Credit...

[JadeRaven]

Somehow, I think you missed that I pay my credit-cards down to 0 several times a month and have paid only membership fees ($39) and yet gotten several hundred $$ cash-back.

How do you support your above statement?

Yes, I did buy a new car, I don't think there is anything wrong with that, though. I'm not Amish (not that there is anything wrong with being Amish).

No, I didn't miss anything. To get cash-back necessitates your spending money in the first place. At 2% cash back, which is pretty rare for credit cards these days, it takes a lot of spending to accumulate several hundred dollars in cash back.

And I support my above statement with this whole damned thread. If I went point by point and wrote a dissertation, then it wouldn't be a summary

Essentially this thread boils down to the male version of the cliche oxymoron "Honey, I saved so much money shopping today."

 

[JWG223]

No, I didn't miss anything. To get cash-back necessitates your spending money in the first place. At 2% cash back, which is pretty rare for credit cards these days, it takes a lot of spending to accumulate several hundred dollars in cash back.

And I support my above statement with this whole damned thread. If I went point by point and wrote a dissertation, then it wouldn't be a summary

Essentially this thread boils down to the male version of the cliche oxymoron "Honey, I saved so much money shopping today."

Well, over the course of a year I do buy a lot of food and gas. That's all I got cash back on is food and gas (until I got this last card). Since I am not obese, and I don't take very many road-trips, I am forced to assume you want me to starve myself and stop driving? I'm not tracking with you here...

What do you propose? I just pay cash for it instead of getting my 2% cash- back and then paying the card when I get home after putting the groceries up? Why? That's not making sense. I use my credit-card because I choose to, not because it is necessary. What logical reason can you give me for choosing not to get 2% off on everything I buy?

 

[JWG223]

You don't get it.

Yes, I don't like paying interest.

But the issue is:
You don't own it if you owe on it!





B/c when you offset that with how much you owe/pay in interest you COULD be improving your life with...
Life sux.


Actually I am more than breaking even on my phone.
Computer is a work (School) expense... but that's not the point.
I bought a BMW motorcycle B/c I wanted it...

but I PAID CASH!
It's MINE. Yes, I'm not paying interest on the money, but that's not the point... Anybody who tries to take it I can shoot.
You on the other hand, if you screwed up at work can have ALL your little toys taken from you in a short amount of time.

That security is nice.

We have gone over alot by PM, do you remember me going into detail about how if you are JUST willing to continue to 'live cheap' and save for a couple years after college you can buy the BMW motorcycles (Or equivalent), HAVE the nice things, and NOT owe on them!

This gives you 2 things:
1. Security... it's yours and you arn't gonna loose your toys
2. No interest... and you can take that money you are paying in interest and MAKE money with it to buy MORE toys!
(Or speed up your retirement)





Like I said... You DON'T pay it off each month, you admitted it, but you KEEP saying it!



IF you get market price. (Or what you bleieve is)

I just picked up my Toyota a couple mon ths ago for 50% of Blue book.

-The only thing that could be taken is the car, and that's something I would sell before it was taken. Even if I did a fire-sale I would com very close to my pay-off. Dealer trade-in is within a couple thousand right now.
-Yes, it would have been nice to pay cash for it, but by the time I could have paid cash for it I probably would have moved on in life. Some things I think should be enjoyed at certain points. Single, no kids, now's the time to enjoy something absurd rather than trying to sell the idea to a possible future SO.
-That's great on the Toyota. I got my car at a few hundred bucks over invoice. About as good as you will get ordering a car to be built to spec.
-I guess once I pay off my LOC all you will have to hold over me is the car, which I consider a moot point. Paying that LOC off would almost be worth it just from that stand point, lol :P

 

[JadeRaven]

Well, over the course of a year I do buy a lot of food and gas. That's all I got cash back on is food and gas (until I got this last card). Since I am not obese, and I don't take very many road-trips, I am forced to assume you want me to starve myself and stop driving? I'm not tracking with you here...

