Quote:
Originally Posted by will76
I have a rule I live by, I always pay cash for expenses (tvs, furniture, even cars,boats etc..) and I always borrow money when it comes to investments.
I was talking about making money with the banks money which can only happen when you borrow money to use it on an investment (income producing property). I paid off and cut up credit cards several years ago. If i am not liquid when it comes to buying an expense and i dont have the cash on hand, I don't buy it. .
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I have at least a dozen credit cards. IMO, they are the best way to spend "cash". I use the ones with rebates or rewards and pay them in full every month. None has an annual fee. I don't even know what the interest rates are on them since I've never paid interest. When one comes out with a 0% rate I use it exclusively until it tops out then pay it off right before the 0% expires.
Purchasing with credit cards gives you more benefits - you have more pull with getting satisfaction with a company when you have a chargeback you can put into process. In addition, many cards double the warranty on products you purchase with them and carry additional insurance when you rent a car.
Yes, there are people who can't handle credit cards, but personally I've found them VERY advantageous in comparison to cash over the years
I'm also a BIG fan of 0% purchases. Just make sure to pay it off WITH A RECEIPT a month before it's due and put your cash into a savings account until then
