Dave & the Credit Cards
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I agree with him IF you think you are somehow beating the system. As long as you use the card with the understanding that it is the same as taking money out of your checking account and you get a cashback, fine. But too many people spend more than they should because it doesn't have the same pain as handing the cash over.
"The intelligent man who is proud of his intelligence is like the condemned man who is proud of his large cell." Simone Weil
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I agree with him IF you think you are somehow beating the system. As long as you use the card with the understanding that it is the same as taking money out of your checking account and you get a cashback, fine. But too many people spend more than they should because it doesn't have the same pain as handing the cash over.
@Mik said in Dave & the Credit Cards:
I agree with him IF you think you are somehow beating the system. As long as you use the card with the understanding that it is the same as taking money out of your checking account and you get a cashback, fine.
Which is, exactly, what I do.
I use 3 credit cards regularly.
Amazon Prime Visa: 5% cash back on everything.
US Bank Visa: 5% cash back on utilities, cable, etc.
Fidelity Visa: 3% cash back on EVERY purchase as long as you have enough invested in a Fidelity account, and you turn that cash back into said account.I pay all of them off monthly. I haven't carried a balance in more than a few decades. Credit cards are for convenience, IMO, and nothing more.
So far, this year, my cash back has earned me $1411.
Hell, I even pay my estimated income taxes using a credit card (Fidelity) knowing I'll pay a 2% fee. But, if I get 3% back, I'm money ahead.
Yeah. I keep track.
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George K - rare duck.
“Cry havoc and let slip the DOGE of war!”
Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton
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"Now look here, you Baltic gas passer... " - Mik, 6/14/08
The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.
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@George-K said in Dave & the Credit Cards:
@Jolly said in Dave & the Credit Cards:
George K - rare duck.
Really?
He means you're tough, and cooler than the fuddy duddies at the USDA recommend.
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I agree with him IF you think you are somehow beating the system. As long as you use the card with the understanding that it is the same as taking money out of your checking account and you get a cashback, fine. But too many people spend more than they should because it doesn't have the same pain as handing the cash over.
@Mik said in Dave & the Credit Cards:
I agree with him IF you think you are somehow beating the system. As long as you use the card with the understanding that it is the same as taking money out of your checking account and you get a cashback, fine. But too many people spend more than they should because it doesn't have the same pain as handing the cash over.
I'm with George. Every single damn thing goes on a card, which I pay off every 72 hours or so.
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@George-K said in Dave & the Credit Cards:
@Jolly said in Dave & the Credit Cards:
George K - rare duck.
Really?
Yep.
Dave said in the video they had information that Citibank runs over 10,000 studies per year, setting up card "perks" and algorithms.
They're making money...
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He must mean that having credit cards leads to over-consumption.
The convenience of the card lowers the barrier for transactions - so best not have a credit card at all.
It’s tough to walk that binary though (absolutely no credit cards). It means you gotta opt out of services that only accept credit card (e.g. digital subscriptions, Uber, etc.)
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He must mean that having credit cards leads to over-consumption.
The convenience of the card lowers the barrier for transactions - so best not have a credit card at all.
It’s tough to walk that binary though (absolutely no credit cards). It means you gotta opt out of services that only accept credit card (e.g. digital subscriptions, Uber, etc.)
@xenon said in Dave & the Credit Cards:
He must mean that having credit cards leads to over-consumption.
The convenience of the card lowers the barrier for transactions - so best not have a credit card at all.
What could raise the barrier even higher for transactions? Cryptocurrency! Maybe Dave will update his mantra from "only pay cash" to "only pay crypto!"
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@Mik said in Dave & the Credit Cards:
I agree with him IF you think you are somehow beating the system. As long as you use the card with the understanding that it is the same as taking money out of your checking account and you get a cashback, fine. But too many people spend more than they should because it doesn't have the same pain as handing the cash over.
I'm with George. Every single damn thing goes on a card, which I pay off every 72 hours or so.
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I use cash for for things that don't have to be bought every month - clothing and just-for-fun things. (I only started doing this a few months ago. I was cashless for over a decade)
All the essentials are on a card or autopay (utilities, groceries, etc.).
Cash really does help reign in discretionary spending, and much of it is unnecessary.
