If this goes on, people will have to live within their means. Scary stuff.

I tend to use this thing called CASH.

BillCo: I tend to use this thing called CASH.

How well does that work with chargebacks? If you pay for something with cash, and get ripped off, does the Treasury Department go to bat for you?

EatHam: BillCo: I tend to use this thing called CASH.

How well does that work with chargebacks? If you pay for something with cash, and get ripped off, does the Treasury Department go to bat for you?

Yeah...that's why I use my credit card for large purchases. That, and I get to use the bank's money for a few weeks until I pay it off.

BillCo: I tend to use this thing called CASH.

Please tell us more about this 'cash' thing.

EatHam: How well does that work with chargebacks? If you pay for something with cash, and get ripped off, does the Treasury Department go to bat for you?

How did we deal with it for the several hundred years before credit cards came about?

Crosshair: EatHam: How well does that work with chargebacks? If you pay for something with cash, and get ripped off, does the Treasury Department go to bat for you?

How did we deal with it for the several hundred years before credit cards came about?

In those days the merchant was usually local, which made things a bit simpler. Now, if I order something off the internet, chances are good that the merchant is not anywhere near me.

Paying with a gold or platinum credit card gives you a much better image than paying with a debit card, or cash. As ol' Mr. Burns said, "money is for the poor".

I don't live in debt and out of my means, but a credit card is still very useful.

I don't do this, but I think it makes a lot of sense:

Get a credit card with cash back with a limit equal to your monthly expenses or your monthly income. (The former is preferable.) Have your paychecks automatically deposited into a high interest savings account like a money market account.

If you get 1% cash back on purchases, you're effectively paying 99 cents on the dollar. And if you earn 1% interest on your savings, you have another 1% added to your income.

So while your income is earning interest over the month, you're also earning cash back. And since you pay your credit card off at the end of the month, you don't pay any interest.

The Icelander: I don't do this, but I think it makes a lot of sense:

Get a credit card with cash back with a limit equal to your monthly expenses or your monthly income. (The former is preferable.) Have your paychecks automatically deposited into a high interest savings account like a money market account.

If you get 1% cash back on purchases, you're effectively paying 99 cents on the dollar. And if you earn 1% interest on your savings, you have another 1% added to your income.

So while your income is earning interest over the month, you're also earning cash back. And since you pay your credit card off at the end of the month, you don't pay any interest.

Math is hard :(

Starryeyes: Math is hard :(

Don't worry yourself sweet cheeks. Let us men manage the money. You go bake some pies.

BillCo: I tend to use this thing called CASH.

I tend to trade salt and pelts for goods when I travel.

The Icelander: I don't do this, but I think it makes a lot of sense:

Get a credit card with cash back with a limit equal to your monthly expenses or your monthly income. (The former is preferable.) Have your paychecks automatically deposited into a high interest savings account like a money market account.

If you get 1% cash back on purchases, you're effectively paying 99 cents on the dollar. And if you earn 1% interest on your savings, you have another 1% added to your income.

So while your income is earning interest over the month, you're also earning cash back. And since you pay your credit card off at the end of the month, you don't pay any interest.

Fark all that noise broseph!! I just replaced my kitchen window with a 55 inch LCD cuz mother nature aint in no HD.

The Icelander: ....

Yeah, like I'm gonna take financial advice from someone called The Icelander.

I'm so &%?^*&$ sick of hearing about my CREDIT SCORE and how important it is that my CREDIT SCORE be good and that I should work hard on improving my CREDIT SCORE.

It's all a racket. The bankers have succeeded in linking their product directly to a number that a sick, decaying society is happy to equate with your worth as a human being. And, what's more, since they control the system anything you do that they don't like reflects negatively on that number. Too many cards? Too few? Close a card? Good lucky buying a house, jack! Oh, and guess what, if you don't play ball with us we'll kill it, and you might even have a problem getting a job!

Slaxl: Paying with a gold or platinum credit card gives you a much better image than paying with a debit card, or cash.

I have a Capital One Platinum card. It was the card I got freshman year of college. Platinum/Gold doesn't mean shiat anymore especially if a freshman in college with no credit history can get one.

