I got a credit card limit increase offer today in the mail...

[JOE]

...so I accepted it.

From $3000 on one to $10,000 in a few minutes over the phone.

However....I hope I never have to rack up that kinda debt again.

I got inta trouble once on the credit cards.

Same time, I've found that having access to a decent amount of credit can sometimes be helpful/useful. ie - when the item is very pricey. And it avoids bank draft or wire fees, etc.

and it kinda saved me before. Because altho I had bad credit at one time, I had at least 1 credit card left for emergencies.

So...I have to discipline myself not to use too much credit too often.

I'll be more responsible this time...I promise.

[Biggie Smiles]

Wow Joe. That's simply amazing

A whole 7 big ones

Mannnnn I feel excited just knowing I post on the same site as you

[Thiel]

...so I accepted it.

From $3000 on one to $10,000 in a few minutes over the phone.

However....I hope I never have to rack up that kinda debt again.

I got inta trouble once on the credit cards.

Same time, I've found that having access to a decent amount of credit can sometimes be helpful/useful. ie - when the item is very pricey. And it avoids bank draft or wire fees, etc.

and it kinda saved me before. Because altho I had bad credit at one time, I had at least 1 credit card left for emergencies.

So...I have to discipline myself not to use too much credit too often.

I'll be more responsible this time...I promise.

Sweetie, they didn't want to do that. I had to co-sign because you are a credit risk.

[Lokmar]

josephine gonna buy a case of them poppers? 

[Oliver the Second]

So...I have to discipline myself not to use too much credit too often.

I'll be more responsible this time...I promise.

Good thing to do. People seem to have a problem with credit cards. One time I went into a bank to make a credit card payment (this was before smart phones) and the balance was a couple hundred bucks so I wrote a check for the full amount. I get to the window and hand it to the teller and say "I'd like to make this payment please".

She looks at it and her eyes get all wide... "Oh my god! You're paying off your credit card! Wow! Hey Jennie come look at this!"

She calls all the tellers over and they're like "Whoa! I wish mine was paid off so I could max it out again! This is amazing! I've never seen one paid off before! Oh you're so lucky!" with looks of amazement on their faces.

You would have thought I won the lottery or something.

[TheProwler]

Good thing to do. People seem to have a problem with credit cards. One time I went into a bank to make a credit card payment (this was before smart phones) and the balance was a couple hundred bucks so I wrote a check for the full amount. I get to the window and hand it to the teller and say "I'd like to make this payment please".

She looks at it and her eyes get all wide... "Oh my god! You're paying off your credit card! Wow! Hey Jennie come look at this!"

She calls all the tellers over and they're like "Whoa! I wish mine was paid off so I could max it out again! This is amazing! I've never seen one paid off before! Oh you're so lucky!" with looks of amazement on their faces.

You would have thought I won the lottery or something.

That is such a bad bullshit story you would think that Senile Joe wrote it.

[Oerdin]

I hardly use credit these days. 

[JOE]

I hardly use credit these days. 

I still use credit, but not nearly as much as I used to.

I got into trouble before by racking up too much cc debt, so I have to be careful this time. Just use it when needed, then pay it off.

Tho I had poor credit before, I still never went bankrupt and managed to pay down the previous debts.

I hear all this advice , especially from business people. that it's OK to fail, go broke whatever, a person can start over again. However, I think that's a pile of malarky. It's just a persistent myth to feed 'the machine' and rope some other sucker in. From those I've met who declared bankruptcy for most, life is never the same. They need workarounds to get through life. Have to resort to pay day loans or ones with very high interest. It's like a handicap that haunts them for the rest of their lives. Almost like losing an arm or leg.

About the only people I think who can afford to go broke are types like Donald Trump. Have friends in high places who can bail them out or bankroll them. Or they have so much debt that it fulfills the saying, "If you owe the bank $10,000, you're in trouble. But if the you owe the bank $10,000,000, they're in trouble."

[Biggie Smiles]

I use credit but never more than 30% of the total liquid assets

this way if shit does hit the fan unsecured cards get fucked in favor of continuing the more important essentials

[Oerdin]

I have never had more than $5000 in credit card debt in my life and 90% of the time I paid it off ever two weeks to try to avoid the fees.  The main type of long term debt I have held is mortgage debt but even that I try to minimize.

[DKG]

I use my credit cards too. I never pay interest because I pay before the due date. And I get cash back at the end of the year.

