Avoid using credit cards

[Trader]

I understand full well that you can take advantage of the *float*, earn rewards, and build up a credit history.

However, I find that I actually ending up buying *additional* items when I constantly use my credit card versus when I use only my debit card.

Often times credit cards offer you x% cash back but net net credit companies win because you subconsciously end up swiping even more than you normally would to earn the rewards. Thus those additional transaction fees the CC companies earn are larger than the cash back they have to give you.

 

[Kailex]

Avoid accumulating balances on credit cards.
You SHOULDN'T avoid credit cards.

Just... if you can't afford it, don't think you can buy it with a credit card and then pay a lot of interest on it.

I'm a huge fan of buying something on the credit card and paying off the balance in full. Keeps my credit rolling.

 

[Mr.Positive]

I'm a huge fan of buying something on the credit card and paying off the balance in full. Keeps my credit rolling.

This is what I do to. I have one credit card, get flyer miles, and pay it off every month. No interest charges, keeps my credit score high....and the credit cards hate guys like us.

Use it to your advantage! If you stay out of debt, you are free.

Not to mention, it's much easier getting faulty charges taken care of on the credit card, (money not yours) then to get money put back INTO your bank account with a debit card.

Flip sides of the same coin? maybe not so.

 

[ARrocket]

What you're basically saying is "only use credit cards if you have self control and are financially responsible."

I have 2. I get rewards. I don't carry a balance. Life is good

 

[servo1234567]

This is what I do to. I have one credit card, get flyer miles, and pay it off every month. No interest charges, keeps my credit score high....and the credit cards hate guys like us.

Use it to your advantage! If you stay out of debt, you are free.

Not to mention, it's much easier getting faulty charges taken care of on the credit card, (money not yours) then to get money put back INTO your bank account with a debit card.

Flip sides of the same coin? maybe not so.

run your debit as a credit card and it's just as easy.

 

[mpimpin]

I love the benefits I get on my cards. I pay them off every two weeks. Cash back on things such as gas and hotels. Building up credit. Plus the coverage I have on rentals, and fraud protection.

 

[lorekeeper]

I just got under 10k on my creditcard. it's hard getting out of debt. if I ever get back to 0$ balance, I'm going to try paying it off each month. 300$ interest each month is a killer.

 

[logic1]

I just got under 10k on my creditcard. it's hard getting out of debt. if I ever get back to 0$ balance, I'm going to try paying it off each month. 300$ interest each month is a killer.

Number 1 reason to adhere to the title of the thread.

Most people fall for the temptation the CC presents. About like being in a room with a naked HB10 24/7. Eventually you will try to poke her even if she is your first cousin.

 

[SoldMySoul]

Number 1 reason to adhere to the title of the thread.

Most people fall for the temptation the CC presents. About like being in a room with a naked HB10 24/7. Eventually you will try to poke her even if she is your first cousin.

That is funny as hell and true!!!!

I, several times over have had balances that were on the high side and paid them off some way or the other and vowed to never get the balances up again. I always manage to get right back using the damn cards. That HB hot first cousin is always tempting me to poke her.

You get response of the day, hell maybe the week!!!

 

[Quiksilver]

I just never understood the idea of spending money you don't have, on the assumption that you will have it in the future. Isn't that just assigning your future to slavery to pay back that money you never had?

--

I believe if individuals, corporations, and governments stopped spending money they didn't have, that the world would be a better place.

 

[DanelMadr]

I have a credit card only because airlines and car renting companies will not sell you their product otherwise.

I use my debit card like 99% of the time. Why can't you?

I have phobia of debts anyway. When I wanted to buy a car, I had waited till I had enough money plus emergency money.

 

[lorekeeper]

Number 1 reason to adhere to the title of the thread.

Most people fall for the temptation the CC presents. About like being in a room with a naked HB10 24/7. Eventually you will try to poke her even if she is your first cousin.

yep. I admit, it was a mistake, and im paying the price now.

I lost my job and lived off my CC for a long time.

 

[OzyBoy]

Credit cards are not that bad if you are responsible. I have nothing owing on it now. I mainly just use it to pay the monthly bills each month and the odd large purchase and then pay it off completely. For everything else there is cash or debit card. :moon: I also have very good credit as a result.

 

[lorekeeper]

pretty pissed off on my spending habits. I have a bunch of things set on monthly on my CC, like my internet, and phone, and insuarance, etc, but this intrest is a killer.

I recently plopped down 5k on my CC thinking I broguht it down to 9k, I just checked, and I'm still at 14k balance.

