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Posted: 9/22/2023 7:02:13 AM EST
[#1]
Quote HistoryQuoted: Which one is 2? I just got a chase for 1.5. Other rewards programs involved also with other benefits. Quote HistoryQuoted: Quoted: Not only do I not carry a balance or pay interest, they pay me 2% for using the card. Which one is 2? I just got a chase for 1.5. Other rewards programs involved also with other benefits. Well Fargo visa pays 2% on everything. |
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Posted: 9/22/2023 7:03:33 AM EST
[#2]
I dont have a debit card. Only bummer about that is I have to go inside the bank to get money instead of using an ATM. Too lazy to go online and request one really.
I've always used credit cards and I don't think I've ever held a balance. I don't even look at my credit card bill until I'm paying it at the end of the month. I have some 6th sense of keeping the total in my head without even looking at this point. |
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Posted: 9/22/2023 7:04:56 AM EST
[#3]
don't charge if you can't pay it off at end of the month. I've had a credir card 40+ years. The only time I've gotten interest charges is when mailed in payment didn't get there on time
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Posted: 9/22/2023 7:08:04 AM EST
[#4]
Quote HistoryQuoted: I only carry a balance on one card and rotate it out every 7 months. Smart move if you're not paying interest or a high balance at a very low introductory rate |
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Posted: 9/22/2023 7:08:09 AM EST
[#5]
Quote HistoryQuoted: I dont have a debit card. Only bummer about that is I have to go inside the bank to get money instead of using an ATM. Too lazy to go online and request one really. I've always used credit cards and I don't think I've ever held a balance. I don't even look at my credit card bill until I'm paying it at the end of the month. I have some 6th sense of keeping the total in my head without even looking at this point. Check and see if your bank offers a non debit card version of an ATM card. Mine does. |
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Posted: 9/22/2023 7:13:35 AM EST
[#6]
Quote HistoryQuoted: The bad news is you paid 3% extra for the product and getting 2% rebated. Quote HistoryQuoted: Quoted: Not only do I not carry a balance or pay interest, they pay me 2% for using the card. The bad news is you paid 3% extra for the product and getting 2% rebated. The bad news is that if you didn’t use a CC, you still paid the 3% extra, but you didn’t get 2% back. |
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Posted: 9/22/2023 7:28:58 AM EST
[#7]
Guess I’m the only Arfcommer with CC debt.
$36k at the moment. Monthly interest charge is ~525 |
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Posted: 9/22/2023 7:34:41 AM EST
[#8]
There are plenty of people here with cc debt, they just don’t want to talk about it. I’ve paid a total of $86 in credit card debt in 15 years and that was my fault for miscalculating dates.
For every person that doesn’t carry a balance I’d wager there are at least 2 people that do. I had a family member that had their cc balances over $40k. She was partying it up traveling all over the country to party on travel credit cards. She earned points but those trips ended up costing her thousands more  For the cc shunners, I went to Japan this summer. I paid $240 total for hotels for 9 nights. My 5 nights in Tokyo and 2 in Osaka were paid in points 
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Posted: 9/22/2023 7:35:19 AM EST
[#9]
funny story, I don't know how my bank lets me keep my cash rewards credit card.
