Current Events > People who don't use credit cards are suckers.

(+) Yeah! (+)

With the interchange fees Im probably going to use my credit card as little as possible.

Solar_Crimson posted...

I'm 34 and I just got my first credit card in the last month. I've always used debit cards, but since so much shit is tied to having good credit, I felt it was time to finally get a credit card. Better late than never, I guess?

Yes. It's better to start later and build up than to never build it up at all. -

Lucky you, living in a country with generous credit card benefits. In Australia there is a $100 a year credit card fee and fuck all benefits and whatever there is is worth less than $100

The sheer number of people that not only don't have a credit card but refuse to use one is perplexing.

I currently am bouncing around $125k of CC debt using 0% bal xfers across about 12-13 different cards. So yeah, I have no issues with credit cards.

pretty much yeah

My bank offered a card for college students to build credit. Only 1% on everything but I can redeem that for Amazon cards. I also have the Amazon store card but I didn't know beforehand that the 5% only applied to Prime members so there's not much point in using it over my other card.

And to those saying they don't need one: Everyone knows about cashback and credit score benefits and whatnot. But there's one other, underrated benefit: consumer protection. For most if not all cards, if you spot a suspicious transaction on your card you can dispute the transaction immediately and the card company will deal with it. Resolving fraudulent transactions via a typical debit card ranges from difficult to impossible in comparison. I used to use my debit card for most things but then I got double charged for my phone. Never again.

Many card providers also allow you to set up alerts that trigger when the card was used, as well as deactivate the card altogether at any time via phone, online and/or an app.

That so many users on CE don't have or don't use a credit card is one of the least surprising things I've read on this board.

"By spending only $550 a year, I get a free companion ticket that I go out of the way to redeem by spending even more money on a first ticket!"

Cool if you fly annually, I guess. For me, I'd be doing gymnastics to justify it. I'll just stick with the 5% off cards for Amazon and Target and stick with my bank's 2% on the rest.

KeeperOfShadows posted...

This exactly. Maybe having a credit card really would be better, but I'm doing just fine without one, and thus have no desire to get one.

I used to think like this. I now have two cards and realized this mindset is a terrible one. Not only do credit cards provide virtually free rewards and much better consumer protection, it also makes finances feel so much less stressful.
You have actual cash to back you up if you need it that you wouldn't if you didn't have a credit card.

https://gamefaqs.gamespot.com/a/user_image/0/5/3/AAFDc9AADwP1.jpg

I love my credit rainbow.

I use to think they were a trap to put people in debt, but it's a powerful weapon if you responsible - you get a longer range of spending power, and are protected from fraud because it's the banks' money, not yours. Use the credit card as your debit card, and you will be glad you have it.

Try a year with a freedom unlimited card, and it will be a great investment in your time, and sanity.

I wouldn't say they're suckers, just overly paranoid and not confident of their own self control when it comes to frivolous spending.

Glad Neon didnt fall for this crap

@NeonOctopuses

I wonder how are CE users buying homes or renting without credit scores.

Just paid off my monthly credit card bill, and with my cash back reward I got to knock $107.53 from the bill.

Discover paid me a hundred bucks to use their card last month.

K181 posted...

Just paid off my monthly credit card bill, and with my cash back reward I got to knock $107.53 from the bill.

Discover paid me a hundred bucks to use their card last month.

I booked a big family vacation to Disney/Universal in August and put everyone's flights, hotels, and park tickets on my credit card (they all didn't want to deal with keeping track of all the emails so they just Venmo'd me the money so I could just take care of everything for them)

Paid it all back immediately and I ended up with like $400 in cashback which basically covered all of the food, souvenirs, and Uber/Lyft rides my wife and I paid for during the vacation

Credit cards are awesome

I have Freedom Unlimited, Freedom Flex and Sapphire Reserve. First two are free, last one is 599 annually or something with a 300 bonus on flights/trips made per year with many other benefits.

I begun using my Freedom Unlimited and Flex to rack up points. The good thing about these three cards is, the points are transferable, so I'll eventually just move my points from the two free cards and use them for travel in my Sapphire Reserve.

