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File: 88 KB, 487x415, credit-card-debt-trap-021.gif [View same] [iqdb] [saucenao] [google]
5899144 No.5899144 [Reply] [Original]

I've heard that americans often use a credit card to buy groceries. Why is this?

>> No.5899149

Build credit, stack card rewards.

>> No.5899162

>>5899149

This. Use of revolving credit can boost your credit score so long as it's not too high of a usage.

Welcome to adulthood.

>> No.5899165

>>5899162
>muh credit score

So you can borrow even more so you can be in more debt?

Brilliant.

>> No.5899166

>>5899149
So much this. Bump up that credit score, collect my cash back rewards, never let interest accumulate.

>> No.5899171

>>5899165
You honestly do not know how credit scores work do you? It's okay to admit it.

>> No.5899173

>>5899165
Yes, because not everyone can put down 500k in one lump sum for a house.

>> No.5899176

>>5899165
Companies check prospective employees credit, and so do realtors, landlords, and realty companies.

>> No.5899177

Why the fuck not? Anyone who uses a credit card when they don't have enough money to pay it off is a fucking moron.

You get rewards if you aren't one of the aforementioned morons and actually have a good credit score and a such a good credit card. Also landlords typically do credit checks as part of a background check if you rent so it's good to have a good credit score.

>> No.5899182

>>5899173
>buying a $500k house

Who the fuck does this? I'm 25 and married, we bought our first home in cash.

>> No.5899183

>>5899165

Do you understand how credit cards work? Not everybody is a fucking junkie who is running up bills on their credit card they can't pay off.

>> No.5899186

>>5899182

Where I live it would cost that much for a fairly small apartment, not even kidding. I can only imagine how much it costs in manhattan or san francisco.

>> No.5899188

>>5899182
You paid all of it in one lump sum? How much was your house?

>> No.5899190

>>5899186

I'm not a homosexual so I wouldn't need to buy a house in manhattan or san francisco

>> No.5899192

>>5899183

This. I have a 20k limit on my card but never go above 4k, because that is what I make in a month :/

>> No.5899193

I literally pay off the entirety of my CC every time I get paid, big whoop. I have the money to back it up, it's more convenient than cash, I get shit for using the card, and my credit score is golden now.

I could get a house if I want to (but only fools OWN houses). I could get a car if I want to (my '99 Jeep is still ticking though). I could get an even better CC with better rewards and do the same shit if I want to (but that's effort, meh).

What can you do with your lack of credit? Get a bullshit fake credit card that works like a prepaid card? Nigga please, good luck if you ever have a sudden expense.

>> No.5899198

>>5899188

47k on 1.4 acres

>> No.5899200
File: 38 KB, 768x629, donut.jpg [View same] [iqdb] [saucenao] [google]
5899200

>>5899193
>but only fools OWN houses

>> No.5899205

>>5899198
enjoy living in bumfuck nowhere

>> No.5899206

>>5899198
Not bad.

Also, people with money who prefer to live in the city or rich people suburbs spend that amount of money on houses.

>> No.5899208
File: 100 KB, 342x245, 1413247608542.png [View same] [iqdb] [saucenao] [google]
5899208

>>5899144
You know we pay off credit cards, right?

>Pay for food with credit card
>Pay off credit card with job well before interest kicks in
>enjoy rewards and better credit

There are people caught in debt prison's, and there are people who don't know how to use their credit cards properly, but that doesn't mean credit doesn't have its uses.

Very few people are able to get all the way through life without needing credit once. Employers will check your credit score too.

>> No.5899209

>>5899198
Wtf average home prices are like 180k

>> No.5899211

>>5899205

Enjoy your crime and illegal immigrants everywhere

>> No.5899213

>>5899198

With a house on it? Jesus fuck was it made of cardboard?!?!?! That's cheap whats the sq footage?

>> No.5899216
File: 31 KB, 500x274, 5183695511_47603355cb.jpg [View same] [iqdb] [saucenao] [google]
5899216

>>5899208

>mfw I only do cash back rewards because miles rewards are usually a ripoff

>> No.5899217

>>5899193
>but only fools OWN houses

Pretty sure that's not true, but I'd love to hear your reasons, as long as it's not "you're going to move eventually anyway."

>> No.5899223

>>5899213

1050 sq ft. It's a normal house.

>> No.5899225

>>5899223

That's an apartment...

>> No.5899228

>>5899225

I own it. Can you say the same about yours?

>> No.5899230

>>5899223
That's pretty small.

>> No.5899231

>>5899190

Well I don't live in either of those places and that's still how much it would cost. I wouldn't live here if I wasn't born here and relocating is a lot more arduous than people give it credit for.

>> No.5899234

>>5899223
My buddy's studio is larger than that. And he rents.

>> No.5899236

>>5899209

>tfw average house prices here are ~700k

>> No.5899237

A lot of people are living pay check to pay check. Also, if you pay it off within the month, you don't get interest charges, so it's basically an interest-free loan.

>> No.5899238

>>5899223
>google 1050 sq ft
>almost every link calls something this size a townhouse, an apartment or a "starter" home.

It's fine if you like it, don't ever feel like you need a bigger house to keep up with the Jones, but that's not a "normal" house.

>> No.5899243

>>5899238

It's easy enough to expand it if we need to later with no bureaucrats breathing down our neck. Enjoy your homeowner associations.