I got my first credit card in 2008 when I was in college. Mostly just to build my credit but also could be used in an emergency, at the time the limit was only $500 I put all my normal purchases on it. Food, gas, whatever and just paid it off every week. I still have the same account now 15 years later. I have never paid interest on it, paid off in full every week or so. Every month for 15 years ive collected the cash back rewards. So basically the bank is giving me free money every month. I have $35 on there right now to redeem 
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Posted: 9/22/2023 7:36:00 AM EST
[#10]
Quote HistoryQuoted: The bad news is you paid 3% extra for the product and getting 2% rebated. Quote HistoryQuoted: Quoted: Not only do I not carry a balance or pay interest, they pay me 2% for using the card. The bad news is you paid 3% extra for the product and getting 2% rebated. Not exactly. There isn’t a cash price for most stuff. In my case I put my business stuff on my Amex (I put everything on it) and have it worked out that I still keep my monthly discount at my suppliers. In a decent year that’s about $2500 cash back. Now in my early 20’s… I yolo’d credit cards. Bad. And I’d do it again! |
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Posted: 9/22/2023 7:37:10 AM EST
[#11]
Quoted: Because everyone here doesn't carry a balance and has perfect credit, cough! https://www.ar15.com/media/mediaFiles/140585/cc_PNG-2961838.JPG Haven’t used a credit card since 1997. Got in trouble with them and vowed never again. I have one now but never use it and the only debt I have is my house and one motorcycle. The house will be paid off next year, |
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Posted: 9/22/2023 7:39:32 AM EST
[#12]
Quote HistoryQuoted: The bad news is you paid 3% extra for the product and getting 2% rebated. Correct, and possibly more than that. If retailers sold their goods at two prices one of which discounted the credit card fees I would be inclined to pay cash for products. Since this doesn’t happen I offset the additional expense as much as possible with my CC rewards and have an autopay balance set on my banks website. |
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Posted: 9/22/2023 7:41:56 AM EST
[#13]
Quote HistoryQuoted: I haven't had a mill stone around my neck in decades.  The whole concept that someone needs so many things so badly they're willing to suffer double digit interest rates amazes me.  Credit cards are like selling yourself into indentured servitude for trinkets that will be broken and thrown away in a year and make it turned to turds. |
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Posted: 9/22/2023 7:43:43 AM EST
[#14]
Quote HistoryQuoted: Not only do I not carry a balance or pay interest, they pay me 2% for using the card. Same here. |
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Posted: 9/22/2023 7:45:24 AM EST
[#15]
Quote HistoryQuoted: Credit cards are like selling yourself into indentured servitude for trinkets that will be broken and thrown away in a year and make it turned to turds. Quote HistoryQuoted: Quoted: I haven't had a mill stone around my neck in decades. The whole concept that someone needs so many things so badly they're willing to suffer double digit interest rates amazes me. Credit cards are like selling yourself into indentured servitude for trinkets that will be broken and thrown away in a year and make it turned to turds. Your mind is enslaved thinking that CC=debt. |
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Posted: 9/22/2023 7:46:16 AM EST
[#16]
I'm sitting here in a first class lounge at LHR waiting for my first class flight back to the USA, paid for by points I didn't pay interest on.
I guess I'm doing it wrong.  ETA Chase Sapphire Reserve.  |
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Posted: 9/22/2023 7:47:57 AM EST
[#17]
Quote HistoryQuoted: Not only do I not carry a balance or pay interest, they pay me 2% for using the card.  Attached File |
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Posted: 9/22/2023 7:48:25 AM EST
[#18]
Quote HistoryQuoted: Guess I’m the only Arfcommer with CC debt. $36k at the moment. Monthly interest charge is ~525 Best of luck to you Sir. I hope you can knock that down soon. |
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Posted: 9/22/2023 7:49:04 AM EST
[#19]
Quote HistoryQuoted: Your mind is enslaved thinking that CC=debt. Correct. Debt=Debt. CC=using someone else's money for a month. If you can't pay off at the end of the month that's on you unless an extreme emergency. If I can't afford to buy it twice with cash, I don't buy it at all. |
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Posted: 9/22/2023 7:49:16 AM EST
[#20]
i carry two american express cards just for groceries
one gives me 6% up to $6000 for $95/yr when i use up the full $6000 worth of 6% i switch to the one that gives me 3% unlimited on groceries for $0/yr debit card... lulz |
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Posted: 9/22/2023 7:50:03 AM EST
[#21]
Most people on here have money.
