Maybe that's why my FICO score isn't higher, no mortgage since April 2009..
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I agree. You can have both. If you are going to have expenses you might as well earn points on them. A good credit can have perks. For example I received a Capital One offer with a $500 cash reward if I spent $3,000 in the first 3 months. Well I was going to make an equipment purchase anyway so I took that offer and received $500. So now my $3000 purchase became $2500. I also get 5% at restaurants and coffee shops with the Capital One. The first yearly fee was waived but now I do pay a fee to maintain the Capital One. However my rewards exceed that..
Why do you think you can't have both ? ( FICO 825+ )
My $ 80.87 charge bill went in the mail Tuesday, debt free till I make another purchase..
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Why do you think you can't have both ? ( FICO 825+ )
My $ 80.87 charge bill went in the mail Tuesday, debt free till I make another purchase..
But you're not getting any points. I went through a phase where I paid for everything with my debit card. Then I thought - wait a second I can get points using my CC. This only works if you pay it off every month and don't change your spending habits. I need a phone, internet, insurance etc. Why pay with a debit for that when you can pay via credit card initially and receive points and then pay the credit card off 2-3 weeks later?I dont feel the NEED to have credit when I can pay cash.
You're missing out on fraud protection, perks, and insurance protection for items bought like electronics. Cash cant and will never give your those things for free.I dont feel the NEED to have credit when I can pay cash.
But you're not getting any points. I went through a phase where I paid for everything with my debit card. Then I thought - wait a second I can get points using my CC. This only works if you pay it off every month and don't change your spending habits. I need a phone, internet, insurance etc. Why pay with a debit for that when you can pay via credit card initially and receive points and then pay the credit card off 2-3 weeks later?
You're missing out on fraud protection, perks, and insurance protection for items bought like electronics. Cash cant and will never give your those things for free.
But you're not getting any points. I went through a phase where I paid for everything with my debit card. Then I thought - wait a second I can get points using my CC. This only works if you pay it off every month and don't change your spending habits. I need a phone, internet, insurance etc. Why pay with a debit for that when you can pay via credit card initially and receive points and then pay the credit card off 2-3 weeks later?
A debit card takes the funds out right away, I have gotten 33 - 35 days before a bill shows up, + the due date, to pay that bill..The debit card offers the EXACT same protections as a credit card.
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It adds up over time. 5% cash back on $1000 is $50. I have a Lowe's credit card that offers 5% off anything you charge on the card at the register. Need a new water heater? If you pay with the Lowe's card instead of your debit card you're getting it for 5% cheaper. So it is a no brainer. Home Depot used to have an offer like that but then stopped offering it. I still go to Home Depot for some stuff but Lowe's with their 5% discount offer is handy.I don’t need any points. If you actually look at how many points you accrue for every $1,000 spent, you’ll find out your points are pretty much a joke.
The debit card offers the EXACT same protections as a credit card.
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I don’t need any points. If you actually look at how many points you accrue for every $1,000 spent, you’ll find out your points are pretty much a joke.
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To each their own though. I prefer not to have a credit card.
Jeff Bozos has a ****ing rocketship partially based on 5% off "lightning deals". You're telling me you wouldn't take any discount or reward back on shit you already are buying?
I get that's hyperbole but if you have self control and only buy what you would with cash, I don't see the harm. I mean yeah they track your spending but I also have a cellphone so lost that battle already. I mean strippers get pissed when you try to swipe a card in there so... cash still has a place. Just saying rewards might not be great but if used properly doesn't hurt. Like you said though it's a personal choice.
The problem here is WHEN, not if you run into a financial crisis and then you have to rely on your credit card to deal with it. It is too easy to get into heavy debt with a credit card.
I personally don’t have the will power not to misuse a credit card. I don’t want the damn things in my life. Not now, not ever again. They are dangerous.
I understand others have more responsibility with them. Like I said, to each their own.
you mean 800 pound benchSweet.
