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Posted: 9/22/2023 12:57:03 PM EST
[#1]
Quote HistoryQuoted: Way more ARFCOMers then are willing to admit. If not a member, certainly family members, friends and coworkers. Most of America cannot afford $1000 emergency payments. I’d venture as low as a $400 would wipe out most people’s cash reserve. |
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Posted: 9/22/2023 1:00:41 PM EST
[#2]
Quote HistoryQuoted: Why is paying off your credit card hard?  Because lots of people have no impulse control. When they want something...they want it NOW. So they just keep cracking up more and more debt. |
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Posted: 9/22/2023 1:08:58 PM EST
[#3]
Quote HistoryQuoted: 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. https://www.ar15.com/media/mediaFiles/70549/Screenshot_20230922-134819-2962312.png Same. Just bought two business class tickets to Thailand with the points from my reserve card. That being said, in my early 20s I was stupid and got into credit card debt. I get how it happens, but the key is to learn from mistakes you make. |
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Posted: 9/22/2023 1:21:45 PM EST
[#4]
Quote HistoryQuoted: Same. Just bought two business class tickets to Thailand with the points from my reserve card. That being said, in my early 20s I was stupid and got into credit card debt. I get how it happens, but the key is to learn from mistakes you make. So did I. Walked onto my college campus and there was gauntlet of credit card companies offering all kinds of swag and deals to sign up. I did and fucked up. Learned bigly. That said, this American first class seat needs updating.   |
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Posted: 9/22/2023 1:27:53 PM EST
[#5]
I work in the collections space.
Unless you default on 10k no one is suing you, some states don’t allow wage garnishments and if you’re poor you are judgement proof. Send a CND and take the credit hit for 7 years or negotiate and settle for half of what’s owed. All that being said now is NOT the time to have CC debt, hell it’s NEVER a good time to be in CC debt |
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Posted: 9/22/2023 2:15:27 PM EST
[#6]
I pay off my cards every month. And if a place says they are charging an additional fee, which is very rare IME, I don't shop there.
My credit isn't quite perfect but I'm trying.  Attached File |
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Posted: 9/22/2023 2:19:32 PM EST
[#7]
Quote HistoryQuoted: Not only do I not carry a balance or pay interest, they pay me 2% for using the card. This |
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Posted: 9/22/2023 2:23:28 PM EST
[#8]
I'll admit that I'm a credit deadbeat... Mine are use almost exclusively and get paid off every two weeks. The only reason I use them are for the perks.
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Posted: 9/22/2023 2:29:02 PM EST
[#9]
Lots of liar liar pants on fire in this thread.
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Posted: 9/22/2023 2:34:00 PM EST
[#10]
Quote HistoryQuoted: Lots of liar liar pants on fire in this thread. how so? |
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Posted: 9/22/2023 2:57:39 PM EST
[#11]
Quote HistoryQuoted: Lots of liar liar pants on fire in this thread. Come at me, bro 
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Posted: 9/22/2023 3:03:20 PM EST
[#12]
Quote HistoryQuoted: How do you make online hotel reservations or purchase plane tickets?  Quote HistoryQuoted: Quoted: I don't have any CCs I haven't done either of those on a personal card in years. All that went on my gov card. That said, we do currently have a balance. I also once put an entire bike on a CC, because they were going to charge me the same even if I went and got a certified check. Fuck it, swipe the card and send it! I mean, we had the cash, but still felt funny. |
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Posted: 9/22/2023 3:13:18 PM EST
[#13]
I’ll be honest I’m carrying a balance this month for the first time in probably 6 or 7 years.
