Quote:
Originally Posted by Run Silent
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.
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Why cancel the card though? Why not use credit cards for their perks and benefits and pay the balance in full each month instead? In that sense, it's not exactly "borrowing money" like carrying a balance or taking out a conventional loan.