YACCT: Amex Clear

[Suspicious-Teach8788]

Originally posted by: vi_edit

Originally posted by: JLGatsby

Originally posted by: DLeRium

Originally posted by: JLGatsby
Credit cards are for suckers. Use them to improve your credit only, not to actually purchase things with.

Right and it's better to use cash?

People who don't use credit cards are the losers. What? You can't control your spending? It takes skill and discipline to manage use with a credit card. If you gave me $300 worth of cash and put me in a mall, I would spend it just as fast as if I had a credit card. Why would you EVER waste time looking for change, writing checks, etc when you have a credit card that earns you cash back?

Grow up. It's technology, get with the program.

Earns you cash back from what? The interest they charge?

Question: Why use a credit card if you already have the money to buy it?

And don't use the "too afraid to carry cash" argument.

My credit card gives me 5% cash back on gas and grocery purchases and 1% back on all others. If I spend $500 a month in groceries and gasoline, I get a check for $25.

If I use my check card or cash or whatever other form I get ZERO back.

I pay my balance off every month. No interest charge to me what so ever.

Yep, I'm a sucker.

Seriously. Agreed. Little kids. "Earn cashback from what?" Do you even know how cashback works? Gatsby, I'm figuring you're one of those people who need low APR cards because you just spend spend spend. My question for you is WHY carry cash when you have like 200x the benefits of using a card? Sure I carry mr $40 around because half the places around here don't take credit card, but if I see the Mastercard or AMEX logo on the door, I will use my card.

:thumbsup: to those with Citi Dividend Platinum Select.
:thumbsup: to those with Amex TrueEarnings from Costco.

 

[Pantoot]

Originally posted by: Nocturnal
How can there be no late fees lol. They HAVE to make money somehow besides the interest.

They do, they charge the merchant that takes the card from you a fee every time you use it. Plus, they are playing the odds that you will miss a payment or charge more than you can afford each month, and fall into their trap.

 

[BigJ]

Originally posted by: Pantoot

Originally posted by: BigJ

-You can build credit much more quickly through usage of cards rather than never charging anything and having a $0 balance for the life of the card.

Who told you that? They will look at the age of the card and the % utilization. How does the historical usage figure into it? As long as the account is current each month, they don't know if you charged $50k or $1.

It's not directly, but your credit card company is more apt to give you higher CLIs when they see you charging and paying off consistently and you're in good standing, which in turn does have an effect of raising your credit because of the ratios. This is as long as you pay off the balances every month.

 

[Nocturnal]

LOL. That's crazy.

 

[mugs]

Originally posted by: JLGatsby

Originally posted by: DLeRium

Originally posted by: JLGatsby
Credit cards are for suckers. Use them to improve your credit only, not to actually purchase things with.

Right and it's better to use cash?

People who don't use credit cards are the losers. What? You can't control your spending? It takes skill and discipline to manage use with a credit card. If you gave me $300 worth of cash and put me in a mall, I would spend it just as fast as if I had a credit card. Why would you EVER waste time looking for change, writing checks, etc when you have a credit card that earns you cash back?

Grow up. It's technology, get with the program.

Earns you cash back from what? The interest they charge?

Question: Why use a credit card if you already have the money to buy it?

And don't use the "too afraid to carry cash" argument.

Meh. I've earned nearly $400 in rewards from my Citi card and haven't paid a dime in interest.

 

[RandomFool]

I'm not a fan of credit cards either. I'm not saying they're useless they do come in handy, I just perfer cash. It's more concrete to me to use cash and say "I spent this much" rather than saying "ok i charged this much and need to pay that off before the end of the month" I like the debit cards cause they give me the ease of a CC and I don't have to worry about bills later on.

 

[mugs]

Originally posted by: RandomFool
I'm not a fan of credit cards either. I'm not saying they're useless they do come in handy, I just perfer cash. It's more concrete to me to use cash and say "I spent this much" rather than saying "ok i charged this much and need to pay that off before the end of the month" I like the debit cards cause they give me the ease of a CC and I don't have to worry about bills later on.

To me, cash makes it more difficult to track where my money is going. I can say I started with a certain amount and ended with a certain amount and therefore I spent the difference (hopefully), but it's not as easy to know where it all went as with my credit card, where I can check all of my transactions online.

 

[EKKC]

Originally posted by: Nocturnal
How can there be no late fees lol. They HAVE to make money somehow besides the interest.

you're allowed paying late ONCE every 12 months, which is fine in my book.

(again most AMEX reps will cancel your late fee if you have great history and take the time to call when you pay late)

and people who cant use credit cards or are afraid have no self control. i paid late like twice in my 10 years of using them, and i've never left a balance for interest to accrue. its stupid people who spend more than they make that are making a profit for CC companies. and in turn, gives us good people the rewards.... its a good system

 

[Azurik]

To a smart financially savvy person, the debate of CASH vs CREDIT CARD is no contest. Credit cards win hands down:

• - Protections on purchases (extended warranty, theft reimbursement, BVG, dispute-friendly).

• - Allows user to earn cash back/rewards for purchases, while cash spending earns NOTHING. I have gotten $23,000+ back in cash back just for using credit cards this year.

• - For businesses, or even personal use - the ability to track spending and categorize them better. Big convenience for end of year tax preparation.

• - Credit history.

• - Carrying one card as supposed to carrying a lot of cash when needed. Less bulkier, more travel friendly, less likely to be stolen, etc.

Each card has their own bonuses and you can take advantage of them accordingly.

For instance, I use my:

AMEX Black Card + Platinum Card = business purchases (better protection, expense reporting, good rewards for high dollar spending
Merrill + Visa = personal use when AMEX is not accepted
Scwab Visa = personal use when AMEX is not accepted
AMEX Blue/Gold/Green = personal use when AMEX is accepted
Discover Platinum = currently taking advantage of their 0% for Life in order to generate interest income

 

[EKKC]

azurik: 23k back? wow you're loaded!

 

[xospec1alk]

Originally posted by: RandomFool
I'm not a fan of credit cards either. I'm not saying they're useless they do come in handy, I just perfer cash. It's more concrete to me to use cash and say "I spent this much" rather than saying "ok i charged this much and need to pay that off before the end of the month" I like the debit cards cause they give me the ease of a CC and I don't have to worry about bills later on.

I have msmoney to handle how much im actually spending...my cc purchases get updates as soon as they're posted, my bank accounts are rite in front of me and i always know how much i can and am able to spend.

 

[Azurik]

Originally posted by: EKKC
azurik: 23k back? wow you're loaded!

I'm just crazy and spend a lot of money😉

 

[DMani]

Go for cash back card OP.

 

[jadinolf]

Originally posted by: JLGatsby
Credit cards are for suckers. Use them to improve your credit only, not to actually purchase things with.

😕

 

[RandomFool]

Originally posted by: xospec1alk

Originally posted by: RandomFool
I'm not a fan of credit cards either. I'm not saying they're useless they do come in handy, I just perfer cash. It's more concrete to me to use cash and say "I spent this much" rather than saying "ok i charged this much and need to pay that off before the end of the month" I like the debit cards cause they give me the ease of a CC and I don't have to worry about bills later on.

I have msmoney to handle how much im actually spending...my cc purchases get updates as soon as they're posted, my bank accounts are rite in front of me and i always know how much i can and am able to spend.

I still use a pad and paper to figure everthing out. 🙁

 

[EKKC]

Originally posted by: Azurik

Originally posted by: EKKC
azurik: 23k back? wow you're loaded!

I'm just crazy and spend a lot of money😉

thats not crazy, i saw your link, nice. my job may pay well enough but now it looks stupid 🙁