Just to clarifiy, an 800+ score is mandatory for SVTP members.
here is the problem: most people use CCs for BULLSHIT expenses. And they cannot pay them off to zero each month.It's nice to have at least one if you do get into a place you NEED to pay for something you NEED but don't have the cash. Think really hard times. But yeah I agree it's very easy and plenty of people don't relate that it's still real money. If you carry a balance it can get out of hand real fast. My technique only works with truly using it as cash. I never buying anything with a CC I can't pay the full balance on before the bill.
I bought a new washing machine and dryer at Home Depot about 1 year ago and took advantage of their 0% interest for 18 months. I could have bought it in cash but figured what the hell might as well go for that. I used $500 + $100 gift cards obtained via Amex Business Card points to pay for some of it.here is the problem: most people use CCs for BULLSHIT expenses. And they cannot pay them off to zero each month.
we are all guilty of it. Knick knacks, clothes, shoes, starbucks, vacations, the list goes on and on. There is reason why Visa and Mastercard are billion dollar companies. Most people CANNOT control their spending. Most people will not get 0% interest. In fact, it averages 3-25%.
3 main reasons for overall debt: credit cards, vehicles, and student loans. You eliminate those (or not participate at all), invest your money, and you will be a millionaire. Our schooling system only teaches debt. By that I mean more student loans. Or personal debt loans (credit cards). The current system is ****ed because you need loans to boost your credit. Therefore you need credit cards. Most people cannot prove they are worthy and they cannot pay off a balance each month. Damned if you do, damned if you don't.
here is the problem: most people use CCs for BULLSHIT expenses. And they cannot pay them off to zero each month.
we are all guilty of it. Knick knacks, clothes, shoes, starbucks, vacations, the list goes on and on. There is reason why Visa and Mastercard are billion dollar companies. Most people CANNOT control their spending. Most people will not get 0% interest. In fact, it averages 3-25%.
3 main reasons for overall debt: credit cards, vehicles, and student loans. You eliminate those (or not participate at all), invest your money, and you will be a millionaire. Our schooling system only teaches debt. By that I mean more student loans. Or personal debt loans (credit cards). The current system is ****ed because you need loans to boost your credit. Therefore you need credit cards. Most people cannot prove they are worthy and they cannot pay off a balance each month. Damned if you do, damned if you don't.
I applaud you sir. For a fact, I know many people that blow money on stupid shit with credit cards. In fact they make stupid internet posts about their "rich" lifestyle. I used to be one of those people. I worked very hard, self employed, to have zero debt. The credit cards are a tease, and I would rather not use them. I don't "need" a 1% or 2% bonus, as I collect that with other investments like stock market or housing. It is way too easy to obtain $1000 per MONTH in credit card purchases. Even if you "pay it off every month" MOST people are not responsible enough to do that. Before you know it, you owe $12k in credit cards.Not me.
Old cell phone took a shit back in January.
Went to Walmart and found the last Iphone7 buried in a case. $99.
Half my shirts came from work for free.
Bought my last two pairs of Levi’s at Academy for like $20.
Wear my work boots almost everywhere.
Think I’ve been to Starbucks once in the last three years. I’ve even convinced my GF to stop going. It’s like $78 a gallon for an iced coffee and half the retards that go there get some stupid flavored water bullshit.
I’ll spend money on some things but the frivolous pissing away of money or having to always buy some worthless shit…nah.
Been getting points and miles for 15yrs now and combined I have close to 1 mil pts and miles.
Not sure what to do with them. I could go to one of those fancy Greek resorts I see on TV like 5 times for free but that’s not very important to me either.
Guess I need to start traveling.
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my point is, most people are not this smart. They just borrow, and even pay a penalty without blinking an eye.I bought a new washing machine and dryer at Home Depot about 1 year ago and took advantage of their 0% interest for 18 months. I could have bought it in cash but figured what the hell might as well go for that. I used $500 + $100 gift cards obtained via Amex Business Card points to pay for some of it.
Well the first month I was confused with their web site (asked to link accounts) late @ night and figured I'd pay it when I woke up. When I logged on later in the day I realized I was a day late with the payment and paid it off completely. I called the CC company and they waived the late fee. I have found that they are willing to work with you if you're a day or so late. My credit still shows zero missed payments the past 21 years since I came to USA.