Are Credit Cards Worth it?

[BLoCKANDLOADED ⭕⃤]

Are Credit Cards Worth it?

[RRW359]

Escrito originalmente por Мистер Хаус:

Escrito originalmente por Eld3r:

of course the data is sold

none of my purchases on a credit card matter

groceries
gas
furniture
food
etc

when i pay my dealer i use cash but i dont do drugs so ... (maybe after i retire)

Omg ! This guy buys coffee and newspapers! We must sell this information to the highest bidder! :Ujel:

If it's something rival coffee/news companies will pay for then why not?

[RRW359]

Escrito originalmente por Eld3r:

Escrito originalmente por RRW359:

If it's something rival coffee/news companies will pay for then why not?

maybe you guys dont realize that credit card companies do not see what was purchased in most cases

they just know money was spent at a certain pos

Which is annoying when you hate Coffee, go to Starbucks to get food because it's the only place open at whatever ungodly hour it is before work, and then get ads for Coffee.

[kbiz]

Escrito originalmente por Sir Dookface McFerretballs:

Meanwhile, cash in the wallet and cash out of the wallet... Easy peasy, thing bought and paid for. No bills, apps, accounts, spyware, tracking, interest rates, annual fees, or spam mail.

To be realistic, objectively, credit cards are NOT easier than cash or cash cards mainly just from what I and others have already mentioned... You might think they are the "bees knees", but again being objective here... I have gone to places that don't accept visa or mastercard or any of the more obscure cards, but they ALL take cash. Hell, I don't take credit cards for my services. Even debit cards are easier than credit cards and are often taken in more places than credit cards.

Let's assume I put $10,000 on my credit card every month. What do I get?

$200 = 2% cash back
$38 = US Treasury Bill interest at 4.6% on $10,000 interest free loan for 30 days (since I used credit and saved my cash)

So, I would get about $2860 per year ($2400 + $460).

$2860 per year is better than $0 per year. Using a credit card is better than cash or a debit card.

Why not save your cash for a month and buy risk-free T-Bills with it instead? Or even money market rates? Seems better than using cash for transactions.

Visa is accepted pretty much everywhere around the world. If I can't use my credit card, then I'll use cash or a debit card.

Dookface, it's smart to use a credit card - if you pay the balance every month.

[kbiz]

Escrito originalmente por Eld3r:

Escrito originalmente por kbiz:

Visa is accepted pretty much everywhere around the world.

i also carry american express, mastercard, and discover card just in case

I hear you. I like to keep it simple though. I carry one credit card, one debit card, and cash. I don't need every benefit. Just most of them. Heh.

I don't understand how anyone can argue against the potential benefits of using a credit card. If you automate your credit card payments from your checking account, you don't have to think about your credit card at all. And it becomes a very simply way to make extra cash.

[Sir Dookface McFerretballs]

Escrito originalmente por kbiz:

Escrito originalmente por Sir Dookface McFerretballs:

Meanwhile, cash in the wallet and cash out of the wallet... Easy peasy, thing bought and paid for. No bills, apps, accounts, spyware, tracking, interest rates, annual fees, or spam mail.

To be realistic, objectively, credit cards are NOT easier than cash or cash cards mainly just from what I and others have already mentioned... You might think they are the "bees knees", but again being objective here... I have gone to places that don't accept visa or mastercard or any of the more obscure cards, but they ALL take cash. Hell, I don't take credit cards for my services. Even debit cards are easier than credit cards and are often taken in more places than credit cards.

Let's assume I put $10,000 on my credit card every month. What do I get?

$200 = 2% cash back
$38 = US Treasury Bill interest at 4.6% on $10,000 interest free loan for 30 days (since I used credit and saved my cash)

So, I would get about $2860 per year ($2400 + $460).

$2860 per year is better than $0 per year. Using a credit card is better than cash or a debit card.

Why not save your cash for a month and buy risk-free T-Bills with it instead? Or even money market rates? Seems better than using cash for transactions.

Visa is accepted pretty much everywhere around the world. If I can't use my credit card, then I'll use cash or a debit card.

