/biz/ - Business & Finance

[Anonymous No.49270721]

reminder not to fall for credit card shills flooding /biz/. if you're 25+ and still have no CC you have successfully survived the psyop

[Anonymous No.49270819]

I have 1 but never used it before, i got this via mail from my bank if i want to or not. German btw no one has CC here except jews

[Anonymous No.49270925]

It has saved me on a handful of occasions.
Some months when I unexpectedly have to take my dog to the vet and repair my car. I'm not rich enough to just absorb those costs but delaying them another month on the credit card allows me to budget and spend accordingly.

...or are you just talking about niggers who YOLO spend and accept the 6 gorrilion % APR?

[Anonymous No.49270979]

>>49270721
>but it's free money when I consoom

[Anonymous No.49271038]

Credit Cards are fine as long as you aren't a retard. Problem is, most people are retards and CC companies know it.

You should always treat your CC like it's a debit card. I have mine set to autopay in full every month. So for me it's just free airline miles. Usually pays for a ticket to visit the parents on Christmas. Also keeps my credit score up since it's always paid off 100% of the time.

[Anonymous No.49271067]

I don't use them because I don't like to be in debt at any point in time, if I buy something I buy it straight up and never spend a single milisecond worrying if I have anything else to pay off, ever.

Who cares about the pocket change thousand or two per year of "cash back", I prefer not owing anyone anything ever.

[Anonymous No.49271089]

>>49270721
I buy everything on credit then just pay it off at the end of the week. 1% back on everything, why not?

[Anonymous No.49271116]

>>49270721
>I FUCKEN HATE CRED-IT CARDS
>KIKE SCAM IS WHAT IS THEY IS

[Anonymous No.49271164]

I owe 2200 from teeth cleaning to gas to getting new tires. It sucks fucking ass but I’ll pay it back with $350 a week intervals. Have to pay it back by July 9th.

[Anonymous No.49271185]

>>49271116
literally everyone living in such places is debtmaxxed 100% at all times

[Anonymous No.49271209]

>>49270721
its literally insane to me that there are people on fucking /biz/ of all places who dont realise how much of an opportunity debt and credit cards are especially if you are american
just by putting any effort at all into your credit cards you can cut your expenses by 5% easily as an american
>>49270925
carrying a balance is bad you never want to do that unless you absolutely have to or your card offers you to do it for free, which some will for a few months
i have never paid interest on any of my cards
>>49271067
hey retard if you do what >>49271038 and anyone sensible does then its functionally no different to a debit card besides giving you rewards
>Who cares about the pocket change
anyone with a brain you fucking moron its literally free money
all you have to do is sign up to a decent credit card, set a direct debit, and forget about it
anyone who isnt using a credit card for every single expense is either fucking stupid or has some other rewards program they prefer like the coinbase card, a current account, or something

[Anonymous No.49271391]

>>49271209
I spend more in ETH gas fees in a single week than the pocket change cashback, I really really don't care to waste my time ever thinking of paying any debt since I can afford it straight up multiple times over

[Anonymous No.49271605]

>>49271391
>im just too rich to care about free money!
ok mr big shot sure
>waste my time ever thinking of paying any debt
guess what retard you dont have to its called direct debit
i really dont care if youre larping or not but its true that so many people with zero basic financial sense made it from crypto just by being early
people much richer than you or i can ever dream of being buy everything with debt: if they arent just too incredibly busy to do the intense mental legwork of owning a credit card then nobody is
debt is literally how the economy works

[Anonymous No.49271783]

>>49271605
>im just too rich to care about free money
There's no such thing as free money
>people much richer than you or i can ever dream of being buy everything with debt
Yeah and? Who gives a shit let him buy his 12th diamond encrusted Maserati with debt
>debt is literally how the economy works
Yeah and the economy is so good am i rite, lets just owe trillions

[Anonymous No.49271793]

Credit cards are great if you're not a mouth breather. Have 3 to build credit. On one of them I get 5% cash back on utility bills so I get dosh every month from my tenants rent from me. Also have one for LLC so eventually can get business loan and get cash back for shit I would've spent money on anyways, like shipping

[Anonymous No.49271901]

>>49271783
>There's no such thing as free money
there literally is and youre giving bad financial advice you know is bad
even if you are mr billionaire just too rich to care about a universal 5% discount most people arent so why even apply your situation to them?
>Yeah and the economy is so good am i rite, lets just owe trillions
none of us can do anything about it
either play the game or just hurt your own finances out of spite but you cant opt out

[Anonymous No.49272098]

Where do credit card companies get the money they lend? They create new, digital money out of thin air AFTER the borrower signs the loan contract.

