Where are my anti-debt/credit card people at?

[long hunter]

Could be.


(Not directed at you browning2480)
I just bought some hockey stuff for the kid and a scope. The hockey stuff was $618.. and the scope was $1728.05. I got 2% back by using the CC. That’s $46.92 back. To me it’s worth it.

What's your interest rate. Wonder if you do the math are you really saving on the 2% back, just asking for a friend.

 

[Billy Goat]

What's your interest rate. Wonder if you do the math are you really saving on the 2% back, just asking for a friend.

Why care what the rate is?


The higher rate cards generally have better rewards.

 

[HuntHarder]

What's your interest rate. Wonder if you do the math are you really saving on the 2% back, just asking for a friend.

Tell your friend some of us never pay interest rates..

 

[dirtytough]

What's your interest rate. Wonder if you do the math are you really saving on the 2% back, just asking for a friend.

I always pay the card off so I don’t pay interest. I couldn’t even guess what it is?

Reading some of these responses makes me think people don’t understand how CC’s actually work.

 

[CorbLand]

I always pay the card off so I don’t pay interest. I couldn’t even guess what it is?

Reading some of these responses makes me think people don’t understand how CC’s actually work.

There a few that make me wonder that too.

When I bought my wife’s ring they offered 12 month interest free financing. I had the money to pay for it but I took that option, held my money, used it to make me more money and then paid it off before the end. Cost me nothing to do so.

 

[MattB]

Perhaps the number of RS'ers responding to this thread is similar to the millionaires that respond to a random questionnaire.

Unless you show your methodology, I refuse to believe it.

 

[Pharmseller]

Credit cards in the wrong hands is a sure trip to financial ruin.

Credit cards in the correct hands is a 30-day loan with rewards.

And convenient.




P

 

[Dgregory]

CC’s CAN be terrible if mishandled, but they can also be very powerful tools if you understand how they work. Do some homework and use them responsibly and they’re great.

Plus, how do you expect to apply for tags and accrue points in 4-6 different states without using credit cards? You’d have to front a few thousand dollars at a time depending which states you apply in.

 

[dirtytough]

CC’s CAN be terrible if mishandled, but they can also be very powerful tools if you understand how they work. Do some homework and use them responsibly and they’re great.

Plus, how do you expect to apply for tags and accrue points in 4-6 different states without using credit cards? You’d have to front a few thousand dollars at a time depending which states you apply in.

Sounds just like a firearm.

We have $18K+ out when I apply the family for NM. We pay it off and then get a credit when we don't draw. If we don't have the money to pay for it we don't put it on a CC.

 

[TN2shot07]

There a few that make me wonder that too.

When I bought my wife’s ring they offered 12 month interest free financing. I had the money to pay for it but I took that option, held my money, used it to make me more money and then paid it off before the end. Cost me nothing to do so.

This is a fair point at first glance but there’s always a cost.

When I bought my wife’s ring two years ago I walked in with cash and walked out with the ring $1,500 below what they had it listed at.

My brother in law bought his at the same place, used their interest free financing, and paid retail.

 

[CorbLand]

This is a fair point at first glance but there’s always a cost.

When I bought my wife’s ring two years ago I walked in with cash and walked out with the ring $1,500 below what they had it listed at.

My brother in law bought his at the same place, used their interest free financing, and paid retail.

Yea, I also got a discount on my wifes ring.

I wouldn’t say that it is the norm to get a discount like that.

 

[robby denning]

This is a fair point at first glance but there’s always a cost.

When I bought my wife’s ring two years ago I walked in with cash and walked out with the ring $1,500 below what they had it listed at.

My brother in law bought his at the same place, used their interest free financing, and paid retail.

I agree but with car dealerships I’ve had little leverage with cash. They want to finance and make the interest and it shows in how little the 3-4 places I’ve worked with cared that I could pay cash.

 

[fwafwow]

I agree but with car dealerships I’ve had little leverage with cash. They want to finance and make the interest and it shows in how little the 3-4 places I’ve worked with cared that I could pay cash.

