Why Credit Cards Are A Scam - Honest Ads

[rpannier]

[tblue37]

1. K&R for visibility. nt

[msongs]

2. no interest if u pay off your card every month on time. btw cards are rectangular not square nt

[flibbitygiblets]

3. 100% agree!

It's much safer too: if your debit card gets hacked, your checking account is in jeopardy (at least temporarily), but if your credit card is stolen/used fraudulently, you're held harmless. I never use a debit card.

Final note, back when we could travel, credit cards give BIG travel points and or cash back via sign-up bonuses. The key is never spend more than you budgeted, and pay off every month no matter what.

[True Blue American]

4. I would not have a debit card.

Use one card, pay off, they back your purchase and it is an easy way to keep track of your spending.

You also get money back. Never spend money you do not have in your checking account!

[True Blue American]

5. Reminds me of

Tom Sellick and his Trust me Reverse mortgage ad. Doesn’t he have enough money? Fred Thompson before him.

[rpannier]

11. I think Pat Boone also advertised the reverse mortgage scam

[True Blue American]

13. He did! Companies then turn around, sell the

Mortgages to others, next thing they know they lose their house.

Tom really makes me sick acting like it is free found money to desperate old people!

[Gore1FL]

6. I collect the bonuses and pay in full each month.

I have couple of 2% cards and one that 4% on restaurants. I take advantage of Discovers 5% cash backs when that's possible.

[Dial H For Hero]

7. I do the same. The points I get from signup bonuses and earning points via spending enable me to

travel internationally two to three times per year in business or even first class for virtually nothing.

Well, not at the moment....but I hope to start again before the year is out. I have a million and a half points burning a hole in my pocket.

[True Blue American]

8. Yes,use the card that best suits your life style

Last edited Fri Jun 19, 2020, 07:30 AM - Edit history (1)

To get money back. Right now it is a Grocery card. And store card. Been doing a lot of online shopping. Found out going from store to store, not finding what you want.

My 4 year old TV was hit by lightning, had a surge protector. Few in the stores, ordered online from Best Buy, the service was great. Delivered, even brought it in the room, even though it was to be garage. Son insisted on installing, could have had that,too,for a price.

[Dial H For Hero]

9. Right now my trifecta of preferred cards are all American Express.

Platinum for airfare purchases (5x points), Gold for groceries and restaurants (4x points), and Blue Business for everything else (2x points). Adds up fast!

[True Blue American]

10. Yes,We are saving all kinds

Of money spending money!:’

[lastlib]

12. I'm all for using someone else's money for a few weeks at a time....

Pay it back IN FULL every month, it's interest-free.

Credit card companies call me a "Deadbeat" because I never pay them anything.

[True Blue American]

14. Me too!:)

Tough luck that we know how to manage money!

[lastlib]

15. A few years ago, I went to purchase a new car from a local dealer.

When it came time to talk financing, the dealer went to look up my credit score to see if I qualified for the loan. When it came up on his screen, his jaw dropped; then he said, "Wow--that's the highest credit score I've ever seen!"

I took out a five-year loan on a new car; I paid it off in one year, saved $2500 in interest.

[Dial H For Hero]

17. I had just gotten my AmEx Platinum when I purchased my last car.

With the trade-in, I owed around $8K. I put it on my card, meeting the minimum spend for the 75,000 point bonus in one fell swoop.

Needless to say, I would not have done so if I hadn't been able to pay down the balance immediately.

As for credit scores, I have to laugh when people tell me I shouldn't have over a dozen cards because it'll kill my credit (which is currently around 820). Most people don't understand how credit scores are calculated.

[OverBurn]

19. Yes I pay mine off every month. The cash I get back from my Amazon card is a very significant amount

[Dial H For Hero]

21. Then there's online shopping portals such as Retailmenot and Rakuten that give additional cash back.

I just now put in an order at Bass Pro, and Retailmenot added 16% cash back to the transaction. It should be noted that cash back numbers this high are very rare, I think they're offering it right now because of Father's Day.

[Bengus81]

16. He should have mentioned their "minimum interest" FEE..........

Yes...your a good person and carry a small balance on a low interest card. So....you pay it off but walla, on your last payment the interest might only come to OMG...10-20 cents. Well BOA, Discover and the others can't let THAT happen so they have a FEE that charges you $1.50 in interest even if you only owe them five cents.

But hey...it's ONLY $1.50 right??????? Yeah,times MILLIONS of customers.

[Dial H For Hero]

18. So pay off the card completely every time before interest kicks in. Problem solved.

I haven't paid a penny of interest on any of my cards for years.

[Stuart G]

20. Very good idea...I try to do the same..Thank You for mentioning this.

[marie999]

22. We use one credit card for just about everything.

It is a cashback card that we pay off every month. Every February we get a check for between $1,000 and $1,200 dollars. Why would we want to pay cash? Also if you have a problem with a product you just bought it is easier to get a replacement and we have even had the credit card company take it off our bill because the company we bought it from did not act in good faith.