Getbig.com: American Bodybuilding, Fitness and Figure
Getbig Main Boards => Gossip & Opinions => Topic started by: Vince G, CSN MFT on December 08, 2021, 07:34:19 AM
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Well, i was apprehensive about the 250 dollar annual fee but by simply making all of my purchases and paying my bills , i have over 104000 points and ive saved about 1300 dollars this year. So, ive decided to go ahead and upgrade it since they have a 150k offer along with now having to travel more for work and things. I do think the 695 annual fee is outragous but if i have to travel, i want to do it as effectively and comfortably as possible...along with saving money.
Honestly when i was a kid, i thought American Express cards were for glaciers only and not for us colored folks.
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Diner's Club from National to International
you have enough points to get a free drink next time you and Viss head out to Shoneys
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Credit Cards are for saps.
Its a charge card, balance has to be paid in full every month. I dont believe in credit cards
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Credit Cards are for saps.
Not using credit cards is for saps.
If disciplined, you get free cash for just paying with the card over regular money.
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Not using credit cards is for saps.
If disciplined, you get free cash for just paying with the card over regular money.
This. Plus enhanced protection against shitty merchants.
Using a Credit cards if you struggle to pay off the debt would also be for saps.
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You start buying things that you may not normally buy as you chase points and cash back. Have fun with the eventual usury level interest rates.
That says more about your poor impulse control than the credit card.
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You start buying things that you may not normally buy as you chase points and cash back. Have fun with the eventual usury level interest rates.
I use it in place of my debit card. I have more money in the bank because of that. 1300 in savings and 105,000 points. Just used 15000 of them to buy new funishing for the house. I should have done this years ago
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Amex is a great company to work with. Great customer service. I don't travel so I'm sticking with the Gold card over Platinum. I'm not an international baller like Vince. I did just use a shit ton of points and got a new iPhone practically free. I'm one of those lunatics that uses credit cards for all my expenses and I'm constantly looking for new ones to apply for. You guys ever watch credit card Youtubers like The Credit Shifu and Ask Sebby? I watch that shit all the time. I enjoy it, it's kinda like a hobby.
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Not using credit cards is for saps.
If disciplined, you get free cash for just paying with the card over regular money.
Exactly. It’s only for saps with no will power. If you can’t handle a credit card, listen to Dave Ramsey because you can’t control yourself.
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I like free money, that's why I use credit cards.
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Vince,
I'm curious.
You got 105,000 points?
How many points do you get for each dollar spent?
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Vince,
I'm curious.
You got 105,000 points?
How many points do you get for each dollar spent?
1000 points per dollar spent.
🤣
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1000 points per dollar spent.
🤣
Oh my!
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Vince,
I'm curious.
You got 105,000 points?
How many points do you get for each dollar spent?
I got 60k points after i spent 4000 within 6 months although i hit that mark after 2 months. I just stopped using my debit card for purchases and put it on my Amex instead. Thats all i did...didnt chane my spending habits, didnt do anything really other than use the card for purchase like Aaron told me to do. Then it just kept building up. I put a total of about 30k on the card this year just doing that
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The platinum is nice when traveling through airports that have the Centurion lounges. You get free drinks and food while you wait for your flights.
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I've had an AMEX for over 35 years. My wife pays the bill. You're saying you get reward points for using the card? She never told me. I spend about 10K on the card a year. How much money is that in points? If it's a lot she has some splaining to do.
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I've had an AMEX for over 35 years. My wife pays the bill. You're saying you get reward points for using the card? She never told me. I spend about 10K on the card a year. How much money is that in points? If it's a lot she has some splaining to do.
"Lucy...'splain!"
(https://s-i.huffpost.com/gen/1243419/images/o-RICKY-RICARDO-LUCY-facebook.jpg)
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"Lucy...'splain!"
(https://s-i.huffpost.com/gen/1243419/images/o-RICKY-RICARDO-LUCY-facebook.jpg)
Lol!!
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"Lucy...'splain!"
(https://s-i.huffpost.com/gen/1243419/images/o-RICKY-RICARDO-LUCY-facebook.jpg)
Classic- hahaha
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Well, i was apprehensive about the 250 dollar annual fee but by simply making all of my purchases and paying my bills , i have over 104000 points and ive saved about 1300 dollars this year. So, ive decided to go ahead and upgrade it since they have a 150k offer along with now having to travel more for work and things. I do think the 695 annual fee is outragous but if i have to travel, i want to do it as effectively and comfortably as possible...along with saving money.
