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stop using card that must revolve? (rewards)


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also though i know i dont owe anyone an explanation, i have done well lately financially overall and paid cash (though all my rewards cards of course) for a very very nice cruise which is a lifetime dream ive always wanted while i'm still healthy. so yes some other things ill be paying interest on but hey, you guys can sit here on the forum with your negativity while my butler brings me my favorite drinks and desserts from all over the ship so i can enjoy them in my hot tub in my suite :yu::yahoo::dance::clapping:

This is one of the most ridiculous posts I've read lately.

 

Post BK, you're doing well financially, went on a cruise with a butler, yet you have maxed out cards and are looking for answers on how to carry an additional $800 of revolving debt.

Like I said. :rofl:

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i'm starting to believe no one really knows the math part of the problem. i really tried to make it easy to understand. do you need more information perhaps? i didnt think it would be this difficult but i guess i've stumped the forum. sigh

 

as i tell a 7 year old. if you just cleaned up your room it would take the same amount of time doing that as you could have fighting about cleaning the room. so just clean your room.

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If you find yourself having to revolve a CC using a debit card instead is not optimal. Ever. By definition if you have a debit card you have funds in an account. This process demonstrates why.

 

Use the CC, get the rewards, and make a CC card payment (instead of the debit card withdrawal) the same day. Since interest charges are calculated on a daily balance basis you would wind up paying exactly the same extra in interest. The rewards are gravy that you wouldn't get using a debit card.

 

As a practical matter it makes no sense to ever use a debit card in lieu of a credit card. While one can make a good argument that having a minimal cash cushion can justify revolving a small balance at times using a debit card depletes the cash cushion. If one is going to do that one should just pay the credit card instead.

 

It's also good to remember that whenever a balance is being revolved, time matters. Make payments early whenever you have the funds. Waiting until the month end has significant extra interest costs.

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i'm starting to believe no one really knows the math part of the problem. i really tried to make it easy to understand. do you need more information perhaps? i didnt think it would be this difficult but i guess i've stumped the forum. sigh

 

as i tell a 7 year old. if you just cleaned up your room it would take the same amount of time doing that as you could have fighting about cleaning the room. so just clean your room.

 

Except no one here is your kid and you don't get to tell them what to do. Hopefully someone else is involved in the 7 year old's life to teach them financial responsibility/literacy.

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My answer would be to find out about the no interest deal with Cap 1 and continue using the Cap 1 for the gas purchases.

If he can't use the Cap 1 then use another cc or get another cc with rewards for the future gas purchases.

But don't carry any new balances as it appears 2 cards may be near maxed out.

 

And if dead set on using the debit card, don't. Carry cash and pay the cashier.

 

thanks for the assist, in both ways. i belong to another forum where they are much worse and i'm very good at ignoring the trolls that look down on you from above. the woosies here rate about a 1.5 out of 10 compared to what else i've had to do deal with. even if i get in the position where i'm as wealthy as them i will never look down on the less fortunate and make fun of them. ill try to help them instead or at least refrain from smart flowers comments.

 

maybe ill email cap and ask about what programs they have available. my discover has the same interest rate with the 800 balance i mentioned above so i could charge there as well and get the 2% back 1st year to help me out.

 

my thoughts on cap 1 interest were this and i dont know if this is correct which is why i am asking for help here. 1600 balance ( i was mistaken about the balance before) would be charged interest in this manner (1600 x .20 / 12) = 26 interest but i wasnt sure i was correct because i know there are all kinds of ways of computing interest. then if i get 300 in new charges and even if i PIF those new charges, that is 300 x 1.5 = 4.50 rewards and 300 x.20/12 = 5 interest which is a wash. but is all this correct. i have no clue.

 

regarding debit cards i've used them during BK to pay for all my expenses including gas and the station where i get gas is out in the boonies and the pumps are very easy to tell if they've been tampered with. unless they have a key of course.

