll get credit through Best Buy program

cant get credit at best buy without any previous credit. unless you have very high income

 

[Two Stacks]

my shyt 790.

Yes, really.

 

[feelosofer]

Lemme understand this.

Your bank gives you an extra 2% on your savings account... because you borrow money from them at a higher percentage?

That's cool and all I guess, but what does that have to do with using a credit card to get cash back?

Actually my rates are quite low, borrowing money that way, keep in mind I been using the same bank for 20 years, so my short term rate is usually at under a 1% because they are paid back quickly, it's a bit complicated. But the point I was trying to make is that credit cards as they are used today do more harm than good and that there are better more efficient ways to generate wealth and establish credit without using credit cards. You seem like one of the the more responsible users but I can assure you for every 1 of you there are 100 that buried themselves in debt with credit cards over what were initially small purchases.

 

[winb83]

I should have specified: If you're not an idiot its free money.

It's not about being an idiot. Cash requires you to have the exact amount or over on hand to make a purchase credit offers access to more funds. If you go to a fast food place with $5 that's all you can spend but if you have a credit card you can supersize it and spend more.

smart people who are worth millions are more know they can use $100-$600 a year in cash back to trip people like you and me up and get us to spend more money and make them more.

its been proven that people who use credit cards spend more money on purchases than people who don't.

 

[winb83]

Do you, breh. Personally I appreciate the $500 a year in cash back.

You likely have to spend close to $50,000 a year to get that kinda cash back in a year at
1% and $10,000 at 5% so the question is how much of that was living expenses and how much was just extra spending cause if you spend anything more than necessary that $500 ain't really $500.

 

[R.E.N. Spells Ren]

You likely have to spend close to $50,000 a year to get that kinda cash back in a year at
1% and $10,000 at 5% so the question is how much of that was living expenses and how much was just extra spending cause if you spend anything more than necessary that $500 ain't really $500.

Who the hell only spends for living expenses and "necessary" expenses?

If I wanted to live like that, I'd go on welfare and really

 

[BlvdBrawler]

You likely have to spend close to $50,000 a year to get that kinda cash back in a year at
1% and $10,000 at 5% so the question is how much of that was living expenses and how much was just extra spending cause if you spend anything more than necessary that $500 ain't really $500.

I went back and checked. Looks like I got the card in February of 2011, so I've had it a little longer than I thought. A year and 5 months. Here's what I spent money on.

That's pretty much everything except mortgage, car payments, and utilities. Actually, 5k of that did go to reducing principal on my car loan, now that I think about it.

 

[-G$-]

paying property tax w amex and collecting points =

 

[TLOL is back]

It's not about being an idiot. Cash requires you to have the exact amount or over on hand to make a purchase credit offers access to more funds. If you go to a fast food place with $5 that's all you can spend but if you have a credit card you can supersize it and spend more.

smart people who are worth millions are more know they can use $100-$600 a year in cash back to trip people like you and me up and get us to spend more money and make them more.

its been proven that people who use credit cards spend more money on purchases than people who don't.

People who spend money at fast food places are by definition idiots. I would never spend more money just because I have a credit card instead of cash. In fact, I don't ever spend money on things that I don't need.

 

[muzikfrk75]

Freshmen yr in college those cc offers were mighty tempting

I got got when I was a freshman in college

I think changed it where they can't do that anymore.

I now have 2 credit cards, one through my credit union, the other is a Discover. I mostly use the Discover (and pay it back) because of all of the cashback options and it's 0% APR til February. The credit union card's APR is 8.15% but has zero rewards.

damn nikka, you gone take the hit and be forced to pay it back.

Depends on what state he's in.

 

[TruStyle]

So the only real arguments against CC are. I'm broke out here and staying with moms or I had a CC and fukked up so I can't be trusted with one.

 

[the artist known az]

non-payment. $2800 deputy served me small-claims court papers the other day. i didnt know they could sue. thought ur credit just took a hit

If you don't show at the court date, the judge will more than likely award them a default judgment. That gives them the green light to collect by any means (bank & or wage garnishment) depending on the state you live in.