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

[SPX]

It probably would, but I've never tried. I actually don't like having debit cards. It seems like more of a security risk to me because it's a direct line to all the money in the account, unlike a credit card, where I have an easier opportunity to contest fraudulent charges (which I have had to do twice).

Oh, hey, I'm not fucking invisible. I was wondering considering that no one has responded to anything I've said tonight.

As for debit cards, that sounds somewhat reasonable yet paranoid. Life is not without risk. Millions of people are now using debit cards regularly without issues. I have never had a problem using one.

With that said, I have been trying to carry more cash lately. Not for any security purpose, but because cash is king and I'm not really comfortable with the digitization of all of our money.

[poopoo333]

I like carrying cash because it looks BALLER

[Mr. IWS]

It really is.

http://mycourts.in.gov/arguments/

Propzorz

We doing an ingame chat?

[Mr. IWS]

On a sidenote, I saw a billboard on the highway promoting the jones vs rampage card. First one i've ever seen before

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.

[Mr. IWS]

Honestly strippers are terrible people to be around. The only kind of woman that goes to work at a strip club is one who is especially greedy/needy.

Its funny you mention that. I read an article yesterday about Lawyers, teachers, people like that, who lost their jobs, and now strip to take care of their families.

[Mr. IWS]

I just pulled an edman on quoting posts............

[sbjj]

IF you can control yourself, credit cards are the best thing in the world. But you MUST pay off the balance each month.

When I was 24 years old I went to buy my first NEW car. I had NEVER had a credit card, but owned a 120K condo and had NEVER been late on a payment. I could not get a good interest rate on my car because of lack of credit. But owned a condo...Fukin kidding me.

I now have a close to 800 credit score and have half a dozen credit cards...go figure.

Pick a card that either gives you flyer points(if you travel), or gives you a end of year rebate. My wife and I have an AMEX card where we get between 1 and 3% back at the end of the year depending on what is purchased.

[MMA_scientist]

I have a good credit score. I have never done anything specific to "build credit." I bought a house when I was 25 and I had a student loan. That's it. But, I have never had a cc. But then again, I wouldn't borrow money for a car either.

My whole point is that the system is stupid. Borrow money and pay it back 3 weeks later, when you have the money sitting in your account... why? To build a score so you can borrow more money later... I just think the whole thing is dumb. But if something happens and you forget or lose your income or savings cushion, you get rewarded with a 30% interest rate and teh CC company will fuck you. Not only that, I have seen many times where the payment is made, but the CC company just says it was not made. They are fucking computer screen zombies, if the computer says so, it must be so. Not worth the risk, if you have the money, pay. If you don't have it, don't buy it. There is risk with carrying debt, especially credit card debt.

Not saying it is for everyone, but I have never really felt the need for a CC. Like I said, I get why some people do it... but I don't see it as some thing that has to be done or something that is "good" to do.

[Mr. IWS]

Straight Cash homie, thats how I roll. I got Get-it, not credit.

[sbjj]

If you spend 100K a year. You could get back 3K @ the end of the year with the right card. Plus protection on your purchases. Seems like a no brainer to me. There is a reason why billionaires use credit cards.

[trotterz]

From a financial point of view, there is nothing better than a credit card if you have the money.
Let's say I have a purchase of 5000$ to do. Even if I have the money in my bank account, I will pay with my CC, pay for it 1 month later for the same 5000$. Why pay now when you can pay in 1 month for the same amount, no interest. By that time, you can place the 5000$ in a saving account that will get you maybe 8.00$ of interest by month.
It is low amount but on a year basis, little amounts can do a big difference.

Same thing can be said if you want to buy furnitures or a car at a place offering 0% interest for 36 months.
Even if you have the cash in your bank account and that you can pay for it. You would be stupid to do so when you can get an interest of 0% on the purchase for 36 months.
Place the amount of the purchase on a saving account and get interest money on it instead. and only pay the month charges

For the record, I do am a financial advisor

[sbjj]

I have a good credit score. I have never done anything specific to "build credit." I bought a house when I was 25 and I had a student loan. That's it. But, I have never had a cc. But then again, I wouldn't borrow money for a car either.

My whole point is that the system is stupid. Borrow money and pay it back 3 weeks later, when you have the money sitting in your account... why? To build a score so you can borrow more money later... I just think the whole thing is dumb. But if something happens and you forget or lose your income or savings cushion, you get rewarded with a 30% interest rate and teh CC company will fuck you. Not only that, I have seen many times where the payment is made, but the CC company just says it was not made. They are fucking computer screen zombies, if the computer says so, it must be so. Not worth the risk, if you have the money, pay. If you don't have it, don't buy it. There is risk with carrying debt, especially credit card debt.

Not saying it is for everyone, but I have never really felt the need for a CC. Like I said, I get why some people do it... but I don't see it as some thing that has to be done or something that is "good" to do.

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

[sbjj]

Trotterz is right. My wife and I bought a 50K SUV @ 0% interest for 5 years. I had the money, but why would I spend 50K when I can pay for it over 5 years with no interest.

[Luke]

From a financial point of view, there is nothing better than a credit card if you have the money.
Let's say I have a purchase of 5000$ to do. Even if I have the money in my bank account, I will pay with my CC, pay for it 1 month later for the same 5000$. Why pay now when you can pay in 1 month for the same amount, no interest. By that time, you can place the 5000$ in a saving account that will get you maybe 8.00$ of interest by month.
It is low amount but on a year basis, little amounts can do a big difference.

Same thing can be said if you want to buy furnitures or a car at a place offering 0% interest for 36 months.
Even if you have the cash in your bank account and that you can pay for it. You would be stupid to do so when you can get an interest of 0% on the purchase for 36 months.
Place the amount of the purchase on a saving account and get interest money on it instead. and only pay the month charges

For the record, I do am a financial advisor

I can not name a single friend of mine that has 5k in their bank account,but they all have credit cards with 5k+ limits. It sounds all nice when you type it out but 99% of people that have credit cards arent paying them off every month.

[MMA_scientist]

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.