I have Chase freedom cards that give you 5 percent back on different catagories quarterly.. right now until March 31 they have 5 percent on Groceries which I abuse the shit out of because you can buy a gift card for anywhere at the grocery store.. I just did a little side job and bought 500 dollars worth of home depot cards at Food Lion.. free 25 bucks in my pocket.. july-sept they have 5 percent off gas.. which alot of stations sell the gift cards too.. Just bought my sister-in-law a highchair/rocker with 125 dollars worth of amazon gift cards.. this year alone the credit cards companies (chase and discover) have paid me over 500 bucks in rewards..
Oh and don't but anything unless you can pay it off.. paying interest is for suckers
Gotta agree on Chase Freedom and Discover for cash back. If you travel alot, get a card that gives hotel points. By far the most bang for your buck when it comes to travel points. I have AMEX Hilton Honors and my girlfriend does Marriot rewards. We recently took a two week trip to China and didn't pay for a single night hotel stay.
I have Chase freedom cards that give you 5 percent back on different catagories quarterly.. right now until March 31 they have 5 percent on Groceries which I abuse the shit out of because you can buy a gift card for anywhere at the grocery store.. I just did a little side job and bought 500 dollars worth of home depot cards at Food Lion.. free 25 bucks in my pocket.. july-sept they have 5 percent off gas.. which alot of stations sell the gift cards too.. Just bought my sister-in-law a highchair/rocker with 125 dollars worth of amazon gift cards.. this year alone the credit cards companies (chase and discover) have paid me over 500 bucks in rewards..
Oh and don't but anything unless you can pay it off.. paying interest is for suckers
BUY AND THEN PAY IT OFF!!!!! HAVE THE CASH AND USE CARD AND THEN PAY CARD. DO NOT LOOK FOR REWARDS IT IS A RIP OFF!!!!! REWARD YOURSELF AND OPEN A SAVINGS ACCOUNT AND USE CREDIT CARD TO BUILD CREDIT BY HAVING THE CASH IN HAND TO PAY CREDIT CARD!!!!! BEST OF LUCK!!!!!!!!
you don't need to "build credit" when you pay cash for eveything. Credit cards CAN be okay if you religously pay the balance every month.
Take some advice....don't get invloved with credit. Cash is king, simple, definite. No payments....done.
Live within (or under) your means, save and invest. In 10-15 years you will have enough money to truly start relaxing about money. Don't buy into payments, they aren't necessary.
Wow, it sounds like people have absolutely zero self control when it comes to spending. Of course you should pay off the balance monthly. Credit cards for me, are meant to be for pure convenience. The rewards are just an extra perk. Since college, I have yet to carry a balance except one time when I had an offer for zero percent interest for 12 months. In that situation, I actually deposited money into my TDAmeritrade account to buy up some stock. To tell this kid not to carry a credit card is wrong. You should be advising him on how not to abuse it and let things get out of hand. Credit isn't the most important thing in the world, but it doesn't hurt if he hopes to buy a house one day. Seriously doubt he's going to pay cash for that.
So my advice is, get a card with good cash rewards and NO annual fee. Best choice would be Chase Freedom. Something else to make sure of is, never spend more on the card than what you have in the bank at any given moment, less rent, bills, etc. Treat your credit card like it is your cash. If you can't afford something with your check card, then you can't afford it with your credit card. Then pay it all off each month. You definitely don't want to get into a bind like some of these other fucks in America who have spending problems and like to go shopping like women do.
And like some of the guys above said, save and invest! If you got extra money that is just sitting around, don't spend it. Open up a savings account or if you want to take a little more risk, open up a trading account. Be smart and you'll be reaping the rewards later in life.
Wow, it sounds like people have absolutely zero self control when it comes to spending. Of course you should pay off the balance monthly. Credit cards for me, are meant to be for pure convenience. The rewards are just an extra perk. Since college, I have yet to carry a balance except one time when I had an offer for zero percent interest for 12 months. In that situation, I actually deposited money into my TDAmeritrade account to buy up some stock. To tell this kid not to carry a credit card is wrong. You should be advising him on how not to abuse it and let things get out of hand. Credit isn't the most important thing in the world, but it doesn't hurt if he hopes to buy a house one day. Seriously doubt he's going to pay cash for that.
