| Why I believe you should always use credit cards- not cash |
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xblue4
New Member
Cash: $ 0.80
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Joined: 26 Feb 2005
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I've always used credit cards for cash back and the float with an interest bearing checking account. With the recent changes in the check processing, no float there.
I hate debit cards. You don't get the financial protection a credit card offers and there is absolutely no float. It's a retailers dream come true! Rewards or no reward, a credit card is a superior product in my opinion. I should add as long as you pay off the monthly balance.
xblue4
http://www.mybiweeklymortgagepayment.com
http://www.mybigfatmortgage.net
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Fri Mar 04, 2005 6:43 am |
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jredlitz
New Member
Cash: $ 0.85
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Joined: 24 Mar 2005
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I say uses credit cards...for example i have a discover gas card and earn 5% back on all my gas purchases. My cashback bonus can be used to double my reward in gift certificates at certain companies. I almost have enough for a free 20gb ipod. So I say with disipline, CC is the way to go.
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Thu Mar 24, 2005 2:54 am |
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stonegatherer
Contributing Member
Cash: $ 7.10
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Joined: 25 Mar 2005
Location: Chicago
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quote:
Originally posted by walmsley
What about using a debit card, instead of a credit card, do they have such rewards for debit cards for those with difficulty managing credit cards?
Charter One bank does, (I don't use) $40 a year, I think.
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Fri Mar 25, 2005 7:19 am |
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Rolo
Yo' Daddy
Cash: $ 309.70
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Joined: 13 Mar 2005
Location: Colorado/Florida
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how funny, I just mentioned this in another thread: CC companies skim 1.5%-3.75% off of EVERY transaction. Finance charges are just gravy. Hence, the incentives to get people to use their card.
If one does not have discipline with his CC, then he probably lacks discipline with money in its entirety and should be addressed. Paradoxically, a CC can be used to enforce discipline: easier tracking of spending. Quicken tells me exactly how much I spent at any given time, so I know how much is due when the bill arrives. There is no such mechanism with cash since you only know what you HAVE, not what you spent.
If you have a dispute over a purchase with cash, you are pretty much on your own, SOL. If you have a dispute with a CC purchase, you can sic a big friggin' bank onto the merchant. This is in addition to the warranty programs CC's offer.
Obtaining cash is a pain in the butt. I certainly hope you guys don't pay ATM fees...or any other fee for that matter. I refuse to pay fees for anything. I don't even like to have to buy stamps, and therefore rarely do. Yes, I see postage as a fee of sorts. In fact, every time I buy my six stamps, the price is different...to give you an idea of how often I mail crap. Basically, if it is not on my computer, I don't want to have to putz with it. I also shoot for anything automated.
I'll finish my little tirade with this release of my angst: STOP WRITING CHECKS AT THE STORES PEOPLE....HOLY FRIGGIN' COW MANURE...GET WITH THE 21ST CENTURY! Extra slappage to those who do it in the EXPRESS LANE.
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Fri Mar 25, 2005 8:33 pm |
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