 

also though i know i dont owe anyone an explanation, i have done well lately financially overall and paid cash (though all my rewards cards of course) for a very very nice cruise which is a lifetime dream ive always wanted while i'm still healthy. so yes some other things ill be paying interest on but hey, you guys can sit here on the forum with your negativity while my butler brings me my favorite drinks and desserts from all over the ship so i can enjoy them in my hot tub in my suite :yu::yahoo::dance::clapping:

You're making horrible financial decisions.

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If you find yourself having to revolve a CC using a debit card instead is not optimal. Ever. By definition if you have a debit card you have funds in an account. This process demonstrates why.

 

Use the CC, get the rewards, and make a CC card payment (instead of the debit card withdrawal) the same day. Since interest charges are calculated on a daily balance basis you would wind up paying exactly the same extra in interest. The rewards are gravy that you wouldn't get using a debit card.

 

As a practical matter it makes no sense to ever use a debit card in lieu of a credit card. While one can make a good argument that having a minimal cash cushion can justify revolving a small balance at times using a debit card depletes the cash cushion. If one is going to do that one should just pay the credit card instead.

 

It's also good to remember that whenever a balance is being revolved, time matters. Make payments early whenever you have the funds. Waiting until the month end has significant extra interest costs.

 

maybe i'm jumbling threads but i swear i read somewhere that there are red flags setup if you pay a CC 'too many' times in a month. is this so? even if i sent electronic payments to the CC company every day it takes a day. not much interest to worry about really. just noting it. i do fill up about 3x a week.

 

ty for taking the time and this is the problem i'm having. i can pay my gas bill in cash but i cannot pay the X dollars that are on the CC now already. so if i charge 300 in gas every month and pay it off, is it not true my balance will never go down (of course this is just an exercise as id definitely be paying more than the gas bill on the monthly statement).

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i'm starting to believe no one really knows the math part of the problem. i really tried to make it easy to understand. do you need more information perhaps? i didnt think it would be this difficult but i guess i've stumped the forum. sigh

 

as i tell a 7 year old. if you just cleaned up your room it would take the same amount of time doing that as you could have fighting about cleaning the room. so just clean your room.

Except no one here is your kid and you don't get to tell them what to do. Hopefully someone else is involved in the 7 year old's life to teach them financial responsibility/literacy.

 

 

true. and i never could change any bully's mind in the past. they keep on coming because they love the conflict and thrive on it. i admit it you will win that battle with confrontation with strangers on the internet. put another star on your bedpost and feel proud for all the negative smart flowers comments with no measurable helpfulness. impossible for you not to continue the negativity as it's ingrained in your being obviously. you must be miserable in real life and i do know so many of your kind and thankfully can stay away from them. unfortunately impossible on the internet. but you wont ever stop me from asking my sincere questions.

 

also i do wonder if you know the answers to any of my questions or just like to thread crap. why do you even waste your time typing here when it's obvious you have no designs on helping. i have a sincere question and want to understand the math and make a decision. have you ever NOT known anything and had to ask? if so. i hope people helped you or were you talked down to and you are trying to get back via your unwarranted negativity to me? i find that people that have been hurt in the past usually try to hurt others and it's obvious you are trying to do that by your persistent comments. if you have nothing positive to say, it's been said you should say nothing. or does saying all you do make you feel better and big man on campus for belittling my question. i really hope you never find your way to the BK board. i cannot even imagine how degrading you would be to all those that filed and fell on hard times.

 

oh and thankfully the 7 year old still has a mind that can be correctly formed. :)

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i'm starting to believe no one really knows the math part of the problem. i really tried to make it easy to understand. do you need more information perhaps? i didnt think it would be this difficult but i guess i've stumped the forum. sigh

 

as i tell a 7 year old. if you just cleaned up your room it would take the same amount of time doing that as you could have fighting about cleaning the room. so just clean your room.

