How do you pay your credit card bills?

[moshquerade]

exactly! its not about paying it off every month its the darker side of spending more in general. let me ask you this mosh. on a monthly basis if you paid for EVERYTHING in cash would you spend less, more or the same? stats say if you do not have a credit card you would spend less money per month.

i use it for two reasons, it's convenient. i don't like to go shopping and have oodles of cash on me. i am also leery of using a debit card online. I would rather have the protection of a cc.

also, i honestly like and fully use the cash back option. you charge major purchases, airline tix, hotels, your vacation stuff, on your cc and you really reap the cash back benefits.

do i spend more because i use a credit card? i would have to say no otherwise i would be over budget and I am not.

 

[Tweak155]

exactly! its not about paying it off every month its the darker side of spending more in general. let me ask you this mosh. on a monthly basis if you paid for EVERYTHING in cash would you spend less, more or the same? stats say if you do not have a credit card you would spend less money per month.

Exact same. If I was limited to cash only, I may spend less due to not keeping enough on me.

On the flip side I may always carry extra just so I know I have enough which could cause me to spend more.

 

[moshquerade]

I pay absolutely everything I can with a CC and in the 10 years of so since I got my first one, I've NEVER paid a late fee or an interest charge. If you are good with finances, those 0% cards are free loans. Also you get paid at minimum 1% back.

This is the golden answer. :thumbsup:

 

[Drako]

Dave Ramsey is an ass then. For those of us who pay their CC off every month and earn cash back it is free money.
The only people he should be referring to is those who spend beyond their means and carry CC debt which is an insane waste of money.

Also, my CC alerts to me when there is spending on my card unlike what I have been doing all along. They have picked up on and covered by ass on fraudulent charges before. Will your debit card have that prompt service too?

:thumbsup:

Ramsey is good for people who have no control of themselves when using credit cards. I'm not sure what percentage of the population that is, but he does seem to help some people.

 

[moshquerade]

Exact same. If I was limited to cash only, I may spend less due to not keeping enough on me.

On the flip side I may always carry extra just so I know I have enough which could cause me to spend more.

This would suggest you cannot trust yourself and make impulse buys.

I haggle with buying most anything. I look for the best price, coupons, and anything else to save money. Rarely do I buy something not on sale. I may even have buyer's remorse after all of that. So no, I don't blow money just because I have a handy dandy piece of plastic in my wallet.

 

[Tweak155]

This would suggest you cannot trust yourself and make impulse buys.

I haggle with buying most anything. I look for the best price, coupons, and anything else to save money. Rarely do I buy something not on sale. I may even have buyer's remorse after all of that. So no, I don't blow money just because I have a handy dandy piece of plastic in my wallet.

I'm not saying me personally, I'm pointing out a gap in his theory. You control when money is handed to a vendor, period.

EDIT:

I rarely rarely make an impulsive buy. This is 99% a female issue. They go to a store and find things they "need", whereas most males will think of something they need and go to the store.

 

[Svnla]

mcdonalds installed credit card readers because people are willing to spend more when they're using credit cards. there is something in the psyche that makes people less willing to part with cash, and they don't even think about it with credit.

so, no it's not free money. most people spend more with credit than they would have with cash.

That is why you (not you personally Fenix) have to have a budget for all your spendings. If you overspend month after month, then it is your own fault for lack of controlling your spending habit.

For example: gasoline and grocery expense are up lately so I must lower my other expenses such as eating out/fun stuffs (can't cut other static catergories such as rent) to maintain the same budget balance.

<<--loves his spreadsheet with month to month spending allocations.

 

[jupiter57]

Note - pay my credit card in full every month and have received over $10k in cash back

This, my friend, is pure BS.
Credit Card companies make money on interest, not giving money away.
Common sense tells us that.

Do you buy watermelons for $1.00 & resell them for $.75, expecting to make a profit on volume? (Old joke)

 

[KeithTalent]

That is why you (not you personally Fenix) have to have a budget for all your spendings. If you overspend month after month, then it is your own fault for lack of controlling your spending habit.

<<--loves his spreadsheet with month to month spending allocations.

Yep, I use a spreadsheet for monthly planning and the Spend app for daily/weekly tracking. Works extremely well; I always know where I am at.

KT

 

[Dacalo]

I use linked auto payment for all of CCs. Super convenient and paid off every month.

 

[ElFenix]

That is why you (not you personally Fenix) have to have a budget for all your spendings. If you overspend month after month, then it is your own fault for lack of controlling your spending habit.

<<--loves his spreadsheet with month to month spending allocations.

just because you're on budget doesn't mean you're not spending more than you would have.
there's a lot of evidence that budgets encourage spending extra as long as you're on budget.

"do i really need to get the mcanusdeluxesupersized for $8 or should i dollarmenunaire it?"
***pulls out CC***
"well the budget allows me to get that $8 mcanus"

vs.
"do i really need to get the mcanusdeluxesupersized for $8 or should i dollarmenunaire it?"
***pulls out cash***
"let's dollarmenunaire it"


or even
"do i really need to get the mcanusdeluxesupersized for $8 or should i dollarmenunaire it?"
***pulls out cash***
"on second thought, packing lunch is healthier anyway"

 

[Capt Caveman]

This, my friend, is pure BS.
Credit Card companies make money on interest, not giving money away.
Common sense tells us that.

Do you buy watermelons for $1.00 & resell them for $.75, expecting to make a profit on volume? (Old joke)

LOL. They make money on people that can't control their spending and incur a balance every month, make late payments, etc. They also make money on every transaction(including debit cards).

Like I said, not bullshit. Some folks are smarter and have more self-control than others.