That is a fact. You cant be in this hobby and not have a good income. I received advice from people here that increased my net worth by 15% I only use a credit card and have done so for years. The protection is worth it. I know you will have the same protection with a debit but you have to wait to get your money back. With a credit card it is their money. Saving 5% on Amazon, 2% I think on gas and groceries and 1% on everything else is a no brainer. |
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Posted: 9/22/2023 7:56:18 AM EST
[#22]
Quote HistoryQuoted: Not only do I not carry a balance or pay interest, they pay me 2% for using the card. This. Or more depending on card and category. Heck, in the delay until I pay I also generate 4+ %. Unless you're really young and getting established or a costly emergency comes up I can't see why anyone would carry a balance on a credit card. It means you're living beyond your means. Even if you must carry a balance you can generally find a balance transfer card that will save you considerably on interest. It might be a bit harder to not pay at least 3% as a "fee" right now, but I've taken advantage of new cards or balance transfers for large purchases in the past. Even when my HYSA was yielding under 1%, credit card interest rates were still double digit. Other debt I can understand--modest student loans that one can expect a good return on, mortgages, car loans, certain health and pet related debt, etc. can be part of a responsible financial life. Routine carrying or CC debt is not healthy, regardless of what rates are. You don't have to be rich to mostly avoid paying usurious interest rates. You just have to be responsible. A lot of the poor people I know pay ridiculous amounts in interest, fees, etc. that could easily be avoided. I wonder why they're poor? |
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Posted: 9/22/2023 7:59:26 AM EST
[#23]
Quote HistoryQuoted: Your mind is enslaved thinking that CC=debt. Fine. I’m happy with that. Everyone has different life experiences. Twice in my life I have had misfortune and the economy isn’t me right back down to zero. Being debt free is a nice problem to have. |
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Posted: 9/22/2023 8:03:49 AM EST
[#24]
Quote HistoryQuoted: Guess I’m the only Arfcommer with CC debt. $36k at the moment. Monthly interest charge is ~525 You're not. I've got some as well from my divorce that I'm slowly paying off. 0% balance transfer cards are a godsend for situations like that. Look up some cards that are good for 0% balance transfers and move your debt over to those. |
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Posted: 9/22/2023 8:04:55 AM EST
[#25]
Quote HistoryQuoted: Ok. You raised a great point. DO NOT bring your CC to the strip club. Folding money only! Quote HistoryQuoted: Quoted: I appreciate the suggestions, but I don't keep that much in debit accounts. I know how much I need to pay each month for normal stuff, everything else is funneled into savings or retirement. Or titties. Ok. You raised a great point. DO NOT bring your CC to the strip club. Folding money only!  |
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Posted: 9/22/2023 8:05:04 AM EST
[#26]
Quote HistoryQuoted: i carry two american express cards just for groceries one gives me 6% up to $6000 for $95/yr when i use up the full $6000 worth of 6% i switch to the one that gives me 3% unlimited on groceries for $0/yr debit card... lulz I just upgraded my AMEX card to the 6% one you mentioned. |
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Posted: 9/22/2023 8:10:05 AM EST
[#27]
I absolutely carried cc debt in my younger years, and pissed away piles of money doing so.
I don't do it any longer. I use 2 different cards extensivly (1 for business and 1 for personal) and pay them off AT LEAST monthly, sometimes weekly. I am also older now, no longer raising kids, and my finances are way simple. I know from experience that it is hard to manage money with 3 kids and a wife "needing" things.... |
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Posted: 9/22/2023 8:30:52 AM EST
[#28]
Quoted: Because everyone here doesn't carry a balance and has perfect credit, cough! https://www.ar15.com/media/mediaFiles/140585/cc_PNG-2961838.JPG I'm not sure what point you're trying to make but.... I have 2 credit cards with balances on them. Both are at 0% and one is for my business. All my other credit cards are paid off monthly. |
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Posted: 9/22/2023 8:32:34 AM EST
[#29]
I’m so rich, I max out multiple cards, only pay the minimum payment and asked the bank to raise my rate.
