What are the pros and cons of never having a credit card?

there are no pros if youre currently using a visa/mastercard debit card already and make sure to permanently and officially blacklist yourself from all credit card solicitations

>>1369274
pros: rewards
cons: only retards bad with money get affected by the cons

>>1369274
>>1369296
+1 to this, I have the Discover It card and I get 5% off everything on Amazon and just about 1% on everything else. If you aren't a literal pile of steaming shit who can't manage money, then get a credit card.

>>1369274
There's only pros if you can handle the responsibility (don't run a balance month to month, pay in full every month.)

The only reason not to pay for something with your credit card is if there's a fee associated with the purchase greater than the potential rewards you could gain (For example $1000 purchase with 1% cash back = $10 rewards less $15 credit card merchant fee = net loss $5), or they only accept cash (i.e. drugs)

So the pros are
1.Rewards
2.History of credit
3.Better fraud protection. If your card is compromised the credit company is out the money, not you.

I've been on the Dave Ramsey plan for a couple years. I don't worry about my credit although my wife does. I don't have a car payment, I don't have debt, everything I make from my current job goes towards starting my own company next year.

There are definite drawbacks to being without credit. If you ever want to go back to using credit, it is going to be a nightmare to get started and develop a history. I've heard it is more expensive getting auto insurance although this personally hasn't affected me.

For what it's worth, I personally enjoy living without it. You can still get approved for a home mortgage, you just have to find a mortgage lender who offers manual underwriting. There's really no major benefit to it as opposed to being responsible with a credit card and paying it every month. Again, it goes back to how it personally makes you feel, something which can't be measured in dollars. At the end of the day, if you can afford everything in cash with a massive emergency fund, live within or below your means, and invest for your retirement, there's no real difference between a responsible credit user and a non credit user at retirement age aside from a FICO score and maybe a few extra dollars from credit rewards.

here's what i think as far as life is concerned

get as many cards as possibleas many credIT cards, especially
in fact,
i need one..,right
about now!.

>>1369274
well if you adhere to a simple rule of life credit cards can't hurt you:

never spend money you don't have!

if you only spend money you have it's basically throwing money around between your balances and you reap the rewards like cashback.

Pros: living that citi double cash life.
2% cash back on everything. Gas, groceries, utilities, insurance. Fucking everything. Sure it's just 2 percent but it's like free money in exchange for using a more convenient and safer form of payment. Never paid a dime of interest.

>cons
Basically none unless you are a degenerate.

>>1369499
>double cash life
what exactly are you on about here?

emergency. i always carry a $6k max card for that purpose.

>>1369507
>emergency
that's the worst possible reason to own a credit card i ever heard.

Of never having a credit card?

Pros:

Cons:
- Don't build credit
- Don't get cheaper rates on mortgages
- Don't get cash back (between 2 and 10%+ on every single purchase you ever make)
- You're a cuck and you're paying the credit card markup while everyone else is getting cash back

There's literally no reason not to get credit cards, unless you're a retard and can't manage money. At that point you should just kill yourself because you're a cancer on the gene pool.

>>1369397
>Dave Ramsey
>There's no major benefit
>There's no real difference
>maybe a few extra dollars from credit rewards.
>2-10% back on every single purchase
>"""""maybe a few extra dollars"""""
Please don't post here again.

>>1369495
>never spend money you don't have
The people who don't understand and refuse to accept this deserve to stay poor.

>>1369502
Citi Double Cash is a credit card with 2% cash back.

>>1369527
>Citi Double Cash is a credit card with 2% cash back.
>2% is now double
my brain just broke anon
citi card offer i got was shit. they only give you 3% in select stores that don't interest me and 1% general hereabouts.

i got a mastercard that pays 3% in every grocery/super/hyper and 5% seasonal, 5-20% special offers.

>>1369502
Sorry.
"double cash" is the name of a citi financial credit card. " double" because you get 1 percent cash back on purchases and another 1 percent when you pay it off. Just a gimmick. As long as you pay debts it's a straight 2 percent cash back. Other cards have more, but it's usually limited to certain types of spending. The cities cars has no fee and 2 percent cash back on all purchases, even mundane shit like utilities, insurance, doctors bills, ect. I just auto bill all my recurrings to the card and pay it off every month. It's super easy and they pay me to do it. I have been doing this for a while and have not paid any interest. Citi does not seem to mind.

