Playing the Credit Card Game

[disneysteve]

I followed up with Chase and the resubmitted the application. One of the questions was "Mother's Maiden Name". I am curious if they were looking for the full name or last name only.

Any time I have ever encountered that question it was last name only. And they only have it because you provided it, so if you gave last name, that's what they've got.

[Petunia 100]

Dave Ramsey has some odd sayings. There are countless small economies which taken by themselves never made anyone a millionaire, yet he encourages them.

If you were walking down the street and saw a $50 bill lying there, would you stop and pick it up, or would you say "No one ever became a millionaire by picking $50 bills up off the ground!" and leave it there.

I make $500 to $600 a year tax-free simply by putting many of my expenses on a credit card. Why should I stop? There is no good reason.

[disneysteve]

Dave Ramsey has some odd sayings. There are countless small economies which taken by themselves never made anyone a millionaire, yet he encourages them.

If you were walking down the street and saw a $50 bill lying there, would you stop and pick it up, or would you say "No one ever became a millionaire by picking $50 bills up off the ground!" and leave it there.

I make $500 to $600 a year tax-free simply by putting many of my expenses on a credit card. Why should I stop? There is no good reason.

Dave's stance on credit cards makes sense for his intended audience. Most of them are incapable of using credit responsibly, which is often how they ended up so deeply in debt. For that crowd, no credit is a very good idea. For everyone else, though, who can use them responsibly, they are a great financial tool.

[Jluke]

The one clip I stumbled on with Ramsey talking about credit cards he specifically mentioned McDonald’s.

I won’t get the story 100% correct but he said originally McDonald’s was cash only.

When they switched to accepting credit cards they saw large increases in the amount spent per visit - “want to supersize that?” Customer: “Sure why not I got plastic”

so he believes that credit cards will influence SOME people to spend more than they intended or should spend with cc.

it was a good story

[disneysteve]

The one clip I stumbled on with Ramsey talking about credit cards he specifically mentioned McDonald’s.

I won’t get the story 100% correct but he said originally McDonald’s was cash only.

When they switched to accepting credit cards they saw large increases in the amount spent per visit - “want to supersize that?” Customer: “Sure why not I got plastic”

so he believes that credit cards will influence SOME people to spend more than they intended or should spend with cc.

it was a good story

That is a true story. Dave didn't make that up. There are absolutely people who can't handle a credit card. For whatever reason, they have a disconnect in their mind between using a card and having to pay the bill. If you're one of those people, cut up the cards. However, if you are a person who understands that whatever you charge to that card needs to be paid for when the bill comes and you plan accordingly, go ahead and take full advantage of all of the benefits you get for having and using a credit card.

[LivingAlmostLarge]

Read either gocurry cracker or root of good, they say they use Credit Card reward points as NON taxable free money. True to pay for all their travel. I just redeemed $3k in capital one points in September. I am about to redeem $3k in points on chase UR points. I also redeemed about 1million miles on alaska for airline tickets in 30 day from august trip to japan and then booking a bunch of trips in 2026.

Writing all of that I literally saved probably in 30 days $20k in cash by using points. Alaska $10k in tickets for business class seats, $3k literally capital one rebate, $3k chase rebate, and then mileage tickets that would cost $4500 in Feb 2026, and $6k in auguest 2026. Wow. I hadn't realized I had saved so much. And in May memorial day I transferred 60k points to hyatt and saved $2500 in hotel rooms for the weekend. All tax free.

Yeah I didn't get rich this way but it's a nice hobby of extra money

[myrdale]

Additional followup on the Chase drama.

After my phone call to confirm I was myself, they sent me a second letter in the mail saying they thought my identity was being stolen. After making another phone call and reconfirming my mother's maiden name they approved the application. A week later the card arrived in the mail.

I'm planning on rebuilding my back deck in the near future. My plan is to charge that project to the card in addition to all of my daily expenses for the next couple of months, paying the balance off in full each month. I am not sure how practical it will be for me to hit their $5000 spending in three months for the welcome bonus. Beyond the deck I don't plan on spending any great amount on it, but we will see.

[LivingAlmostLarge]

Additional followup on the Chase drama.

After my phone call to confirm I was myself, they sent me a second letter in the mail saying they thought my identity was being stolen. After making another phone call and reconfirming my mother's maiden name they approved the application. A week later the card arrived in the mail.

I'm planning on rebuilding my back deck in the near future. My plan is to charge that project to the card in addition to all of my daily expenses for the next couple of months, paying the balance off in full each month. I am not sure how practical it will be for me to hit their $5000 spending in three months for the welcome bonus. Beyond the deck I don't plan on spending any great amount on it, but we will see.

Pay your taxes. Just pay a small fee for paying your property taxes or irs or whatever.

[msomnipotent]

I just paid for our daughter's 21st birthday trip to Vegas with points last week, and I feel like I should really take a closer look at what credit cards I'm using and their benefits. I feel like it took way too long to earn that trip.

[LivingAlmostLarge]

I just paid for our daughter's 21st birthday trip to Vegas with points last week, and I feel like I should really take a closer look at what credit cards I'm using and their benefits. I feel like it took way too long to earn that trip.

Yep if you responsibly pay off your CC then definitely look for ways to get better deasl