[TheProwler]

I use my credit cards too. I never pay interest because I pay before the due date. And I get cash back at the end of the year.

That is the way to do it.

I use credit cards for every purchase that I am able, unless I get a discount for paying cash.

The rewards build up.

Every card I use is a No Fee card.

Checking my wallet I have

a CIBC Visa Dividend Cash Back card...gives me straight cash back on my card...

a World Triangle card that gives "Canadian Tire Money" on the card...when I make a purchase at Canadian Tire with it, I use all the money that has been earned on the card...

a CIBC World card that is also my Costco membership card that gives me cash back on the card once per year...I am also an "Executive" member at Costco so I get a 2% cash back rebate cheque for Costco purchases to be used at Costco once per year and that cash back is always more than the cost of the membership...

an American Express card that gives me cash back right on the card once a year...

a Rogers World Elite Mastercard that gives me cash back once a year and free travel insurance when I use it to pay for a trip which can be worth hundreds of dollars for every trip.

And I pay every card off one day before the due date (just to make sure it gets processed in time) because I collect interest on the bank balance daily, so delaying the payment earns me a modest amount of interest.

My wife has a few different cards that gives her higher cash back rates at some stores she shops at.


My question to people is this:  If you have the opportunity to use a No Fee credit card that offers Cash Back or some other reward, why not use it?

[Brent]

That is the way to do it.

I use credit cards for every purchase that I am able, unless I get a discount for paying cash.

The rewards build up.

Every card I use is a No Fee card.

Checking my wallet I have

a CIBC Visa Dividend Cash Back card...gives me straight cash back on my card...

a World Triangle card that gives "Canadian Tire Money" on the card...when I make a purchase at Canadian Tire with it, I use all the money that has been earned on the card...

a CIBC World card that is also my Costco membership card that gives me cash back on the card once per year...I am also an "Executive" member at Costco so I get a 2% cash back rebate cheque for Costco purchases to be used at Costco once per year and that cash back is always more than the cost of the membership...

an American Express card that gives me cash back right on the card once a year...

a Rogers World Elite Mastercard that gives me cash back once a year and free travel insurance when I use it to pay for a trip which can be worth hundreds of dollars for every trip.

And I pay every card off one day before the due date (just to make sure it gets processed in time) because I collect interest on the bank balance daily, so delaying the payment earns me a modest amount of interest.

My wife has a few different cards that gives her higher cash back rates at some stores she shops at.


My question to people is this:  If you have the opportunity to use a No Fee credit card that offers Cash Back or some other reward, why not use it?

Only broke bums like Joe would not use it, because he cannot qualify for a credit card.

[Oerdin]

That is the way to do it.

I use credit cards for every purchase that I am able, unless I get a discount for paying cash.

The rewards build up.

Every card I use is a No Fee card.

Checking my wallet I have

a CIBC Visa Dividend Cash Back card...gives me straight cash back on my card...

a World Triangle card that gives "Canadian Tire Money" on the card...when I make a purchase at Canadian Tire with it, I use all the money that has been earned on the card...

a CIBC World card that is also my Costco membership card that gives me cash back on the card once per year...I am also an "Executive" member at Costco so I get a 2% cash back rebate cheque for Costco purchases to be used at Costco once per year and that cash back is always more than the cost of the membership...

an American Express card that gives me cash back right on the card once a year...

a Rogers World Elite Mastercard that gives me cash back once a year and free travel insurance when I use it to pay for a trip which can be worth hundreds of dollars for every trip.

And I pay every card off one day before the due date (just to make sure it gets processed in time) because I collect interest on the bank balance daily, so delaying the payment earns me a modest amount of interest.

My wife has a few different cards that gives her higher cash back rates at some stores she shops at.


My question to people is this:  If you have the opportunity to use a No Fee credit card that offers Cash Back or some other reward, why not use it?

My main concern is that the credit card companies change their terms all the time.  If to many people are smart customers avoiding fees and charges then they just change the rules in order to fuck over more.  The banks have whole departments of MBAs writing rules changes to try to trip customers up and I am not big headed enough to think I will always put smart them.

[Thiel]

I have never had more than $5000 in credit card debt in my life and 90% of the time I paid it off ever two weeks to try to avoid the fees.  The main type of long term debt I have held is mortgage debt but even that I try to minimize.

Jo Jo finds this post that is the norm for most adults informative. How did he make it to his twilight years.

He's cute though.