/biz/ - Business & Finance

[Anonymous No.55466548]

>he has a credit card
explain yourself

[Anonymous No.55466584]

You needs Jesus

[Anonymous No.55466590]

I plan on getting wealthy from the points!

[Anonymous No.55466592]

It makes more financial sense to have a credit card than not

[Anonymous No.55466593]

>>55466548
please explain.
I got out of debt using Dave's plan can cannot believe this. Probably a debit card, not a credit card.

[Anonymous No.55466684]

YOU WILL PAY OFF MY MORTGAGE UNTIL YOU CAN BUY A HOUSE WITH CASH IN 2084

[Anonymous No.55466707]

>starve your kids

[Anonymous No.55466722]

* I get some money back on the things I'm going to buy anyway

* It keeping my credit score decent in the event I'm in a position I need to take out a loan.

* Easier to correct fraudulent transactions

'm naturally conservative with my money but most people cannot handle credit...

[Anonymous No.55466772]

>>55466548
More protection than a debit card and I get 3% back on groceries and dining out. 2% on gas. Another card for misc. things I get 2% back on everything. Just buy shit I would buy on the debit card but get $$ back. I average about $30 in points a month between both cards = $360 of free money yearly, all I do is use a different piece of plastic. + build credit

[Anonymous No.55466785]

>>55466772
Can you pay your basic utilities like heat, water, etc. as well as mobile and internet plans, subscriptions and all of this monthly shit with credit cards and receive whatever cashback your CC is offering?

t. Europoorian

[Anonymous No.55466831]

>>55466785
currently don’t have to pay any of that sht because me and my fiancé live with her parents, pay rent in cash… but phone and subscriptions all go on the card yes, Spotify I actually get 5% back on. You can put anything you want on a CC so long as you’re responsible enough to not spend money you don’t have. It’s good if you’re in a jam and need $50 until you get paid also, but I’m not frequently in those situations anymore. The trick is if you DO put too much on the CC and can’t pay it off interest is like 27-33%… that’s how people get fucked

[Anonymous No.55466856]

>>55466548
they don't accept bitcoin at my grocery store

[Anonymous No.55466871]

>>55466785
for utilities typically no, but there are services like plastiq for that, they even have a calculator for you to determine if its worth it

[Anonymous No.55466876]

I take a new credit card out every few months for the bonus. Have my core cards I never cancel and then I just cancel the ones with the fee a year later

[Anonymous No.55466902]

I'm building up a credit history while paying it off in full every month to dodge interest.

>>55466785
Cashback is an American thing where they rip-off retailers and give the goyim a small cut, like AMEX. In Europe using a credit card is about getting protection should your holiday company/airline goes bust or you get faulty white goods.

In theory putting a sub on CC is good but if you go over 10% of the card limit your rating gets a spanked so you pretty much should just keep a separate card for it.

[Anonymous No.55466923]

>>55466548
I have lots of credit cards. They're my last line of defense if I ever have to debtmaxx due to an emergency or life crisis.

[Anonymous No.55466935]

>>55466923
Having a lot of unused credit is bad for the your credit score actually. Precisely because banks worry some fugger is planning to debtmaxx.

[Anonymous No.55466944]

>>55466935
Wrong. Low utilization due to having a high credit limit actually boosts your score.

[Anonymous No.55466949]

Because I'm unironically one of the people who can use it responsibly. Been using credit cards for almost 20 years and never carried a balance other than one time I forgot to make a payment I could have easily afforded, now everything is set up for autopay. I don't have any other debt (try to avoid it, I've never had a car note, student loans, etc. only debt I've ever taken out is a very small mortgage and paid it off quick) and use the credit card for stuff I can afford without it and would buy anyway. I always have at least 6 months or so of expenses saved in liquid cash so if there's an emergency I just use that, where most people get in trouble is they have no savings and then the credit card is a crutch when something unexpected in life comes up. I do chase points and get between 2-10% cash back on everything I buy. Obviously not going to get rich from this, but I'm not going to turn away free money. Probably get $1-2k of cash back a year, before interest rates on savings and treasuries were 4-5%, it was way more than I was getting from money in bank accounts and it's all tax free too, unlike interest which is taxed as income.

I do agree that most of his listeners can't be trusted with credit cards and should probably avoid them, though.

[Anonymous No.55467585]

>>55466548
I closed 3 credit card accounts in the past year and only have one left. Don't really use it much but it helps with plane tickets and hotels. Also, I needed one to rent a car.