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Posted: 9/22/2023 8:34:30 AM EST
[#30]
Quote HistoryQuoted: Guess I’m the only Arfcommer with CC debt. $36k at the moment. Monthly interest charge is ~525 I had credit card debt when I was young and made poor financial choices. I thought it was normal. All my friends carried a balance too. This was during and right after college, until I was 35 years old.... when I woke up and realized how dumb it was to pay anything to service debt that was totally unnecessary. But back then it was usually less than $5000. When I hit age 35, I read Dave Ramsey's book and started a journey that changed everything for me, and money. |
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Posted: 9/22/2023 8:35:32 AM EST
[#31]
Quote HistoryQuoted: Fine. I’m happy with that. Everyone has different life experiences. Twice in my life I have had misfortune and the economy isn’t me right back down to zero. Being debt free is a nice problem to have. Quote HistoryQuoted: Quoted: Your mind is enslaved thinking that CC=debt. Fine. I’m happy with that. Everyone has different life experiences. Twice in my life I have had misfortune and the economy isn’t me right back down to zero. Being debt free is a nice problem to have. Pssst. You can be debt free and still use credit cards, and never pay a dime in interest. |
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Posted: 9/22/2023 8:36:44 AM EST
[#32]
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Posted: 9/22/2023 8:37:32 AM EST
[#33]
Quote HistoryQuoted: Not only do I not carry a balance or pay interest, they pay me 2% for using the card. |
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Posted: 9/22/2023 8:39:44 AM EST
[#34]
Quote HistoryQuote History 
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Posted: 9/22/2023 8:41:59 AM EST
[#35]
CC with rewards and interest free payments are my jam. Recently made a big purchase so I'll be taking advantage of 6 months payment with no interest. Same thing on Amazon Prime. But only used that card once.
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Posted: 9/22/2023 8:42:33 AM EST
[#36]
I Posted 7% earlier, but after I checked it's only 6%.
Still, 6% on $6k in groceries annually, then another 5% on $1,500 in groceries, 2% if I spend more than that. I've never seen my grocery store (liquor store counts too) advertise a cash price. Everyone pays the same premium I do, I'm just effectively getting a discount. That doesn't even include gas, which more than covers the annual fee. |
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Posted: 9/22/2023 8:46:40 AM EST
[#37]
Quote HistoryQuoted: don't charge if you can't pay it off at end of the month. I've had a credir card 40+ years. The only time I've gotten interest charges is when mailed in payment didn't get there on time I pay my balance in full a few days before the statement is calculated. If the statement is always $0, you'll never owe a payment. It provides a buffer for errors or issues. |
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Posted: 9/22/2023 8:48:58 AM EST
[#38]
Quote HistoryQuoted: i carry two american express cards just for groceries one gives me 6% up to $6000 for $95/yr when i use up the full $6000 worth of 6% i switch to the one that gives me 3% unlimited on groceries for $0/yr debit card... lulz Discover doesn't have a fee and will do 5% on $1,500 of groceries for one of the quarterly rotations. It compliments my AmEx when I hit the $6k limit. |
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Posted: 9/22/2023 8:51:17 AM EST
[#39]
Quote HistoryQuoted: Fine. I’m happy with that. Everyone has different life experiences. Twice in my life I have had misfortune and the economy isn’t me right back down to zero. Being debt free is a nice problem to have. Quote HistoryQuoted: Quoted: Your mind is enslaved thinking that CC=debt. Fine. I’m happy with that. Everyone has different life experiences. Twice in my life I have had misfortune and the economy isn’t me right back down to zero. Being debt free is a nice problem to have. There is no debt. Do you keep a check register for your debit card? A CC can be used the same way. Nothing left on the register, no more CC swipes. |
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Posted: 9/22/2023 8:51:36 AM EST
[#40]
Wait.