Private banks create all money when they issue loans.

bankLIESdotORG

[Anonymous No.49272100]

>>49271901
>there literally is
There isn't. If you hear free money, 99% of the time it's not free or it's a straight up scam.
>universal 5% discount
It's not universal and it's not 5% for everything and you know that as well.
>why even apply your situation to them
Where am I applying my situation to anyone? I am literally just talking about myself. Sure some poorfag can put some effort in with 15 different credit cards to get as much cash back as possible while keeping up with everything to be paid in time, I do not care to put that effort in for pocket change.
>hurt your own finances out of spite
It's not out of spite, it's for peace of mind. I sleep like a baby not thinking about any possible additional expenses or me having to check if everything is paid off, do I have enough on that card how much on that other card etc. Everything I own is immediately paid off and mine that instant, simple as.

[Anonymous No.49272123]

>>49272098
Take your meds holy shit

[Anonymous No.49272149]

Just have one to pay off every month to build up your goy score. What's so fucking hard about it and why is this controversial.

[Anonymous No.49272187]

>>49272123
What did he say wrong? Banks literally create "money" through loans/credit.

[Anonymous No.49272229]

>>49272100
its pointless talking to you
you literally admit that using credit cards is good financial sense but then say theyre bad because of meme reasons that mean nothing in reality
its like an hour of work a year to organise your credit - anyone sensible does it
>>49272098
so fucking what come back down to earth where people have bills to pay and ambitions and dont have the time or money to imagine they can do anything about the existence of fractional reserve lending

[Anonymous No.49272477]

Depends on the country, in here credit score doesn't matter as much, if you want a loan they care more if you have money deposited with them or if you could provide collateral like a land title.

[Anonymous No.49272549]

>>49272229
Fractional Reserve lending doesn't exist. That model says the money being lent exists in an account somewhere before the borrower arrives. In fact, the money lent by banks is created digitally AFTER the borrower signs the loan contract. Banks create new, digital money with no need for prior reserves or deposits.

Richard Werner proved this empirically in 2014.

The Fractional Reserve model is myth designed to shield the private banks from blame for the destruction they cause. This myth pretends that the banks are unaware they are creating new money, and are only loaning out a certain percentage of their deposits. In fact, the bank owners are 100% aware that they are creating new money in their computers with no need for prior reserves or deposits.

Private banks create all money, NOT government.

bankLIESdotORG

[Anonymous No.49272711]

>>49272549
im waiting for the part where you explain how anything you say matters whatsoever to me

[Anonymous No.49273254]

Just got my Binance card today but that's a debit card really. My banks credit card is just a convenient way to interact with AliExpress or Alibaba. Also have it on auto pay each month and a 1500€ limit in place.

[Anonymous No.49273334]

>>49272711
Here's a short list of side-effects of the bank-controlled money system. Are you saying none of these matter to you or your family whatsoever?

1) Inflation
2) Recessions
3) Economic Depressions
4) Hyperinflation
5) Unaffordable housing
6) Government controlled by money creators
7) Economic lies in college and High School textbooks
8) Endless Government debt
9) Unpayable Debts to bankers
10) Wars started by money creators.

bankLIESdotORG

[Anonymous No.49273501]

>>49272187
1. No they don't, the Federal Reserve does through banks
2. It's the wording
>OUT OF THIN AIR
As if it's valueless. As if it doesn't have spending power and as if you're getting scammed. Retard just pay off your credit card and don't borrow money you can't pay. Use your credit card as a middle man. Buy thing with credit card, pay off credit card. Wow that was easy, now I just built credit and made some cash back. I can't believe how moronic some people are

[Anonymous No.49273519]

>>49273334
im saying i cant do anything about it and its quite literally a waste of energy to give a shit

[Anonymous No.49273600]

>>49271209
Is there any good credit cards that offer like 3-5% cashback across the board? Most seem to only do good cashback on specific categories, and I dont feel like having 3 different cards for various things.