[Anonymous No.55467644]

>>55466772
>3% back on groceries
which card? Fucking need this

[Anonymous No.55467693]

>>55467644
amex blue cash back has 6% on groceries

[Anonymous No.55467700]

>>55466548
I max them out and simply do not pay them back. Lmao not my problem.

[Anonymous No.55467716]

>>55466592
you aren't getting rich off airline miles or 1.5% cash back. in the meantime you're stuck with the annual fee and this thing that if you let it get away from you can lead to bankrupcy
>but im so responsible yada yada
maybe. somewhere between 20-25% of credit card customers don't carry a balance. the way you'd see it online its only 20-25% who do, nobody wants to admit they are paying 24% APR.

but the truth is they are and these companies are immensely profitable for a reason. they wouldn't be offering these incentives if it didn't work.

[Anonymous No.55467731]

>>55466785
no because the CC companies charge vendors 2%.

[Anonymous No.55467785]

>>55467716
>. in the meantime you're stuck with the annual fee and this thing that if you let it get away from you can lead to bankrupcy

Most cards don't have annual fees, and the ones that do have benefits that greatly outweigh the fee if you spend a certain amount each month. Yeah, credit cards are bad for the people that can't pay off the balance, that interest is absolutely killer, and people that use them to live beyond their means is just irresponsible. But it makes sense for a rich guy to have one, why not?
There is definitely a psychology for some people that they will spend more with a CC, not being aware of how much they are spending, but I just use it for stuff I am gonna buy anyway like groceries, car expenses, general living costs, and pay it off each month.

[Anonymous No.55467811]

>>55467693

Has an annual fee, though, but if you got a big family and buy a lot of groceries, it could easily pay for itself.

But yeah 3% CB on groceries really isn't anything too special if you go down the rabbit hole of chasing CC rewards. Get a couple no-AF rotating category cards and you can get 5% back many quarters.

[Anonymous No.55467817]

I have a default credit card with no annual fee and something like .01% cashback. I pay for everything with it and then pay it off before any interest kicks in.

[Anonymous No.55467965]

I have the one card because the protection for fraud is better than a debit card. I have never bought anything that I couldn't immediately pay off, although I hit the credit limit once or twice when I was just out of school because it was something like $1k.

[Anonymous No.55467977]

i travel

[Anonymous No.55468048]

2% cash back everywhere, 3% cash back at grocery stores, only use them for normal expenses.

[Anonymous No.55468079]

>>55466548
>Costs nothing to own
>Costs nothing to use assuming you pay on time
>Helps get good goy points
>It's the banks money, so if the person you paid is fucking around they will feel the wrath of the god's chosen.
You'd be retarded not to.

[Anonymous No.55468084]

>>55466785
Yes. All my utilities are on my 2% everyone card
>>55467731
They don't give a discount to goyim that save them money by using cash/cheque/bank transfers

[Anonymous No.55468101]

>>55466935
False. The higher the available credit the better, the lower the utilization the better

[Anonymous No.55468113]

>>55466548
I put all my bills on it and then pay it off every month.

[Anonymous No.55468116]

>>55467716
>in the meantime you're stuck with the annual fee
kek, tell me you're a poorfag without telling me.

[Anonymous No.55468135]

>>55466548
His daughter seems to be somewhat redpilled and reasonable, but he is a complete delusional boomer moron

[Anonymous No.55468153]

>>55468135
With that flat of a chest "she" might as well be his son.

[Anonymous No.55468163]

>>55467644
I use capital savior one for groceries and eating out. Citi double cash on everything else. Going to get Amex blue everyday (no annual fee) for 3% back on online buys next

[Anonymous No.55468166]

>>55468153
idc, I'd still eat her asshole ngl

[Anonymous No.55468206]

The argument against credit cards boils down to two things
>people i don't like use them and get debt trapped and complain a lot so i don't use credit cards
>credit cards are jewish
The first argument is retarded and implies that people who don't use credit cards would are as stupid as the people who get debt trapped when given the option.
The second argument is also retarded as it is not only incorrect, but also implies the joos are correct about you and you are a dumb goyim with no self-restraint who will fall into their debt trap.
There is also a very rare argument of "i don't need to, or want to, deal with that". Which is fair enough.

[Anonymous No.55468218]

>>55468166
Of course I would, too.
However I would worship & hate fuck the sheboon like it's the end of the world. I mean she could sit on my face all evening as long as I would be allowed to tongue poke her turd cutter as deep as I could.