>> No.5899246

GERMS CAN LIVE UP TO 6 DAYS ON PAPER $. YOU SEE WERE NOT FILTHY ANIMALS LIKE MOST U 3RD WORLD WHATEVER U R.ALSO WERE MOVING CLOSER 2 A CASHLESS SOCIETY IT JUST EASY 2 CARRY PLASTIC.

>> No.5899251
File: 52 KB, 720x480, 1412879833360.jpg [View same] [iqdb] [saucenao] [google]
5899251

credit noob here. Anyone know any books to teach me about credit card use and things similar to whats being described in this thread?

>> No.5899252

>>5899243
>not buying an 120 year old Victorian house for 150k and renovating it while also being free of the communist homeowner association.

>> No.5899254

>>5899243
You're getting real defensive when I'm not even insulting you. I'm sure your home is nice.

1050sq ft isn't a normal/average sized house. If you're argument is you can make it bigger later in life, you're basically agreeing with me.

>> No.5899258

How do you guys feel about carrying cash? I usually have around 4 or 5 hundred on me at any given time.

>> No.5899259

>>5899251
I hear Dave Ramsay is good. I haven't read him myself, but there are lots of people who say that it's thanks to him they finally got out of debt.

>> No.5899260

>>5899251

2 credit cards is the sweet spot for a high credit score. Limit your usage to less than 30% of the limit and try to pay it off before each quarter. No books to help ya though. Sorry.

>> No.5899262

>>5899246
>not just using a debit card

Man I fucking hate when I'm in a store and there's an 80 year old lady counting out pennies.

>> No.5899264

>>5899223

That's not too bad are you in the US? I want something about that size for myself one day. I plan on buying it on my own and plan on living there alone. I don't need a wife and I can't have kids so it'll be just me. Living somewhere in the country too because fuck the city.

>> No.5899265

>>5899258
I carry 50 dollars with me at all times.

Carrying your amount would make me feel anxious. 50 bucks is nothing if I get robbed, 500 is a lot if I did.

>> No.5899267

>>5899251

just get some starter capital one card or something and make sure you don't spend more than you can pay off, the % shit doesn't matter if you aren't a retard who spends more than they can pay back

when your credit is high enough apply for a better card where you get cash back or other benefits

the end

>> No.5899270

>>5899259
>>5899260
>>5899267
thanks a mil

>> No.5899271

>>5899258

No way in hell would I ever carry that much, I've never been robbed or mugged but I'd still be anxious carrying that much. I try to not have more than $150 or so, and usually carry around $100.

>> No.5899280

>>5899193
The housing market in the UK is very different to wherever the fuck you live.
Its seen as an investment, not everyone knows about stock and shares, or other financial investments. But everyone knows how the housing market works. Throwing money away by paying someone else's mortgage (rent) is not a good investment.

>> No.5899285

>>5899267

Are you talking about paying off all at once? Sorry, but I am going to disagree with you there. A balance on your card might drop your score down maybe 50 points at most. Yeah it sucks, but if you are applying for an installment loan, you shouldn't have a balance on your revolving credit at all. Remember the annual fee will hit you like a motherfucker if your balance is high so get that shit paid off. Whether it be months or a single paycheck, get it down to 0 before you have your annual fee or applying for an installment loan.

>> No.5899288

>>5899176
Which shouldn't be legal. And no one ever tells you in high school or college.
Just an unfortunate fact you find out when already in the shit or haven't taken out a loan to pay back yet.
Being denied housing and work based on imaginary numbers.
If you're someone who doesn't need to borrow and is fiscally responsible you still show up as irresponsible because your credit score won't exist or won't be good enough since you never borrow.
It's a rigged system.

>> No.5899313

>>5899285

>A balance on your card might drop your score down maybe 50 points at most

So? That's still something you shoul davoid.

>> No.5899374

>>5899144

I am a citizen of the United States of America and I use my American Express card to buy literally everything where it is accepted, which is almost everywhere. From time to time a restaurant will ask that I pay by Visa, and from time to time a liquor store will give me a discount for paying cash... but all other times Amex.

My monthly bill is usually 2,500 to 3,000 USD.


Why wouldn't I use a credit card to pay for everything? Cash back man!!! Unless the store offers a discount for paying cash, and most don't.. then I don't see the point.

>> No.5899397

Rewards and its fast. People don't actually pay interest on it unless they are poor

>> No.5899399
File: 389 KB, 1024x1147, image.jpg [View same] [iqdb] [saucenao] [google]
5899399

>>5899374
Thankfully I'm not a citizen of the USA but I completely agree with you. Why wouldn't anyone just use their card?

>> No.5899407

>>5899165
fuck off Dave Ramsey

>> No.5899410

>>5899399

Not sure either. I think people who are paranoid about credit cards either don't understand how they work or assume that everyone racks up more than they can pay off, which I guess would also fall under the heading of not understanding how they work.

I'm not going to carry around a shitload of cash and writing checks is for old people and takes too long. I get shitloads of cashback when I use my credit card.

>> No.5899420

>>5899288
>Which shouldn't be legal.
Why not? Seems like good info to know

>> No.5899423

>>5899407
B-but muh monthly expense cash envelopes...

>> No.5899428

>>5899190
>>5899165
>>5899182
You sound so fucking stupid. I'm so surprised you found a woman who was willing to settle down with someone as fuckin dumb sounding as you.