>>1369517
It isn't, especially in the US were even with medical insurance you can outright fucked by the healthcare system. A high percent of people with credit card debt are healthcare related. A credit card is a quick way to get urgent medical atention, your life>money.

>>1369560
well i can put down the table about 10 times as much as i would get on a credit card. so this really makes no sense to me.

>>1369560
As someone who works with degenerates finances daily I have to question these numbers. The majority of trouble debt that I encounter is people who use credit cards and other financing arrangements to live beyond their means.

Just my experience.

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>>1369568
Your reality =/= everyone else's.

>>1369557
yeah that's not a bad card tho, but what i got offered is this:
1% +2% in partner stores
but of course there is a monthly limit
and here is the kicker you don't get cash back even tho they say it's cashback but you can buy coupons in their online store from your supposed cashback that is only applicable in a certain store.

i literally told them to "fuck off" with their "stupid shit" on the phone when this became perfectly clear.

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>>1369360
>If your card is compromised the credit company is out the money, not you.


yeah right

>>1369583
if i was living in the us we would be talking about $100ks of savings, sadly i'm a poorfag my savings are only $30k the upside is the cost of living is also fractional healthcare and education is free and no niggers.

still i would rather live in freedomland but immigration is naught impossible.

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>>1369274

> Pros
everything

> Cons
nothing

There is literally no reason to use a Debit card. Credit is superior in every way. Besides, you can just pretend your credit card is a debit card and never spend more than you have, and pay off the balance every month.

I was a hold out for a long time, and I finally switched this year from debit to credit. It's much better.

> fraud protection
> cash back (literally free money)
> build your credit when the time comes to buy a home

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What happens if I buy stuff mindlessly from stores and never pay to the CC company?

Literally all of my income is in cash from hand to hand, yet, the faggots insisted in giving me a CC (haven't activated it yet)

>>1369585
Yeah those sound like shitty terms. The doublecash card is the best thing out there for someone with my spending habits. My spending is pretty simple, I have no need for rotating categories and the like. Some of the cards that offer higher cash back for certain things could be better for families that rack up big bills are grocery stores, but my spending is fairly simple. And most rotating category cards don't have a "ammo and gaskmasks" month, so I'm happy to take the flat 2 percent.

And no coupons. You can claim rewards on a check, or just spend it through the card.

I started out with a bank CC in college, like a $500 limit.

Six years later (order included):

Amex Gold Preferred (regrettable, $195/yr fee blows)
Chase Sapphire Preferred (#1 fave card)
Discover It (#2 fave card, #1 for cash back)
Chase Freedom
Amex BCEP (6% on groceries delicious)

All of em are minimum 10K limit pretty much. If you're smart with your spend, you can rack up some serious cash back. I had 180K amex points when I graduated college, flew enough my first 3 months of work on those points to land FF status on US Air and had a great two years.

Manage credit, don't abuse it.

>>1369613
... you ruin your credit and get sent to collections aka repo.

Are you kidding?

>>1369499
>free
Nothing in life is free son. Look harder. Even if you are winning, someone somewhere is paying, that could eventually lead back to you and society as a whole. Usury is a serious problem and why baby Jeebus lost his shit in the temple.

>>1369882
actually the sellers just average in the costs of 3-6% of credit card purchase and raise prices by 4%.
you don't win anything the card company and the bank wins 2-3% and the poor sod paying with cash loses 4%.

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>>1369613
I maxed out a few cards and stopped paying in 2012. Total amount was about 16k but with fees and shit I technically still owe like 20k or so. They sent me letters in the mail and called me so I got a new phone.

Nothing happened lol but I think I was just in the right life situation to fuck them. I live in PA where they can't garnish wages so don't sue unless you own property or have a high paying job they find out about. I was self employed so they never found out shit and just let the statute of limitations expire.

My credit score is a 545 though lol. I'm getting another credit card now and will rebuild so in 3 years when the old debts fall off I'll be able to get a mortgage if I feel like it. I wouldn't really recommend anyone do the same as me. Technically I could have been sued which would have been a real problem cause they can levy your bank accounts.

>>1369589
Yea right I am. I've dealt with credit fraud several times. It's way less of a headache than debit fraud. Your checking account doesn't get fucked with credit card fraud which could lead to overdrafts, late bill payments, and fees depending on how shitty your bank acts.

