Why do Americans buy everything with credit? Houses are leased, cars are leased, what happened to living within your means?
suppose it were within my means to service a debt, sherlock. just fucking suppose it for one minute
This thread is gonna suck
>>79439137
>paying 150% of the list price of something
>what is compound interest
>>79439059
They're all classcucks stuck in a loop of self-perpetuating consumerism.
The US economy would literally collapse if Americans lived within their means.
>>79439059
Why work now when you can just work later? Come on Anon, you want that television and brand new car right now, don't you?
Sure, you'll stress later, lose your hair, ruin your marriage, worry about whether or not you'll be able to pay some of that debt this month and still buy some more goods, become addicted to prescription pills you received to combat said stress blah blah blah
But you want that car NOW, don't you?
>>79439059
>Why do Americans buy everything with credit?
I pay my bills on time at the end of the month and I get cash back.
>>79439276
But if they can afford to pay 150% for the convenience of having it now, its not beyond their means.
It may be irresponsible in your eyes, but it is not living beyond ones means.
You are an idiot.
When you move out of your parents council house and start paying for your own stuff, you can come and lecture us all, puppy.
>>79439059
>buy items with credit card
>pay off credit card every month so no interest
>get 1-3% back on every purchase
It's like you hate free money
>>79439059
We don't lease houses.
>>79439543
at least someone else in this thread gets it.
>>79439059
>what is pay "before due date".
>>79439059
>How are jews going to profit if amerigoys arent paying interest on debt?
Its like you expect them to work for a living.
>>79439059
I avoid paying credit whenever possible.
When I can't, I try to pay it off as soon as possible.
Vapid consumerism and debt slavery
>>79439543
>life happens and something happens unexpected where you run short of money
>fall into a feedback spiral of debt
It's shiny anon, don't you want it?
Sorry burgers, but this is mainly your thing.
We don't like to live in debt.
>>79439543
This seriously. Based Citi Double Cash card has my back.
>>79439059
I've made probably around $5000 between cashback and air travel rewards using my credit cards in the past 5 years. I've paid 0 interest (paid every statement in full as they come up) and 0 fees. Are Britcucks really this dumb that they don't know about credit card rewards?
I pay 4% on my mortgage because it's the only way to own a home as a normal office drone. Sorry, I can't save up 300k to buy a house outright. Yet I need to live somewhere. Might as well get a mortgage and build equity.
Car loans/leases are dumb, I agree with you there. Buy a 4-5 year old car in cash.
>having credit card at all
debit or cash only
![f8e[2].jpg](https://i.imgur.com/bnSqOR8.jpg "f8e[2].jpg")
>>79439059
>not paying off your full balance every month
>not paying interest on anything
>not collecting the sweet Jewmoney cash-back rewards at the expense of idiot college liberals that carry debt
credit is the goodest of goy schemes that weeds out the irresponsible retards
>>79439910
Exactly
>>79439059
>vendor fee is passed to customers in the form of markup
>everybody has to pay the same price regardless of payment method
>using your credit card gives you cash-back rewards of 1%-7%
There's really no reason why you shouldn't buy everything with your credit card.
>>79439487
Same.
Started with an Amazon Visa rewards for 1% back on Amazon.com. Then got an AMEX that gave about .6% cash back when redeeming points for cash. Currently using Chase Freedom for 1% cash back. I would apply for this Cap One I saw in TV that gives 1.5% cash back, but I don't want to keep racking up hard inquiries. Plus the AMEX and Freedom still have about a year of 0% APR.
>muh shekels
>>79439845
House loans are normal, but living life on credit cards can get sketchy really fast
>>79439777
checked
>>79439797
>>79439814
>>79439910
Credit is a tool. You can use it properly or chop off your finger.
>>79439059
Because why wait for something when you can have it RIGHT NOW? Go on goy, you can just pay for it later! You won't even need to go out of your way to make the payments, you can just set up a direct debit! Your bank allows you an overdraft? Why even wait until payday to buy what you would otherwise have to wait 5 years to buy? You can do it today!
>>79439910
you have to have good credit to buy a lot of things in the usa or at least get reasonable interest rates. the good news is that you can easily build up your credit score on small purchases over time
>>79439514
There's an entire industry in the USA devoted to getting consumers to part with their cash and sign up to usurious credit agreements for the "convenience" of getting a luxury immediately.
Consider this:
Scenario 1:
>Save up for $luxury_item
>Do without $luxury_item for the length of time it takes to save the purchase price
>Buy $luxury_item with discount for immediate cash purchase
>Enjoy $luxury_item with modest amounts of depreciation
>Lose job
>still have assets including $luxury_item
Scenario 2:
>Buy $luxury_item immediately on """lease"""
>Pay portion of montly salary on $luxury_item
>get fired
>Can't pay
>Company repossesses $luxury_item
>Missing a few payments leaves you out of pocket and without any partial claim to the item you leased
Scenario 3:
>Buy $luxury_item immediately on """lease"""
>Pay portion of montly salary on $luxury_item
>Keep paying portion of monthly salary on $luxury_item
>...
>Pay 150% of the list price for the privilege of using it """today"""
Which of these options sucks the least?
>>79439910
>buy a thing with debit
>thing breaks
>manufacturer says get bent
>get bent
>buy thing with credit
>thing breaks
>manufacturer says get bent
>reverse transaction with credit card company
really makes you think.
>>79440201
You're a real sperg, you know that?
Come back when you have your first paycheck, kiddo.
>>79440201
>A PHP dev
no fucking wonder you are poor.
>>79440201
And i tough bongs do it about same as burgers.
>>79439059
15% of my income goes to rent. Shits expensive in CA, but my living standard is what below that of other people. Not everyone save I guess.
declining wages and standards of living can only be propped up by credit and debt
either debt or public subsidies (public debt) are what allow most Americans their '''''quality'''''' of life
>>79439059
>cars are leased
This is actually a decent way to do it if you make a good living. You basically rent a car for 3 years then get a newer model
>>79440514
How much do you think your parents spent on your circumcision when you were born?
You get to live a better life if you get everything nice first and then pay for it later. If you choose to do this it will cost you a fee which is the interest you pay on your debt. There is literally NOTHING wrong with this as long as you will be able to afford it in the long run and be able to pay everything off including the interest.
The problem is that too many lenders over the last two decades try to push things people can't afford on them to put them in debt, and too many borrowers are fucking retarded and take on debt they can't afford to pay.
If you are good at paying off your debt, you can even end up ahead sometimes. For example, I pay no fee for using my credit card, but for things I would normally spend money on I get points to use towards movie tickets and snacks. The bank can give me this because the make even more money than the free movie tickets they give me, off interest fees from retards who don't pay their card off on time.
tl;dr: Don't be a fucking moron and the system will work out nicely for you. I'm willing to pay a few thousand dollars in interest over my life so that I can live in a nice house when I'm 30, instead of saving until I'm 50 to buy a house with cash, which is even harder to save for, because I still have to pay money to rent somewhere.
