2011 Off topic thread(basketball,movies,etc whatever)

[MMA_scientist]

When is free money not good? Because with the right card, that is what you get...free money.

Again, risk. You forget risk.

[Luke]

That reminds me. I got a Clay Guide Geico billboard near me, I drive by it all the time, keep forgetting to get a pic of it.

BOLZZZZZZZZZZZZZZZZZZZZZZZZZ!!!!!!! How did no one else catch on to this?


Clay Guida:

[sbjj]

No one is saying to go into massive debt. If you can not control yourself, stay away from credit cards.

[Luke]

No one is saying to go into massive debt. If you can not control yourself, stay away from credit cards.

Well that just isnt going to work, if everyone who can't pay their CC off every month closed their accounts the country would go into the worst depression in history.

[sbjj]

Again, risk. You forget risk.

But you will risk a grand to win 20 bucks in a parlay.

Simple, if you do not have the cash or the will power. Do not do it. I am speaking only in terms of a financially responsible person.

[Mr. IWS]

BOLZZZZZZZZZZZZZZZZZZZZZZZZZ!!!!!!! How did no one else catch on to this?


Clay Guida:

3

Dude, Im serious. Its Clay Guida, lol

[Luke]

3

Dude, Im serious. Its Clay Guida, lol

Lol now I don't know what's true and what isnt. I thought you were referring to Clay as the Geico caveman.

[sbjj]

Well that just isnt going to work, if everyone who can't pay their CC off every month closed their accounts the country would go into the worst depression in history.

No, the worst depression in history is when the entire credit of the private sector and public sector finally reaches a level where no one will buy are debt. And we are damn close.

The fact that most people are stupid when it comes to dredit cards is not going to stop me from benefiting from the pluses that come from them.

[Vandelay]

Agreed. Part of the reason I use a credit card is because I don't like carrying more than 20-50 dollars in cash with me. I also like seeing what I spent my money on at the end of the month.

I would rather pay off a car if I had the money to do so at the time of purchase as well. Ur just putting it off. I'm pretty sure I can get an interest free loan for college as well, but I can pay for it in full at the beginning of each semester so why get the loan from the bank or college or whatever? Unless I can build my credit by taking out an interest free loan from the bank. Or maybe it's a government loan, Im not sure.

[sbjj]

Trotterz, you leave risk completely out of your equation. But it is worth noting. If in that 36 month window you lose income or your cash cushion (job loss, medical issue), you will get royally fucked in the behind on that 0% interest deal. Where there is risk, there must be adequate reward.

As to billionaires using CC, I don't know if that is the case or not. BUt if it is, they would have much less risk that you or I would (and definitely less than poopoo would). So the scenario is entirely different. That is like saying you should buy a private jet regardless of income or means... billionaires do it, so it must be a wise financial decision.

So what happens when you drop your entire savings to buy that car and then lose your job? Come on dude. I would rather still have the cash in that instance.

[sbjj]

You guys really are crazy.

Why pay 50K cash up front, when you could pay it over 5 years interest free? You do understand that 50K would more than likely be at least 75K at the end of 5 years invested conservativly. So not only are you losing that 50K up front, but also losing somewhere between 10K to 50K depending on how you invest it.

[Mr. IWS]

Lol now I don't know what's true and what isnt. I thought you were referring to Clay as the Geico caveman.

bulz, next time I drive by, Ill get a pic of it.

[Luke]

In other news Dan Henderson says he's not in a hurry to get back in the cage and wants the winner of Jones/Rampage.

[MMA_scientist]

But you will risk a grand to win 20 bucks in a parlay.

Simple, if you do not have the cash or the will power. Do not do it. I am speaking only in terms of a financially responsible person.

I would if i thought that the parlay would hit more than 50/51 times. That is an entirely different issue anyway. There is no risk to that bet (if my line is correct)... anyway, the amount of risk is rewarded appropriately.

People that talk about free money with credit... it ain't free. You are basically rolling the dice that nothing is going to happen in that time frame that would cause you to miss a payment and get screwed. With cashback, I can understand that more, and I said that right up front in my first post. There is some reward. But the whole, "why pay today when you can pay tomorrow"... that is a flawed analysis because it does not account for the risk that you won't make a payment and then get hammered with a terrible interest rate (these 0% deals don't go form 0% to 6%, they go from 0 to like 28%). The risk of having to pay 30% more than you borrowed (and many times much more if you can't pay the debt and it goes to collection or something), it needs to be rewarded.

[Luke]

You guys really are crazy.

Why pay 50K cash up front, when you could pay it over 5 years interest free? You do understand that 50K would more than likely be at least 75K at the end of 5 years invested conservativly. So not only are you losing that 50K up front, but also losing somewhere between 10K to 50K depending on how you invest it.

What are you buying that costs 50k and is interest free for 5 years?