>>1370134
how do you get credit fraud?
they either need to know your pin or your csc/cvc.

>>1370156
Have you used a credit card before? The only time I need to use my cvc code is when I order stuff online.

Never had a credit card, but since /biz/ is always saying I should get one I'm almost considering it... But I've two major concerns:

1. where tf does this magical %off and rewards come from? it's gotta come from somewhere. It's really just getting a fraction off the fees imposed by the CC companies on shop owners?

2. what exactly is the process of paying off a card? Is it automated? Or do I have to sign in once a month to my online bank and transfer payment manually and I'll get raped if I forget? A small amount of free stuff doesn't seem it would be worth the effort of having to think about this.

3. (bonus round) is BarclayCard (UK) any good, I get a letter pitching it every fucking month.

also you guys, whatever the truth about CCs, looking at this marketing and getting "freebies" and "points", you got to admit they do sound like a fucking scam designed to hide whatever the costs are.

>>1370174
exactly... it's for online purchase.
that is why i scratch the code off the card and cover it up with black permanent marker as soon as i got it.
because what you need for online/phone purchase is all printed on the card (stupid ass thing if you ask me).

>>1370183
>where tf does this magical %off and rewards come from?
from the guys with no credit card
>do I have to sign in once a month to my online bank and transfer payment manually and I'll get raped if I forget?
yup

>>1370183
1. The rewards come from people who don't pay their bills and rack up 20% interest every month.
>t. process bills at a major retailer. half have balances of 1,800+ and pay the minimum of 25.

2. You go online and it gets drafted from your checking. You can automate it for most, if not all cards, but some can be dicks about it so its best to do on your own.

3. It's shit in the us, so who knows.

The costs are other people's interest rates, or yours if that magic 2% makes you spend more and not pay it off immediately. I use it to fund trips off gas and groceries I already have to pay for.

pros:
>significantly less debt

cons:
>if you live in canada, you frequently can't buy things online
>have to find other ways to prove that you are good at managing credit

>>1369296
>>1369298

This.

Capital One Quicksilver here, been getting 1.5% on everything I ever buy and have never paid interest.

No cons unless you are bad with money.

/thread

>>1370183
>>1370193
>>1370197

Card companies charge merchant fees. Rewards are a portion of those merchant fees.

E.G: XYZ Card company charges 2.5% of the transaction value as a merchant fee, then XYZ card company gives you 1% of the transaction value in rewards.

Interest on borrowed funds and misc. fees are just extra money.

>>1369907

I did that back in 2006/2007.

Aren't they written off at some point?

I tried to open a back account in 2009 and was denied because of my income to debt ratio was insane.

Well something happened because I opened a bank account and I'm starting to get shitty credit card offers.

>>1370233
>Card companies charge merchant fees. Rewards are a portion of those merchant fees.
and merchant raises prices by a portion of that fee, hence: >>1370193
>from the guys with no credit card

Well I'm glad I'm British, so I'll never have a need for a credit card. Anything I wish to get on finance depends only on my current earnings. And I'd probably not get more than 2 things on finance.

>people who love credit cards

Absolutely 100% good goy. You really think you get all these '''rewards''' and little perks because of the kindness of the banks? You're most likely spending more without even knowing on it, and should you be unfortunate and fall on bad times, your dependency on the credit card will sink you into debt.

If you think anything other than just spending the money which you currently have in your bank account, from your business/job is the ideal system you're a fucking retard and shouldn't browse this board again. Shilling the top jew system and being proud of it means you're a cretin.

>>1370352
>I have no self control with my money so others must not either

>>1370352
All these these things you piss and moan about can be alleviated with a little something called self-control. Go back to wrecking your country Britbong.

>>1370362
>>1370364

>"I have to be a good little bitch-goy for my credit masters and always remember to pay back money I pointlessly borrow every month so I can save $0.04 on gas when I fill up!"

Credit cards are redundant and degenerate, at least they show the retards in society so us normal people can avoid them.