>>79440207
You telling me thing break in america in 3 days or they let you reverse transaction at any given time ?
Some like bull to me.
In any case, there is warranty
>>79439059
Because bitches get wet when you pull out the BBC
>>79440326
Come now, Australia - this is weak b8
>Cashback credit card
>Buy my goddam groceries on it
>Internet shop on it
>paid off in full each month
>Get paid £4 per month to use convenient method of purchase
>credit score 680/800
>Have £6000 credit card limit
>no other debts, ever
Credit is a mug's game. Don't be played like a mug.
>>79440762
I can't type..
>>79440182
so you can't get mortage even if you got steady income for x years and no debts unless you have credit rating?
>>79440207
I forgot that everybody is jewing everyone in USA
here you have 2+ years warranty when manufacturer can't just tell you to fuck off unless the item is clearly damaged due to your retardation (i.e. broken phone display)
>>79439059
because STUFF MANNNN
The same reason we throw tea in the harbor
>>79440713
Of course a leaf thinks that there's nothing wrong with being a slave to debt and instant gratification.
>>79439276
Um, do you know what compound interest means?
Keynesian economics and the federal reserve.
>>79440626
no, a lease is stupid. why get a lease for something that you will pay more for over time then build equity and get the maintance and part replacements built in. A new car is still a stupid idea but leasing is worse.
haha lol its free money you dipshits get all the credit you can and buy all the shit you can live the dream and then file bankruptcy haha you dumb shills learn to live
>>79439059
Unlike your nanny state society, our society is built on trust and assumes that most Americans will be responsible enough to pay back what we borrow, while punishing those who abuse that trust. It works the same way with firearms, those who are responsible with their lives and choices can possess them, and those who are irresponsible or abusive have that right taken away.
Your society, however, has ceded almost all of your rights and responsibilities to the government, who believes you are too immature or childish to be trusted to make your own choices, and now makes all of your decisions for you. The libs in our country want us to follow your path, unfortunately.
>>79440874
>so you can't get mortage even if you got steady income for x years and no debts unless you have credit rating?
it's very difficult, but doable
>>79439059
>leased homes
>leased cars
>everyone
wew
>>79441324
>Default behaviour of burgers is to buy every high-value item on lease or credit
>Unexpected life event happens
>Get turbojew'd into debt spiral
Credit is a bet that nothing bad will happen to your ability to pay off a loan in the mid to long-term future. Experience suggests otherwise.
Also, how exactly does a nanny state obviate private creditor contracts?
>>79441160
Pretty much.
The idea is that spending drives the economy, so more spending = better.
Without credit, people can only increase spending by increasing productivity.
Credit allows people to spend more when they have it, driving the economy, but also requires them to spend less down the line when they have debt. This is why we have economic cycles.
Overall, credit is more useful to the economic machine than cash. There's something like 1 trillion dollars of money in circulation compared to like 50 trillion "dollars" of credit.
>>79439059
>hating on leased cars
If you're a rich american, it's cheaper to lease a new car every two years than it is to buy a new car every two years.
>>79439543
This is why the rest of the world is poor. They don't know how to use the financial tools available to them have the cuck mentality of saving and working.
>>79441324
Lol you can use credit here the same as the US just not everyone uses it because it's a fake sense of ownership, people use them as a backup emergency and never use them most of the time
>>79439059
>get credit card
>don't ever use any other method of payment
>put my college tuition on it
>it gets paid in full every month
>mfw got paid literally hundreds of dollars over a few years in rewards/bonuses
>mfw never paid a cent of interest
>mfw great credit rating because of this
>mfw the white man out-jews the jew into paying for his financial convenience and security
>>79441816
>muh anecdotes
>It also means the average consumer credit borrowing stood at £3,629 per UK adult. This is up from a revised £3,613 in March. Total credit card debt in April 2016 was £64.4bn.
>>79439059
What type of idiot would pay 1.5mil for a house or condo around here? The loan helps you live within your means, you know, pay it down in 30yrs or less, with 500k down only.
Let's say you did save up 1.5mil to pay up front for a house, you would have to save up for years to do it, meanwhile you would be renting an apartment for 4k a month and throwing the rent money out the window cause you're a total retard.
Shoo! Shoo! Slimy Limey!
>>79441999
Of course a large number use it dickhead, what's Australia's credit rating?
>>79442029
Bank loans are normal when buying a house, we're talking about credit
>>79442323
>Houses are leased, cars are leased, what happened to living within your means?
Fuck you're retarded, try harder next time.
>>79442029
Mortgages make sense because in the long run, property price increases beat interest hands-down. Over 20 years, the value of a property will increase to such a degree that the loan-to-value of the original loan drops to like 20%.
Plus inflation tends to reduce the burden of debt, so over time this loan ends up being an asset.
>Buy house at 60% LTV
>20 year repayment
>Compound interest at 2% over 20 years = ~50%
>House price doubles in 20 years
>Paid 130% for something now worth 200% of valuation at time of purchase
>>79439797
You don't understand what "paying it off every month" means. What are you, 15?
Also, cars and houses can only be afforded via credit. No one can save 20,000 in reasonable amounts of time, or keep liquid assets large enough to replace a car.
You get a loan at 1.5-3% for those items, which is a lower rate than what you make in return on your investments.
>>79439059
>Why do Americans buy everything with credit? Houses are leased, cars are leased, what happened to living within your means?
The Jews don't like that.
The plan is to get they goys so indebted that they won't be able to pay it and they'd only be paying for interests until they die. And they even "gambled" with those debts, which eventually led to the Great Recession.
If you've seen Murkans of the Clinton era and the Murkans of today, more goys are living within their means. Of course, there are some that will never learn and the Juden are still pushing people to get into some debt--you still have to have a credit record (and a good one) to allow you to buy cars and houses. It's probably possible to buy them cash money, or immediately paying them off, but the system the Jews came up with still want goys to pay a bit of interest. Because that's how the Jews are.
Still, the game has changed for the Jews that they're finding other ways to jew the goys, because the gov't really put a stop to banks easily lending people money at high interest rates.
>>79441641
The nanny state does not, you are correct. However, the culture of not extending a level of trust to your fellow countrymen still permeates your society. There are literally hundreds of thousands of businesses in our country that will extend a line of credit to anyone with a reasonably good credit score, and most will even do so for someone with a terrible credit score. Hell, the home improvement store down the street gave me a $10,000 line of credit for my moderately decent credit score. Will I use it all? No. But they trust that I can pay that $10,000+ back if I decide to remodel the kitchen or some shit. I doubt you can say the same aire of trust exists for you and your fellow countrymen.
How much do you have to put down on a house before they will give you a mortgage? How much do you need in a bank accout before they give you a personal loan? What percentage of a business loan do you have to show up front? Face it. Your country doesn't trust that you are responsible in private contracts because the government doesn't allow you to be responsible as citizens.
