Debit vs. Credit Cards

[LD1]

I think your good times regarding cash back are about to end...

Congress Is Trying To Pass a Bill That Will End Credit Card Rewards Programs

This month, congress will vote on a bill to eliminate almost all the funding for popular credit card reward programs like cash back and travel points. This Legislation would allow retailers to process...

www.yahoo.com

The govt should just stay the hell out of if. If others want to carry a balance and pay 18% interest....and I can claim my 2-3%....no harm no foul.

Let the govt get involved and they will royally screw every party involved. And everyone will suffer.

This isn't the govt job. This is the fundament issue with this economy....the govt always wanting to stick their nose where it don't belong rather than let the free market run its course.

 

[goeduck]

What lawmakers in all countries and of all political persuasions seem to forget is that businesses cannot simply eat losses. Ultimately, all business expenses are paid by customers, employees, and shareholders.

Yep! In before the thread lock.

 

[tallyho8]

For those looking for a good reward card, this is my recommendation, especially if you travel a lot.

As cashback cards go, The Chase Freedom Unlimited is as good as it gets. It has no annual fee, 6.5% cashback on travel, 4.5% on dining and drug stores, and 3% back on anything else. Its intro bonus comes in the form of an extra 1.5% on top of anything you buy for the first year up to $20,000, potentially $300 extra. And no fees.

 

[5030]

Never had a debit card, don't want one. My balance gets paid in full every month. Must be why my FICO score hovers around 825 constantly. Credit is a non issue here.

 

[two_bit_score]

For those looking for a good reward card, this is my recommendation, especially if you travel a lot.

As cashback cards go, The Chase Freedom Unlimited is as good as it gets. It has no annual fee, 6.5% cashback on travel, 4.5% on dining and drug stores, and 3% back on anything else. Its intro bonus comes in the form of an extra 1.5% on top of anything you buy for the first year up to $20,000, potentially $300 extra. And no fees.

That’s probably better than the new Wells Fargo card that gives 2% back on everything and has no fee.

I'm not in the market for a new card but if I was that would be attractive.

 

[YanmarFever]

If I ever wanted a large ticket item I just saved the money to do it, cars, utv, or whatever, it sure taught me that patience pays off.

We dont play the credit card games or pursue a higher credit score, if we dont have the money, we simply dont buy it.
Call me old fashioned, but it works for us and I sleep real good at night

My stepfather told me when I was 14 that there was nothing worse than being old and broke and it stuck with me all those years.

 

[5030]

I get offers for cash back cards constantly. I delete them all.

 

[EarPlug]

Congress is working on a bill to eliminate credit card rewards.

Is Congress Going to Kill Credit Card Rewards? - NerdWallet

Supporters of the Credit Card Competition Act of 2022 say it may lower store prices. Opponents argue it may decimate the perks that come with your plastic.

www.nerdwallet.com

 

[LD1]

For those looking for a good reward card, this is my recommendation, especially if you travel a lot.

As cashback cards go, The Chase Freedom Unlimited is as good as it gets. It has no annual fee, 6.5% cashback on travel, 4.5% on dining and drug stores, and 3% back on anything else. Its intro bonus comes in the form of an extra 1.5% on top of anything you buy for the first year up to $20,000, potentially $300 extra. And no fees.

Don't know if their offers are regional or what....

But I click the link and it says 1.5% on everything.

5% travel and 3% dining and groceries excluding Walmart. Which is alot of our groceries...

I used to use the chase unlimited freedom card. Still have it actually. But switched to the fidelity 2% card

 

[Sigarms]

When I bought my tractor they had a 0% "deal" going. I asked this question, what is the price if I bring in a bank check? They said same price. Great sign me up for the 0% financing. My investments can keep earning a return and you will get a few bucks a month from me. Seems like a silly idea, but what do I know.

There are deals with financing to move product.

That said, the dealer could be banking any charged up front fee on their end if you pay cash. Key to figure it out would be to find the exact same product at another dealer to see what they would charge you for cash.

End of the day, this the reason why I only pay cash for used cars (to limit the variables in the sell price).

 

[BravoXray]

I disagree. That's just being judgmental.

Yes, I know alot of worthless individuals with finger tattoos. I also know a lot that are quite successful.

With rare exceptions, the people I see with numerous tattoos could have spent that money for more pressing needs, like domestic needs, clothing or vehicle repair.

I have no regret on judging some people, as their appearance in public is a representation of who they are as a person. No one can deny that initial outward appearances and behaviors quickly create a impression of who that person is.

 

[deserteagle71]

With rare exceptions, the people I see with numerous tattoos could have spent that money for more pressing needs, like domestic needs, clothing or vehicle repair.

I have no regret on judging some people, as their appearance in public is a representation of who they are as a person. No one can deny that initial outward appearances and behaviors quickly create a impression of who that person is.

Especially when I see a face with a "hog ring" in the nose...........

 

[YanmarFever]

Back in 2012 -2013 I had the job of interviewing over 62 people to work for us, and they signed an agreement that we could look up their police records.
Most of the ones with tattoos on their knuckles just walked away, (ALMOST) all the ones with tattoos on their necks ect had enough on the record that they weren't hired.
Total was about 28 that had the tats.
Out of all those only 4 were hired.... Sad...

 

[Joel/ak]

We only have debit cards, a visa and Mastercard based debit card between our 2 banks.

I'm a cash as I go kind of guy. Sometimes it sucks but hey, it is what it is.

I also have no car loans or a mortgage. Cash is king but I'm sure some here would argue that and say debt is good.

 

[Jstpssng]

You almost have to have a CC to travel these days, especially if you want to rent a room or a car. The first time I encountered needing one for a motel was about 22 years ago, down in New Hampshire. At the time all that I had was a debit card and a wallet full of cash. Tried to check into a motel and discovered that he wanted a card with a $500 minimum. I would have had to call my bank to transfer the money to cover it, so offered him that much in cash for the night, allowing me time to call my CU when they opened. That wasn't satisfactory as he insisted he needed a CC with a $500 minimum; a cash deposit wasn't enough. (I was supposed to be there for the week, and $500 would have more than covered it at the time.)

The more he insisted, the less I wanted to give him my card #. He ended up following me out the door as I left, screaming "you're the reason I need a credit card!!!"

Now that's SOP, but 20-30 years ago I never had a problem traveling with cash.

 

[Joel/ak]

Some of you realize that most debit cards are credit cards in a way. I have a visa and Mastercard through both my banks. Same safeties as a credit card but no borrowing money.

 

[MossRoad]

Some of you realize that most debit cards are credit cards in a way. I have a visa and Mastercard through both my banks. Same safeties as a credit card but no borrowing money.

While some debit cards have similar perks as credit cards, they aren't called 'credit' cards because they don't use credit. It's a plastic check instead of a paper check. You have to have the money in your account to use it, or you overdraft your checking account.

Using a debit card doesn't effect your credit score.

 

[Joel/ak]

Agreed, sounded like some folks think you can't get hotels etc with a debit card. That's wrong.

Like I said, only difference is you don't borrow money.

 

[Hay Dude]

I was offered $500 on a credit card back if I spent $3,000 on it in the first 90 days on goods that I had to buy anyway. I spent a bit over $3,000 and got my statement with $500 off.

I feel like I did pretty good.

 

[tallyho8]

Don't know if their offers are regional or what....

But I click the link and it says 1.5% on everything.

5% travel and 3% dining and groceries excluding Walmart. Which is alot of our groceries...

I used to use the chase unlimited freedom card. Still have it actually. But switched to the fidelity 2% card

That offer is only good for people who don't have the card already.