Honestly when i was a kid, i thought American Express cards were for glaciers only and not for us colored folks.
Good for you, Vince.
You will lead your fellow coloreds out of bondage to financial freedom.
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"Lucy...'splain!"
(https://s-i.huffpost.com/gen/1243419/images/o-RICKY-RICARDO-LUCY-facebook.jpg)
Well, I am Cuban.
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Its a charge card, balance has to be paid in full every month. I dont believe in credit cards
Why would you use one with an annual fee? I have an AMEX as well and got the offer for the platinum card. No thanks.
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Credit Cards are for saps.
Dork. I haven't paid for a flight/hotel package since 2009. It's all AMEX points. All my gifts are AMEX cards purchased with points.
I met a guy at a convention a couple of years ago who took his family on 2 vacations a year on points. If I remember he had a company that manufactured toothpicks.
I believe there are some VISA cards with better reward systems though.
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Free money, tax free, with no annual fee.
Citi Custom Cash Card Review: Low-Maintenance 5% Cash Back - NerdWallet
With the Citi Custom Cash Card, your bonus cash back is automatically adjusted based on your spending in the card’s eligible bonus categories. This makes earning rewards less complicated and labor intensive than with competitors' cards.
https://www.nerdwallet.com/reviews/credit-cards/citi-custom-cash
Costco Visa Review: Bulked-Up Savings for Members - NerdWallet
The Costco Anywhere Visa Card by Citi can indeed be used anywhere, not just at Costco, and it offers impressive rewards, but redemption can be a hassle.
4% cash back on eligible gas for the first $7,000 per year and then 1% thereafter.
3% cash back on restaurants and eligible travel purchases.
2% cash back on all other purchases from Costco and Costco.com.
https://www.nerdwallet.com/reviews/credit-cards/costco-anywhere-visa
Citi Double Cash Review: 2% on Everything Is Tough to Beat - NerdWallet
The is a valuable workhorse among credit cards. With superior flat-rate cash back, it’s ideal for consumers who want to haul in low-hassle cash rewards on everything they charge. What it…
https://www.nerdwallet.com/reviews/credit-cards/citi-double-cash
Amazon Prime Rewards Review: Perhaps the Ultimate Store Card - NerdWallet
The Amazon Prime Rewards Visa can reward you handsomely and consistently for shopping at Amazon and Whole Foods — but you must be an Amazon Prime member.
5% Back at Amazon.com and Whole Foods Market with an eligible Prime membership*
2% Back at restaurants, gas stations, and drugstores
https://www.nerdwallet.com/reviews/credit-cards/amazon-prime-rewards
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I make all my purchases with this card only
(https://www.forbes.com/advisor/wp-content/uploads/2020/07/17ysw4g6loMIEha6LbJmALqSEVpH1diS1.jpg)
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Why would you use one with an annual fee? I have an AMEX as well and got the offer for the platinum card. No thanks.
It would be a write-off for work
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Credit Cards are for saps.
I use my credit card like a debit card.
The credit option is there in case of an emergency.
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Nothing wrong with using credit as long as you’re smart about it.
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Why not the Centurion Card from American Express? No invite? Couldn't afford the $5000 annual fee? 16% APR too high?
I had an American Express card a few years back. What I discovered was that many places wouldn't accept it. This is even more true of merchants in Europe.
A friend of mine swore by his American express. He was in the wholesale grocery business and travelled extensively in the U.S. He'd charge as much as $10 G's a month on it. In his case, the rewards made it a viable option. This was about a decade ago. Not sure if the benefits are as good today.
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Why not the Centurion Card from American Express? No invite? Couldn't afford the $5000 annual fee? 16% APR too high?
I had an American Express card a few years back. What I discovered was that many places wouldn't accept it. This is even more true of merchants in Europe.
A friend of mine swore by his American express. He was in the wholesale grocery business and travelled extensively in the U.S. He'd charge as much as $10 G's a month on it. In his case, the rewards made it a viable option. This was about a decade ago. Not sure if the benefits are as good today.
No i coiuldnt afford the fee. Couldnt get more than 20 bucks a john for your momma. She was the Dollar General of ho's
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No i coiuldnt afford the fee. Couldnt get more than 20 bucks a john for your momma. She was the Dollar General of ho's
Prime gets all the love here.😁
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No i coiuldnt afford the fee. Couldnt get more than 20 bucks a john for your momma. She was the Dollar General of ho's
A reply worthy of a true Getbigger.