She's probably not the sharpest tool in the shed either. Am I right?

>> No.5899427

>>5899288

If you have bad credit you're just stupid, I never learned about it in high school but it was obvious to me that you need to pay it back within a certain amount of time. 90s of googling confirmed that and I was good to go.

And as far as it being poor people who get screwed by them, that's only if they're stupid poor people. I'm poor as fuck and only have internet and a computer because my landlord has internet and I was given a $150 chromebook last christmas to use for college.

>> No.5899432

Whats the best rewards card for someone who pays their entire balance every month?

>> No.5899433

I had to change my bank to get a secured credit card a few months ago because my credit rating was 0. I couldn't even get financing on a cell phone. I make $36000 a year and have never been late on a bill.

>> No.5899435

>>5899374
So.. I originally wrote this post...

And I want to be the first to say that I am super excited about apple pay and will add my amex to it on the 20th (if possible) as well as my visa and master card.. and I will use it whenever I can. because like >>5899410 said:

>I'm not going to carry around a shitload of cash and writing checks is for old people and takes too long. I get shitloads of cashback when I use my credit card.

If I can use my phone and I don't even have to carry around credit cards anymore and it's secured by the cellphone ssID, the geolocation of the phone, single use transaction codes, carrier network authentication, AND MY FINGERPRINT it's probably the safest way to make a payment in the world...

Why wouldn't I buy groceries with my credit card over my phone? can't do that with cash!

>> No.5899438

>>5899427
>that's only if they're stupid poor people
Well of course they are, non-stupid people are almost never poor besides a few odd extreme scenarios

>> No.5899440

>>5899410
I think you are right. Poor people are scared of using cards as they can't trust themselves with them.

>> No.5899445

>>5899228
You own shit with no resell value. congrats on investing in thin air.

>> No.5899449

>>5899432

Depends on the types of rewards you are looking for.

If you travel a lot, then a sky miles card might be best... if you don't travel a lot then a cash back card might be best..

if you are super rich and would make use of concierge services and other crazy shit, then a aemx platinum card is THE BEST card out there.. the visa black is modelled on it, but it's shit in comparison in terms of rewards. Both cars are only available to about 1% of the population so don't get your hopes up though. I get offers from both all the time, but I don't bother with them because I wouldn't make use of the travel rewards, or concierge.. so i just have a cash back card.

>> No.5899450

>>5899313

Sometimes you can't help it. Savingsabin are savings for a reason, but every once in a while you get hit with emergency expenses than your savings can handle. I'm in that situation right now and had to use my card and now have 3k on my balance. It'll hurt the next two quarters for my score, but it'll be paid off by february, which ain't too bad.

>> No.5899452

>>5899438
>non-stupid people are almost never poor
untrue. Just like being rich doesn't make you smart.

>> No.5899454

>>5899432

idk if it's the best but I have the chase freedom card, you get 5% extra cash back on various things (it changes every 3 months iirc but it's shit like dining and gas) and 1% cash back on everything. When I signed up I got a free $300 after I spent $1000 or something, so you could wait for one of those bonuses. I'd guess it's probably one of the better cards.

>> No.5899458

>>5899438

Maybe in some places. There are lots of poor people who are not stupid where I live, but then again that's California. Why the fuck was I born here.

>> No.5899462

>>5899452
this

>>5899438 you're retarded

Stupid people make good money all the fuckin' time. Ever heard of unionized labor? They've got 25 year olds with IQs below 100 making $120k per year.

Smart people are also poor all of the fucking time for a huge plethora reasons.

>> No.5899463

>>5899165
0/10

>> No.5899466

>>5899452
>Just like being rich doesn't make you smart.
Not all rich people are smart, but almost no poor people are. The only exception are people with extreme health issues

Of course its not an absolute thing, but in the vast majority of cases it is, especially past the age of 22 (while before that it is also largely influenced by how smart your parents are, but being smart is largely genetic so those are hard to separate)

>> No.5899472

I put damn near all my monthly expenses on a credit card and pay it off in full every month.

>> No.5899479

>>5899462
Of course not all well off people are smart. Its very easy to be at least moderately successful in america. Its very tough to be smart and poor, even if you are lazy, you would need incredibly bad luck to find yourself poor as a smart person

>> No.5899480

>>5899466

>The only exception are people with extreme health issues

Yeah because things are the same everywhere, there totally aren't some places where the cost of living is ridiculous and you have 500 people applying for a 30k/year job (based upon linkedin since you can see how many people apply)

>inb4 relocate

You need fucking money in order to do that.

>> No.5899485

>>5899466
>Not all rich people are smart, but almost no poor people are. The only exception are people with extreme health issues

Please stop being so ignorant. This may not be true for you, but there are so many things that happen to a person throughout the course of their life that making a blanket statement like that is frankly offensive.

The most brilliant people I know are not the most wealthy. And some of the poorer people I know are some of the most intelligent.

Not to sound like some social justice warrior, but race does have a lot to do with it.

>> No.5899486

>>5899479

This is how I know you've never lived in a city.

>> No.5899487

>>5899445

He owns a property that allows him to have no rent payment to someone else. there is inherent value in that, even if it had no resale value.

