Do the math! Gas Credit Card Companies are Seemingly Stupid, and think you are, too.

[pontiacgp]

You ever buy car parts online with cash?

yes, for online stuff I use a prepaid credit card.....that I deposit cash to load up when I plan on buying something

 

[Pc3]

I have 2 cards a debit and charge card.I use charge card for most LARGE purchases I get 3% cash back. I have direct deposit for my debit card.
Get the, Cash back and pay off credit card every month with the FREE. Checking and online banking debit card.
The only requirement is I keep min 1000. In account..
I get crap cc mail everyday don't even open it.
My daughter has student loans and is paying 7.5% I worked a deal out with her I would pay off her loan and she pays me 5.% monthly instead of paying bank.
Easy fellows. I fully paid for 2.years of all her college.
So now she paying me 5% on the balance .I figure what the CLUCK.
She will only end up getting it all back when it's my time to go...
I get back 5% eventually she will get it all back someday.
And I in return am getting 4.85% more interest than the bank pays me. And she in return is paying 2.5% less interest, that she positively would never see if she kept paying her bank loan..

 

[L92 OLDS]

As already noted, the price structure for most everything we buy today is based on credit card purchases and that cost is already baked in to everything we buy. If you are paying cash, you are throwing money away.

Dave Ramsey says having a credit card encourages spending and you should pay cash for everything. I disagree. I have enough self-control and don’t make impulse purchases. It’s simple, pay the balance off every month and earn the rewards. Besides, you can’t beat the convenience and safety of a credit card. I hate carrying cash

 

[ssn696]

CC companies are catching to jerks like us who don’t carry a balance and walked away from the FF miles programs this year. ‘Super cash rewards’ is the latest big deal. Read the @&$?! fine print: 1.5%, 2%, whatever, only applies to the first $1500 of purchases for the quarter. That’s a whopping $22.50 to $30 “cash back”. I don’t feel particularly “rewarded”.

 

[L92 OLDS]

CC companies are catching to jerks like us who don’t carry a balance and walked away from the FF miles programs this year. ‘Super cash rewards’ is the latest big deal. Read the @&$?! fine print: 1.5%, 2%, whatever, only applies to the first $1500 of purchases for the quarter. That’s a whopping $22.50 to $30 “cash back”. I don’t feel particularly “rewarded”.

Not all cards are the same for sure. I use a Fidelity card which pays 2% on everything I buy.

 

[rfpowerdude]

CC companies are catching to jerks like us who don’t carry a balance and walked away from the FF miles programs this year. ‘Super cash rewards’ is the latest big deal. Read the @&$?! fine print: 1.5%, 2%, whatever, only applies to the first $1500 of purchases for the quarter. That’s a whopping $22.50 to $30 “cash back”. I don’t feel particularly “rewarded”.

Yeah, I am one of those people. Never paid any interest. And as it was said before, the cost of things take into account that most people use cards so using cash is of no help UNLESS, a particular vendor will give the 3-5% discount for a cash deal...

 

[Clone TIE Pilot]

What no one has mentioned is the hidden cost of credit cards. We own a couple restaurants. 60% of my revenue is credit cards. I pay about 4.5% of the total receipts for the privelage of accepting a card. That includes if you tip your server. Of course I can't directly pass that cost on to you as a line item on a receipt. You'd take your business elsewhere. So I eat the processing fees on your purchase and my servers tips.

And in case you think this is just a tale of woe from a rich guy. In a perfect year my profit is about 3%. Of course there's no such thing as a perfect year so we usually break even. That's why I keep having to work at my day job. To sum up, the credit card companies make more money providing a digital record of money transfer than I do actually working and running a business. Rewards cards are some of the highest fee cards of the bunch. They can be as high as 5% to the merchant.

Do yourself and your local business owners a favor. Use cash. Then we can charge you less and maybe make a small profit too.

Many businesses around my area no longer take cash at all, its card or app only.

 

[Gonzo1970]

Credit Card?

I cut those up years ago. Won't touch another one, sorry.. If I am forced to, I go pick up a generic one, charge it up with what I need, and use it once..

Fuc*ing scam.. Legal loan sharking..

Kinda like mortgages taking 30 years and paying $500,000 in interest on a $80,000 house... Its all bullsh!t.

-Gonz

 

[69hurstolds]

But nobody is twisting your arm to use a credit card. So if anyone owes a balance, that's on you.

Point being, just use some common sense and consider every time you pull out the credit card, it's a LOAN. Meaning you'll have to pay it back. And then you have to pay interest on any balance which then covers part of the deadbeats who don't pay their bills. The credit card companies have to make money to stay in business. If a company taking credit cards whines because the CC company takes out a percentage from their sales, don't cry to me, raise your price accordingly.

It's like the cash deal at the gas pumps (that ain't a BP/Amoco brand. Those A-holes). Usually can save 10 cents/gallon paying cash. If so, depending on your reward level, pay cash. Reason why, depending on where you live, you're saving 5% thereabouts or more right now. At the moment, around here (thanks to the new jacking of the gas taxes) regular gas is 1.899 credit, 1.799 for cash. That's a 5.55% savings over credit. So if your CC company isn't paying at least that in rewards, pay cash.

It's always a math thing. If you're flush with cash, you won't care. I'm not flush with cash, so I care. Plus, I'm a cheap-azz bastage, anyway. I got it!!! I can use the savings toward another McRib. Hahaha! 🙂

 

[fleming442]

Plus, I'm a cheap-azz bastage, anyway.

Really? I couldn't tell.....



😛