Credit card or Not!

[SoulRaven]

We use 2 different credit cards, paid off monthly. I keep a running total, similar to what one keeps with a checkbook so I know how much we are spending all the time. Just retiring early, on limited SS, no fancy pensions, I will go to a very strict budget, having done it a few times in the past, know how to control spending. We like the credit cards for the cash back and the other gives coupons on their website. It works out well. I have a "frugal genetic" thing that has been active since I was a child!

I always put my credit card in 3 other ways before I get the right one. That little picture on the machine doesn't make sense to me! You will be a waiting a couple of extra minutes behind me!

 

[grandpacamper]

See touchy subject, I wish I was more controlled financially but alas, not happening. Chance of fraud was mentioned, true a credit card is better, debit cards can cause undo hardship. Since I refuse to fly the problem of booking a flight is something that I avoid, along with the long lines at the baggage counters & boarding. I'm very thankful that whenever I have to take a friend or relative to the terminal I can't go with them to the gates, say my goodbys at the curb. I don't have to find a parking spot in the multi-level parking garages. Also, never planning to stop at a hotel again (van dwelling), I hope never to have the issue of booking a room without a card.

As for the fraud with debit cards, I never use my card for our weekly dinner date only at the CU's ATM. I pay strictly cash, also cash for my tip with the comment 'No change'. Lesson learned from my daughter who has been in food service for many years. As someone who has been diagnosed as Asperger, math has always been my strength. I can quickly scan, divide & add up the bill in my head, add my 20% tip without worry of fraud or double swiping my card out of sight. I control the flow of cash from my wallet. Never had more cash taken out of my bank account that I didn't allow. I watch my accounts on a daily basis, never have auto payments setup with exception of NetFlix or Hulu, pay my homeowners/auto insurance in lump sums. Pay everything online, no unnecessary statements getting lost in the mail. With only 6 monthly payments to track, it's becoming easy.

So as for those who pay their cards off monthly & reap the rewards, kudos to you. I don't drink, smoke or do any kind of drugs prescription or otherwise. But many do & can control those, many can't. As someone who is aware of my OCD tendencies I don't chance overdoing my doses or indulgence. We have an opioid problem in America that staggers the imagination, seniors retiring in debt, our national credit card indebtedness has now topped a trillion dollars & still rising, many are not paying their bills off monthly. Mortgage loans, student loans & auto loans are in horrendous territory with no relief in sight. I chose not to contribute. Have a nice day!

 

[Every Road Leads Home]

See touchy subject

Ha, I had no idea it was such a touchy subject, but you're right.  Fortunately, there are numerous ways to handle one's own money.  As with everything in life, you have to do what works for you.  I'll agree, the country is in dire straights with the amount of loans hanging over everyone's heads.  I've always said the collapsing of student loans will be our next meltdown,  just like the housing crisis that finally burst.  I now know a handful of people in their late 30's still carrying over 100k worth of student loans.

 

[grandpacamper]

Ha, I had no idea it was such a touchy subject, but you're right.  Fortunately, there are numerous ways to handle one's own money.  As with everything in life, you have to do what works for you.  I'll agree, the country is in dire straights with the amount of loans hanging over everyone's heads.  I've always said the collapsing of student loans will be our next meltdown,  just like the housing crisis that finally burst.  I now know a handful of people in their late 30's still carrying over 100k worth of student loans.

I watched a 'Frontline' documentary in 2012 on credit cards made back in 2009.  It opened my eyes.  It sit the stage for my debt load & recovery from the cycle.  See it here

It's 56 min long but really was helpful.

 

[John61CT]

A pretty risk free way to get some of the convenience is pre-paid cards,

AMEX has Serve and similar throgh retailers like BlueBird. No credit check.

I use Serve, use for direct deposit.

Four FREE sub account cards with any names you like including same as the primary card.

Use one for auto-pay, if a vendor tries to be difficult, free to cancel that card get another.

Free loading at any CVS or Walmart, or up to $200 a day online instantly through a debit card.

Can tie to PayPal.

cost max $1 per month, one free ATM withdrawal per month, that's the only fee.

If you are active or empty, they waive the $1.

 

[Every Road Leads Home]

I watched a 'Frontline' documentary in 2012 on credit cards made back in 2009.  It opened my eyes.  It sit the stage for my debt load & recovery from the cycle.  See it here

It's 56 min long but really was helpful.  

I'm 100% debt free.  Paid cash for my house and truck.  Spent most my 20's working and over spending.  I now purposely keep my credit score low (well not really, I just don't care what it is or even know what it is) so I'll never be tempted to fall back into the trap.  Credit scores are a sham, they're to keep the rich rich and the poor poor, i've opted out of that game.

 

[gcal]

Over the last few days I got into the credit card/cash preference circular vortex again. I've got to learn that others opinions are just that - opinions. While I choose to forgo credit cards & opt for mostly cash it's still a touchy point to argue about it. I was not very good with paper, it took me 5 years to arrive at the point I am now, no debt & no credit. As stated it works for me.

