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

[ODB]

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

Right - but from where? understand - this card has NEVER been used by me. It was in the envelope, then in my safe. I never used it in person or online. Never took it out of the house. In fact, for as long as my wife has had that account (like 20+ years) I have NEVER bought anything on that card.

Maybe CC companies should send cards in RFID envelopes.

 

[displacedtexan]

Good advice. I've seen it the other way also, lots of small towns close up shop early and no way to get fuel without a card.

Exactly why I like having both options!

 

[ODB]

There would be a lot of people better off if financial literacy was actually taught in public schools. I not going to let my kids learn it all on the fly like I had to.

Correct. We got my kid a credit card to help her build credit and get the idea of how it works. She does the bills with us, pays her own car insurance, has a job, and at just 17 is doing well. It blows me away that basic financial literacy isn't a requirement... if I had my way...

 

[CorbLand]

Right - but from where? understand - this card has NEVER been used by me. It was in the envelope, then in my safe. I never used it in person or online. Never took it out of the house. In fact, for as long as my wife has had that account (like 20+ years) I have NEVER bought anything on that card.

Maybe CC companies should send cards in RFID envelopes.

From where is the mystery.

 

[BravoNovember]

The fraud protection on a debit card is significantly less then a credit card.

This is exactly why we went all credit card and pay off each month. Fraud hit our account twice and the head ache of getting our money back is far greater than the credit used that gets paid without interest.

 

[Curmudgeon]

Have you ever sold something for a cash price and they want to write you a check? I tell them that cash is some sort of arrangement of Benjamins and/or dead presidents on paper currency. They don't get it.

 

[Customweld]

Right - but from where? understand - this card has NEVER been used by me. It was in the envelope, then in my safe. I never used it in person or online. Never took it out of the house. In fact, for as long as my wife has had that account (like 20+ years) I have NEVER bought anything on that card.

Maybe CC companies should send cards in RFID envelopes.

I think we are naïve to think that someone making a little above minimum wage, working in call centers or card manufacturers aren’t skimming numbers on occasion.

 

[roadrunner]

There would be a lot of people better off if financial literacy was actually taught in public schools. I not going to let my kids learn it all on the fly like I had to.

The housing market crash is the evidence that many young adults didn't and don't have a firm grasp of financial literacy and many countries around the world are recognizing that.

 

[displacedtexan]

Have you ever sold something for a cash price and they want to write you a check? I tell them that cash is some sort of arrangement of Benjamins and/or dead presidents on paper currency. They don't get it.

If they want to try and explain to me how easily what they want to give me can be converted to cash... They can go convert it to cash.

 

[MattB]

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

My corporate job paid me just enough for me to allow me to retire at 51.

 

[MattB]

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.

When you use a credit card, it is the bank's money. When you use a debit card, it is your money. Unless you have a segregated account for debit purchases (where you hopefuly keep a balance just large enough to cover purchases), you are putting your entire balance at risk of fraud. If a fraudster drains your account, your bank doesn't promptly reimburse you, and you don't have a plan B, how would you pay your mortgage, rent, insurance, etc.?

Using a debit card sounds like a great way to place yourself into debt.

 

[SummitsCalling]

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.

One of the massive misconceptions that the older generation or those that don't know is those who use credit cards to the extinct of churning don't carry any balance and pay off before the statement date.

There's two dates, statement date and due date.

Then there's debt, debt is good. Making money via debt is how America operates. Good debt vs bad debt.

 

[dlee56]

Probably been said before but credit cards are only as dumb as you are. If you use credit and pay it off before the statement is due then you're only positive the rewards.

If you carry a balance aka don't pay off your statement when it's due then ya you're dumb and wasting you money.

I use them for everything, balance my budget so I don't overspend (ironically with the Ramsey budget app), pay them off before the due date, and reap the rewards. I got over $1000 in cash back, last year. Not sure why that's a bad idea.

Plus as it's been said above if someone steals my credit card number and runs up a bunch of fraud charges I can call the bank and they'll cancel it all, no skin off my back. If someone steals your debit card numbers then that's your cash they're stealing.

 

[Rich M]

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???

Aside from building and maintaining credit scores, this was the first thing i thought out.

How do you buy an online hunt tag without a credit card?

 

[ladogg411]

Using a credit card to make money is not the same thing as being in debt. If you don't understand that - yes, don't use them.

I'm not sure how I would apply in WY and NM without credit cards.

 

[Thess87]

Just read this whole thread lol there’s some good ones in there. I grew up on Ramsey principles. Not saying there’s not other ways to skin a cat but they have served me very well up till now at 35. I carry some cash and use a debit card.

 

[GSPHUNTER]

It seems to me we are slowly becoming a cashless society. I have actually been told on a very few occasions, we do not accept cash. Then again, I have been told, cash only. I think the cashless side will eventually win out. Until then, I will use both. How do you cash only guys purchase anything on line? As far as I know CC are the only option you have.

 

[Nick992]

I was Dave-ish for the longest time. I had a credit card with good rewards that I paid off every month.

I finally cut them up after being reminded where those rewards dollars were coming from.
-Single mom's who hold a balance on their CC, etc.
-Companies that borrow money to deforest the Amazon or rape the earth in some other fashion, etc.

You may pay off your card every day, but your free money is hurting people and places. You may not personally be enslaved to debt, but you are continuing the normalization of a system that devours people.

Chase, Citi, Capital One, discover: all of these don't care about the environment. They may have some PR, but ultimately they back companies who deforest. Companies who would not be able to deforest of they didn't have a loan.
How big of a conservationalist are you?

At the time, I tried to find a 'green' credit card, but they were all prepaid junk. Maybe there are more options now, I'm happy to be wrong. I don't think we can take down the system of debt, but a move to 'responsible' debt could be possible.

 

[Nick992]

It seems to me we are slowly becoming a cashless society. I have actually been told on a very few occasions, we do not accept cash. Then again, I have been told, cash only. I think the cashless side will eventually win out. Until then, I will use both. How do you cash only guys purchase anything on line? As far as I know CC are the only option you have.

Debit card

Though recently, I've been using PayPal connected to a bank when it's an option because my card number gets stolen like twice a year

 

[browning2480]

When you use a credit card, it is the bank's money,. When you use a debit card, it is your money. Unless you have a segregated account for debit purchases (where you hopefuly keep a balance just large enough to cover purchases), you are putting your entire balance at risk of fraud. If a fraudster drains your account, your bank doesn't promptly reimburse you, and you don't have a plan B, how would you pay your mortgage, rent, insurance, etc.?

Using a debit card sounds like a great way to place yourself into debt.

I have had my debit card be compromised a few times over the years. A quick call to the bank and my money was back in an hour. That is why I choose to bank where I do and am not afraid of using my debit card.

Not to mention that I have six months of expenses saved in a savings account for an emergency. I can transfer it all over in a click of a button. I believe I will be alright without a credit card and don’t think I will go in debt because someone defrauded my debit card.