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(Forbes)   Millennials are using cash far more often than credit cards in the wake of recent security breaches and the realization that they don't make enough money to have credit cards in the first place   (forbes.com) divider line 211
    More: Obvious, security breaches, Target, credit cards, digital native  
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2150 clicks; posted to Main » on 18 Mar 2014 at 7:05 AM (35 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2014-03-18 07:50:11 AM  

HindiDiscoMonster: CASH... the choice of Armed Robbers worldwide


Everybody needs to eat!
 
2014-03-18 07:50:35 AM  

TwistedFark: As for the credit check thing... I am a hiring manager (and have been for years) including at some fortune 100 companies. I've actually never seen HR perform a credit check on anyone, including people who work at financial institutions (like me).


Of course they don't; they outsource that work -- there are firms that sell their business to HR departments vetting candidates.  It has nothing to do with qualifications (that's still done the old-fashioned way) but a series of invasive and humiliating checks such as education, credit, criminal record, etc.  Of course, the perk is that these third-party firms basically get paid to collect personal information and you've signed off on the 3rd party agreement (otherwise bye-bye job offer).

Had it done to me.  What's even worse is that if it happens too many times, the credit agencies will ding your credit score for being accessed too many times.  That's a nice little cycle.
 
2014-03-18 07:51:14 AM  

rumpelstiltskin: illannoyin: Isn't the millennium only 14 years old?

/I don't really understand how that whole generation naming thing works

The millennials are the generation that "came of age" at the turn of the century. We say "came of age", because while other generations may have "grown up", the millennials just sort of stumbled from birthday to birthday. But that's beside the point. Another cohort is hot on their heels and will be entering the workforce in five years or so, and we don't have a name for them yet. I know everyone has a lot on his plate at the moment, and we don't have to solve this problem right away, but we should be looking for ideas. I'm sure the millennials want to start making fun of someone else as soon as possible, and we'll need to have a name ready to go.


Generation Z is most common, which seems way too generic but might work out okay because zombies. All the cutesy on-the-nose proposals like iGeneration are idiotic. The New Silent Generation might be suitable but I think it's too early to tell...and it kind of sounds like a an off-brand superhero cartoon.
 
2014-03-18 07:51:17 AM  

The Muthaship: HotWingConspiracy: Do you watch a lot of money rap videos or something?

Do they still make those?

I'm not against using credit cards.  I do it quite often.  But, adults should carry a reasonable amount of cash.  It has flexibility beyond any other form of payment.  My bias comes from and endless list of anecdotes involving people saying "I don't have any cash, can we split the check 14 ways and I can use 3 of my credit cards, a debit and this gift card?" when the bill arrives.  It's annoying.


Oh for sure. I was quite keen to dispense with cash then I learned it's folly after one of our annual biblical smiting storms in the NY metro area. No power for 2 days meant no purchasing power, it was kind of miserable. Yes, 2 days isn't a long time but I'm a single guy with nothing but condiments in my fridge. Now I roll with a healthy mix and I never ever put more on credit than I can clear at the end of the month.
 
2014-03-18 07:53:25 AM  

RockofAges: Credit card companies pay rewards to rich / big spenders. Not the average person, let alone most cardholders (serious debtors).


While credit card companies love interest income, their primary revenue stream is transaction fees. Even if you never pay a nickel in interest, they still make a percentage on every purchase you make with their card (which is why small businesses hate dealing with credit cards). That's where the real money is, so yes, they  do pay rewards to non-rich people (I had a rewards card fresh out of college, with barely any income). Things have changed, in that most rewards cards do come with an annual fee, which does mean that  you don't benefit from the rewards unless you're a moderate spender (the card my wife has pays for its annual fee in a month or two, based on our spending patterns).
 