[Anonymous No.55468240]

>>55467644
capital one savor

[Anonymous No.55468281]

>>55466548
DUDE, POINTS
REWARD POINTS

[Anonymous No.55468668]

>>55466548
Im credmaxxing while DCAAing on just released gems what's so wrong about it. my 20k on shibART really disagree with you credit-card shaming me

[Anonymous No.55469005]

I don't need to explain shit.
I am a millionaire and become a millionaire once I took on debt. I've done precisely nothing like this bible thumper suggests and I still became a millionaire, except I did it in my 30's instead of my 70's like this fucking asshole would prefer happen to others

[Anonymous No.55469048]

>>55467716
You are posting on an anonymous basket weaving forum that buys crypto and the like to game the system. Now look back at the dumb shit you just posted and tell me how easy it is to game the credit card system on a basic level. But by all means keep being poor and believing that you are some moralfag or taking the "safe" road of using a debit card or cash is a good thing.

[Anonymous No.55469733]

>>55466548
Credit card users today are comparable to potheads in the like the 70s since everyone is doing it. Based anti credit dependency boomer.

[Anonymous No.55470250]

A couple of weeks after getting a credit card, the world started throwing all sorts of unplanned expenses at me, forcing me into debt.
The only reasonable explanation is a gangstalking/jewish conspiracy.

[Anonymous No.55470259]

>>55466548
Literally got it because I realized most debit cards are jewish as fuck with daily purchase limits, so I couldn't make any of the big purchases I wanted like getting a professional workstation setup, furniture, car, and so on.... Credit cards have no such retarded limits.

[Anonymous No.55470315]

Credit cards are great for covering surprise expenses and covering a liquidity gap in your checking account. This way, I can keep my emergency funds in certificates of deposit that only take a few days maximum to liquidate and cover the CC debt before it accrues any interest. Better interest than checking acct

[Anonymous No.55470661]

>>55467644
>>55467693
>>55468048
https://www.fastcompany.com/90490923/credit-card-companies-are-tracking-shoppers-like-never-before-inside-the-next-phase-of-surveillance-capitalism
https://www.forbes.com/sites/petercohan/2018/07/22/mastercard-amex-and-envestnet-profit-from-400m-business-of-selling-transaction-data/
Gee, I wonder why they're giving you something for "free"

[Anonymous No.55471480]

>>55466935
the only thing it's not good for is getting your existing available credit limits increased, because you don't use it.

[Anonymous No.55471745]

>>55466548
I deposit at offshore sportsbooks with 0% interest cards. Then I will arb (bet both sides) with an onshore sportsbook and either the onshore side will win and I have cash, or the offshore side will win and I can withdraw in BTC.

I make minimum payments, usually get 21 months out of the card, then transfer the balance to another 0% APR card.

[Anonymous No.55472044]

>>55466548
Not a retard. Have autopay set up for full balance at the close of every month and never spend enough for that to ever be an issue. I have 1 main card I use for everything and then a secondary revolving card I milk initial reward points from.

I open up new cards like every other month, get signup rewards for around $250-$500 or whatever, and then literally shred the card so I never use it again afterwords.

If you aren't.a retard you're actually throwing money away if you don't take advantage of shit like this. Get cash back on everything - I don't have a consumer mindset so never buy anything more than essentials anyway unless I'm on vacation or something...

[Anonymous No.55472216]

>>55472044
Are they really even worth it if you only buy bare minimum shit like internet and food. Seems like a unnecessary risk for a non consoomer. How much money are you saving annually

[Anonymous No.55472606]

>>55466593
OP isnt referring to Ramsey, hes referring to whichever anon reads it and can be applied to (hes just writing it as if it was Ramsey who wants you to explain yourself)

btw youre exactly the kind of person who should stick to Ramseys advice so good for you bro

[Anonymous No.55472641]

>>55466548
We live in an era where you can't get a non-McWagie job or business loan without your bank or employer running a credit check. Avoiding credit is like locking yourelf into the lower castes of serfdom to avoid participating in mainstream serfdom.

[Anonymous No.55472814]

>>55467716
>in the meantime you're stuck with the annual fee
Most cards don't have fees these dats except for the really high end ones lol
>and this thing that if you let it get away from you can lead to bankrupcy
Literally just pay it off every month

[Anonymous No.55472827]

>>55472216
>Are they really even worth it if you only buy bare minimum shit like internet and food. Seems like a unnecessary risk for a non consoomer.

Yes. My credit card has 5% back on groceries, gas, and restaurants. That's an automatic 5% discount. It's no risk at all if you aren't a massive retard. And if you are a massive then thanks for paying for the rest of our discounts.

[Anonymous No.55473704]

>>55470661
based and redpilled

[Anonymous No.55474152]

>>55472044
>shred the card so I never use it again afterwords
if you go too long without using it they close the account. doesnt that hurt your score?