Zero Interest Paid

[Anonymous]

I always pay my balances and have not paid interest... And you can do it also...

 Update! The post above was made to be inspirational not to degrade anyone here... BT's can also help folks out agreed... Was just so happy to share my journey with all of you and I hope everyone can understand.   

[Anonymous]

Same here!

Last time I paid interest, I was a broke College student. Never again..

[Remedios]

I really do not understand the point of this post. 

You paid your balances, great. Maybe some hardworking person did not want to choose between eating and buying diapers so they stretched it over a few months.  

[Anonymous]

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@RemediosI really do not understand the point of this post. 

You paid your balances, great. Maybe some hardworking person did not want to choose between eating and buying diapers so they stretched it over a few months.  

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I think the OP is simply making the recommendation to all to always PIF as to never pay any interest, since it's essentially throwing money away.  I agree with his overall thesis and think it's sound advice, as throwing money away (paying unnecessary interest) is never a smart financial move.

[pip3man]

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@Remedios wrote:

I really do not understand the point of this post. 

You paid your balances, great. Maybe some hardworking person did not want to choose between eating and buying diapers so they stretched it over a few months.  

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I absolutely agree with you 100 percent. OP, u pay your balances in full and never paid interest. Good for you, keep it up. But my question is, are all fingers on your hands equal? Just because u can afford to PIF doesn’t necessarily mean that everyone else can or should do the same. People fall in different income brackets and thus may or may not have the privilege to pay their bills in full. But I’m sure in a perfect world a lot of people will if they had the means. Don’t forget those with multiple responsibilities... while I am a big advocate of PIF, this post in itself makes no sense.

[Remedios]

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@Anonymous wrote:

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@RemediosI really do not understand the point of this post. 

You paid your balances, great. Maybe some hardworking person did not want to choose between eating and buying diapers so they stretched it over a few months.  

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I think the OP is simply making the recommendation to all to always PIF as to never pay any interest, since it's essentially throwing money away.  I agree with his overall thesis and think it's sound advice, as throwing money away (paying unnecessary interest) is never a smart financial move.

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Nobody thinks paying interest is a good idea. Some may find it to be an acceptable compromise at times. Half the threads in this forum are dedicated to balance transfers. If you took that option away, 90% of people on this forum would be paying interest. 

To me, this simply read as "neener neener look at me"

Making statement such as *if I can, so can you* is the equivalent of Usain Bolt asking Stephen Hawking to go for a run with him. 

I mean, if one can, so can the other one. Minus the dead part, of course. 

It's so tone deaf, it's not even funny. 

[gdale6]

Im going to remind all that all posting must be done in an FSR manner, there is no other way. Thanks for understanding.

[markhs777]

Paying interest is a waste of money? How many people buy a home or a new car without paying interest? Or get any type of loan?

Yes CC interest is usually higher but when cash is not avaiable and an emergency arises a credit card can be a life saver.

Plain and simple paying interest is not always a waste of money.

[Anonymous]

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@markhs777 wrote:
Paying interest is a waste of money? How many people buy a home or a new car without paying interest? Or get any type of loan?

Yes CC interest is usually higher but when cash is not avaiable and an emergency arises a credit card can be a life saver.

Plain and simple paying interest is not always a waste of money.

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Right.   I think the intent was just a reminder to PIF if you can, but coming across in an unfortunate way, and very much preaching to the converted here (I doubt if many people here think it's a good idea to pay interest unnecessarily!)   And also hardly rare, a lot of people here have also paid no cc interest in a while.

Apart from emergencies (paying for medical treatment that isn't covered, cash advance to pay bail for a loved one, as well as more obvious auto/home things that overwhelm rainy-day funds) it might sometimes make financial sense.   If someone gives you a really great offer on something that you cannot now PIF, even cc interest may be cheap in comparison.

[redpat]

OP, thanks for the PSA.

Tell us something we don't know.