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/biz/ - Business & Finance

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24034795 No.24034795 [Reply] [Original]

can some americans here please explain to me why you have so many credit cards? seriously, every american tourist I've seen so far has between 4 and 10 credit cards
Dont you have to pay a yearly fee or something for those things?

You're paying the banks to be able to pay for other things
doesn't make sense to me

>> No.24034867

>>24034795
Good question. I only have one. Before I moved to canada i didnt ever have one. It seems that you can't get by here without one. People actually get uncomfortable when you have lots of cash.

>> No.24035036

I'm not sure why you would need more than a couple, but if you're not retarded credit cards save you money. There are tons of credit cards that offer cashback on your purchases and have zero fees.

>> No.24035068

>>24034795
Well, where was the milk coming from?

>> No.24035120

Credit lines are free in America with 0% down for the first 18months then you pay it off and start a new card so you never pay any interest.

>> No.24035182

>>24034795
It has a technical term for it, but the main reason is for the rewards and point hoarding. For example: you get cash back (which is essentially just a rebate) for using a credit card. Most cards have a temporary period of 0% interest as well so you can use it same as cash. Lastly, under some dire circumstances, you can use your credit card to pay down a debt that has a higher interest rate and “balance transfer” that debt to your credit card that currently has 0% interest from, say, 5-10%

>> No.24035616
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24035616

>>24035068

>> No.24035667

>>24035616
that doesnt answer the question

>> No.24035700

>>24034795
It's free and you get points for using them. It's free money if you pay it off every month.

>> No.24035707

0% interest for 18 months means you can put spending on it, keep your cash in something safe earning interests. After 18 months withdraw the cash to pay off the card, and the interest you earned is free money
It requires discipline though, american credit cards work so that financially smart are paid by the tards

>> No.24035719

>>24034795
I have 2, probably getting a third. Credit lines are good, getting stuck in perpetual debt is not good. Just don't be a retard

>> No.24035742

>>24035707
The second piece, is you must keep those credit cards open. Credit rating is based on size of credit and age of credit. So 10 credit cards with large limits open for 10 years are a huge boost. But if one of them closes, it lowers the average age and your credit size. If you close a credit card after opening it, you can lose 50+ points

>> No.24035743

>>24035707
0% interest introductory period is good, I really should get another card soon

>> No.24035839

>>24035068
The whole farm is full of cows and she is exporting cheese to the next town.
Now you will wonder where all the cheese is comming from... Hint:Goblin Slayer rarely takes of his armor

>> No.24036045

>>24035068
Booba

>> No.24036060

>>24035068
the milk truck obviously

>> No.24036696

Cashback credit cards give you a couple percent back. Also improves your goy score

>> No.24037192

Credit score and rewards. I have four, with a total of 90kish credit between all of them. I cycle between two pairs of cards throughout the year, carry no balance month to month, Christmas gifts are paid every year out of the rewards and every 3 years the travel cards pay for a vacation in full. I've added it up before and came up with roughly 2k I get every year above and beyond any annual fees I pay.

>> No.24037812

>>24034795
I get multiple 0% interest credit cards to shift debt around and spend if I want. Free leverage, just need to pay it down before interest starts getting charged

>> No.24037891

>>24035068
She's actually producing synthetic milk

>> No.24038269

Because they're morons that probably have half of them maxed out.
Me, I only have two, both of which I pay off in full each month. One is where 95% of my purchases are, and the other is where I charge recurring expenses (Xbox Live, Netflix, cell phone bill, etc.) so I can keep better track of them.
I used to only have one, but when my credit card info was stolen, it sucked not having one.
As for why we burgers don't use debit cards, it's because US law is much more protective of consumers that are defrauded on credit cards than it is on debit cards.