2014-03-18 07:54:40 AM  
I'm 31 and I've never owned a credit card.  I know there are advantages if you have a credit card and pay it off consistently, but I'm much more comfortable with money I spend coming directly out of my checking account.  I also don't like carrying around a lot of cash in my wallet. The only downside so far has been that when I bought my house, my dad had to cosign on the mortgage.  Six months later, I refinanced as the sole mortgagor. When I was younger, I did have a few times where I over-drafted my account and it cost me, but now I keep a substantial emergency-only padding in my account to keep that from happening.

Whatever your financial practices are, don't spend money you don't have.
 
2014-03-18 07:54:46 AM  

mafiageek1980: Good on them :) Maybe we can stop biatching about them so much and praise them for the GOOD things they do?

/Born in '80
//part millennnial, part gen X, 100% Crazy!


We got burned with the recession, so a decent chunk of my generation is really hesitant to go into debt. Of course, student loans that equal about a car payment don't help either.
 
2014-03-18 07:54:54 AM  

HindiDiscoMonster: The Muthaship: HotWingConspiracy: Do you watch a lot of money rap videos or something?

Do they still make those?

I'm not against using credit cards.  I do it quite often.  But, adults should carry a reasonable amount of cash.  It has flexibility beyond any other form of payment.  My bias comes from and endless list of anecdotes involving people saying "I don't have any cash, can we split the check 14 ways and I can use 3 of my credit cards, a debit and this gift card?" when the bill arrives.  It's annoying.

[4.bp.blogspot.com image 420x315]
/CASH... the choice of Armed Robbers worldwide.... :P


"A man can always steal more with a briefcase than a gun."  -  Mike "Mag Dog" Adams
 
2014-03-18 07:55:04 AM  

HotWingConspiracy: Now I roll with a healthy mix and I never ever put more on credit than I can clear at the end of the month.


Word.

HindiDiscoMonster: I barely make it now


I hope things get better and quickly, sir.
 
2014-03-18 07:59:09 AM  

ApeShaft: Why would you want to use cash? I live in Sweden and I never use cash. It's faster, simpler and safer with card payments. At least over here.


You answered your own question.

Setting aside whether or not cash is actually due for a comeback, in case you haven't noticed, American companies don't put a whole lot into protecting their customers' credit card information.  It's anything but secure.  Of course, credit card companies are generally good about fraudulent charges but that's basically subsidized by their enormous interest & fees revenue.  If credit card usage declined beyond a certain threshold they would very quickly end that perk.
 
2014-03-18 07:59:54 AM  

HindiDiscoMonster: HotWingConspiracy: The Muthaship: HotWingConspiracy: Do you watch a lot of money rap videos or something?

Do they still make those?

I'm not against using credit cards.  I do it quite often.  But, adults should carry a reasonable amount of cash.  It has flexibility beyond any other form of payment.  My bias comes from and endless list of anecdotes involving people saying "I don't have any cash, can we split the check 14 ways and I can use 3 of my credit cards, a debit and this gift card?" when the bill arrives.  It's annoying.

Oh for sure. I was quite keen to dispense with cash then I learned it's folly after one of our annual biblical smiting storms in the NY metro area. No power for 2 days meant no purchasing power, it was kind of miserable. Yes, 2 days isn't a long time but I'm a single guy with nothing but condiments in my fridge. Now I roll with a healthy mix and I never ever put more on credit than I can clear at the end of the month.

you have very good willpower... if only most people did.


I think it's more about paranoia, honestly. I've been dirt poor and in debt, that shiat isn't any fun. I'm not going back.
 
2014-03-18 08:00:24 AM  
Using cash for regular transactions can save an ass-load (technical term) of money as many points of sale can offer discount for using cash - you just have to ask for it.  If you deal with a salesperson who does not have the juice to offer a discount, ask to speak with someone who has the power.  Don't fall into the trap that you can get by without having a credit card; just try to get a mortgage without one.

There is nothing inherently wrong with credit cards, just pay them off.    Carrying a balance on your credit card = giving money away.
 
2014-03-18 08:00:57 AM  
Millennial articles: unfounded generalized click bait.

