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01-07-2017, 09:42 AM #1
Things that make you go hmmm....
Last year, I earned about $700 in cash back from credit cards, and less than $2 in interest from my bank accounts.
01-09-2017, 09:26 AM #2
But it is a crazy system where you are incentivized to spend and not to save.
01-09-2017, 10:28 AM #3
Yep. It's like the whole system is rigged to keep you in debt. Or at least make sure debt keeps on growing.
01-09-2017, 11:48 AM #4
Keep working the angles. As long as you pay those bills in full, spending on cards - and time spent card hacking - is worth the effort.
01-09-2017, 02:11 PM #5
What about all the people who run up credit card debt? How are they benefitted by this system? W
Or all the people who spend more just because they are using plastic/seeking points (even if they pay all bills in full)?
And don't forget the extra costs we all pay thanks to transaction fees.
I understand this is how it is. But why are we playing this game? Why not push to change the rules to ones that make more sense for everyone?
We need rules where you are encouraged to save. To be thoughtful with your spending. And to pay for the good and services you buy, not for transaction fees.
01-10-2017, 08:05 AM #6
It sound like I need to re-think my credit card usage. I earned nowhere near that amount.
01-10-2017, 10:46 AM #7
Don't let the temptations of card hacking get you in trouble. People have spent more than they an afford. And even gotten banned by banks for trying to cheat the system.
But in moderation the sign up bonuses and rewards points can be pretty lucrative.
01-11-2017, 10:33 AM #8
This sounds very mercenary, but here it goes:
If it was not for all the people mis-using credit cards, the rewards programs wouldn't be so generous for the rest of us.
01-13-2017, 10:06 AM #9
And sure I feel bad for people who make financial decisions. But they would do that w/o credit cards.