I own a 250k house outright. I have no mortgage payment everymonth, which would be atleast 1200 bucks on an 80/20. So I save 15,000 a year by not having to pay anyone rent, and not having to pay a bank on a mortgage.

Could I have the 250k invested in the market and be making mad bank? maybe. last year would have been killer... but last week I would have lost about 8 grand... I like to think of the place where I live as a done deal.. whether the global economy rocks, or goes tits up, i like to know I have a place to call my own. and I have about 100k invested in the market anyway, and I own 4 rental properties with mortgages so it's not like i don't have anything invested.

People who think like me end up owning lots of property and renting it all out to people like you.

When grandpapi died he left 20 rental properties to us kinfolk. His 3 daughter recognize about 25k worth of income every month from low life rental types like you.

At family get together we just laugh and laugh and laugh at you people. 25k a month gets us a lot of bbq's to sit around and talk shit at...

>> No.5899492

>>5899480
a smart person would move out of such a place where it is not possible for them to not be poor

>> No.5899494

>>5899466

>The only exception are people with extreme health issues

I have 8 years managerial and case management experience and lost my job when my business crumbled after the owner died from cancer and the people who took over were inept. I've applied to almost 100 jobs at this point (yes, I have them all written down), including shit jobs that I'm overqualified for like working the desk at a fucking hotel, still nothing. Haven't even gotten offered a fucking interview for more than 1 place, which I ended up deciding I couldn't justify taking because I would have to move to San Francisco and I'm already poor enough.

>> No.5899495

>>5899485
>but race does have a lot to do with it
Yes, the genetics of race are definitely tied to intelligence, but thats a taboo subject thats nearly impossible to even study academically due to political pressure

>> No.5899498

>>5899492

Apparently you aren't a very smart person then because I already addressed that in the post. You can just pick up and move if you have no savings.

>inb4 spend your money better

I'm >>5899427 and I live almost exclusively off rice and beans, I'm not a fucking retard who doesn't know how to budget. The cost of living here is insane and I'd never live here if I wasn't born here.

>> No.5899499

ITT: Idiots who are in debt upto their necks get mad at people who live within their means.

>> No.5899500

>>5899486
what do you define as a city? No I have never felt the need to move to New York or something but I have lived in or near a moderately large city my entire life

>> No.5899501

>>5899498

ironic because I apparently can't type

I meant that you can't just pick up and move*

>> No.5899506

>>5899498
>You can just pick up and move if you have no savings.
>nd I live almost exclusively off rice and beans,
You don't ever get in that situation to begin with if you make moderately smart decisions (like not having kids you can't afford). If you are a single person its usually quite simple to relocate

>> No.5899507

>>5899500

One of the large cities such as LA, SF, Manhattan, Chicago, Seattle, even the silicon valley I guess; any of the ones where you literally can't rent a shack if you work 40 hours a week at minimum wage and there are fuckloads of overqualified people battling for even the minimum wage jobs. This might be the case in many other cities but I don't know about every smaller city in the country.

>> No.5899509

>>5899495
Not to mention discrimination.

>> No.5899514

>>5899506

I have always made smart decisions. I am very frugal and would never dream of having kids. If you work 40 hours a week where I live you can't even afford a shitty apartment.

The only thing you could argue is that I should have lived with my parents longer to save up money, but I was a little tired of them beating the shit out of me so I was willing to just deal with being poor.

>> No.5899522

>>5899514
Well I can't relate to that, sounds like a shitty situation and you just got fucked by your parents

>> No.5899529

>>5899522

Right. I'm just trying to argue that being poor does not necessarily mean that you are stupid. In some places of the world it is insanely expensive to live and I'm certainly not the only person who had parents who were horrible enough to force them to move out at a very early age. Granted many of those people probably are more likely to be stupid about money because they had shitty parents, but that's not the case for everyone.

I plan to get the fuck out of here as soon as I can save up enough money, although I'm not sure how that's going to happen unless I can get a second job, which I've been trying to do. Jobs are really hard to get here, I'm already working 40 hours a week at my current job.

>> No.5899535

>>5899529
>Right. I'm just trying to argue that being poor does not necessarily mean that you are stupid.
No, there are definitely exceptions, it just often means that

>> No.5899537

>>5899529
doesn't have shitty poor parents make it really easy to get college money?

>> No.5899546
File: 49 KB, 640x480, tough puzzle.jpg [View same] [iqdb] [saucenao] [google]
5899546

>>5899182
>I'm 25 and married, we bought our first home in cash.
I'd like to solve the puzzle.

>> No.5899555

>>5899537

Not until you're over 24 (or was it 25? I can't remember) for a lot of the shit because they still automatically consider you a dependent due to your age. I was able to get about 2k in scholarships and another thousand or so from fee-waiving through the school, which pretty much paid for me to get an AA and AS at a junior college.

After that I didn't want to take out student loans because I don't want that huge burden over my head since I know many people who have graduated and have gone back to working entry-level jobs, and I don't mean people who majored in something retarded like poly sci who shouldn't have gone to college anyway.

>> No.5899556

ITT: >>>/biz/ raids /ck/

>> No.5899559

>>5899556

not necessarily, there are a lot of oldfags on /ck/ who know about this sort of thing

I don't really know why this thread was made on /ck/ to begin with though

>> No.5899560

>>5899288
>how to be libtard as possible in a single post

kill yourself

>> No.5899567

>>5899288
There are definitely flaws to credit score formulas, but they are way better than having nothing

>> No.5899568

>>5899559
Groceries=food
but I think it might have been a murrica thread though

>> No.5899570

>>5899198

This is generally only possible in one of the 100 poorest counties in the United States.

