topic Re: why do YOU use credit? in Credit Cards

why do YOU use credit?

SantaMar — Mon, 24 Dec 2012 16:34:12 GMT

just getting a vibe from the board as to how you fold use the credit you have....

do you use credit in case of an emergency?

do you use credit out of necessity?

do you use credit just to gain points?

what makes your pull out your credit card opposed to your debit card?

Re: why do YOU use credit?

sdoonan — Mon, 24 Dec 2012 16:35:50 GMT

I use mine for the rewards. It's hard sometimes since the coding can get wierd (the liquor stores in NH are "misc gov't services", not "bars/alcohol"), but I try to stay on top of it.

Re: why do YOU use credit?

FutureBillionaire — Mon, 24 Dec 2012 16:41:34 GMT

I use credit for the rewards and to increase my cash flow. I basically have funds to use throughout the month and no longer worry about pay day to do what I want/need to do. I pay off my balances in full and use rewards dollars to supplement my income. I wish I would have been doing this years ago.

Re: why do YOU use credit?

Repo-ed — Mon, 24 Dec 2012 16:44:34 GMT

To protect my bank account from identiy theft.

Re: why do YOU use credit?

HiLine — Mon, 24 Dec 2012 16:56:13 GMT

I don't know. I use credit cards out of habit without thinking about it. Why would you use a debit card instead of a credit card?

Re: why do YOU use credit?

PokemonMaster — Mon, 24 Dec 2012 17:18:21 GMT

Out of habit but because of the cashback. There's no point in using a debit card if you can earn money for buying stuff you would buy anyway.

Re: why do YOU use credit?

Anonymous — Mon, 24 Dec 2012 17:18:45 GMT

@Repo-ed wrote:
To protect my bank account from identiy theft.

Do you have a bank account from 1968??

In 2012, my bank accounts are fully protected from id theft and i am ZERO % responsible.

Time to fix your time machine, heh?

Re: why do YOU use credit?

toppers555 — Mon, 24 Dec 2012 17:23:43 GMT

@Anonymous wrote:
@Repo-ed wrote:
To protect my bank account from identiy theft.
Do you have a bank account from 1968??

In 2012, my bank accounts are fully protected from id theft and i am ZERO % responsible.

Time to fix your time machine, heh?

does not cover the time ,and effort to get those issues taken care of though.

I personally use credit cards, as credit is king in this day and age. Without credit, even if you have money , and make a decent money , you can run into issues.

Re: why do YOU use credit?

jsucool76 — Mon, 24 Dec 2012 17:24:22 GMT

Ccnewcc: they say that. Get your debit card stolen and see how long it takes for them to get you your moneu back.

I use credit to up my score for fun, and for the rewards.

Re: why do YOU use credit?

FutureBillionaire — Mon, 24 Dec 2012 17:24:29 GMT

@toppers555 wrote:
@Anonymous wrote:
@Repo-ed wrote:
To protect my bank account from identiy theft.
Do you have a bank account from 1968??

In 2012, my bank accounts are fully protected from id theft and i am ZERO % responsible.

Time to fix your time machine, heh?
does not cover the time ,and effort to get those issues taken care of though.

I personally use credit cards, as credit is king in this day and age. Without credit, even if you have money , and make a decent money , you can run into issues.

Re: why do YOU use credit?

Anonymous — Mon, 24 Dec 2012 17:26:05 GMT

@jsucool76 wrote:
Ccnewcc: they say that. Get your debit card stolen and see how long it takes for them to get you your moneu back.

I use credit to up my score for fun, and for the rewards.

I got my money back the same day and overnighted a new debit card.

Re: why do YOU use credit?

Anonymous — Mon, 24 Dec 2012 17:29:41 GMT

@Anonymous wrote:
@Repo-ed wrote:
To protect my bank account from identiy theft.
Do you have a bank account from 1968??

In 2012, my bank accounts are fully protected from id theft and i am ZERO % responsible.

Time to fix your time machine, heh?

Just because your bank account is "fully protected" doesn't mean you won't be without that money for a set period of time. I'd much rather a thief spend my creditor's money (where I'm not legally liable for the bill), then my cash reserves.

Re: why do YOU use credit?

kekrre — Mon, 24 Dec 2012 17:31:40 GMT

@Anonymous wrote:
@Repo-ed wrote:
To protect my bank account from identiy theft.
Do you have a bank account from 1968??

In 2012, my bank accounts are fully protected from id theft and i am ZERO % responsible.

Time to fix your time machine, heh?