>>79442484
Leasing a house and getting a mortgage to buy a house are totally different things mate
>>79439059
>Britbong fails to understand the value of credit, leverage, personal finance, or anything involving money
I guess that explains why you didn't see a problem voting leave, huh
>>79442555
Using credit can make sense too, just starting out in the work force, can't afford to pay for everything up front, let credit ride for 3yrs, start making more money in 3yrs after getting work experience, pay off credit cards.
I did that, knowing with job experience I'd be able to make a lot more money than I did starting out. Took a few months to easily pay off what I racked up on credit cards in my early 20s by the time I was 24yrs old and never once stressed myself without having to go without anything I wanted.
>>79442838
Nice try, try harder next time.
>>79442838
People rent because they don't have enough money to secure a loan, or aren't goin love somewhere for long, or simply don't want the responsibility of ownership.
>>79442709
Put £10,000 down for a house deposit, then pay a mortgage every month, for ever how long it takes to pay of the house, if you can't get together £10,000 for a deposit then you're not in a position to buy a house, our population trusts our government to not fuck us with credit spirals
>>79439845
>Car loans/leases are dumb, I agree with you there. Buy a 4-5 year old car in cash.
Car loans are smart when they offer you 0% loans with an option to buy outright when the first interest payment is due on the loan.
>>79443139
What shit kicking village house would require only 10k down? Add a zero or two.
>>79443305
>What shit kicking village house would require only 10k down? Add a zero or two.
Depends on the laws that govern your down payments.
If it was 5% then a house that costs 200K
>>79443305
In the UK it's not uncommon for mortgage lenders to require only 10% deposits. We even have a scheme for new-build houses that means the government guarantees the first 20% of a property's value after a 5% deposit.
>>79439059
I could explain it all but look up history leading to and after the stock market crash and the housing boom in the 50s. The short of it is. Being in debt became less of a taboo and consumerism took of because of the credit system, went too crazy caused a farming crash that rolled into a stock crash and so the system of credit was refined in the banks to make it more sustainable.
>>79443305
By law the deposit is 5% of the price of the house
>>79442615
It seems the new scam now is getting into debt for education. The goal now is to get young adults and enslave them in debt, as they'd get more out of them as they start paying early and all the way into their midlife or elder years. And the gov't, whether left or right controlled, have no intention of providing "free rides" to everyone. Only a few.
You see leftists pushing for higher education, while not having the means (or sincerely providing the means) to either reduce the cost of it or provide it for free. You'd eventually incur some kind of debt, which are lent by (((private banks))). It's fucking genius. And once that bubble pops, they move on to the next thing to continue jewing the goys. Until it becomes cyclical where after some years, they'd go back to scamming the goys with easy (lent) money with high interest rates, education loans, etc.
The only way to stop it is to break the banks into small ones and force them to compete again. Sure, growth would slow, but stability is better in most cases. We wouldn't have financial crises every decade or so.
>>79443487
Generally 20% downpayments, here.
Can get a mortgage for 80% and a 2nd loan for as much of the down payment as you're short, though. Has double interest rates, but most people need one in their first house cause no one can save 20k+
They are borrowing happiness from the future then cry about it when they have to pay back with sadness...
Typical individualists...
>>79443535
I had to put 100k down for a 400k home purchase recently here in NY. The house was cheap as property taxes are sky high here. But it needs 250k to get it the way I want it, I have it saved up, but I'll most likely get a home line of credit and rent out the building I'm living in now completely, so it works out for me. I should pay off that home line of credit in under 10yrs, it'll be a 125k in debt, besides, the rent I'll get from the place I'm living in currently will cover it without a problem and then some.
>>79440201
>Which of these options sucks the least?
Option 4, being a poor eurofag who can barely afford bread.
You faggots will never know the wonders of American wealth.
We are a consumerist society and if we are not buying things that "improve our lives" we are not going to be happy. You think not being able to afford something will stop that? Think again, fucker.
>>79444190
Don't try to explain to a yuropoor how credit can be put to work for you.
It's utterly beyond them.
>>79440697
>How much do you think your parents spent on your circumcision when you were born?
tfw cunt reminds me of this :(
>>79444190
1/4 of the price down is a lot, surely paying a smaller deposit then paying the mortgage like you would pay rent is easier then jumping through those hoops
personally i do it cause i get free money for paying my bills and everyday items.
>pay bills,gas,rent,etc..
>get cash back
>pay my credit card off with regular bank account
>$$$$$$$$$$
>profit
>>79444347
>>79444347
That's the downside of not having a culture and identity to rely upon to improve your life. You have to buy stuff, use stuff, and waste stuff.
>>79440182
FALSE, my aunt has a lexus and a mortgage and has bern bankrupt 3 times
>>79439059
creditcards are for irrisponsible idiots only
>>79444719
>free money
You mean a tiny slice of the % interest you pay back each month? Yeah because your interests are compounded monthly, kek.
>>79439059
Short answer: because they can -- it's rampant capitalism at its finest. Who's gonna stop them?
It's why "big education" is able to charge like 60K a year for a fucking undergrad degree now.
It all truly is the jewish tricks® masterpiece to keep you in the rat race, too burdened by debt to do anything to get out. You "need" an expensive education, boom 20 years debt. And you "need" a car, boom 5-7 years debt. And you "need" a house, boom 20-30 more years debt.
I spose it'd suck if I didn't have a good job, but I do, so fuck the poors. I can afford to vote for Trump.
also the creditcard was invented by a black guy.
>>79439059
I you lease an item you can write off the costs as a business expense, rather than just claiming the devaluation on your tax return.
And you get a new car regularly for significantly less than purchase costs after trade in and taxes.
Also, 55 interest free days on credit cards allow you to earn interest on the cash you would otherwise have spent - plus you get points.
>cars = tax benefits
>cards = make money by gaming the system
How is servicing a debt that you can afford the payments on not living within your means?
Are you planning on somehow not working in the near future? Let me know your secret. I would love to stop having expenses. That's the only reason I make an income.
>But if you buy it with cash, you own it!
Are you planning on liquidating all your stuff in case of financial trouble? Just sell your crappy car for cash and walk everywhere? Here's another plan: hold onto that lump sum of cash for emergencies, and instead service the 0% APR loan with your paychecks. Or, if you get fired, pay the loan with your savings till you get a other job. Or, let them take the fucking car back.
All this Dave Ramsey shit strikes me as people who are financially illiterate. Maybe they are just scared of money.
Your finances are an ever shifting debit and credit balance. You aren't going to retire, at least not in America moving forwards. A cancer diagnoses is going to bankrupt you regardless.
>>79444956
When you pay the balance off every month you never pay interest.
Do you not have credit cards in the UK?
>>79445139
Interest is added to the actual amount you're lent, compounded monthly.
We have credit cards here, but they aren't as common as debit cards, because no one want to pay extra interest on a purchase they could afford in three months' time. We wait an extra three month and pay cash instead, which is the sensible thing to do.
It may not be obvious in a country ruled by jews, I'll give you that.
>>79444975
>I can afford to vote for Trump.
Perfect anti-trump slogan.