What do you propose? I just pay cash for it instead of getting my 2% cash- back and then paying the card when I get home after putting the groceries up? Why? That's not making sense. I use my credit-card because I choose to, not because it is necessary. What logical reason can you give me for choosing not to get 2% off on everything I buy?

I am not proposing nor desiring that you do anything different. Just making observations

 

[my-rifle]

JWG223, if it's any consolation, my wife and I put the car we bought on my credit card, then paid it off immediately - as in before we went to bed that night, so we could get the points.

 

[JWG223]

I am not proposing nor desiring that you do anything different. Just making observations

I guess I am failing to comprehend why it is a negative that I buy things with a CC and then pay it off vs. paying cash and not getting it 2% off.

 

[Nomad.2nd]

-The only thing that could be taken is the car, and that's something I would sell before it was taken. Even if I did a fire-sale I would com very close to my pay-off. Dealer trade-in is within a couple thousand right now.
-Yes, it would have been nice to pay cash for it, but by the time I could have paid cash for it I probably would have moved on in life. Some things I think should be enjoyed at certain points. Single, no kids, now's the time to enjoy something absurd rather than trying to sell the idea to a possible future SO.
-That's great on the Toyota. I got my car at a few hundred bucks over invoice. About as good as you will get ordering a car to be built to spec.
-I guess once I pay off my LOC all you will have to hold over me is the car, which I consider a moot point. Paying that LOC off would almost be worth it just from that stand point, lol :P

- You think
-Yep... You DESERVE IT (Or something) rather than setting up the rest of your life for success
-Probably... I wouldn't know You a racecar driver or someone who would notice? I figure that's about like those looking to put on a custom barrel when they SHOULD be spending the $ on enough ammo to shoot it out in practice. I'd of (And have in a small way) spent the $ on driving classes.
-Not holding the car, or the CC, but the MINDSET!

 

[JWG223]

- You think
-Yep... You DESERVE IT (Or something) rather than setting up the rest of your life for success
-Probably... I wouldn't know You a racecar driver or someone who would notice? I figure that's about like those looking to put on a custom barrel when they SHOULD be spending the $ on enough ammo to shoot it out in practice. I'd of (And have in a small way) spent the $ on driving classes.
-Not holding the car, or the CC, but the MINDSET!

-We have a different mindset, that is clear. Considering I know people like myself, who a few years later owned their car outright, paid it off no problem, and enjoyed the hell out of themselves doing it, and considering I know people like you, who saved and saved and bought what they wanted and enjoyed the hell out of it, I am inclined to say that who is "right" is a matter of opinion.

-It's not about "deserving" what I have. It's about going out, getting it, and paying for it. Whether I pay all up front, or in installments. I deserve it because I pay for it. When I cease (if I cease) paying for it, I will cease to deserve it, and I will either sell it or it will be taken from me.

-I am not talented enough to wring out the performance this car has. Plenty of pro drivers cannot do that with this car. It doesn't mean I don't enjoy it. I did enjoy learning how to better drive it at Spring Mountain Motorsports Ranch earlier this year.

-I guess your issue is my mindset and not my finances, you feel I have an inability to save money. I disagree with you. The proof will be in the pudding, as they say, because we can both debate my financial solvency until we are blue in the face, you with your opinion, me with mine. However, YTD statements next year, and the year after, hold final sway. Until they come to light, it's all just mental sparring with no reality in the mix. You can tell me what you think could, might, possibly happen, and I can tell you what I doubt, don't think, shouldn't, etc. all day long. Let's just wait and see

-The only thing I own on credit is my 'vette. My daily I hold the title too, and the loan I took out, I gave to my Dad. It's money for my education, not representative of anything material. I decide I want to lighten up, I drop the 'vette. Not a real game-changer, except I would miss it greatly.

 

[JadeRaven]

I guess I am failing to comprehend why it is a negative that I buy things with a CC and then pay it off vs. paying cash and not getting it 2% off.

I guess I never said it was