Do you bother with cash-back credit cards?

Discussion in 'The Cocktail Lounge' started by SteakTartare, May 22, 2014.

  1. crimsonghost747

    crimsonghost747 Senior Investor

    Joined:
    Mar 2014
    Posts:
    1,722
    Likes Received:
    6
    I love having a debit card. I always have money on my account so I prefer debit rather than credit, that way the money is taken instantly and that's it. No big bills at the end of the month, no extra fees etc. Unfortunately where I live cash back offers aren't available on credit/debit cards as far as I'm aware.
     
  2. firelily99

    firelily99 Well-Known Member

    Joined:
    Mar 2014
    Posts:
    73
    Likes Received:
    0
    I generally don't bother with a credit card, hate the interest and the temptation by having it in my wallet. I go with a debit card and am a lot happier because of it. Like crimsonghost747 mentioned there are no bills and no extra fees each month.
     
  3. ForceofXero

    ForceofXero Member

    Joined:
    May 2014
    Posts:
    22
    Likes Received:
    0
    I wouldn't bother.. I love my debit card and won't stop using it any time soon.
     
  4. moneygal.ca

    moneygal.ca New Member

    Joined:
    Jun 2014
    Posts:
    2
    Likes Received:
    0
    I LOVE my cash back credit card. I use it for every single purchase every day, but I pay off any new charges daily. I just make sure that everything I use it for is budgeted, so no impulse buys. It takes me about one minute a day to manage and I haven't paid interest on it in over a year. I get about $1,200 back every year and the card only costs me $150 in fees so I come out way ahead.
     
  5. lwhite

    lwhite Guest

    Joined:
    Jun 2014
    Posts:
    13
    Likes Received:
    0
    I love cash-back credit cards. To me, it's like having a coupon since you're saving money by getting money back when you spend.
     
  6. JaydonTyler

    JaydonTyler Well-Known Member

    Joined:
    May 2014
    Posts:
    84
    Likes Received:
    0
    They dont pay much, its not something to even think about unless you like to count single dollars for the most part. But then again, we live in a world where if someone is given a free $10 bill they feel special. Thats all pocket change. I just go with the low interest card and be done with it all. None of it matters too much.
     
  7. Rosyrain

    Rosyrain Senior Investor

    Joined:
    Apr 2014
    Posts:
    673
    Likes Received:
    2
    I agree, I never really worry about the cashback rewards offered by credit cards. If I end up getting a reward, it is like a suprise for me. I look for low interest rates and no annual fees when I look for credit cards.
     
  8. turt

    turt Guest

    Joined:
    May 2014
    Posts:
    282
    Likes Received:
    1
    That's all that I use! Why not user them? It's your money, that's added into product prices to cover the fees they charge so you might as well get some of that returned. It adds up - an average person can have enough for a free vacation after a couple years. Who wouldn't want that?
     
  9. Thejamal

    Thejamal Guest

    Joined:
    Mar 2014
    Posts:
    166
    Likes Received:
    1
    Kind of surprised so many people are against credit cards. They aren't really an issue for me and it's saved me more than once when I needed to make a purchase, or buy food, etc. As long as you keep track of your expenses, and keep up with your payments, they can be a great convenience over cash to use. They're especially useful to have in those months when you just have some unexpected expenses that you couldn't plan for. I don't really like carrying a bunch of cash around anymore (product of being robbed!), and a credit card is a good alternative for me to have.
     
  10. richc3

    richc3 Senior Investor

    Joined:
    Jun 2014
    Posts:
    98
    Likes Received:
    0
    I'm huge on direct cash back rewards cards. I like to think it's a permanent 2-5% discount off everything I buy. In addition, most cards tend to have some sort of price protection and extended warranty to cover you if you have any sort of issues with a product you bought.

    That said, it worked the best for me in University where I could place those huge tuition costs on a card and pay them off immediately with the student loans deposited into my bank account. I basically got a "free" full course semester out of it.
     

Share This Page