Brutal.
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AMEX gives you 55 days to pay the bill. I business expense GPUs and mine Ethereum. Then I sell the card for personal cash. I keep the Ethereum and rewards point. Then wait for 25% promo events to redeem for prepaid credit cards. And keep repeating it. You're welcome.
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Well, i was apprehensive about the 250 dollar annual fee but by simply making all of my purchases and paying my bills , i have over 104000 points and ive saved about 1300 dollars this year. So, ive decided to go ahead and upgrade it since they have a 150k offer along with now having to travel more for work and things. I do think the 695 annual fee is outragous but if i have to travel, i want to do it as effectively and comfortably as possible...along with saving money.
Honestly when i was a kid, i thought American Express cards were for glaciers only and not for us colored folks.
Oh Frabjous Day! Callooh! Callay! Kindly take your mental monetary masturbatory machinations elsewhere you pickeled putz.
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This was pretty cool in 2001. ;)
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It would be a write-off for work
That’s still money you have to spend. I struggle to see what $700 gets you that would be worth it
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That’s still money you have to spend. I struggle to see what $700 gets you that would be worth it
Well i just activated it today so i'll tell you.
First I set my Walmart+ membership so i can get it fee - 100 dollar savings
Then I got the 240.00 Digital Entertainment for my New York Times and Audible.
Then i removed my phone insurance from Verizon because the card now covers my phone - 144 dollars savings
I already had my 200 annual Uber credit. Even though i have 2 cars, i actually use the Uber Eats for Tropical Grill or for some bagels from Greenfields on Sunday...just drpends
Then i cut off my Good Sam roadside service because i now have it with the card. That save me 50 bucks a year
Finally i got the 100 dollar Saks 5th Avenue annual credit which give me two 50 dollar gift cards..they have plenty of household stuff under 50 bucks that i can use.
So, ive pretty much paid for the annual fee and then some....and i havent even gotten to the 100k points or traveled yet or explored everything else...just following Sebby's lead
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That’s still money you have to spend. I struggle to see what $700 gets you that would be worth it
Not sure where 700 comes from, my fee is $499. It depends what you do and how much you spend. I put on average $15k/month business expenses on it. This is what I get:
225,000 points which I redeem at 25% boost events for AMEX prepaid cards: around $3,000
Free lounge access (which admittedly before COVID used maybe 20 times a year) each worth $50: $1,000
Waive rental car insurance: maybe $500 / year
Ethereum mining trick as pointed out few posts above: maybe around $3,000 / year
Let's also not forget the cool factor of whipping out a thick ass metal credit card associated with you being wealthy. No monetary value, but feels good. I remember one bitch at an airport lounge counter telling me that I would need to have one of the higher tier AMEX cards to get in (I was wearing casual clothes and I assume she thought I would not have one) and I whipped mine out and said "is one of these ok?" and it became to "welcome to our lounge" real fast.
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Let me drop some knowledge on you credit card noobs. Amex owns this site called Resy which allows you to make reservations for restaurants and shit. I don't care about that..... but if you are going to apply for an Amex if you go through resy.com you can often get huge sign-up bonuses more than the average schmuck will get. Right now you can get 125K points and 15% back at restaurants(for the first 6 months) with the Amex Platinum.
https://resy.com/amex-offers?date=2021-12-08&seats=2
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Not sure where 700 comes from, my fee is $499. It depends what you do and how much you spend. I put on average $15k/month business expenses on it. This is what I get:
225,000 points which I redeem at 25% boost events for AMEX prepaid cards: around $3,000
Free lounge access (which admittedly before COVID used maybe 20 times a year) each worth $50: $1,000
Waive rental car insurance: maybe $500 / year
Ethereum mining trick as pointed out few posts above: maybe around $3,000 / year
Let's also not forget the cool factor of whipping out a thick ass metal credit card associated with you being wealthy. No monetary value, but feels good. I remember one bitch at an airport lounge counter telling me that I would need to have one of the higher tier AMEX cards to get in (I was wearing casual clothes and I assume she thought I would not have one) and I whipped mine out and said "is one of these ok?" and it became to "welcome to our lounge" real fast.
