The Cookout

Invincible1914 · 8/19/21

About 4 years ago, I had to address the fact that my budgeting skills sucked. I basically had no budget. I just spent how I felt. I would at least check my account balance periodically, but I was stuck in a cycle of overdrafting my account and rushing to switch from savings to avoid the overdraft fee. So basically outside of direct deposit into savings I was always ending up broke and my money management was sloppy.

I had to change it up. I did my online research and got put onto using a rewards credit card for every single purchase. The catch is you have to keep a zero balance. I zeroed out all of my credit cards and haven’t used a debit card other than at the atm since.

My question is who else on this site is doing this. I wondering if we can share ideas on techniques and what’s the best card to use.

Jay · 8/19/21

I do this every month with my Discover card and get really good cash back because of it. I just basically pay for everything with my card and then the only debit out my account is to pay the Discover off. It works very well and if I ever need a chargeback I know they gon go hard because it’s their money not mine.

Bruh Man · 8/19/21

I stay away from debt, I made some real bad choices in my 20’s that had my credit score looking like the year Rome invaded Egypt. I get the concept but Im not disciplined enough to play with credit.

Invincible1914 · 8/19/21

Jay said:
I do this every month with my Discover card and get really good cash back because of it. I just basically pay for everything with my card and then the only debit out my account is to pay the Discover off. It works very well and if I ever need a chargeback I know they gon go hard because it’s their money not mine.

Thats another reason. I use the Amazon Prime Visa card, but I just got the Verizon Card and using that. I was thinking I could snatch up a free phone every year, but im probably going to go back to the Amazon card. I dont spend that much. I probably rack up $30 or so each month in Rewards. It’s really about protecting my checking and savings account though.

Jay · 8/19/21

Invincible1914 said:
Thats another reason. I use the Amazon Prime Visa card, but I just got the Verizon Card and using that. I was thinking I could snatch up a free phone every year, but im probably going to go back to the Amazon card. I dont spend that much. I probably rack up $30 or so each month in Rewards. It’s really about protecting my checking and savings account though.

Yeah I remember being broke and needing to protect every cent in my account…I keep it that way now and try to minimize any ACHs coming out of it.

Invincible1914 · 8/19/21

Bruh Man said:
I stay away from debt, I made some real bad choices in my 20’s that had my credit score looking like the year Rome invaded Egypt. I get the concept but Im not disciplined enough to play with credit.

My credit score was in the 500s when I started now it’s at around 680. I feel like I’m more disciplined using credit since I’m so scared to rack up interest. I remember I used to go out and move money around so I could pay when the check came. Now I swipe the card and worry about paying the card back letter. I try to wake up early every Friday to keep track of zeroing balance. I pretty much made checking my account in the apps a habit.

Red Velvet · 8/19/21

Invincible1914 said:
My credit score was in the 500s when I started now it’s at around 680. I feel like I’m more disciplined using credit since I’m so scared to rack up interest. I remember I used to go out and move money around so I could pay when the check came. Now I swipe the card and worry about paying the card back letter. I try to wake up early every Friday to keep track of zeroing balance. I pretty much made checking my account in the apps a habit.

The interest is the silent killer when you’re making minimum payments so I totally vibe with you. I only keep my credit cards for emergencies so I have my satellite radio and other small charges billing so that they don’t close them out. BUUUT if I was playing the game like you I wouldnt make any purchases on it that I didn’t have cash for

Invincible1914 · 8/19/21

Jay said:
Yeah I remember being broke and needing to protect every cent in my account…I keep it that way now and try to minimize any ACHs coming out of it.

Keep my ACH‘s to zero. I had some bad experiences with letting companies take money right out of my bank account. Even online I try to use a virtual card to mask my credit card number if I can.

Invincible1914 · 8/19/21

Red Velvet said:
The interest is the silent killer when you’re making minimum payments so I totally vibe with you. I only keep my credit cards for emergencies so I have my satellite radio and other small charges billing so that they don’t close them out. BUUUT if I was playing the game like you I wouldnt make any purchases on it that I didn’t have cash for

I really don’t feel like I’m playing a game. I would do it this way even without the rewards stacking up.

Red Velvet · 8/20/21

Invincible1914 said:
I really don’t feel like I’m playing a game. I would do it this way even without the rewards stacking up.

Smart man.

Avenger · 8/20/21

Yeah that's what I do. Rewards cards for all of my purchases and then keep it at a 0 balance. Ever since I started doing that I've really seen the pay off!

Invincible1914 · 8/20/21

Avenger said:
Yeah that's what I do. Rewards cards for all of my purchases and then keep it at a 0 balance. Ever since I started doing that I've really seen the pay off!

That’s the way to do it. When I tell people about this strategy they look at me like I’m crazy. Like I said the rewards are just a bonus… it’s that layer of protection over my bank accounts that’s the real benefit.

