Why do you Americans use so much credit cards?
Why do you like to live with debts?
(Honest question 🫂)
Discussion
Credit is an awesome tool if you use it correctly.
I agree, most Americans don’t use credit correctly and are putting themselves in more and more debt…
I use a MilagePlus card that earns us miles for every purchase. We literally use it for everything, and earn enough miles to cover our family trips to Japan 1 - 2 x a year. We completely covered the nostrasia trip for all for of us with just miles.
** To do it correctly, you need to pay off your entire card balance by the end of the month, every time. This way you get no late payments or interest payments, and all the miles.
Problem is most Americans don’t do this and it just adds up…
This time I chose to eat the interest payment for the month to buy more bitcoin, and will pay it off next week when I get paid…
Another advantage of credit cards is, you can do that if you need/want to.
Debt free minus my mortgage 😁
No car payment?
Negative paid it off 5 years ago. It's slowly falling apart. But still gets me from A to B and almost 150k miles.
Nice! A little jealous especially since I am trying to stack as many sats as possible before the next bull run!
I usually lease and just chalk up our two payments as a monthly living cost. I bought the lease for the first time on one of the cars because the market was such shit when the lease was up
Same here, just mortgage and a small car payment, other car is paid off..
Even mortgage was refinanced during the pandemic at 2.89%.