**updated** i stopped paying my bills

[sdifox]

I don't give a shit if they raise the interest rate. It doesn't affect someone who PAYS THEIR BILL OFF IN FULL EVERY MONTH!

Why is this so hard for you people to understand??????

They like to use the word Potential a lot

 

[Minerva]

I don't give a shit if they raise the interest rate. It doesn't affect someone who PAYS THEIR BILL OFF IN FULL EVERY MONTH!

Why is this so hard for you people to understand??????

Next step of procedural fucking with customers: changing (or eliminating) grace periods!

 

[moshquerade]

Next step of procedural fucking with customers: changing (or eliminating) grace periods!

until then... credit cards with rewards are giving me free money. right now, no good reason NOT to get paid to use them.

 

[sdifox]

until then... credit cards with rewards are giving me free money. right now, no good reason NOT to get paid to use them.

Let me just put this commercial here to express my sentiment :sneaky:

http://www.youtube.com/watch?v=vRNM9D1bjC4

 

[Svnla]

Discipline has a lot to do with it, agreed.

My wife and I live well inside out limits. If one of us lost our job today, we have no credit card debt that would have to be paid at the end of the month with our savings. We pay our bills as we go, and pay stuff like electric and insurance when we get the bill. That way there is no bill lingering to be paid later on like a credit card.

As for a credit score, I do not play that game. My wife and I pay for everything we can in cash. The new sectional for the living room we bought 2 months ago for $1,300, we paid for in cash.

I am not going to bash you and your lifestyle (paying everything in cash) but I don't think it is fair for you to make blanket statements that CC's are bad either. Like others said, if you pay off the WHOLE balance in full BEFORE the due date, then all are fine, you don't owe anything. No interest, no fee, nothing.

You said you received electricity and insurance bills, you paid them off. I received my CC bill, I pay it off in FULL and BEFORE the due date, just like you, no lingering, nothing.

You paid off $1,300 of the new furniture, good for you but you got nothing. If I paid the same amount with my 2% cashback CC and paid it off BEFORE due date in FULL, then I would got $26. Let see, $26 >>> $0. Not a game, just cold hard cash.

 

[IceBergSLiM]

lulz

 

[nick1985]

Having to keep track of a credit card, when its bill is due, and how much I need to pay is nothing I want to bother with. So what if I make $50 cash back, its not worth the hassle to me.

But there is nothing to keep track of. Automatic bill pay in full every month from my checking account. I don't do a damn thing except collect reward checks.

Zero hassle.

 

[rcpratt]

Arguing with Texashiker about credit cards is worse than responding to SandEagle's troll threads.

edit: Jesus, I cannot type today.

 

[dpodblood]

Arguing about Texashiker about credit cards is worse than responding to SandEagle's troll threads.

This.

 

[Texashiker]

Arguing about Texashiker about credit cards is worse than responding to SandEagle's troll threads.

At least I pay my bills, live within my means and do not draw any state assistance.

 

[HardcoreRobot]

At least I pay my bills, live within my means and do not draw any state assistance.

Like not being able to use credit responsibly, this too is not something to be proud of. This is normal.

 

[nick1985]

Like not being able to use credit responsibly, this too is not something to be proud of. This is normal.

Reminds me of that Chris Rock skit...

 

[Dr. Zaus]

No... no... no... There are not unforeseen dangers like there can be while you are driving down a road. There are no surprises or having to look out for other drivers. There is only you, and if you are responsible and not irresponsible you reap the benefits.

except for unexpected fluctuations in income; such as your car needing 2k in repair or someone getting inured/seriously ill.

If you get into no more debt per month than you could pay off instantly even if you lost half of your income then you're not in any danger at all; otherwise you are only taking a risk if things go very poorly.

 

[Howard]

Reminds me of that Chris Rock skit...

I wonder if posting it is a bannable offense.

 

[SparkyJJO]

except for unexpected fluctuations in income; such as your car needing 2k in repair or someone getting inured/seriously ill.

If you get into no more debt per month than you could pay off instantly even if you lost half of your income then you're not in any danger at all; otherwise you are only taking a risk if things go very poorly.

If I lost half my income, well, I'd also lose half my charges to my CC bill since half of it is gas that is work related

 

[blackangst1]

That's not what Dave Ramsey says. Did you not buy his book?

I'll keep my thoughts on Dave Ramsey mostly to myself, other than he's dead wrong on a number of issues. Regarding this thread, he has been quoted as saying if someone has no debt they have a 0 FICO score. If he doesnt understand the lowest FICO score is 300, he doesnt understand credit scoring and what goes into it.

