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Revolvers increasing your spending?

Moderator

Re: Revolvers increasing your spending?

I do spend more for sure because of the cards I have. I know I can look at Amazon and see how exponential my order creation has been since I've had Prime and also in combo with the Amazon Chase card. If I had Sallie Mae--- that might be worse for me! LOL
Message 21 of 43
Valued Contributor

Re: Revolvers increasing your spending?


KennyS2006 wrote:
I do spend more for sure because of the cards I have. I know I can look at Amazon and see how exponential my order creation has been since I've had Prime and also in combo with the Amazon Chase card. If I had Sallie Mae--- that might be worse for me! LOL

+1 on that!

 

I've learned some discipline over time, but I'm all too aware that cc's make it easier to overspend. The combination of Amazon Prime + anybody's 5% Amazon cashback drives me crazy! I still only buy things I need, but the category of what I NEED does tend to expand.

 

Message 22 of 43
Established Contributor

Re: Revolvers increasing your spending?


longtimelurker wrote:

 .

 

 I have decided to edit my post so to not provide specifics on MSing. 

 

Please PM me if u have specific questions.

 

Discover IT $19,000 == 12/2013
AMEX 12/2013 ---BCP $12,000 === BC $23,000 ----- 04/2014
CHASE SLATE $5,700 === 12/2013
BoA 123 $6000 === 12/2013
Barclay Rewards $1500 == 12/2013
Message 23 of 43
Valued Contributor

Re: Revolvers increasing your spending?

Please don't turn this this thread into a MS discussion. myFICO has credit card sponsors.
EX:694 TU:744 EQ:777
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k
Message 24 of 43
Established Contributor

Re: Revolvers increasing your spending?

Thanks Dave for the reminder.  I have decided to remove any reference and specifics to the Msing.  If anyone has specific questions I can help via PM. 

 

Discover IT $19,000 == 12/2013
AMEX 12/2013 ---BCP $12,000 === BC $23,000 ----- 04/2014
CHASE SLATE $5,700 === 12/2013
BoA 123 $6000 === 12/2013
Barclay Rewards $1500 == 12/2013
Message 25 of 43
Member

Re: Revolvers increasing your spending?

Having had a credit card for the last 7 months, and letting it completely replace my debit card for day to day spending, I've noticed no change at all in my spending habits.  I noticed a big change when I went from cash to debit though.

With cash I was more prone to rounding my purchases, and once a 20 was broken the rest just seemed to disappear.

Debit/Credit is great because if you buy something for $3.88 it actually costs you $3.88 instead of rounding it up to 5, and having the 1.12 get lost in some magic place all my cash went to.

 

Just recently got first CC with revolving categories, so we'll see if it goes up at all... But I doubt it. Category will just determine which card I use, not what I buy (and probably not where I shop (except possibly which gas station if different cards have them coded differently)).

Message 26 of 43
Valued Contributor

Re: Revolvers increasing your spending?


Fico2Go wrote:

Thanks Dave for the reminder.  I have decided to remove any reference and specifics to the Msing.  If anyone has specific questions I can help via PM. 

 


what is msing? I tried to google it got no answers

AMEX PRG NPSL,Lowes $17000,Capital One venture card $12,000,Us Airways mastercard $9500,Fidelity Amex $9000, Discover it $8000, Capital One Venture One $7500, BOA 123 rewards $7500 CSP $6000, Capital One Quicksliver $5500, Amazon Store card$5000,Barclay
Card Ring $5000 Chase Marriott $5000,Chase Hyatt $5000, Sallie Mae Mastercard $4400, Paypal smart connect $4000,Chase Freedom $3200, Capital one Quicksliver visa $3000, Chase IHG Rewards $2300, Chase Southwest Premier $2000, Citi Double Cash $1500, AMEX BCE $1000

Last app July 22nd 2015- No apps for two years.
Message 27 of 43
Super Contributor

Re: Revolvers increasing your spending?


bigblue7722 wrote:

Fico2Go wrote:

Thanks Dave for the reminder.  I have decided to remove any reference and specifics to the Msing.  If anyone has specific questions I can help via PM. 

 


what is msing? I tried to google it got no answers


Manufactured Spending (buying near cash equivalents for the credit card rewards, and later cashing out to pay the credit card)

Message 28 of 43
Super Contributor

Re: Revolvers increasing your spending?

So a lot of people here apparently don't feel that their spending increases.   I also wonder if it depends any on the category.    So while gas for example is useful and something that many people would buy anyway, the expectation is that that cateogory will appear time and again, twice a year on many of the cards.   But when it is something more unusual, say theme parks, THIS MIGHT BE YOUR LAST CHANCE TO GET 5 UR per $ for theme parks!!!! (even if it isn't).  Are people a little more inclined to go (and possibly NOT regard it as extra spending)?

Message 29 of 43
Valued Contributor

Re: Revolvers increasing your spending?


longtimelurker wrote:

So a lot of people here apparently don't feel that their spending increases.   I also wonder if it depends any on the category.    So while gas for example is useful and something that many people would buy anyway, the expectation is that that cateogory will appear time and again, twice a year on many of the cards.   But when it is something more unusual, say theme parks, THIS MIGHT BE YOUR LAST CHANCE TO GET 5 UR per $ for theme parks!!!! (even if it isn't).  Are people a little more inclined to go (and possibly NOT regard it as extra spending)?


I would have to say that it does impact people's spending. The psychological aspects of plastic vs. cash have been well established, and people often talk themselves into "needing" things.. I, for one, have been going to Starbuck's much more often as opposed to a coffee shop run by the school and cheaper, for the 5%.

Current cards: MSUFCU Platinum, Amex PRG, Amex Surpass, Amex BCE, Citi Prestige, Citi Double Cash, Citi Premier, US Bank Cash +, Huntington Voice, AAviator, Sallie Mae, Discover IT, Chase Freedom TU:753 EQ Enhanced: 758
Message 30 of 43