>>79440076
When you pay it off every month as the person you are replying to said, it's exactly the same as paying cash.
Except that you get cash back or travel.
How is it sketchy when it's exactly the same?
>>79444956
last year i got 8000 dollars in cash back for doing something i'd do with my bank card for free.
besides i pay my card off every month before its due so no interest for me.
learn to econ
>>79439059
It's one of the things i never understood in american tv shows, phrases like "don't use that card, it's maxed out"
>>79444675
The rent I'll get for the apartment I'm in now will cover monthly payments on debt and most of the property tax, think about it, win win for me, and I don't have to live in a major city anymore. I spent 200k for it, and I get peace and quiet and it'll be built with every god damn modern convenience I wanted, unattached home with property around it and a great view, 45min by mass transit to Manhattan.
>>79445574
Is this common among US /pol/lacks? We're JEWS! JESUS CHRIST!
>>79445364
No it isn't. If you don't carry a balance you don't pay any interest.
How many times do people have to tell you this?
>>79445139
>>79445574
^^^ these guys knows the deal
>>79445663
Every card comes with a credit limit depending on your financial circumstances and the issuing company.
When you reach that limit, further charges are disallowed.
>>79445684
Spent 250k actually, on fixing it up
>>79445364
Wut? You're wrong though. I've been looking into getting a CC in order to buy a car and as long as you pay back everything on time then you pay 0% interest.
>>79445781
How much do you spend on credit that you need multiple cards? Is it normal in the US to have a bunch of credit cards?
>>79445684
i dont know if its common among /pol/acks but i learned to out jew the jews that run the banks
>>79445364
>Interest is added to the actual amount you're lent, compounded monthly.
You only have to pay interest on your balance if you don't pay it off before the next billing cycle.
The only transactions that have instant interest are ATM cash-withdrawals using your credit line.
>>79445364
Is this trolling? I'll error on the side that you are stupid.
You don't pay interest on every purchase immediately. If you pay your credit card bill off in full when the bill comes there is nothing for them to put interest to. The only way you pay interest is if you have any balance remaining.
Unless credit cards are different in the UK you have been misled.
>>79445923
i have 3 cards
Mastercard
American Express
Capital One Visa
all but 1 are cash back and i spread my expenses thru them.
only reason i have a bank is because my job requires direct deposit or else i'd stick with my CC's
>tfw i bought my PC and motorcycle thanks to the jews
I don't lease anything.
>>79445923
Some people are like that, yes. The card companies often offer incentives to sign up, or only accept you if you already have a card so it's easy to accumulate a few. If you stick with no fee cards, it's not a problem to keep them for having instead of using.
When you see "that one's maxed out" on tv, it's a signal that the person is in financial trouble. I don't know how many people live that way but they're fucked.
>>79445923
oh and my monthly debt is 6500USD a month and i average about 8300USD.
credit cards make life easy for some of us but to others they are a curse.
>>79446410
i work with 3 guys that make 50k more than i do and are way over 250k in debt due to buying shit on credit they can't afford or pay off 1 credit card with another.
just like there are smart people with money you have a shit ton of morons that think a 50k credit limit is free money to spend and pay back later.
Credit and loans are fine so long as you're not a fucking mong and are capable of shit like budgeting and smart debt consolidation.
Once you git gud and build some credit, you get all the dank 0% interest joints so there's no reason not do it. Then again, the companies make enough money of all the mongs out there that they don't give a shit about offering people like me 0% loans that get paid off in a few months.
>>79439059
>credit cards
what kind of shitty poorfag meme is that
some 90% of retail purchases here are made with debit cards, the final 10% are cold cash.
>>79439543
Only problem with this, is that the money you're spending with the credit card would be better off in a savings account.
Just for example, if you buy 2 video games at $60 each, A $40 pair of new jeans that you didn't really need, a $3 coffee every day for two weeks, and a bottle of wine for $40, you've just spent a total of 242 dollars on stuff you don't actually need.
Better to keep that 242 dollars in the bank in case of an emergency, like you had to hire an attorney.
>>79439059
Nothing wrong with using your credit card. The problem is that there are stupid fucks out there that think only meeting the minimum payment is fine when you should be paying everything off every pay cycle. It's a big hole to get out of once you jump in.
My mom has about 30k in credit card debt. She avoids paying interest by loading the debt from one card to another every year. Each new card offers 0% interest for a year, and before that expires and the 15% fuck-you-in-the-butt interest starts, she moves the money to a different card. Not sure how smart that is, but it seems to work for her.
>18 years old
>get a credit card in the mail from Fry's Electronics with a $10000 credit limit
>I never learned anything about economics in high school so I thought this meant they were awarding me 10k for being a loyal customer
>drive over to the store and spend almost $4000 in computer parts, car audio parts, brand new TV, new desk+chair+various furniture items
>receive the bill at the end of the month
>call the store and ask them why they sent it to me
>they explain that it needs to be paid by the first otherwise interest will be added
>tried to cancel the card but the creditors wouldn't let me
And that's the story of how I filed fot bankruptcy
I've got one with a $40k limit that is for emergencies. And another with a $15k limit I use for online purchases, booking flights etc. I like the reward points from that one, pay it off immediately and I don't pay interest.
>>79439059
What I don't get is American overuse of CREDIT CARDS.
We got debit cards here. You spend as much as you earn and then maybe have one monthly pay extra in reserve if something happens...
Why don't Americans you know... use debit cards?
>>79446233
I'm happy to admit I'm wrong if that's the case, but I fail to understand the lender's interest in that scheme.
Sure, there probably is a whole bunch of people who can't repay each month and are therefore paying interest, but is that all?
Also, will you admit borrowing a lump sum today to pay it back in fixed instalments is riskier than paying cash, since you have to secure a steady income to repay your debt?
You're basically doing what underwriters do in insurance (I'm one) but without proper evaluation of the risks. And trust me, you can't predict everything in life, that's why people like me have a job.
In conclusion, even taking into account the fact that you pay no interest and receive cash back, I would still take the conservative and lower risk approach of waiting until I have enough money before proceeding with the purchase. This is the approach people tend to prefer over here.
near 0 interest rates
>>79439059
Because they're fucking retards and can't do basic math or simple impulse control.
>>79447303
>Why don't Americans you know... use debit cards?
Why?
>>79440207
>>manufacturer says get bent
>>reverse transaction with credit card company
never happens
>>79446410
>If you stick with no fee cards
I tried one once and literally nobody accepted it, now i have one from deutsche bank, i think it's something like 40$ per year, i don't think they give you anything back like everyone is saying in the thread and i only use it when i'm abroad since i never know if a shop would accept the debit card i use here every day
>>79447157
I don't believe your story, but I bet there are thousands of niggers that have a similar tale of getting nigger rich with a CC they thought worked like EBT.
>>79444540
REGENERATE YOUR FORESKIN WITH FOREGEN
>>79439059
>>79439595
Have you ever not paid your property taxes goyim?