Good point. I read some years ago that to get the best deal on a car, you should at least imply that you are going to finance, and perhaps even hint you might get some of the special add-on's. Then at the final moment (after the purchase price has been negotiated) you pay instead of finance and pass on the extended warranties, etc. IIRC, I also think that you could follow-through on the financing, and some of the add-ons, then pay off the financing the next day and cancel the add-ons within the permitted time to do so.

 

[browning2480]

I agree but with car dealerships I’ve had little leverage with cash. They want to finance and make the interest and it shows in how little the 3-4 places I’ve worked with cared that I could pay cash.

Yes the days are over when you used to get a good deal paying cash. The money dealerships make now on the finance side has shifted them. Which is case in point to this whole conversation. Yes some people are able to borrow money and pay little interest and carry debt, but that is a small minority. Even that small percentage can quickly find themselves in trouble when things don’t go as planned. The risk is always there with debt and needs to be factored in.

 

[TN2shot07]

I agree but with car dealerships I’ve had little leverage with cash. They want to finance and make the interest and it shows in how little the 3-4 places I’ve worked with cared that I could pay cash.

It’s definitely different with car dealers, I’ve been in and around that business my whole life. There is usually some additional negotiating power if you let them finance it. Depending on the finance charge sometimes you come out ahead paying cash for it anyway and sometimes you should just finance and pay it off early, it’s never just the interest you’re paying. I’ve also never bought/owned a new vehicle but cash for sure isn’t gonna help if that’s what someone is buying.

One plus for cash is it maintains your budget, there are some good salespeople out there and make that upgrade seem well worth it.

Cash does still hold some sway if you find an individual selling what you want.

 

[Billinsd]

Only reason you need a credit score is to take on more debt lol

Taking on more debt lowers your credit score. They are inversely proportional. My credit score is in the 800s. I have no credit card debt. I spent tens of thousands with my citibank card and paid off every month and got a thousand dollars back and raised my credit score.

 

[Billinsd]

I always pay the card off so I don’t pay interest. I couldn’t even guess what it is?

Reading some of these responses makes me think people don’t understand how CC’s actually work.

Absolutely, and scared of what they don't understand.

 

[Happy Antelope]

I saw a post about the "best credit cards", credit cards make me want to vomit so I thought I would make a thread seeing who else has an aversion to debt and specifically credit cards?

Edited to add I have a debit card because many of you think I meant actual cash all the time. I’m not a total caveman.

Do not comment about your credit card rewards, debt arbitrage, or whatever. This is for my cash slinging friends only.




Oh and yes, I am a pretty big Dave Ramsey fan.

Credit cards are only debt if you don't pay them off, and not using credit cards is paying more money on every purchase.

 

[Dgregory]

Sounds just like a firearm.

We have $18K+ out when I apply the family for NM. We pay it off and then get a credit when we don't draw. If we don't have the money to pay for it we don't put it on a CC.

The difference is that you sound like you're only putting in for units that you're trying to draw. I'm trying to draw a couple of hunts per year and the rest are just there to build points in other states. I know for a fact that I'm getting those funds back because I'm applying for units that take 15-20 points to draw. If I luck into it then I take on an extra hunt or I back out of another one.

 

[dirtytough]

The difference is that you sound like you're only putting in for units that you're trying to draw. I'm trying to draw a couple of hunts per year and the rest are just there to build points in other states. I know for a fact that I'm getting those funds back because I'm applying for units that take 15-20 points to draw. If I luck into it then I take on an extra hunt or I back out of another one.

Actually no. There aren’t any points in NM. And when there is 1 tag and 1000 apps for that tag I don’t expect to draw. I expect every penny back from NM except for the license and app fees. I’m not going to go down there for an opportunity hunt. I’ll go there for a trophy hunt though.

I applied for 66 tags one year not counting the wife and kid. I drew 1 tag.

I know I’m getting most of the money back from places like NM and WY. I’m not going to spend money on interest though if I don’t have to. If I have to pay interest, I won’t buy whatever it is I can’t pay for.