Rickdogg44
RIP Charmander RIP Kobe
AMEX isn't accepted everywhere
plus they say it is good to have like 4-5 cards (not maxed out with balances lol) that way it increases your credit score with your credit to debt ratio
What's your credit card setup like?
- Thread starter winb83
- Start date
plus they say it is good to have like 4-5 cards (not maxed out with balances lol) that way it increases your credit score with your credit to debt ratio
multiple cards are also good because a lot of them rotate categories. for example the discover it and chase freedom cards rotate categories every quarter so you can get a high cashback rate for different items and maximize your return over the year. thats a good combination. and other cards are good for racking up plenty of frequent flyer miles. i havent paid for a flight in 3 years.
if you have a stable job and decent self-discipline there is no reason not to have credit cards and miss out on the rewards. building up your credit rating is always a good thing. and staying on track with payments is easy now with smartphones and auto payments.
Glad to see people on here take advantage of credit card rewards
What's the best ones to apply for
I don't do much grocery or gas shopping
Just eat out a lot i guess
credit cards usually give 2% cashback for restaurants, for the rotating categories you can get 5% in certain quarters
this is the GOAT im trying to get this summer
https://creditcards.chase.com/credit-cards/sapphire-preferred-card.aspx
Toe Jay Simpson
Searchin’
I have 2 cards with 0 balance
Only use one to pay my cell phone bill, otherwise they're for emergencies
Only use one to pay my cell phone bill, otherwise they're for emergencies
R.E.N. Spells Ren
Veteran
Ah, this makes sense. I don't want to be bothered with remember which card is for what type of purchase. For now I use a single card that had the best rewards overall
I'm never carrying a balance tho
illwittdeez
aka Breh Wyatt
1 EBT card....
the artist known az
Hail the victors
I need a card that gives flyer miles 
I use to have this mentality
Credit Cards are a tool just like anything else.
If a person has no self control & is prone to impulsive spending, than I agree they should avoid credit cards.
If a person uses them responsibly, there are a lot of benefits. Purchase protection, cash back, higher credit score, etc
there is not much i can tell you or others breh , but the negatives out weight the positives when it comes to borrowed money , borrowed money is why our economy has tanked , does that apply to 100% of ppl no , but the majority yes
I always take the statement credit because its instant. If I have $60 cash back on a card I go buy a game I want then take the statement credit. I know Chase will mail you a check or deposit it in your account. They were the most flexible. Amex only lets you use cashback in $25 chunks.
If you dont participate in credit, you wont BE able to participate in credit.
So if you dont mind having NO credit score when that job you want pulls your credit file, or never want to buy a house or a car, keep on keepin on.
You can win with credit cards. Credit cards are a tool and if you're responsible and pay your bills on time you get free money back for using them.
Credit cards offer:
Purchase history lookup
Ability to purchase online
Amex gives sync deals like coupons off at retailers ($25 off at Best Buy was one I used)
Cashback rewards
doubles manufacture warranties
Discover offers purchase protection where if you buy something and it goes on sale in so many days they credit you the difference.
If you buy something on day one of your billing cycle and keep current on your balance you can own it for 2 extra months with no payment on it as long as you pay it off on the due date.
Thing is the moment you get a finance charge you lose. If you're responsible its free money for stuff you'll buy anyway. 6% back on my rent annually is over $300 for something I have to pay anyway. Why not take that money back?
You could use the card to purchase something and pay it off instantly with an online payment. you don't have to borrow money to use a credit card. the borrowing part is optional. one could have a policy of if i can't pay the purchase off instantly I don't make the purchase.
I thought the same thing then I did the math.
The preferred card has a $75 annual fee and gives 6% cash back up on the first $6000 you spend at a grocery store annually so $360 total if you hit the cap.
The everyday card has no annual fee but only gives 3% cash back on that $6000 so $180 total if you hit the cap.
if you hit the cap it makes no sense to have the free card because if you subtract the annual fee from the $360 that's still $105 more than the free version gives you. basically the preferred pays its own annual fee. even if you don't hit the cap if you spend more than about $2500 a year at a grocery store its a wash. the everyday will give you $75 back the preferred gives back $150 (subtract the $75 annual fee and you're left with the same $75 the everyday got you).
If you spend more than $48 a week at a grocery store every week for a year the preferred card with the $75 annual fee is your best bet.
I've had several jobs, including a government one now, my credit has not been pulled, I've owned three cars only needed credit for one other two were paid in cash, I have sufficient credit where I won't have a problem getting a house. Haven't owned a credit card in almost 10 years
Lol look I ain't gonna argue with y'all, some ppl in here sound like credit card commercials and hey if it works for them great, am just here for the younger dudes so they don't fall for the trap, credit cards give most ppl a false sense of having extra income and security
But once again the coli brehs are exceptions to real life