>>79439059
Banks make more money from debt. The English are not much better.
>>79439059
I buy everything with my credit card. But I also pay off my purchases on time, so I haven't paid one cent of interest. I also get money back for using the card.
I also just took out a car loan for a new car I bought. I probably could have paid cash for it but I want to keep enough money available in my savings account for an emergency. I'll for sure pay it off early though, so all that will happen is that I paid a little interest, but I will also improve my credit score for when I eventually need to buy a house.
Are you like 15 years old or something? This is pretty basic stuff.
>>79441959
BEN "Makes the kike eat shite" GARRISON
>>79445364
If you pay everything off like you are supposed to then it doesn't matter what the interest of the CC is.
>>79439059
Buying is not the same as leasing, einstein.
Go get your shit straight.
Sure I'll just wait 20 years to get a place to live while I save up to buy my house in cash ;^]
>>79447510
Totally different story here. Even my starter card for people with no credit history has 1% back and no annual fee. Of course they started me with a $300 limit (since upped to $5000) but I don't need credit anyway. I also have an Amazon card that gives 3% cash back on Amazon purchases.
Check out some of the offers if you're curious: https://www.nerdwallet.com/the-best-credit-cards?trk=nw_gn_4.0
You can hang yourself with it, but if you control yourself it works well.
>>79439185
It doesn't have to suck. Credit, when used properly, can be an excellent tool for creating wealth.
>>79447303
Because it's easier to use money you don't have and then get eaten alive by the interest rates than to just accept what you want is out of reach.
>>79439543
do you get cash back even if you buy groceries?
There's something sinister about credit cards that nobody mentioned: privacy. Credit card companies make money collecting and selling personal information. Every purchased you ever made, and where you made it, is stored in a database forever. That information is typically used for targeted advertising, but if someone wanted to investigate you, they could buy that information.
>>79447328
Ok, I apologize for calling you stupid.
>but I fail to understand the lender's interest in that scheme
As your next line suggests, yes, there are a ton of people who can't repay each month and that is how they make their money.
>you can't predict everything in life
True, but that is why it is recommended to have an emergency fund of cash for unexpected events.
>I would still take the conservative and lower risk approach of waiting until I have enough money before proceeding with the purchase.
Well, you can have that mentality and still use a credit card to pay for the purchase. If you are a budget minded person, you could pay with a credit card and then consider that money you have in your bank account as already spent.
>>79448426
Well if you have no annual fees and get a small amount back of what you pay then it makes sense that you use them so much, here we have no reason to use them over debit cards
>>79447328
the thing is that for every 5 customers a CC company has that pay off their monthly bill on time without accruing interest they have 100 that will make their minimum payment and barely make a dent in their debt.
another problems Americans have is that they make way less money than they spend in 1 month so they will always stay in debt and never get ahead. i personally don't buy anything i know i cant afford to pay off within a 14 day period.
i don't know how it works in the UK but here in America lenders look into your credit history of good payments and stable income before ever lending someone large sums.
>>79448426
tfw i started with a Capital One visa with $300 limit and i now have 30k on Capital one and 50k on my other 2 cards
some people are just too stupid to take advantage of credit. personally my cash back from this year will pay for Holiday to the Greek islands.
>>79448536
you get cash back on everything. i use my credit cards like debit cards and just pay them off monthly and get $ back at the end of the year
>>79447488
>buy GPU on Amazon
>Amazon doesn't deliver after I get delivery confirmation
>Contact Amazon support, they don't do jack after 3 calls
>File online claim in 2 minutes with Bank of America
>Full amount refunded a week later.
>Dad gets fucked by Delta on way to Australia, gets stuck in China, turns out they didn't file for a Visa
>Calls American Express
>AMEX gets him a Visa
>AMEX gets him booked on a Business Class flight to Sydney
>AMEX deals with Delta
>AMEX gets him full refund on his Business Class ticket
You seriously underestimate the power of a credit card. My Chase card has $15,000 in travel insurance, and if I get stuck in an emergency overseas I can get a free medical flight back home.
>>79448426
>I also have an Amazon card that gives 3% cash back on Amazon purchases.
kike scam m8
>>79448756
>>buy GPU on Amazon
you fucked up.
>>79448536
Yup, anywhere between 1-5%. Depends on the card though.
>>79440713
>Movie tickets and junk food that will cause organ failure.
That's your definition of getting ahead?
Any penny spent on interest is equivalent to shoveling money into a fire.
>>79449005
I went back to NewEgg even though their shipping is absolute garbage. Much better customer support and all the manufacturers have teams dedicated to skimming reviews and offering assistance to people.
>mfw my parents have had debt issues since the financial crisis and has been on a sort of austerity budget because of their debt settlement. They took lots of small loans for both the house, cars and online gambling.
They used credit cards for much of it, I think.
>>79448740
here in israel there is a bank with a cash back card but it's not real cash back.
it's only have certain stores and businesses(you don't get cash back for buying groceries from the supermarket or paying bills) so it's like a discount to buy stuff you don't really need.
>>79440207
Let me get this straight:
A credit company will not investigate whatsoever if you're reversing a transaction and just pay in your place or if they're not paying the manufacturer will just accept it?
One way to solve this is with warranty. How do the US solve this?
>>79448509
Yeah but what the fuck do you guys buy all the time?
I earn about 800€ a month.
I have PC, I have clothes, Food...
I maybe buy a game a month or so?
Thats like maybe 400€ so I save on average say 200€ a month.
If I want a new console it's 2 months wait. I don't dip into my savings only if I'm hyped as fuck. But I'm usually not.
I have $30,000 in savings. I want a $20,000 car. I can afford it!
I could spend 2/3 of my savings in cash all at once. Dave Ramsey says this is the way to go! Now I only have $10,000 in my pocket. Let's hope nothing bad happens until I get that $20,000 saved back up! Oh, and the car immediately depreciated, so even in a perfect world where this car is somehow a liquid asset and the market is perfect, I can recoup $15,000 cash in an emergency! And I'll have no car.
OR
I could spend $2-4,000 on a down payment and agree to pay the rest with NO INTEREST. I have $26,000+ in the bank, ready for if bad shit happens. I can invest that lump sum and make more money. I will continue to make income while only losing $2-400 per month. I am free to save or invest the rest as I see fit. If it gets really bad, I can pay for those $2-400 car payments with that $26,000+ in savings. Or, if Heaven comes crashing down on me, they can repossess the damn thing. Oh no my credit score :(. Or, let's pretend I get a terrible interest rate on the loan. 9%, let's say. That means I paid a whole ~$4,500 over 5 years. Do you think I can afford $900 per year? I think so.
>>79449817
Option 2 tbvh imho.
Most people don't realize that when it comes to shit like student loans and big ticket items, you're better off intelligently budgeting and leveraging credit while investing the money in the bank you save.
Paying shit off lump sum is some 10 year old logic, like you just saved up 5 whole dollars for a toy and can now spend all of it.
>>79447303
Debit cards have very few protections in the US. If someone gets your debit card/card info and pin code, they can empty out your account.