/won't carry cash
 
2014-03-18 08:01:19 AM  
It's just hipster/artisan/renfair/steampunk/prepper backlash against The Man.  You know, because of that Snowden guy.   Or something.

Let one of them need to acquire any real property and they'll stampede to credit like the other demographics.
 
2014-03-18 08:01:52 AM  

RockofAges: Good point, I forgot about the rape of small businesses in the mix.


Which is why lots of small businesses are moving towards using things like Square. It widens the range of payment methods and while the base transaction fee is higher, it has fewer of the "sneaky" fees.
 
2014-03-18 08:02:27 AM  
Depression, recession, boom, bust, market factors, old people, young people, blah blah blah.

What all of the GED economists clearly stating "how sh*t works and who's to blame" never seem to mention is that the entire economic structure of Corporatist Capitalism™ is based on endless growth, a new pack of suckers who hit the ground running at 20 with enough debt to make Shylock wince - every twenty years - and is pretty much modeled on things that don't work in the physical world.


And, every twenty to 45 years, scale of whatever war we're in being the deciding factor, they wheat gets harvested and pushed upchain and we start getting all shouty and twitchy and blamey and several other dwarfs who weren't in the film.


Bonus, we participate in this over and over, never saying "OUR economic constructs look like something a 7 year old worked out after finding their dad's old pocket calculator.  Maybe it just blows."
 
2014-03-18 08:02:31 AM  
And the trend has only just begun.

It's a trend piece.  That means it's bullshiat.
 
2014-03-18 08:03:42 AM  

SoupJohnB: Boomer, here.  (Hold your fire!)  I fell into a deep financial hole a few years back.  Had plenty of help with the digging, but had to crawl out on my own.  I decided that the first order of business was to retire all credit card debts and stick with the pay-as-you-go plan.  I made it, but discovered that when you don't buy stuff on credit, your credit ratings suffer!


I went through the same thing about 10yrs ago. Paid off all of my debt, went cash only and didn't monitor my credit. It has taken me awhile to get it back to right.
 
2014-03-18 08:04:16 AM  

Monkeyfark Ridiculous: The New Silent Generation


That would be a laughably ironic name for the chattiest and most trollerific generation in history.
 
2014-03-18 08:06:25 AM  
By the way, as far as functional societies go, the guy selling "F*cking old people f*cking f*cked everything up and sh*, dude!" doesn't exactly look look like Solutions Man©
 
2014-03-18 08:09:59 AM  

RockofAges: bunner: By the way, as far as functional societies go, the guy selling "F*cking old people f*cking f*cked everything up and sh*, dude!" doesn't exactly look look like Solutions Man©

Hand over the reigns and see how it's done. Until then, grip them with your wrinkled fingers until your surburban illusion collapses. You guys farked it up. Granddad's generation didn't.


It's spelled "reins" and I have some rather unpleasant news to impart.  There are no reins.  And if there were, they sure as hell wouldn't be in the hands of any given group because of what year they were born.  Time Life really *isn't* the most accurate historical reference.
 
2014-03-18 08:10:24 AM  

Freudian_slipknot: Cerebral Ballsy: The Muthaship: Good.

Grown ups carry cash.

I'm proud of you.

I have a coworker trying to date me who doesn't use cash, even small amounts.

/I won't even be your friend if you're one of those annoying-ass people

That's a super cool thing to be really upset about.

Personally, I use a card for everything.  Even super-small purchases.  Everything auto-pays onto the card, including utilities where possible.

At the end of the month, I have an accurate history of exactly where my money was spent and I pay off the card.

I have an exact history down to the penny of my spending habits, down to how often I grab fast food at lunch or how much I've spent on shoes in the last 5 years.  It definitely helps when trying to find places where I could slim down the budget instead of looking at an empty wallet at the end of the week and trying to remember where it all disappeared to or sorting through a handful of crumpled receipts.

