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re: Shoppers that use cash/debt are are subsidizing Americans’ cc reward points by $30billion
Posted on 6/4/26 at 11:45 am to HeartAttackTiger
Posted on 6/4/26 at 11:45 am to HeartAttackTiger
quote:
Actually, my checking account pays 8%, as long as there is one direct deposit a month and 15 debit card transactions. Kinda hard to replicate that in rewards on a CC.
Now I will admit it is limited to $35k.
What bank?
1
Posted on 6/4/26 at 11:56 am to Chucktown_Badger
quote:
You do understand that it's possible/legal to pay off your credit card in full each month, yes? So at the end of the day you net out the same from a cost perspective except the person who put all their purchases on the card gets the rewards/miles/cash back?
and you do realize most americans do not do this right...luckily i was taught to pay it off every month. I still like to always have cash on me if something comes up
Posted on 6/4/26 at 11:58 am to SludgeFactory
quote:
got a CC with high rewards, use it daily, then pay it in full every month
This is the way.
My college age kids took a Dave Ramsey course so they think all CCs are evil.
I've had to educate them on the benefits of having a CC, as long as you pay it off every month.
Builds credit, much more convenient than cash or even a debit card, transaction protection, and reward points.
Posted on 6/4/26 at 12:00 pm to clamdip
So if I pay at Target for groceries with a rewards card are you saying I pay more than those than with a SNAP/EBT?
Posted on 6/4/26 at 12:10 pm to Chucktown_Badger
Commercial Capital
Posted on 6/4/26 at 12:25 pm to Topwater Trout
quote:
and you do realize most americans do not do this right.
I do realize that. But I also don't care what others do. I pay it in full all the time so I can reap the most benefits.
Posted on 6/4/26 at 1:40 pm to TigerintheNO
The people paying the penalties are also covering those fees.
Posted on 6/4/26 at 2:21 pm to TigerintheNO
I can’t think of one instance where I’d ever use a debit card.
Posted on 6/5/26 at 5:11 pm to breadtiger
Chase Sapphire reserve. I spent 106k on the card. Got 4200 on united tickets through portal with bonus. 500 on southwest tickets and 250 in Chase shopping- bought ray bans- bonus for spending 75k. 300 in annual travel credits and 300 in annual dinning credits. Total 5550 on 106k spending plus 695 fee going to 895 next year.
I also get a bunch of small benefits(total cash around 100) and priority pass.
I also get a bunch of small benefits(total cash around 100) and priority pass.
Posted on 6/5/26 at 5:55 pm to DownSouthTiger
quote:
With my side lawn care business that I do not pay any taxes
The IRS would like a wors with you.
Posted on 6/5/26 at 5:56 pm to TigerintheNO
Reward points are their own scam. Get 50,000 points free. It takes 500,000 points for a free room as long as it’s on a Tuesday in November.
Posted on 6/5/26 at 9:13 pm to Auburn80
Get a better card.
Posted on 6/5/26 at 9:22 pm to Jackie Chan
quote:
Sounds like people still paying with cash/debit haven't caught on and thats their problem
Except... more merchants are passing the fees on to the customer, in effect killing the cash back reward. I pay cash, especially in restaurants, to avoid the fees that began as merchant's fees, not for customer convenience, but to minimize bounced checks.
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