Except no one here is your kid and you don't get to tell them what to do. Hopefully someone else is involved in the 7 year old's life to teach them financial responsibility/literacy.

true. and i never could change any bully's mind in the past. they keep on coming because they love the conflict and thrive on it. i admit it you will win that battle with confrontation with strangers on the internet. put another star on your bedpost and feel proud for all the negative smart flowers comments with no measurable helpfulness. impossible for you not to continue the negativity as it's ingrained in your being obviously. you must be miserable in real life and i do know so many of your kind and thankfully can stay away from them. unfortunately impossible on the internet. but you wont ever stop me from asking my sincere questions.

 

also i do wonder if you know the answers to any of my questions or just like to thread crap. why do you even waste your time typing here when it's obvious you have no designs on helping. i have a sincere question and want to understand the math and make a decision. have you ever NOT known anything and had to ask? if so. i hope people helped you or were you talked down to and you are trying to get back via your unwarranted negativity to me? i find that people that have been hurt in the past usually try to hurt others and it's obvious you are trying to do that by your persistent comments. if you have nothing positive to say, it's been said you should say nothing. or does saying all you do make you feel better and big man on campus for belittling my question. i really hope you never find your way to the BK board. i cannot even imagine how degrading you would be to all those that filed and fell on hard times.

 

oh and thankfully the 7 year old still has a mind that can be correctly formed. :)

Nobody is bullying you.

 

You are making poor financial decisions and have obviously not learned from your BK.

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i'm starting to believe no one really knows the math part of the problem. i really tried to make it easy to understand. do you need more information perhaps? i didnt think it would be this difficult but i guess i've stumped the forum. sigh

 

as i tell a 7 year old. if you just cleaned up your room it would take the same amount of time doing that as you could have fighting about cleaning the room. so just clean your room.

Except no one here is your kid and you don't get to tell them what to do. Hopefully someone else is involved in the 7 year old's life to teach them financial responsibility/literacy.

true. and i never could change any bully's mind in the past. they keep on coming because they love the conflict and thrive on it. i admit it you will win that battle with confrontation with strangers on the internet. put another star on your bedpost and feel proud for all the negative smart flowers comments with no measurable helpfulness. impossible for you not to continue the negativity as it's ingrained in your being obviously. you must be miserable in real life and i do know so many of your kind and thankfully can stay away from them. unfortunately impossible on the internet. but you wont ever stop me from asking my sincere questions.

 

also i do wonder if you know the answers to any of my questions or just like to thread crap. why do you even waste your time typing here when it's obvious you have no designs on helping. i have a sincere question and want to understand the math and make a decision. have you ever NOT known anything and had to ask? if so. i hope people helped you or were you talked down to and you are trying to get back via your unwarranted negativity to me? i find that people that have been hurt in the past usually try to hurt others and it's obvious you are trying to do that by your persistent comments. if you have nothing positive to say, it's been said you should say nothing. or does saying all you do make you feel better and big man on campus for belittling my question. i really hope you never find your way to the BK board. i cannot even imagine how degrading you would be to all those that filed and fell on hard times.

 

oh and thankfully the 7 year old still has a mind that can be correctly formed. :)

Nobody is bullying you.

 

You are making poor financial decisions and have obviously not learned from your BK.

Some never learn.

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i'm starting to believe no one really knows the math part of the problem. i really tried to make it easy to understand. do you need more information perhaps? i didnt think it would be this difficult but i guess i've stumped the forum. sigh

 

as i tell a 7 year old. if you just cleaned up your room it would take the same amount of time doing that as you could have fighting about cleaning the room. so just clean your room.

Except no one here is your kid and you don't get to tell them what to do. Hopefully someone else is involved in the 7 year old's life to teach them financial responsibility/literacy.

true. and i never could change any bully's mind in the past. they keep on coming because they love the conflict and thrive on it. i admit it you will win that battle with confrontation with strangers on the internet. put another star on your bedpost and feel proud for all the negative smart flowers comments with no measurable helpfulness. impossible for you not to continue the negativity as it's ingrained in your being obviously. you must be miserable in real life and i do know so many of your kind and thankfully can stay away from them. unfortunately impossible on the internet. but you wont ever stop me from asking my sincere questions.