I've never been in debt, other than my mortgage.  I've never even take a car loan.  But because of my solid history with my card, I was in the top-tier for credit rating when I applied for that mortgage.

I have never in my life carried a balance over on my card or paid a single cent in interest on those charges.

tl;dr You're ridiculous for judging someone using a card without knowing the details.

/born in 82.  Technically a millennial, I guess.


Same here except the car loan. Needed it to afford the used minivan. Sucker cost three times more than the honda I had to replace :/

Don't have twins.

Used the CC because you're throwing away your rewards points otherwise. It doesn't get any cheaper if you use cash or your bank card, so you might as well get that 2% (or whatever) back.

/1982
//am slightly offended by the name "millennial".
///slashies come in threes
 
2014-03-18 08:11:08 AM  
P.S.  There's a very good chance that "grandpa" and "pops" got the sh*tty end of the twig, too, kids.  Step back from the tree house and look at the forest.
 
2014-03-18 08:14:29 AM  
What cash may look like:

img.fark.net
 
2014-03-18 08:15:31 AM  
I don't get this "trend" the article refers to.  It reads that 48% of those 18-24 yearsold saidthey were very confident, then goes oninterpret this as indicating that a "majority of the youngest primary family shoppers are either somewhat confident or not confident at all..."
So there were only 3 possible answers to this question on the survey: very confident, somewhat confident, or not confident at all, yet 48% isn't enough to be significant? (do the math)
Where's the data on any demographic between 25 and 49?

Also, cash doesn't hold the most liquidation these days; I can't use it online, some stores prefer not using it so they don't have to bother with it, even vendors at the farmers' market are using tablets or phones for plastic card purchasing instead of cash.

I may be off, but isn't this more about opening lines of credit through companies that are supposed to be retailers, not banks... or in the case of Target and it's Red Card debit card - that link a physical card of theirs to an existing checking account of yours... I may be biased since just getting my card number isn't going to even give you a full tank of gas, but when it comes to general use of my card, I have them run it as credit because I worry more about someone watching me enter my pin than data breeches.
 
2014-03-18 08:16:36 AM  

UNC_Samurai: reprobate1125: Cerebral Ballsy: True, true.  Also, if you don't buy stuff on credit, you don't need to worry about your credit rating.

Not quite true.  Whether you agree with it or not rates like homeowner's insurance and car insurance are often partially tied to your credit.

Also, many employers check credit before hiring...even if your job has nothing to do with money. They use it to see if you are a person of your word (by keeping your financial obligations).

While I can understand a couple of jobs being interested in that sort of thing (such as in the financial or security sectors), in general the idea of needing solid financial footing just to get a job that doesn't involve flipping burgers should piss people off.  Doesn't that seem like an incredibly easy way to trap people in a vicious cycle?


Sometimes the whole credit check thing is more for data logging.

Used to work LP for national retail chain. We ran criminal and credit checks on every new employee. Criminal would likely get you off the list, credit was less of an issue, unless your register started coming up short. The we'd sit on you until we got you.

I don't know how many crying late teen/early twenties idiots we had paraded out the front door in hand cuffs, but it never seemed to stop some other idiot from stealing.
 
2014-03-18 08:16:44 AM  
College age kid home for weekend.    Drove past the local small town firecompany/annex parking lot and saw cars...people standing around.      Thought is was a 'rummage sale' that they some times have.     Pulled in, recognized a neighbor etc...

Turns out it wasn't a rummage sale, they weren't selling homade soups and pies like a couple years ago.

It was a food handout.    A business and church donation.    The neighbor stopped and showed her that if she signs her name she could get spagetti noodles, cans of beefaroni, salt an pepper, toilet paper, marshmallows? and other canned food items.   People standing in cold and snow for just one bag or about 10-15lbs of dry goods.

She just kind of went all blank.   It wasn't what she thought it was.

yep, then she got in the car and bawled.     Welcome to 2014.
 