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>>1369274
I have an amazon CC that my wife "manages" (she makes the payments)

She is a turbo jew relative to money, so she has never forgotten a payment in the last 10 years. We use the card for the rewards shit, I don't know if it's static/variable relative to when you join but we get:

>3% cashback on amazon purchases
>2% on fuckin gas on top of our gas cards (like speedway rewards)

When we don't use amazon we use our Chase Freedom card

>april - september costco 5% cashback
>rotating 5% gas discounts

We live fuckin 1.5 hours from ANY town so we use the shit out of that and we front/backload it (we scrounge by until april and in september we will literally spend $2000 at Costco to haul back to the house with my 20' trailer)

We've very well off with 250K in investments and ~50K liquid on average with everything we own paid for (house/cars etc)

The cashback is just too good, especially when you have a turbo jew watching the books like my wife.

>>1370377
>I'm a retard who is unable to manage my money responsibly, so that means others should throw away free money

>>1370406

>>>>>>"""free money"""

The gullibility and naivety of you fucks never ceases to amaze me.

>>1370400

Isn't Amazon's new reward card 5% off lol?

Your wife's gonna bitch you out for the 2%

>>1370409
I've been using my credit cards for years (7 total I think since I bought into the Visa Jew) and I have literally never been charged anything, all I get is the rewards.

Smart people GREATLY benefit from credit cards with fantastic rewards programs that have no additional feeds, those cards feed off dumb niggers that rack up unpayable debt.

If you're a poor nigger, hell if you're anyone, don't borrow and live beyond your means

>>1370412
Hell if I know, maybe, her extremely periodic nagging when I go and spend something like one of my recent "splurges" 1000 dollars (shipped) on 4000 rounds of 7.62x39 is worth it for her bookeeping skills and good dick riding.

Hell, most of my days are spent on the river catching Chinook anyway

>>1369519
paying for gas is slightly cheaper with cash at some stations. don't be a total hater bro

>>1370409
Are you really that fucking retarded? There is no hidden cost or anything like that for you. Its just the credit card companies way of enticing you to use their card instead of some one elses.

>>1370211
Enjoy your $40 member fee after 2 years
The one they don't mention anywhere

>>1370348
Merchant fees vary depending on the card, however. They just have a margin that takes any merchant fees into account.

>>1370543
[citations needed]

Also, I have quicksilver, not quicksilver one.

Pros are you can never, ever get into debt even by accident.

I lived without credit for 7 years. The only real con is having difficulty renting certain things like a car. No others that I had to deal with.

I'm 19 and I just got my first credit card. For my rewards I get $25 quarterly if I pay the minimum amount on my bill monthly, but I pay in full monthly so it's just a free $100 every year. When I actually get a real job that pays more than like $500/month and my expenses become more than just candy and gasoline I'll switch to a card that gives cashback rewards. It's nice to be getting my shit together... or at least feel like I am.

>>1370418
What the fuck do you do for a living and how did you get to where you are today?

>>1370565
they average out the cost based on statistics of how many customers tend to pay with what method.

the end-result the guy paying cash gets fucked unless he buys in a cash only store. thank god we have them here still cheaper stores don't accept cards.

>>1370874
but if you think about it in game theory ways:
you as the sole customer using a credit card are highly incentivized to pay with it.
even as more and more customers pay with credit cards you are still better off than those paying cash.
but in the end when everyone is using credit cards you all pay more than initially for the same goods because the bank and the card company gets a cut a pretty sizeable cut of your purchase.
even tho it's bad for all of you customers the ones that abandon the strategy get punished.

what a wonderful jewing this is. it's just that they decided to take a cut of all purchase and made it happen and people believe they actually are better off with it. beautiful.

>>1370440
Yeah I know NJ is notorious for this, but that's why I don't get gas there even though it's 10¢ cheaper per gallon, and my state gas stations don't discriminate between cash and credit (and because it costs me $4.00 every time I go over the damn bridge to get there)

I have a CC with the local credit union, 20k limit have had the account open for over 10 years now. About the only pro I can think of with a credit card is when my debit card number got stolen, I still had a form of payment for that 7-10 days or whatever it takes until my new debit card showed up. Besides that I have never really used it.

>>1370352
>>1370377
>waaaaahhh, I wouldn't be able to control myself with a credit card so others should feel bad about it too! waaaaahhhh!
Lol you sound like a teenager, kys Britbong I bet you voted to stay in the EU

>>1370400
... why don't you just set it on autopay?

>>1370409
Yup, I've gotten about $500 back so far, all on purchases I was going to make anyway. Why are you so mad, lol?

