Oddbean new post about login | logout @oussy :ougi: >if you use credit cards responsibly it’s very sustainable. if you treat them as debit cards and don’t buy things beyond your bank account, then the cash back is free money that they just give you for paying your balance. Exactly! You're taking out a fuck tonne of loans that you don't need every month only to pay them off in full at the end of the month. It's such a fucking stupid concept.
shit i don’t even use 10% of my credit limit most months and if i do it’s because i planned out the purchase months in advance (and want the cashback) and will pay the balance the next week. so basically just a debit system delayed by a week.
@oussy :ougi: Right, that's fucking stupid. They make more selling your data than the value of the rewards they give you. Skip the middleman and just sell your own data if you want some extra cash.
@Electric Pants :prince_dance: @oussy :ougi: Eh, on very rare occasion that sort of setup is good. It's a little like a payday loan, but it doesn't rape you if you pay it all back on time. "I need this cash right now, I get paid in 2 weeks." It has uses, but most of the time it's useless and dumb.