It says 695 fee for platinum
Why not just go for the “special invite” black card? Not rich enough :D
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It says 695 fee for platinum
Why not just go for the “special invite” black card? Not rich enough :D
In due time, Dr. Goodrum, PhD, CSN, MFT, HPP, CEO, will possess a black card.
You don’t own over 200 online businesses without climbing to the top.
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In due time, Dr. Goodrum, PhD, CSN, MFT, HPP, CEO, will possess a black card.
You don’t own over 200 online businesses without climbing to the top.
Correct. Dr. Goodrum believes in the old adage "slow and steady wins the race".
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In due time, Dr. Goodrum, PhD, CSN, MFT, HPP, CEO, will possess a black card.
You don’t own over 200 online businesses without climbing to the top.
With those credentials it’s a matter of time, not a matter of if
Amex has Vince on the radar
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Not sure where 700 comes from, my fee is $499. It depends what you do and how much you spend. I put on average $15k/month business expenses on it. This is what I get:
225,000 points which I redeem at 25% boost events for AMEX prepaid cards: around $3,000
Free lounge access (which admittedly before COVID used maybe 20 times a year) each worth $50: $1,000
Waive rental car insurance: maybe $500 / year
Ethereum mining trick as pointed out few posts above: maybe around $3,000 / year
Let's also not forget the cool factor of whipping out a thick ass metal credit card associated with you being wealthy. No monetary value, but feels good. I remember one bitch at an airport lounge counter telling me that I would need to have one of the higher tier AMEX cards to get in (I was wearing casual clothes and I assume she thought I would not have one) and I whipped mine out and said "is one of these ok?" and it became to "welcome to our lounge" real fast.
Sir Bicep disputes your success unless you are an 8-9.
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In due time, Dr. Goodrum, PhD, CSN, MFT, HPP, CEO, will possess a black card.
You don’t own over 200 online businesses without climbing to the top.
Racism.
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Not sure where 700 comes from, my fee is $499. It depends what you do and how much you spend. I put on average $15k/month business expenses on it. This is what I get:
225,000 points which I redeem at 25% boost events for AMEX prepaid cards: around $3,000
Free lounge access (which admittedly before COVID used maybe 20 times a year) each worth $50: $1,000
Waive rental car insurance: maybe $500 / year
Ethereum mining trick as pointed out few posts above: maybe around $3,000 / year
Let's also not forget the cool factor of whipping out a thick ass metal credit card associated with you being wealthy. No monetary value, but feels good. I remember one bitch at an airport lounge counter telling me that I would need to have one of the higher tier AMEX cards to get in (I was wearing casual clothes and I assume she thought I would not have one) and I whipped mine out and said "is one of these ok?" and it became to "welcome to our lounge" real fast.
With that amount of money flow, I’m sure it could be worth it. But Mr Goodrum I suspect is not using his credit cards like that at this point.
I use two: a chase card that gives 1.5% back on everything and the Amazon card that gets 5% back on Amazon purchases. 0% annual fee. A card that offered better rewards but charged annual fee wouldn’t be worth it for me, but everyone is different
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It says 695 fee for platinum
Why not just go for the “special invite” black card? Not rich enough :D
Maybe I'm getting a discounted rate for having the card for 14 years?
Would love to have the special invite card, I'm afraid I'm not special enough for that ;D
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It says 695 fee for platinum
Why not just go for the “special invite” black card? Not rich enough :D
Nope...and the Centurion card is by invitation only.
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And back in Barrie, Ontario Canada the low-level software salesman Vaughn Klingsiek is looking at his maxxed out Visa card, his ugly wife Tanis, his best friend - who fucks Tanis, and his 1,400 square foot house while realizing he will never be an XFactor baller like Melvin Goodrum.
Kudos to Goodrum, he keeps the senile old prick Basile in his place.
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And back in Barrie, Ontario Canada the low-level software salesman Vaughn Klingsiek is looking at his maxxed out Visa card, his ugly wife Tanis, his best friend - who fucks Tanis, and his 1,400 square foot house while realizing he will never be an XFactor baller like Melvin Goodrum.
Kudos to Goodrum, he keeps the senile old prick Basile in his place.
Outstanding imagery.
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And back in Barrie, Ontario Canada the low-level software salesman Vaughn Klingsiek is looking at his maxxed out Visa card, his ugly wife Tanis, his best friend - who fucks Tanis, and his 1,400 square foot house while realizing he will never be an XFactor baller like Melvin Goodrum.
Kudos to Goodrum, he keeps the senile old prick Basile in his place.
