Discover Card 1% Cashback
- Thread starter bobh33
- Start date
Really? While there are certainly a large number of people who carry balances, there are also a number of people who pay off their balance each month. So rewards are hardly a "gimmick"...in fact, you'd almost be stupid NOT to be using a rewards program.
Ok Dave Ramsey. Perhaps people with credit cards have higher incomes? I haven't carried a balance on a credit card in 8+ years. There are some people in this world that can practice self-control and don't need to divvy up cash in envelopes.
I guess that free flight I got was a gimmick? I mean we were going to buy the piano anyway.
"almost". But not quite. I just don't spend that much on my one remaining emergency use credit card.
I have yet to see a correlation with credit cards and incomes. Though I HAVE seen a correlation between credit cards, high incomes, but inability to balance a budget. Not always. But often enough to note that the gimmick works, statistically. The first time you carry a balance, or pay a cc fee, I imagine it eats into the "reward" pretty quickly. But you're right; "rewards" pretty much victimize stupid people who cannot do math. Kind of like the lottery.
lol.
Yeah, it's not really a bargain if you don't need it in the first place. Or it was so overpriced before it went "on sale" it's now close to what it's worth. My wife doesn't get these concepts.
Agree to an extent, but a great thing to take advantage of for the savvy. We use our card for everything to get the 1%, but pay it off each month--never carry a balance and treat it as cash. The 1% adds up.
On the other side, reward cards annoy me, as businesses pay for the rewards through higher fees. Argh.
mint.com has some good credit card suggestions.
The bigger overall problem -- rewards are really paid by the merchants who accept the credit card. Debit cards don't cost the merchant much at all -- where credit cards can cost a ton. The credit card company gets you to use their credit card by what is effectively legal kickbacks.
The bigger overall problem -- rewards are really paid by the merchants who accept the credit card. Debit cards don't cost the merchant much at all -- where credit cards can cost a ton. The credit card company gets you to use their credit card by what is effectively legal kickbacks.
Anybody else have any experience with this card? I started looking into it after seeing it in this thread and it looks like a pretty good deal. I already have an account with Fidelity, so getting them to toss in 2% of my CC purchases every month looks like a nice option.
