/biz/ - Business & Finance

Hey /b/. I’m just wondering if I’m the only one who does this. For anyone with excellent credit, it turns out you can open up an account for a new credit card fairly easily, it could be any bank (Chase, Discovery, Capital One). Then, you take advantage of the credit cards that have cash back incentives (the ones with no annual fees and the requirement of spending for example $500 in order to earn $150 in the first 3 months). I’ve done this with 6 or 7 credit cards at this point, and am wondering what is the downside to doing this rather than using 1 credit card for all payments. Is my FICO score going to take a hit? Would I ever have any trouble taking out a loan for a house in the future even though I always pay my balances on time?

>buying stuff with money you don't have

I don't get this. It's just boomer logic right? I have like 50k in my checking account. Why would you ever use credit instead of debit? If I can't afford something I don't buy it.

But now I can't get an decent house or apartment because I have no credit history (ie I'm not a deadbeat that buys stuff they can't afford). Also employers look at your credit score and shit. Why? ?
I just don't understand.

I'm looking to apply for my first credit card, but I don't know what card to look for as far as benefits go. I know I'll pay on time, so interest rates don't bother me. The items I end up spending the most on would be groceries, gas, and the occasional item from Amazon. I don't travel frequently at the moment, so I'd love to hear suggestions on what's a good starter Credit card.

>he fell for the cash back/rewards credit card scam

Listen. I know you have no credit card debt. I know you pay your entire statement every month, and never pay interest.

But here’s the catch. You spend way more than you normally would if you were paying with cash.

Google the “cash diet”.

Your brain somehow is more relcutant to part with cash than it is to pay with a credit card.

This is why people spend way more online than they do in stores.

Cut the plastic. The 2% isn’t worth it.

Which credit cards still allow crypto purchases?