So my advice is, get a card with good cash rewards and NO annual fee. Best choice would be Chase Freedom. Something else to make sure of is, never spend more on the card than what you have in the bank at any given moment, less rent, bills, etc. Treat your credit card like it is your cash. If you can't afford something with your check card, then you can't afford it with your credit card. Then pay it all off each month. You definitely don't want to get into a bind like some of these other fucks in America who have spending problems and like to go shopping like women do.
And like some of the guys above said, save and invest! If you got extra money that is just sitting around, don't spend it. Open up a savings account or if you want to take a little more risk, open up a trading account. Be smart and you'll be reaping the rewards later in life.
Again...fuck your credit score. It isn't needed when you pay cash.
And why can't you pay cash for a house? If you look at what you wind up paying back during the life of the loan, you actually pay many thousands more for the house. Same for anytime you buy something with credit....you don't actually pay what you think you are paying.
House with a sale price of 150,000:
With a 15 year loan at 6% and 20% down ($30,000 cash, financing $120,000) you wind up paying over $210,000 for the house,
with 50% down and same terms as above, you pay around $190,000 when all is said and done.
with $150,000 in cash...you pay $150,000. No payments, no worries about what happens if you lose your job, no PMI.
It is even cheaper to rent while you save up for that house. In the above example, if you pay $800/month in rent for 15 years while you save that $150,000, you pay around $15,000 for rent. Still less money than even 50% down and financing.
Unfortunately, you can't rent a car with shower curtain rings.....
Again...fuck your credit score. It isn't needed when you pay cash.
And why can't you pay cash for a house? If you look at what you wind up paying back during the life of the loan, you actually pay many thousands more for the house. Same for anytime you buy something with credit....you don't actually pay what you think you are paying.
House with a sale price of 150,000:
With a 15 year loan at 6% and 20% down ($30,000 cash, financing $120,000) you wind up paying over $210,000 for the house,
with 50% down and same terms as above, you pay around $190,000 when all is said and done.
with $150,000 in cash...you pay $150,000. No payments, no worries about what happens if you lose your job, no PMI.
It is even cheaper to rent while you save up for that house. In the above example, if you pay $800/month in rent for 15 years while you save that $150,000, you pay around $15,000 for rent. Still less money than even 50% down and financing.
Again...fuck your credit score. It isn't needed when you pay cash.
And why can't you pay cash for a house? If you look at what you wind up paying back during the life of the loan, you actually pay many thousands more for the house. Same for anytime you buy something with credit....you don't actually pay what you think you are paying.
House with a sale price of 150,000:
With a 15 year loan at 6% and 20% down ($30,000 cash, financing $120,000) you wind up paying over $210,000 for the house,
with 50% down and same terms as above, you pay around $190,000 when all is said and done.
with $150,000 in cash...you pay $150,000. No payments, no worries about what happens if you lose your job, no PMI.
It is even cheaper to rent while you save up for that house. In the above example, if you pay $800/month in rent for 15 years while you save that $150,000, you pay around $15,000 for rent. Still less money than even 50% down and financing.
Adam, where do you live? I'm in Dallas, and assuming that one day I have a child or two with my future wife, seriously doubt I'm going to find a big enough house for us in a good neighborhood for 150k. Between the both of us, we could afford 150k as we speak, but we would be moving into a shit area with more crime and weaker schools. But lets say we wanted to move into 250-300k home right now, it doesn't hurt to have good credit and finance it.
Don't get me wrong, I agree that cash is king. Nothing wrong with trying to pay most everything off with cash. But what if he, like myself, wants to start his own business one day. Where is he going to have any capital if he drops all his money on a home? Or if he comes across any other investment vehicle that can bring him some good returns that exceed his mortgage interest? He would be wishing that he had that cash on hand, wouldn't he.
I've rented plenty of cars for personal use. Whenever we go skiing in Colorado, we have to fly into Denver. Ski resorts are about an hour away, and we always rent a car. Heading to Lake Tahoe next weekend for a bachelor party and we have to fly into Reno. Our hotel is over an hour away, so we'll be renting a car. Have also rented a car in Vegas as well. Renting cars for vacations and things like that is pretty common, especially after flying to your destination.
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