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Started By
Message
1
Posted on 12/21/18 at 3:18 pm to go ta hell ole miss
quote:Using a CC for everything does not equate to spending more than if you used cash/debit.
Enlighten us oh wise and noble one! People spending above their means is a good thing? 2008 says, “hi”.
Posted on 12/21/18 at 3:19 pm to KG6
quote:
I just paid 1,500 dollars of my credit card bill purely off of points I accumulated. Christmas didn't cost me a dime this year. Never paid a dime I interest.
Last month my wife and I stayed two nights for free at a Ritz Carlton club level room. Those rooms were going for $600 a night.
Last summer I took the kids to Sandestin Hilton for four nights using Hilton points. That would have been a $1600 room bill if paying with "cash".
I'm not even very good at this like some folks and it works out very well.
Posted on 12/21/18 at 3:19 pm to Lacour
I'd go with uneducated on credit cards or not able to budget/save money.
I have three I use for everything. They are automatically paid off so there is no interest. Builds my credit and I get cash back on purchases.
Already have my daughter added so she is building credit.
I wish it was something taught in schools along with other money management things.
It was something I wished I learned when I was younger.
I have three I use for everything. They are automatically paid off so there is no interest. Builds my credit and I get cash back on purchases.
Already have my daughter added so she is building credit.
I wish it was something taught in schools along with other money management things.
It was something I wished I learned when I was younger.
This post was edited on 12/21/18 at 3:22 pm
Posted on 12/21/18 at 3:23 pm to shel311
quote:
But walking around with a wallet full of cash is safer?
Before getting a credit card you need to learn how to budget and save money first for sure. Or you will get yourself in a world of hurt.
Posted on 12/21/18 at 3:24 pm to Lacour
quote:This.
Or just OT ballers and no need for quality credit?
Posted on 12/21/18 at 3:25 pm to NATidefan
quote:Obviously, but that poster I was replying to was not talking about that.
Before getting a credit card you need to learn how to budget and save money first for sure. Or you will get yourself in a world of hurt.
She was specifically talking about the safety of losing a CC/someone getting ahold of your CC# vs her feeling like cash is safer.
Posted on 12/21/18 at 3:27 pm to slackster
quote:
Nah, you should be getting nearly 2% on your cash now, so you're savings about $1.67 per month for every $1000 you purchase on a credit card. Let's say you purchase $3k per month, over 30 years that's and extra $5k in savings if invested at 6% annualized return over that time frame.
It's nice to see someone who actually understands the time value of money. Mingo if you're following along with the math here, $1.67 per month for every $1,000 in purchases is about a 0.16% return on every purchase...not quite the best reason to use a credit card as say, 5% back at the grocery store.
Posted on 12/21/18 at 3:27 pm to shel311
quote:
Obviously, but that poster I was replying to was not talking about that.
Got cha, just saw your post and thought I'd add that.
Posted on 12/21/18 at 3:28 pm to NATidefan
quote:That's a great idea. My credit is phenomenal for my age because dad put me on a CC account that's older than I am
Already have my daughter added so she is building credit.
Posted on 12/21/18 at 3:28 pm to Parmen
quote:
Parmen
If he is runner up then you should be 1st place. All you do is troll the board.
Posted on 12/21/18 at 3:29 pm to Harry Caray
quote:
Mingo if you're following along with the math here, $1.67 per month for every $1,000 in purchases is about a 0.16% return on every purchase...not quite the best reason to use a credit card as say, 5% back at the grocery store.
I gave you the same exact number and the same exact reason. I never said time value of money was the best reason for using credit, only that a bunch of people that don't understand it would soon be in the thread.
Youust have neglected comprehension skills in order to become better at math.
Posted on 12/21/18 at 3:30 pm to Mingo Was His NameO
quote:0.014% is a bit smaller than 0.16%
I gave you the same exact number and the same exact reason.
Posted on 12/21/18 at 3:32 pm to Harry Caray
I used .16 in my calculation or an annualized rate of 2%
Posted on 12/21/18 at 3:33 pm to Lacour
I would rather use cash than anything else...........
Posted on 12/21/18 at 3:34 pm to Mingo Was His NameO
Haven’t paid for a flight in years. Pay the credit card off every 2 weeks.
Posted on 12/21/18 at 3:35 pm to LSUfonte
Can you pay mine off too?
Posted on 12/21/18 at 3:44 pm to Lacour
quote:
Or just OT ballers and no need for quality credit?
Not exactly a baller to not need the use of a credit card. You just don't spend money you don't already have saved up.
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