@Yehuda57
1)
They've talked about the dangers of credit cards, but reemphasizing it. This is something I messaged someone yesterday:
Me:
If you are going to get a credit card, you need to treat it like cash. Only spend money you have cash to pay for. Even if you have 0% APR, don't let a month go by when you don't pay in full.
Relative:
So what’s wrong if you don’t pay with no APR?
Me:
The mistake people make is that they think it is a math question. It is partly about numbers, but mostly about your brain. You have 0 APR, so you figure it doesn't hurt not to pay - you pay the minimum payments, so your credit doesn't get ruined either. And it can work for a month, two months, even years. But then one day something happens and you can't even make the minimum payment, and now you get slapped with 18% APR. Then you miss another payment, and it rises to 24%, etc. Before you know it you are thousands and thousands of dollars in the hole when you thought you had it under control
2)
Buying groups, farms and whatever the "Get
rich points quick" scheme of the day is.
Even if it is a close friend with the best intentions, when things go wrong, as we're seeing now again on a global financial level, things go horribly wrong. And it won't matter if the person didn't mean to scam you, as long as you're the last person holding the bag, you end up with the bag.
3)
In terms of "getting the most out of your CC - points" - that is extremely subjective. Don't get pressured into thinking you need to spend your miles on an overwater villa in the Maldives. For you, buying your entire family tickets to Los Angeles on Spirit using your UR points may be the most effective usage of points, even if it will make DDFers cringe. Value is personal.
