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  1. #1
    Registered User Senior Member
    Posts
    189

    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.


  2. Things that make you go hmmm....
  3. #2
    Registered User Enthusiast
    Posts
    76
    Bravo!

    But it is a crazy system where you are incentivized to spend and not to save.

  4. #3
    Registered User Senior Member
    Posts
    101
    Yep. It's like the whole system is rigged to keep you in debt. Or at least make sure debt keeps on growing.

    Yeah financialism.

  5. #4
    Registered User Junior Member
    Posts
    30
    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.

  6. #5
    Registered User Semi Pro Member
    Posts
    267
    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.

  7. #6
    Registered User Junior Member
    Posts
    33
    It sound like I need to re-think my credit card usage. I earned nowhere near that amount.

  8. #7
    Registered User Senior Member
    Posts
    115
    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.

  9. #8
    Registered User Junior Member
    Posts
    43
    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.

  10. #9
    Registered User Enthusiast
    Posts
    53
    Quote Originally Posted by McHale View Post
    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.
    The use the signup bonus to lure you in and collect tons of fees (taxes) from your usage. They hope you don't switch cards too often. So until the rules of the game change, mercenary is the way to go.

    And sure I feel bad for people who make financial decisions. But they would do that w/o credit cards.

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