Is it true poor people pay with debit card, nouvea riche people

Don't know where you heard that, I don't think it's true

credit card is best for everything in usa

huge bonuses or at least a 2% discount

>>1636814
Nah, I'm pretty sure those last two are reversed.

I personally still prefer paying cash.

>>1636814
Depends on what you're buying, kid.

>>1636814
No.

credit card offers great protection

I cancel tons of charges on my credit card.

Once I got asian massage/hand job, told credit card they ripped me off... free happy ending!

>>1637123
>>1637145
That's a goddamn lie and you know it.

>hurr best for everything

No. If you have a high APR, you'll get fucked. If you don't, then yes, you'll be alright maybe.

But people are impulsive with these high CL cards and rack up so much debt that it's sickening. I've done it myself.

One card is 0% APR and one is around 24% I believe. Both are close to maxed out because my stupid ass bought shit I didn't need and treated it like a debit card. And even with debit cards, you can screw yourself with overdrafts.

>>1637147
>hur durr i dont pay off my cc as soon as the charge goes on
its like you dont want a FREE 2% off

>>1636814
If youre smart and not financially distressed, buy everything on the card. Pay card in full every month. 30 day interest free loan on everything you buy, fraud protection, plus points and whatever. If you are carrying a balance don't charge anything until it's paid in full. Credit card debt interest rates are the worst.

>>1637158
Like everyone can do that.

>hurr I'm gonna give the Jews at the bank a grand every time I run my balance up

Pay cash like a real man.

I use CC for everything. My card gives 1-3% cashback on everything. Free money. If you can't pay off the balance every month on time, you're doing it wrong.
Debit cards are for people who don't know how to use credit cards. Probably because if they had one, they would max it out within a month and spend years paying it off.

>>1637170
credit cards are for people who can't really afford to purchase shit with cash.

>>1637170
Plus the protection is best part. You can charge back anything easily. Try doing that with a debit card or cash. You can't!

>>1637172
spotted the guy with credit card debt

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>>1637168
>Pay cash like a real man.

Haha fucking americans

>>1637172
Or people who know how to pay bills on time. Credit card > cash if you pay in full every month.

>>1637187
You'll never know the feeling of walking into a car dealership with cash and them having to count it all out while you sit with a smug look on your face, you loser plastic loving cuck.

>>1637182
Yeah about ~$1000

>>1637188
You know absolutely nothing about finance. Credit cards are

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>>1637223
>while you sit with a smug look on your face

Sorry peepee

>>1637224
*Credit cards are the worst thing to have. Debit card and a checking/savings account are perfectly fine.

You want to save money? Get a savings account at a credit union, you dumb fuck.

Traditional banks like TD, PNC, Wells Fargo, etc, will not be able to provide you with a good interest rate when it comes to savings.

Every idiot millennial fuckwad thinks >HEY MAN CREDIT CARDS ARE THE SHIT

Yeah if you're making well over your credit limit. If your DTI is high, then you don't need a goddamn CC.

>>1637229
Why would I listen to a faggot who lives in a region in Yurop overrun by sandniggers? Oh right I wouldn't.

Anyone else wanna brag about how good their little Meme Card by Capital One is?

>>1637231
Checking and debit are fine, just not as optimal as smart use of a credit card. If you don't have the impulse control to smartly use a credit card stick to cash/debit. Thats fine. It doesn't change the fact that your money goes farther using credit correctly though.

>>1637245
https://www.thestreet.com/story/10341618/1/10-reasons-to-avoid-credit-cards.html

Ever hear of the term "universal default", rookie? No? Didn't think so.

1. Financing your purchases doesn't teach self control.
At best, an unwillingness to exercise self control when it comes to money can rob you of financial security. At worst, an impulsive attitude toward buying can have a negative impact on other areas of your life as well, such as having the self control to maintain a healthy weight or go to bed at a reasonable time every night. Yes, exercising self control can be both difficult and boring, but it actually has many not-so-boring rewards, from staying out of the hospital to being able to afford your own home.

2. Financing your purchases means you aren't sticking to your budget.
What, you don't have a budget? Well, don't despair; it's easier than you think. For many people, budgeting is a great tool for keeping spending under control. It's easy to not realize how much charging a cup of coffee here, and a new book there, can add up over the course of the month and get you in trouble. The solution is to plan your expenses and write everything down. Budgeting can be as simple as making a pen-and-paper list of how much money you earn in a given month, followed by a running total of all your expenses. If you know how much money you have left, then you will know how much you can spend.

