Investment BS Thread - Stocks/Futures/Mutual Funds/Bonds/Commodities/Options/ETFs/401ks/Etc

we use an app called Clear Checkbook to log all of our transactions. Once it gets up to a few hundred and we pay it (generally every 2-3 weeks between gas and groceries). We use our CC for damn near everything but have the discipline to pay them off.

 

I do the same thing. I usually get $1000+ cash back year on stuff I'd be buying anyways.

I install garage doors on the side and some times one purchase can put $100 extra in my pocket before I even start the job with 0 work done via cash back and then I pay that off the next Friday. Every Friday I check my balances and pay them off. I do have some CC debt now, but they're with new cards that I won't pay interest on till 2021 sometime; I have them on auto pay minimum until the month APR starts and then notifications in place for me to pay them off, it's a free loan.

close to 800 credit score and never paid a dime in interest. boom CC's are only as dangerous as the carrier.

 

I have heard of people buying a car with a rewards card, then just paying the card off. Not sure if that’s true but I read about it. I’d ask now if I was going to pay cash for a car.

 

depends on the dealer. I put $7K on mine for the down payment because that was the most they’d let me do. I got a crap ton of points for it lol

 

"Because this one trick this is why the credit card companies hate him"

Nah but seriously, same. Credit cards are easy money. I opened one just for our honeymoon bill and it was the easiest $300 I have ever made

 

I bought a Jeep for about $20k cash a long time ago. I sure wish I had known about this then.

 

I was limited to $3000 on a card when I bought my 4runner

 

Ok, you guys now have my interests perked on these cash back cards. I swear the financial advise on this thread is amazing.

 

I've never wanted to play the debt game, always planned on using cash for everything except my first (and last) truck and house. Now I've started to look around and see that I'm going to need credit. Any advice on which credit cards to get? I only plan on using it for food and gas and paying it off every two weeks (which is when I usually pull out the cash I budget for food and gas). Should I get multiple cards? I'm just a youngin' trying to learn. Thanks!

 

Sams club card or Costco card are the best.

Followed by Citi cashback card 2% on every purchase no matter what it is.

 

I wish I could track what I get for fuel point shopping at my grocery store. I buy the food with the CC, I get fuel points for every dollar I spend at the grocery store. Every month I get at least $1/gal discount up to 35 gallons of fuel. With the fuel discount and the cash back on the card, I'm sure we are over $1000/year in free money.

It's a double win for us going this way.

 

Which card do you use ?

 

I use Bank of America for all my banking and credit cards.
I have 2 credits cards... a Visa with a couple small bills on auto pay and a Mastercard that I run every damn thing that I possibly can on it in order to receive cash back.
Between the 2 cards, it generally takes about 9-12 months to build up approx $350 in cash back which I'll then redeem into my checking account.

I don't like debt, so I clear all credit balances weekly, while happily taking their cash back money.
Though I am aware that the cash back money is kind of gimmicky marketing shenanigans... but I still feel like I'm winning... which I'm sure is the reason these programs were developed.

As a part of diversifying away from the stock market a bit, every time I redeem for cash back, I purchase a 1/4 oz. gold bullion coin (not for collector value- only for bullion value) and have been doing this for a bunch of years.
The gold is "less" of an investment and "more" of a savings vehicle allowing me to pretend I'm Scrooge McDuck.

 

Take the time to look around and if you can find a MasterCard and Visa that give you cash back with no fees, that's what I would look into. I think you want one card of each just in case you find a situation that doesn't take one of those cards, you can use the other. Just try to plan out your purchases where you know you will pay it off each month. When I got my cards many years ago, there was no such thing as cash back, it was all points/cash towards specific things like gas, flying miles, GM car, etc. I'm looking into converting my GM card into a cash back card if possible. But if they won't allow me, it's not worth the risk or hit to get a new card and close my existing one. You don't want to open and close multiple credit cards in a short period of time, it will hit your credit big time. But you do need to build a credit history which means you should get a card you like and put some purchases on it and pay them off as soon as you can.

 

Hi all, new poster in this thread. I've lurked in the past, just decided to chime in.

On the topic of cash back credit cards, the wife and I are quite happy with this one...

https://www.americanexpress.com/us/credit-cards/card/blue-cash-preferred/

 

Welcome.

I dunno? I just can't get past the annual fee. Maybe if I had a business that required lot of purchasing, I'd spend the $95. With just the wife and I don't think I could justify it.

 

Card pays for itself many times over for us every year.

It's the only way we pay for groceries and gas.

One caveat however is that the 3% on gas only works at a "regular" gas station like BP, Shell, Exxon, etc. Not at places like a Kroger fuel center. Doesn't bother me though as I prefer buying Top Tier gas.

 

On a different topic...

What do you all think of EQT stock? I keep thinking about getting some, but I also think it might be a pretty stupid move.

 

Looks like it's got nowhere to go but up. Been sliding for the last 5 years. I'm not offering an opinion.

 

Sams club works for 5% off everywhere except kroger. so your murphys gas station still works.
Costco is 4% everywhere, but kroger and those walmart stations.