[skinny mike]

Time value of money. You can buy what you want on now, then spend the rest of your money on hookers and blow for a month. As long as you pay off your credit card at the end of the month, say, by selling a kidney, everyone wins.

so what happens when you're out of kidneys?

it's people like you who caused the whole credit crisis with your unsustainable financial plans. that's why i pay my bills by donating to the local sperm bank. it's like solar power, not always there when you need it, but unless something disastrous happens, you can count on it to be back soon.

good luck growing another kidney though.

 

[jonKranked]

I wonder if he takes credit?

The card reader is in between his butt cheeks.

 

[jonKranked]

Dude - don't gark your own thread just 'cause Angus is an admitted dolt.

I'm just astounded that he fell for that hook line and sinker.

 

[SkaredShtles]

SS.... I will agree about using a regular Credit card... But for absolutely different reason

Free money on a credit card? No, you have to pay it back. Whats the point of extending it if you already have the cash now?

As Peach pointed out... you might want to look into the "time value of money"...

Here is my reason to use a regular CC for purchases..... Its easier to get your money back should something go wrong.... IE like me ordering a shock from MArzocchi, which later they even told me they were defective out of the box, yet there was nothing they could do.......Well My CC company sure was able to do something.

I think over the last year I moved probably 3K across my CC that gets me 2% cash back, and I gotta say, while paying it off in full at the end of the month, I have ogtten one hell of alot less than 2% back, yet when they do the math it adds up to what it should be. CC companies are alot sneakier than anyone will ever belive, use a CC and pay it to build credit... good.... use it to protect your purchase..... good... use it in an emergency when you are short on cash....Good.... Use it ecause you think that by using it and paying it off at the end of the month gets you free money.... Retarded

Those are all nice fringe benefits of credit cards... but you might want to consider continuing to fix Subaru head gaskets for a living, then.

 

[DirtyMike]

As Peach pointed out... you might want to look into the "time value of money"...


:

Yeah.... the time value of your money on a CC... is made by the CC company.

 

[blackohio]

Well, maybe it's just me, but I'd just as soon pay right now and be done with it. But that might be because I'm pulling in $57 an hour. Luckily for me, money is not an issue.

well, well well, look at you. Im going to venture to guess that your doing this all without a college degree which affords you such a accomplished sense of entitlement.

 

[SkaredShtles]

Yeah.... the time value of your money on a CC... is made by the CC company.

Then you're doing it wrong.

 

[rockarollah]

Yeah.... the time value of your money on a CC... is made by the CC company.

Keeping the money in savings until payment time would get you... 1% annual return, that's taxable? Just seems like a lot of work for marginal reward, and if you mess up and forget once, the interest cost would outweigh the benefit.

 

[DirtyMike]

I dont mess up, I make three to four payments a month if there is a balance on my CC's. Yeah money in savings gives taxable interest.... But at the same time, there is no reason you should have to spend your money. Oh wait thats right, I seperate my savings from my spending money, so thre is no interest being made on my spending money, hence no taxable income from it.

Like I said, I will do most all my online purchases on my CC, mainly because its alot easier to reverse charges should the need arise than it is to reverse when using a debit card. If I have a part break, I can get it now and be rolling, but Ill budget for it and pay it off. It comes out of my spending budget.

If I should need to take out of savings for anything, it too gets budgeted, and replaced as a loan for myself.... which also comes out of my spending budget.






Best part is... I usually always have what I need for riding, fishing, eating..... could that be because it works this way.... Should I also mention my 401 has done absolutly amazing, My CC debt is almost non existant, and supplying for anyting I need is an easy task, of which I dont have a "need" to use a CC, just like the protection offered with a CC.

 

[rockarollah]

I think we agree then - my post was more a response to the "why wouldn't you take 5 years to pay" guys.

I do the same thing myself - pay off the credit card incrementally, several times a month, for the sake of keeping the balance small, manageable and always paid off at month end.

 

[Toshi]

Keeping the money in savings until payment time would get you... 1% annual return, that's taxable? Just seems like a lot of work for marginal reward, and if you mess up and forget once, the interest cost would outweigh the benefit.

I don't see the benefit of credit cards as the above. Instead I see it as the flexibility of paying the balance anywhere from 0 to 45ish days (ie, time from purchase to time of bill actually being due), flexibility that's entirely lacking with debit cards or cash. Moreover, a no-fee credit card that's paid off every month yet has cash-back or points rewards is better than free. ¿comprende?

CN: Amex pays me 1.5-5% cashback in return for getting $0 annual fees and $0 interest from me. What's not to like?