Most banks only protect you for a week, if you don't catch the unauthorized spending by then, the bank won't help you get that money back.
Credit cards on the other hand protect you for at least a month since the company is responsible for the money.
>>79449817
In Europe the only bad thing that could happen is basically a storm fucks your home up.
Get cancer? Everythings free.
Get fucked by cancer and immobile like my mom.
Free special shoes, Free drugs, Free Diapers for the rest of the life, Free Nurse that comes by each day and changes dippers, Free physical therapy. Once a year you get to pick your rehabilitation fascitiy for the rest of your life.
We spend 1500$ on a Nursing Bed at home and 100$ for a Tens machine. Everything else related to my mothers health is payed by GLORIOUS SOCALISM. Thanks Europe!
Also why not you know spend that 20.000$ on the car and have a credit card just in case shit hits the fan? Your 10.000$ savings give you enough credit rating for at least 50.000$
>>79439059
>living within your means
Easy to pretend wages that haven't been stagnant for 30-40 years, isn't it?
>>79450132
Don't you all have smarthphones with bank apps that live transmit your every transaction. Because my 3rd tier country has that. I can't believe you don't. And I pay a whole 2$ for this service.
I buy things on credit that I could afford straight up so I can build good credit, you know, adult things.
>>79449377
Not sure about all credit cards here, but at least the one I have, they do offer real cash back. But they also offer deals with specific businesses, that I think give you a slightly better deal.
Like if you had 20,000 points you would get 200$ back, or 250$ for a cruise ship the company had some deal with.
>>79439137
>service a debt
Yes, yes...
>>79450252
Even with 40 years stagnant wages you guys live 4 time as good as the Average Croatian.
You you're fucking out of your mind with spending.
>>79450298
True, but do you really think anyone over 30 knows how to do that?
Also, I would rather have a whole month to catch any fraudulent transactions and not have to argue with my bank about which transactions are and aren't mine.
>>79439059
you get points back
>>79450112
And I think that's why people are scared of credit. They live hand to mouth and spend money like they found it in the road. They are on an endless carousel of sub-$800 consumer crap, cruise tickets, and hotel rentals.
>$500? Honey let's go to Sam's Club, it's big screen time!
Then they wonder how anyone could ever manage to budget for a monthly expense.
>>79450197
I'm impressed that Croatia has those things, because I'm pretty sure health care has little to nothing to do with the EU, hasn't it?
>>79450598
And how do you catch them?
Credit cards where deliver you a monthly bill via post.
How do you catch it if they only protect for a month?
Car costs 20 grand
I have 40 grand but leave 30 grand in investments that grows each year
I put 5 grand down and pay the 0.01% interest rate on the car loan because I make 5% interest on the money I leave in the bank.
I still buy within my means but I do it in a smart way.
>>79450798
You can access your account online and most companies even have apps now.
>>79447024
>You can't buy stuff and also save.
Oh wow.
>>79439059
I don't buy shit with credit, although I typically pay with debit.
The only thing that goes on credit is my 15 dollar/month phone bill, and that's because they don't accept my debit card (American Express).
>>79450754
Even Ukraine has this. It's just how Europe works. Or should I say how everyone just copied everyone else.
We all have like over 18% VAT and a good 40-50% of our income goes to the state but it's damn well done.
Also Croatia has it's own pharmaceutical companies and many other countries do too. So Medicine isn't done the American way were even a single player system would pay 400$ for fucking one Antibiotics treatment of 20 pills because of crazy pharma lobies and insane prices on cheap as fuck to make drugs.
That Albanian faggot that raised that HIV medicine by 400% or whatever would never happen here.
>>79450798
This>>79450949
Like I said, you get a month to catch any transactions, so when you get your bill, you can still dispute the charge with the credit card company.
>>79450949
Really and he just said
>True, but do you really think anyone over 30 knows how to do that?
>>79450999
Do American banks have what we call "Direct Debit"? Basically you just get the money taken off your bank account every month, like using your debit card but instead you give over your bank details instead, then you don't need to worry about Visa, Amex whatever.
>>79448756
>Camp in Alaska.
>Sleeping one night in the middle of the wilderness, a grizzly comes into your tent and gnaws off your arms and legs.
LOT OF GOOD YOUR CARD WILL DO YOU THEN.
>>79439543
You can do the same with cash you dumb asshole. And yes you do get changed extra for using credit cards don't fucking lie Jew.
>>79450197
I don't know how your credit cards work, but in America they only exist as predatory debt enslavement. That's why they have all the cash back stuff. It's like those tropical flowers that lure in bugs with sweet scents and eat them. The credit companies are okay with a few nerds abusing the 3% grocery story cashback because there are 20 more people who spend like niggers and pay 24.99% interest.
You should only ever use a credit card for reward abuse. Or in dire dire dire straits, like the Mafia is coming to break your legs if you can't pay them for the gambling debts.
Auto debt has low to NO interest on it in the USA. Auto debt is especially safe because these stupid car companies make too much product. They NEED you to buy a damn car because they made hundreds of thousands with more on the way for 2017.
Most people can't afford to buy 100k houses outright. In order to afford a home you need a loan and to get that loan you need to have an established record of building credit. Spending 30% of a credit limit and paying it off every month is an easy painless way to save money.
>>79447024
Are you retarded? Paying with a credit card instead of cash doesn't somehow make you decide to buy things you otherwise wouldn't if you're the type of person who pays off their card in full. It's literally free money back and costs you nothing. I'm already going to buy groceries... Why not use my AMEX to get 6% back?
The only time I've ever impulse bought something on credit is if there is some crazy offer like $20 back on a $20 or more purchase at a specific store, and I did this once to buy some coffee that I would have eventually bought over time anyway.
>>79451113
But if it's made on the day you get your bill and you aren't home you're fucked?
>>79447024
That's really just an argument against wasteful spending. What difference does a credit card make in that situation?
>>79450974
Waste not want not, friend.
My point was that credit cards and their silly '"rewards" encourage you to buy consumerist things you don't need, but i know i'm falling on deaf ears.
>>79451281
You would be covered until your next bill is due.
>>79439059
credit is insured and it is easier to dispute charges.
>paying interest like a pleb
stack Benjamins bro.
>>79444540
Nothing because my parents love me
>>79451172
Not to my knowledge. I researched different banks for a really long time, and never heard anything like that.
The AmEx Bluebird is pretty much the best banking option you can have if you want to be able to direct deposit, have 24 hour branches (walmart acts as your physical bank), 24 hour phone customer service (via AmEx), and absolutely no fees (overdrafting is impossible).
>>79450754
>kraut believing the EU created healthcare
kek. The EU created NOTHING. Social healthcare was present in most european countries decades before the EU was even created.
>>79451400
Do you buy food? Did you know you can buy the same food you normally get with a credit card and use that to set a good credit record?
>>79447024
>I don't know how to budget
get a load of this nigger
>>79450798
My credit card catches fraudulent purchases basically immediately.
