Reminder that Credit Cards are bullshit and should only be used SPECIFICALLY to improve credit score

>chip

not everywhere in burgerland has chip readers unfortunately, also waiters take your card out of sight at restaurants and i'd rather them steal visa's money than mine

whoops, don't feel too bad. lots of people make the same mistake you did (in fact, credit card companies make money on your ignorance).

> Still thinking debt is a normal thing. Good going goy

>not everyone has a chip reader
Okay? Nothing wrong with just having cash on hand. If you don't have AT LEAST 20 dollars on hand, then wtf r u doing?

>waiter steals ur money
What? This just sounds like an oppurtunity to either nab that person or sue the restaurant so they either find said person and fuck them over, or you get paid big bucks

You're still protected as long as you run it as a credit card transaction. And unless you give your waiter your debit card PIN he won't be doing any debit card transactions.

Don't you want the Black Card, Jow Forums?

Attached: amex centurion card.jpg (961x640, 155K)

>putting yourself in a situation where you now have financial charges against you and at a net loss is somehow good
>but that's okay goyim! You're a responsible, MATURE person! Just keep going goy! You'll NEVER run into debt! FREE MONEY GOY! FREE MONEY FOR YOU UNTIL YOU OWE US ONE HUNDRED THOUSAND DOLLARS!!! BUT THAT'S DEBT SO IT'S A GOOD THING!

Attached: 1514149973797.gif (382x379, 388K)

Fuck now. How did a credit card get to be a status symbol, any way? The privilege of going into debt?

It's ridiculous the amount of marketing these companies do. I get offers in the mail all the time. The worst part is they always start with "Congratulations! You've been pre-approved for...." Congratulations my ass you're just after me shekels.

This goy knows what's up. The worst part is you plastic addicts have driven up the price of everything because merchants have to make back the 3% that visa takes from them.

Looks like credit card shills gave up and went home.

its not.

Attached: 1523405908554.png (485x409, 55K)

going into debt is absolutely a privilege. if you have bad credit but want to start a business, you will be on your hands and knees asking for that loan. if you intend to make money on your money, like you should, then you will be better off the more you have. if you have a bad financial track record, you will never have any debt because people will never be willing to lend you money because they are expecting you to fuck up.

thats why a black card is a status symbol: you're good with your money, enough so that people trust you with theirs.

>I get offers in the mail all the time. The worst part is they always start with "Congratulations! You've been pre-approved for...."

also, take that shit dumbass. I started off with a 2 thousand dollar limit and now am at 12k. I only intend to buy things in cash, so I know that if I end up wanting to do or buy something expensive, I can pay for it on credit, reap the benefits of the card (cash back, air miles, or what have you) and then immediately pay back in cash. in addition, your credit score makes you more trustworthy with money.

basically people who hate credit are bad with money

Yeah no credit doesn’t matter, let me just unzip my duffel bags of cash to pay for this million dollar house; morons.

only use for car rental as the companies do not accept debit cards. Also whether you spend in euros or pounds, a lot of pocket change always builds up if you pay by cash.

>these are the retards that get credit cards
wew lad

>what is a debite card
Wew lad go be retarded elsewhere.

>you will be on your hands and knees asking for that loan.
Why can't you understand that I don't want a loan. For anything. If I need capital I'll save it the old-fashioned way and grow it through investments.

>basically people who hate credit are bad with money
Why are you so concerned about your debt-slave score? The only thing that really matters is net worth.

