March of the ....
- Thread starter Ragman
- Start date
Seriously, no credit cards? Ya know, if you pay your bills at the end of each month & don't roll over any balances .. the banks actually PAY YOU simply to use their cards.Plan A ... too much info on Murray ...
Plan B .. best choice ..
Plan C ... Ntimevan hasn't had a Credit Card since 2003 .. paid off last of Balances in 2008 ... No Need for unnecessary Debt .... cash or go without ..
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The only debt we have is our household mortgage. Van has been paid since day 1. No other loans.
I have 2 credit cards ..
One is 2% back on ALL purchases. This is easy, 2% just for using their card ... deal!
One is exclusively used as a fuel card .. 5% back on all fuel purchases. Not 5 cents per gal, 5% of fuel purchased & there's no cap! Most cards will cap the rewards on a quarterly basis. I'm not familiar with fuel programs for larger carriers, so perhaps some get a better deal. My wife & I both have one. For the amount of fuel I consume, it's significant. Every few months we request the rewards to be mailed in the form of prepaid visa cards .. like gift cards. I purchased my last 2 sets of Michelins with rewards! It's fun to walk into Discount Tire & slap down a stack of prepaid visa cards for a set of tires
feels like I'm getting them for free .. It adds up ...
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Yeah .. i know it sounds alittle crazy ...Seriously, no credit cards? Ya know, if you pay your bills at the end of each month & don't roll over any balances .. the banks actually PAY YOU simply to use their cards.
The only debt we have is our household mortgage. Van has been paid since day 1. No other loans.
I have 2 credit cards ..
One is 2% back on ALL purchases. This is easy, 2% just for using their card ... deal!
One is exclusively used as a fuel card .. 5% back on all fuel purchases. Not 5 cents per gal, 5% of fuel purchased & there's no cap! Most cards will cap the rewards on a quarterly basis. I'm not familiar with fuel programs for larger carriers, so perhaps some get a better deal. My wife & I both have one. For the amount of fuel I consume, it's significant. Every few months we request the rewards to be mailed in the form of prepaid visa cards .. like gift cards. I purchased my last 2 sets of Michelins with rewards! It's fun to walk into Discount Tire & slap down a stack of prepaid visa cards for a set of tiresfeels like I getting them for free ..
It adds up ...
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But with 2 teenage sons yet at home in 2003 , my wife and i sat down and reevaluated our income and bills and set out a debt free future plan. It is too easy for a young family to fall into the Plastic financial plan..
We love the financial freedom to be able to Invest Cash as we wish and not paying the Credit Card Crooks .
Working at the Post Office for years i realized while delivering Mail just how much people depend on Credit cards and the number of statements delivered to people Monthly.
Its not that hard to live by Cash/Bank debit card only ..
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Understood ... but you can still apply that discipline & earn money from those crooked banks! Purchasing power ..
You're missing out bother ...
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btw ... full disclosure ... I don't pay the monthly bills in my household. I, like most men, suck at it! I handed that over to my better half many moons ago. It's not a cash flow issue with guys .. just something about paying that bill. My wife has always said she has noooooo problem doing it as long as there's $$ in the bank ... so get to work! lol
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Lol ..
Too Old and set in my ways ..
Too much Credit card fraud and internet theft ... we do Nothing Financially Online .
But hey its Our way .. and we don't tell anyone else how to spend their money ..
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Again, understood ...Lol ..
Too Old and set in my ways ..
Too much Credit card fraud and internet theft ... we do Nothing Financially Online .
But hey its Our way .. and we don't tell anyone else how to spend their money ..
☠.. Online courses now available for Pot Stirring
All I'm saying is if one's household is cash positive there are rewards to be gained.
btw ... my van & my wife's 2011 nissan Altima were purchased with cash. The credit card system can be worked.
But to each his own ...
Edit: her car was used .. bought it for $10K like 3 yrs ago .. really clean, low mileage ..
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Empty .. 2 days early .. Huntsville ,Al..
☠.. Online courses now available for Pot Stirring
☠.. Online courses now available for Pot Stirring
Lol ..
Too Old and set in my ways ..
Too much Credit card fraud and internet theft ... we do Nothing Financially Online .
But hey its Our way .. and we don't tell anyone else how to spend their money ..
☠.. Online courses now available for Pot Stirring
Sent from my VS987 using EO Forums mobile app
Keep you head down, big storm headed to North Alabama.Empty .. 2 days early .. Huntsville ,Al..
☠.. Online courses now available for Pot Stirring
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It's so nice how the crooked banks can make you think your spending less with their reward programs
When in actuality, most people end up spending more then they should or would have with cash, if they didn't have that "Purchasing power". Which is what they are banking on
It's not hard at all. As Dave Ramsey would say, "Cash is king".
On my own Debt Free journey, I'm currently on track to be completely debt free in about 4 months. At the rate I've been kicking debt to the curb, probably sooner
It's so nice how the crooked banks can make you think your spending less with their reward programs
When in actuality, most people end up spending more then they should or would have with cash, if they didn't have that "Purchasing power". Which is what they are banking on
It's not hard at all. As Dave Ramsey would say, "Cash is king".
On my own Debt Free journey, I'm currently on track to be completely debt free in about 4 months. At the rate I've been kicking debt to the curb, probably sooner
My point is being misunderstood ....
I'm NOT spending LESS .... & neither are you! I'm spending the same amount, simply gaining rewards for paying the bill at the end of every month.
I have plenty of cash in the bank & use cards for the rewards they offer. The cards are not CREDIT CARDS, they are DISCOUNT CARDS!
How much do you spend on fuel annually? Let's say $10K. Does that amount change because it's being paid for in cash or with a card? NO! Use cash to pay for fuel = ZERO discount. Use a card to pay for fuel = 5% discount. Which is better?
How much do you spend on maintenance annually? Let's say $5K. Does that amount change because it's being paid for in cash or with a card? NO! Use cash to pay for maintenance = ZERO discount. Use a card to pay for maintenance = 2% discount. Which is better?
Classic example .... my CIS bill is due each May. I pay the ENTIRE AMOUNT with a credit card. Then pay the credit card .... the ENTIRE AMOUNT! I have the money in the bank. Why do I do this? BECAUSE I GET a 2% discount for doing it that way. How much of a discount is earned by paying it with cash? ..... ZERO!
Does that make sense now ....?
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I'm like you, Griz. I have a bunch of credit cards that give different rewards for different things, but I haven't carried a balance since 1998 I believe. All cards get paid off at the end of the month.
I have a few that offer 5% on gas, but they have a limit. PenFed used to be 5% back for gas unlimited, but a couple of years ago they started charging some points when you redeem them, so in reality it is only 4.1% back. What card offers now 5% back on gas and is unlimited?
I have a few that offer 5% on gas, but they have a limit. PenFed used to be 5% back for gas unlimited, but a couple of years ago they started charging some points when you redeem them, so in reality it is only 4.1% back. What card offers now 5% back on gas and is unlimited?
PenFed is the one! I also discovered the way they issue their rebates was changed like 18-24 months ago, not sure exactly when. They went to a point based system. I guess because they noticed fees were being incurred in their rebate program. I thought it was more like 4.75% ... but I haven't drilled down into the calculation. OK, so I stand corrected ... 4.1%. Thanks for that info!
Still a significant savings over cash ...
Now juggling more than 1 card for that 0.9% savings is way too much for me .... lol
Well done!
I guess it depends on how much fuel annually we're talking about. Sprinter or a straight? If I had a straight, maybe I would ....