Are you also protected if your rent or mortgage bounces because somebody skimmed your debit card and tried to buy a TV, thus triggering an account lockdown? Are you willing to put the time and effort in to remove late fees for payments outside the bank, potentially remove negative information from your credit report, etc.?

http://www.npr.org/2012/10/24/163572774/crooks-target-barnes-and-nobles-pin-pad-devices

This happened in stores I had visited. It's not worth it to expose your checking account (i.e. your money) to the world of skimming/fraud if you can help it, just because your bank promises you that they'll look out for you. I do 99.9% of all my banking electronically, I keep my accounts as secure as possible with strong PW, 2-factor authentication where offered, alerts, etc. I take advantage of my banks' 1-time/fixed limit temporary number generators when offered and I have completely stopped using my primary debit card. I have a second checking account with a bank where I make cash deposits, and that money is a) limited and b) isolated from my main checking account.

Some may think it's excessive, but I promise myself I won't get taken advantage of.

Anyway, end of soapbox. I use CC exclusively for shopping protection, fraud/theft protection, rewards for spending and for the fact that CC spending (when handled responsibly) builds credit, while debit card spending does nothing but finance other people's CC rewards (through inflated prices).

If you say that cash is king, remember that your cash is going to finance my 3% swipe fee

Re: why do YOU use credit?

Anonymous — Mon, 24 Dec 2012 17:48:21 GMT

Oh okay.

Some ppl really hold on to the fact bank accounts are evil and CCs are the savior. Oh okay.

Well then why do you even have a bank account? Why not a prepaid card like bluebird or Amex prepaid?? huh?

Re: why do YOU use credit?

HiLine — Mon, 24 Dec 2012 17:57:23 GMT

@Anonymous wrote:
Oh okay.

Some ppl really hold on to the fact bank accounts are evil and CCs are the savior. Oh okay.

Well then why do you even have a bank account? Why not a prepaid card like bluebird or Amex prepaid?? huh?

Please tell me you're not serious. How long have people been using bank accounts? And how long have those Amex products been in existence? Are you able to withdraw more than a few thousand per month from a Bluebird account? Are you able to withdraw cash from an ATM without a fee? Is Bluebird or Amex prepaid accepted everywhere? Is the money in these accounts insured by the FDIC?

Aren't you the same person that was trying to convince me that utilization ratio doesn't matter in my credit profile?

Re: why do YOU use credit?

Anonymous — Mon, 24 Dec 2012 17:56:29 GMT

@Anonymous wrote:
Oh okay.

Some ppl really hold on to the fact bank accounts are evil and CCs are the savior. Oh okay.

Well then why do you even have a bank account? Why not a prepaid card like bluebird or Amex prepaid?? huh?

Not sure people are saying banks are evil, just debit cards! I use my (internet) bank accounts to pay credit card bills, to pay certain ACH transactions such as mortgage, and for other vendors that don't take credit cards I use the bill pay feature which doesn't expose my bank info to them. (And earn 1.25% on the balance)

Re: why do YOU use credit?

Anonymous — Mon, 24 Dec 2012 18:03:54 GMT

@Hilling wrote:
@Anonymous wrote:
Oh okay.

Some Pl really hold on to the fact bank accounts are evil and CSS are the savior. Oh okay.

Well then why do you even have a bank account? Why not a prepaid card like bluebird or Ames prepaid?? Huh?

Please tell me you're not serious. How long have people been using bank accounts? And how long have those Ames products been in existence? Are you able to withdraw more than a few thousand per month from a Bluebird account? Are you able to withdraw cash from an ATM without a fee? Is Bluebird or Ames prepaid accepted everywhere? Is the money in these accounts insured by the FIDE?

Aren't you the same person that was trying to convince me that utilization ratio doesn't matter in my credit profile?

Oh FIDC. I see. Now we're back to protection. I knew the illogic would come full circle.

Re: why do YOU use credit?

HiLine — Mon, 24 Dec 2012 18:05:29 GMT

How did you become Generic and I become Hilling and FDIC become FIDE? You seriously need to take a break man.

Re: why do YOU use credit?

Anonymous — Mon, 24 Dec 2012 18:11:58 GMT

@HiLine wrote:
How did you become Generic and I become Hilling and FDIC become FIDE? You seriously need to take a break man.

Good one.

Okay i understand how forums work. Always looking for the last word. You may have it.

And, by all means, keep trying bring up stuff to instigate things like discoloring a statement "Aren't you the same person that was trying to convince me that utilization ratio doesn't matter in my credit profile?"

That Report button is not to far away.

Ready....set....go! [Hiline gets the last word]

Re: why do YOU use credit?

HiLine — Mon, 24 Dec 2012 18:18:54 GMT

Simply wanted to point out that your logic tends to work differently from most people's. I painted the last sentence white to avoid people from seeing it and let you ignore it if you so choose, but apparently you chose to re-color and emphasize it - not sure why, but of course that was your decision.

Merry Christmas!