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Posted on 4/14/14 at 7:12 am to ShubutaMS
quote:
Everything that can be paid by CC goes on the Amex.
Posted on 4/14/14 at 7:13 am to St Augustine
None at all.
Y'all must have a lot of free time to figure out all the hoops to continually jump through to earn ten cents. Not worth my time. Hard to believe its worth yours.
Do y'all list it on your résumé? "Credit Card offer analyst. Expert Level."
No thanks.
Plus I'd end up carrying a balance and it would cost me big time. So no. No personal credit cards. Hell, I don't even have a debit card. Old school. No worries.
Y'all must have a lot of free time to figure out all the hoops to continually jump through to earn ten cents. Not worth my time. Hard to believe its worth yours.
Do y'all list it on your résumé? "Credit Card offer analyst. Expert Level."
No thanks.
Plus I'd end up carrying a balance and it would cost me big time. So no. No personal credit cards. Hell, I don't even have a debit card. Old school. No worries.
Posted on 4/14/14 at 7:13 am to DawgCountry
All depends on me but normally about 1500 a month goes onto CC. I pay it off every month but get rewards.
Posted on 4/14/14 at 7:14 am to TheIndulger
quote:
Missing out on rewards bro
Lol. This is a huge misconception. You've got
to be trolling.
Posted on 4/14/14 at 7:16 am to Supermoto Tiger
Why is that a misconception? I literally pay $0.00 a month and get like $1,000 back a year
Posted on 4/14/14 at 7:19 am to Thib-a-doe Tiger
I've put all my expenses on CC for 10 years.
0 dollars in interest paid. I've probably saved 10k easy. It's not for everyone but for the disciplined person it's an easy way to make a few extra bucks.
0 dollars in interest paid. I've probably saved 10k easy. It's not for everyone but for the disciplined person it's an easy way to make a few extra bucks.
Posted on 4/14/14 at 7:32 am to Supermoto Tiger
quote:
Missing out on rewards bro Lol. This is a huge misconception. You've got to be trolling.
I'm not a big credit card junkie and only have a couple cards so I'm not defending the rewards crowd. But how is it a huge misconception? I don't use the cards that much but I still get a decent amount of rewards. Plus I get the benefit of them raising my FICO score when I use them responsibly and not carry a huge balance.
Posted on 4/14/14 at 7:38 am to JonTheTigerFan
He is saying it isn't as easy as everyone in this thread makes it out to be.
According to real statistics (not the OT BS) many people might begin with the intention of paying it off every month but don't actually do so. They may at first but eventually the majority fall into the trap. CC companies know this so they offer rewards to encourage people to use their cards more.
All it takes is one circumstance where someone doesn't pay it off that month (like losing a job for example) and they have you where they want you. You are now paying 90% of your monthly payment to interest and fees and never really making headway on the balance.
According to real statistics (not the OT BS) many people might begin with the intention of paying it off every month but don't actually do so. They may at first but eventually the majority fall into the trap. CC companies know this so they offer rewards to encourage people to use their cards more.
All it takes is one circumstance where someone doesn't pay it off that month (like losing a job for example) and they have you where they want you. You are now paying 90% of your monthly payment to interest and fees and never really making headway on the balance.
Posted on 4/14/14 at 7:40 am to Teddy Ruxpin
Teddy, does
Is this considered cancelling, and does it affect your score?
My parents got a CC in my name when I was like 12 to build credit. It's an old account, don't want to lose it, decently high limit that I use once every 6 months to keep around, but I do want to move it to a better version of a BoA card. I don't want to ping my credit with the cancel/change then ping it again with an application for a better travel card all in a month's time. Thoughts?
quote:
Another route is to go ahead and cancel the card but only do it by transferring the credit line to a new card you open with the same bank issuer. Ex. Close Chase United Card with 10k credit line into a Chase Hyatt and Chase Southwest with 5k limits each.
Is this considered cancelling, and does it affect your score?
My parents got a CC in my name when I was like 12 to build credit. It's an old account, don't want to lose it, decently high limit that I use once every 6 months to keep around, but I do want to move it to a better version of a BoA card. I don't want to ping my credit with the cancel/change then ping it again with an application for a better travel card all in a month's time. Thoughts?
This post was edited on 4/14/14 at 7:47 am
Posted on 4/14/14 at 7:41 am to stout
ZERO! Cash or debit card. I use my CC's once a year just to keep them active if I ever would need them.
Posted on 4/14/14 at 7:55 am to fishfighter
There is no reason to use a debit card unless you need to take money out of the ATM. Have fun when someone gets access to your debit card number. On the other hand a credit card company like Amex will contact you (call/email/text) if they suspect fraudulent charges.
Posted on 4/14/14 at 8:05 am to saderade
quote:
saderade How much money per month do you put on your credit card? There is no reason to use a debit card unless you need to take money out of the ATM. Have fun when someone gets access to your debit card number. On the other hand a credit card company like Amex will contact you (call/email/text) if they suspect fraudulent charges.
From my bank, USAA.
quote:
Zero Liability Policy You are not responsible for unauthorized purchases made on your USAA credit or debit cards if you notify us promptly by calling us at 1-800-531-USAA (8722).
Posted on 4/14/14 at 8:05 am to saderade
My bank does the same. You must have a shitty bank if yours doesn't.
Posted on 4/14/14 at 8:07 am to stout
Many people are misinformed about the use of debit vs. credit cards and a cardholder's liability.
Posted on 4/14/14 at 8:08 am to stout
Of course my bank does but it was a much bigger pain in the arse than having the same thing happen with my credit card. I have dealt with both unfortunately.
Posted on 4/14/14 at 8:09 am to Will Cover
No bank would stay in business if they judt told you sorry...your loss.
Posted on 4/14/14 at 8:11 am to stout
Having worked at a bank I can say almost all banks will cover you for fraudulent expenses. However when it happens it is a HUGE pain in the arse to take care of. You typically will lose access to cash pretty quick and if you live paycheck to paycheck and money you need for checks isn't in your account they may be returned. Some banks will give you provisional credit quicker than others. For me I would rather have the safety of knowing that if my card was stolen and charges were racked up it would be on my Amex rather than coming out of my bank account.
Posted on 4/14/14 at 8:11 am to ShubutaMS
anything that CAN go on a credit card, DOES
i have about 5 cards that I use for different purposes
probably put about 4K a month on them, give or take
i have about 5 cards that I use for different purposes
probably put about 4K a month on them, give or take
Posted on 4/14/14 at 8:12 am to ShubutaMS
My wife and all if my day to day purchases and most of our bills go on our AMEX. It's around $1200-1400 on a normal month. We never carry a balance, and pay it completely every month.
This post was edited on 4/14/14 at 8:13 am
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