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lainchan archive - /r/ - 25786



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No.25786

Any Lain have credit cards? Is it worth? I regularly empty my account for things but I also hate interest slavery and fee nickel-and-diming

  No.25787

Have you considered reducing the amount that you consume to help you save money?

  No.25790

File: 1465952539497.png (49.87 KB, 200x151, money wheelbarrow 2.jpg)

I have more savings than I'd ever need to spend over a short period of time and use one in place of a debit card because it has an x% cash back feature. I still think "building a good credit score" is empty debt economy propaganda, but if you ever envision yourself needing to borrow money it is probably something you need to consider.

My CC has a weird payment schedule that works on a 21 day statement cycle. I'm still under the impression that this is done to make keeping track of payment dates impracticle and profit off fees and interest from forgotten payments.

  No.25797

A credit card with a good rewards system is relatively benign. You can get 1% or so off everything; though this is really just reflected in increased costs because it comes out of the vendor's fees, you can't change that (unless you can only shop at places that don't take cards), so it doesn't make sense to take a principled stand and overpay by 1%.

  No.25798

>>25786
>I regularly empty my account for things but I also hate interest slavery and fee nickel-and-diming

this is a sign that you should never get a credit card

  No.25806

You need a credit card in this economy if you want to rent a home or buy a car which are things you regrettably need to survive. Basically you need a reputation as a "good goy" who pays his debts on time regularly. My suggestion is getting a credit card and paying off any debt on it manually and immediately.

  No.25809

>>25806
That's not true. There are other means of survival outside of being someone with good credit that has to succumb to landlords or buying a car. You just have to work harder at being a self-sustained human-being. Something that is mostly lost on the majority of westerners these days.

  No.25810

>>25809
what do you consider to be a self-sustained human-being?

  No.25811

>>25810
One that can feed and shelter themselves without needing help.

  No.25812

>>25811
So, a hermit?

  No.25814

>>25786
I have a debit card and use a credit union.

It works well for me. I can buy things online and cash checks.

  No.25815

>>25806
Please don't make anti-Semitic comments like that on lainchan. We're above that here and if you aren't this isn't the place for you. It's not even worth joking about because it just encourages the pols.

  No.25826

>>25786
No. I have never been in debt in my life.

>>25790
>I still think "building a good credit score" is empty debt economy propaganda
I wouldn't call it empty. Having a good credit score and constantly lending and investing at a higher ROI than the interest on the debt is a very important aspect of our economy and, if you want to do that stuff, a vital tactic. It's not so much propaganda to get the system to work that way as it is a response to the fact that it does work that way and if you want to play and win that's what you need. The problem comes more from the way that we create and control money and how we handle concepts like debt. The game is rigged so that somebody always loses (has actual valuable goods, as opposed to not really valuable currency, reposessed) and the jews at the bank always win (they're the ones who get the stuff) but that doesn't mean you have to be in one of those two classes. Plenty of people borrow and invest and profit from it, entirely unaware that this system is inherently at the expense of others.

  No.25828

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>>25826
>lending and investing at a higher ROI than the interest on the debt
How often do think this actually works out for people? I don't have any statistics, but assume the answer isn't very far from never. The only successful businesses don't need to compete with monopolies of scale and usually found themselves on novel tech, which doesn't need capital injections. How many "businesses" do you see get instantly decimated because they're either subsumed within and less efficient than an existant monopoly or too niche for a conventional retail operations model?

>it does work that way and if you want to play and win that's what you need

If you're a scrub trying to compete with scale monopolies, maybe.

>The game is rigged

Exactly. Debt economies are little more than an inflation hedge for established wealth to perpetuate itself.