Jay · 8/20/21

Invincible1914 said:
That’s the way to do it. When I tell people about this strategy they look at me like I’m crazy. Like I said the rewards are just a bonus… it’s that layer of protection over my bank accounts that’s the real benefit.

I end up sometimes with an extra $70 bucks on my Discover using this method. It’s an easy come up.

Troy · 8/20/21

Bruh Man said:
I stay away from debt, I made some real bad choices in my 20’s that had my credit score looking like the year Rome invaded Egypt. I get the concept but Im not disciplined enough to play with credit.

sometimes when you misstep you gotta readjust and get back in the game. You’re going to need credit sooner or later, it’s better to learn how to use it than to run from it.

Manta · 8/20/21

I do the opposite. I only use my debit card. That keeps me from over spending on credit cards. I"m constantly in my account so I'm always aware of my balance. I have a list of payments that come out on certain dates and I try to stay within a budget. So far so good but its not easy. Amazon is so easy to shop that I have to swear it off for every so often.

Jay · 8/21/21

Manta said:
I do the opposite. I only use my debit card. That keeps me from over spending on credit cards. I"m constantly in my account so I'm always aware of my balance. I have a list of payments that come out on certain dates and I try to stay within a budget. So far so good but its not easy. Amazon is so easy to shop that I have to swear it off for every so often.

Yes! With one-click pay it’s so easy to impulse buy! Thats why I stay off of Amazon because you can buy all types of cheap Chinese stuff and get it next day with 2 clicks. @Geoff do you have any game to impart on us?

Finesse · 8/21/21

I have a debit card myself. I have considered getting a credit card, but I would only use it if I can pay the debt off fast. I don't have the money to do that right now. But if I did, I would pay my bills as fast as I can so my credit stays good.

I haven't even used cash in years. Sometimes I get cash back, but I end up saving that and putting it in the bank when I save some of it up.

Bruh Man · 8/21/21

Troy said:
sometimes when you misstep you gotta readjust and get back in the game. You’re going to need credit sooner or later, it’s better to learn how to use it than to run from it.

Facts.

I’ll dip my toe in the water soon.

Invincible1914 · 8/21/21

Bruh Man said:
Facts.

I’ll dip my toe in the water soon.

Honestly, its the fastest way to build your credit back up. Its crazy how my credit limit keeps going up, but I'm determined to keep it at a zero balance.

One thing to look for is once you get a card and you're using it, you will get so many credit card offers and loan offers spamming your mailbox. These companies look so suspect.

Jay · 8/21/21

Invincible1914 said:
Honestly, its the fastest way to build your credit back up. Its crazy how my credit limit keeps going up, but I'm determined to keep it at a zero balance.

One thing to look for is once you get a card and you're using it, you will get so many credit card offers and loan offers spamming your mailbox. These companies look so suspect.

Yes! That's so annoying...I get hella spam mail every day from companies trying to offer money.

Red Velvet · 8/21/21

Jay said:
Yes! That's so annoying...I get hella spam mail every day from companies trying to offer money.

$250 Secured Credit Card offers huh Jay?

Will Smith Haha

Jay · 8/21/21

Red Velvet said:
$250 Secured Credit Card offers huh Jay?

You think you’re funny….should have left you at SOHH where I found you.

Red Velvet · 8/21/21

Jay said:
You think you’re funny….should have left you at SOHH where I found you.

Negro please. nialongdisbelief

Invincible1914 · 8/22/21

Jay said:
You think you’re funny….should have left you at SOHH where I found you.

You better treat @Red Velvet right or there gonna be some consequences and repercussions around here

Jay · 8/22/21

@HennyPapi

Invincible1914 said:
You better treat @Red Velvet right or there gonna be some consequences and repercussions around here

Click to expand...

I’m a boxer so bring it.

snoopdisgust

Invincible1914 · 8/22/21

Jay said:
@HennyPapi

I’m a boxer so bring it.

snoopdisgust

So you can fight for real?

🙁

Jay · 8/22/21

Invincible1914 said:
So you can fight for real?

🙁

Click to expand...

Yeah, I don’t play.

Red Velvet · 8/22/21

Invincible1914 said:
You better treat @Red Velvet right or there gonna be some consequences and repercussions around here

Click to expand...

Glad to see there’s still some gentlemen in this world.

Invincible1914 · 8/22/21

Red Velvet said:
Glad to see there’s still some gentlemen in this world.

Naw boo, I ran away. He can throw hands for real,

Red Velvet · 8/22/21

Invincible1914 said:
Naw boo, I ran away. He can throw hands for real,

We need more smilies there isn’t one that can properly express my disappointment.