All I got out of this is images of henda’s hairy chest and you barbell squatting
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All I got out of this is images of henda’s hairy chest and you barbell squatting
I took a break from squats for a while.
Hearing about Pellius passing away was very depressing and I just didn’t feel like working out. I’m feeling better now and I’m starting back up working out, but concentrating on my flat benching and trying to learn how to do chins properly.
I was doing a fair bit of running lately because it is Christmas Party season and I’m basically obligated to go the little black party dress look. I sent Henda a photo of my deltoids because they are key in wearing a sleeveless dress.
And of course I laugh at the irony of Shizzo being banned for stupidity in a Pellius thread. Phil would have found that hilarious.
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No i coiuldnt afford the fee. Couldnt get more than 20 bucks a john for your momma. She was the Dollar General of ho's
My momma died at age 61 in 1985. This was a year after she married her third husband who took her to Europe for a month on their honeymoon. For an old lady, she did okay....just a little better than $20.
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With that amount of money flow, I’m sure it could be worth it. But Mr Goodrum I suspect is not using his credit cards like that at this point.
I use two: a chase card that gives 1.5% back on everything and the Amazon card that gets 5% back on Amazon purchases. 0% annual fee. A card that offered better rewards but charged annual fee wouldn’t be worth it for me, but everyone is different
Isn't you Amazon card with Chase bank? Mine is.
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And back in Barrie, Ontario Canada the low-level software salesman Vaughn Klingsiek is looking at his maxxed out Visa card, his ugly wife Tanis, his best friend - who fucks Tanis, and his 1,400 square foot house while realizing he will never be an XFactor baller like Melvin Goodrum.
Kudos to Goodrum, he keeps the senile old prick Basile in his place.
Something like this?
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Something like this?
Legs like hanky.
Does he even lift bro?
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Legs like hanky.
Does he even lift bro?
Does it even matter so long as he's wearing a $37,500 wrist watch?
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Does it even matter so long as he's wearing a $37,500 wrist watch?
No it doesn't.
But i didn't notice. ;D
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Why would you use one with an annual fee?
Stupidity?
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I use it in place of my debit card. I have more money in the bank because of that. 1300 in savings and 105,000 points. Just used 15000 of them to buy new funishing for the house. I should have done this years ago
15000 points Is a 150 bucks what you buy big spender a lamp :D ;D
Your glaciers comment is pretty good never heard that one haha
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Stupidity?
My guess as well.
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Its a charge card, balance has to be paid in full every month. I dont believe in credit cards
You do have the option for “pay over time” for any charge over $100 but they beat you over the head on interest charges if you do that, so stick to hour plan and just pay it monthly.
With what you get back, if you travel, the annual fee pays for itself. You get $200 in credit to an airline of your choice which is great as well as free admission to Delta Skyclub. Also, if you got the business version, you’ll get 1.5 points for any charge over $5,000 so take advantage of that. It’s been a long time since I’ve paid for a plane ticket since I just transfer to Delta sky miles account. Good shit VVVV.
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Does it even matter so long as he's wearing a $37,500 wrist watch?
$150 Guess wrist watch and his niece’s blue jeans.
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15000 points Is a 150 bucks what you buy big spender a lamp :D ;D
Your glaciers comment is pretty good never heard that one haha
It’s one point per dollar spent.
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Using a debit card is for saps. My credit card gives me 1000's of dollars back each year all for buying goods with someone else's money. Never paid $1 in interest.
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You do have the option for “pay over time” for any charge over $100 but they beat you over the head on interest charges if you do that, so stick to hour plan and just pay it monthly.
With what you get back, if you travel, the annual fee pays for itself. You get $200 in credit to an airline of your choice which is great as well as free admission to Delta Skyclub. Also, if you got the business version, you’ll get 1.5 points for any charge over $5,000 so take advantage of that. It’s been a long time since I’ve paid for a plane ticket since I just transfer to Delta sky miles account. Good shit VVVV.
Yea i learned my lesson the first time i atarted so i pay it super early.
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Using a debit card is for saps. My credit card gives me 1000's of dollars back each year all for buying goods with someone else's money. Never paid $1 in interest.
But you bought also spent money you normally wouldn't have on useless items as you chased points while cluttering your house. And if it's true that you spend zero in interest, for every one person who manages that, there are 100,000 people who sink into debt. Credit Cards are for saps.
