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Son of Mr. David-get it ?
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Been debt free since 2005.
No regrets.
I have 2 credit cards that I pay off every month.
Last time I checked, my credit score was 820.
Now I have my credit froze at all 3 of the credit bureaus.

I'd say as long as a person keeps at least one credit card active their score should stay up
 

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So, for Christmas the wife and I decided to pay off the house and property for each others gifts. We paid off the last 22,100 and something in December. Checked credit karma today and my score went down fucking 41 points for closing the account. WTH?
Who gives a shit what your score is. You can buy what you want when you want it. Total scam. Your biggest wealth building tool is your income and when your income is going out the door to pay interest it's building someone else's wealth. Now you can started stacking that cash into investments and really start piling it on. It's a fantastic feeling.

I plan on getting rid of our only credit card this year and only having a debit card. You would think that never paying interest it wouldn't be a bad thing that you have a credit card but it is. Over the course of a year you spend approximately 18% just because a credit card doesn't hit your pain receptors like cash does. As a small example if you look at vending machine sales credit card sales are 121% higher then cash sales. I didn't believe it but we put our Amazon account on our debit card and it's almost embarrassing how much less we spend per year compared to when it was linked to our CC. It makes you actually think of your account every time you buy something instead of not even thinking about it.

What hits your pain receptors the worst in order:
Cash
Debit Card
Credit Card
Phone/Computer/Online

Many studies have been done and the quicker and least painful that the purchase can be done the more people will spend. Amazon is the master at this.
 

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I love credit cards. They give us all kinds of benefits. Cash back, Sky Miles, etc. But then, we always pay off the entire amount each month. I even have a Sheetz credit card because it saves me a few cents a gallon on fuel. Debt free and love it. Have no idea what our credit score is, because we don't need one. Take care. Tom Worthington
 

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Discussion Starter #25
I love credit cards. They give us all kinds of benefits. Cash back, Sky Miles, etc. But then, we always pay off the entire amount each month. I even have a Sheetz credit card because it saves me a few cents a gallon on fuel. Debt free and love it. Have no idea what our credit score is, because we don't need one. Take care. Tom Worthington
I have an American Express that I use for my business and personal stuff. We buy all of our gas, materials,, groceries and eat out using it. It gets paid in full each month, and we get a lot of free stuff with points from it mostly from amazon.
 

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I have only had one debt in my entire life.
My first & only mortgage, was a 15 year fix
rate, paid it off in 7 1/2 years.

That was it. Never a car loan, school loan
or any other debt. And no money help from
anyone.

I'm not wealthy. As a matter of fact, I really
don't make very much income, but when
you're debt free you tend to have a higher
standard of living than those in debt.

I have never owned a credit card in my life
& won't ever own one. I use cash or my debit
card. And yes I've purchased all the normal
things in life just fine - without credit.

It can be done if that is ones goal. It has been
a great way to live, at least for me it has.
 

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I love credit cards. They give us all kinds of benefits. Cash back, Sky Miles, etc. But then, we always pay off the entire amount each month. I even have a Sheetz credit card because it saves me a few cents a gallon on fuel. Debt free and love it. Have no idea what our credit score is, because we don't need one. Take care. Tom Worthington
90% of airline miles or other card "benefits" aren't even used.
 

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90% of airline miles or other card "benefits" aren't even used.
My wife will be tickled to death to know she is in such an exclusive (10%) group. :) Take care. Tom Worthington
 

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Who gives a shit what your score is. You can buy what you want when you want it. Total scam. Your biggest wealth building tool is your income and when your income is going out the door to pay interest it's building someone else's wealth. Now you can started stacking that cash into investments and really start piling it on. It's a fantastic feeling.

I plan on getting rid of our only credit card this year and only having a debit card. You would think that never paying interest it wouldn't be a bad thing that you have a credit card but it is. Over the course of a year you spend approximately 18% just because a credit card doesn't hit your pain receptors like cash does. As a small example if you look at vending machine sales credit card sales are 121% higher then cash sales. I didn't believe it but we put our Amazon account on our debit card and it's almost embarrassing how much less we spend per year compared to when it was linked to our CC. It makes you actually think of your account every time you buy something instead of not even thinking about it.

What hits your pain receptors the worst in order:
Cash
Debit Card
Credit Card
Phone/Computer/Online

Many studies have been done and the quicker and least painful that the purchase can be done the more people will spend. Amazon is the master at this.
Not sure where you got your info from, but it sounds a bit silly. If someone starts paying with cash instead of credit, it's because they realized they have a spending problem. Not everyone is bad with money.

If you do not have a spending problem, paying with cash instead of credit will generally decrease your buying power, plain and simple. Not all, but most goods and services in our country have transaction fees already accounted for, so you're paying the fees whether you use a credit card or not.

If someone is bad with money and pays cash for everything, fine. Just realize you're paying a price.
 

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MFI on CH3OH
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13,950 Posts
90% of airline miles or other card "benefits" aren't even used.
I haven't paid for a flight or holiday in 10 years. Card points pay for it all every time, run my whole business through the card. Perceived 'debt' is a good thing if you know how to balance the books.
 

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My old boss has no debt to speak of other than his credit card he mostly only uses for parts and a small line of credit on his house. I asked him one day why he kept the line of credit and only pays the interest? He said the interest on the 40.000 he owes won’t break him and it keeps his credit score up. He said before he borrowed against his house he couldn’t even co sign a loan for his brother because he had almost no credit rating. He’s old school and had everything paid for early in life and lives very simply.
 

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Not sure where you got your info from, but it sounds a bit silly. If someone starts paying with cash instead of credit, it's because they realized they have a spending problem. Not everyone is bad with money.

If you do not have a spending problem, paying with cash instead of credit will generally decrease your buying power, plain and simple. Not all, but most goods and services in our country have transaction fees already accounted for, so you're paying the fees whether you use a credit card or not.

If someone is bad with money and pays cash for everything, fine. Just realize you're paying a price.
You are warped by the American way thinking because someone is paying cash that they have a spending problem. How does paying in cash give you less spending power. I think you mean it allows you to buy shit you shouldn't be buying because you can spread it out farther.

There have been studies done that when using plastic you spend more because it doesn't register as pain to your brain. If you go to the parts counter and buy something it's way more likely you will throw in a bunch of extra crap when you can just swipe your card as compared to peeling off cash money.

It's not my opinion it's a proven fact. Everyone's been trained to think they will spend more money if they keep cash on them but it's been proven to be the opposite.
 

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My old boss has no debt to speak of other than his credit card he mostly only uses for parts and a small line of credit on his house. I asked him one day why he kept the line of credit and only pays the interest? He said the interest on the 40.000 he owes won’t break him and it keeps his credit score up. He said before he borrowed against his house he couldn’t even co sign a loan for his brother because he had almost no credit rating. He’s old school and had everything paid for early in life and lives very simply.
Just because he does it doesn't make it right. He's doing all kinds of things wrong that I won't even get into.
 

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There is 13 trillion miles of unused airline miles. It's a big scam to keep you using their card. No millionaire has ever said they got rich by any perceived benefits of using a credit card.
I just paid off and cut up a credit card with "miles". I figured I wouldn't be the 90% and got a new electric kettle I didn't even need and a cell phone holder for the car, that I also didn't need, just to use them up.
 

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MFI on CH3OH
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13,950 Posts
There is 13 trillion miles of unused airline miles. It's a big scam to keep you using their card. No millionaire has ever said they got rich by any perceived benefits of using a credit card.
🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️
Its one of many tools the wealthy and smart people use and reap the rewards if they have discipline. You do realise credit cards cost you ZERO if you know how to use it......
 

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You are warped by the American way thinking because someone is paying cash that they have a spending problem.

There have been studies done that when using plastic you spend more because it doesn't register as pain to your brain. If you go to the parts counter and buy something it's way more likely you will throw in a bunch of extra crap when you can just swipe your card as compared to peeling off cash money.

It's not my opinion it's a proven fact. Everyone's been trained to think they will spend more money if they keep cash on them but it's been proven to be the opposite.
What you're saying may apply to a certain sample group, but you're ignoring the fact that not everyone is bad with money. It may have been observed that a group of people as a whole spent less money when paying cash, but that's not a very useful "fact". Correlation vs causation, right?
 

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I’ve had my current CC for 18 years and have flown for free once or twice a year for those 18 years. I don’t see the down side others seem to imagine.

Payed off my house 6 months ago but I have no idea if my rating went down. I’ll worry about that when I decide to use someone else’s money.
 
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