/biz/ - Business & Finance

[Anonymous No.50384190]

There are people on /biz/ who believe credit cards are a scam, and there are people on /biz/ with credit cards who believe credit cards with annual fees are a scam

[Anonymous No.50384225]

I only have a debit card.

[Anonymous No.50384252]

>>50384190
>Assuming there is anyone on biz who isn't poor.

[Anonymous No.50384483]

>>50384190
they are a scam, but a useful one

[Anonymous No.50384525]

Capital One Venture X is worth the annual price, if you travel a lot. Free miles every year, instant access to lounges, and better car rentals. I use it for dinners and wind up with like 100k miles each year on top of what they give me, you can convert at higher ratios too, free vacation travel every year. Pretty legit.

If you're irresponsible with your money don't bother having one though.

[Anonymous No.50384716]

>>50384525
Amex plat is better

[Anonymous No.50384853]

>>50384716
The fee is also much higher, almost double

[Anonymous No.50385091]

I have a 1 percent cash back card that I use for everything. It gives 2 percent back on gas and groceries. I keep it because I don’t want to pay attention to rotating rewards or any other bullshit.

[Anonymous No.50386543]

>>50384190
I have over 20 open credit cards with a total limit of $250k. I'm the one scamming the credit card companies lol. I refuse to open any cards with an annual fee though.

[Anonymous No.50386837]

>>50386543
>>50385091
>he never graduated beyond babby's first credit card

[Anonymous No.50386929]

>>50386837
I've earned over $15k in cash over the past few years from churning through credit cards and checking account bonuses. Step your game up, poorboy.

[Anonymous No.50387486]

>>50386929
what bank ui is that?

[Anonymous No.50387621]

>>50384525
Chase Sapphire Reserve is well worth it.

[Anonymous No.50387631]

>>50384190
From Canada so our credit cards are pretty shit, my two main ones are both from Amex, I have the cobalt and aeroplan reserve I will probably replace the reserve with a platinum and close down my cobalt card.

[Anonymous No.50387662]

Sam Hyde is redpilled on this topic if you didn't know

[Anonymous No.50387698]

>>50387486
It's mint.com

[Anonymous No.50387808]

>>50384190
>he pays real money to consoom

[Anonymous No.50387820]

>>50384190
>dude just spend money you don't have lmao
retard.

[Anonymous No.50387822]

>>50384853
Just join the US military, you pay nothing.

[Anonymous No.50387835]

>>50386929
>I've earned over $15k in cash over the past few years from churning through credit cards and checking account bonuses
what is this exactly? i have no familiarity with credit cards beyond the knowledge that they give bonuses for buying shit within certain periods, is this similar?

[Anonymous No.50387838]

>>50384190
They are a scam, but they are a scam you can use if you make enough money and properly know how to allocate your money. All debt is a scam, the only question is who is getting scammed, you or them.

[Anonymous No.50387962]

>>50387835
Essentially this. The credit card issuer offers a $150-$300 cash bonus for charging $500-$2000 to the card within 3 months. I simply use the credit card to pay for food or bills or anything else that I was going to purchase anyway. Then I simply pay the card back in the next statement cycle so I'm never charged interest.

[Anonymous No.50388246]

>>50384225
Why come into a credit card thread, the most secure form of payment, and boast about only using the least secure form of payment? The only reason you should have a debit card is so you can get cash for the rare instances where it's the only accepted form of payment.

[Anonymous No.50388251]

>>50388246
because debt is slavery

[Anonymous No.50388256]

>>50387962
gotcha, is this much of a pita to do? or is the signup for a creditcard relatively easy? ive got something expensive im looking at buying

[Anonymous No.50388300]

>>50388251
You have to be a retarded to not make money off credit cards. Just treat it like a debit card and pay it off in full every month and enjoy the reward bonuses and credit score boost

[Anonymous No.50388318]

>>50388300
no

[Anonymous No.50388345]

>>50386929
What's your credit score? I want to do this but I'm under the impression that opening up a bunch of lines of credit in a short time period would be detrimental to the score.

[Anonymous No.50388392]

>>50384225
>>50388246
>>50388251
I got my debit card stolen once, took me months to get my money back. If my credit card gets stolen, charges are taken off in minutes. Debit is horrible. My debit card is locked in my safe. I pay off my credit cards weekly, even though it's technically worse for my credit. Debit cards are a meme.

[Anonymous No.50388483]

You can make them work for you but you're constantly playing their game. Better option is not to play.
Not to mention the psychological insensitive. Again why bother playing.

[Anonymous No.50388577]

>>50388483
Because its not only the most secure way to spend your money, but you're also gaining advantages that don't come with cash or debit usage.

[Anonymous No.50388587]

>>50388577
name one that concerns me

[Anonymous No.50388618]

>>50388587
1.5% cash back, free gasoline, free air travel miles, discounts on food and other basic goods at major retailers just to name of few that come with beginner cards.

[Anonymous No.50388628]

>>50388618
this doesn't concern me

[Anonymous No.50388645]

>>50388628
>I don't like free money and security
No problem, I won't try to convince you

[Anonymous No.50388651]

>>50388483
>make purchases with credit card
>pay off credit card immediately and pay no interest
>get points that i can use to buy things on amazon
why would i give up the ability to regularly get things for free?

[Anonymous No.50388670]

>>50384190
they're like a chainsaw actually. Depends on whether you cut wood for yourself to keep your house warm or you cut your hands off.

[Anonymous No.50388691]

>>50388670
>>50388651
If people don't understand the importance of using credit, don't waste your time trying to get them to understand. They'll get it eventually. We are stuck in this system. You either learn to work in the system, or stay poor forever.

[Anonymous No.50388740]

There are plenty of no-fee credit cards out there with good rewards already, you'd have to spend unreal amounts of money to make up for the annual fee

[Anonymous No.50389081]

>>50384190
I only got two credit cards that I use. I use my 5% cash back Amazon prime card for all Wholefoods and Amazon purchases and the 2% cash back Citi Double Cash Card for everything else. I also got a Chase Freedom card that was my first credit card, but that's been demoted to the junk draw since I don't use it anymore.

I don't feel like I need any other cards with these two covering all my purchases, but I'm looking into a travel card down the line.

>>50384525
The Capital One Venture X is looking good at the moment. Either that or a Chase Sapphire Reserve or Preferred.

[Anonymous No.50389132]

>>50384190 (OP)
I only got two no-fee credit cards that I use. I use my 5% cash back Amazon prime card for all Wholefoods and Amazon purchases and the 2% cash back Citi Double Cash Card for everything else. I also got a Chase Freedom card that was my first credit card, but that's been demoted to the junk drawer since I don't use it anymore.

I don't feel like I need any other cards with these two covering all my purchases, but I'm looking into a travel card down the line.

>>50384525
The Capital One Venture X is looking good at the moment. Either that or a Chase Sapphire Reserve or Preferred.

[Anonymous No.50389169]

If something is free, you are the product.

[Anonymous No.50389194]

>>50389132
How the fuck is the Chase Freedom in the junk drawer when it's currently on the 5% cash back category in gas purchases? Probably the best card at the moment.

[Anonymous No.50389214]

>>50388256
It's pretty easy, i got my first credit card with no credit. The best cards give you 200 hundred for the first 500 you spend. I don't know if it's good for your score, I heard checking your score is bad for your score.