 

[Dacalo]

I'm calling shens on every one of you asshats who say you use a credit card and then pay it off every month with your checking account! (I really doubt that most of you are even old enough to HAVE a Credit Card!)

If you have a checking account, you have a debit card. Why on earth would you put a purchase on a CC, then turn around and take the extra step to pay with your checking account?

Total BS if you ask me. I am sure most, if not all of you, are living on your Credit Cards and paying the minimum amount each month.
Don't spend beyond your means, clowns!
(Use my debit card or cash only.)

Sheese, ATOT multi-millionaires & their spending habits!:biggrin:

It's called cash back and earning points for flights noob.

 

[Tweak155]

This, my friend, is pure BS.
Credit Card companies make money on interest, not giving money away.
Common sense tells us that.

Do you buy watermelons for $1.00 & resell them for $.75, expecting to make a profit on volume? (Old joke)

Not sure if serious. If you are, you're very uninformed. I'll probably make $2k-$3k in cashback this year alone.

CC companies make money when you do the transaction, as well, which is why they offer incentives to keep using their card. Either you'll drown in debt and pay interest or they at least make a portion of the transactions. It is win win for them unless you don't pay them back.

 

[highland145]

I don't. Dumba**es gave me an $18K limit. I've got no hookers or blow left. Let 'em repo my good times.

biotches.

 

[ElFenix]

They also make money on every transaction(including debit cards).

which tend to become larger simply due to the use of plastic

 

[Capt Caveman]

just because you're on budget doesn't mean you're not spending more than you would have.
there's a lot of evidence that budgets encourage spending extra as long as you're on budget.

"do i really need to get the mcanusdeluxesupersized for $8 or should i dollarmenunaire it?"
***pulls out CC***
"well the budget allows me to get that $8 mcanus"

vs.
"do i really need to get the mcanusdeluxesupersized for $8 or should i dollarmenunaire it?"
***pulls out cash***
"let's dollarmenunaire it"


or even
"do i really need to get the mcanusdeluxesupersized for $8 or should i dollarmenunaire it?"
***pulls out cash***
"on second thought, packing lunch is healthier anyway"

If I go to McDonalds, I have $40 in cash in my wallet and my credit card. I'm not going to order more food b/c I have a credit card and I'm not going to spend more than $10 either way.

 

[Svnla]

This, my friend, is pure BS.
Credit Card companies make money on interest, not giving money away.
Common sense tells us that.

Do you buy watermelons for $1.00 & resell them for $.75, expecting to make a profit on volume? (Old joke)

tst, tst, tst......

You forgot that CC companies are making money with the "swipe fees" from the merchants, not just interest. Plus late fees and other stuffs.

 

[Dacalo]

LOL @ people who are afraid of CC's.

CC's in the right hands, who are fiscally disciplined, is a great financial tool for earning some extra cash and perks. I do 95&#37; of my transaction via CC.

 

[Mr. Lennon]

I pay mine online by making a quick transfer from my checking. I don't usually let balances on my CC stay longer than a day and I tend to pay them off asap.

That makes no sense at all. Why not wait until the end of the month like everyone else and pay it off in full? The way you are doing it now is not beneficial to your credit.

 

[Mr. Lennon]

LOL @ people who are afraid of CC's.

CC's in the right hands, who are fiscally disciplined, is a great financial tool for earning some extra cash and perks. I do 95&#37; of my transaction via CC.

A lot of people can't handle the responsibility that comes with using a CC. In those cases I'm glad some people recognize their problem and stay away from credit cards. Unfortunately there are way too many who use credit cards that shouldn't.

 

[Svnla]

just because you're on budget doesn't mean you're not spending more than you would have.
there's a lot of evidence that budgets encourage spending extra as long as you're on budget.

"do i really need to get the mcanusdeluxesupersized for $8 or should i dollarmenunaire it?"
***pulls out CC***
"well the budget allows me to get that $8 mcanus"

vs.
"do i really need to get the mcanusdeluxesupersized for $8 or should i dollarmenunaire it?"
***pulls out cash***
"let's dollarmenunaire it"


or even
"do i really need to get the mcanusdeluxesupersized for $8 or should i dollarmenunaire it?"
***pulls out cash***
"on second thought, packing lunch is healthier anyway"

Like I said, it is up to the individual to control his/her spendings habit. I am not bashing anyone if he or she wants to pay all the bills with cash/debit/check/whatever but I will stick with my self controlled/imposed spendings limit and budget along with my 2&#37; cash back CC.

So far, I am doing pretty well. Great credit score along with all the benefits from the CC company as long as I can control my spendings and remember to pay the CC bill in full BEFORE the due date.

Bring it on, evil CC company 🙂

 

[jupiter57]

not it's actually both, depending on where I am in the world, in denmark it's a debit card but anywhere else it's a visa credit card.

As is my Debit Card. I always use it as Credit.
Visa. All the protection provided by Visa Credit Cards, use it as a Credit Card, buyer protection, etc. but alas, I don't get 1% back. (What, a whopping $200 yr.?! Yes, I pay for nearly everything with it, except monthly bills & I use online banking for that.)
BTW, I have totally FREE checking accounts.

 

[AyashiKaibutsu]

I pay online through my bank account... I haven't written a check in many years and maybe have written 6 checks in my life.

 

[moshquerade]

I'm not saying me personally, I'm pointing out a gap in his theory. You control when money is handed to a vendor, period.

EDIT:

I rarely rarely make an impulsive buy. This is 99% a female issue. They go to a store and find things they "need", whereas most males will think of something they need and go to the store.

Errr... ummm... I am female, and that doesn't describe me.

I actually don't like shopping unless I do need something and can find a bargain.

Plus females do the shopping for the household most of the time so they are more responsible for the shopping. whereas males just shop for themselves.