So explain credit cards to me Sup Forums

So explain credit cards to me Sup Forums.

I've had one (under advice of my parents) ever since I was 16 around 2008, and I've never really questioned it as paying off small purchases is very easy.

But it seems like everyone online HATES credit cards with a passion, what's so bad about them as long as you charge and account responsibly?

But also, how do I decide which credit card is the best to me? Politically all credit companies are known as evil shit bags, but how do I find the best deal?

> tl;dr redpill me on credit cards Sup Forums

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You just jeep payong jews shecklestein

Dads advice of wisdom I live by

>Dont spend money you dont have

That means even if you have the means to pay the credit card back just use cash.

The man saved money for his house and cars cash down and never paid a dime of interest in his life.

He fucking out jewed the jews.

If you're good with money, they're great. They boost your credit score as long as you always pay them off on time

>subliminal

But what's the harm of mixing the two just to increase credit for future big purchases like a house when I start growing a family?

Jewish tricks to make you spend money you don't have on things you don't need to be payed back to Mr. Goldberg at a low low rate of 5% interest

IRL - use for daily expenses and pay off at the end of the month, usually get perks or cash back

Internet(millennials) - use it like a check you got in the mail and find out you have to pay it back with 30 -35% interest because you didn't read the terms like a good goy.

credit is a tool, you can build with it or cut off your hand and dick in one swift motion.

Don't use the card Jew

They want you in debt

Credit cards are usury. Yes, if you use them responsibly, they build your credit, are nice have when renting a car, staying at a hotel, etc., but the business model thrives on human weakness. Every ounce of profit fed to them weakens the human constitution. You seem to know that, yet you ask to be "red-pulled." This seems like a /biz/ post.

Because you're spending money you don't have, how the fuck do you think the 2008 mortgage crisis happened? Retards thought credit would solve their problems and dumped a bunch of insolvent loans back on the banks who could do fuck all with them because nobody wanted to touch them with a 10 foot pole

But what if I never go over $1000 a month?

Even after rent and living expenses I have $2000~ in extra money that goes into savings anyways so I'll always be able to pay that off

Just get one and use it like you would a debit card as a way to boost your credit easily. They're only for people that actually have enough willpower to stop them from buying shit they don't need and can't afford, which is sadly rare these days

People hate credit cards because they get hounded by the banks for non-payment or they see their loved ones hounded. Basically they are degenerates with no self control.

If you have a brain you can play the jew at his own game. Sign up for cards with rewards, sign up bonuses and no fees. You can start with credit cards from walmart or amazon.

I never once used credit.

I do what my dad did I want a car off a lot I save the money for it and roll in their with the full payment.

I mean if you dont make good money I guess you'd have to rely on credit and to that I recommend finding a better job.

The shitty thing with credit cards is that they make the minimum repayment really low and the interest rate really high so people will wind up owing huge sums for relatively few expenses if they don't bother to be more careful about their finances, which few people are. They're designed specifically to exploit stupid people and they're a big part of the reason why there's so much private debt now, that's why people hate them.

So why would you want to pay more money at the end of the month when you could just dip into the money you're using for savings? Rather than paying off the inflated cost of using the credit card?

So, the rule of don't spend money you don't have holds true here, but credit cards are still very useful. The key is to pay it off in full each month. You incur no interest this way, and it builds your credit score. In my case, I have the Citi double cash card. Essentially, by paying off my card in full each month i get 2% cash back on all my purchases without owing any interest. It's basically 2%discount on all purchases. You can't get that with cash. However, sucking to cash helps prevent over spending if you're not usually careful on your monthly budgeting.

Debit card is better, don't spend money you dont have fag.

How do you buy anything online then, or does your mom buy all you diapers at the local pitstop?

There is as much wrong with credit cards as there is wrong with the monetary system as a whole. I can go on and on about how the zionists took over the money, turned it into useless paper and shit on us every day, but more importantly is the fact that currency is an archaic concept of "What do I get out of this" Capitalism is a system of greed and corruption by it's very nature, and currency should not exist.

This.

Use your credit card for its bonuses but always remember cash is king.

Turning 25 soon, closed on a rental property, perfect credit score, Amex just contacted me and said they were raising my credit limit by $4500 for being a bad goy.

...

Credit cards are great if you get perks and pay them off each month. I use my venture card for nearly everything and just pay it off. I get double points so last year I had nearly $1000 dollars worth of travel vouchers I used to go to Europe for free. So as long as your not an idiot they are fine.

How do you not know that debit cards work online? oh wait, it's because you're a fucking leaf

Always be a "deadbeat". That means you pay it off every month and don't pay interest or late fees.