  No.25831

>>25828
>don't have any statistics, but assume the answer isn't very far from never.
People take out small business loans and are successful all the time. This is a lot harder in the fields of software/internet where monopolies are so much easier to build/maintain (you don't need to build a branch of facebook in every city in the world) but you can go open a corner shop or a restaurant or a mechanics or something and have a pretty good chance of making a living from it. You might even get lucky and make a small fortune. The game is not that horrendously rigged. If it were it would be painfully obvious that the "meritocracy" aspect was a farce. There are success stories that serve to drive people onward and make them think that the reason they don't have all the shiny things is because they're not smart/lucky enough and not because of who daddy was. The bank want you to take out loans, how else would they take anybodies stuff?

>Debt economies are little more than an inflation hedge for established wealth to perpetuate itself.

This ignores a lot of what our economies are and most importantly how they came to be. Our economy was originally a relatively fair system (though not actually fair ofc, monkeys don't have fair economies). It's just that, as with any system imaginable, last years winners become those with the most influence which means they write next years rules. Don't get me wrong that's not a defence of how things have turned out. It's an incredibly twisted and unfair thing that needs burning to the ground but it's important to understand why things happened the way that they did.

So, in the interests of promoting understanding, let's explain why debt is a complete fucking scam. If you ask most people where banks get the money that they loan to people from they'll probably say that it's from the deposits that people have made at the bank. This is somewhat true but mostly bullshit. It's true in that there are legal limits as to how much they can lend based on how much money has been deposited. It's bullshit in that they actually just create the money from thin air. While, as with any system this old, there are exceptions this is basically the only way that money is created. Every dollar in your account is owed by someone to a bank and, upon repayment of that debt, will cease to exist. This would be a lot fairer if it wasn't for the fact that the money is loaned at interest, so there is always more debt than money, so the bank always takes somebodies stuff. Obviously this is a single paragraph describing a system that has been designed by thousands of people over hundreds of years and there's a hell of a lot of detail that's missing here. If you're interested go research.

  No.25842

>>25815
Ive been on lainchan for 3 years now and I could care less if someone makes ant semitic comments. So I dont know what you mean by "we're". Speak for yourself not for others. You dont know me and I dont know you or anyone else here. Not that poster nor a pol was just scrolling and saw something stupid.

  No.25845

>>25831
>People take out small business loans and are successful all the time.

The success rate after 1 year is much less than 50% IIRC.

  No.26174

>>25786
Back to OPs question...

If you're in the US a credit card is a nice abstraction layer (with reward points), but the trade off is that every transaction is logged and analyzed to no end.

I like to think of a credit card number like a set of API keys that I can invalidate if my wallet gets stolen or my card gets skimmed (the shittyness of CC security is its own topic...).

That being said, don't get a CC if you can't pay it off every month. And never ever ever ever use it to get a cash advance because interest starts compounding instantly.

  No.28130


  No.28131

No credit cards here, no debt. Never a good idea to owe someone.

  No.28132

>>25806
False.

  No.28133

Additionally, studies show that when you use plastic, the average amount you spend increases a non-trivial amount.

  No.28137

>>25786
I have a debit card that I only use for online purchases, unless I happen to run out of cash while at a restaurant or similar business.

I don't have debt or any fees from this and quite like it. If I can't afford something, I don't buy it.

  No.28142

>>28137
This Lain gets it.

  No.28144

>>28132
Incorrect. It may be false in most use cases, but not in all use cases; therefore you overstate the falsity.

  No.28169

>>28137
Have fun when your entire account gets drained because your debit card gets compromised. Credit cards offer a solid level of protection as long as you actually look at what get charged to them.

  No.28187

>>28169
Uh.... nope. They're backed by banks and your maximum losses are $50 as long as you report the activity in a reasonable time.

  No.28188

>>28144
> Most cases
> But muh outliers
> Calls me out for overstating

wew lad.

  No.28191

>>25815
speak for yourself. I guess that you've never been in the lainchan's tox group.
everyone has the right to speak his mind as he prefers.

>>25806
you can live just fine without a car, unless the public transports suck way too much where you currently live. and a flat-share is more than enough to have a roof over your head

  No.28195

I use cash when I want to be private. I use my CC for large purchases. I may just pay for a phone I need to get for work and friends with cash though.