Or OP got a really good deal at the bottom of the market in 2011... (pure luck that he happened to be entering the housing market at just the right time - thank your parents for having you the year they did)

People should not get ruffled about this post.

>> No.5899579

>>5899288
I completely agree. Took me a few years to get my score up.

>> No.5899584

>>5899579

it didn't take me very long to get a totally acceptable score and I don't even spend very much

>> No.5899589

>>5899567
The thing that sucks is I saved up and bought a new car in cash because my previous car was still viable and it ends up being much worse for my credit than financing a car would have been

>> No.5899594

>>5899584
I fucked mine in college, then just ignored it for a decade.

>> No.5899597

>>5899589
If you had bad credit the payments on a new car might have been pretty shitty though.

Credit is best used when you don't need it, and it is cheap. You likely wouldn't have met the second criteria at the time.

>> No.5899608

>>5899594

That's your fault for being dumb, not the fault of the credit card system.

Even if no one taught you, if it wasn't intuitive to you that you need to pay your credit card off then I don't know what to tell you.

>> No.5899630

Americans have some wacky idea that they need credit for everything even though they can save money. But they do not save any money but instead purchase subsidize phones

>> No.5899632

>>5899198

>tfw the cheapest house in my area is almost $200,000.

>> No.5899633

>>5899144
It is extremely convenient to use a credit card rather than carry around a lot of cash in your wallet, and debit cards are more susceptible to fraud. (If you get your credit card number stolen, you can cancel suspicious charges; with your debit card number, a thief can simply hoover up all your money.)

Also, most Americans have lost the healthy fear of debt; you see the same pattern with mortgages and student loans.

>> No.5899636

>>5899632
the most expensive house where the other guy lives is probably about 150k...

think about that for a moment, and then quitcherbishin.

>> No.5899641

>>5899632

its 4x more where I live

>> No.5899644

>>5899633
>and debit cards are more susceptible to fraud

Incorrect seeing as that you can do the same actions like in any credit card since they are covered by the same people

>Healthy fear

It seems like credit card system in the US started from the housing industry

>> No.5899645

>>5899641

oh sorry meant average price, my bad

cheapest is around 450k for a tiny shithole

>> No.5899654

>>5899644
>It seems like credit card system in the US started from the housing industry

Credit cards can trace their earliest lineage to single shop credit cards such as macys and sears back in the day.

Way back then, a credit card was held by the company, and when you came in to buy something, they literally placed the purchases on your card... (by writing the purchases on the card)

It was essentially a record of unpaid items you had taken from the store...

The trust relationship between consumers and stores... and credit cards have changed a lot since then...

>> No.5899656

>>5899654
It was essentially layaway but more cumbersome that absolute no sense since it's a bad practice for non business purposes

Credit cards are a scam and the US is the only country that relies on such a barbaric system

>> No.5899661

>>5899597
I don't have bad credit, I just have very little history

>> No.5899662

>>5899656
>the US is the only country that relies on such a barbaric system

You wanna know how I know you've never travelled to world?

>> No.5899663

>>5899656

How is it a scam unless you use them like a retard?

>> No.5899666

>>5899645
>cheapest is around 450k for a tiny shithole

where? Manhattan?

>> No.5899667

>>5899662
>>5899663
it's b8

you fucks will fall for anything

>> No.5899669

>>5899661
That's pretty much the same thing.

>Walk into dealership
>"I have no credit history"
>I'm totally expecting the lowest APR possible
>credit team explains why they are treating me like an illegal immigrant
>dissapointment.jpg

>> No.5899672

>>5899656
>>5899663
This. I pay off my full balance every month. I have no annual fee. Basically they just charge the shopkeeper a small fee, and I pay exactly the same amount, but it's easier to manage and more convenient to pay with.

Debit cards are a goddamn scam though.

>> No.5899673

>>5899662
You know how I know? Because such a system is a rarity in other countries but in the US they use it as a real form of currency

>>5899663
Because it seems like they easily phishing people through 3rd party businesses that deals with data mining of citizens. People who need money will have a credit card note be sent for them promising of low interest rates

>> No.5899674
File: 1.99 MB, 248x239, 1382789342860.gif [View same] [iqdb] [saucenao] [google]
5899674

>debt
>tell people to get out of debt
>they say they can't, but really want to
>tell them you got out of debt
>they say society needs debt and you are a bad person
>they hate on me for it really hard

>MFW I don't give a fuck and I don't owe nobody nuttin'

>> No.5899675

>>5899672
>debit cards are a scam
>paying something with your money that has certain terms and conditions is not a scam

>> No.5899678

>>5899672
>Debit cards are a goddamn scam though.
how? They cost you nothing. Its like writing a check for people under 70 just way faster and less cumbersome

>> No.5899681

>>5899673
Banks around here charge you for using your debit card. Like I said, my credit card is the same as paying cash on my end. Hell, I could even set up automatic payments so it would be easier than paying cash.

>> No.5899682

>>5899681
>Banks around here charge you for using your debit card.
Where is that? Europe?