3. Credit card interest rates are expensive.
The reason self-control is so important when it comes to your finances isn't a moral or spiritual thing: it's a practical thing. Credit card interest rates are high, which can make financing your purchases expensive. If you don't have the money to pay cash for something in the first place, you probably don't want to make it even more expensive by adding interest to the price. If you buy an item for $1,000 using your credit card (with its 18% interest charge) and you only make the minimum payment every month, over one year you will end up paying $175 in interest. And to top it off, you will still owe $946 on your purchase.

4. Credit card interest rates increase when you can't pay off your balance in full.
To add insult to injury, that great annual percentage rate (APR) you thought you had on your credit card might have merely been an introductory rate that was subject to increase after a certain period if the balance has not been paid in full. An 8.99% APR can skyrocket to a 29.99% APR in the blink of an eye. "But that will never happen to me," you might say."I'll pay my balance in full as soon as it's payday." You may have the best of intentions, but they can easily get derailed by an unplanned expense like a car repair or an unexpected event like losing your job.

5. A poor credit score can affect your insurance rates, being accepted for a job or the ability to finance meaningful purchases like a home.
If your credit card balances go unpaid, your credit score will start to diminish. The next time one of your insurance policies is up for renewal, you may get hit with an unexpected rate increase. Insurance companies that check your credit score when considering your premium seem to assume that if you can't pay your bills, you might be letting your car or home maintenance slide, or you might be an irresponsible person in general, all of which could make you a higher risk by increasing your odds of filing a claim.

Some employers also run credit checks on potential job applicants, and an employer who is concerned enough to check your credit score will probably be concerned enough to not hire you if it's poor. If purchasing or refinancing a home is in your future, your credit score is particularly important, as it will determine the interest rate on your mortgage, or whether you're even eligible for a mortgage at all.

6. Poor financial habits can jeopardize your relationships.
Money is probably one of the main reasons couples and families fight. It can be an extremely touchy subject, especially when there's not enough of it. Budgeting for expenses should be done with your family and significant other in mind.

>>1637248
Universal default only matters if you carry a balance. If you carry a balance you're doing it wrong. Don't carry debt on a credit card beyond the 30 day grace period and you're fine.

7. Financing purchases can lead to higher spending.
Some people spend more money, either by purchasing more items or by purchasing more expensive items, when paying on credit than they would with cash. Purchasing a $1,000 laptop might be easy to accept if you just sign a piece of paper. On the other hand, if you pay with cash, you can physically feel the $100 bills leaving your hand. This will give you a better sense of not only how much that laptop truly costs, but also how much money you have left in your now-lighter wallet.

>>1637252
Someone must have really struck a nerve. All you're doing is proving you're bad at managing your credit card. Just because you're bad at it, doesn't mean everyone else uses credit irresponsibly.

>>1637267
I'm proving that I know more about finance than this entire fucking board.

What's your APR, pal? With what bank? And what's your CL? How much are you paying per month on your cards?

See, you probably won't even answer that or you'll lie.

>>1637267
Also, if you live in the United States, check the back of your shitty little plastic card. I guarantee it's serviced in Delaware since that's where most of the large banks are.

https://www.richdad.com/Resources/Rich-Dad-Financial-Education-Blog/May-2016/New-Rule-of-Money-2-Learn-How-to-Use-Debt.aspx

So is Robert Kiyosaki wrong?

>>1637269
Maybe you'd do better on /b/ or /r9k/

>>1637269
I've had a credit card for 10 years and pay it off every month. I don't know what my apr is because i never had to pay any interest. Pay your bills on time nigger.

>I'm proving that I know more about finance than this entire fucking board.
Lol ok

Avoid debt at all costs. Debt slaves will never know the feeling of true freedom. Enjoy your ball and chain cc

>>1636814
I buy everything with my credit card.
I think poor people pay with cash and everybody else uses rewards cards. Most poor people I know cash there checks at walmart.

>>1637256
Credit card interest rate is 0% if you pay it off every month, plus you earn rewards.

>>1637279
Haven't been on /b/ in the longest time. I'm a pretty intelligent person. My time is spent on /pol/, /g/, or here whenever there's a Robinhood General. But this is just the dumbest fucking thread I've seen on here

>>1637280
Enjoy using money that is borrowed, pussy. If your card has an RFID chip, know that someone like myself could read it, scan it, and upload it to a blank card and wipe your shit clean.

>>1637283
/thread

>>1637284
Typical nigger.
>YA NIGGA I GOT MY FUBU MASTACARD WE WUZ KANGZ EDITION SO I CAN BUY ME SOME JORDANS AND TIMBS SENPAI

Also, fuck Walmart. I wouldn't take a shit in there if it were the last toilet in the fucking Earth.