This morning I went to our local Home Depot, I piled 5 of the orange buckets with lids & a bow saw I will need for various tasks around my proposed camp setup. When I was ready to check out I passed the self-checkouts, I self-destruct whenever I try to use them. Always seems to have trouble figuring out which side to put the checked items. I refuse to go to them anymore, I also avoid the squawk boxes when stopping for a burger, can't hear & the verbage is full of static never know what I'll be eating when I leave. I like to sit down to dine when I go out.

Back to my HD experience. The only two check stands were the ones at the contractor doors. I walked up behind a woman who was holding 2 tiles. Good I thought this will be quick. Wrong! she was ordering tile for her bathroom. I don't know what her & clerk were discussing (hearing again) but after the clerk tapped her screen several times she had to call one of the bosses to clear it.

After they got back on track I noticed the two people behind me had moved over to the other check stand. The clerk kept glancing at me. I was just standing with my cart smiling. The woman then tried her card. But first she had a coupon, more tapping, clearing & tapping to get the discount. She then swiped her card & what seemed to me like she was typing a book on screen after screen the process was finally ended. She got her receipt walked away, the clerk apologized to me & my only response was, 'Ain't technology great?' This is coming from someone who has been in the tech world for 53 years. It seems that without fail I've never seen anything go right with HD & tech. That experience took 10 minutes, but since I'm retired & not in a hurry at that time I just wanted to time it. I handed the clerk my 2 $20 bills, got my receipt in less than a minute. Walked out with a smile.

Two other things happened on that trip, I was able to buy a bow saw for half of what Amazon wanted saved me $10. The other was to check out the propane tank exchange. I would have to pay Amazon $47 for an empty new bottle. I can buy a bottle no-exchange filled with propane for $48 from HD & the bottle is mine to be refilled over & over. HD charges $15 for an fill up. I'm assuming I can probably save a little if I shop around. Don't know.

I guess it is a person thing. Different strokes for different folks.

Know thyself.

 

[peripatetica]

What's wrong with AAA? Am I missing something?
We are members, have 3 cars (our daughters' too) and maybe once or twice a year have a dead battery (car sitting around unused too long) or a flat tire. The work is covered by our membership fee. Twice, over the years, our car, no. 1 or no. 2, needed to be towed to repair shop, and that was covered. And as members we also get various discounts at motels and shops.

 

[Trebor English]

AAA is for emergency tow.  Don't buy a dead car planning on AAA to tow it home.  That's not an emergency.  Don't get an emergency lithium jump starter and run it down using it like a flash light.  It won't jump start your car if it is run down.

 

[bullfrog]

Be sure you know the tow limits, lots of companies don't do off pavement, tow over 100 miles or only to nearest repair facility. Our first tow was over $800 and we see others at over $1000. We have lots of recovery equipment and a $125 a year tow policy that once we get to pavement gets us where we need to go usually about 225 miles and usually on a rollback. By the way once you get in remote areas cash is required most times not credit cards.

 

[TrainChaser]

Dusty98: "Now that McDonalds lunch bill is more than a 14-18% increase, if my rusty math and fat fingers on the calculator are right, that's a 55% increase..."

And the extra calorie count increase is even higher than that!

 

[John61CT]

Eating prepared food is a huge waste of money and less healthy, and forget restaurants.

My family gets that once a month, celebratory event, we take turns choosing.

Occasional sweet treats, but wrt meals, every other morsel and calorie is home-cooked from basic ingredients.

Compared to other average non-poor Americans, just this alone frees up many hundreds of dollars per month for things that actually enhance our lives.

What some people I know spend on just their daily drinks and snacks per month is higher than our total budget for real food.

 

[Ballenxj]

  Credit scores are a sham, they're to keep the rich rich and the poor poor, i've opted out of that game.

Yes they are. A friend that happens to be a commercial real estate broker, and is paid to give lectures about it told me the same thing years ago.
Good thing too, because I clicked on that video and an error message popped up stating it is not available in my area? What? I've not seen that happen before with a video? :dodgy:

 

[Gary68]

mirthful sardonicism

an equal part coconut oil and olive leaf extract rubbed 3 times a day will take care of that for ya

 

[Gary68]

credit scores-i have none,never used credit,i save then buy

my sister,loves credit cards,bankrupt 2-3 times, has excellent credit score

 

[Ballenxj]

an equal part coconut oil and olive leaf extract rubbed 3 times a day will take care of that for ya

Don't forget the tea tree oil. If the first application doesn't work, you're not using enough.

 

[TMG51]

an equal part coconut oil and olive leaf extract rubbed 3 times a day will take care of that for ya

I'm treating the condition with beer.

 

[Ballenxj]

I'm treating the condition with beer.

Aye, that's cheating! Did your Doctor say you could do that? :huh:

 

[SoulRaven]

I learned that our auto and home insurance ran a credit check. We have perfect, never a late payment, etc., BUT I was told that we really should buy something on credit and make payments and that would improve our score. Yeah, that isn't going to happen.

The credit cards are a hassle. When on my own, I am just not sure I won't wean totally off of them. We have had breeches lately, we are careful and suspect the companies themselves, but in the last almost 30 years, there were no breeches and now in the last four years, there have been 5, one just through Discover.

Working to be hassle-free!

 

[Ballenxj]

BUT I was told that we really should buy something on credit and make payments and that would improve our score. 

They want you to feed the giant in exchange for a better score on "their" score board.