St_Francis_P: Crosshair: EatHam: How well does that work with chargebacks? If you pay for something with cash, and get ripped off, does the Treasury Department go to bat for you?

How did we deal with it for the several hundred years before credit cards came about?

In those days the merchant was usually local, which made things a bit simpler. Now, if I order something off the internet, chances are good that the merchant is not anywhere near me.

If you order something from the internet, you're not paying with with actual, paper cash. You're using a money order, or PayPal, or a check, all of which offer some level of protection.

The Icelander: I don't do this, but I think it makes a lot of sense:

Get a credit card with cash back with a limit equal to your monthly expenses or your monthly income. (The former is preferable.) Have your paychecks automatically deposited into a high interest savings account like a money market account.

If you get 1% cash back on purchases, you're effectively paying 99 cents on the dollar. And if you earn 1% interest on your savings, you have another 1% added to your income.

So while your income is earning interest over the month, you're also earning cash back. And since you pay your credit card off at the end of the month, you don't pay any interest.

Every single cash back card I have ever seen have yearly subscription fee's(or whatever you want to call them its the same shiat). These fees amount to higher interest. Now if your one of the "but I pay it off before I get charged interest" crowd then you all have obviously done the math and realised that for you to break even on the yearly subscription fee for your 1% cash back that most of the time this amounts to 16000$ worth of charges going through that card Per year. JUST to make your subscription fee back.

PPL_Wannabe: BillCo: I tend to use this thing called CASH.

Please tell us more about this 'cash' thing.

Slaxl: Paying with a gold or platinum credit card gives you a much better image than paying with a debit card, or cash

Image? IMAGE? Who the fark cares about image when you're buying a cart full of groceries? Or anything else for that matter? Do you think the $9/hr clerk actually cares?

dofus: Slaxl: Paying with a gold or platinum credit card gives you a much better image than paying with a debit card, or cash

Image? IMAGE? Who the fark cares about image when you're buying a cart full of groceries? Or anything else for that matter? Do you think the $9/hr clerk actually cares?

I know its hard to believe but there ARE people out there who think exactly this. That they must impress every single person at all times even when 99% of the time nobody even pays attention to what they think is impressive.

poisonedpawn78:

Every single cash back card I have ever seen have yearly subscription fee's(or whatever you want to call them its the same shiat).

I've had three different cards that did cash back, and none of them had fees - two Discover cards and one Mastercard.

Whodat?: I'm so &%?^*&$ sick of hearing about my CREDIT SCORE and how important it is that my CREDIT SCORE be good and that I should work hard on improving my CREDIT SCORE.

It's all a racket. The bankers have succeeded in linking their product directly to a number that a sick, decaying society is happy to equate with your worth as a human being. And, what's more, since they control the system anything you do that they don't like reflects negatively on that number. Too many cards? Too few? Close a card? Good lucky buying a house, jack! Oh, and guess what, if you don't play ball with us we'll kill it, and you might even have a problem getting a job!

Sounds like you have credit problems. Good credit speaks for responsibility, jack. You pay your bills, your card off every month. You are a responsible human being. your insurance rates go down some. you get better rates on home loan/cards because you have a history of being responsible.

you miss payments, bye good rating. Learn this at an early age, youngin's.

Not a racket, probably a pretty effective means of calculating risks.

poisonedpawn78: Every single cash back card I have ever seen have yearly subscription fee's(or whatever you want to call them its the same shiat). These fees amount to higher interest. Now if your one of the "but I pay it off before I get charged interest" crowd then you all have obviously done the math and realised that for you to break even on the yearly subscription fee for your 1% cash back that most of the time this amounts to 16000$ worth of charges going through that card Per year. JUST to make your subscription fee back.

You obviously haven't looked very hard: Link (new window)

2% cash back on gas and grocery, 1% on everything else. No annual fee. If you have average credit, you can get a card with a $39 annual fee, meaning you'd have to purchase $3900 to make the fee back(entirely reasonable in a family). No where near $16000 worth.