Nick writes,
Nick writes, “THE WORLD IS EVIL (that’s why you use credit cards).” So true, and it’s not a question, but we thought we’d do a show on it anyway. There is a lot of evil in the world Nick, but you and me and credit cards, we can make it a better place.
Now before I go into things in depth, I should say be responsible, if you buy stuff you pay stuff you can’t pay for at the end of the month you should just stay away from credit cards entirely. Credit cards used irresponsibly are evil. They’re like a two edged sword, but that sword edge that cuts towards to you is a twenty one percent interest rate. Ouch. Never pay interest on a running balance. Paying interest is evil. Well if you have a running balance you might have to pay interest on it unless you have like one of those zero percent offers or something, the point is if you can avoid paying interest you should. Evil.
Now on to the good stuff, as we mentioned in “Why I Hate Pay Pay” Pay Pal is evil. One big advantage of credit cards is you can dispute fraudulent purchases. We also covered the secondary car insurance offered by most cards in rental car rally. And we covered cash back bonuses in the credit cards payback show. Three shows? We must really like these things. Yes I do.
As it turns out there are a whole bunch of advantages to using a credit card. On my little master card here the three biggest features are extended warranty, purchase assurance, and satisfaction guaranteed. Master Card and Visa have very similar features but they can vary card to card, so you might want to contact them to find out what the details are you yours. The extended warranty doubles the original warranty up to one year, so a three month warranty becomes six months, a one year becomes two years, and a three year becomes four.
Purchase assurance is useful if your item gets damaged or stolen within ninety days of purchase. Buying something that breaks the minute you get it, that’s evil. You have to fill out a police report if was stolen, and there are as always a big bunch of exceptions, like houses, and cars and. But if your brand new goes missing because someone saw it and decided to take a five finger discount, you may be able to get your credit card company to buy you a new one. Stealing is evil.
Third is satisfaction guarantee. If the item still works and you just don’t like it you can send it back even if the store won’t take it. Again there are exceptions, rules, fine print, blah blah blah blah blah. And as always your gonna have to fill out some paper work. But in the end, if your me, you make a purchase on your credit card, you get cash back on that purchase, and now it has extra insurance, theft protection, and a satisfaction guarantee, and it doesn’t cost you a thing.
My friend pointed out recently that his American Express card gives him relatively inexpensive first tier rental car insurance for under twenty five bucks. Not twenty five bucks a day, full coverage for twenty five bucks for the entire week he had the car. That’s a good deal. Rental car insurance for fifteen bucks a day, that’s evil. Like I said in the beginning, don’t spend more than you can pay off, don’t carry a running balance, but use your credit card and get the fine print about these benefits and see if you can put any of them to work for you. Paying any kind of fee for your credit card, the axis of evil. I mean a-x-i-s not a-c-c-e-s-s, two different kinds of evil.
Transcribed by: Nick F.
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15 Comments
The Lady [22]
Scott, I read the story you linked to....how terrifying! (a person shreds an application, tapes it together, fills it out, changes information and recieves a shiny new card)UNBELIEVABLE! I am truely stunned.....Johnb300m
Speaking of Evil, did you hear that North Korea is no longer in the Axis of Evil? Jeez I wonder what they did to no longer be in the Evil Club....andreacro
No wonder you get all the benefits if youre using the credit cards; WYOTK? Credit card companies get from 3-7% of any purchase you make. Imagine how many bilions of transactions happens daily. Now imagine you could get 5% out of every transaction. Now try to imagine how much money ... moreScott
I remember starting out as a young man, getting my first checking account. The nice lady at the bank offered me a $500 secured credit card. I smiled broadly and said, "No thank you. I'm pretty sure I can get an unsecured card from someone else." ... moreMeandering
I used a credit card for a big purchase and have been paying it off ever since. It was necessary, not like a Plasma TV or anything, and now thanks the the stimulus check (another topic with an episode here) that card is paid off. Yes!! Not ... moreInsaneAI
Soul Sister, That could happen, though it's not just with women. If a woman has a credit card, then the apocalypse will be a slow nickle and dime destruction. It would take a very long time and the earth would be covered in nick knacks and yard signs and ... moreLilmissgeek [22]
Best way I've found to use a credit card is as a debit card. Keep track of how much money you've spent and mentally take it out of your account. No balances, no fees, no interest, and you start building a good credit history. ^.^Soul Sister [22]
So women are deadly, and credit cards can be evil. What happens when a women has a credit card? The apocalypse?nick
bank of america offers "keep the change" step 1) open all sorts of accounts of bank of america (checking and savings) step 2) use your debit card and go buy $1.01 of gas a lot of times since bank of america will round up to the next dollar and transfer that money ... morekd
Credit cards....we got rid of our credit card debt without paying intrest....by getting 0% on balance transfers and would switch companies before the time ran up on it....so work the system its great....then STAY OUT OF DEBT!!!steph
wish i had a credit card =[ and i also wish i was in 22 =[ but not everything comes true sadly.ALLSurvivor
I just got my first credit card, yey for starting to build credit!kahrytan
American Express has an annual fee. But there is ways to waive that fee, such as signing up through Costco and paying for the costco membership with the cardedthemanly
I think that being the second to post is very evil.Mk5Fast
Sweet my first first post.