>>1370440
That is true, I think Arco is the one near where I live. But Costco is almost always still cheaper, plus 4% back on gas worldwide. But you are right, in some cases it's cheaper to pay with cash (maybe while traveling).

>>1370543
Nope, that's the shitty mastercard quicksilver with the yearly fee.

>>1370720
What card is that?

>>1371197
>What card is that?

Bank of America Better Balance Rewards, a nice card to use to get Netflix for $20 per year

>>1370377
Are you retarded or are we being trolled? If you are seruous and are older than 18 you need to start getting your shit together because you are going to be a loser forever otherwise.

Can you set self-imposed limits on cards?

>>1371584
i just did put limits like no money from atms and a limit on daily purchase in numbers and sum.

what the fuckers did is for every value changed they charged a fucking dollar.

>>1371584
You can have any credit limit you want under your initial credit limit your bank gives you, all you have to do is call in and ask them to move it down

Is there really no interest if you pay it back fast?

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>>1372068
As long as you pay your statement balance you don't get charged interest.

>>1372068

Monthly payments are interest free on all credit cards.

So essentially it's exactly like a debit card except you have protection from fraud, AND you don't PAY for anything until you send in a check to pay off the outstanding amount.

Seriously guys, debit cards are like for when a parent gives one to a 16 year old girl, who would otherwise spend more money than she has.

>own a credit card
>do all my purchases with it and pay the outstanding amount right after on my smartphone
>literally no cons
>get to fly for free

love those sweet air miles

>>1372129
Are there any cons of just paying immediately instead of waiting for the statement?

>>1372129
>>1372198
>paying immediately
Yeah but why?

You can just set it to autopay the full balance every month. That's what I do. Precisely 0 minutes spent managing credit cards, every month.

>>1372238
my fucking card do not have this feature.

in fact you can for an extra fee automate the minimum payment required by the contract but that means rolling a large balance automatically. it's pointless.

and as transactions have costs it makes sense to pay it in one go.

>>1372379
Stop using a shitty card.

>>1372388
it's more of the banks fault i think, and it's the best card in the country. all the others have shit cashback. of course there are plenty banks that offer no cashback where you can automate the payments for a fee.

>>1371197
>>1370568
Ok boys I have a CapitalOne Platinum Mastercard and Quicksilver Visa sitting in front of me and both are advertised as having omg no annual fees! After your 2nd complete year of enrollment on a card they may start charging a $40 "Capital One Member Fee. Request a fresh copy of your cardholder agreement because they have multiple versions of each of their "no annual fee" cards. Some with the surprise "member fee", some without. It won't be mentioned anywhere outside your cardholder agreement.

I am trying to help you people so you don't have to deal with this shitty company. I suggest you take the $150 cash bonus on the quicksilver, and then do a 360 out of there.

I miss the simplicity of redeeming cashback rewards with C1. But they're a bunch of cocksuckers

>>1373168
>>1371197
>>1370568

I want reaffirm my statement that both of the cards I mentioned are advertised as having "no annual fee" unconditionally. So even if you think you're safe from these jewish tricks, order your cardholder agreement. I threw mine away unfortunately, and I don't remember where it's stated.

>>1370377
I save more than $0.04 per fill up. More like $0.04 per gallon. That said, credit cards are a meme from the 90s.
>>1370876
this is why

I use credit cards every day but it could be argued they're a net drain on society, depending on how valuable you believe cashless transactions really are. Banks exchange cash for free and there's more labor involved than in card transactions. Why should card transactions cost so much for businesses?

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>>1370352
You give britain a bad name. Our capital city is the global centre of finance and you're this financially illiterate? You don't NEED a CC, sure, but when you can build a credit score to help with a mortgage, get up to 5% cashback (free money) on literally everything and get all sorts of other benefits with one and pay no interest if you're half sharp, why the hell would you NOT get one???

>>1370352
>If you think anything other than just spending the money which you currently have in your bank account, from your business/job is the ideal system you're a fucking retard and shouldn't browse this board again.
>money which you currently have in your bank account
>money
you mean debt right? cause there is no money on your bank account.

I've never had one but it looks like I should. I'm simply ignorant about them and choose to not even try. Are there any pleb tier cards? And I assume credit score is international,or hope it is because I move between 2 countries a lot.

>>1372198
Nope, none.

I do this sometimes, rather that auto pay just because some of my CC balance is personal spending and some of it is monthlies paid out of a different account.