Sadly, this is probably one of the few real excuses for using a credit card. Rental companies are a bitch and a lot of them won't take debit. That, or they put huge holds on your account.

its got nothing to do with literal cash, hes saying hardly anybody has "cash on hand" (read: expendable savings, in debit card form or anything fucking else) to buy something exorbitantly expensive. am i being trolled?

respond to the good posts dumbasses
if your buddy asks you for a hundred bucks, youre telling me youre not doing him a solid if you agree to lend it to him? youre saying that by not paying you back, he isnt abusing a privilege? going into debt is a privilege, brainlets.

glad we dont have that system. sounds retarded. you can't build up a credit score in my country. but you can reduce it by not paying bills and shit

i never ever use credit cards

>If I need capital I'll save it the old-fashioned way and grow it through investments.
then you just dont understand the economy enough. if what you're investing in is going to (mostly reliably) make you money, like a business, the difference between starting it now and in 6 years when you have saved up enough capital from your desk job is insane. in that 6 year period, your business may have paid itself off and become more profitable than your work. that's why people are willing to go into debt to go to school: it's economically rational as long as you can become gainfully employed, because the skills you get by going into debt will ideally outweigh the amount you owe and become more profitable in the long run.

I would never loan anyone money for anything because it changes relationships. If my buddy really needed $100 I would just give it to him.

Just cause you have the privelage and ability to go into debt doesn't mean you should. That's like saying I have the privelage to end up in the fucking hospital after I suffer a mortal wound.

There is no substantial benefit to going into debt other than proving yourself worthy to the bank so you can just go up a level and possibly risk HEAVIER debt because of loans and financing for large payments.

>in that 6 year period, your business may have paid itself off and become more profitable than your work.
Or, it may fail like 50% of small businesses. And now you're stuck with a mountain of debt you can't pay back. No thanks.

>as long as you can become gainfully employed
That's a big assumption. Plenty of college graduates are unemployed or underemployed. Student loans are a cancer.

then that's you, but the real world doesn't operate like that. you'd be surprised to hear how many people prefer a fair trade over handouts. if I asked somebody for money, you better believe I intend to pay them back, because I hold a level of pride in self sufficiency.

your parents probably paid for your college if you've even gone. that's not wrong or anything, but you just don't sound like you see the big picture.

>That's like saying I have the privelage to end up in the fucking hospital after I suffer a mortal wound.
you live in the first world, so you DO have the privilege to end up in a fucking hospital after you suffer a mortal wound, you dumbass. hahahahah literally check your fucking privilege shitlord

If someone is so broke that they had to ask you for a $100 loan then there's a good chance they aren't going to pay you back.

>your parents probably paid for your college if you've even gone.
I'm in my last semester (God willing) of my Ph.D. in computer engineering. I've paid my way through graduate school by working for the school as a teaching/research assistant. I paid for my undergrad using student loans which was a big mistake. So fortunate to have been able to pay those off already.

>Or, it may fail like 50% of small businesses. And now you're stuck with a mountain of debt you can't pay back. No thanks.
the other option is that nobody is able to take out loans, so fewer businesses exist. Trump started in real estate on a "small loan of a million dollars". by going into debt, YOU are the one taking the risk. if you don't feel competent in your business and financial sense, don't take loans. the rest of us wouldnt mind having the option.

>That's a big assumption. Plenty of college graduates are unemployed or underemployed. Student loans are a cancer.
so... youd rather go to school in cash 5 years later and have less time in your life to work your skilled career, even though with a smart choice you could have those loans paid off in the same time and be working the job longer?

youre financially irrational

>If someone is so broke that they had to ask you for a $100 loan then there's a good chance they aren't going to pay you back.

holy shit, nice job completely missing the point. Im done replying to you
>I paid for my undergrad using student loans which was a big mistake. So fortunate to have been able to pay those off already.
you paid them off... after starting in undergrad early and making connections in the school... which allowed you the well-paying work to pay off your loans... and you think it was a bad idea? oof. stick to computers. economics is not your thing.

I'm not sure Trump is a good example because he has quite a lot of debt. I prefer people like Warren Buffet.

I could have paid for school by applying for more scholarships, going to community college the first two years, and actually saving the money from my summer internships instead of blowing it all on booze and restaurants.

>Reminder that if a nigger steals your debit card data, they have access to everything in your checking and it's your headache to try and get it back before your do nothing bank gets involved

Didn't read your post in the thread before posting, thanks for doing my work for me user

It was a bad idea. I paid my loans off before interest started accumulating but I still paid an extra $3,000 to $4,000 in "fees." That's money down the drain.

