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Credit Card Wars


DakotaHale
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Credit card wars  

14 members have voted

  1. 1. Which credit card brand are you most loyal to/use the most?

    • American Express
    • Bank of America
      0
    • Barclay's
      0
    • Capital One
      0
    • Chase
      0
    • Citibank
    • Discover
    • Mastercard
      0
    • Visa
    • I do not use credit cards
    • Other
      0


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1 hour ago, DakotaHale said:

I'm an Amex nerd but I will give a huge shoutout to my Discover card, which was my first card. The rotating categories are absolute heat sometimes. It becomes my temporary main card when it gives you 5% back on restaurants or gas for that quarter. Can't beat that.

What is the advantage of Amex? I don't know if it's still the case, but I remember in the 2000s there were a lot of places that wouldn't accept Amex because it had more expensive charges or something. 

I selected VISA mainly because that's the one I'm used to. I've never had an issue with them either. 

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1 hour ago, vcczar said:

What is the advantage of Amex? I don't know if it's still the case, but I remember in the 2000s there were a lot of places that wouldn't accept Amex because it had more expensive charges or something. 

I selected VISA mainly because that's the one I'm used to. I've never had an issue with them either. 

They're probably the greatest "points" card if you're into that kind of thing. I will admit they're also seen as kind of a status symbol and novelty item (they're made of metal and require an above-average income/credit score), which is why I may have been more leaning towards it as a premium card than over it's about-equal alternative Chase Sapphire for example. They're also known for excellent customer service and benefits, and are arguably the greatest travel card. Nowadays however they're accepted basically everywhere in the states, and also in foreign countries now. Trying to build up points to fund a decent amount of traveling in my 20s.

I also enjoy the dichotomy of having one of the premium cards on the market and having Discover (which is generally associated with poor/young people) as my two main cards.

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Also shoutout to the chads without cards/scores. Not having a credit score doesn't lock you out of anything. Still very possible to buy a house via manual underwriting and etc. No credit is absolutely better than bad credit. No shame in avoiding debt. Debt in general is the number one thing that keeps people in poverty in this country.

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2 minutes ago, DakotaHale said:

Also shoutout to the chads without cards/scores. Not having a credit score doesn't lock you out of anything. Still very possible to buy a house via manual underwriting and etc. No credit is absolutely better than bad credit. No shame in avoiding debt. Debt in general is the number one thing that keeps people in poverty in this country.

Because of my student loan debt and my former credit card debt and dental debt, I'm kind of debt-phobic, almost to the point of not ever wanting to have credit cards. I never borrow money or ever seek loans either. I paid off the credit card debt, which was like $5,000 or something. My dental care debt was about $1,000. These two figure may not seem like a lot, but this was during a time I was barely paying my rent and bills and eating only one and a half times a day. I ended up using 50% of my bank account to pay off the dental debt the day before the interest was going to go from 0% to something pretty high. I couldn't really afford it, but I also didn't want to be stressed out with the interest accruing. My student loan debt is just over $100k. Biden's relief will knock this down to about $80k. I have no clue how much I've paid. Half of what I owe is due to interest. I don't expect to ever pay it off, not because I refuse to (as you know I don't care about money), it's just that it's sort of ballooned out reach. I've never missed a payment. Interest is higher than my incom-based repayments, so it just increases. I'm not in as bad of a situation as some. I hear of a lot of people that borrowed, say $50k. Have paid back $50k, but owe like $150k or something like that. A lot of people with upper-level degrees, law degrees, or medical degrees aren't having kids because they're in debt when they are at the age for having kids (25 to 45, especially women). Education costs in this country is a fiasco. If I make at least $100k on AMPU, I'm going to pay it all off so I won't have this millstone on my neck anymore. I'd probably have a 20 year old kid by now if not for student loans. 

 

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3 hours ago, vcczar said:

it's just that it's sort of ballooned out reach. I've never missed a payment. Interest is higher than my incom-based repayments, so it just increases. 

IIRC when Biden signed his student debt relief he also made it so as long as you're making income-based repayments, any interest above that amount is covered by the govt. Which, IMO, is a better policy than the debt relief, since it helps solve the bigger issue of debt being impossible to pay off.

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56 minutes ago, pilight said:

Any real solution to student debt will have to look to the causes of the issue rather than just palliative measures like the current debt relief proposals.

The cause is the expense of college and the lack of well-paying jobs that make taking on the debt affordable to pay off. Combating the causes needs attention but it’s something that will be much more difficult, much more expensive, and much slower in showing any results than the debt relief proposals. I’d personally like the debt relief tied in with these new proposals. I’d probably have a permanent freeze on loan payments until an education reform mega package is crafted that prevents such a debt pandemic from happening again. 

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On 11/25/2022 at 7:12 PM, DakotaHale said:

They're probably the greatest "points" card if you're into that kind of thing. I will admit they're also seen as kind of a status symbol and novelty item (they're made of metal and require an above-average income/credit score), which is why I may have been more leaning towards it as a premium card than over it's about-equal alternative Chase Sapphire for example. They're also known for excellent customer service and benefits, and are arguably the greatest travel card. Nowadays however they're accepted basically everywhere in the states, and also in foreign countries now. Trying to build up points to fund a decent amount of traveling in my 20s.

I also enjoy the dichotomy of having one of the premium cards on the market and having Discover (which is generally associated with poor/young people) as my two main cards.

Hey my Apple Card is also metal! haha

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