Credit Cards, financial things, etc.

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Originally Posted by Josh

I got a 0% interest car loan when I paid for my car upfront with cash.

nigga what?

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Well you're a fucking rock star.

You don't count.

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Originally Posted by icarusfall

TNL is not as smart and responsible as if pretends to be. You may have escaped the trap Burg, but do you think AMEX has all those rewards and incentives out of the goodness of their heart? No, it's to trap people in unfortunate circumstances into owing them money.

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Credit card companies make money two ways. First, people who don't pay their balance in full pay them interest. Second, retailers pay them a fee on every transaction. If you are smart about your credit cards, they are only making money on the second from you.

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Originally Posted by Thief Silver

Nice retreat.

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What retreat? I don't retreat from a single thing I've said.

SHUT UP YOU HIPPIE WHY DON'T YOU GO BURN A FLAG??

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Originally Posted by Josh

I got a 0% interest car loan when I paid for my car upfront with cash.

nigga what?

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So you effectively paid ~4-6%, slightly less than what you could have gotten had you a great credit score.

Personally I'd prefer to pay a slightly higher amount and put off paying for a while.

TIME VALUE OF MONEY YO

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Originally Posted by icarusfall

AMEX

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cards are generally charge cards which must be paid off in full every payment period and thus are not instruments of revolving debt like credit cards

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Originally Posted by burgundy

you watch millions of people get into inescapable debt

are you god

please say no

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No, I'm no god. I'm just more informed than the average joe. By life experience, the experience of others, and the fact that my brother is a financial analyst who gives me words of advice regarding credit ratings, debt advice, etc.

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Originally Posted by Yoshi

If you are smart about your credit cards, they are only making money on the second from you.

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I don't disagree with this. But MOST people are not smart/fortunate enough to be able to do that.

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Originally Posted by Thief Silver

When someone goes into spiraling debt and can't afford to pay the credit cards, they lose money too.

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Not true, they charge you tons of interest and late fees letting the amount you owe possibly triple, and then sell off your debt to a collection agency for the same amount/possibly more than you owed in the first place.

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Originally Posted by Josh

I got a 0% interest car loan when I paid for my car upfront with cash.

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This is another important point.

If you take out debt for a depreciating asset like a car, you are really stupid.