And I hate to break it to you, but it doesn't really matter where you go to school as long as it is well known and/or has the proper accreditation. Graduate schools don't care and companies don't care either. It's all about networking, GPA, and test scores.

Looks like you didn't read my posts either.

Debit cards don't have rewards programs, you fucknut. I pay for EVERYTHING with CC and I literally get thousands of dollars a year back in my pocket for that. And you think you're going to convince me to use a debit card which has literally zero benefits?
KEK

>Get credit cards with 0 annual fees
>5% cashback on purchase
>Use it like a debit card
>Pay it off in full every month (no interest)

I'm planning to make a $2000 purchase next month, I'll do it on my credit card and enjoy getting basically $100 back.

Cardlets are just children with no brain to play the game.

This is why I'm 6'3" and fuck girl's vaginas every night and you are 5'4" fapping to ponies.

A. Some debit cards have benefits (but they are usually a lot lower).
B. Seriously? Thousands of dollars a year back? That would mean you are spending $100,000 a year on your credit card. Who gives a shit about a measly 1-3%? You can save more money than that by not using a card in the first place and being very frugal with your purchases.

yikes
>these are the people that have credit cards

Credit cards are the most marketed product in America. If you don't have a credit card it means you're smart and responsible with money.

Also, congrats on the 5%. Depending on the product I would probably be able to negotiate a lot lower than that with cash.

Don't waste your energy on these morons. The kikes are literally precumming, and foaming at the mouth hearing them defend the idea of going into debt

>You can save more money than that by not using a card in the first place and being very frugal with your purchases.
It does not follow.

>credit score
sucks being poor

Do you live in Asia or something?

I feel bad for them though. Everyone in this country is brainwashed to be a debt slave and people are miserable because of it. They will never know the security and freedom of sitting on a pile of cash with no debt.

I used to be just like them until I opened my eyes. My family and friends all think I'm crazy but then again they're all basically broke trying to live a lifestyle they can't afford.

Ok guys let me see if anyone here has a solid answer to this.

How can you make money using your credit card? Like what can you use a credit card to invest in?

True, I guess what I should have said is that people who mindlessly swipe plastic are going to spend a lot more money on useless crap than people who budget carefully with cash. It's psychology mixed in with a little common sense.

No, but my wife is Asian. They're the only ones who fully support my "transformation." To them, saving money and avoiding debt is obvious.

how do xou save? just keep in debit or invest elsewhere?

I use my CC for everything but pay it off right after I use it.

credit cards are better. get cash back on whatever i buy 1-3%. debit offers me nothing and neither does cash. 1-3% is better then nothing.

The only REAL way to "make" money with a Credit Card is by cash-back, which is just a small percentage of what you actually used on that card. The only way to make "thousands" like other dudes ITT are saying is if you are spending literally HUNDREDS of thousands on your Credit Card.

You use a Credit Card to invest in purchases that you currently don't have the money for. That's literally it. You are obtaining an item on the terms that it is being "credited" towards you and you will now have to pay it back later. If you don't, you are now in debt, but you now ALSO have interest to pay on top of that, so you not only owe that 50,000 dollars of merchandise you bought, but now you also owe more depending on an interest rate that is applied to that debt, which can increase it drastically.

Any smart, reasonable person will see the inherent flaw in this.

>If you don't have the money for something.
why the fuck are you putting yourself in a position to where you need to have that money? If you are going to obtain that money to pay it off- then why tf did you need to use your credit card then? Just wait until you have the money, and get it right there.

>If you have the money to pay it off right there
Then wtf r u doing with a credit card?

It's a useless piece of plastic that serves to obtain something short term that can potentially lead to disaster.

debit cards dont give me $50 in cash every 1-2 months

I followed the Dave Ramsey baby steps. But the secret to saving money that's so obvious is: spend less than you make! If you're a natural spender like me then it helps to make written budget at the beginning of the month where you pre-allocate all your income to various categories, one of the categories being savings. It's mostly a behavioral change if you make a minimum amount of money.