I wasn't supposed to cash out refi all the equity from my home at 3% a few year back? And then I wasnt supposed to max out all my credit cards. And then when the economy craps out 4th quarter this year just stop paying on it all. Pull out all the cash at the atm each month until the music stops. And by then be hidden in the enormous wave of bankruptcy and foreclosures all while having made out like a bandit. If I didn't have a drug problem 'wink wink'....because no telling where that money went. Fuck, they are going to be soo damn overwhelmed they won't even bother looking too hard for it. Not a one of you understands leveraging credit or finance. Nor did you learn anything from what they are calling the "great recession" that they denied the whole time we were ever in. These corporations post record profits by charging higher rates to mitigate their risk. Means they obviously don't have enough risk. When that changes they will get bailed out again. And their profits will be protected. Meanwhile everyone in here is standing proud boasting their free miles, 100% payment history, and cash back. While missing the point entirely. Yall are the very same people bemoaning the increasing national debt caused by bailing out these same companies. All to protect profit. Cashback is not profit. Miles are not profit. This game is about hedging to protect and ensure profit. |
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Posted: 9/22/2023 8:51:37 AM EST
[#41]
Quote HistoryQuoted: I pay my balance in full a few days before the statement is calculated. If the statement is always $0, you'll never owe a payment. It provides a buffer for errors or issues. Quote HistoryQuoted: Quoted: don't charge if you can't pay it off at end of the month. I've had a credir card 40+ years. The only time I've gotten interest charges is when mailed in payment didn't get there on time I pay my balance in full a few days before the statement is calculated. If the statement is always $0, you'll never owe a payment. It provides a buffer for errors or issues. That is a true statement - but totally unnecessary. There is no need for the statement balance to be zero, to avoid paying interest. Just pay the statement balance in full by the due date. You will not pay interest. Set up auto-pay and be done with it. But you are right, if the statement balance is zero, you cannot get into a spot where if something goes wrong, you accidentally owe interest. In 35 years of using credit cards, that has never happened a single time to me. |
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Posted: 9/22/2023 8:53:36 AM EST
[#42]
Plenty of GD carries a balance. I know because all the poors outed themselves with their behavior in the Corvette thread.
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Posted: 9/22/2023 8:58:31 AM EST
[#43]
Quote HistoryQuoted: Pssst. You can be debt free and still use credit cards, and never pay a dime in interest. I’m aware of that. |
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Posted: 9/22/2023 8:58:54 AM EST
[#44]
Quote HistoryQuoted: Plenty of GD carries a balance. I know because all the poors outed themselves with their behavior in the Corvette thread. |
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Posted: 9/22/2023 9:14:32 AM EST
[#45]
Quote HistoryQuoted: I had credit card debt when I was young and made poor financial choices. I thought it was normal. All my friends carried a balance too. This was during and right after college, until I was 35 years old.... when I woke up and realized how dumb it was to pay anything to service debt that was totally unnecessary. But back then it was usually less than $5000. When I hit age 35, I read Dave Ramsey's book and started a journey that changed everything for me, and money. Quote HistoryQuoted: Quoted: Guess I’m the only Arfcommer with CC debt. $36k at the moment. Monthly interest charge is ~525 I had credit card debt when I was young and made poor financial choices. I thought it was normal. All my friends carried a balance too. This was during and right after college, until I was 35 years old.... when I woke up and realized how dumb it was to pay anything to service debt that was totally unnecessary. But back then it was usually less than $5000. When I hit age 35, I read Dave Ramsey's book and started a journey that changed everything for me, and money. I obviously wouldn't ever recommend CC debt, but having CC debt in my 20s for no respectable reason taught me a lot of financial discipline. It was one of the things that made me realize I needed to manage finances better. |
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Posted: 9/22/2023 9:23:17 AM EST
[#46]
