What's your credit card setup like?

[newarkhiphop]

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.

All those these things i bolded you can do with a regular debit card, and if you can pay something off instantly, why not just buy it instantly with your own money?

That just how i roll , the majority of Americans are not that responsible, but Ill let yall ride this wave, a lot of good info being dropped for those that do have a need to use credit cards i gues

 

[winb83]

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

the beauty of the trap is it works both ways. they offer all these benefits to trap you. they want you to be irresponsible and fukk up but if you aren't you basically exploit them and take all the free shyt they give you for no penalty.

credit is a simple game. don't buy shyt you can't afford or shyt you won't be able to pay for. when i was young yeah i tore through my credit like many kids do. when i got a bit older i realized there's two sides to this game. there's the side where you pay 20% or more for an item because you were irresponsible and there's the side where you pay 5%-6% less for an item you were gonna buy anyway because you're responsible.

hell two years ago i had a mid 500s FICO score and now its 750 and climbing every month. when i bought my PS4 i signed up for a Chase Freedom and they gave me $250 cash back when i spent the $500 in the first three months. I got that Amex Blue Cash and bought an Xbox One and also got $250 back on it plus the $25 sync offer.

 

[winb83]

All those these things i bolded you can do with a regular debit card, and if you can pay something off instantly, why not just buy it instantly with your own money?

That just how i roll , the majority of Americans are not that responsible, but Ill let yall ride this wave, a lot of good info being dropped for those that do have a need to use credit cards i gues

if your debit card is compromised and somebody empties out your checking account have fun waiting for the bank to sort that out while your money floats in limbo for however long it takes.

i have a debit card. quit using it. what's the point? you can link your checking account to a credit card from the same bank and it functions the same way. you just transfer the money you cover the spending instead of having them do it.

as for your last question i don't earn cashback buying stuff with "my own money." why should i pay more for something when i don't have to? you rationalize it by basically going credit cards are evil i want no part of them. i'm not gonna pay more for something if i don't have to. my attitude isn't i can't control myself so i better stay away from it all.

 

[Hersh]

theres people that r even able to make a living.. buying (using credit cards with all benefits) and selling .. litereally they have no job.. like 10 credit cards and they make like 5 grand a month just buying and selling using every possible credit benefit.

 

[Czerka]

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

younger dudes should be sticking with one, basic credit card with a low limit and just get used to making payments. once they do that they can branch out and explore other cards. i think its a good way to develop self-responsibility

in four years ive never paid interest or carried over a balance. learning that kind of discipline is valuable because in life youre gonna have to borrow money at some point and just learn how to manage money period

i use quicken personal too which i recommend as a good way to consolidate and track everything

 

[JetLife]

http://www.fatwallet.com/forums/finance/711457/

Use that thread to find the credit cards that fit your lifestyle (assuming you pay off your statement in full every month).

I roll with the ...

Sallie Mae MasterCard: 5% Cash back on Gas/Groceries. I run through about ~$500 a month on gas/groceries = ~$25/month = ~$300 in cash back every year.

U.S. Bank Cash Plus Visa: 5% on Fast Food/Restaurants and 2% on Drug Stores. I run through about ~$800 a month through this one = ~$40/month = ~$480 in cash back every year.

That's basically ~$800 per year I get/save just by making purchases I woulda made anyways.

 

[Kartel13]

I signed up to that chase freedom when they had that $200 cash back option when you spend $500. Still waiting on my $200. But other than that, I just use my BOFA cashback card with a $500 limit and my debit card. I learned a valuable lesson with the whole credit card trap. My dumbass thought I'd be balling once I graduated college so I ran up a few of my cards to buy books and tuition because I was too lazy as well as eager to graduate so I skipped the Financial Aid shyt my last quarter.

All I do now is sign up for them 0% transfers on a yearly basis to consolidate and reduce my interest these cards tend to rape you with.

I always feel I have it hard until I realize how many graduates owe on student loans. Now that, my friends, is the true trap.

 

[NerdNash]

Just one paypal debit card.

 

[winb83]

student loans. Now that, my friends, is the true trap.

my parents paid for all of my college. when i graduated i only had $5000 in student loans and its paid off now.

Student loans are hell. you graduate then hit the experience job conundrum and there's no guarantee you'll ever find work in your field then you gotta pay thousands of dollars in loans back regardless.

 

[NZA]

amex blue cash everyday
capital one visa platinum

no annual fees

i am not a power user who knows all this cash back stuff. i really restrict my use of it and pay off my balances every month. i just keep them for relatively small online purchases and emergencies

 

[Listen]

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

I've had my credit pulled part or background check for a job on two different occasions.

And if you don't have loans or debt or installment payments of any type, you will struggle to get financing on major purchases, this is a fact.

You don't NEED a shyt ton of cards, but to have one decent one is not the devil.

 

[BlvdBrawler]

Don't own credit cards brehs you NEVER win with them.

Breh no. If you understand the system credit cards are a huge win. I get like $600 a year in cash back just for using my amex card. That's $600 in my pocket, just for spending money that I was gonna spend anyway.

 

[Conscious Pilot]

Best Buy Credit Card>>>

 

[BlvdBrawler]

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.

Damn breh, math don't lie. I've been against the credit cards with fees but this makes sense. Guess I'm going for the preferred.

 

[Hersh]

Best Buy Credit Card>>>

those obviously sound good--- but if u can get a store one-- why not an official one that coverse everything?