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Household debt soars at fastest pace in 15 years as credit card use surges, Fed report says


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2 minutes ago, tnts4me said:

Back in the 70's, a friend and myself went to FL to visit some friends that we use to work with.  We went to rent a vehicle for the week, guess what?  They required a cc for deposit on the rental.  I had enough money with me I probably could of bought the rental.  My friend happened to have one and we used it.  I made sure that once we got back I got one.  Not saying you need to use it but sometimes you just need one.

In a case like that I do have 2 debit cards from 2 different banks.

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11 minutes ago, EvilBird said:

Gotcha . Well hard to tell with you counting everyones money and the big ASSumptions . :good:

So you were assuming what I meant.

Gotcha.

:bc:

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Just now, SkisNH said:

Debit card

Alot places don't take a debit card, or IF they do, they still put a hold on your funds if they do. Just easier using a CC.

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1 minute ago, SkisNH said:

Let's all not lose sight of the topic...the concern for ever increasing consumer debt. I still contend the best way to win the game is to not play it. 

Using a CC does not mean you're in debt. Using a CC and not paying your balance, that's another story.

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1 minute ago, Steve753 said:

Using a CC does not mean you're in debt. Using a CC and not paying your balance, that's another story.

Agreed but life happens....for the well healed no worries. But, if your not and covid happens and you get laid off or a recession etc..you might choose to carry that balance forward. 

It's best to simply not play the game. 

 

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1 minute ago, SkisNH said:

Agreed but life happens....for the well healed no worries. But, if your not and covid happens and you get laid off or a recession etc..you might choose to carry that balance forward. 

It's best to simply not play the game. 

 

You're not understanding. I could pay cash for anything I buy on my card. I'm not using my card because I don't have the money. It's the simplicity and benefits. 

Like I've said. Why not take advantage of that. I don't even have to remember to pay my monthly Visa bill. It automatically comes out of my account.  Easy!

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I don’t use a debit card. It’s really a no brainer for me. Fraud protection is greater with credit cards and I like the points. I’ll have more than a $1000 of free money this year using a credit card. That would be $1000 less in pocket had I used a debit card. Gas money. :) 

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2 minutes ago, Snake said:

It's important the hotel cashier making $17.59 an hour see your credit card and NOT think you have a low credit score....

Roger, over.

You go sit by you're safe little fella. Everything will be ok.

:bc:

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