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Thread: Bills and Credit Cards

  1. Senior Member
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    #11
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    My uncle pays for literally everything on his credit card and just pays it all off at the month so he doesn't rack up any interest. This allows him to get sooooo many air miles they fly a lot and still have a ton to spare like when they kindly paid for my entire airfare to see DF he graduate basic using their miles. However you have to be VERY careful not to overspend. Just keep track of everything you're charging and make sure you'll have enough money to pay that off.

    I also had a teacher in high school who was paying off his and his wife's college loans without all the interest by paying the whole thing on a credit card when they have a deal like fort 6 months are interest free. As soon as that period was about to end he would switch to a new credit card with a no interest period and pay off the previous card with the new one. This is very dangerous though because if he ever couldn't find a credit with no interest for whatever time he would start accumulating interest on the tens of thousands of dollars on the card and that would be messy.
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    #12
    Quote Originally Posted by Sabrina22LE View Post
    My uncle pays for literally everything on his credit card and just pays it all off at the month so he doesn't rack up any interest. This allows him to get sooooo many air miles they fly a lot and still have a ton to spare like when they kindly paid for my entire airfare to see DF he graduate basic using their miles. However you have to be VERY careful not to overspend. Just keep track of everything you're charging and make sure you'll have enough money to pay that off.

    I also had a teacher in high school who was paying off his and his wife's college loans without all the interest by paying the whole thing on a credit card when they have a deal like fort 6 months are interest free. As soon as that period was about to end he would switch to a new credit card with a no interest period and pay off the previous card with the new one. This is very dangerous though because if he ever couldn't find a credit with no interest for whatever time he would start accumulating interest on the tens of thousands of dollars on the card and that would be messy.
    This is one of the stupidest financial ideas I have ever heard. I can't believe he's a teacher, hopefully not of personal finance.
  3. In vino veritas
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    #13
    I pay literally everything with my AMEX or Visa (mostly AMEX, I just keep the visa because Ive had it so long so my credit score is bangin with it). Then, at the end of every month, I pay off my AMEX in full.
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    #14
    Quote Originally Posted by PaUSMC View Post
    This is one of the stupidest financial ideas I have ever heard. I can't believe he's a teacher, hopefully not of personal finance.
    God yes, especially because that destroys your credit.
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    #15
    Quote Originally Posted by PaUSMC View Post
    This is one of the stupidest financial ideas I have ever heard. I can't believe he's a teacher, hopefully not of personal finance.
    Yes, I can't believe he's comfortable with taking that much of a risk. That is a great way to get yourself in a major hole. He taught calculus but he would often do life lessons during the class and told us that gem right after telling us how dangerous credit cards can be if you aren't responsible....
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