Poll of the Day > Credit Card Appreciation Topic!

(+) Yeah! (+)

Credit cards are the best! I love them. They force a company to pay them for the privilege of taking my money and then when I pay my balance off in full every month, the credit card company pays me for the privilege of me using them to buy stuff with. I have 7, 1 of which I'm trying to cancel even though I know they say not to do that. I did call and cancel but I have no idea when that actually kicks in because that card sucks ass. Of the 6 I actually care about, I have:

Citi Double Cash Card (1% cashback when you buy, 1% when you pay, so effectively 2% on everything as long as you don't suck and pay your bill in full every month)
Costco Anywhere Visa (4% on gas, 3% on restaurants, 2% on Costco, 1% on everything else)
Amazon Prime Rewards Visa (5% on Amazon.com and Whole Foods (lol who cares). You can also get one without a Prime Membership and it's 3% back)
American Express Blue Cash Everyday (3% on groceries, 2% on idk who cares I have a card that is effectively 2% on everything so why would I bother using that for this, 1% on everything else)
Discover It Card (5% on rotating quarterly categories. This one would be good but I always forget which category is currently in effect and then I do something like buy gas with my Costco card instead of this one when it's 5% on gas)
and the newest one:
Uber Visa Card (4% on restaurants, 3% on hotels and airface, 2% on online purchases, 1% on everything else)

I don't even have an Uber account lol

So what are your feelings on credit cards? Do you not trust yourself to only use them for purchases you can afford to pay off every month so you think they are bad? Do you use a card that doesn't give you rewards because you like flushing money down the toilet?

Credit score of 782 and i have 26,000 miles probably flying to vegas and back for free soon.

argonautweakend posted...

Credit score of 782 and i have 26,000 miles probably flying to vegas and back for free soon.

Atta boy. Sounds like you're doing it right

They are pretty useful and they carry fewer risk than debit cards.
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Got a discover card, Costco card, Target card, amazon card, Ollo card, and capital one card.

I think the Costco card actually isnt technically a credit card, but it totally is.

If I wanted to, I could max out every single one in a day and buy enough shit to live off of for the rest of my life on some Hawaiian island selling pina colodas to tourists.. one day..

MICHALCOLE posted...

Got a discover card, Costco card, Target card, amazon card, Ollo card, and capital one card.

I think the Costco card actually isnt technically a credit card, but it totally is.

If I wanted to, I could max out every single one in a day and buy enough shit to live off of for the rest of my life on some Hawaiian island selling pina colodas to tourists.. one day..

I like pins colodas. And getting caught in the rain.

I just have one, but my bank has been sending me stuff telling me they wanna give me another one with a higher limit. I might just because. I really don't use them much but it's come in handy a couple of times.
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Nightengale posted...

I just have one, but my bank has been sending me stuff telling me they wanna give me another one with a higher limit. I might just because.

Do it!

SkynyrdRocker posted...

MICHALCOLE posted...

Got a discover card, Costco card, Target card, amazon card, Ollo card, and capital one card.

I think the Costco card actually isnt technically a credit card, but it totally is.

If I wanted to, I could max out every single one in a day and buy enough shit to live off of for the rest of my life on some Hawaiian island selling pina colodas to tourists.. one day..

I like pins colodas. And getting catch in the rain.

I like getting snatch in the rain

MICHALCOLE posted...

SkynyrdRocker posted...

MICHALCOLE posted...

Got a discover card, Costco card, Target card, amazon card, Ollo card, and capital one card.

I think the Costco card actually isnt technically a credit card, but it totally is.

If I wanted to, I could max out every single one in a day and buy enough shit to live off of for the rest of my life on some Hawaiian island selling pina colodas to tourists.. one day..

I like pins colodas. And getting catch in the rain.

I like getting snatch in the rain

argonautweakend posted...

Credit score of 782 and i have 26,000 miles probably flying to vegas and back for free soon.

Probably due to my car payments but my score is at 817 and somehow climbing. Can't complain though, at least it gives me a buffer to open up new credit cards for their rewards. I've been told typically anything above 700 is good and the hit to your credit score when opening new cards for their rewards is superficial. That being said, I should start looking into cards with flyer miles. Might go to Japan/Taiwan next year.

SkynyrdRocker posted...

So what are your feelings on credit cards? Do you not trust yourself to only use them for purchases you can afford to pay off every month so you think they are bad?

I feel the rewards are worth it so long as you're responsible. I can understand though that some folks don't trust the bank/themselves with borrowed money and in some cases I've heard of even the responsible folks getting burned. I do have a few friends that are responsible with money but still prefer to only use cash/debit cards.
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I used to use one, then realized "oh, I shouldn't spend money I don't have." So I started stashing away a lot into savings and I've purchased an $8000 car in cash because of those good habits.

Credit cards are great.

They effectively make everything we buy more expensive whether we use them or not, b/c most people do, and they charge retailers more than the 1% or 2% cash back they give you.
But unless everyone stops using them (yeah, right), no point trying to fight it... 1% back is still better than 0%, and it's safer than carrying a lot of cash around.

I have a bunch of those cards, main one I'm lacking is the Citi Double Cash. But I get 1.5% w/ my Capital One (and more for specific purchases w/ other cards, situationally), so it's not a huge difference...
Usually wait till I get a nice offer for a new card like a free $100 or whatever if I spend X amount in the first 3 months, if it's a card I'd want. If you wait long enough, the offers will come...

GanglyKhan posted...

I used to use one, then realized "oh, I shouldn't spend money I don't have." So I started stashing away a lot into savings and I've purchased an $8000 car in cash because of those good habits.

You could still use one and just spend money you do have though. Then you'd get cash back and make money.

GanglyKhan posted...

I used to use one, then realized "oh, I shouldn't spend money I don't have." So I started stashing away a lot into savings and I've purchased an $8000 car in cash because of those good habits.

....then just spend what you do have, which is what most people here do. It's not that hard. If you just use a card whenever you were going to use cash, you're automatically going to better for it outside of maybe gas stations when they charge a different price and aren't a featured category (although, at $3/gallon, you're only losing 2-cents per gallon if you have a 1% bonus with your card which might be more worthwhile than walking in to pay a guy.... although that's not an issue if you live someplace like Jersey where they pump the gas for you)
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Got my credit up high enough to actually get approved for one after my credit's been in the shitter for years. Like it was so bad that I somehow got turned down on a secured credit card.

Granted, no rewards on it, but just being able to build credit up and have a $1000 credit line is awesome.
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