Anonymous wrote:

Anonymous wrote:I don't understand why this would be an issue - how would you not pay it off every month if you were already making those purchases in cash or debit? We put everything on credit cards and I even make multiple payments throughout the month. Just treat it like a debit card, I truly don't understand how people who were otherwise decently managing their finances just lose all ability to spend within their limits when it's a credit card.

You seriously are unaware of the millions of Americans with credit card debt? Most of those people are NOT "decently managing their finances." Enjoy life in your bubble!

PP here. That's not what I said - clearly I understand how people can get into credit card debt, those are not the people I'm talking about. What I don't understand are folks who ARE managing their finances well, by virtue of the fact that they're only using cash/debit (so they're only buying what they have money for), being scared of credit cards. If you're using a debit card already, what's the difference? You'll just suddenly lose all will power and max it out? If you keep your spending habits the same, paying at the end of the month vs. as you go doesn't matter. Also, nothing stops you from paying off your credit card every single day if you wanted to. It's just crazy to me that otherwise well functioning adults choose to ignore the benefits of credit cards and leave money on the table.

For those of you that afraid of buying everything with a credit card and not having the money when the bill comes in, this is what I do.

I have a regular check book register and keep a running balance just like a regular check book. Instead of writing down check #1354 or what ever, I simply write down a Visa, the name of the business along with the charge amount. On the far right I simply keep a running balance. Once my bill arrives the money is already set aside. Easy and I just do it when I get a handful of credit card recipes.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We pay everything with credit cards. How else do you pay for things?

Some use debit cards or checks. I'm one of them.

Why do you do this? Do you have a poor credit history or other?

No. I'm just old school. That's about to change though after reading this post.

I think that is a good choice. There are websites that grade/evaluate credit cards for miles or cash back. You would be wise to pick one and go with it. Don't dilute. And always pay off the balance monthly. It probably won't change your life but one of the benefits mentioned up thread is the ability to track you're spending in one place.

Not to mention debit cards don’t offer fraud protection like credit cards do and checks take forever to write out and hold up the line!

This is a good thread without all the snark. Thanks everyone.

Anonymous wrote:

Anonymous wrote:We make about $200 a month using our Citi Double Cash Back card. I just move the cash reward over to pay down the balance. It's free money. We pay the balance in full every month.

FYI, if you use the DC, pick the option to have the cash rewards deposited into your bank account and make the payment instead. Directly applying the rewards to your card balance won't give you the 1% back on payments.

I had no idea! Thank you!

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We pay everything with credit cards. How else do you pay for things?

Some use debit cards or checks. I'm one of them.

Why do you do this? Do you have a poor credit history or other?

No. I'm just old school. That's about to change though after reading this post.

I think that is a good choice. There are websites that grade/evaluate credit cards for miles or cash back. You would be wise to pick one and go with it. Don't dilute. And always pay off the balance monthly. It probably won't change your life but one of the benefits mentioned up thread is the ability to track you're spending in one place.

This is a good place to start: https://thepointsguy.com/

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We pay everything with credit cards. How else do you pay for things?

Some use debit cards or checks. I'm one of them.

Why do you do this? Do you have a poor credit history or other?

No. I'm just old school. That's about to change though after reading this post.

I think that is a good choice. There are websites that grade/evaluate credit cards for miles or cash back. You would be wise to pick one and go with it. Don't dilute. And always pay off the balance monthly. It probably won't change your life but one of the benefits mentioned up thread is the ability to track you're spending in one place.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We pay everything with credit cards. How else do you pay for things?

Some use debit cards or checks. I'm one of them.

Why do you do this? Do you have a poor credit history or other?

No. I'm just old school. That's about to change though after reading this post.

Anonymous wrote:

Anonymous wrote:We pay everything with credit cards. How else do you pay for things?

I also don’t get this post or why the OPs posts seem like this is the first time they’ve heard of credit cards.

Could be. But apparently a lot of people understand the post just fine.

Anonymous wrote:

Anonymous wrote:We pay everything with credit cards. How else do you pay for things?

Some use debit cards or checks. I'm one of them.

Why do you do this? Do you have a poor credit history or other?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here. I hear the hey is you have to pay it off monthly and can't carry a balance. Otherwise, there's no benefit.

YES. Don't overlook this, OP. The interest rate is much higher than any rewards rate. So if you can't pay it off every month, don't do it.

+1 I get 3% cash back. It adds up, but I pay off the balance in full every month.

What card gives 3% cash back?

Alliant Credit Union. 3% the first year, 2.5% thereafter.

....but with an annual fee of $59 (waived the first year)

Yup. Waived the first year. But we charge nearly all our expenses and I've gotten close to 3000$ cash back this year, so even if I pay the annual fee next year, it's still better for high earners/spenders than the other cash back credit cards in the market.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here. I hear the hey is you have to pay it off monthly and can't carry a balance. Otherwise, there's no benefit.

YES. Don't overlook this, OP. The interest rate is much higher than any rewards rate. So if you can't pay it off every month, don't do it.

+1 I get 3% cash back. It adds up, but I pay off the balance in full every month.

What card gives 3% cash back?

Alliant Credit Union. 3% the first year, 2.5% thereafter.

....but with an annual fee of $59 (waived the first year)

Anonymous wrote:We pay everything with credit cards. How else do you pay for things?

Some use debit cards or checks. I'm one of them.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I even use CC for car down payment once. Dealer did not like it but he wanted the sale.

I wonder why he didn't like it. Money is money.

Because he had to pay the CC company. Cash is cash. Credit cards charge fees.

Makes sense

Anonymous wrote:^^sorry - I meant I don’t get this thread. I concur with the post I responded to. How else do you pay for things, OP? Big wads of cash?

A lot of people use their debit cards or straight up cash only (mostly old people). I know the young college grads I work with just use their debit cards for everything.