Building a cabin is expensive. Luckily all the big expenses are over now and I’ll have the balance paid off next month. |
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Posted: 9/22/2023 3:23:05 PM EST
[#14]
Quote HistoryQuoted: I mean, we had the cash, but still felt funny. |
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Posted: 9/22/2023 3:34:03 PM EST
[#15]
i got closer to a balance than i'd like this month
had to take to selling shit so i wouldn't have to break into my emergency fund wife quit her job and went back to school to get more acronymns behind her name  enjoy the 32-20 brass, steve! but the rest of you bastards, you disgust me. all of my british field ration sales have been on ebay, ZERO sold here. i know you fuckers eat 
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Posted: 9/22/2023 3:38:47 PM EST
[#16]
Debt threads bring out the Arfcommers who pay for everything in cash. They are like vegans and crossfitters who cannot help but announce themselves.
So you don’t have a credit card? Weird flex but ok. |
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Posted: 9/22/2023 3:52:09 PM EST
[#17]
Quote HistoryQuoted: Debt threads bring out the Arfcommers who pay for everything in cash. They are like vegans and crossfitters who cannot help but announce themselves. So you don’t have a credit card? Weird flex but ok. Traveling without one (or three) would be a real SOB. |
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Posted: 9/22/2023 3:56:47 PM EST
[#18]
Quote HistoryQuoted: Traveling without one (or three) would be a real SOB. Quote HistoryQuoted: Quoted: Debt threads bring out the Arfcommers who pay for everything in cash. They are like vegans and crossfitters who cannot help but announce themselves. So you don’t have a credit card? Weird flex but ok. Traveling without one (or three) would be a real SOB. Even locally the last two places I went to buy something they couldn't break a $100 I was trying to use/break up as they didn't have enough cash to cover it due to it being morning time. |
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Posted: 9/22/2023 4:01:33 PM EST
[#19]
Quote HistoryQuoted: The bad news is you paid 3% extra for the product and getting 2% rebated. Not really, but if that was true, it's still 2% cheaper than paying cash. |
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Posted: 9/22/2023 4:05:52 PM EST
[#20]
Quote HistoryQuoted: I don’t have any CCs |
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Posted: 9/22/2023 4:24:36 PM EST
[#21]
Quote HistoryQuoted: Traveling without one (or three) would be a real SOB. Quote HistoryQuoted: Quoted: Debt threads bring out the Arfcommers who pay for everything in cash. They are like vegans and crossfitters who cannot help but announce themselves. So you don’t have a credit card? Weird flex but ok. Traveling without one (or three) would be a real SOB. There are people here with extremely different lives. I travel a lot, for work and personal, domestic and international. I couldn’t fathom doing it without a card. On the other hand we have people who have never left their state. |
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Posted: 9/22/2023 4:56:40 PM EST
[#22]
Quote HistoryQuoted: Debt threads bring out the Arfcommers who pay for everything in cash. They are like vegans and crossfitters who cannot help but announce themselves. So you don’t have a credit card? Weird flex but ok.  Attached File |
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Posted: 9/22/2023 5:01:25 PM EST
[#23]
Quote HistoryQuoted: There are people here with extremely different lives. I travel a lot, for work and personal, domestic and international. I couldn’t fathom doing it without a card. On the other hand we have people who have never left their state. Quote HistoryQuoted: Quoted: Quoted: Debt threads bring out the Arfcommers who pay for everything in cash. They are like vegans and crossfitters who cannot help but announce themselves. So you don’t have a credit card? Weird flex but ok. Traveling without one (or three) would be a real SOB. There are people here with extremely different lives. I travel a lot, for work and personal, domestic and international. I couldn’t fathom doing it without a card. On the other hand we have people who have never left their state. When I traveled Italy and France I tended to go out of my way to hit up the smaller local hangouts instead of the touristy joints and found cash was often the only option. So I would keep a lot of euros on hand. But having no CC would have been a real PITA. |
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Posted: 9/22/2023 7:34:42 PM EST
[#24]
Quote HistoryQuoted: Exactly! I have never talked to anyone who isn't "making money" off their credit card company. They're going to go out of business any day now. You can't stay in business while giving away money like they do. Well, it's the dumb people that pay 22% interest that make up the difference.. 
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Posted: 9/22/2023 7:36:43 PM EST
[#25]
I can’t speak for everyone but I nearly do.
