favorite credit card

[Tabs]

I suppose I do also like the the AmEx Blue cash card, while feeding teen boys. 6% back on groceries. Also easy peasy. I don't expect we will keep this card once we are empty nesters.

Amex Blue is a fantastic card, and 6% back on groceries is a big win, because that's the one category pretty much everybody uses.

[disneysteve]

I personally really dislike rotating categories. I will shop around a card every few years, but I don't want to change up my whole rewards strategy every 3 months.

That's honestly never bothered me at all. Each quarter, I put a little piece of painter's tape on the Discover and Chase cards with a note of the categories. When Amazon is on the list, I go in and change the default card on our account. The whole process takes under 5 minutes 4 times a year but pays off greatly in rewards.

[EasyMoney00]

Our daily use cc is Costco. From time to time we sign up for cc bonuses.

Ill watch Dave Ramsey clips on yt from time to time. One thing he gets dead wrong is his view towards credit cards. In his mind he just can't comprehend that anyone can use a credit card and pay it off in full each month...all while getting some money back from everyday expenses. Do a lot of people abuse credit cards, sure. But not everyone! He can't wrap his head around that for whatever reason.

[disneysteve]

Our daily use cc is Costco. From time to time we sign up for cc bonuses.

I’ll watch Dave Ramsey clips on yt from time to time. One thing he gets dead wrong is his view towards credit cards. In his mind he just can't comprehend that anyone can use a credit card and pay it off in full each month...all while getting some money back from everyday expenses. Do a lot of people abuse credit cards, sure. But not everyone! He can't wrap his head around that for whatever reason.

I think his message is appropriate for his target audience. People who have zero self-control shouldn’t ever have a credit card.

[EasyMoney00]

I think his message is appropriate for his target audience. People who have zero self-control shouldn’t ever have a credit card.

It's not just his target audience he references. He doesn't think anyone should use credit cards. If in not mistaken Dave himself had money issues early on. Maybe that's why he's so against them? Either way, I enjoy him. I never needed his advice nor Suzie ormans, but they're fun to tune into now and then. Some of his calls are rather eye opening.

[disneysteve]

It's not just his target audience he references. He doesn't think anyone should use credit cards. If in not mistaken Dave himself had money issues early on. Maybe that's why he's so against them? Either way, I enjoy him. I never needed his advice nor Suzie ormans, but they're fun to tune into now and then. Some of his calls are rather eye opening.

He’s definitely extreme but I think he needs his message to be consistent. He can’t tell one person not to use credit and tell the next person it’s okay so I get it. Although I I don’t agree with a lot he says I often recommend his plan to the people who really need it.

[kork13]

It's not just his target audience he references. He doesn't think anyone should use credit cards. If in not mistaken Dave himself had money issues early on. Maybe that's why he's so against them? Either way, I enjoy him. I never needed his advice nor Suzie ormans, but they're fun to tune into now and then. Some of his calls are rather eye opening.

In fairness to the man, there is a solid body of evidence that credit card use leads to higher spending -- it doesn't "feel real" when you spend on credit cards vs. cash, so people tend to be more willing to spend extra. I don't recall exactly, but I think it was around 10% higher spending with CC vs. cash.... Well higher than any rewards you're getting.

That said, I'm keeping my cards, and try to optimize rewards to be as high as possible. I likely am spending more, but the rewards make it less of a hit & I'm willing to accept it as a cost of convenience.

[EasyMoney00]

In fairness to the man, there is a solid body of evidence that credit card use leads to higher spending -- it doesn't "feel real" when you spend on credit cards vs. cash, so people tend to be more willing to spend extra. I don't recall exactly, but I think it was around 10% higher spending with CC vs. cash.... Well higher than any rewards you're getting.

That said, I'm keeping my cards, and try to optimize rewards to be as high as possible. I likely am spending more, but the rewards make it less of a hit & I'm willing to accept it as a cost of convenience.

I definitely agree with this. The other day my wife and I were discussing people's spending habits now vs our parents or grandparents era. You always hear how much easier it was for them to buy a house, man worked, wife stayed home, family vacations all on one salary. There is some truth to this, but cash was king back then. I'm not sure how common credit cards were. People seemed to live within their means more so than today, where people want instant gratification and will use credit for everything.

[disneysteve]

I definitely agree with this. The other day my wife and I were discussing people's spending habits now vs our parents or grandparents era. You always hear how much easier it was for them to buy a house, man worked, wife stayed home, family vacations all on one salary. There is some truth to this, but cash was king back then. I'm not sure how common credit cards were. People seemed to live within their means more so than today, where people want instant gratification and will use credit for everything.

I think you're conflating two issues there, but yes, there were no credit cards in our grandparents era. Diners Club was launched in 1950 and credit usage didn't really become common until the 60s and into the 70s.

The reasons why people could live on less years ago has more to do with higher standard of living and wage growth vs price growth but that's an entirely different discussion.

[LivingAlmostLarge]

Oh no way to do I spend more on the CC. I know what I charge and what I spent and can track what i'm spending in the month. BUT cash, I couldn't tell you where the $100 or $200 that sit in my wallet is spent on. I couldn't remember it and I certainly if I had it in an envelope couldn't tell you how I spent it. Just that I spent it and it's gone. Cash in my hands I'd really have to think.

Convience for sure. But many place also don't even take cash anymore. And it's impossible to pay for an uber with cash. Even taxis i feel like are anti cash in some ways.