[Anonymous No.49273640]

Let me guess you also think getting a mortgage is a bad thing. Fucking kek.

[Anonymous No.49273653]

>>49271038
>>49272149
someone who wasn't raised by retards
>>49271793
3 seems like one too many, but that's just me, otherwise I'd get an amazon card. currently living in a city with a 10 minute walk to work so I can't just drive anywhere when I need a thing

[Anonymous No.49273667]

>>49273501
You are wrong. I can tell by your response that you believe the debunked "Fractional Reserve" model that says banks only lend out money created by the Fed. This theory was proven wrong in 2014 by Richard Werner.

In FACT, all money is created by private banks when they issue loans. Banks DO NOT leverage up central banks money. Nor do they loan out the deposits of savers. Banks, including credit card companies, simply create new, digital money to lend AFTER the borrower signs the loan contract. The entire money supply is created this way.

bankLIESdotORG

[Anonymous No.49273711]

>>49270721
My 28 yr old friend just told me that he's never had a CC before and plans to buy a new car next month with his first real job. He also said that banks give the shittiest loans. He really knows his shit like you OP.

[Anonymous No.49273740]

>>49270721
I went 29 years without em, had a hard time, got a cc, used it to keep afloat, and have paid it off after recovering. Just gotta acknowledge very smart people have invested a lot of time and money on psychology trials to find the best way to fuck you out of money via your credit card and your own human nature. If you can account for that and manage yourself, its fine.

[Anonymous No.49273833]

>>49273600
im not american and it is true that you cant typically use your credit card for literally everything eg rent is usually impossible to pay with one
if youre willing to put in a few hours of work a month then you want to juggle newcomer bonuses and rotate cards eg you can get a free amex which gives you a bonus 10% back for the first three months or whatever before dropping
points can be valuable as well but theyre usually only worth it if you spend a lot
otherwise idk i look at mediocre american cards and get jealous because anything over 2% cashback is really exceptional here
>I dont feel like having 3 different cards for various things.
why not?
you really should maximize credit available to you just in case you ever need it, although you should strive to never use it, and once you have them set up they literally manage themselves provided your direct debits dont bounce, which they never should
really just look for newcomer bonuses and get a new card every year or so
its true that unless youre an absolute poorfag it isnt worth expending a lot of energy over 1% cashback more or whatever but there are a million websites that are designed to help you compare them now anyway

[Anonymous No.49274095]

If you're not a retard, using a credit card over cash/debit has numerous advantages. Literally all you have to do is pay the balance before due date...

[Anonymous No.49274217]

>>49270721
OP is a faggot, a gigantic faggot, but here is the correct way to use a credit card:

>Get credit card with "spend X amount get $100-500 back"
>Spend X amount you would've spent anyway
>Backup your credit card with your bank account and never run a balance
>Rake in reward points, cash them out
>Get another credit card with "spend X amount get $100-500 back"
>NEVER allow interest to add up on a credit card
>Credit score 782

The credit companies only pay me money in rewards points, I have never EVER paid them any interest, credit card companies can blow me and they do

>Only dumb assholes are not doing what I am doing and only dumb assholes never get a credit card at all

[Anonymous No.49274295]

>>49274217
In summary, I've been paid $1000 or so in initial sign up rewards and rewards points, haven't paid credit companies anything.

Will never pay them anything. They will pay me.

[Anonymous No.49274371]

>>49270721
1% Cashback is such a useless amount, I don't understand how so many people get excited about it. If you spend 1000 a month, you only get 10 bucks back. Considering the fees, you make a couple of bucks a month but you have to take on the risk of something going wrong and you not being able to pay and having to pay insane interest.

[Anonymous No.49274422]

>>49270721
>>49270979
I don't get why this is a meme - I just paid my rent with my credit card, knowing I had plenty of cash to back this month's balance....and I get 2500 SkyMiles for Delta just by doing that one txn....by using my card for my monthly expenses instead of cash, I get to fly home to visit my family for free several times per year

[Anonymous No.49274458]

>>49270721
I maxed out my card buying crypto lol

[Anonymous No.49274471]

>>49274422
Cause following biz is how you become poor

[Anonymous No.49274725]

>>49270721
Reminder that after working retail at Home Depot they literally reward you with candy, store coupons and discounts, raises, bonuses, pizza parties and other incentives every time you get some sap to sign up for their damn near 30% APR credit card. It's like they only thing corporate cares about. Wonder where they got the idea to push the card so much? It's kinda sad that you are rewarded for preying on poor fools.