800 ain’t perfect but it’s damn near there. And I use my 2 cards for everything I’m buying , pay it off when it posts. So a balance for a week at most. |
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Posted: 9/22/2023 7:37:11 PM EST
[#26]
Quote HistoryQuoted: The bad news is you paid 3% extra for the product and getting 2% rebated. nope, they sell the stuff at the same price independent of the payment method. Places that do charge more get cash or not shopped at. |
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Posted: 9/22/2023 7:37:42 PM EST
[#27]
Quote HistoryQuoted: The bad news is you paid 3% extra for the product and getting 2% rebated. What stores are giving you a 3% discount for cash? |
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Posted: 9/22/2023 7:38:44 PM EST
[#28]
Quote HistoryQuoted: Exactly! I have never talked to anyone who isn't "making money" off their credit card company. They're going to go out of business any day now. You can't stay in business while giving away money like they do. Naw, they make a shitload off of people that dont do that, carry a balance, and pay interest and late fees out the ass. And that’s probably the majority sadly |
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Posted: 9/22/2023 7:40:08 PM EST
[#29]
Quote HistoryQuoted: I haven’t paid cc interest in 30 years. My lifetime cc interest payments are about $187 OTOH, They have paid me $10,000 or more. Guess we can call it even. For some reason this triggers people, it’s like it’s not fair in their mind or something lol. Nothing stopping anyone from getting a card that has rewards, I guess unless you have none or shitty credit. |
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Posted: 9/22/2023 7:42:18 PM EST
[#30]
Quote HistoryQuoted: Because lots of people have no impulse control. When they want something...they want it NOW. So they just keep cracking up more and more debt. Quote HistoryQuoted: Quoted: Why is paying off your credit card hard? Because lots of people have no impulse control. When they want something...they want it NOW. So they just keep cracking up more and more debt. It should be easy. The thought of being in debt should be more anguishing than the thought of going without whatever trinket they think they need. It took me a while but I finally figured it out. |
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Posted: 9/22/2023 7:42:45 PM EST
[#31]
Quote HistoryQuoted: What stores are giving you a 3% discount for cash? Quote HistoryQuoted: Quoted: The bad news is you paid 3% extra for the product and getting 2% rebated. What stores are giving you a 3% discount for cash? retailers don't do it much but damned near ALL wholesalers do it and precious metals dealers, there's different prices there depending on what the humidity is |
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Posted: 9/22/2023 7:47:03 PM EST
[#32]
Quote HistoryQuoted: What stores are giving you a 3% discount for cash? Quote HistoryQuoted: Quoted: The bad news is you paid 3% extra for the product and getting 2% rebated. What stores are giving you a 3% discount for cash? Not too many I would think. Not a good reason NOT to pay with a CC. |
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Posted: 9/22/2023 7:51:28 PM EST
[#33]
My one card I use for gas since it’s 5% back, they deposit the cash back in a savings account, and usually when it hits $100 I transfer it to my IRA.
