Kiroy
Marine Biologist
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Investing General Discussion
- Thread starter Furious
- Start date
Sheriff Cad
scientia potentia est
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Correct. They then extrapolate the percentage of credit card bills that aren't paid on time and said that 67% doesn't "intend to pay it off."
Arden
Vyemm Raider
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Kind of a silly stat. It's just another way of saying 95% of people who bought stuff on BF used a card instead of cash- which sounds about right for 2025. Especially when so many purchases are made online. Can't exactly pay with cash online.
Even the 67% is probably misleading. If you are carrying a balance on your card that exceeds what you spent on BF and don't fully pay it off, I'm sure you count as part of the 67%.
That said, economy is definitely weakening, there are much better indicators flashing red.
Even the 67% is probably misleading. If you are carrying a balance on your card that exceeds what you spent on BF and don't fully pay it off, I'm sure you count as part of the 67%.
That said, economy is definitely weakening, there are much better indicators flashing red.
Furry
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How do they know so many don't intend to pay it off in 30 days. I do almost all of my discretionary spending on CCs, its just free money between the 1-5% back, the points, and the arbitrage of not having to pay for ~30-60 days before interest accrues. If you pay your CCs off 100% of the time every time its a no brainer.
Jysin
Bronze Baronet of the Realm
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My position on this is similar. Who tf uses cash these days? I use my rewards CC for everything. Literally just tap my watch or phone to pay for a simple purchase as a pack of gum or cup of coffee. Every 2 weeks, I pay the balance in full. Never accrue interest.
Rangoth
Vyemm Raider
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I actually put nearly 100% of my day to day stuff on a CC, because of the point systems we all talk about. id be foolish not to. I also save a random 1-3% on stuff because of CC programs that randomly pop up. 2% cash back at circle K, 10 back at wine-insiders….etc
Fucker
Log Wizard
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I got my first credit card before I was old enough to drink. I haven't made a large cash purchase (outside of cars and homes) since then. All my daily/misc purchases go on a card. Pay it off right away, get rewards of various types.
I keep some cash in the wallet in case payment systems go down, and I keep a stash of cash at home, but I don't use it in regular commerce at all.