[Anonymous No.49274874]

>>49270721
it's really hard to have a rational conversation about credit cards because of the fucking americans who NEED to use them to raise their good goy credit score, a system not used anywhere else in the world

so on the one hand you got normal people explaining the normal pros and cons of credit cards, on the other hand you have fucking americans spitting insults and bragging about raising their credit score under the delusion that such a system is relevant anywhere else but their shithole

[Anonymous No.49274937]

How do I get into debtmaxxing? My score is around 750.

[Anonymous No.49274983]

>>49274371
>you have to take on the risk of something going wrong and you not being able to pay and having to pay insane interest.
as opposed to the risk of having literally no money and not being able to buy anything?
how do you even imagine these sort of situations to arise?

[Anonymous No.49275149]

>no such thing as free money

correct, the reason why you can get free money (rewards) from credit cards companies is due to the fact they make so much fucking money from dipshits who max out their cards and pay insane % of interest

They are willing to give out 3-5% to you because they will get some dumbass to play 12-25%

[Anonymous No.49275232]

Correct me if I’m wrong but I believe with certain credit cards become just a money duping glitch? Like theoretically if you have a million dollars and you spend it on some shit can’t you get like 250k worth of rewards that you can cash out for real money? Isn’t it more busted that crypto? Kek

[Anonymous No.49275241]

27 and no CC. Feels good mane.

[Anonymous No.49275360]

I used my credit card and took out a loan for my car when I was 18 to build credit. Now I'm 25 at ~780 credit score and I never use them. CC's are a scam and should never be used.

[Anonymous No.49275444]

Credit cards are ruined my 20s.

But I'm paying them off!

[Anonymous No.49275498]

it feels like credit was designed to keep humans working. And making everything overpriced.

[Anonymous No.49276551]

>>49275444
The best way I can describe after being in CC debt for years is it is like digging yourself out of a hole with a plastic spoon while bullies keep putting dirt back in the hole with a backhoe. And send you letters in the mail about taking out loans to consolidate your debt. These cretin have no shame. The system is designed to put you in debt and once your in, keep you in it like a hamster wheel.

Once I decided enough kikery was enough, I stopped using them and slowly starting paying these plastic enslavement tools down and only have a few thou left. Shit sux man.

[Anonymous No.49277301]

>>49276551
Damn that sucks but thanks for paying for my vacations lol

[Anonymous No.49278233]

I'm done being a creditlet. What cards should I get to begin establishing credit and earning rewards? I just got the vanilla Wellsfargo credit card first since it was easy to get amd they gave me a 4k limit. What should my next card be?

[Anonymous No.49278332]

>>49278233
If you actually care about getting the most value for your dollar spent and are okay with juggling credit cards for certain types of purchases then Citi Custom Cash, Capital One SavorOne, Amazon Rewards Visa are good.

If you just want a flat 2% cash back card you can use for everything and not really have to think about then PayPal, Sofi and WF Active Cash, assuming that isn't the Wells Fargo card you're talking about.

[Anonymous No.49278370]

>>49271038
Same here, but my credit score doesn't go up anymore because they don't like that I make too many purchases on credit even though it's always paid off on time

[Anonymous No.49278384]

I have tried and tried AND TRIED for years to get someone, anyone to explain to me rationally why a credit card is somehow better than a debit card.

They just end up seething because they know I'm silently judging them for lacking financial responsibility.

[Anonymous No.49278392]

>>49278332
Nice, yeah I want to build credit and get rewards. I've realized that to many things I want in life are tied to a credit score unfortunately.

[Anonymous No.49278659]

>>49278384
I know you're just a retard fishing to troll but for the others out there hope it helps.

>why a credit card is somehow better than a debit card.
So the vendor doesn't have access to my entire bank account and better dispute teams to get fraud charges from scammers removed. A bank account is essentially a cash account, for the retards like this anon, since you can exchange for cash at no cost.

