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Credit cards

Re: Re: Re: Credit cards

Joc said:
i've used debit card since I was in my late teens. Dont own a credit card but me and my wife have talked about getting one for when we travel and have and unseen expense or break down. Still never got around to looking for the best option on one.
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And if someone steals your credit card, no big deal. Just file a complaint and go on with life.

The credit card company will usually catch it before you do.

If your bank account info or debit card gets stolen, and all your money gets stolen, you are ****ed until you can get it straightened out with the bank.


Also, most "real" credit cards have built in insurance for things like canceled flights, rental cars, emergency medical services while traveling, etc
 
I hate using a credit card for anything, that being said I will make a big purchase on it and pay it off over a few months. I have a credit card through the credit union where I bank, low terms and it is easy to pay online right from my checking account, also have a debit card that I use for gas and other crap that I don't carry enough cash for. I get zero rewards, but it works for me since it is easy to keep up with everything.

I had a Discover card and it took me forever to get any rewards because I rarely used it, and they pissed me off, forget why :dunno: Dad just bought over $700 worth of lumber using home depot gift cards from Amex, but he has been saving points for years for them.
 
Re: Re: Re: Credit cards

TBItoy said:
If your bank account info or debit card gets stolen, and all your money gets stolen, you are ****ed until you can get it straightened out with the bank.
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This is the only draw back but in over 15 years ive never had my money wiped out. I have had my card locked down by the "watchdog" company that monitors it. Luckily they were doing their job that day lol. I also found out when I did the pool that you have limits each day that your debit card can do. I was trying to pay 100% on the fence i ordered from NC. Well that turned into a headache and trips to the bank b/c it was getting denied and the money was there. Turns out the limit was $2500 per day so they took the limit if off for that one purchase and I think I can even have the amount lowered.
 
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Discover card has a phone app that notifies me of any charges within seconds of being used.

Pretty easy to maintain right there.

Helps insure there's no surprises at month end.
 
Amex rewards gold card. Good rewards program and it's paid off at the end of the month. That's how I've done it for 20+ years. You should have seen the rewards pile up as WFO was built!
 
crawlin85cj said:
Amex rewards gold card. Good rewards program and it's paid off at the end of the month. That's how I've done it for 20+ years. You should have seen the rewards pile up as WFO was built!
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That is what I have used for my business expenses since 1984. Used to get real good perks on points, especially since I found out Amazon takes them. However, now that I have retired, I rarely use it. This year, at renewal, I will let it lapse unless they comp me the fees. I have never asked. But I won't pay $85 (card) plus $35 (points) for a card I don't use much anymore.

I still use two other credit cards that have cash back for most purchases that are not PayPal. Very rarely do I shop in person, but I pay cash when I do, unless for some reason, I need to track the purchase.
 
anyone that uses a debit card every day and is scared of a CC is either irresponsible, or ignorant (ignorant, not stupid, not dumb; intentionally uninformed).
When I used a DC all the time ( I had a paycheck. now I don't, so I pay cash) I kept a perfect record of my expenditures in my register, as if I were writing a check. I balanced my register all the time. I could go as low as $.01 in my account and I have never had an overdraft charge.
That was dumb. At the end of my day job employment, I started using a cc. Keep the SAME TRACK OF SPENDING that you would with a dc. I wrote my cc transactions down like i was using my dc. The bank still says I have that amount of money in it (not going down) but it is already spent, because a quick look in the register tells me where my real balance, the amount of money I really have, is.
You are doing 2 things. If you have a low score, it helps. At the end of the month, take that money you didn't spend on a dc and pay the cc. ZERO INTEREST IS CHARGED IF YOU PAY OFF AT THE END OF THE MONTH! You are also earning points on purchases you would have made anyway, gas, food, auto repair, WTF ever you buy, tampons. what. the. ****. ever

Just don't be dumb. That's really it, keep records, don't overspend, pay off at month's end. That's it. Free money in points. FREE money. If you're responsible.
 
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When I was in college I got myself over my head in cc debt but now I think I might just be able to handle it and earn the points.
 
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onepieceatatime said:
When I was in college I got myself over my head in cc debt but now I think I might just be able to handle it and earn the points.
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gotta admit, I did too. Paid it off quick when I got out. My wife has twice. Hold her if she does it again I am divorcing her. No bullshit. No tolerance for it. No excuse. Live in your means.
 
I agree with almost all of this. I am personally on the Dave Ramsey plan and only owe on the house. However, I go through at least $1,500 a month in work expenses. I get 1.5 percent cash back on those purchases. I pay it off every month with my expense check. I let the cash back build until I have enough money to purchase whatever I want for my jeep. I use it as fun money.
If you have no discipline with money or no self control NEVER get a credit card. I came out of college with somewhere around 60k in debt. I worked my ass off to pay it all off. I will never go back to borrowing for things I WANT.
And Cole is exactly right. You can have a 6 figure income for several years and be turned down on a mortgage loan because of bad or no credit. It's a shitty system but that's how it works.
 
Got a 1.5% cashback Capital One card one the way. I'm pretty sure the fact that I was nervous just signing up for it after my past experience with credit cards 10 years ago tells me that I wont do that **** again and this will only help me out in the long wrong. I primarily did it for credit reasons. I don't have bad credit but I really want to have great credit, not that I take out loans but when I go to buy a house I know it will only help.
 
onepieceatatime said:
Got a 1.5% cashback Capital One card one the way. I'm pretty sure the fact that I was nervous just signing up for it after my past experience with credit cards 10 years ago tells me that I wont do that **** again and this will only help me out in the long wrong. I primarily did it for credit reasons. I don't have bad credit but I really want to have great credit, not that I take out loans but when I go to buy a house I know it will only help.
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You can setup automatic payments with this card that pays the balance due every month. That's what I do and they've raised my limit twice and my credit score has jumped 15 points in the last several months.
 
crawlin85cj said:
Amex rewards gold card. Good rewards program and it's paid off at the end of the month. That's how I've done it for 20+ years. You should have seen the rewards pile up as WFO was built!
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Word. I've had my Gold for about 12 years. I initially balked at the annual fee, but its worth it if you use it for everything.
I built a Unicorn, and with the rewards took my wife on vacation Playa to celebrate its grand birth. It was like a push present, LOL.
 
I had 135 dollars stolen out of my debit card yesterday in Grove City Ohio at a Kroger...! My banks fraud department saw it and immediately shut down my account. I actually got my first credit card this year just to use while traveling or reserve a room for vacation.
 

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