And if you have a card that charges you interest from the day of the charge, stop using it.

The other perk of credit was that back when banks still paid interest, credit cards let you hold money in the bank longer so you'd generate slightly more money in interest each month.

I don't use credit because I don't believe in usury.

I'd on't know about him, but all my wife's son's diapers are locally sourced, by an Eco-Friendly commune. We donate a portion of the support check to this wonderful endeavor. I buy craft beer with the rest of the check.

Credit cards are best used for payments that you might need to dispute later. Usually companies bend over backwards to accommodate you since they make the big bucks on the people posting transactions through them.

It's not really reasonable to buy a house without a mortgage nowadays. In order to not get incredibly boned by interest, you need to have a long and clean credit history. Your dad definitely had a good piece of wisdom, but it needs some contour to fit into modern society.

Protip: If you are using a Bank, stop now!
Switch to a credit union. They don't screw you over and you as a member are a co-owner of the union.

I don't know about finding the best one, but all you need to do is make sure to PAY IT OFF AT THE END OF THE MONTH, EVERY GODDAMN TIME.

I used to be in the camp of never owning one, but it's difficult to find a place to live and make large purchases without a credit history.

tl;dr PAY THAT SHIT OFF EVERY MONTH but keep using it.

This nigga knows. Been with a credit union since 2012 and it's great. Fuck banks.

Credit cards are a good thing if you don't actually need credit. They provide a good easy way to make purchases and, if you have a half decent credit card, give around 1-2% cash back. The correct way to use a card is to put every purchase you make on the card, then pay it off at the end of the month in full.

The BAD way to use a credit card is as a way to borrow money. If you make 1000 in purchases on your card and DON'T pay it off, you will lose around 250 dollars in a year in interest payments every single year. Credit cards charge insanely high interest (20-30%) that will absolutely destroy anyone carrying any significant amount of debt. Lots of EXTREMELY retarded middle class/upper middle class people carry 10's of thousands in credit card debt resulting in thousands a year in interest payments. This goes on for years and years sucking up the vast majority of their extra income.

This.
Also avoid cards with an annual fee, usually only worth it if you spend upwards of $10k a year on the card.
Also realize that you are sticking it to small businesses when you use your credit card, they pay visa/mcd a percentage. So does debit, of course, but it is smaller. Even cash brings costs though, banks charge businesses for large cash deposits. Bitcoin is a shitshitshow but really credit cards are the worst, use them to exploit the credit rating system and loyalty programs and otherwise avoid like the plague.

You can do that with debit card... do you really not know this?

All the people saying you should use cash/debit instead of using a credit and paying it off in full are telling you to pay a tax of about 1.5% on everything you purchase.

Credit card companies charge swipe fees to most merchants when you pay with a card. This raises the cost of everything you buy since most people use cards and merchants raise their prices to compensate. If you use a credit card and pay it off in full at the end of the month, you recoup this extra cost through the rewards program on the card. If you don't use a credit card you kind of get the shaft.

It might be better if everyone just stopped using cards so we weren't all paying higher prices in the first place, but since that REALLY isn't going to happen, not using a credit card is basically throwing away money.

I heard you should never spend more then 10% of your credit limit. I have $500 in my credit line so I never go past $50 every month. And I pay it off in full every 1st of the month. Is this a good way to increase your score?

They're the fucking devil, man.


t. Doesn't know how to manage money

TLDR: Treat a credit card like a debit card, every purchase you make on it is now money you don't have anymore.

Credit cards aren't inherently bad, its just possible to fuck yourself over using them irresponsibly. There are a lot of dumb fucks in this world so blanket statements like "Don't ever use a credit card" are likely to do more good than harm. If you know what you're doing, then by all means do it.

FWIW, my wife and I have never had a credit card and have never had a problem buying a car or a house. People saying you need a credit card to build your credit score are wrong.

usury is a scam, in a way
but its also a way you can afford stuff now for a higher total price eventually.
>like a vehicle
>and a house
either of which you might have to save for years before you could afford them. The idea of credit is that you can borrow the money to buy them for the promise to pay it back later with interest. Improve your quality of life by giving part of your income to your lender. Lenders are investing in your ability to pay them back.

Stupid people make stupid credit decisions, though, and end up unable to pay their debts month-to-month. Minimum payments are designed to extract the most interest possible from you, generally the faster you pay something off the less you actually pay for it. Read about about the types of loans and contract law, and never sign a contract without reading it.

Nothing wrong with credit if you don't abuse it, the goal is to have enough income to cover expenses and loan payments with savings left over. If you're getting crushed on living expenses, don't borrow any money until you can either increase your income, lower your expenses, or both. Having a good credit score will allow you to get better rates which equates to getting more for what you actually pay.