 

also i do wonder if you know the answers to any of my questions or just like to thread crap. why do you even waste your time typing here when it's obvious you have no designs on helping. i have a sincere question and want to understand the math and make a decision. have you ever NOT known anything and had to ask? if so. i hope people helped you or were you talked down to and you are trying to get back via your unwarranted negativity to me? i find that people that have been hurt in the past usually try to hurt others and it's obvious you are trying to do that by your persistent comments. if you have nothing positive to say, it's been said you should say nothing. or does saying all you do make you feel better and big man on campus for belittling my question. i really hope you never find your way to the BK board. i cannot even imagine how degrading you would be to all those that filed and fell on hard times.

 

oh and thankfully the 7 year old still has a mind that can be correctly formed. :)

Nobody is bullying you.

 

You are making poor financial decisions and have obviously not learned from your BK.

 

Two BKs, I believe.

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On your $800 debt at 20% you will pay about $13.33 in interest month one.

 

On your $300 gas spending you will $4.50 in cash back.

 

That answers your original question I believe. Either way, your endgame is a net negative on your wallet and more debt.

 

Also, for your own good stop taking cruises if you can't PIF.

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i'm starting to believe no one really knows the math part of the problem. i really tried to make it easy to understand. do you need more information perhaps? i didnt think it would be this difficult but i guess i've stumped the forum. sigh

 

as i tell a 7 year old. if you just cleaned up your room it would take the same amount of time doing that as you could have fighting about cleaning the room. so just clean your room.

Except no one here is your kid and you don't get to tell them what to do. Hopefully someone else is involved in the 7 year old's life to teach them financial responsibility/literacy.

true. and i never could change any bully's mind in the past. they keep on coming because they love the conflict and thrive on it. i admit it you will win that battle with confrontation with strangers on the internet. put another star on your bedpost and feel proud for all the negative smart flowers comments with no measurable helpfulness. impossible for you not to continue the negativity as it's ingrained in your being obviously. you must be miserable in real life and i do know so many of your kind and thankfully can stay away from them. unfortunately impossible on the internet. but you wont ever stop me from asking my sincere questions.

 

also i do wonder if you know the answers to any of my questions or just like to thread crap. why do you even waste your time typing here when it's obvious you have no designs on helping. i have a sincere question and want to understand the math and make a decision. have you ever NOT known anything and had to ask? if so. i hope people helped you or were you talked down to and you are trying to get back via your unwarranted negativity to me? i find that people that have been hurt in the past usually try to hurt others and it's obvious you are trying to do that by your persistent comments. if you have nothing positive to say, it's been said you should say nothing. or does saying all you do make you feel better and big man on campus for belittling my question. i really hope you never find your way to the BK board. i cannot even imagine how degrading you would be to all those that filed and fell on hard times.

 

oh and thankfully the 7 year old still has a mind that can be correctly formed. :)

Nobody is bullying you.

 

You are making poor financial decisions and have obviously not learned from your BK.

Two BKs, I believe.

Some people really don't learn.

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If you find yourself having to revolve a CC using a debit card instead is not optimal. Ever. By definition if you have a debit card you have funds in an account. This process demonstrates why.

 

Use the CC, get the rewards, and make a CC card payment (instead of the debit card withdrawal) the same day. Since interest charges are calculated on a daily balance basis you would wind up paying exactly the same extra in interest. The rewards are gravy that you wouldn't get using a debit card.

 

As a practical matter it makes no sense to ever use a debit card in lieu of a credit card. While one can make a good argument that having a minimal cash cushion can justify revolving a small balance at times using a debit card depletes the cash cushion. If one is going to do that one should just pay the credit card instead.

 

It's also good to remember that whenever a balance is being revolved, time matters. Make payments early whenever you have the funds. Waiting until the month end has significant extra interest costs.