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But you bought also spent money you normally wouldn't have on useless items as you chased points while cluttering your house. And if it's true that you spend zero in interest, for every one person who manages that, there are 100,000 people who sink into debt. Credit Cards are for saps.
So, who's fault is it that someone else can't manage money and we can? I get tons of money and I got $7,000 back last year with using my chase cards. I don't understand your argument like it's responsible peoples fault for using credit cards the correct way. ??? ??? Should anyone buy shit they don't need just to accumulate points? No. Hell no. I like the chase trifecria and use it alot actually but don't get on your high horse because dumbasses can't use credit cards the responsible way. If you don't like free money, it's cool. I have 16 credit cards and each one has its own purpose. 8) 8)
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So, who's fault is it that someone else can't manage money and we can? I get tons of money and I got $7,000 back last year with using my chase cards. I don't understand your argument like it's responsible peoples fault for using credit cards the correct way. ??? ??? Should anyone buy shit they don't need just to accumulate points? No. Hell no. I like the chase trifecria and use it alot actually but don't get on your high horse because dumbasses can't use credit cards the responsible way. If you don't like free money, it's cool. I have 16 credit cards and each one has its own purpose. 8) 8)
I enjoy free money as much as the next guy I suppose. That's where owning rental properties has really paid off. It's virtually zero work as I use a property management company to handle the properties. So I just pay for everything up front. If I want more money I just buy another property. Haven't had a mortgage in years either. Anyone serious about money knows Credit Cards are for suckers.
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I enjoy free money as much as the next guy I suppose. That's where owning rental properties has really paid off. It's virtually zero work as I use a property management company to handle the properties. So I just pay for everything up front. If I want more money I just buy another property. Haven't had a mortgage in years either. Anyone serious about money knows Credit Cards are for suckers.
I paid $7k for a surgery and was just gonna say, "Fuck it" and pay debit which was good enough for me but I sat there and said, "I'll get back to you in that." so, I went home and looked at which credit card had the best bonus, points or whatever they were offering if you spent $4k in fhe first 3 months which I would be able to get when swiping a card for $7k surgery. So, why would I use a debit card when I would have gotten shit back or used a credit card and gotten $2,400 back in travel points or $1,900+ in cash back which brought the surgery to $5k. ??? ??? Credit cards can be used like a tool that can kill you or you can let it do the work for you and give you money back. I understand rental properties, investments,.. Etc but explain to me why I would wanna turn down free money for sliding a debit or credit card? ??? I had a few accounts through chase, citi,.. Etc where soke company's in Germany were hitting me with $17, $22, $12,..etc charges from a account I forgot about and stole like $4,000 from me and I had to sign affidavits to have the bank go back and get my money where as any credit card I uses alerts on my phone and its good for me.
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I paid $7k for a surgery and was just gonna say, "Fuck it" and pay debit which was good enough for me but I sat there and said, "I'll get back to you in that." so, I went home and looked at which credit card had the best bonus, points or whatever they were offering if you spent $4k in fhe first 3 months which I would be able to get when swiping a card for $7k surgery. So, why would I use a debit card when I would have gotten shit back or used a credit card and gotten $2,400 back in travel points or $1,900+ in cash back which brought the surgery to $5k. ??? ??? Credit cards can be used like a tool that can kill you or you can let it do the work for you and give you money back. I understand rental properties, investments,.. Etc but explain to me why I would wanna turn down free money for sliding a debit or credit card? ??? I had a few accounts through chase, citi,.. Etc where soke company's in Germany were hitting me with $17, $22, $12,..etc charges from a account I forgot about and stole like $4,000 from me and I had to sign affidavits to have the bank go back and get my money where as any credit card I uses alerts on my phone and its good for me.
Sounds like a lot of mental gymnastics. Personally I don't have a "coupon cutter's" mentality. I have an "abundance" mentality. If I need to pay 7 thousand for a surgery (that's what insurance is for BTW), I open my wallet and hand over the green. There's plenty more where that came from. No stress.
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But you bought also spent money you normally wouldn't have on useless items as you chased points while cluttering your house. And if it's true that you spend zero in interest, for every one person who manages that, there are 100,000 people who sink into debt. Credit Cards are for saps.
I did? I didn't even realize that! Thank you! You must be extremely wealthy.