A few months back, I went to a store and it said my card was declined. So I called my credit card company and they said they shut it down because of a suspicious transaction.
I live in Minnesota, so 90% of my purchases are here. But out of the blue in the middle of the week there was a $500 purchase at a hot topic in Pennsylvania. Somehow some goth got my card info and made this retarded purchase.
They canceled the card. I didn't have to pay any of that and they sent me a new card. Very simple.
If you are going out of town though it is good to notify your credit card company about it so they don't think someone stole your info like in my case
I bought new tires on credit because I needed them now and couldn't wait, and I'm also saving money. I got a $140 rebate by using a credit card, with 0% interest for 12 months. It will be paid off in two months, for $140 less than what I had to save. Literal free money
>>79451476
Do you even read my post? Because I stated that I believe the exact opposite. Are you really older than 18?
>>79451223
The financial illiteracy in this thread is frankly amazing.
>You get charged extra for using credit cards
Nope. There are only a couple reasons you would pay extra.
1. If the credit card has a yearly fee. Many cards do not have this to begin with.
2. You don't pay off the total balance when the bill comes. For example, your balance is $300 and you only pay $100. That $200 will remain and you will begin to pay interest on it.
>>79439059
I moved from Yuroop and always had that question myself. The fact is, American credit system doesn't require you to pay interest if you pay a part of what you own every month.
The system we have in Yuroop is different. Buying anything with a credit card, we have the interest added to our debt immediately and we should pay more than we borrowed from the very first payment. And longer you pay for your debt, the more money you lose eventually. That's why credits are so unpopular in Yuroop.
>>79440810
>American Express
Oh wow, literally a piece of fucking plastic now
Costco doesn't take them anymore because their fees are too goddamn high.
>>79451378
When you pay with a credit card. You automatically pay more. Since most of the apply some kind of fee.
>>79451905
The only reason Costco took them in the first place is because AmEx agreed to waive their fees.
When Bluebird got kicked off, they waived the fees for every single Wal-mart in existence (which outnumber the Costco stores), while offering the best checking account in the US, so they told Costco they weren't getting their fees waived anymore, and Costco went to Visa, and got fee-free transactions.
>>79448756
>>Dad gets fucked by Delta on way to Australia, gets stuck in China, turns out they didn't file for a Visa
>fucked by delta
Your dad is a fucking moron.
>hurr I'm too retarded to handle my own visa applications
>fly across the fucking globe but can't google if a visa is needed for a country.
>Delta's fault for not babysitting
And we wonder why we're all treated like fucking children
>>79439185
Prophet
>>79440713
>canada
>one of the highest debt-to-gdp nations
>shilling debt
nice
Because everything is expensive as fuck.
If I wanna buy a decent house, I'm gonna have to save a fuck ton of money (which is almost impossible to do in a timely manner if I don't have a 6 figure yearly salary) or get a mortgage.
There is literally no other option.
>>79451172
Yes. I have that on multiple things per month that come directly out of my checking account. If I could have that come directly out of my credit card I would do that, but some places only allow it to come out of a bank account.
>>79451281
The bill comes a couple of weeks before its due date. Also, you can just pay online same time every month. One time my card company sent my notification email five days later than usual, but I'd already paid that month's off out of habit.
>>79451905
>cost co doesn't take them anymore
>useless plastic
Who gives a fuck about costco?
>>79452121
Not here they don't.
>>79452121
Not in the states, you don't. There's the rare exception, but most stores account for it whether you use credit or not. For example, you pay the same price whether you use cash, Visa/Mastercard (3% fee on the purchase levied against the store), Discover (4% fee on the purchase levied against the store), or AmEx (5% fee levied against the store).
This means that they are gonna estimate their amount of monthly fees, and spread it equally throughout all customers by simply raising the price by, say, 3%.
>>79452204
Chances are a lot of Americans aren't even aware that visa-on-arrival is not a thing in some places because 90% of places do it. Still a pretty idiotic fuckup.
>>79451900
That explains a lot.
The state wants them in a never ending cycle of debt slavery and the population is more than willing to spread their ass and submit to their will.
I'm reading Ben Franklin's autobiography. You know, "A penny saved" Ben Franklin?
That nigga was in debt like CRAZY. But he needed to take those risks. Nigga picked up 35 pounds for a friend and spent it all on debts he owed. IT WASN'T HIS MONEY. Nigga went to England with a promise of a promise of a credit line for printing materials and ended up stuck there. Nigga bought and started a printing shop in Philadelphia under the assumption that a friend's father would give them a loan, and then the friend became an alcoholic and his dad bailed. Nigga took multiple loans from friends to start his newspaper.
But nigga paid his debts and used that credit line. If he had sat around trying to save up any significant amount of cash with his shit printer's apprentice salary, he would have never been the GOAT American.
>>79439910
Having a credit card helps your credit rating though
>>79452546
Plus paying rent while you're saving up for the entire cost of a house is economically retarded, because paying a morgage builds up equity which you hold on to. Rent is just throwing away money.
>>79452121
In some cases you might pay a convenience fee for using the credit card but the CC companies mandate it is used only in certain situations (alternative payment channels).
CC surcharges (just adding a fee for using the card) are illegal in 10 US states and in my experience are pretty rare.
As far as I know, no major companies use surcharges for CC use.
Maybe it is different in Croatia
>>79451900
I can see why. It's pretty much like a "cash advance" place in the states. If you borrow 50 bucks, you pay bay $57.50, even if you turn around and try to pay it back the second the money is given to you. Whereas you don't pay a penny extra so long as you pay off the full balance every month.
I can see why a Cash Advance card wouldn't be popular over there.
>>79452121
In the US the fees are almost always placed on the vendor, not the customer.
Its how credit card companys can offer cash back.
>Buy $100 of stuff with card
>X store gets charged 3% fee, only receives $97 for goods
>credit card company gets $3 for have person use their card, give $1.5 back to customer for it
I've seen a lot of gas stations having "cash discounts" that are the same amount that the credit card fee % is
And most gov't agencies will charge a "convenience fee" of 3-5% if you use a card so they get their amount.
I've put $30000 through my cc since I've had it and it's earned me about $800. $0 cost and interest.
ITT: retarded millenials who don't know grace periods or rewards for using the most convenient payment method
>>79451223
>I have no idea what I'm talking about but I'm going to post anyway
>>79452632
Where the fuck are you from, m8? People have a massive hard-on for Costco out here in the West. It must not be a big thing everywhere.
>>79447130
That's how I paid for my house. Couldn't get a bank to issue a $20k loan to add with my savings to pay outright for my house, so I took out a couple of cash advances with 12-18 month 0% APR. What I didn't pay off got moved to other cards, and currently I still owe about $5k on a 0% card which I'll be moving over (if necessary) to yet another card next year.
>>79452868
>the state
It's not the state man, it's big banks. The government in the US is cucked by banking interests and tards waving "muh business" flags that don't understand how they're screwing themselves over.