 

maybe i'm jumbling threads but i swear i read somewhere that there are red flags setup if you pay a CC 'too many' times in a month. is this so? even if i sent electronic payments to the CC company every day it takes a day. not much interest to worry about really. just noting it. i do fill up about 3x a week.

 

ty for taking the time and this is the problem i'm having. i can pay my gas bill in cash but i cannot pay the X dollars that are on the CC now already. so if i charge 300 in gas every month and pay it off, is it not true my balance will never go down (of course this is just an exercise as id definitely be paying more than the gas bill on the monthly statement).

 

Not a problem unless you are making multiple large payments relative to your credit line and/or your card is very new.

 

Basically, if you use a CC instead of paying cash or with a debit card then put that money on the CC ASAP you will be further ahead from the rewards v the small amount of interest accumulated during the small number of days before you put the money back into the card account.

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i'm starting to believe no one really knows the math part of the problem. i really tried to make it easy to understand. do you need more information perhaps? i didnt think it would be this difficult but i guess i've stumped the forum. sigh

 

as i tell a 7 year old. if you just cleaned up your room it would take the same amount of time doing that as you could have fighting about cleaning the room. so just clean your room.

Except no one here is your kid and you don't get to tell them what to do. Hopefully someone else is involved in the 7 year old's life to teach them financial responsibility/literacy.

 

 

true. and i never could change any bully's mind in the past. they keep on coming because they love the conflict and thrive on it. i admit it you will win that battle with confrontation with strangers on the internet. put another star on your bedpost and feel proud for all the negative smart flowers comments with no measurable helpfulness. impossible for you not to continue the negativity as it's ingrained in your being obviously. you must be miserable in real life and i do know so many of your kind and thankfully can stay away from them. unfortunately impossible on the internet. but you wont ever stop me from asking my sincere questions.

 

also i do wonder if you know the answers to any of my questions or just like to thread crap. why do you even waste your time typing here when it's obvious you have no designs on helping. i have a sincere question and want to understand the math and make a decision. have you ever NOT known anything and had to ask? if so. i hope people helped you or were you talked down to and you are trying to get back via your unwarranted negativity to me? i find that people that have been hurt in the past usually try to hurt others and it's obvious you are trying to do that by your persistent comments. if you have nothing positive to say, it's been said you should say nothing. or does saying all you do make you feel better and big man on campus for belittling my question. i really hope you never find your way to the BK board. i cannot even imagine how degrading you would be to all those that filed and fell on hard times.

 

oh and thankfully the 7 year old still has a mind that can be correctly formed. :)

 

 

800 x (.2 x .083) = 13.28

 

300 x .015 = 4.5

 

There are your 7th grade math equations.

 

I never said anything about you as a person, just that you are financially incompetent/illiterate. Saying you paid for a cruise in cash when you are carrying revolving debt is just something made up in your feeble, financially illiterate mind. What you did in reality is take money from your debt servicing funds and applied them to a cruise instead.

 

Your response to me shows though that you are really just a weak minded, victim mentality loser.

 

You have three paths to take with your child, because as you said there is still hope for them unlike you.

 

1. You take basic 7th grade math at a community college so you can teach them basic math skills. You take a basic personal finance course at a community college so you can teach them basic personal finance life skills. And you sign them up for martial arts classes where they can learn self confidence, self control and self esteem. The outside martial arts classes are a must because you are incapable now and forever of instilling these traits in your child just as your parents were incapable of instilling these traits in you.

 

2. You continue to raise a mirror image of yourself

 

3. You let someone else raise your child

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Guys - I think he gets your point, he has made/is making poor financial decisions. Lets not continue to beat the dead horse.

 

OP - Carrying/using cash isn't the best option, if only because should you lose it or something else happens you are pretty much out of luck. If it is just gas you need to purchase with the CC, why don't you buy a gift card to the local gas station using cash then just use that, or buy some prepaid visa gift cards. Another option would be if you have a secondary bank account to use that accounts debit card and only keep a limited amount of cash in that account to minimize exposure.

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