 

[blackangst1]

Other bennies no one has mentioned in this thread yet (besides cash back rewards)...

If I buy something from a store that has a short return policy (or none at all) and that item is defective or breaks after that time, paying with cash means youre fucked. Youre out that money. Pay with credit card...get refunded 100%.

Extended warrantly on electronic purchases with credit card, none with cash.

Last I checked you cant buy anything online with cash, and if you are stupid enough to use a debit card, you have little protection from fraud.

Discounts on some entertainment events for date night with wifey, or free upgraded seats by using my credit card.

If I ever have to rent a car (which I do on occasion when I travel) pay cash = huge deposit, and extra expense of insurance (most auto policies have some rental coverage, but certainly wont cover you in a major loss). Pay with credit card? No deposit, and insurance in case I accidentally hit a bus full of kids and nuns and run them off a cliff.

On vacation with the fam and need to carry lots of cash? Sucks if you get robbed or lose it doesnt it? With a credit card in either event a new card is overnighted to me wherever I am.

I suppose if all you do is sit at home and your idea of a vacation is a road trip for a week, and your idea of date night with wifey is bowling on Friday night, cash only would work. Otherwise, (Texas, you like to use the word potential alot) youre potentially losing quite a bit of money. But to each their own I guess.

 

[Dr. Zaus]

I'll keep my thoughts on Dave Ramsey mostly to myself, other than he's dead wrong on a number of issues. Regarding this thread, he has been quoted as saying if someone has no debt they have a 0 FICO score. If he doesnt understand the lowest FICO score is 300, he doesnt understand credit scoring and what goes into it.

OR he has no interest in explaining FICO and a score of 0 is the rough/functional equivalent of 300.

Last I checked you cant buy anything online with cash, and if you are stupid enough to use a debit card, you have little protection from fraud.

but if you use a credit/debit card as a credit card then you have protection from fraud; even greater protection if you get one of those visa gift-cards.

The debit card that works as a credit card applies to most of your other examples; if you're using the right bank.


As is apparent; the risk of getting into debt exists, even if 99% of months it never hits you you'll still hit trouble a few times in your life time.

The real problem, though, is that psychologically we feel less pain spending our money when use credit, this leads us to saving less and thus being less wealthy.

 

[Texashiker]

Otherwise, (Texas, you like to use the word potential alot) youre potentially losing quite a bit of money. But to each their own I guess.

Yep, to each their own.

 

[WelshBloke]

I kindof agree Texas here.

I do have a CC and use it occasionally, mainly for internet purchases and using abroad, for the protections built in.

I dont really like them though, they teach you to do everything backwards.

You're supposed to save up for something then buy it, not buy it then spent time paying for it.

Personally I like to owe as little to other people as I can. I don't like dept even if its just for a month, it teaches bad habits.

 

[Wanescotting]

hmmm

 

[SandEagle]

hmmm

why did you bump this? :\ does my financial demise bring some sort of wicked pleasure to you, Wane? if you must know, my minimum payment is now $450 (lol). i'm trying to get them to give me a break. my APR is going to jump to 30% (lol). yeah good luck getting anything then. debt settlement or forebearance (lower APR) and I'll work with them then

 

[AlienCraft]

First, if you are thinking of filing bankruptcy and prior to it loaded up on credit...you are pretty much screwed...in most states they can come in and even sell the magnets on your fridge today especially against opportunists.

That's where I draw the fricking line, MAN! No one gets my fridge Magnets!

 

[Spikesoldier]

until then... credit cards with rewards are giving me free money. right now, no good reason NOT to get paid to use them.

the rewards systematically destroy merchants.

i.e.

bank offers reward of 1% to customer for using card.
customer that paid cash, merchant would get 100% of the purchase.
customer that paid by cc, merchant would get 97% of the purchase.

basically the bank is giving you 1% or 1/3 of their haul to rob the merchant out of 3%.
does nothing but make the banks richer, and the merchants relatively poorer.
the customer obviously wouldnt care, and the banks know it. diabolical system.

 

[arcenite]

the rewards systematically destroy merchants.

i.e.

bank offers reward of 1% to customer for using card.
customer that paid cash, merchant would get 100% of the purchase.
customer that paid by cc, merchant would get 97% of the purchase.

basically the bank is giving you 1% or 1/3 of their haul to rob the merchant out of 3%.
does nothing but make the banks richer, and the merchants relatively poorer.
the customer obviously wouldnt care, and the banks know it. diabolical system.

If you can't beat 'em..