One of the things I found is that it didn't matter whether I was making $17,000 a year, $30,000 a year, or the equivalent of $80,000 a year---I spent every paycheck and had nothing left to show for it. Change your behavior!

The 1-3% is priced into what you buy though, so this is money you wouldn't have spent if nobody had cashback credit cards.

Honestly I don't understand why this is allowed.

no it isn't. 1-3% is applied to everything. even if i paid in cash i'd still pay the same amount as would if i used a credit card. you don't get a discount for paying in cash or discount anywhere.

this

exactly. nobody is getting rich by chasing 1% cashback rewards. far better to save as much money as possible and invest it

>hurr I'm spending money without spending money but I get 1-3% of the money I pretended to spin!
>And the only downside is that I'm potentially setting myself up for crippling debt!

Yeah you're post just solidified what I was thinking. I've had my credit card for the past year and have always paid it off in full but the only reason I have one is to build up credit. It is literally a bullshit system designed to trap you.

How about loans? Do you have any ideas on where to invest money from a loan to make a good return on?

you absolutely get a discount for paying in cash if you know how to negotiate it. especially when it comes to things with ridiculous mark-ups like jewelry.

no you don't. the fuck do i haggle with chevron to reduce my gas price? or tell loblaws to give me a discount on broccoli? or maybe haggle with my cell phone provider for a discount if i mail them a cheque? get the fuck out of here.

lmao wat
I just use it for restaurants/gas/clothing, since thats what I get the most 2-3% on.

explain how im going into debt when its set to automatically pay my balance off every month

>not using a credit card to get energy points for free shit

>Do you have any ideas on where to invest money from a loan to make a good return on?
That is such a terrible idea. If you're going to take out a 9% personal loan you've got to at least find an investment with an ROI of 10+. And at that point you're back in credit card rewards territory with only a few percent gains but a lot of risk.

You know the only thing with a guaranteed ROI? Better than even a US treasury bond. It's called paying off debt!

going into debt to consume is bad debt.

going into debt to to be productive, like investing in a business, is good debt.

Attached: 1526568063787.png (325x271, 127K)

>the fuck do i haggle with chevron to reduce my gas price?
funny you should mention that. truck stops here give you an automatic discount on gas for paying with cash. so there goes that argument.

>or tell loblaws to give me a discount on broccoli?
not going to happen, but maybe you could take your cash to the local farmer's market and save a lot of money there?

>or maybe haggle with my cell phone provider for a discount if i mail them a cheque?
probably won't save any money on your plan but you can definitely get a discount on the phone you buy/

The only thing I've used a loan to buy was DECRED and I get dividends each month from staking my coins. The value is also going up so it has been a good investment (thus far)

Have you paid back the loan yet? Do you realize how much risk you're taking? What was the principle amount and interest rate?

maybe if you lived in an actual city instead of a fucking flyover. gas prices are clearly labeled here. you pay whatever price is on the pump whether it be cash, debit, credit, it's all the same. if i can get 3% back on using credit for gas, you damn right i'll use credit.

the fuck do i want to waste gas to drive further away to a farmers market when i can get just as cheap produce and meat and whatever i need from loblaws across the street? the fuck? telus won't say 'oh here's $50 dollar discount for buying our phone with cash' what kind of fucked up country do you live in? you go to your apple store and ask them if they'll give you a discount if you pay in cash?

the fuck is wrong with chu.

Loans are like a next level to Credit Cards in todays society. Bank looks at your Credit Score (which BY THE WAY, is determined by how well you handle their crony system). If you have a bad credit score, you either have to be persuasive, or you don't get a loan. You are then given money to do something, on the terms that you pay it back.

Notice something? It's the exact same fucking thing. You are being given money that you don't have on the grounds that you will somehow pay it back.

