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

[svivian]

Some of us just live simple lives. My ex wife and children live on payed for land and a house. Newer van , paid for in cash. We don’t buy the new version of an iPhone whenever it drops. We barter with real goods derived from sweat and muscle. I live in logging camps. I drive an old yj. You can poke fun, if ya like, but I wouldn’t trade it. When I need a new saw, I dig out 17bens and go to the stihl shop and get it. I don’t much care to do things any differently. Maybe that makes you smarter than me. But we have different lives driven by different goals and ideals. Old fashioned? Sure.

I completely respect that and completely agree that each person has different goals and ideals. Not one way of thinking or doing something is necessarily right or wrong in this situation.

 

[LoggerDan]

@Customweld - especially when bar oil, mix and gas and crummies are furnished!

 

[Customweld]

@Customweld - especially when bar oil, mix and gas and crummies are furnished!

The landing guys always got all of that stuff. The sawyers were always on their own.

 

[JasonWi]

I’ve been debt free for around 28 months(no mortgage yet, waiting to jump back in), yet I do use my CC monthly to pay my utilities and any NR applications or trips. I know you didn’t want to hear about rewards but I get around $450 in points a year that I’d otherwise not get if I paid cash which I could do.

I never carry a balance, have two full years of emergency fund, and live far below my means as I enjoy having a simple life and don’t need latest and greatest.

 

[Where's Bruce?]

A mortgage would be the only acceptable form of debt as it is an appreciating asset. As long as you buy a house you can afford, which most people won’t do.

Short sighted thinking alert...BEEP BEEP BEEP BEEP!!!!
The APR on your mortgage is lower if your FICO is higher. Credit cards enable you to booast your wealth and all ya gotta do is NOT SPEND MORE THAN YOU CAN PAY AT THE END OF THE MONTH. So...put all your monthly bills on autopay, get 2% cash back and pay off the card(s) before the 1st. Your FICO jumps, you are not adding debt and that home loan cost you tens of thousands or hundred of thousands of dollars less when amortized over the term of the loan.

Credit cards are not a portal to debt Hell...they are a credit building tool. Only YOU can place yourself in debt. The card doesn't authorize purchases, you do. Again, just common sense.

 

[WV Mountaineer]

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 Ramsey guy here. I pretty much live by his principles. Even in my business.

I like it that way because I have no interest in believing I’m going to grow a huge business. I’m looking to invest as much as I can in the next 15 years and call it quits. Low debt is my best option for doing that.

With that said, cc can be a great benefit. As long as you don’t abuse their buying power

 

[wyodan]

Cash anytime I can. I really don't like the gov't or my bank tracking my purchases. Especially now that Paypal is reporting over $600 on stuff I already paid taxes on once.

 

[WVelkhunter]

Serious question for you anti credit card guys....How do you apply for tags? Seems like a raw deal that most states charge 2-3% for applying with a card, but won't give you any other option???

 

[Broomd]

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?

Same...

 

[Customweld]

@Customweld - especially when bar oil, mix and gas and crummies are furnished!

You are spot on with the 17 Bennies on the saw! I bought a 661 last fall, good golly those things got expensive!

 

[LoggerDan]

@Customweld

stillhave to supply your own roll of chain

 

[LoggerDan]

@Customweld ,

hell, they always have been! Then ya got to have it modded.

 

[roadrunner]

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

Believe it or not, some companies run a credit report on you prior to offering a job. If you're a credit risk, there can be an issue with company assets. If you're credit score is low, they don't care how...

Credit card debt is modern day slavery. I have such an aversion to credit card debt that I pay off my credit cards every single month. But, I do love the consumer protections that come with using my credit cards, and, the cash back feature. So in my case, it pays to use my credit cards .

I would say corporate jobs are the modern day slavery. Pay you just enough to get by and never ahead.

 

[ODB]

I’m in the hate debt, use cash, but still uses credit cards camp. I don’t use debit cards as they are linked direct to my account.

A recent event shows how vulnerable we are with any form of plastic…my wife has a card with REI. They just sent us new cards. The cards have different numbers.

They arrived at my house, her card went in her purse and my card went directly to my safe as I never use that card.

Last week my wife sees two charges from MY card at a store - CARD PRESENT for the charges. She calls the capital one to report it. They ask “when was your card stolen.” My wife tells them never, the card is in a safe. Line goes silent.

I can only figure the cards were either scanned in the mail, or before they left the CC company.

 

[CorbLand]

I’m in the hate debt, use cash, but still uses credit cards camp. I don’t use debit cards as they are linked direct to my account.

A recent event shows how vulnerable we are with any form of plastic…my wife has a card with REI. They just sent us new cards. The cards have different numbers.

They arrived at my house, her card went in her purse and my card went directly to my safe as I never use that card.

Last week my wife sees two charges from MY card at a store - CARD PRESENT for the charges. She calls the capital one to report it. They ask “when was your card stolen.” My wife tells them never, the card is in a safe. Line goes silent.

I can only figure the cards were either scanned in the mail, or before they left the CC company.

Most likely what happened is someone got the card information and is changing their card to that.

 

[Reburn]

Believe it or not, some companies run a credit report on you prior to offering a job. If you're a credit risk, there can be an issue with company assets. If you're credit score is low, they don't care how...



I would say corporate jobs are the modern day slavery. Pay you just enough to get by and never ahead.

Good point.
I had forgotten about employers running employee credit prior to job offers.

 

[browning2480]

Short sighted thinking alert...BEEP BEEP BEEP BEEP!!!!
The APR on your mortgage is lower if your FICO is higher. Credit cards enable you to booast your wealth and all ya gotta do is NOT SPEND MORE THAN YOU CAN PAY AT THE END OF THE MONTH. So...put all your monthly bills on autopay, get 2% cash back and pay off the card(s) before the 1st. Your FICO jumps, you are not adding debt and that home loan cost you tens of thousands or hundred of thousands of dollars less when amortized over the term of the loan.

Credit cards are not a portal to debt Hell...they are credit building tool. Only YOU can place yourself in debt. The card doesn't authorize purchases, you do. Again, just common sense.

You will have no problem getting a mortgage with a good healthy down payment and manual underwriting. It is done all the time and the rates are just as low as if you have great credit.

I agree only you can place yourself in debt. Just never seen the need to use credit cards. I do use a debit card all the time. I have the money to buy what I want so no need to use credit.

 

[The Ri Guy]

Cash was king, until easy access to OPM came along. If you have the assets to do so, utilization of OPM is always the smarter move. Not only do you retain your cash assets for longer periods of time, but you can put them to work making you more money if not needed to pay off month-to-month expenses.

Cash is now only king for tax evasion and counterfeiting, hence why it is the sole form of transaction criminals utilize.

BTW mobile payments utilization of one-time transactions codes is significantly more secure than a Credit Card that can easily be skimmed in person or digitally.

At the end of the day if income outpaces expenses, then it's irrelevant what form of payment you utilize or prefer. Being financially responsible is ultimately all that matters.

 

[displacedtexan]

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

Or lower insurance rates...

Sorry you don't have the discipline to pay it off every month.

 

[MuleyFever]

Pay off my card every time a charge shows up. Got almost $20 back on the TIkka I bought Saturday by using my card. Using cards and debt smartly makes you money.