>> No.5899686

>>5899681
>charge you money

Banks charge you money for using 3rd party ATM machines that are not approved by the bank


>my credit card is the same as paying cash on my end.

It's not and only Americans think like this

>I could even set up automatic payments so it would be easier than paying cash.

Like debit cards
Kinda confused, are all Americans this closed minded about how credit works in general ?

>> No.5899688

>>5899682
Sorry, I am mistaken, it's the merchants charging you.

And it's Minnesota. So Canada's neglected dick pretty much.

>> No.5899690

>>5899682
I think he is talking about those debit card companies who phish people who do not have banks

>> No.5899692

>>5899686
>It's not and only Americans think like this
Most americans use their credit card and pay 100% each month and pay no interest. Its beneficial to cash as its easier, quicker, gives your rewards and builds credit. Plus no coins

What are you talking about?

>> No.5899695

>>5899686
>my credit card is the same as paying cash on my end.
>It's not and only Americans think like this
But it's true if you pay off full balance and get a card without fees. Only the merchants end up paying more.

You could argue that it results in the customer paying higher prices from the merchant, but I could offer a nearly symmetrical argument against socialized medicine.

>> No.5899696

>>5899681
I have a debit card (bank card/check card). I use it for ordering online all the time and have all my utilities setup to auto withdraw as needed. That account is kept nearly empty and I transfer funds as I think I may need it or put in cash as I think I need.

That is the only system that involves cash. Credit cards are by their very nature not cash.

>>5899688
Minimum purchases are the only thing and it is rare anyone does that. But, they don't charge you extra.

>> No.5899697

>>5899688
I live in Wisconsin and never experienced such a thing

>> No.5899698
File: 11 KB, 271x271, 1395695239462.jpg [View same] [iqdb] [saucenao] [google]
5899698

>>5899692
>Most americans use their credit card and pay 100% each month and pay no interest.

>> No.5899699

>>5899698
ok, most white americans

>> No.5899702

>>5899698
This. Most Americans are idiots and when they realize they're going to miss a loan payment, they put the debt onto something with an even higher interest rate.

>> No.5899704

>>5899692
>Most americans use their credit card and pay 100% each month

And I wonder why credit card debt is a huge problem? Any slip and your entire credit crashes

>Its beneficial to cash as its easier, quicker, gives your rewards and builds credit. Plus no coins

So a debt card? Are Americans not aware that they have debt cards

>>5899695
Ok, why would you mention healthcare when Americans have socialized system as well? Being force onto a system and paying a huge tax

>> No.5899706

>>5899698

Not me right now. I'm chipping away 400 bucks every paycheck on my card. Shit happens, but it's better than missing payments.

>> No.5899709

>>5899704
>And I wonder why credit card debt is a huge problem
Its a huge problem amongst poor populations, not the average american

>> No.5899713

>>5899704
>So a debt card? Are Americans not aware that they have debt cards
Credit cards have much better rewards and build your credit, so its beneficial to debit cards unless you are incredibly irresponsible

>> No.5899718

>>5899709
The average American household with at least one credit card has nearly $15,950 in credit-card debt (in 2012

This is the average american

Then again they are the only country that has Rent to own stores and Cash now

>> No.5899719

>>5899144

I do so that I don't have to carry so much cash on me.

>> No.5899720

>>5899718
what about the median number? Seems like it would be much more informative to this scenario

>> No.5899724

>>5899713
>Credit cards have much better rewards and build your credit,

Look credit is meaningless and the best way to own a house is through saving and putting a huge downpayment.

>rewards

So does debit cards

>> No.5899725

>>5899718

I don't see how people get into this hole. I have 4k on my card right now and I've cut myself off until next year and my balance is zero.

>> No.5899726

>>5899704
>Ok, why would you mention healthcare when Americans have socialized system as well? Being force onto a system and paying a huge tax
Because I'm pissed about being forced into it. I already had great insurance, and I know our government fucks every goddamned thing up. I want them the hell away from my healthcare.

>> No.5899727

Why would Euro's not use a rewards credit card that automatically deducts from your bank account before interest is accrued each month for nearly all purchases, especially groceries

>> No.5899729

>>5899144
Well Debit card but yeah, cash is a hassle to carry around.

>> No.5899733

>>5899727
Because they only the negativity in any system.

>> No.5899734

>>5899724
>So does debit cards
What debit cards have rewards similar to decent rewards credit cards?

I have my credit card set to automatically withdraw 100% from my debit account every month. Why would using a debit card ever be preferable to this?

>> No.5899741

>>5899725
I dont see why would you owe that much in a credit card

>>5899726
But your private insurance is no different that before. High prices are still high but you are still paying a large tax

>>5899727
>groceries

You mean like buying in bulk?

>>5899734
Same credit card companies own the debit cards

>credit card set to automatically withdraw 100% from my debit account every month

ummm?

>> No.5899744

I have a lot of student debt, and have had a couple really bad years financially, so in order to help build my credit back up, I pay for everything with my credit card. I never use the card for anything that I don't actually have the money for, and I pay that shit off on time. I shouldn't need the credit card but apparently society has determined that regardless of the circumstances and your ability to pay, if your credit is less than stellar you're not allowed to get an apartment, a car, or any other necessities of modern life. You can have a year's rent in cash and slap it down on a leasing agent's desk, but you still won't get that motherfucking apartment for a year, and she'll probably call the cops because apparently dealing in cash means you're a criminal.