Manta · 8/23/21

I'll tell ya what gets on my nerves. I got 2 to 3 letters a day in the mail (usps) saying that I'm pre-approved for 10K but its those loan places. Not necessarily pay day loans but very high fees. The interest rate is only a bit high but the fees in the disclosure are crazy. And I KNOW that the 10K is just bait. It gets on my nerves because its just so many that I get from the same places. IDK just thought I'd rant about that.

Jay · 8/23/21

Manta said:
I'll tell ya what gets on my nerves. I got 2 to 3 letters a day in the mail (usps) saying that I'm pre-approved for 10K but its those loan places. Not necessarily pay day loans but very high fees. The interest rate is only a bit high but the fees in the disclosure are crazy. And I KNOW that the 10K is just bait. It gets on my nerves because its just so many that I get from the same places. IDK just thought I'd rant about that.

Yeah you borrow $10k and pay back $30k. tracymorganlol

Those places should be outlawed. I remember when I fell on some very rough times and I got a title loan...talk about a deal with the devil. I remember I borrowed $1500 and I had already paid back $2000 and still owed like $1000 more...it is crazy how terrible these loans are. I was thinking to myself one day "I have already made them more than whole but if I missed a payment they can STILL take my car"....how the hell is that legal?

eclipsed · 8/24/21

When I was younger, I ended up with some debt because I lost my job. My credit score got fisted because of it so since then, I haven't used credit. I got my score up by having a monthly cable bill, car bill, and phone bill. It took a lot longer than had I just went back to cards but I feel more secure knowing I don't have a mound of debt weighing me down.

Invincible1914 · 8/24/21

Jay said:
Yeah you borrow $10k and pay back $30k. tracymorganlol

Those places should be outlawed. I remember when I fell on some very rough times and I got a title loan...talk about a deal with the devil. I remember I borrowed $1500 and I had already paid back $2000 and still owed like $1000 more...it is crazy how terrible these loans are. I was thinking to myself one day "I have already made them more than whole but if I missed a payment they can STILL take my car"....how the hell is that legal?

Yeah, those things should be illegal. The worst job you can ever get is working one of these companies as a “debt collector” Everybody I know who’s done it don’t seem to like their job at all.

Jay · 8/24/21

Invincible1914 said:
Yeah, those things should be illegal. The worst job you can ever get is working one of these companies as a “debt collector” Everybody I know who’s done it don’t seem to like their job at all.

Just imagine setting up a repo on a single mom, check to check, borrowed $1000, paid back $2500, and if she loses her car she’ll lose her job…yeah I’d hate that too.

educatedman23 · 6/21/22

Jay said:
I do this every month with my Discover card and get really good cash back because of it. I just basically pay for everything with my card and then the only debit out my account is to pay the Discover off. It works very well and if I ever need a chargeback I know they gon go hard because it’s their money not mine.

I pay for most things with a credit card, and pay with my checking account. I do use cash for some things that I do not want to be tracked. Won't say for what though. Plus some events such as low level football games I go to only accept cash. I love my Discover credit card as well. That cash back comes in handy. That is the first card I pay off to ensure it is paid.

Heatice · 7/15/22

As much as the use of credit card looks appealing because you can be able to spend money when you don't have it, it's something that I wouldn't fall for at all because I know very well how capable it is in getting you into debts that might be very difficult for you to pay up. I rather make use of my debit cards and spend what I know that I have.

educatedman23 · 7/15/22

Heatice said:
As much as the use of credit card looks appealing because you can be able to spend money when you don't have it, it's something that I wouldn't fall for at all because I know very well how capable it is in getting you into debts that might be very difficult for you to pay up. I rather make use of my debit cards and spend what I know that I have.

I use my Discover card. I get cash back. I only charge the things on it that I would've used my debit card for. I agree that credit cards can be a trap if they are not used correctly.

Sapphire · 7/16/22

I do a mix. I am trying to build up credit so I need to have some cards which I mainly use for shopping for food, gas, and stuff like that. I just pay it off every month. It has been slowly raising my credit scores.

educatedman23 · 7/17/22

Sapphire said:
I do a mix. I am trying to build up credit so I need to have some cards which I mainly use for shopping for food, gas, and stuff like that. I just pay it off every month. It has been slowly raising my credit scores.

This is great news.

AChris · 7/18/22

I got in debt trouble before, and getting out of it was a struggle that I don't want to experience again. So I use my credit cards carefully and conservatively. My debit cards are my primary method of payment, and I buy gift cards for myself when I really want to restrict spending in certain areas.

Danny · 7/18/22

I make use of my credit cards but it's only on cases of emergencies that I have to pull them out. I feel like it's the best way for me to get ahead of being in debt for overusing it. I still have more than enough to spend from on my debit card.

educatedman23 · 7/28/22

Red Velvet said:
$250 Secured Credit Card offers huh Jay?

I get these offers all the time.

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