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re: If you can't pay off your credit card monthly, you shouldn't have one.
Posted on 1/13/26 at 6:55 pm to theballguy
Posted on 1/13/26 at 6:55 pm to theballguy
quote:
If you can't pay off your credit card monthly, you shouldn't have one
I refuse to even have a credit card. Paid off a Gordon's Jewelers card in 2005 and haven't had one since.
Meanwhile, I know people who are barely existing on maxed-out credit debt and making minimum payments just to maintain the illusion that they're living with high standards.
If you're living in a $300,000 home, driving a 2024 Silverado with the wife's Range Rover in the driveway and asking to borrow $20 for Ramen noodles for the kids the day after payday, you might just be part of the problem.
1
Posted on 1/13/26 at 7:05 pm to udtiger
quote:
You can get points even if you pay the total balance.
This. Just pay the balance every month. You're a retard if you don't.
Posted on 1/13/26 at 7:15 pm to theballguy
quote:
I get it that some people just want have a new car every so often but I would never do that. I always pay cash for any car I buy.
If you bought a new car, drove it around the block for 1.5 miles, then drove it back onto the lot and tried to sell it back they'd tell you it's worth 20% less than you just paid for it...
If it sat in your driveway mostly for the next few years, it still just depreciates...
a barely used car is the best gambit
Posted on 1/13/26 at 7:41 pm to Lee B
Curious as to which credit card companies offer the greatest rewards? Are there specific purchases that will accumulate those rewards on a greater rate than other purchases?
Posted on 1/13/26 at 7:45 pm to theballguy
Points, cash back and convenience
Posted on 1/13/26 at 7:48 pm to PeleofAnalytics
quote:
are you paying unsecured debt off before you are dead or if your estate can cover it?
Unsecured debt is unsecured. If you go tits up, that's their problem... if your estate can't pay off what you owe, that's their problem... no one else is responsible for that contract. I'm not sure the companies can even really go after the estate that hard (though they will sell the debt sometimes for barely anything to the bottom of the barrel companies, who will call alist of relatives trying to scare someone who doesn't know any better into paying them something by claiming they can transfer responsibility). But don't mourn for the credit card companies, they have taken out insurance on you not paying off that debt, and if it's been riding for a while you've probably paid off the amount you charged, initially, and what's left is compounding interest, which is imaginary in a sense.
Posted on 1/13/26 at 7:55 pm to theballguy
quote:
Simple enough.
I have very high standards though.
"The borrower is slave to the lender" (Proverbs 22:7)
Look at this Ritchie Rich mofo talking down to the peasants.
Posted on 1/13/26 at 7:57 pm to theballguy
quote:
Just pay the balance every month
That’s what we do. Get the points then use them to pay part of the bill.
Also, put your savings in a high yield savings account we’ve made enough off that to pay a lot of our bills.
Posted on 1/13/26 at 7:59 pm to rrboy
quote:
If you pay interest on credit cards, you’re losing the financial game.
This is the correct answer.
Nothing wrong with not paying off your CC monthly if you aren’t accruing interest at the level that would offset what you could be making with that money elsewhere.
Posted on 1/13/26 at 7:59 pm to TigerAxeOK
quote:
If you're living in a $300,000 home
for the point you're trying to make you might want to bump this up to $750,000 or above... to keep up with inflation and the times.
The average home price in the United States as of mid-2025 is approximately $512,800.
Posted on 1/13/26 at 8:04 pm to rrboy
quote:
If you pay interest on credit cards, you’re losing the financial game.
Even a large majority of people who don’t pay interest on credit cards are technically losing the financial game. There’s plenty of data to suggest that individuals spend more than whatever they are earning in rewards when using a credit card compared to cash.
To be ignorant of that fact means you are not as financially literate as you think.
Posted on 1/13/26 at 8:06 pm to YipSkiddlyDooo
quote:
There’s plenty of data to suggest that individuals spend more than whatever they are earning in rewards when using a credit card compared to cash.
Yeah those people are not very smart. If you are deliberate with your finances, these cards should pay for themselves.
Posted on 1/13/26 at 8:10 pm to theballguy
I think you should have them for unexpected emergencies
My debit card number was stolen on vacation and I had to cancel it. CC came in handy or I wouldn’t have made it home
My debit card number was stolen on vacation and I had to cancel it. CC came in handy or I wouldn’t have made it home
Posted on 1/13/26 at 8:57 pm to onmymedicalgrind
quote:
Yeah those people are not very smart. If you are deliberate with your finances, these cards should pay for themselves.
It’s a huge majority of people who use credit cards and pay them off every month. But I’m sure you are the exception…
We almost exclusively use credit cards and pay them off monthly. But I’m not stupid enough to think my wife and I aren’t probably spending 3%+ more than if we had to physically hand over cash. Luckily we are well-off enough that it doesn’t matter at all.
Posted on 1/13/26 at 9:07 pm to theballguy
I agree
Posted on 1/13/26 at 9:23 pm to theballguy
Why does it say don’t charge usury, if you shouldn’t borrow? Contradictory.
This post was edited on 1/13/26 at 9:29 pm
Posted on 1/13/26 at 9:25 pm to baldona
quote:
If you can pay it off monthly, why even have one?
I have 11 credit cards, all of which get paid off every month. Between the 11, I am getting
3% back on restaurants, transit, drugstores, streaming, and online grocery orders
4% back at gas stations
5% back on travel, Amazon, and Whole Foods
5% back on rotating categories
6% back at grocery stores
I made almost $5k last year in cashback/rewards. That's free money you're just throwing away if you use cash/debit card
This post was edited on 1/13/26 at 9:27 pm
Posted on 1/13/26 at 9:44 pm to YipSkiddlyDooo
quote:
It’s a huge majority of people who use credit cards and pay them off every month. But I’m sure you are the exception…
We almost exclusively use credit cards and pay them off monthly. But I’m not stupid enough to think my wife and I aren’t probably spending 3%+ more than if we had to physically hand over cash. Luckily we are well-off enough that it doesn’t matter at all.
Huh? You completely misunderstood my post.
Posted on 1/13/26 at 10:00 pm to Keyszer10
I use Chase Ink 2.5% on purchases over 5k, Capital One spark 2%, Bank of America Card 2.65% if you have a certain amount in your Merrill Account, AA Citi card for airline status and flyer miles, and Amex Platinum that is 1.5% and get lounge access. If you own a business and run a lot of spend you can leverage points and make tax free money. Even paid my house off with cc points. I read a book about 15 years ago that taught me how to stack and leverage points/miles. I’ll try to find the name of it and post it.
Edit: Brad Wilson
“Do More, Spend Less: The New Secrets of Living the Good Life for Less”
Some stuff in the book is probably outdated now, but it got my creative wheels spinning.
Edit: Brad Wilson
“Do More, Spend Less: The New Secrets of Living the Good Life for Less”
Some stuff in the book is probably outdated now, but it got my creative wheels spinning.
This post was edited on 1/13/26 at 10:09 pm
Posted on 1/13/26 at 10:57 pm to theballguy
Agreed. Way too much consumer debt in this nation.
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