For as much as the government is guilty/accused of screwing people's lives over, this is not one of them. Any attempt at the substitution of rolling lines of credit through other means that are more sustainable are immediately dismissed as economically heretical.
>>79452957
>rent is throwing away money
https://www.youtube.com/watch?v=KAMeI4uHAFE&ab_channel=PreetBanerjee
>>79453074
Yeah, I've noticed that in the public sector as well.
Still, I would rather pay an extra 3% to tag my card online than wait 3 hours to write a check in person. I wish they would just contract it out to different private entities, so that there would be some competition between them. I bet customer service would skyrocket.
>>79447157
Don't pay it, off your file in seven years, debt sold off to collector and you don't pay it if you never acknowledge it.
>>79452957
RENT IS JUST THROWING AWAY MONEY XXXXXXDDD GOT EM, GOT EM!!! THIS IS WHY I DON'T MOVE OUT OF MY PARENT'S HOUSE AT 40 YEARS OLD, CAUSE I DON'T WANT TO THROW MY MONEY AWAY, IT'S NOT CAUSE I DON'T HAVE A JOB
>>79453204
Florida, not that I'm ever actually in my home state
>travel >280days/year
I understand peoples hard-on for Costco and Sam's Club
I just can't get over the shit quality of everything they sell.
>>79452121
Same thing applies to debit cards too, I think. Some Paki-shacks won't take a card purchase for something less than say, $2.
>>79453268
Rent is throwing away money WHEN you can perfectly well afford to mortgage and maintain a house instead.
There are a lot of times where it's smart, hell I've been renting for a couple years now.
>>79440626
The mileage limits are ridiculous though. At least for me.
>>79453323
Personally, with as dynamic as the job market is in the States, I think it's more foolish to buy a house. My parents always buy property, and, since I was born, until now, they have lived in 9 houses at this point, and unloading each and every one has been a pain.
Better to rent, in my opinion, especially if you can find a place that's willing to go month to month after your initial lease. Then if you need to move for a new job, you just give 30 days notice and you're done. No setting up your place to sell, no realtors, no "fixing" shit.
I was talking to my mom the other day and she was talking about some story she heard on fox, or on the radio or something about how Muslims cant be charged interest since it's against their religion. So they just basically take out a 5000$ loan, but have to pay back 6000$ after some period of time. The thing is though, that it's not an uncommon thing to see these retards pay off these loans early.
Literally why?? Your dollar is worth less towards the end of the payment period. You aren't being charged interest.
idk thought it was funny
>>79452957
Mortgage? You mean when some foreign investor buys a house same day, cash, over asking price?
They don't want to give your whiteboy ass a 30 year loan while you try to Jew them out of every $1,000 you can.
Home ownership is for the wealthy. And for every property they buy and rent out, they only get richer.
>>79447525
w h e n
>>79453528
The weird thing is if you pay with debit the fees are just a few cents for the credit card processing, it's when you purchase with credit that they get hammered for at least .50 and then a % on the purchase.
>>79453739
There's some company, I think it's called Square, that simply charges a flat percentage rate for all credit/debit purchases. Wanna say its 4%. No extra fees or anything. Lots of new small businesses are going that route, as you don't even need a dedicated phone line (like you do for those cheap credit card machines). Wifi or 3G is good enough.
>>79447024
>savings account.
Yeah, missing out on those 0.007% interest rates these days.
>>79453693
Charging interest on money lent to people of your own faith was/is called usury. Nowadays, usury in the West refers to undue interest rates, like a loan shark.
usury used to be a law in Christian nations as well. That's why we had Jew bankers in every royal court (and why the King would let the occasional pogrom happen. "Oh, my debt disappeared? How sad!") I think the Italians acted as money lenders for the Muslims and Jews.
Eventually it stopped being seen as a sin and now we have our interest and debt based economy. Thanks Protestants!
I'm sure the Muslims have their own credit unions and such. They probably pay back early to avoid pissing off the people lending them money. Just because someone gives you a due date doesn't mean it's okay to push until 11:59PM that day. Contractually maybe, but not socially.
We call it money management here.
>>79439762
I use my credit card for ticket master, insurance and my cell phone. I've never missed a payment, often keep 2-500 in there. Got a car loan just to build credit. I work at a camp and save most of my cash, spare 3 packs of smokes and maybe a 12 of beer a week. In a year I'll buy a rural house cash. Then I don't know what to do. Army, help out on some farms. Got time to think, don't know what business I could reallostically start
>>79453699
Provided you're not poor as fuck you can also get really decent tax deductions when you're paying a mortgage. My brother has 3 properties which he could afford to pay off but hasn't in order to keep tax benefits.
>>79440810
>931k points
jelly
>>79453545
>when you can perfectly well afford to mortgage and maintain a house instead
for someone who's theoretically so financially savvy, I'm surprised that you'd say something like that. In the last century, we were blessed with pretty good economic growth, especially in the latter half of the century due to the rebuilding of Europe after WWII, and a bunch of other factors, yet the business cycle was and is still very relevant. Post 2008, we're facing more uncertainty than ever. Whilst the economy will continue to recover and crash, I'm honestly pessimistic about the prospects of the 'golden era' of the 1950's-2000's (with an interlude in the '70s.
A mortgage is on average paid off in 25-30 years. Unless all you business cycle assumptions are based on Kondratiev, I'm very surprised you'd say that. Maintaining a house in the short run is OK if you have a stable job, but in the long run, who knows. You saw what happened in 2008, and what the main trigger of the financial crisis was. You should know this more than anyone else as an American.
>>79453699
get job.
get better job.
start career.
get promoted.
get a higher wage.
save a deposit.
get a mortgage.
buy a house.
over pay to reduce compound interest
save at the same time.
using saves to invest.
receive bonuses and company shares.
further diversify savings
rent out your property.
>money from job.
>bonus from job.
>shares from job.
>savings from job.
>savings from investments.
>savings from lettings
tfw when so many revenue streams
>>79454171
>They probably pay back early to avoid pissing off the people lending them money. Just because someone gives you a due date doesn't mean it's okay to push until 11:59PM that day
There is no reason to pay off your debt early if the amount is fixed, and there is no interest. They aren't doing it because they don't want to hurt the banks feeling, they are doing it because they are stupid.
pessimistic about our current prospects in comparison to the golden era*
>>79453693
Islamic banking prohibits any form of interest - either through savings or via loans.
Therefore loans are paid in full with no interest, and deposits held by a bank attract no interest.
Makes a mockery of the banking system if everyone treats it as a zero-sum game (basically invalidates Keynesian economics if a bank only has islamic customers) - but if you're a non-islamic customer with a bank offering services to muslims - you just got a cut of their savings interest :^)
>>79447157
>I never learned anything about economics in high school so I thought this meant they were awarding me 10k for being a loyal customer
Your just an idiot. I'm a 9th grade drop out with a GED and I always paid in full each month, never borrow money.
>>79447157
How can someone be this stupid? And why the fuck didn't you just return all the shit you bought?