2014-03-18 08:17:59 AM  

HindiDiscoMonster: oooh right... no protection on that... I will continue to use my debit/VISA thanks... rob me of that, I get the money back by 5pm same day


Real credit cards are a lot safer than the "fake" debit visa cards which are only slightly safer than cash.

The big problem with the debit card/visa check card is that, sure if there is fraud on your card, you might get that money back pretty quickly. The downside is if you've written any checks or had any other debits from that same account.

1. If you are old school and have written a check (I write like 1 a  year), if that check bounces at the same time you had your debit card fraud, in most states the company could swear out a warrant for your arrest.  Your bank isn't going to fix that.  And it does happen.  A lot.

2. If you pay any bill from your checking account (including your mortgage) during a time of fraud with your debit card, there is no guarantee that your bank is going to pay the late fees and clean up the mess.

If you don't want to use a real credit card and insist on using a debit card the only safe way to do it is for it to have its own account that you do not also use for checks/bill pay.

If someone steals your regular credit card, they've taken the bank's money, not yours.
 
2014-03-18 08:19:50 AM  

RockofAges: But the rule is -- the boomers as a generation were handed everything. Economic prosperity, free love, and a fake hippy movement


I'm sorry, but your "rule" is largely prefab malarkey and pretty much the whole Time Life box set.  It is.  Why would I make that up?  I'm just trying to keep the f*cking lights on here like everybody else until somebody hands me those oft touted reins.  You really believe a bunch of spoiled kids who, 80% of which, had working class parents and lived in a GI Bill house all the sudden said "let's dress funny, pretend to reject greed and the military industrial complex turning the world into a sh*thole and then, like in 20 years, we'll take the whole thing over and do a lot of coke"?  Find me one demographic on earth other than the 1% whose con is that well thought out and I'll kiss your ass in Macy's window.  Your scapegoat is plush animal and it was made in Taiwan.
 
2014-03-18 08:19:53 AM  

Spanky McStupid: Don't fall into the trap that you can get by without having a credit card; just try to get a mortgage without one.


Done and done.

You can get a mortgage without a credit card. I know, I have one.

I worked in mortgages for a pretty big bank for several years, and yes absolutely credit history is a factor on the risk assessment, it's not the only factor, and a lack of credit itself doesn't necessarily give you negative points on the risk card.

The biggest factors are always (at my place of work it was in this order).
1) Down payment size as proportion of final settlement.
2) Cash on hand.
3) Investments you own. (401k's, stocks, mutual funds, bonds, term deposits, etc)
4) Work history.
5) Credit history (so long as there are no defaults or bankruptcy, you're usually fine)

I easily got my first mortgage with less than 10 years of work history because I rocked up with 20% down and an investment portfolio that equated to another 40% of the final settlement price. The loan officer was practically tripping over his dick to sign me, took me out to lunch and came to my place of residence after hours to get me to sign the mortgage documents.

I tell this to people all the time - if you want to get financing for an investment (and a mortgage should be an investment) the easiest way to establish the credit to do so is to have other investments. You'd be amazed at how far 50 dollars a week into an investment portfolio, when combined with 401k contributions will go after a few years in establishing you as a low credit risk.

Amazingly enough, banks like to have customers who invest their money. Go figure.
 
2014-03-18 08:20:04 AM  

BumpInTheNight: This cunning plan only works if you're part of the Renters and leasers for life crew!


Not true. Smart landlords check credit as well.

This cunning plan only works if you're part of the Renters in the ghettoo and leasers for life crew!

FTFY
 
2014-03-18 08:20:06 AM  
Was out to dinner the other day and watched 4 twenty something's each pay for their dinner with a credit card. The waitress was not amused.
 
2014-03-18 08:22:59 AM  

UNC_Samurai: in general the idea of needing solid financial footing just to get a job that doesn't involve flipping burgers should piss people off.  Doesn't that seem like an incredibly easy way to trap people in a vicious cycle?


It does, but the logic is...
If potential employee tells xyz he's going to do something (like pay $50 per month) and doesn't, how in the world am I supposed to believe he's going to do what he tells me he's going to do.

That's not my logic...it's theirs and it makes some sense.  The problem/fault in the logic is that huge proportions of people with bad credit got there from medical bills (possibly from their spouse).  Of course there's the housing "crisis" but that's another story.
 
2014-03-18 08:24:45 AM  
As evil as credit companies are, I have no sympathy for the, "I was 18 and dumb and racked up thousands of dollars in credit card debt buying shoes."
 
2014-03-18 08:25:15 AM  
Serious, nonjudgmental question for those out there who have ever actually borrowed on a credit card (i.e., did not pay it off every month): why did you do it? Did you lack shopping discipline at the time? Did you simply not understand how the card worked? Were you in a bind and needed the money?

To many it's a no-brainer to use a card in a disciplined manner and pay it off every month so that you build credit, collect rewards, and have fraud protection without paying any interest or fees. But enough people refute this notion such that it must not be as simple as it sounds. Some CSBs might help bridge the gap of understanding.
 
2014-03-18 08:25:27 AM  
RockofAges: 
Unfortunately for you, you are so totally wrong that anyone reading this thread will be able to discern this at a moment's notice. Swing and a miss.

Oooh, posture of authority coupled with a baseless dismissal AND an appeal to the masses in one sentence.  And on the INTERNET!  Sustained +12 damage.  I need a power up.  Hand me those reins!   *snort*  I'll bet none of this is sinking in.
 
2014-03-18 08:25:49 AM  

RockofAges: Freudian_slipknot: Cerebral Ballsy: The Muthaship: Good.

To be fair, you are the exception rather than the rule, by a huge margin. If you were the rule, VISA and Mastercard wouldn't be the enormously profitable parasites that they are. That being said, I agree with you that it's foolish to judge a credit / debit only person.

As a redneck / scavenger -- cash is king.


I used to think that I was kind of ripping the CC companies off by paying my cards off at the end of the month. I've never paid a penny in interest in my life. (I'm 37).

Then I started taking credit cards at my business. The CC companies make PLENTY of money even if you don't pay them the ridiculous interest. It's a great business.
 
2014-03-18 08:26:39 AM  
Too bad for them college loan debt exceeds credit card debt.
 
2014-03-18 08:27:25 AM  
I'm really tired of the biatching about Millinials as if they were irresponsible...if anything, it's the generations raising them that deserve derision.

We have credit card debt which happened after I quit my job due to nearly dying from undiagnosed illness...which happened right at the same time we bought a house. The medical bills plus things we had to fix in our house (which the previous owner trashed on her way out) ended up going on the credit cards because we suddenly had less income and we've been working on them ever since. On the plus side, we were never weighed down by student loans, so it's made it easier...but I will be glad when we pay off the credit cards and can build our savings back up again...I hate living on the edge and we probably won't start making headway until I can go back to work (which would do no good right now as we have two young children and most of my income would get eaten up by daycare). But we live in a nice house that we can afford without problems, raise our children and can afford preschool and extracurricular activities for them and nearly have our first car paid off, so I think we are doing well, despite the credit card debt.
 
2014-03-18 08:27:53 AM  

Snarcoleptic_Hoosier: Of course, student loans that equal about a car payment don't help either.


And you can't bankrupt out of the loans for that psychology degree.
 
2014-03-18 08:27:54 AM  

Tyrone Slothrop: Too bad for them college loan debt exceeds credit card debt.


But they'll have that degree debt certificate that says "I'll do ANYTHING for money!
 
2014-03-18 08:33:07 AM  

van1ty: As evil as credit companies are, I have no sympathy for the, "I was 18 and dumb and racked up thousands of dollars in credit card debt buying shoes."


Credit cards were given out to 18 year olds and younger bc they knew the parents would wind up paying the bill. Now you have to be 21 or prove that you're on your own financially (and that's relatively hard to do ).