Dookface, it's smart to use a credit card - if you pay the balance every month.

LOL if you got $10,000 a month to throw at a credit card investment, you aren't the target user of credit cards.

Unless you mean you are using the credit card for $10,000 a month, then you are $10,000 in debt every month.

Again I was pointing out what is EASIER to use if you read my original posts. I don't give a crap if people can game the system or have a $120,000 a year income to blow on gaming the system. Cash is still easier to use than a credit card.

[Sir Dookface McFerretballs]

Escrito originalmente por Eld3r:

Escrito originalmente por Sir Dookface McFerretballs:

LOL if you got $10,000 a month to throw at a credit card investment, you aren't the target user of credit cards.

Unless you mean you are using the credit card for $10,000 a month, then you are $10,000 in debt every month.

Again I was pointing out what is EASIER to use if you read my original posts. I don't give a crap if people can game the system or have a $120,000 a year income to blow on gaming the system. Cash is still easier to use than a credit card.

cash is not easier to use than a credit card

i average about half of the example he listed and have never paid interest

it is short term debt but that doesnt matter if one always pays the bill every month

if i could not pay the bill i would not use the credit card because that would be digging a hole of debt

again, use credit cards responsibly and earn some cash rewards

Well, then I'm going to agree to disagree with you.

I know how credit cards work, I have some myself. I'm literally pointing out that cash is EASIER to use, or are you unable to comprehend what I am saying?

I still don't have to fill out an application to use cash. I don't have to be approved to use cash. I don't get junk mail to use cash. I don't have to worry about getting charged interest for cash on hand. I don't have giant companies selling my cash purchase data and following me around everywhere I use it. I don't have to worry about my credit rating to use cash. I don't need apps and accounts to use cash.

Anyway, I'm done repeating myself, so take care.

[kbiz]

Escrito originalmente por Sir Dookface McFerretballs:

Escrito originalmente por kbiz:

Let's assume I put $10,000 on my credit card every month. What do I get?

$200 = 2% cash back
$38 = US Treasury Bill interest at 4.6% on $10,000 interest free loan for 30 days (since I used credit and saved my cash)

So, I would get about $2860 per year ($2400 + $460).

$2860 per year is better than $0 per year. Using a credit card is better than cash or a debit card.

Why not save your cash for a month and buy risk-free T-Bills with it instead? Or even money market rates? Seems better than using cash for transactions.

Visa is accepted pretty much everywhere around the world. If I can't use my credit card, then I'll use cash or a debit card.

Dookface, it's smart to use a credit card - if you pay the balance every month.

LOL if you got $10,000 a month to throw at a credit card investment, you aren't the target user of credit cards.

Unless you mean you are using the credit card for $10,000 a month, then you are $10,000 in debt every month.

Again I was pointing out what is EASIER to use if you read my original posts. I don't give a crap if people can game the system or have a $120,000 a year income to blow on gaming the system. Cash is still easier to use than a credit card.

C'mon, Dookface, The amount doesn't matter - $10,000 per month doesn't matter. Run $2000 per month in expenses through your credit card instead - like your groceries and your monthly bills. Just scale down the benefit.

No one is gaming the system. You can choose to transact with a credit card, debit card, or cash. If you have the ability, want the benefits, and are responsible, then a 2% cash-back credit card is the way to go.

[RRW359]

Escrito originalmente por Eld3r:

Escrito originalmente por Sir Dookface McFerretballs:

LOL if you got $10,000 a month to throw at a credit card investment, you aren't the target user of credit cards.

Unless you mean you are using the credit card for $10,000 a month, then you are $10,000 in debt every month.

Again I was pointing out what is EASIER to use if you read my original posts. I don't give a crap if people can game the system or have a $120,000 a year income to blow on gaming the system. Cash is still easier to use than a credit card.

cash is not easier to use than a credit card

i average about half of the example he listed and have never paid interest

it is short term debt but that doesnt matter if one always pays the bill every month

if i could not pay the bill i would not use the credit card because that would be digging a hole of debt

again, use credit cards responsibly and earn some cash rewards

Are we talking about ease of use or expenses? Because whenever we try to talk about ease of use you bring up how much cheaper it is but only if you make sure to pay everything on time. Also if you think we aren't smart enough to understand this then that's exactally why most people shouldn't get a credit card.