The other card they send you a check, so if I want the money I’ll request a check, then deposit that into the savings and send it to E*Trade. Extra step, but it is what it is. And every now and then I’ll use the cash back to buy something stupid. But smarter to save and invest. |
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Posted: 9/22/2023 7:58:04 PM EST
[#34]
Quote HistoryQuoted: Lots of liar liar pants on fire in this thread. That’s Projection. It’s your own dishonesty which compels you to say that. We’ve all seen it a hundred times over. The people who responded, are justly proud of their fiscal self discipline. It’s easy with these 3 simple steps: Earn more than you spend. Exercise self discipline. Log in, and click “Pay All” every month. |
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Posted: 9/22/2023 8:01:41 PM EST
[#35]
Quote HistoryQuoted: There are people here with extremely different lives. I travel a lot, for work and personal, domestic and international. I couldn’t fathom doing it without a card. On the other hand we have people who have never left their state. Quote HistoryQuoted: Quoted: Quoted: Debt threads bring out the Arfcommers who pay for everything in cash. They are like vegans and crossfitters who cannot help but announce themselves. So you don’t have a credit card? Weird flex but ok. Traveling without one (or three) would be a real SOB. There are people here with extremely different lives. I travel a lot, for work and personal, domestic and international. I couldn’t fathom doing it without a card. On the other hand we have people who have never left their state. We have a great many people here who never leave their small town. Most of those guys don’t leave their homes more than twice a month. The “basement dweller-hermit” myth is quite real. And then, we have the James bond, jetset crowd, who travel constantly. I’m pretty sure, there are no “normal” people at all. |
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Posted: 9/22/2023 8:05:50 PM EST
[#36]
Quote HistoryQuoted: It seems impossible because you’re poor. And you’re poor, because you don’t think it’s possible. I can actually remember the time and place when I resolved to never carry a CC balance. Promises kept. I ring up everything on the CC, and pay them off a couple times a month. It’s easy and rewarding. There are lots of reasons why I'm "poor". But calling a no-damnbody a liar on the Internet isn't one of them |
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Posted: 9/22/2023 8:13:41 PM EST
[#37]
Quote HistoryQuoted: The bad news is you paid 3% extra for the product and getting 2% rebated. |
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Posted: 9/22/2023 8:48:37 PM EST
[#38]
Quote HistoryQuoted: Snip... I’m pretty sure, there are no “normal” people at all. You're saying that running around in NODS and chug-puking isn't normal? |
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Posted: 9/22/2023 10:14:44 PM EST
[#39]
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.  I haven't had a cc balance in almost 30 years it's basic financial planning and responsibility |
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Posted: 9/22/2023 10:17:44 PM EST
[#40]
Quote HistoryQuoted: I thought GD kept wads of greasy cheetoh dusted cash in their XXXXL coveralls. Get both. |
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Posted: 9/22/2023 11:43:25 PM EST
[#41]
If there is anything that I want to buy I save up the entire amount of money in my bank first.
Then I charge the purchase of that item on my CC that gives me frequent flyer miles with my favorite airlines. I have that CC set up on auto pay with my bank, so there is no chance of a late payment as the entire balance is automatically paid each month. When I was living in the USA I had my electric and water utility bills automatically charged to this credit card as well as my home and auto insurance. I had basically everything I purchased set up on that card. When I bought my vehicles I would put the most money allowed (usually $5000) on my CC and write a check for the rest. I now have enough FF miles for multiple Business First flights to anywhere.  |
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Posted: 9/23/2023 6:46:13 AM EST
[#42]
I don't travel, rent cars or fly anywhere.
I like staying right here doing what I do on my own place. I live way below my means and have done so for decades. There was a time that I had a credit card and stacked many thousands of dollars of debt on that thing. Once we paid it off we vowed to never do that again and we've stuck to it. I am not anti-credit card at all, it's just that i don't have much use for one. Just like Matthew Quigley and pistols. Hope that I never need one. |
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Posted: 9/23/2023 7:04:23 AM EST
[#43]
Got 5 figures in credit card debt that keeps rolling over each month.
 Thanks to Powell, interest rate arbitrage is back.
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Posted: 9/23/2023 9:03:15 AM EST
[#44]
Quote HistoryQuoted: That’s Projection. It’s your own dishonesty which compels you to say that. We’ve all seen it a hundred times over. The people who responded, are justly proud of their fiscal self discipline. It’s easy with these 3 simple steps: Earn more than you spend. Exercise self discipline. Log in, and click “Pay All” every month. That's a good point, I have to say I am "proud" of my discipline. Valuable life lesson for us. Wife and I fucked up and carried a pretty big balance when we first started out. Clawed our way out and haven't had a balance in over 20 years. Only 2 cards and both pay cash back with lots of specials with different companies and services. I still use a lot of cash, and with the mom and pop smaller stores I always ask if there is a discount for cash purchases, works probably about 75% of the time. |
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Posted: 9/23/2023 9:13:13 AM EST
[#45]
Quote HistoryQuoted: That is changing. Some places just charge a service or connivence fee that is less or equal to the CC fee. Some charge a CC fee that is equal to what they pay. I've seen it range from half a percent to 3-4%. Service related (hvac, etc) have almost always charged a CC fee, some will advertise a cash discount, some you have to ask. Funny enough, when I bought a Rolex last year or the year before, I asked for a cash discount, they wouldn't do it because of Rolex's policy, even though they had to pay the 3% CC fee (it wasn't passed on.) So I made out with my 1.5% cash back. That'll show'em The GF now carries around cash, she will not pay a CC or service fee.
