It depends on what you are looking for. I use Amex Platinum for most of my CC purchases. Top notch customer service if you ever have an issue with a merchant over a charge.
This thread is not Dave Ramsey approved!
I was a little confused, I thought this was the all cash Ballers club.
I’ve stated several times I don’t buy into that philosophy at all. Why would you use your principal when you can make money work for you while using someone else’s money?I was a little confused, I thought this was the all cash Ballers club.
Given my tolerance for risk, my securities average 11% year over year. Credit cards get 24%. It’s not good math.
If you're getting better than 20% annual return you gotta hook us up
Don’t take anything I say here too seriously, I’m just here to have fun. (well, most of the time).
This thread is not Dave Ramsey approved!
His “plan” is basic common sense. I’ve never read his book either, but I find his show hilarious to listen to at times.
So far I only have one vendor in Canada that puts a 12.5% surcharge on CC payments, so I pay them with ACH. Everyone else seems to be fine with a CC...or at least has refused to offer me a discount if I pay in a different manner....so I'll keep using my CC.Anyone else that uses CC to pay for bills starting to see push back? Our largest vendors are starting to charge for CC payments and instead want ACH. Sucks as it’s a big chunk of cash back we’re losing.
Yeah it might be starting in the tech industry but many of our vendors are starting to charge 3-4% for CC payments. I totally understand as we've been doing it forever and have always had our clients primarily pay by check but wasn't sure if it was happening in other industries as well
Hahaha. Nah. I was speaking more to the general thought that everything should be bought cash.If you're getting better than 20% annual return you gotta hook us up
Yep, over a trillion now. Added $10Billion in July
I don’t necessarily pay them off every month. Sometimes if I know o have a big check coming in but want to purchase a big item sooner instead of waiting I’ll put it on CC. So for that couple / few months before I pay it off, I’d rather have 17% it stead of 25%. Not to mention it’s just the principal really!!
I wasnt speaking to credit cards. I was speaking to the general statement around here all the time that people should pay only cash for things or don’t buy it. There’s plenty of times I can think of where borrowing makes more sense. Specifically regarding credit cards the example I pointed out above. Big ticket item you buy then pay off in a couple months. Take the hit in the interest. Time is money and quality of life matters. But mostly what I was referring to is creative financing. Such as using a line of credit against your investments to buy big ticket items instead of cash or standard loan. Then using the interest yoire making in your principal to pay back the credit line. Never touch the principal investment. Smart money.
If the ballers were smart, they would pay on a CC, to become a bigger baller..
Have you seen the Chime app commercials?
I travel a ton. Can you elaborate on the lounges ?
Lol. Exactly. I have two cards. Don’t use them much and I don’t owe anything (right now) on them. But I don’t mind carrying a little debt on them for a few months if it makes sense. That’s what that shits for. Like I said above, for me, quality of life is important. More important than getting down to the penny on interest vs paying cash etc. and The convenience is really what I’m after. But also, on the flip side of that, I don’t want to get overly fucked by the cc companies either. Just looking for the best deal on one to replace the shitty one I have. For the way I use them, it sounds like the Costco one is the ticket. We’re members, we go to Costco. We like Costco. Seems pretty cut and dry and terms sound right.
GF and I use that card too, pays for the higher Costco membership, plus we get a check at the end of the year.Lol. Exactly. I have two cards. Don’t use them much and I don’t owe anything (right now) on them. But I don’t mind carrying a little debt on them for a few months if it makes sense. That’s what that shits for. Like I said above, for me, quality of life is important. More important than getting down to the penny on interest vs paying cash etc. and The convenience is really what I’m after. But also, on the flip side of that, I don’t want to get overly fucked by the cc companies either. Just looking for the best deal on one to replace the shitty one I have. For the way I use them, it sounds like the Costco one is the ticket. We’re members, we go to Costco. We like Costco. Seems pretty cut and dry and terms sound right.
In that case if you are being that 'disciplined' I would have two cards. One you use to maximize points when you plan to pay it off by the end of the month (these cards typically have higher rates). Then you can find a second card with a credit union or similar that has less perks but lower rate for when you want to carry a balance. You'll not find one that does both, the CC companies are in it to make money...Lol. Exactly. I have two cards. Don’t use them much and I don’t owe anything (right now) on them. But I don’t mind carrying a little debt on them for a few months if it makes sense. That’s what that shits for. Like I said above, for me, quality of life is important. More important than getting down to the penny on interest vs paying cash etc. and The convenience is really what I’m after. But also, on the flip side of that, I don’t want to get overly fucked by the cc companies either. Just looking for the best deal on one to replace the shitty one I have. For the way I use them, it sounds like the Costco one is the ticket. We’re members, we go to Costco. We like Costco. Seems pretty cut and dry and terms sound right.
I had one like that…expired a few years ago and the new didn’t work quite as well
Every big money guy I know uses credit cards exclusively. Whether it’s the purchase protection or points, it’s a no-brainer.
Yeah, most guys I know that own their own businesses push all Expenses through credit cards to get the points. Buddy that owned an aerospace company would buy all his machinery with his credit cards and get matching points for dollar. Machinery in the hundred of thousands of Dollars range. He and family flew first class everywhere and never paid a dime for tickets. Rich getting richer because they play the game. And the more money you have the easier to play the game it is.
We do a US wide trade , a few have a small surcharge to us as many states allow it , In California the law prohibiting it is "still on the books" however the AG admits in plain language that the challenges against its prohibition may not be enforceableAnyone else that uses CC to pay for bills starting to see push back? Our largest vendors are starting to charge for CC payments and instead want ACH. Sucks as it’s a big chunk of cash back we’re losing.
I'm guessing that was the "beginning of the end". Sure was nice while it lasted