Why do I do this?
Because I once had my whole checking account of ~$2k get siphoned out of my bank account from a gas station pump so fast that I couldn't even fill my gas tank. It took weeks to get that real money back. If I used a CC, that would've never happened and if it did get stolen I have up to 180 days instead of 30/90 to report the fraud charges. Ironic thing was even the phone support guy asked me, "Why did you use your debit card at a gas pump and not your bank's CC?"

[Anonymous No.49278696]

>>49278659
Sounds like you're an idiot and didn't check before you pumped gas.

[Anonymous No.49278708]

>>49270721
Besides this being obvious bait, only midwits think all debt is bad

[Anonymous No.49278722]

>>49278370
It's the paid off on time part they don't like. They want you to carry a balance. There's a good reason they don't teach this shit in schools. They want people dumb and uneducated about credit thinking its free money to buy PlayStations and Beats with.

[Anonymous No.49278792]

ITT: bizlet good goy scores ≤ 690

[Anonymous No.49278830]

>>49278696
Your mother never loved you and your father actually hates himself for having such an autistic son. Do society, your family a favor and become be an hero.

[Anonymous No.49278943]

>>49278696
>no one can spoonfeed me obvious info
>anon spoonfeeds
>UR JUST DUMB

[Anonymous No.49279088]

>>49271209
>(((opportunity)))
probably 90% of people will lose more on interest payment than they will make on points programs. only a small percentage of people have the personality necessary to avoid the known psychological pitfalls of credit.
-also, many people are easily stressed out by thinking about spending and points programs, so their time would be better spent making or saving money another way, like DIYing something in their house instead of hiring someone, or by fixing an appliance instead of buying a new one.
-also, it’s hard for an individual to estimate when they spend more because of points programs. would you have really bought that extra thing if you couldn’t charge it? the same person is usually more likely to spend money when they can use credit, which makes the expenditure unnecessary by definition.

[Anonymous No.49279115]

>>49273667
Ok well by that logic then it's actually not "creating money". Just making an IOU until you pay them back, when it is inturn replaced by the real money that you made. In which case is a pretty sick deal

[Anonymous No.49279149]

>>49271783
this "free money" is costing you time and attention. if you think that’s free you are probably wasting a lot of your life on a lot of trivial things.

[Anonymous No.49279302]

>>49279149
agreed. i find things like churning are only done by poor people. who cares about 2% cashback on some stupid shit? who cares about some miles or signup bonus? do leetcode problems instead and get a job making 200k more. people that waste time on this shit have poor life priorities. if you aren't making atleast 250k/year then you could be spending your time better elsewhere.

[Anonymous No.49279519]

>>49270721
>>49270979
Will you retards fuck off back to /pol/ already?
Credit cards are apparently a scam to you nitwits, but losing your life savings in buying shitty silver coins to pwn the jews (somehow) is based, right?

[Anonymous No.49280037]

>>49270721
Credit cards get the money to give cashbacks by getting a cut from sales and sellers pass on these costs to the customers. That means anyone who doesn't use credit cards is effectively subsidizing those who do. So please continue not using credit cards.

[Anonymous No.49280086]

>>49279149
How's it costing me time and attention? The cashbacks are automatic. It's just a discount at the expense of creditless cucks.

[Anonymous No.49281472]

>>49271116
>>49271901
>>49278708
>>49277301
>>49278332
>>49275149
>>49274217
Debt with interest is a sin and those of you supposedly somehow not paying the jews any fees are still taking advantage of your fellow man with "rewards" that are funded by their debt to kikes. Enjoy hell.

[Anonymous No.49281551]

>usury
pass

[Anonymous No.49283407]

>>49275232
That's part of the swipe fees charged to merchants and interest payments from revolvers. Essentially the revolvers subsidize the rewards for the deadbeats

[Anonymous No.49283470]

>>49270721
>>49270979
>t. Lives at home and doesn’t have a car

[Anonymous No.49283535]

>>49270721
You should only get credit cards if you are 125 IQ or higher. Otherwise you will ruin your life but its good OP knows his own limitations. That being said if you are at or above 125IQ congratulations you are entitled to the approximately $3000+ of literal free money in addition flights, hotel rooms, and a massively expanded credit line which combined with balance transfer offers is a essentially 12-18 month loan usually at 3% APR.

[Anonymous No.49283717]

kek at all of the retarded zoomers in here without CCs LARPING as boomers
GL trying to buy a house with 500 credit score.
Lmao.