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So true


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Thankfully some of us know how to use our brain. But blame the CC companies, that's much easier than taking responsibility for your own actions. 

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1 hour ago, Angry ginger said:

everything, who wants to carry cash and I prefer to deal with AMEX than my bank if theres an issue with a charge

Recently I have started to carry more cash and using the card less. Our last 2 vacations the card got hacked. No cost to us but a huge pain in the ass.

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1 hour ago, JEFF said:

Who doesn't want free money? Rewards add up over the course of a year. Of course you have to have some semblance of fiscal responsibility.

True but the rewards have become smaller and smaller. 24% charges are loan sharking

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1 minute ago, Mainecat said:

True but the rewards have become smaller and smaller. 24% charges are loan sharking

Don't carry a balance and poof! 0% 

And 3% back. Seems like a no brainer to me?

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2 minutes ago, Mainecat said:

True but the rewards have become smaller and smaller. 24% charges are loan sharking

No doubt but the people can simply STOP BUYING SHIT THEY CAN'T AFFORD.  

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Just now, JEFF said:

Don't carry a balance and poof! 0% 

And 3% back. Seems like a no brainer to me?

Yep.   I charge a bunch of stuff at work thru my Cabelas Visa.   Get about $1000 worth free hunting stuff every year.   I simply pay the same day of the purchase.  

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2 minutes ago, Mainecat said:

Not shocking.   I look back at what my families bills were as a kid as compared to today.   Its crazy.  I asked my mom what our phone bill use to be.   She said most months well under $20.   Now families probably average way over a $200 with data plans.   Thats just one example.

 

Edited by Highmark
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1 hour ago, JEFF said:

Don't carry a balance and poof! 0% 

And 3% back. Seems like a no brainer to me?

The problem is those points will change or stop in 12-24 months and you have to chase another deal.

 

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5 minutes ago, Mainecat said:

The problem is those points will change or stop in 12-24 months and you have to chase another deal.

 

Not on all cards.   I've been getting 5% towards GM vehicles since the card started.   $500 max per year $3500 max total.   I usually replace vehicles every 5th year.  Boom $2500 off.  Done it on at least 4 trucks.  You have to use them like a debit card.  

Edited by Highmark
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Just now, Kivalo said:

Responsible budgeting and credit management is something that should be taught in schools.

Absolutely.  :bc:

 

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We use two cards for convenience and the perks are worth it.  HOWEVER, years ago, just for the heck of it.  My wife and I sat down and decided just to use cash for a few months.  So, we came up with a dollar amount we got at the first of the month and when that cash was gone, no more.  It was interesting because we are both pretty good with money.  We actually spent about 30% less during those months (sometimes more), and did without nothing but extra shit we didn't need.  AMAZING.  Not sure why we stopped that....convenience has it's downfalls and if people aren't careful, that minimum payment sure looks easy to start paying.  And that's a big "oops".

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3 minutes ago, Highmark said:

Not on all cards.   I've been getting 5% towards GM vehicles since the card started.   $500 max per year $3500 max total.   I usually replace vehicles every 5th year.  Boom $2500 off.  Done it on at least 4 trucks.  You have to use them like a debit card.  

The original card is unlimited.  

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Like has been said. If you have a brain and simply aren't a money moron they can be real handy. We use the Visa card for just about everything we buy and simply pay off the balance in full when the bill comes in. 0% and I get to use their money for almost two months before I actually have to pay for it if the purchase is timed right.

Buy something the day after your billing date and you don't see the bill until it arrives in the mail about 5 weeks later. Then you have until a couple of days before your billing date just to make sure it gets processed so almost two months of THEIR money.

Nice to be able to see something you want but don't have enough cash in your pocket but still leave the store with it.

Then the annual cash back.... Last year close to $1000.00

Now if you're stupid enough to buy what you can't afford that's another story.

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6 minutes ago, racinfarmer said:

The original card is unlimited.  

Nope.  


How about bumping up the $500/yr ceiling on the original GM Card? The card started (in 1994?) with a $1000/yr ceiling with 7 years of accrual for a $7000 cap. Then, somewhere around 1998, you cut the program back to $500/yr, 7 years, $3500 cap. Well, it's been 15 years now and the cost of everything has gone up (including the cars), making this benefit less and less valuable. As a percentage of GM Card holders, there can't be many people left in this program after many of them "switched over to" the "New" GM Card (in '98). Why not reward these loyal customers with a ceiling bump (say, to $750)? It wouldn't be without benefit to you. Many of these people probably stop using the card once they reach the maximum accrual for the year. You'd get another $5000 worth of charges (i.e. merchant fees) from every one of these card holders in exchange for $1750 more in rebate dollars at time of car purchase. Sounds like a win-win to me.

Edited by Highmark
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More interesting info-

https://www.valuepenguin.com/average-credit-card-debt

1 hour ago, Highmark said:

Not shocking.   I look back at what my families bills were as a kid as compared to today.   Its crazy.  I asked my mom what our phone bill use to be.   She said most months well under $20.   Now families probably average way over a $200 with data plans.   Thats just one example.

 

when I was a kid 3 channels with a rooftop antennae....FREE! Then came cable 9.99 a month 22 stations....then it went out of control. Most towns allowed one contract with one company and they would just increase every year.

First phone bill I paid when I got married was under 20 bucks. Electric was the same

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