You're not allowed to live in America without being a slave to corporations. That is why we pay for groceries with our slave badges.

>> No.5899751

>>5899698
It is the only answer these people can come up with. However this is rarely ever true and only a good idea. Basically, they talk out their ass because real world situations develop all the time and people are late paying it all off and incur %interest and charges.

If they didn't credit cards would not exist at all.

>> No.5899754

>>5899741

What the 15k average? Or my 4k? For me it was because my car was in storage for a few years and needed more repairs than I expected, it was pricey.

>> No.5899755

>>5899754
>repairs

Do your own repairs since its like cooking your own food but vastly cheaper...

>> No.5899756

>>5899741
>You mean like buying in bulk?
Well that too, but really any time i get food, i get an extra 1% back on all grocery and restaurant purchases, which is a pretty common reward

>Same credit card companies own the debit cards

Yes, but they get a percent on all credit purchases from the vendor allowing them to give better rewards on credit purchases, thats why vendors always encourage you to run your debit card as debit rather than credit

Also what didn't you get about the last part

>> No.5899759

>>5899751
>If they didn't credit cards would not exist at all.
Exactly, the irresponsible few subsidize rewards and convenience for the rest of us

>> No.5899762

>>5899756
>, i get an extra 1% back on all grocery and restaurant purchases


You do know that 1% is nothing but the risks are not worth it ?

>> No.5899763

>>5899755

Man, you are asking for too much. Some people aren't mechanically inclined.

>> No.5899764

>>5899698
Typical American:

Debt
>got car loan
>got house mortgage or rental
>got student loans (until they turn like 40yo)
>got more than one credit card
>possible rent-to-own shit like 52" plasma TV

Utilities and food
>electric
>internet
>water
>health insurance
>vehicle insurance
>property taxes
>income taxes

Then one month out of a year more bills are due around the same time during the same paycheck. They freak because they think missing 1 rent payment or 1 electric payment means auto shutoff or eviction respectively. So, they grab a credit card and use that to pay off whatever they have to and buy food with it until the next paycheck. They didn't have extra money to pay the credit card that month and things snow ball from there.

Most Americans spiral this out of control and end up dying deep enough in debt that there's no nest egg for the people they leave behind (children/spouse).

>The average American household with at least one credit card has nearly $15,950 in credit-card debt (in 2012), according to CreditCards.com, and the average interest rate runs in the mid- to high teens at any given time.

>The average US household credit card debt stands at $15,607, counting only those households carrying debt. Based on an analysis of Federal Reserve statistics and other government data, the average household owes $7,281 on their cards; looking only at indebted households, the average outstanding balance rises to $15,607. Here are statistics, trends, studies and methodology behind the average U.S. household debt.

>> No.5899768

>>5899698

Most Americans who aren't retards.

I get shitloads of cashback, if the only downside is that credit cards take advantage of idiots then I don't give a shit.

>> No.5899769

>>5899759
>irresponsible few

No, it is the irresponsible that fund it all and they are the majority. It is only the few who play the system against itself and come out ahead with the points and rewards earned and not interest to pay.

Of course those people are a new thing. There was a time that interest was incurred instantly for each second, but laws changed all that like 10-15 years ago I think. Not many people really know that.

>> No.5899776

>>5899762
What risks? I have well over a year's worth of expenses in my bank account, there is no risk. I probably get on average about 1.75% back from all of my purchases, while not a lot of money its definitely something, and its completely free for me

>> No.5899777

>>5899608
Wtf are you posting about? I was one of the first to respond to OP informing him/her of why we use credit cards. My credit is fine. Read what we were posting.

>> No.5899779

>>5899763
Yeah but the costs is enough to warrant people to do his or her repairs

>> No.5899780

>>5899764
>>possible rent-to-own shit like 52" plasma TV
Thats something only really poor people do

>> No.5899781

>>5899762

What risks? The risk of being a dumbass and buying more shit than you can pay off? I'm poor as shit but I'm not so stupid as to spend more than I'm going to be able to pay back.

>> No.5899785

>>5899776
Interest risks and a total meltdown of credit ?

>> No.5899786

>>5899769
sure everyone but me is in massive credit card debt

>> No.5899788

>>5899768
>Most Americans who aren't retards.

Not literally, but figuratively yes they are. This is obvious because credit cards exist and are massive. A minority percentage is not keeping those multiple billion dollar business a float.

>> No.5899789

>>5899785
>Interest risks and a total meltdown of credit
How is that a risk that I face? Thats just not a plausible scenario for a responsible person

>> No.5899792

>>5899785

Only if you're complete irresponsible with your spending

>> No.5899796

>>5899780
Middle-class does it all the time, but true poor people really do that a lot more it seems.

>> No.5899798

>>5899785
How fucking dumb do you need to be that that tiny risk outweighs the rewards?

>> No.5899804

>>5899785
>and a total meltdown of credit

If that happened your debt won't matter at all. lol

>> No.5899805

>>5899796
>Middle-class does it all the time
I don't believe that is the case. Rent to own places are only in very low income areas, you never see them in middle class suburbs. Middle class people go to best buy

>> No.5899807

>>5899781
Yeah but the system will eat anybody no matter the situation and snow balls

>> No.5899809

>>5899807

How so? I'm really poor but I have a card where I get cash back and I don't spend more than I can pay off. How is the system eating me?

