Saving money

[a4u2fear]

I know most of you degens don't know what saving money is, or have a bank account with money in it, but:

you should have BkofAma ***********: 3% back on gas
AMX preferred ***********: 6% back on groceries
capital one ***********: 1.5% back on everything (obviously use this for all but gas and groceries)

as long as you can pay off the entire balance each month, you are golden with these

[a4u2fear]

The **** blacked out cr3dit c4rd, hmmm SBR

[Big Bear]

thanks pal .

those percentages are small but i guess if u spend a lot of money it adds up

[a4u2fear]

No prob, SBR shortened Am3rican expr3ss, b4nk of am3rica

[easyliving]

you shouldn't be buying gas with CC to begin with, usually a 10 cent difference between cash and credit

[thunderous]

you shouldn't be buying gas with CC to begin with, usually a 10 cent difference between cash and credit

Very true! haven't bought gas with cc in over 5 years now. As a matter of fact I avoid using cc as much as possible specially at mom n pop stores because its a big expense for small businesses...how does BofA give 3% back? they steal from those small businesses in form of fees!

[rkelly110]

No, in actuality YOU are paying a higher interest rate to get that cash back. Most people don't pay their
balance every month and they are making money off you when you don't pay the balance.

True, businesses will be charged a fee, but they are getting wise and will charge you the fee instead.

When I went to get a new card I had choices. A cash back card was about 10% higher in interest
compared to one that didn't.

Like the OP said, use your card, but pay the balance every month is the only way to make out.

[a4u2fear]

you shouldn't be buying gas with CC to begin with, usually a 10 cent difference between cash and credit

I don't see this difference often, but see it this way:

most cars have a 13 gallon tank, or saving $1.3 per fill if you use your 10 cent scenario, or if you fill once a week that is 52x1.3 = $67.6 a year

if you are paying $50 a fill up and over 52 weeks this is $2600 @ 3% is saving $78, still better

[gauchojake]

Capital One just changed their TOS to tell you that they might pay you a visit at home or work. http://www.upi.com/blog/2014/02/19/C...9861392829850/

[chipper]

Good advice, thanks for posting.

[Big Bear]

No, in actuality YOU are paying a higher interest rate to get that cash back. Most people don't pay their
balance every month and they are making money off you when you don't pay the balance.

True, businesses will be charged a fee, but they are getting wise and will charge you the fee instead.

When I went to get a new card I had choices. A cash back card was about 10% higher in interest
compared to one that didn't.

Like the OP said, use your card, but pay the balance every month is the only way to make out.

i know thats right. Its easy to forget how much money you spend when you use a *********** for everything.
Especially when you take your *********** to the bar....

[Big Bear]

lol c r e d i t c a r d is a bad word here?

[a4u2fear]

i know thats right. Its easy to forget how much money you spend when you use a *********** for everything.
Especially when you take your *********** to the bar....

yep, but again, I mentioned this in OP, I'm sure most skipped right over it

[thunderous]

I don't see this difference often, but see it this way:

most cars have a 13 gallon tank, or saving $1.3 per fill if you use your 10 cent scenario, or if you fill once a week that is 52x1.3 = $67.6 a year

if you are paying $50 a fill up and over 52 weeks this is $2600 @ 3% is saving $78, still better

So basically if you are in CA where gas is close to $4 a gallon it might make sense to use the card so you get like .12 cents back but if you are in Jersey like me and pay between $3 and $3.25 cash is the way to go.

[thunderous]

No, in actuality YOU are paying a higher interest rate to get that cash back. Most people don't pay their
balance every month and they are making money off you when you don't pay the balance.

True, businesses will be charged a fee, but they are getting wise and will charge you the fee instead.

When I went to get a new card I had choices. A cash back card was about 10% higher in interest
compared to one that didn't.

Like the OP said, use your card, but pay the balance every month is the only way to make out.

I disagree. The money bank earns via interest from cardholders is for the operating costs/bad debts/profits and not incentives to customers. Any cash back/points a customer earns come directly from the fees they charge to the merchant. And obviously the merchant in turn will charge to the customer so its the consumers who ultimately pay, the big banks just screw the merchants and consumers in different styles. It's like holding your right ear with your right hand or left hand...

[rkelly110]

I disagree. The money bank earns via interest from cardholders is for the operating costs/bad debts/profits and not incentives to customers. Any cash back/points a customer earns come directly from the fees they charge to the merchant. And obviously the merchant in turn will charge to the customer so its the consumers who ultimately pay, the big banks just screw the merchants and consumers in different styles. It's like holding your right ear with your right hand or left hand...

Well, I guess my bank was feeding me shit.

[RubberKettle]

I know most of you degens don't know what saving money is, or have a bank account with money in it, but:

you should have BkofAma ***********: 3% back on gas
AMX preferred ***********: 6% back on groceries
capital one ***********: 1.5% back on everything (obviously use this for all but gas and groceries)

as long as you can pay off the entire balance each month, you are golden with these

The degenerates on this forum have a big problem with this part.

[Andy117]

I disagree. The money bank earns via interest from cardholders is for the operating costs/bad debts/profits and not incentives to customers. Any cash back/points a customer earns come directly from the fees they charge to the merchant. And obviously the merchant in turn will charge to the customer so its the consumers who ultimately pay, the big banks just screw the merchants and consumers in different styles. It's like holding your right ear with your right hand or left hand...

Merchants do just fine with CC users. People who charge tend to have higher $ transactions than those who only pay cash.