Members Kenny Powers Posted March 18, 2011 Members Share Posted March 18, 2011 If it actually worked that, it might...well...work. But the idea that the more you owe, the more responsible you are just plain makes my head hurt. It's game I refuse to play. My only debt is my home and we are working to pay that off ASAP. yeah, I dont think you really understand how IT works Link to comment Share on other sites More sharing options...
Members Yarbicus Posted March 18, 2011 Members Share Posted March 18, 2011 yeah, I dont think you really understand how IT works I used to be a loan manager for a multi million dollar fund. Think I might just have some idea! Ever heard of Dave Ramsey? He personally is kind of a douche but his personal finance advice changed my life. It's cash only these days and I couldn't be happier about it. Don't mean to sound like I am knocking those that choose to play the game. I've just been out of it for a couple of years and I don't miss the stress of using other people's money. Link to comment Share on other sites More sharing options...
Members Kenny Powers Posted March 18, 2011 Members Share Posted March 18, 2011 I just dont understand where this "stress" is coming from? like I said, I just use my card for protection and rewards. I get my bill at the end of the month, review for accuracy, and submit payment in full. Then I get cash back at the end of the year. yeah thats pretty stressful... Link to comment Share on other sites More sharing options...
Members Yarbicus Posted March 18, 2011 Members Share Posted March 18, 2011 I just dont understand where this "stress" is coming from? like I said, I just use my card for protection and rewards. I get my bill at the end of the month, review for accuracy, and submit payment in full. Then I get cash back at the end of the year. yeah thats pretty stressful... Cool. Glad it works for you. I will just stick to using my own money. Then we can both be happy! Link to comment Share on other sites More sharing options...
Members Kenny Powers Posted March 18, 2011 Members Share Posted March 18, 2011 Link to comment Share on other sites More sharing options...
Members Yarbicus Posted March 18, 2011 Members Share Posted March 18, 2011 I love it that I get a facepalm for NOT wanting to be debt! God bless America!!! Link to comment Share on other sites More sharing options...
Members Hardtail Posted March 18, 2011 Members Share Posted March 18, 2011 Cabela's VISA - hells yeah ! love that card - I get about $400 worth of free fishing & boating {censored} every year just for using it (and yes, it is paid off every month - only way to go) Link to comment Share on other sites More sharing options...
Members GCDEF Posted March 18, 2011 Members Share Posted March 18, 2011 I love it that I get a facepalm for NOT wanting to be debt! God bless America!!! You don't have to be in debt just because you use a credit card. It's a convenience thing for me. It's pretty hard to make any kind of online or over the phone purchase without one. If you want to pay cash for your plane tickets, go ahead, but I'll take the convenience of a card and pay it off every month. Link to comment Share on other sites More sharing options...
Members Yarbicus Posted March 18, 2011 Members Share Posted March 18, 2011 You don't have to be in debt just because you use a credit card. It's a convenience thing for me. It's pretty hard to make any kind of online or over the phone purchase without one. If you want to pay cash for your plane tickets, go ahead, but I'll take the convenience of a card and pay it off every month. Well, I can respect that. Paying off ASAP is the only way they make sense. However, you ARE in debt even if it is only a week or two. And my VISA debit card works just as well. If want VISA protections, I just run it as a credit card rather than a debit. Link to comment Share on other sites More sharing options...
Members flump Posted March 18, 2011 Members Share Posted March 18, 2011 People still use credit cards? I use mine like a debit card. I pay it off in full every month. During that month more money stays in my savings account to get interest. I also get 1% back no matter what and 5% from grocery stores with my Chase Freedom card. I think it would be stupid not to use one. Link to comment Share on other sites More sharing options...
Members 3volved Posted March 18, 2011 Members Share Posted March 18, 2011 No...every time Discover raises my limit I seem to end up with more gear and deeper in debt. Link to comment Share on other sites More sharing options...
Members Kenny Powers Posted March 18, 2011 Members Share Posted March 18, 2011 I love it that I get a facepalm for NOT wanting to be debt! God bless America!!! how is it going into debt if you are charging what you have and paying off accordingly? at most its a "30 day debt" which wouldnt constitute as a debt in that time frame. god bless ignorance Link to comment Share on other sites More sharing options...
Members Kenny Powers Posted March 18, 2011 Members Share Posted March 18, 2011 I use mine like a debit card. I pay it off in full every month. During that month more money stays in my savings account to get interest. I also get 1% back no matter what and 5% from grocery stores with my Chase Freedom card. I think it would be stupid not to use one. well according to him you are stupid for using one, its someone elses money... oh the horror. Link to comment Share on other sites More sharing options...
Members guitarbilly74 Posted March 18, 2011 Members Share Posted March 18, 2011 I believe in making life easier too. I have no cell phone...no need for it. I still have my CRT 30+" TV, I don't use debit cards (one of top sources of identity theft)...etc. My motto is "If I don't need it, I don't need to buy it." (of course, I always NEED music equipment ) But... I use my card all the time, just pay it off at the end of the month. I get 1% cash back all the time with 5% cash back on selected categories each quarter. Use it for gas, heating oil, groceries, music equipment...etc. I end up making anywhere from 2-300 bucks a year (depending when the 5% discounts take over). Credit cards are easy as pie when used correctly. I understand that, but it's just one more bill to pay and balance and I don't have the time or the energy for it. I just use my debit card, which deducts the money from my checking account immediately and makes it easier to balance the finances. I do have a cash back/rewards thing attached to my debit card as well as a credit line, which I can pull for emergencies. I think it's just more convenient that way. But I had credit cards in the past and it was fine so I don't hate them but it's not something I really need at this point of my life. Link to comment Share on other sites More sharing options...
Members GCDEF Posted March 18, 2011 Members Share Posted March 18, 2011 Well, I can respect that. Paying off ASAP is the only way they make sense. However, you ARE in debt even if it is only a week or two. And my VISA debit card works just as well. If want VISA protections, I just run it as a credit card rather than a debit. I don't look at it as being in debt if I have the funds to cover it and know I'm going to pay it off. You say debit cards offer the same protection, but you would have to lose some leverage if the card company has already taken money from your account. They have their money and they have a much lower incentive to fight on your behalf. Link to comment Share on other sites More sharing options...
Members GCDEF Posted March 18, 2011 Members Share Posted March 18, 2011 Well, I can respect that. Paying off ASAP is the only way they make sense. However, you ARE in debt even if it is only a week or two. And my VISA debit card works just as well. If want VISA protections, I just run it as a credit card rather than a debit. I don't look at it as being in debt if I have the funds to cover it and know I'm going to pay it off. You say debit cards offer the same protection, but you would have to lose some leverage if the card company has already taken money from your account. They have their money and they have a much lower incentive to fight on your behalf. You also have the advantage of reviewing your bill for errors and fraud before you actually make a payment. With a debit card, the money is gone and you have to fight to get it back rather than them having to fight you to get it. I see no advantage to debit cards. Link to comment Share on other sites More sharing options...
Members abecon5 Posted March 18, 2011 Members Share Posted March 18, 2011 Citibank took my $25k, $0 balance card and increased the interest rate to 22% for no apparent reason.They also sold my mortgage to some {censored}ty nation star company that sucks complete ass. the {censored}! you bank with a bank called {censored}ybank and you are surprised:freak: Link to comment Share on other sites More sharing options...
Members LesPaulCustom79 Posted March 22, 2011 Members Share Posted March 22, 2011 All New York Bank credit card companies suck great big, smegma covered, green donkey Link to comment Share on other sites More sharing options...
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