The Secret History of the Credit Card (full docume... - Page 4

gertrudecloset · ‎02-13-2021

https://www.ramseysolutions.com/debt/credit-card-rewards

https://www.masslive.com/business/2019/08/the-truth-about-credit-card-rewards-how-cashback-rewards-c...

A Negative Mind ~ Will give you a Negative Life

Linda0215 · ‎10-23-2015

@gertrudecloset wrote:
@Linda0215 wrote:
Thank you @gertrudecloset. I'm going to watch this when I get a minute. I've worked really hard over the past six years to get my credit in order. It was never really bad but I did carry very high CC balances at times. I now pay everything off each month so I'm in very good shape, but boy, once they've roped you in, it's almost impossible to get out from under that debt.
Yes, please do @Linda0215 . This will make you a better user of your credit cards. It's not to disuade you from using them, but to know what they know so it helps you make an informed decision about their use. Not just offers in the mail and "sign me up, jane!"

It's good to see you, by the way.

You as well. Been busy with "the job" so it doesn't leave a lot of time for one of my favorite pursuits 😁

novamc1 · ‎07-02-2015

There's only one thing I've ever needed to know about credit cards.

If I pay them off on time in full every month, they do nothing but benefit me. I have access to free money until the month ends when my bank autopays the credit card balance. Meanwhile, the bank is paying me next to no interest for holding my cash.

If retailers have to charge more for goods and services because of fees they pay for each card transaction, just think how few transactions and customers they would have without accepting credit cards. More businesses will close than already have been closed up in the pandemic and inflationary environment.

What should be taught at a young age is that one should not spend above one's income, and credit cards are an easy trap for people who don't live by that lesson.