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

[Bachto]

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.

 

[browning2480]

Same here. Cash is king and love Dave Ramsey. Get ready for the debt wolves to come at you lol

 

[5MilesBack]

I definitely have an aversion to CC debt. I've never paid any interest on a CC since the first day I got a CC back in the 80's in college. I do tend to use cash for most local low dollar things, but pretty difficult to buy stuff online without a CC. My dad was CC free for decades, but when they made it impossible to rent a car on trips without a CC.......he caved and got one.

 

[TN2shot07]

We are few and far between, I’ll happily deal with a wad of Benjamins over a piece of plastic. Once we get rid of that house payment we’ll be in business

 

[NeedleCrook]

Forgive me for the post, I know this is not what you’re after. Im aware of Dave Ramsey and have heard great things about his program and getting families out of debt.

I have credit cards, both for my business and personal. I treat it like a debit card in that I pay them off every month. In doing so were able to collext a lot of points to pay for a lot of flights and vacations.

i never understood the reasoning for paying cash. Other than the fear of not paying off and then ending up in substantial debt?

 

[Tod osier]

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?

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.

Huge credit card fan - yet opposed to credit card debt.

 

[SuperDUECE22]

Cash is king in my house but i don't know anything about dave ramsey

 

[Reburn]

Its real hard to get your credit score over 750 without a credit card.

 

[LoggerDan]

Cash. Because 100 dollars in paper form stays 100 dollars. I do use a debit card here and there. No clue about this Ramsey guy.

 

[browning2480]

Its real hard to get your credit score over 750 without a credit card.

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

 

[307]

Cash. Because 100 dollars in paper form stays 100 dollars. I do use a debit card here and there. No clue about this Ramsey guy.

Inflation would disagree with your analysis. Last year's $100 bill has $85 worth or purchasing power...

 

[robby denning]

quit credit in 2008 and so glad I did.

Zero debt and investing and living in a paid for house. It works and I sleep well.

My boss is a big debt guy and I can't argue with him that he's amassed some considerable wealth that way, but a lot of sleepless nights too

 

[ProStaffSteve]

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?

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.

Lost respect for Dave Ramsey when he told people to pay off student loans even when interest rates on the student loans were 0%. The guy is a sham, but Roth IRAs are still the move

 

[Where's Bruce?]

You cannot get 2% cash back from cash. Pay cards off monthly and you're not paying interest. In this regard, cash is second to credit in terms of debt. It's just common sense.

 

[browning2480]

Lost respect for Dave Ramsey when he told people to pay off student loans even when interest rates on the student loans were 0%. The guy is a sham, but Roth IRAs are still the move

Really? It’s better to wait and pay off your debt when you are paying interest? Lol ok

 

[Reburn]

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

Yep
Like to buy a house, or property or a car.

 

[SWFLhntr]

I have aversion to debt also. Which is why I pay my credit cards off every month

 

[browning2480]

Yep
Like to buy a house, or property or a car.

Ok gotcha. To go take on more debt makes sense lol

 

[ProStaffSteve]

Really? It’s better to wait and pay off your debt when you are paying interest? Lol ok

Totally! I can pay it back in full whenever rates turn on. But as you said in the post cash is king right now! I’d rather have money in the bank than the check mark with my federal lender saying that I am a good boy. I see what you mean, if you’re pay-check to pay-check maybe that’s a different story but even then you can pay it off when it’s impacting your life.

 

[307]

Ok gotcha. To go take on more debt makes sense lol

And generate wealth via appreciating assets and the tax benefits of said "debt".