>>1637286
You can't even fucking spell properly. You know nothing, college kid. Enjoy your plastic albatross.

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>>1637287
Lol, whatever you say pal. I'll stick to paying my necessary bills with the benefits of cash back or free rewards, and only swipe what I can pay from my checking account. I don't know why you think they put mind control in the cards, maybe you're just a financial retard or a troll.
>bro trust me you don't want to get jewed into a mortgage, literally just save 200k in cash! Leverage is scary dude, no way you should use margins, what if you make a bad choice. KYS

>>1637295
Went to school for business and finance as well as real estate, punk.

Stick to your little plastic hell and never be free financially while I go to high end stores and drop thousands of dollars without blinking an eye.

>>1637287
>. I'm a pretty intelligent person
Intelligent people don't argue with strangers online.

Arguing online is only incidentally addictive. Your instinct when attacked is to defend yourself. But like a lot of instincts, this one wasn't designed for the world we now live in.

Counterintuitive as it feels, it's better most of the time not to defend yourself. Otherwise these people are literally taking your life.

>>1637295
Also, mortgages are for idiots. If you can't put 50% down, you don't need to own a home. I've got an investor looking to buy my great aunts home with 1.75 acres.

He plans on widening the drive, restoring the home, and building another home on that lot since it has a lot of depth. But what would some debtcuck know about real estate?

Lost causes. All of you. Jim Cramer loves losers like you. Really does. I bet you've got your little QuickSilver and think that you're God.

Take that CC to Cabela's, get a S&W, some rounds, and put one through your head. It won't hit much since there's nothing up there obviously but just try it.

>>1637302
This isn't /psych/, bud. It's /biz/ if you can even call it that.

>>1637307
The fact that you responded to him proved his point further. You look so insecure that you have to defend yourself from everything that is said to you on an anonymous image board.

>>1637305
>dumps a giant lump sum into his property
>interest rates for RE are at historic lows
>cannot possibly think of any other opportunities to make a higher return with that giant 50% down payment.
Well played gentleman, if only those dumb dumbs knew all usury is a trap!
It's simple, interest makes more money to pay!!! Not for me no way José!!!

>>1637269
>I'm proving that I know more about finance than this entire fucking board.

What, by copy and pasting this mom-tier advice about how racking up debt is bad? Wow, we got a pro over here guys.

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>>1637147
>people should not drink alcohol because i ruined my life with alcohol
>people should not drive cars because i drove my car carelessly and crashed
>people should not eat hamburgers because i ate too many hamburgers and got heart disease
etc

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>>1637252
>>1637254
>>1637256
>>1637257
>>1637258
>>1637260

Poorfag please. Just don't use a cc if you can't handle it.

>>1637224
>You know absolutely nothing about finance
>Has $1000 credit card debt at like 20%

Haha the blind leading the blind. Please financial guru, how can I too rack up debt?

>>1637254
>2. Financing your purchases means you aren't sticking to your budget.

What?

Yes it does.

I have a budget and log my major purchases you fucking clown. Credit cards are just a method of payment. Do you think I have the impulse control of a 14 year old girl and just rack up $15 000 on shit I don't need??

>>1637258
>5. A poor credit score can affect your insurance rates, being accepted for a job or the ability to finance meaningful purchases like a home.

Yes I know. That's why my credit score is 750.

>>1637231
>Keeps all of his "savings" in a savings account
>Can't use a credit card properly and racks up unplayable debt

If you knew anything about finance you know you aren't making any interest in a savings account. You need to be holding stocks. You would also know a credit card is a free 30 day loan during which time you can be using that money to make money in the market. You would also understand credit cards give a couple percent back on every purchase which can ads up. It also builds credit (not for people like you who don't know how to use one though.

Most of all: EVERY BUSINESS STOCKS INVENTORY USING LOANS. A grocery store can not afford to pay for the products it receives at the time it relies them at, so they usually pay 30 day slater when they have moved the product. This is simple shit to understand, but people like you who know nothing about the real world of business of finance can continue to pay for everything in cash like the cool rappers on Instagram do.

i just use my debit a lot because i dont want to walk around with $20 of loose change

>>1636814

There is NO reason to use a debit card. They are almost identical except that with a credit card you pay a monthly bill instead of an immediate withdrawal.

Benefits of a credit card:
> you can dispute a phony charge
> 2% - 3% cashback
> Extra money if you need it
> Build credit

>>1637168
you cant pay off the charge when it shows up? then why the fuck are you buying it?

stop living out of your means and saying getting a cc is a bad idea because "you could be impulsive like me and fuck yourself".

you abused your credit, and didnt use it to help you.

dont give people bad advice just because youre too stupid to make good decisions.