I know they need you to be a low risk, and if they fail at that it can bring a whole economy to its knees (the meltdown). But the way they provide you with money that isn't yours yet, showering you with enticing offers, then assist you to fail at paying it back in a timely, affordable way pisses me off to no end.
An aspect I hadn't considered. An unseemly business (IMO).I'd imagine that for every dozen or so people here who are bragging about their credit card rewards points, there are another dozen people who are next deep in credit card debt because they lost their job or had health problems that drained their savings.
Just keep in mind that those poor folks paying 18+ % interest on their balances are the reason why the card providers can afford to "give" you those airline miles or hotel rewards points.
I'd imagine that for every dozen or so people here who are bragging about their credit card rewards points, there are another dozen people who are next deep in credit card debt because they lost their job or had health problems that drained their savings.
Just keep in mind that those poor folks paying 18+ % interest on their balances are the reason why the card providers can afford to "give" you those airline miles or hotel rewards points.
Everything involving money is unseemly. I'm not against other people working with money, but I choose not to aside from simple transactions.An aspect I hadn't considered. An unseemly business (IMO).
Playing to people's desires is always a win, and even sometimes a win-win. Desire can turn you, with their help, into a gullible fool with money.Credit is like a very sharp power tool. Used properly it can be a useful tool, but improperly used and it will bite you big time.
Not to be disagreeable, and to me money earned through appreciated hard work, talent, education... is far from unseemly (IMO). Now, debt owed because of that education...Everything involving money is unseemly. I'm not against other people working with money, but I choose not to aside from simple transactions.
Money making ventures of the non trivial variety are generally setup to fuck people as much as possible, stopping just short enough they don't show up on your front step with a rifle. Loans, lottery, stock market, sometimes the general market... All bullshit providing as little value as possible. Exploiting the stupid, and those hard up. It's a two way street, and people shouldn't allow themselves to be exploited. That's why I'm not in favor of legislating it, but I choose not to participate.Not to be disagreeable, and to me money earned through appreciated hard work, talent, education... is far from unseemly (IMO). Now, debt owed because of that education...
In a global society based on the goal of infinite growth, with a population bursting at the seams, something's got to give. I'm old enough now to know that any global understanding, or meltdown, will happen beyond my days. I'm not afraid to leave this place.Money making ventures of the non trivial variety are generally setup to fuck people as much as possible, stopping just short enough they don't show up on your front step with a rifle. Loans, lottery, stock market, sometimes the general market... All bullshit providing as little value as possible. Exploiting the stupid, and those hard up. It's a two way street, and people shouldn't allow themselves to be exploited. That's why I'm not in favor of legislating it, but I choose not to participate.
I haven't found a way to do this, but it's not due to a lack of effort. If you figure out a way, I'd love to know. I have 11 mortgage payments every month for a total of roughly 29k. I'd be swimming in points.This got me thinking, is there a way to make mortgage payments with a credit card? Imagine how much points you could rack up. Of course you'd pay it right away, but it would basically go through the CC first. I don't imagine taking out a cash advance would work, as you pay the interest right away on that right? Also not sure how you'd automate that.
Wow! You sir have obviously played this game of life very, very well, and are the most financially successful person I've ever been in contact with.If you don't want to use it, don't, but you also shouldn't be surprised when people don't care about how much money you spend in lump sums because that's not how society works right now and it is proof of basically nothing. I have enough saved to pay for everything with cash including my house and multiple rental properties; however, that would be insane. I use credit as much as humanly possible and I make out like a bandit as a result. I took my family to Paris two weeks ago and I paid exactly $0 for the whole trip thanks to credit card rewards for things we had to buy anyway.
I financed my truck six months ago at 2.9% instead of paying cash even though it was fairly expensive at 52k. I've been making around 11% with the cash I would have used, so paying 2.9% is irrelevant to me and I still have the cash if I need it. My rental properties and house are all financed for 30 or 40 years at 3.25 to 4.5%. Again, I'm cash flow positive on all of them by a significant amount and now I can use the cash for other investments, which I continue to accumulate. I could lose every penny I have and not lose a second of sleep thanks to the additional buying power afforded to me by credit. It's all possible without credit of course, but good luck with that because no one cares what you have to say if your credit score is in the toilet or if your history is too lean. They have all of the risk if your proof is your word and a big check won't change that because single transactions don't signal responsible pecuniary policy.
I teach my kids about credit by simulating real world situations. They're young and already know more about credit than most adults. Wielding a powerful tool like credit appropriately has enabled me to be financially independent at 32, so I will teach them to do the same. If the game changes by the time it's relevant for them, they'll still have the tools to properly use whichever system happens to be ubiquitous. The idea of leveraging a system for gain with a responsible approach is an abstraction that people always seem to miss in the middle of their rants about credit. Opting out because you don't care is one thing while missing the point is entirely another.
Wow! You sir have obviously played this game of life very, very well, and are the most financially successful person I've ever been in contact with.
My personal complaints about my card company are minor, and, as a concept, credit obviously bugs me. It's heartening to hear that despite the misery some people get into with credit, others thrive, and it obviously increases their true happiness.
I've used the popular phrase before, the best things in life are free, referring to family, love, non-financial support, etc. But a free trip to Paris! Wow! I know a journalist there, and he was a great friend who helped me through the death of a loved one.
Kudos to you!
Dude! You're awesome! My backward ways don't fit a lot, it's true. Square pegs.Edit: nevermind. Not worth it. Good luck with your pre-historic financial policies.
You may be one of the few exceptions . . even junk bond funds are only yielding around 1/2 of that!been making around 11% with the cash I would have used