whats the point of paying off credit cards

[Anonymous No.53173645]

is there really any reason to pay off credit card balances if you make more than the interest they charge? Or if you don't need a good credit score at the moment?

I can take out 10k from my business and pay off my cards, or I could keep that 10k and make a net gain after the interest. So, what's the point of paying back? Will it help my score in the long run or something? Cause as far as I'm concerned, the only thing keeping my score lower is utilization which will jump 120 points the second I pay them off, anyway

do people check credit score history?

[Anonymous No.53173659]

>>53173645
be honest with me, are you a mixed race teenager? i can't imagine this type of question from anyone else. it's common knowledge that credit cards are typically ~30% interest.

[Anonymous No.53173667]

>>53173645
Credit score is only useful when applying for loans as it affects what rate you get. Sometimes rental companies will check your score, but if you're white you should be OK even if it is a bit low. Once I am able to buy a house I'm going to pimp the hell out of my credit score and reign in on all those sweet sweet credit card signup rewards.

[Anonymous No.53173688]

>>53173659

>be honest with me, are you a mixed race teenager?

is this a meme you're trying to force?

>it's common knowledge that credit cards are typically ~30% interest.

thanks for that info, mr. bad reading comprehension. Not like I mentioned

>if you make more than the interest they charge?

[Anonymous No.53173690]

>>53173645
right 1000000000000000% dont even lie to me /biz/

[Anonymous No.53173745]

>>53173659

i legit always assumed credit cards always charged interests since i always saw some kind of apy in credit cards ads..

so i'm kind of shocked that people actually -don't- pay off their statements in full every month, why?

so now i realized that interests rates don't mean shit on credit cards if you know how to manage your finances and that you should just check if there's any annual fee.

[Anonymous No.53173768]

>>53173688
fucking retard, regardless of whether you can outpace 20-30% annualized interest rates, credit cards represent pretty much the highest borrowing cost the average consumer can get their hands on. Why the fuck would you willingly take on high cost unsecured financing when you could find cheaper sources pretty much anywhere other than the mob or payday loans

stupid fucking shitskin mutt

[Anonymous No.53173770]

>>53173645
Anon you are brilliant and so special. You have cracked the code of babylonian money magic. Now just max out your visas and mastercards. Your credit score will go up with good payment history. Don't think about the possibility that your investments may not pay enough to cover the interest rates on your debt. Think nothing of other ways to take out loans with lower interest rates to maximize net income.

>>53173659
Shut up, goy

[Anonymous No.53173839]

>>53173688
in what universe do you have investments with a 30% annual return that compounds daily (which is typical of credit cards)?

[Anonymous No.53174153]

>>53173768

just say you're too low IQ to run a successful business. I do indeed outpace credit card APR, and have already taken out additional credit lines related to my business

>>53173770

>Think nothing of other ways to take out loans with lower interest rates to maximize net income.

not possible until I file taxes and my taxable income changes (it's up 400% from last year). Maybe then i'll refinance everything

[Anonymous No.53174170]

>>53174153
>just say you're too low IQ to run a successful business

that's rich from the dude financing his business with credit cards

[Anonymous No.53174194]

>>53174170

the credit cards are mine, personally. The question was if it was even worth paying them off tomorrow, which apparently the answer is no, given the asshurt this thread has generated

you are so mad, you obviously make no money or are struggling financially. Good luck with life. Maybe crypto will bounce back?

[Anonymous No.53174243]

>>53174194
it doesn't take a retard to see that if you can outpace in the interest cost on the cards then yes in theory it makes sense to keep debtmaxxing but underlying that is the mentality of pushing shit to the limit 100% maxxing out as much debt as possible to maximize income, which at some point will backfire and destroy you, ignorant faggot

[Anonymous No.53174257]

>>53174194
>co-mingled personal and business expenses
your accountant is going to love you. kek.

[Anonymous No.53174434]

>>53173645
Jesus christ I love women so much

[Anonymous No.53174477]

you know the financial pandemic is next, right anon? might as well max out your cards before they delete all the records i mean get hacked and lose all the records. you won't havr debt. and in the same way it doesn't matter if you've been paying your mortgage for 15 years, house is not yours anymore, just think of it as a rental. bank needs to protect itself from unscrupulous people!

[Anonymous No.53174494]

>>53173645
Imagine your profit margin if you didn't have debt

[Anonymous No.53174497]

>>53174170
>that's rich from the dude financing his business with credit cards
Kek