[kbiz]

Escrito originalmente por RRW359:

... but only if you make sure to pay everything on time. Also if you think we aren't smart enough to understand this then that's exactally why most people shouldn't get a credit card.

Yes, pay your credit card balance on time. We are talking about the benefits of using a credit card, not the penalty from borrowing money with a credit card. Borrowing money from your credit card is stupid. Getting a 30 day interest free loan and 2% cash back on your purchases is smart.

[Jackie Daytona]

Escrito originalmente por Sir Dookface McFerretballs:

Escrito originalmente por Eld3r:

not practical online or in the current economy

You must not know about cash cards and real-life "cash is king" discounts.

If I pay for gas with a card, it's over 20 cents a gallon more than paying with cash.

Not where I live. Most places don't do that. The few that do? It's only $0.05 per gallon. Saving $0.50 per month is about as relevant as finding a quarter on the ground.

Escrito originalmente por Sir Dookface McFerretballs:

To be realistic, objectively, credit cards are NOT easier than cash or cash cards mainly just from what I and others have already mentioned... You might think they are the "bees knees", but again being objective here... I have gone to places that don't accept visa or mastercard or any of the more obscure cards, but they ALL take cash. Hell, I don't take credit cards for my services. Even debit cards are easier than credit cards and are often taken in more places than credit cards.

It's a bit easier to pay at the pump with a card than to walk inside and hand someone cash. Not to mention the annoyance of waiting in a line behind people buying 30 lotto tickets.

[RRW359]

Escrito originalmente por Jackie Daytona:

Escrito originalmente por Sir Dookface McFerretballs:

You must not know about cash cards and real-life "cash is king" discounts.

If I pay for gas with a card, it's over 20 cents a gallon more than paying with cash.

Not where I live. Most places don't do that. The few that do? It's only $0.05 per gallon. Saving $0.50 per month is about as relevant as finding a quarter on the ground.

Escrito originalmente por Sir Dookface McFerretballs:

To be realistic, objectively, credit cards are NOT easier than cash or cash cards mainly just from what I and others have already mentioned... You might think they are the "bees knees", but again being objective here... I have gone to places that don't accept visa or mastercard or any of the more obscure cards, but they ALL take cash. Hell, I don't take credit cards for my services. Even debit cards are easier than credit cards and are often taken in more places than credit cards.

It's a bit easier to pay at the pump with a card than to walk inside and hand someone cash. Not to mention the annoyance of waiting in a line behind people buying 30 lotto tickets.

I've seen quite a few stations listing different prices for cash and card. Also I live somewhere self-service is illegal and when my family drove I remember attendants either accepting cash or making you go in however you are paying. Couldn't self-serve places just have some automatic thing where they only give gas if money is inserted and stop if it's reached what is worth the amount put in?

[mikel3113]

Escrito originalmente por Nugget:

Escrito originalmente por Jackie Daytona:

Not where I live. Most places don't do that. The few that do? It's only $0.05 per gallon. Saving $0.50 per month is about as relevant as finding a quarter on the ground.

It's a bit easier to pay at the pump with a card than to walk inside and hand someone cash. Not to mention the annoyance of waiting in a line behind people buying 30 lotto tickets.

don't you have just regular bank or debit cards then, cause didn't think it was a choice between cash or credit cards

I just take one of the gold chains off my neck when I need to pay for something /jk

Less fraud protection and security in general with a debit/bank card at least here in the US. It's your money being stolen if something goes wrong and not a credit card companies . Totally different when it comes to getting your money back. I also don't see cash discounts or debit card discounts if you will around me. I travel from Atlanta to New York all the time and I can stay on the entire eastern route I take I've never seen different gas prices for if you use credit or not anytime in the last 5 years.

