Red pill me in credit cards. I have one but it is pretty basic. I want to open more accounts and want to reap the benefits.
CREDIT CARDS
get one that gives you 1.5%-2% money back every month.
Don't be a nigger (pay your bill every month to avoid interest and also to build credit)
Literally free money
If done right credit cards kick ass and can help you.
I thought I read one time that paying it off every month is counter intuitive to building credit, idk though.
No it builds credit because it shows that you are responsible and pay off your debt.
It makes the credit card company some serious jew money if you don't (20%+ interest)
Why don’t they hand out more good boy points for things that make them money? ie paying the minimum
You'd be very misinformed if you think credit cards are a good idea. Your efforts would be better spent actually generating income, not saving your measly trash 2% cash back. It's a matter of time and energy.
On top of all of that, the credit card is a carrot on a string. As is a paycheck, as is retirement. Yeah, you might get 2% cash back, but say your expenses are cetus parabim for 10 months straight, that's 20% back (not including TVM), all it takes is one month to lose it all. Banks know this and it's also an issue of behaviors as well. It incentivizes many people to spend for "muh rewards" whereas really it's not nearly as rewarding as spending your time end efforts educating yourself on how to generate more income, or actually generating more income.
There's a certain degree of risk with every business relationship, and there SHOULD be a certain degree of reward with it too. The one for credit cards is that it just isn't worth it. It encourages consumerism and over expenditure, which hurts your bottom line. Cool you got a $500 dollar cash back bonus for one year. There's still a risk of keeping it. Remember, risk vs reward.
>Your efforts would be better spent actually generating income, not saving your measly trash 2% cash back. It's a matter of time and energy.
Nigger what energy does it take to use a credit card? It's quite literally the most passive way to save money besides not spending any at all.
Good Goy points are there to let them know how much debt you can handle. It's a long game to get you into larger and larger amounts of debt over the course of your life. They make more money off the 30 year mortgage @3.5% then they do off your $500 credit line at @21.99%
Risk vs reward your relationships.
Why would I want to even do business with someone that wants to take advantage of me?
Pride comes before fall. Almost always the same NPC responses from you 'pro credit card' goyim.
what this guy said
that being said if you're the type of person to overspend and be impulsive then stay tf away from credit cards they weren't meant for you
stick to cash back only I've seen too many people play the airline/hotel rewards game and overspend to get flights they could have afforded anyway
No, this is a myth perpetuated by financially illiterate retards. Credit scores measure creditworthiness. How is the ability to pay your debts a detriment to creditworthiness? That's fucking stupid.
Things like utilization ratios, length of history, etc. matter.
Because they're measuring creditworthiness, not how much money you make them.
>You'd be very misinformed if you think credit cards are a good idea. Your efforts would be better spent actually generating income, not saving your measly trash 2% cash back. It's a matter of time and energy.
Your post is trash because nowhere does it explain why making 2% cash back takes effort. How is keeping up with inflation (financially speaking it's not really a profit) not a good idea again? Fuck off, downie.
>Risk vs reward your relationships.
So it takes you energy to not be a risk-seeking retard? lol - you deserve to fail.
>Why would I want to even do business with someone that wants to take advantage of me?
It wants to take advantage of people stupid people who deserve it like you.
Bank of America Cash Back Rewards,
3% on dining, easy 50+ bucks alone from that
You gotta reap debt
You've got to reap inconsequential debt if you use it like it's coming straight out of your chequing account. You're retarded.
Any money you get back is nothing compared to savings of simply making food yourself.
Lmfao did your mother drop you off a fucking cliff as a baby? Damn you’re retarded
>None of you will ever have the coveted limitless cash back rewards card from USAA with 2.5% back on every purchase.
I just pay for everything with the card and pay it off at the end of the month. I never buy more than I can afford. The only thing I'll ever allow myself to incur debt on is a mortgage.
Listen to this user. Also some extra benis:
If they offer 0% interest and you’re not a stupid nigger. You can keep the money you would have spent to pay on time to collect interest in a high yield savings account.
I'm new to credit cards. Is this what i'm supposed to do.
I'm spending less than 30% of my credit line each month and paying it off full early. I read that this increases your credit score.
>I'm spending less than 30% of my credit line each month and paying it off full early. I read that this increases your credit score.
You can even do like 50% utilization ratio - won't matter.
Do NOT pay it off early or it will read it like 0% utilization. The credit card companies will send their statements to bureaus after actual billing periods. Pay in full after you're billed and before the payment due date.
I have USAA and I've never heard of this card wtf
They've discontinued it years ago. Only catch to the card is you have to have at least $1000 direct deposit into a USAA checking account per month. So basically have any job and set up direct deposit. If you don't make the $1000 deposit for a month then it temporarily reverts to 1.5% cash back until you are able to deposit $1000 monthly again.
>No annual fees
>mid tier APR
Its the greatest credit card ever that is not for super rich people.
damn dude I have the 1.5% card (it's great) but I would definitely qualify and take advantage of that one
>talks about how time is money
>advocates cooking for yourself
Can you stick to one thing dickhead?
Get a cashback for grocery then
This card has 0 annual fee and 3% rotating categories including gas, online shopping, dining, travel, drug stores, or home improvement/furnishings
You get the point, the best card hands down
meh i wouldn't do it. I'm up to 30 grand in credit card debt after using it for expenses temporarily to leverage my cash for some investments... now with the rona i'm totally fucked. what should i do bros? i've stopped paying them as of last month. is it worth bankruptcy? what is my best move
Just flip ones that have frequent flyer points bonuses, literally free money
>what is my best move
To go back in time and not be a colossal retard
Let's say you spend $20k/ year. That's $400/ year in savings for 5 minutes of "work". How the is that not worth the effort??
As this user said, it's literally free money as long as you are good with money. If you're a retard who has no impulse control and/ or can't budget your money then credit cards aren't for you. But I assume most people on a finance board aren't like that.
>implying I didn't spend the first 14 months of my credit card abusing the lack of APR, racking up a massive debt, paying like 75% of it off to get a good credit score, then just ignoring the rest because I can take the credit hit.
Here's the red pill:
Non-credit card users subsidize credit card users.
Stores that accept cards just raise their prices, often by 1-2%.
If you don't use a CC at a store that accepts them, you're a cuck.