The ONLY reason to get into Credit Cards or Loans is if you are actually moving into a position in which you will be investing in things, such as a BUSINESS.

People who don't own businesses should have nothing to do with loans. If you are just trying to get a house, just amass the funds needed to pay for it. Don't be a retard and put yourself in debt just cause YOU NEED THE HOUSE RIGHT NOW

Why do you advocate saving for a house but say it's ok to borrow for a business? Why not save money for your business and grow it slowly and profitably?

It was 10,000 at 12% (really high I know) I have to pay back 12,500 in total. So far I'm down to around 10,000 and my investment is holding securely during this bear market and I get dividends. I hope it will double or triple by 2022. I am paying back 259 per month. Probably the riskiest thing I could have done but I was aware of that and said to myself I am willing to ride it out until 2022. I am young so I wanted to take this risk now. It was not wise but then again some of the most successful investments were not wise at all but got lucky and it paid off.

Because time is money, and sometimes you need to take risk and invest in something on the grounds that you will get more money later, but the huge difference here is that businesses are usually much more suited to handling debt.

retards ITT though think that regular people and consumers should be dabbling in credit cards and debt.

>using debit accounts for anything other than paying credit card bills
What are you? Poor?

>some of the most successful investments were not wise at all but got lucky and it paid off
nah young blood, that's just called gambling. sure, sometimes it pays off but most of the time people end up broke.

you should be saving that $259 a month instead and investing it over a lifetime. Putting that into a tax-free account from age 20-67 will get you over a million dollars.

life to me ends at 40. I need money now not at 67. I do agree with most of your sentiment throughout this thread however.

it's impossible to have business debt when you're starting your business. the bank is going to make you personally guarantee all the loans. at that point it's personal debt and extremely risky since something like 50% of small businesses fail within 5 years.

I am saving money also. I try to save a minimum of 200 a month but its usually 500.

That's good, man. That slow and steady saving has a much greater chance of paying off than your crypto. Although I hope it works out for you!

Thank you brother, peace and blessings to you. I hope we all prosper.

Yep. It's all part of the spiral of escalating overconsumption and inflation. Gg fiat.

Should have clarified big business.

Well that kind of stuff is above my head. I do think that a lot of long-term debt looks really bad on a balance sheet. Tech companies in particular are really bad about this. They end up giving out convertible instruments that dilute the rest of the shareholders. But then again I know basically nothing about "real" investing. I just stick with my good old VTSMX!

Only a retard would not take advantage of cash back rewards from responsible spending.

this is the only way to use a credit card.

>this is why muh 6.3 and and am a degenerate
Fuck off with the larping kiddo, Mom says you've had enough Internet Time today.

Or pay it off before the interest free period ends wach month. Cashflow is king. Especially good if you take a monthly salary. E.g I’d have to potentially sell some of my stocks this month if I didn’t have a credit card.

>money buys opportunity for a job that boosts potential earnings by $20,000+/yr
>That's money down the drain

What does it feel like to have a room temperature IQ?

Attached: 1528605031762.jpg (644x386, 237K)

>Putting that into a tax-free account from age 20-67 will get you over a million dollars.
>credit is bad
>but you should invest

hahahahahah what the sweet fuck do you think investment is? how do you think banks get the money to pay you back? they loan out your money. you are utterly hopeless.

anyone who thinks debt is bad is literally retarded
early societies functioned on an IOU system
in fact, that's what cash is: just the government's IOUs to you.
cash means: "give this IOU to us and we'll erase the tax debt you owe us"

the point is that instead of having to wait to buy shit you can buy it today
normally you'd have to wait 30 years to be able to afford a decent house
with a voluntary credit system, you only have to wait like one year.

for your information, investing in a company is literally loaning them your money hoping for a return, which most of the time, they are able to provide with the extra business they can generate with that capital. buying stocks of a publically traded company means they are *virtually* in debt to you, and your stocks going up in price is an appreciation of that stock's value based on how they use the money you gave them for said stocks.