Timeline for Is it better to buy a computer on my credit card, or on credit from the computer store?
Current License: CC BY-SA 3.0
20 events
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| Aug 25, 2016 at 20:52 | comment | added | keshlam | I tend to agree that while @javapowered gas some valid concerns, turning them into absolute "must not" statements invalidates them. Many people can handle a credit card responsibly, as a convenience and emergency solution rather than as a line of credit in active use. Some folks -- an unfortunately large number of folks -- have trouble doing so, but the best solution is to educate them in how to do better, if possible. Those wheels really can't have their bad habits cured should certainly avoid credit cards, but that's a relatively small number. | |
| Apr 9, 2012 at 0:56 | comment | added | Victor | @javapowered, also as I mentioned I do not use my Credit card to make withdrawals, the little withdrawals that I do make I use my savings account. Please stop repeating the same things over and over again because you don't read my replies properly. I am in a different country from you and the deals are different. I think a credit card is a great tool and it suits my purposes greatly. I am disciplined in my spending and know how to use a credit card properly, END OF STORY! | |
| Apr 9, 2012 at 0:52 | comment | added | Victor | @javapowered, as I said the bonuses are just that I don't rely on them. My qustion was how much interest do you earn on your debit card account? Also, regarding payment I could easily set up an automatic payment up and never look at my statement, but I prefer to check my credit card statements plus my savings account and loan account statements to make sure no one is ripping me off, just as you should for all of your account statements. Plus you also need to make sure you have enough funds in your account before you make a purchase or you will be charged interest for a negative balance. | |
| Apr 6, 2012 at 19:29 | comment | added | Oleg Vazhnev | @Victor well I think you can find debit card with the same bonuses you have now but you will be also able to withdraw money for free and you will not need to think if it's time to pay you debit card because debit card balance is always greather than 0. | |
| Apr 6, 2012 at 6:16 | comment | added | Victor | @javapowered, I get bonus points for my spending on credit card, but that is just that a bonus, how much interest do you earn on your funds in your debit card account? I get 6.36% in my savings account. I pay no annual fees, and I wouldn't use my credit card to withdrawl money, and I don't really need to withdrawl much anyway, being able to use the credit card in most places. As I said a credit card is simply a tool just like a drill, some people use them better than others. | |
| Apr 5, 2012 at 9:04 | comment | added | Oleg Vazhnev | @Victor do you receive % on the balance on your credit card? I suppose no. You can find debit card with which you will earn even more than with credit card. As I said for example my debit card offers 10% on the balance on the card (paid daily), and from 0.5% to 5% cache-back and also I do not pay commision when widthdraw money from any ATM in the world and debit card itself is free (all % in russian rubles, not in usd) | |
| Apr 5, 2012 at 4:30 | comment | added | Victor | @javapowered, it is called managing your money and accounts and it should be done whether you have a credit card or not. I spend 10 to 15 minutes each month checking my statement, putting an entry in my diary when the bill needs to be paid and then making the payment electronically when due. If you call this a job then you are a lazy bugger. So for a maximum of 3 hours every year I increase my savings by $1000+ each year, that is over $330 per hour. And as I mentioned earlier a few times I mainly pay bills and essential item with my credit card, things I would normally have to pay anyway. | |
| Apr 4, 2012 at 14:46 | comment | added | Oleg Vazhnev | @Victor you should try to earn 1000$ a year spending less "forces". It's hard to control your credit card. You should always think about balance and about when you should pay and you only get 1000$ for this. It'w very low-paid job. | |
| Apr 4, 2012 at 9:26 | comment | added | Victor | @jmort253, the point is that you only use a credit card on items you would normally be buying anyway, for example food and bills. Whilst you are using the banks money for your normal spending your own money is keeps earning you more interest in your high interest account for longer, until you have to pay your credit card off. You do this every month and you get to control your cashflow and earn a few extra hundred to a thousand dollars in your high interest account each year. | |
| Apr 3, 2012 at 12:24 | comment | added | Oleg Vazhnev | if you reach enough you don't need credit card right? just use your own 100 000$ from card and when balance is less then $50 000 add other $50 000. that's pretty simple. using credit card you should pay big % to withdraw cache from ATM. this is inconvenient. it's much easier to have one debit card. | |
| Apr 3, 2012 at 4:15 | comment | added | jmort253 | I'm not sure I agree they're a tool though. The reward just isn't worth the risk in my opinion. Why risk fees and interest for lowly pennies when you can invest or put money in an online high interest mutual fund with zero fees. | |
| Apr 3, 2012 at 4:11 | comment | added | Victor | @jmort253 - totally agree, that is why I strogly stated the opposite position to javapowered as he was of the point of veiw that everyone is as undisciplined as him/her. Credit cards are simply a tool, some people use them wisely whilst other use them recklessly. | |
| Apr 3, 2012 at 4:06 | comment | added | Victor | @javapowered - firstly I don't use my credit on stuff I don't need. I just spent about $19,000 in Feb/Mar on bills. I left my own money in the bank earning interest at 6.36% for 55 days until I will make the payment in full. I will be earning $182 from this transaction, plus earned over 19000 points on my credit card which I can exchange for almost $100 gift card or payment onto my credit card. The whole idea is that you don't spend reclessly just because you are using OPM, but use the credit card on purchases you would make anyway. | |
| Apr 3, 2012 at 3:53 | comment | added | jmort253 | @Victor - Point taken... I must say I'm torn on the "use credit cards for the rewards." idea. I think that takes a lot of discipline. I think your advice is great for people who have the discipline (or who think they can find the intestinal fortitude to be strong). I'm trying this myself and have earned 5% on gas purchases this year and paid no interest. As for the undisciplined, I think javapowered makes a great point for how they should approach this. Everyone is different. | |
| Apr 3, 2012 at 3:40 | comment | added | Victor | @jmort253 - please read the first part of javapowered's initial response "you should pay cash. always pay cash or debit card. never use credits unless absolutely required." That implies that one should not use a credit card if you have the cash, and you should only use a credit card if you really need something but don't have the cash. | |
| Apr 2, 2012 at 6:18 | comment | added | Oleg Vazhnev | just never use credit card. i have debit card using it I can withraw money at any place for free and I also have up to 5% cash-back and I also earn 10% (in russian rubles) on the money that I keep on this card. That's much better than credit card and much better than free period that offers credit cards. | |
| Apr 2, 2012 at 6:16 | comment | added | Oleg Vazhnev | @Victor if you have 1 000 000 $ then you don't need to try to "cheat" to use 1000$ for 30days %free period to save/earn how much? 10$? If you don't have 1 000 000 $ you really should try to earn 1 000 000 $ instead of spending money on the stuff you don't need to impress people you don't like :) | |
| Apr 2, 2012 at 2:31 | comment | added | jmort253 | @Victor - javapowered was implying that the op didn't have the money and that's why credit shouldn't be used. So your response doesn't make sense considering you're implying you disagree; your response assumes the op has money whereas javapowered's response assumes the op doesn't have money. | |
| Apr 2, 2012 at 1:07 | comment | added | Victor | On the contrary, if you have the money you should use a credit card with an interest free period where ever you can (however avoid impulse buys), and keep your own money where it will earn the most interest until it is time to pay the full ballance owing on the credit card. Also try to get a credit card with no or little annual fee. | |
| Mar 31, 2012 at 18:01 | history | answered | Oleg Vazhnev | CC BY-SA 3.0 |