>Giving someone online access to your direct bank account through debit card
>Lots of debit cards are ATM cards as well

MFW

>Credit cards are a good thing if you don't actually need credit.

That's the most fucked up thing about credit cards. Having a product that is only NEEDED when someone needs a 30 days shortfall.

Its not a service, its a predatory form of pre-approved loans that rely on making money from when people lose jobs etc...

>Money shouldn't exist
Howany goats do I need to buy this Ford Focus. Did you just finish your liberal studies degree of something?

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they are a trap

credit cards are playing with fire.

They are great tools and horrible vices. I am 1/4 kike so I can manage it but fuck there were times when I just barely had enough to pay the thing in full. I almost got into a debt trap.

What is the difference? I've only ever used banks and just see ads for my local credit union. Always just though it was just a shitty bank

Most dipshits are not responsible and get into heavy debt with their cards

>I hate credit cards, why do I have to pay so much even though I knew I was signing up at 32% interest and maxed it out in the first month? What the fuck?

Stupid people do stupid things, OP.

Also savings accounts are a meme, interest earned on savings in the bank will never outpace inflation. It's better than a wad of cash, but you should be putting your money to work for you. How you do that depends on your situation, I'm not going to give investment advice because it isn't my field. A house with a mortgage is like a savings account you live in, in a way, it depends what the housing market does, so it's riskier. When you sell, you convert your equity into capital you could put toward the down payment on an upgrade. Renting will keep you in the poor house, so to speak.

How do you only have a 500 dollar allowance. Even when I first got my card it was 1-2000k. I don't even remember anymore. They just keep upping it, like every quarter it goes up by like 500 bucks. Guess I'm a bad goy, need to get in some debt

>mfw I only use my debit card online and have never had anything bad happen

You don't actually know how credit cards work, do you...

probably underageb&. only time I had a $500 limit on my credit was in high school

Fact: credit is by far the biggest driver of inflation. It becomes common, and all prices readjust so the baseline just assumes you're taking out some massve loan, anyways. Then you're back at square one, but in a hole of debt. Banks are the worst kind of cancer.

This. It builds credit for you, which means you get better loan rates for mortgages. They're also have huge amounts of protections for consumers.

Just pay it off at the end of the month and you won't pay anything extra. Get a good one and you even get money off purchases through cash back.

Probably. But maybe his bank was giving him a good boy allowance because his mommy was a good loyal goy

>not having multiple accounts
>not having a specific checking account for exactly this that never has more than a few hundred in it
YFW
I mean, yeah, but its happening whether you're taking advantage of it or not.

>"I can't be bothered to read what you posted"

Or maybe you're just a shill spreading disinformation.

Maybe if your RBC debit card is from 2008 you can't . But today all bank cards have visa debit functionality.

>be me
>have points credit card
>buy a used car with it for 15,000
>pay off the 15,000 with 3% interest credit line the next day (well 10k other 5k from account)
>mfw have enough miles to fly pretty well anywhere now

theres a visa debit card for online then normal debit 'client card'

>mfw i work for rbc

See

In Canada only some banks debit cards work online. BMO only recently started changing their debit cards to be debit-credit so it works like a mastercard online now but otherwise is a regular interac debit card at canadian stores.

Would love to know

That's why we have to kill the bankers.

This is really a question for but the short answer is that most people hate them because they were told not to mess with them because so many people fuck themselves from debt

Nothing wrong with them inherently, though

fuck you

>I can't be bothered to read what you posted
I read exactly what you posted and it was a waste of a comment. No useful information relating to the subject whatsoever. Just you spewing bullshit about how capitalism is greedy. You are just a shitposting faggot

Can't do that anymore, I don't think. Now the contracts say you gotta pay your interest, even if you pay the debt off early.

Debit cards are the only way to avoid the financial Jew unless you want to deal exclusively in cash m80

Never had a credit card and will never have a one.

>DEBIT CARD MASTER RACE!

well i just did it. why wouldnt you be able to buy a car with a credit card and pay it off the next day?

Kike detected.

Come at me, Shekelburg!

So I see
>Fuck banks
Thanks should I also just go join a BLM March because I'm 100% in the dark

Would you fools stop pushing this meme? Credit cards are fine if you're not a stupid goy who lives to be scammed.

With what money poo in loo? Did you make an extra dollar salvaging metal from garbage

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If this isn't standard yet, it will be soon.

@85940495
So many shills in this thread.

You shall get no more (you)s from me.

okay if it had a prepayment clause which it doesnt but i see what you're saying

The money I get by renting all the properties I inherited.

uncalled for
>checked

I pay exclusively through credit card for the convenience, fraud protection, and cash back offerings. As long as you spend less then you make you will never have to pay interest.

For the past decade or so I have been using credit cards, not once have I had to pay interest. The card I am using now is a Bank of America MasterCard with 3% cashback on gas, 2% on groceries, and 1% on everything else. I also setup auto bill pay to pay in full from my credit union when the bill is due each month so I never have to even worry about making the payment.

Around here they put a cap of around 5k that you are allowed to use to purchase a vehicle. The rest has to be paid through other means or through a loan.

>They boost your credit score
You mean your debt score. You only need to worry about that if you want to have debt. Which you shouldn't, ever.

Well I've had a credit card for years I never used until just recently when I wound up out of a job with big unexpected expenses I had to make. Now I'm about 1300 into my 3000 limit at 18% annual interest and that's pretty gay but my monthly bills I have to pay are pretty low so any job I get I can pay my bills and work down my credit card. I'm not too worried considering other motherfuckers have zero cash and tens of thousands in debt. Still not happy though.

Your dad has a very poor understanding of how credit cards work.

>Pay in full when buying a house or car.

Ya, that's a practical plan. Getting a loan is stupid but paying rent for years while you save up 200-300K is smart...

Speak for yourself, I could go buy a house in full tomorrow if I wanted. I didn't fall for the "independent" meme and continued living at home while working full time.

not everyone wants to live in Bumfuck Ohio

Is it me or has there been in increase in shilling recently? The catalog is filled with "black women are superior, why don't millennials own a house?, well Sup Forums?, why don't you use credit cards?, etc etc"

>You should never have any debt.
The vast majority of people must to take on debt in order to purchase a home or start a business. Of course, you could continue through life paying your landlord's mortgage for him while being a someone's wageslave to do so.

Be smart about taking on debt and use it to your advantage. Pay credit cards off in full monthly and built your credit so that you can take out a loan when necessary and get a good interest rate.

If you use credit cards within your budget they're a great way to protect all your purchases and get a slight discount on everything you buy.

People get into trouble because they see credit as something they actually own, when in reality it is what owns you. If you pay it off in full monthly, you should use a credit card for everything you purchase.

Yes, because thats defiantly not what happens with credit cards....

Also paypal you cuck.

>what's so bad about them as long as you charge and account responsibly?
I've discovered that a lot of people LITERALLY CANNOT DO THIS:
My sister has a credit card, she spends money on it until it reaches the spending limit, and THEN she pays it off.
Oh but whoops, she went over her limit, got hit with fees. She was angry, "Why does this happen!?" When she explained to me what she was doing, I just flat out told her she shouldn't own a credit card.

Credit cards are how responsible middle class people get wealth redistributed to them from stupid poor people and occasionally lazy upper middle class people.

It's like this, you spend all your day to day expenses on your credit card, then at the end of the month you pay 100% of what you spent.

If you want to be extra careful, make sure to always have how much you usually spend in a month already in your checking account in addition to however much you usually keep in there just in case.

This is stupid. You literally get paid to use a credit card.

YOU DONT NEED CREDIT TO BUY A FUCKING HOUSE YOU GODDAMN IMBECILE

The entire point of a credit rating is to make sure you're a reliable debtor who will pay up. It is literally good goy points.
But STOP AND THINK FOR A SECOND

They just want to make sure you can pay back the loan they give you. If you can prove to them in some other way that you can pay back reliably, you won't have a problem getting a loan. If you come across as a low-moderate risk, at worst they will increase your interest rate.

Here's a solid way to buy a house with a shitty, or no, credit rating:
Pay upfront.

I swear to christ this whole credit rating bullshit in the US is practically a fucking religion

You actually can't do this with canadian debit cards (or most of them at least)

It's really fucking retarded, but you're forced to use a credit card for most online purchases, or shift money from a debit account into a paypal account and then purchase with the paypal account.

>But it seems like everyone online HATES credit cards with a passion

Because they're retards who can't pay off the thing before the interest kicks in after ~50 days so will use debit cards for internet transactions like the naive fuckwits they are.

Except that everything from the way they build the houses on up assumes that you can't afford the house and aren't interested in affording it.

It's like what Henry David said in Walden, the Native Americans could all afford a wigwam without any debt because they were cheap and comfy as fuck, but white people buy houses for some stupid reason. Something like that, I read it a long time ago.

Have fun saving to buy a shitty condo for 4-10 years.

Also note, my condo has gained 80 thousand dollars of value since I purchased it, I've only paid about 20 so far in the two years I've had it and that's principal + interest. I literally made a huge profit just from buying a condo on credit, pretty soon I'll probably trade it in for a house.