Hi!!
Credit card reward points, Oh what a wonderful thing. Get 5% back on gas and other qaulified purchases. We will save so much money!!!! WRONG!!!!
People are so funny. Lets go pay 35 dollars to fill up our tank and get 5% back. $1.75, In order to pay for 1 tank of gas you have to spend $875 in gas to get 1 free tank of gas. People tell me i can't look at this as an investment. But i disagree with them, You put gas in your car to go to work right? Your investing in gas to get a return (a paycheck) at work. Now i don't know about anybody else but i want a better return then 5% on my investments Your spending 875 dollars for a return of 1 tank of gas? Please!!!!! thats rediculous!!!
Now this one really makes me go A-wall, Flight miles on Credit cards....On Capital One's plan you have to spend $48,000 in order to get a 480 dollar ticket....Thats a really good deal at 14.40% interest.....NOT!!!
Credit card rewards do not out weigh the purchases you put on the card. On average people spend 15% more when they use a credit card, then with debit or cash. Because there is emotion when you use REAL money!!!
Oh and please don't post that if you pay the minimum each month the rewards are good. Cause if everybody paid the minimum the national savings rate would be more then 1%........The only person who wins with credit cards is the CREDIT CARD COMPANY...
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4 comments:
5% back is a nice deal on something you would have bought anyway. Unless you weren't going to buy gas, think of it as a coupon.
I've never paid a cent in CC% and I use rewards cash cards. Lots of people do. It can be a tool but it can also be a menace.
CC don't charge themselves up you know?
Credit cards are a tool to make the cc companies rich.....Fees my friend fees. You gotta be crazy to think your getting anything good out of 5% on 10 dollar purchases
Why use credit cards when you can pay the amount anyway? Credit is a tool to buy things you can't afford...Which you shouldn't be buying anyway..BECAUSE YOU DON'T HAVE THE MONEY...... You can't say you can afford something on credit...
What happens if you lose your job and you just bought something on credit? no income...Them interest charges are gonna get you.....
Um fiscaldude, you'd realze that some people have the cash to pay for stuff.
My DH has lost his job after 2 months, good thing we have an EF.
Fiscaldude, we max out retirment savings every year $23.5k this year. We also max out our ESPP 10%. We also save on top of that.
And we pay our CC in full. So think we don't have cash? We save almost 40% of our gross income.
We also make 5% back on our rewards card, I consider it a freebie.
So want to know how we have the money for CC? My MOM taught me the CC is a check register. Don't buy a single penny you can't afford.
At 13 I learned you budget every penny on a check register. I left home at 16 for college. My DH also learned CC as a check register.
YOU NEVER SPEND MONEY YOU DON'T HAVE! EVERY PENNY SHOULD BE DEDUCT from a checking account when it's spent.
So it's easy for us to afford our CC. We don't spend money we don't have.
Then maybe you shouldnt be a dave ramsey follower if your using credit cards....That in my book is hypicrit......Practice what you preach.......
Do the math, 5% rewards really isn't a freebie....But your gullible enough to believe it....Pretty funny actually...Making 2.50 for every 50 dollars you spend.....Where is the reward in that?
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