Quote HistoryQuoted: That is a true statement - but totally unnecessary. There is no need for the statement balance to be zero, to avoid paying interest. Just pay the statement balance in full by the due date. You will not pay interest. Set up auto-pay and be done with it. But you are right, if the statement balance is zero, you cannot get into a spot where if something goes wrong, you accidentally owe interest. In 35 years of using credit cards, that has never happened a single time to me. Quote HistoryQuoted: Quoted: Quoted: don't charge if you can't pay it off at end of the month. I've had a credir card 40+ years. The only time I've gotten interest charges is when mailed in payment didn't get there on time I pay my balance in full a few days before the statement is calculated. If the statement is always $0, you'll never owe a payment. It provides a buffer for errors or issues. That is a true statement - but totally unnecessary. There is no need for the statement balance to be zero, to avoid paying interest. Just pay the statement balance in full by the due date. You will not pay interest. Set up auto-pay and be done with it. But you are right, if the statement balance is zero, you cannot get into a spot where if something goes wrong, you accidentally owe interest. In 35 years of using credit cards, that has never happened a single time to me. It's for the buffer. If anything happens I have a month to float it. Hospital, banking issues, etc. I was replying to someone that had to pay interest when their payment didn't clear in time. |
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Posted: 9/22/2023 9:35:12 AM EST
[#47]
Quote HistoryQuoted: Wait. I wasn't supposed to cash out refi all the equity from my home at 3% a few year back? And then I wasnt supposed to max out all my credit cards. And then when the economy craps out 4th quarter this year just stop paying on it all. Pull out all the cash at the atm each month until the music stops. And by then be hidden in the enormous wave of bankruptcy and foreclosures all while having made out like a bandit. If I didn't have a drug problem 'wink wink'....because no telling where that money went. Fuck, they are going to be soo damn overwhelmed they won't even bother looking too hard for it. Not a one of you understands leveraging credit or finance. Nor did you learn anything from what they are calling the "great recession" that they denied the whole time we were ever in. These corporations post record profits by charging higher rates to mitigate their risk. Means they obviously don't have enough risk. When that changes they will get bailed out again. And their profits will be protected. Meanwhile everyone in here is standing proud boasting their free miles, 100% payment history, and cash back. While missing the point entirely. Yall are the very same people bemoaning the increasing national debt caused by bailing out these same companies. All to protect profit. Cashback is not profit. Miles are not profit. This game is about hedging to protect and ensure profit. So you are saying we should barter with goats and beads to buck the system? I mean I’m a bit of an ideologue myself but I try to separate fantasy from reality. |
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Posted: 9/22/2023 9:36:56 AM EST
[#48]
Quote HistoryQuoted: Discover doesn't have a fee and will do 5% on $1,500 of groceries for one of the quarterly rotations. It compliments my AmEx when I hit the $6k limit. Quote HistoryQuoted: Quoted: i carry two american express cards just for groceries one gives me 6% up to $6000 for $95/yr when i use up the full $6000 worth of 6% i switch to the one that gives me 3% unlimited on groceries for $0/yr debit card... lulz Discover doesn't have a fee and will do 5% on $1,500 of groceries for one of the quarterly rotations. It compliments my AmEx when I hit the $6k limit. before joe that $6000 would aaaaaaaaalmost last me the whole year i switched already this year, in august
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Posted: 9/22/2023 9:46:36 AM EST
[#49]
Quote HistoryQuoted: That’s unwise on many levels. Quote HistoryQuoted: Quoted: I don’t have any CCs That’s unwise on many levels. I HAD cards that the ex-wife and I ran up to the stars. I paid them off and destroyed them. My new wife has her own credit cards that she keeps at a very manageable level, but I don't have a single one. Don't miss them, don't need anything right now. |
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Posted: 9/22/2023 11:56:00 AM EST
[#50]
I paid a shit load in interest back when I was young and dumb. Learned my lesson hard. Even went a couple of years without a single CC after I managed to pay off the balance.
Now I have one card I use for everything and I wipe the balance off every 2 weeks. |
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