>> No.5899810

>>5899789
>responsible

Now but in future circumstance

>>5899798
>tiny risk

Ruined credit is tiny?

Rewards? You mean you can get 1% back on groceries

>>5899804
Credit cards spiral the entire thing out of control

>> No.5899811

>>5899807
well thats juts not true

>> No.5899812

>>5899809
Good but the averages are not lying and this is the real problem

And rewards? 1%? Thats some serious shilling

>> No.5899815

>>5899811
>not true
>average for credit card debt is the same price of a car

>> No.5899817

>>5899810
>Ruined credit is tiny?
The probability of it happening to me is infinitesimally small, so yes

and I get 2% on food and gas and a couple other things, 3% on select places, and 1% on everything else.

Totally worth the near 0 risk it costs me

>> No.5899820

>>5899815
a fucking shitty car

>> No.5899822

>>5899812

Yeah everyone who disagrees with you is a shill.

I'm probably poorer than anyone in this thread unless there is someone who is literally homeless and I still pay mine off. I get 5% back on groceries currently. Every little bit of savings counts for me. If by "averages" you mean people who are in debt then that's their fault. I'm >>5899494 so don't just say "oh but what if they just lost their job". If you are responsible with your money, there is no risk.

>> No.5899825

>>5899817
>The probability of it happening to me is infinitesimally small, so yes


Averages say other story

>I get 2% on food and gas and a couple other things

2% on fuel ? It's like having a member card even then you are not saving compared to the risks

>3% on select places, and 1% on everything else.

American logic

1% reward > Ruined credit history

It's like they want instant sanctification

>> No.5899827

I'm convinced. I just cut up my cards. I'm buying a brownstone in Carroll Gardens on wed. And there's no way my job is going anywhere for any reason ever so my credit score won't be looked at. Never attempting to get a loan or buy anything with out cash.

How could I have been so foolish?

>> No.5899831

>>5899820
In the US you can buy a Nissan Sentra for that price and that comes with 4 doors and fully equipped

>I get 5% back on groceries currently.

5% is not worth the risk of ruined credit I do not understand why anyone would think this is a good idea,


> If you are responsible with your money, there is no risk.

Yeah but then you lose your job and your credit takes a huge shit on your face

>> No.5899834

>>5899825
I just don't understand what you are upset about. I do not face those risks since I am responsible so yeah, a small percent back is most definitely beneficial for me. Its just not possible for this to magically ruin my credit, in fact it is beneficial to it

>> No.5899836

>>5899834
>I do not face those risks since I am responsible so yeah
>those risks

Those risks are always present or did you forget to read the binding contract

>> No.5899838

>>5899205
> implying that's a bad thing

>> No.5899841

>>5899825

Even if the benefits are small they're still something considering there's literally no risk since I'm not a dumbass. Other people being irresponsible and getting themselves into debt does not mean I'm at risk.

>> No.5899844

>>5899831
what card has 5% of groceries? I should get one of those

Also its a good idea because it is extremely easy to manage that risk. I have a couples years worth of living money saved and even if I didn't if I was irresponsible enough to lose my job I could instantly stop using the card. I don't understand how you possibly perceive this as a risk

>> No.5899848

>>5899836

Yes they're present but they are not applicable to you unless you are stupid.

>> No.5899852

>>5899836
>Those risks are always present
They are only present if you cannot afford your purchases, which is not a scenario I face, hence it does not apply to me

>> No.5899857

>>5899844

chase preffered, the 5% bonus changes every 3 months

turns out it changed and I didn't realize, currently it's 5% back from amazon

>inb4 that dumbass calls me a shill again because god forbid I want free money because I'm LITERALLY living off rice and beans

>> No.5899863

Credit cards are a scam. The credit rating system is a scam.

>> No.5899865

>>5899863
how are they a scam?

>> No.5899870

>>5899259
it's a fucking cult for people who lack common sense.

earn more (take a part-time job). spend less (learn difference between wants and needs/downsize your life).

the "debt snowball" is feel-good for retards, but paying off the highest interest rate debt first will get you out of debt quicker and will cost less money. also, calling your credit card companies and asking for a reduced interest rate can also save you money.

the only debt I'm carrying is medical (my insurance wouldn't pay for diagnostic testing or voluntary surgery, so I had to put those on my credit cards upfront, but at least I don't have cancer or multiple sclerosis -- endoscopy to get digestive tract biopsy + MRI = several thousands of dollars, even with health insurance)

>> No.5899872

>>5899865
They know niggers will fuck up and not pay it back so they sue them.

>> No.5899873

>>5899865

because he didn't know how they worked and thought he had FREE MONIES and then his credit score went to shit, just like everyone else who complains about credit cards

>> No.5899880

>>5899873
good goy

>> No.5899883

>>5899880

Isn't there a containment board that you've somehow wandered away from?

>> No.5899886

>>5899262
gotta love how stolen debit card numbers can drain your whole bank account and leave you penniless until your bank sorts things out and some will keep trying to stick you with NSF fees.

>> No.5899890

>>5899883
the entirety of 4chan is a containment board. everyone knows infinitechan is the future.

>> No.5899891

>>5899886
This. It's a lot easier to clean up a stolen credit card mess than a debit card.

>> No.5899894 [DELETED] 

>>5899883
fuck off kike