Plus you get rewards points 1.5% cash back on mine for gas with using a credit card and that adds up. I understand that's coming from the merchant but I'm not the merchant and I'm the customer. More money in my pocket. As long as I'm paying off the credit card before the end of each month, I don't get charged any interest ever. Waiving the annual fee on many credit cards like my American Express cash Blue preferred card is as simple as making a call to them and they drop it.

[Jackie Daytona]

Escrito originalmente por Nugget:

Escrito originalmente por Jackie Daytona:

Not where I live. Most places don't do that. The few that do? It's only $0.05 per gallon. Saving $0.50 per month is about as relevant as finding a quarter on the ground.

It's a bit easier to pay at the pump with a card than to walk inside and hand someone cash. Not to mention the annoyance of waiting in a line behind people buying 30 lotto tickets.

don't you have just regular bank or debit cards then, cause didn't think it was a choice between cash or credit cards

I just take one of the gold chains off my neck when I need to pay for something /jk

Well, sure. Because a debit card is needed for online purchases. Unless I want to endlessly buy gift cards.

Escrito originalmente por RRW359:

Escrito originalmente por Jackie Daytona:

Not where I live. Most places don't do that. The few that do? It's only $0.05 per gallon. Saving $0.50 per month is about as relevant as finding a quarter on the ground.

It's a bit easier to pay at the pump with a card than to walk inside and hand someone cash. Not to mention the annoyance of waiting in a line behind people buying 30 lotto tickets.

I've seen quite a few stations listing different prices for cash and card. Also I live somewhere self-service is illegal and when my family drove I remember attendants either accepting cash or making you go in however you are paying. Couldn't self-serve places just have some automatic thing where they only give gas if money is inserted and stop if it's reached what is worth the amount put in?

I have no doubt things might be different where you live. I would definitely go out of my way to pay with cash if it meant saving $0.20 per gallon.

Self-serve places are actually illegal, in my area. Every single pump has a sign that says something like, "Illegal if attendant not on duty." This is not to say you can't pump your own gas. I'm just saying there's no automated 24-hour places. Except one. Set up for local farmers. Which the police and DA ignores. The area I live in is more corrupt than you could possibly imagine.

[mikel3113]

Escrito originalmente por Eld3r:

Escrito originalmente por mikel3113:

Less fraud protection and security in general with a debit/bank card at least here in the US. It's your money being stolen if something goes wrong and not a credit card companies . Totally different when it comes to getting your money back. I also don't see cash discounts or debit card discounts if you will around me. I travel from Atlanta to New York all the time and I can stay on the entire eastern route I take I've never seen different gas prices for if you use credit or not anytime in the last 5 years.

Plus you get rewards points 1.5% cash back on mine for gas with using a credit card and that adds up. I understand that's coming from the merchant but I'm not the merchant and I'm the customer. More money in my pocket. As long as I'm paying off the credit card before the end of each month, I don't get charged any interest ever. Waiving the annual fee on many credit cards like my American Express cash Blue preferred card is as simple as making a call to them and they drop it.

https://www.cardfellow.com/blog/cash-discount-eliminate-processing-fees/ is a good read

maybe more businesses would offer cash discounts if they understood the rules as i think some are afraid to offer those discounts because of the confusion mentioned in that article

If I were a business I would definitely check into these services. I know my friend who owns a wakeboard park uses Square as a payment processor to reduce transaction fees and be able to still accept credit cards with ease because that's what most people pay him with. Not sure how it stacks up to the companies referenced in this article off the top of my head, but I agree businesses should be looking at this.

As a consumer though, I just don't find this to be the norm near me and find that instead of getting a cash discount I'm more or less getting a discount from using my credit card when you factor in rewards. So for now I'll continue to predominantly use a credit card for purchases. If the landscape does change, I'll adjust accordingly to maximize savings.

[Kargor]

Depends.

I rarely use it (I'm in Germany, not the US. I use the Maestro Debit card a lot, because that's kind of the traditional card here), but every once in a while a credit card can be useful, like hotels wanting it to secure a reservation.

There's also a chance that a failure in the Maestro-based system might not affect the credit card, but I suppose that very much depends on what the actual failure is.

And there are still online-shops that don't take PayPal... I'm not a big fan of using the credit card for that, but every once in a while I do.