Whats the point of using credit cards these days?
 

It used to be that credit cards were the only way to do certain things: purchase airline tickets, conduct business online, secure hotel rooms.

With the advent of debit cards and hundreds of dollars worth of overdraft protection, there is no longer a barrier.

Sure, you may have to wait a few weeks before you can afford that swanky new couch, but you won't pay any interest on it and you won't have to make payments.

If you come across something that you really need and it will take longer than a month before you can afford it, you probably don't really need it.


Credit cards are a trap.

My credit card pays me back 2% of every euro I spend :pimp

(I always pay the full balance at the end of the month)

it's better to spend what you have in the bank...Then you don't have to worry about it...I use my debit card for everything...I can't remember the last time I used my credit card.

Exactly. As a general rule, I never borrow money to invest.

never had a credit card and never will get one , debit card for me , if i can't pay for the thing in cash then its not worth having , i hate debt

They are still good for building credit.

If you only use debit cards for ten years and paid cash for your car and have no loans then you will get nowhere when you want to get good terms on a mortage.

credit cards are great because they mean people can buy porn on the internet

If I dont have the cash to buy it, I don't need it.

It depends if you want a good interest rate on that $300,000 mortgage.

Of course they are - that was the concept from the start :thumbsup

Far nicer to pay direct by debit cards. OK.. credit cards are handy, but get them automatically paid every month by whatever banks.

don't they consider your positive cash flow for years on debit card ?

FUCK NO! That's private info and not included on a credit report and it's not credit!
Your positive cash flow could be paying everybody you still owe money to, like the fucking mob for all they know.

The only question financiers are interested in is "Did you borrow money and pay it all back?". Debit cards don't borrow money...end of story.

yeah credit cards are the devil! grr

I use them for the rewards points and pay them off.

credit cards are good for porn as it encourages consumption even if the person is too poor to afford it now, and who cares if they default, its the CC company that has to deal with that shit.

Credit cards are still the most useful tool an entrepreneur have.
Where else can you get an unsecured cash loan for a very large sum with zero collateral?

That's a good point. Many million dollar grossing businesses have been started on the backs of credit cards and never would have seen the light of day any other way...

no..... if you want a low rate, you must have a good credit score.... in order to have a good score, you must use and payoff credit consistantly and on-time

It's harder traveling with a debit card since the daily limits are so low. I have bumped mine up substantially but ... Rent a car, some companies will charge large deposits, so will hotels, then you go out to dinner ..... thousands on your first day.

Try to keep a major credit card for traveling and credit reference if you are young. But buy your everyday shit with a debit-card :2 cents: