Quote:
Originally Posted by Rmtt
Call me old-fashioned, but we don't even have credit cards aside from one that I got from Citi-Bank years and years ago to use for work. It's so old, they constantly try to get me to "upgrade" to a newer card.
But this card has "perks" that are no longer offered such as covering any gap on insurance on a rental vehicle, and "cash-back" in the form of gift cards to all kinds of merchants.
When used for work, I make some pretty big purchases and get points for that...then get points for paying it off. My work let's me keep any benefits that come along with it.
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Yup - I agree. For what it's worth - I don't borrow money. Period. All my cars, houses, and all other expenditures or assets have been paid for in cash.
I will take advantage of some credit card offers though, but I will use them and dump them. Case in point:
Taking the family to Disney next spring. Capital One had a program were you got 50,000 points (worth 0.01 each) if you spent $3K in the first 90 days. So I opened the card, paid for the hotel and park tickets with it, then used the points I earned (total of about 56,800) from those purchases to credit the balance as a (purchase eraser) for a total of $568. Paid the remaining balance the following week and cancelled the card. Took me a week and about 30 minutes of my time and managed to bilk them out of over five hundred bucks.