If your young and in college, the sweet spot to get a cc is at 21 because once you graduate, it's a lot more difficult those first few years because of this line of thinking.
 
2014-03-18 08:34:25 AM  

illannoyin: Isn't the millennium only 14 years old?

/I don't really understand how that whole generation naming thing works


Well aren't the baby boomers actually the baby boomed?  Like they're the babies that came from the boom?  I don't know what exists between boomers and Xers, and always thought Xers were anyone from the late 70s/80s, but millennials  are said to be 80s/90s, so is there an overlap or what?

The article cites survey answers from 18-24 year olds and then 50-65 year olds (So baby boomers are post-Korean War kids?) but no other demographic... The article reads like some of these posts, just more drivel dividing of boomers, who apparently are always right in everything they do, from those recently entering the workforce.
  Hey boomers, I get you like to giggle at kids raised in modern technology when they spike a surge in popularity of something you see as traditional, or maybe it makes you feel better about not understanding today's technology (you think the best thing about switching to DVDs and DVRs is that you no longer had to live with the blinking clock on your VCR) but don't forget, it was your generation that invented most of today's technology.  Stop hating on those that will turn the technology your peers gave us into even more revolutionary tools, and accept that your has-been arses have only so much time left before the younger generations point out that the whole system boomers set up for 65+ when they retire was designed for a time when people were long lived to even reach 60, doesn't function when its applied to a generation that didn't lose millions in war, and lives into their 70s on average.

/not really pushing for a retirement age of 75
//not getting off your lawn
 
2014-03-18 08:35:01 AM  

Semantic Warrior: I may be off, but isn't this more about opening lines of credit through companies that are supposed to be retailers, not banks... or in the case of Target and it's Red Card debit card - that link a physical card of theirs to an existing checking account of yours... I may be biased since just getting my card number isn't going to even give you a full tank of gas, but when it comes to general use of my card, I have them run it as credit because I worry more about someone watching me enter my pin than data breeches.


Retailers haven't "held the paper" on their debt since the 90's for the most part. Every time you get any kind of store card, it's almost always underwritten by a big bank.
 
2014-03-18 08:35:25 AM  

UNC_Samurai: While I can understand a couple of jobs being interested in that sort of thing (such as in the financial or security sectors), in general the idea of needing solid financial footing just to get a job that doesn't involve flipping burgers should piss people off. Doesn't that seem like an incredibly easy way to trap people in a vicious cycle?


Your employer doesn't care, he just wants a solid employee. Your credit sucks, fark you, I'll get somebody else.

/My current employer ran a credit check and a drug test so I could get this crappy-ass job.
 
2014-03-18 08:35:56 AM  

mafiageek1980: Good on them :) Maybe we can stop biatching about them so much and praise them for the GOOD things they do?

/Born in '80
//part millennnial, part gen X, 100% Crazy!


Generation Y buddy. millenials are the kids that always had internet. If you can remember a time with only a handfull of tv channels and no internet than you cant really be a millenial.
 
2014-03-18 08:37:24 AM  
Where do Debit cards fit in? Everyone I know doesn't use credit, but they mostly use Debit cards instead of cash.

Except for the ones who wait tables or serve coffee, that is.
 
2014-03-18 08:37:36 AM  
The central reserve banking system bent this country over the sink 100 years ago and if you really wanna "make that greedy generation pay!", you're gonna need a shovel and a voodoo priestess.  Debt is the only thing we make now, kids.  And it wasn't any given generation's idea.
 
2014-03-18 08:37:47 AM  
Deep Contact


Was out to dinner the other day and watched 4 twenty something's each pay for their dinner with a credit card. The waitress was not amused.


Did each of them take a picture of their food?

/god that irritates the hell out of me
 
2014-03-18 08:37:55 AM  
Are CC really that difficult? Spend money you have. Pay it off at the end of the month. Collect x% in rewards. Sure it may not be much but I can earn an extra 200+ dollars a year and not change my spending habits.
 
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