I really thought I was getting somewhere.

right now my options are getting another job, and budgeting. but even then it's looking like another year-year and a half to get outta this stupid mistake.

 

[The Inside Man]

I work in the debt settlement industry, and trust me, the major credit card companies would happily rip out your heart if they could get away with it and it helped pay down an outstanding debt. The collectors they employ (3rd party) are horrible, evil human beings.

 

[f283000]

I work in the debt settlement industry, and trust me, the major credit card companies would happily rip out your heart if they could get away with it and it helped pay down an outstanding debt. The collectors they employ (3rd party) are horrible, evil human beings.

Somebody is fighting back

Rick The Mullet Man/Epic Crazy Lady and Springfield Pervert unleash hell on collection agencies

 

[backbreaker]

have a 30k CC with USAA (i've had this account since i was 21)
20k line of credit with my local bank (Wells fargo)
2k Firestone CC
1k Best Buy card
800 dollar amazon card
A 500 dollar exxon gas card
and an Amex blue card

1.7% utilization as of yesterday and ironically enough most of that is on my firestone card as i had some work done on my car a week ago. it was at .05. I like to keep it under 1%. some balance but for the most part pay it off. they are begging me to use my cards which is why they keep giving me credit lol

USAA card has a balance of like 35 dollars.

 

[Julius_Seizeher]

I don't use cc's because Warren Buffett doesn't use cc's. He's worth $50B, and he still lives in the same house he gave thirty grand for in 1958.

On credit cards, he sais "If I can't make money borrowing at 18%, how are you gonna do?"

His legacy of investing brilliance and frugality is a model for us all.

 

[amoka]

I learned the hard way and now started building on my credit with a new CC. Using it on pay-as-you-go basis. It works great. Checked my credit score few days ago and realized it is in much better shape than it was a year ago.

 

[backbreaker]

I don't use cc's because Warren Buffett doesn't use cc's. He's worth $50B, and he still lives in the same house he gave thirty grand for in 1958.

On credit cards, he sais "If I can't make money borrowing at 18%, how are you gonna do?"

His legacy of investing brilliance and frugality is a model for us all.

I can never be that frugal in life becuase i would not be happy, becuase i would be being frugal for the sake of being frugal to prove a point if that makes any type of sense. frugality for frugality sake, is just as stupid as splurging for splurging sake

if you wnat something nice ****ing get it. but earn it. i refuse to deny myself ****, just to tell the world i'm fugual. but at the same time, i don't splurge either.


what is the point of working hard, and denying yourself pleasures that you secretly would like to have just so some people can give you a pat on the back for not splurging?

i like nice **** lol. i dress nice, i like tom ford suits, so i have a few. i like looking at my girl when we go out in **** me heels, so she has some. not more than she can wear, but she has some. I make sure my baby turns heads when we decide to go somewhere, and i know i'm taking the best looking woman in the room home and ****ing her brains out I always wanted a Mercedes, that was my dream car, so I bought one. why the hell should I deny myself my dream car when i have the means to have it.. comfortably? I feel in love with the new jag XJ when i first saw it. i went to test drive one 2 weeks ago and you know what, i'm probably going to get it when my lease is up on my Mercedes which is in 3 weeks. I like watching movies so we have a bad ass entertainment setup.

my dream house is on pacific coast highway in Malibu and one day i will be able to afford it, and you know what, i'm going to get it.

some people, buffett i suppose, don't particularly care for material things, and that's cool. for the most part, I don't. I don't have more clothes than i can't wear, i don't have more cars than i can't drive, and i don't have more house than i need. but if i want something, and i've earned somethign i'm not going to deny it to myself. that's just silly.

22% of all my money goes to savings/retirement if i ever do feel like retiring i will be able to do so at the point i am now when i'm about 42-44 years old. but i doubt i do i am having too much fun. i make sure my son's education is taken care of when the time comes, keep my life insurance policy up to date so that my family is taken care of if anything happens to me, i do invest in some stocks but long term 5% of my money goes to that, every month... after that man, after you have taken care of the obligations, you are just self inflicting unnecessary hardship on your self for not enjoying life. if there is something you want, and you can afford it.. i don't buy **** i can't pay for in cash if i had to, buy it.



one thing i do agree with Buffett on wholeheardly on however, is inheartiance. every dime i have, i earned with my two hands. my son will get maybe a few hundred thousand dollars from an insurance policy/trust fund,l but the worst thing you can do to a child, easpically a young man, is give him too much you are taking away the process of letting him become a man when you do that. a man should learn to earn his way in the world. if he does not become rich, it was not meant for him to be rich, it's that simple.