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Posted: 9/23/2023 10:09:07 AM EST
[#46]
The good news is, with 87% of everyone's purchases flowing through the too-big-to-fail banks, when the economy crashes next time our government won't have to waste any time deciding what to do...bailing them out is a no-brainer if we don't want it all to grind to a halt. And even better, we'll hardly notice when they switch us to digital currency. Just distribute the new cards and apps.
They bet on our short-sightedness, and willingness to be enticed by one or two percent, that we'd give up all control...and we did. But muh points guys led the way...the brilliant walk amongst us...and they double down, peacocking every time the subject comes up. |
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Posted: 9/23/2023 10:44:36 AM EST
[#47]
Quote HistoryQuoted: The good news is, with 87% of everyone's purchases flowing through the too-big-to-fail banks, when the economy crashes next time our government won't have to waste any time deciding what to do...bailing them out is a no-brainer if we don't want it all to grind to a halt. And even better, we'll hardly notice when they switch us to digital currency. Just distribute the new cards and apps. They bet on our short-sightedness, and willingness to be enticed by one or two percent, that we'd give up all control...and we did. But muh points guys led the way...the brilliant walk amongst us...and they double down, peacocking every time the subject comes up. Paper fiat currency with serial numbers on each bill in the information age isn't protecting you from shit. Everything tracks you. Your phone, your PC, your car. Cameras scattered around the countryside watch where you're going. Fun fact - you're already living in a surveillance state. You can say things like you only have a land line or a dumb cell... Sorry to say that doesn't matter either. Your money in the bank is ones and zeros anyway. This kind of stuff is so low on my list of worries that it barely registers. |
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Posted: 9/23/2023 10:49:05 AM EST
[#48]
I have 2 CC's. The missus has 2 or 3. The interest rate is 22% on each of them. But we pay them off each month. I think there may have been 1 or 2 times I can remember that either of us had a balance rolling over to the next billing cycle. And that was because either of us just plain forgot to pay it off the previous cycle.
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Posted: 9/23/2023 11:30:23 AM EST
[#49]
Quote HistoryQuoted: I am really skeptical about the whole rewards program. Somehow it's built into the system. They are not in the business to give you rewards. It's like zero-interest vehicle loans, the price already reflects the built-in interest payments. It's an accounting trick. Although, a part of me thinks if they are truly losing money on some while making a fortune off the majority who do carry a balance and make interest payment every month. They are still making money on the people who don't carry a balance. Merchants charge a transaction fee every time they swipe a card. Our business has quickbooks and has a decent rate of 2.25% but I think they're raising it to 2.5 (cocksuckers). So merchants are paying the 2% cash back with a .25% to the CC company. .25% on billions on billions in transactions is still making someone rich somewhere. When fraudulent charges happen, the CC doesn't just eat it, they charge back the company. And businesses have a hell of a time proving the purchase. When I get a chargeback, it's hell, we basically have to call the customer and ask them to call the CC company and reverse it (they didn't remember the purchase or didn't recognize our business name when it showed up on the statement). The idiots who pay CC interest are the ones who really make them rich. |
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Posted: 9/23/2023 10:31:56 PM EST
[#50]
Quote HistoryQuoted: Got 5 figures in credit card debt that keeps rolling over each month. Thanks to Powell, interest rate arbitrage is back.Elaborate? I imagine you are somehow buying treasuries or whatever on a 0% card? |
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