If you have Unlimited, I'd recommend Freedom Flex. It's great for the quarterly categories. Last quarter was great. I got 9% back on giftcard purchases at gas stations. Great stuff. This month, it's Walmart and Paypal. Not as great, but still.

So what's the card for someone who doesn't wanna fly or see movies or really do anything except hide at home and occasionally pick up a package in their pajamas?

pistachio12 posted...

The sheer number of people that not only don't have a credit card but refuse to use one is perplexing.

Whats the point if you cant get cash back and the rewards are worth less than the yearly fees? Not everyone is in America where money grows on trees

https://gamefaqs.gamespot.com/a/user_image/6/8/6/AACE4xAADm4W.jpg

BloodMoon7 posted...

So what's the card for someone who doesn't wanna fly or see movies or really do anything except hide at home and occasionally pick up a package in their pajamas?

Citibank Double Cash or Chase Unlimited Freedom.

Makeveli_lives posted...

A car or house for one thing. Taking out a loan for school or something also.

I've just bought my cars with cash... Also I already know I'll never own a house... And no idea what I'd get a loan for...

I also don't do anything like go places for vacations, go see shows, etc. enough that I'd get any real use out of a rewards system...

I use my credit card only for online purchases. Even then, I prefer TWINT, another payment method that's commonly used here in Switzerland. I just use a debit card because I don't gain anything when using a credit card, and I prefer to see the transactions booked on and off my bank account immediately after.

Kloe_Rinz posted...

Whats the point if you cant get cash back

What are you talking about

Kloe_Rinz posted...

the rewards are worth less than the yearly fees

Why would you get a card like this

TaylorHeinicke posted...

Why would you get a card like this

Because thats the only kind you can where theyre from like the rest of the post says.

Stagmar posted...

Because thats the only kind you can where theyre from like the rest of the post says.

Ah. I figured it went without saying that it would not make sense to get a credit card at all then if that's all that's available.

Im 35 and got my first CC back in May, been paying full ever since and dont t spend more than I can afford to pay off, trying to be smart about it

TaylorHeinicke posted...

You shouldn't close cards after reaping their signup bonuses. That's called churning, and while it can be a viable strategy for some, if done improperly, it can destroy your credit.

Tell me you don't know anything about churning without telling me...

If you're a smart churner, you don't close cards, you call in and have them downgrade the card to a no-fee version and toss it in the sock drawer; perhaps making a very small purchase on it every year or so to keep the account active (which preserves your average age of accounts).

But yeah, credit cards are great if you're smart about it. I'm not a big spender by any means, but I've started to open a few cards every year just for the sign-up bonuses, meeting the spending requirement by pre-paying taxes, or funding new bank accounts (which also have sign-up bonuses), or some similar method where I'm not actually spending any money.

I have 9 open accounts currently and have never paid a cent in interest. Credit score is high 700s. It's a nice way to earn an extra few thousand in risk-free cash every year.

Mearcstapa posted...

Tell me you don't know anything about churning without telling me...

If you're a smart churner, you don't close cards, you call in and have them downgrade the card to a no-fee version and toss it in the sock drawer; perhaps making a very small purchase on it every year or so to keep the account active (which preserves your average age of accounts).

But yeah, credit cards are great if you're smart about it. I'm not a big spender by any means, but I've started to open a few cards every year just for the sign-up bonuses, meeting the spending requirement by pre-paying taxes, or funding new bank accounts (which also have sign-up bonuses), or some similar method where I'm not actually spending any money.

I have 9 open accounts currently and have never paid a cent in interest. Credit score is high 700s. It's a nice way to earn an extra few thousand in risk-free cash every year.

Yeah I guess I came across as "CHURNING IS BAD" because I didn't expect any actual successful churners to be here. But like you say, those who are comfortable with the risk and the management of it can definitely go for it.

Anyone use their amex members week offers yet?

Got a year of hbo max for like $39 after the statement credit and rakuten offer

$110 in xbox gift cards for $50 on dell.com with the statement credit and GAME10 promo code

PrettyBoyFloyd posted...

Credit Cards can and will get hacked.

With cash someone actually has to take it from you without risking their own lives.

Lol