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I enjoy free money as much as the next guy I suppose. That's where owning rental properties has really paid off. It's virtually zero work as I use a property management company to handle the properties. So I just pay for everything up front. If I want more money I just buy another property. Haven't had a mortgage in years either. Anyone serious about money knows Credit Cards are for suckers.
You own investment properties but don't use leverage which is the main benefit of investing in real estate?
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Sounds like a lot of mental gymnastics. Personally I don't have a "coupon cutter's" mentality. I have an "abundance" mentality. If I need to pay 7 thousand for a surgery (that's what insurance is for BTW), I open my wallet and hand over the green. There's plenty more where that came from. No stress.
Good point about medical insurance. Maybe his surgery was optional, as in plastic surgery, which insurance doesn't generally cover. My max inpatient services runs just under $400 a day for the first 4 days, beyond that is 100% covered. Meaning my max out of pocket expense is $1,600. Outpatient day surgery is $275.
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You own investment properties but don't use leverage which is the main benefit of investing in real estate?
"Leverage" isn't a benefit. It is a strategy used to buy property when the buyer lacks the immediate funds. "Profit" is the main benefit of investing in real estate. Borrowing always costs more than paying cash. I choose to pay cash.
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Some men are captains of industry. Vincenzo? More icon of indolence.
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"Leverage" isn't a benefit. It is a strategy used to buy property when the buyer lacks the immediate funds. "Profit" is the main benefit of investing in real estate. Borrowing always costs more than paying cash. I choose to pay cash.
You might want to give Mr. Trump a call and explain this to him. Since with him it is all about leverage with someone else's money....preferably a financial institution with deep pockets and offshore opportunities. But in a pinch, a flock of sheep donors to a failed political campaign or fake legal proceeding works well too.
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Some men are captains of industry. Vincenzo? More icon of indolence.
Me...I am just an ordinary Joe, making the best out of what little I have. Definitely not someone at the Getbig financial level...although, I have never lived in my mom's basement to save money.
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Me...I am just an ordinary Joe, making the best out of what little I have. Definitely not someone at the Getbig financial level...although, I have never lived in my mom's basement to save money.
Well said, and true. For some here it is rote that they, at the least, feign to live not only beyond their means but also their ego. You are not among them.
Vincenzo? His ego only stretches so far as though it were the sansabelt of the human personality. That his limited means suffice is witness enough.
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"Leverage" isn't a benefit. It is a strategy used to buy property when the buyer lacks the immediate funds. "Profit" is the main benefit of investing in real estate. Borrowing always costs more than paying cash. I choose to pay cash.
This is a joke right? You're trolling right? Leverage is a huge benefit in real estate. Reduces your taxes, allows you to buy more assets with less money. If you're chasing maximum "profit" then leverage is your friend. If you told me, hey, I'm a conservative investor that is only interested in cash flow, that would be fine. But you're not saying that. You're saying things that are completely untrue. Leverage is one of the main reason people buy real estate, if they couldn't leverage it, they'd be better off buying higher appreciating assets like equities.
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This is a joke right? You're trolling right? Leverage is a huge benefit in real estate. Reduces your taxes, allows you to buy more assets with less money. If you're chasing maximum "profit" then leverage is your friend. If you told me, hey, I'm a conservative investor that is only interested in cash flow, that would be fine. But you're not saying that. You're saying things that are completely untrue. Leverage is one of the main reason people buy real estate, if they couldn't leverage it, they'd be better off buying higher appreciating assets like equities.
Debt is never your "friend". All it takes is a downturn in the housing market, which is imminent, or some deadbeat tenants and you're all done. Cash is King. Stop watching infomercials.
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Sounds like a lot of mental gymnastics. Personally I don't have a "coupon cutter's" mentality. I have an "abundance" mentality. If I need to pay 7 thousand for a surgery (that's what insurance is for BTW), I open my wallet and hand over the green. There's plenty more where that came from. No stress.
I have insurance, great pension, 401k, other investments but how is that alot of mental gymnastics? ??? ??? Cash back added up, cashed out and saved $2,000 if I would have paid with my debit card, I would have gave $2,000 away. I'm just gonna assume that you think I'm a moron and have no idea how finances work but I'm not stupid enough to give away $2,000. ;) hell, I've paid around $16k in surgeries and gotten back the 87% - 90% of it. ;) keep posting more and more about the mental gymnastics. :o :o
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I have insurance, great pension, 401k, other investments but how is that alot of mental gymnastics? ??? ??? Cash back added up, cashed out and saved $2,000 if I would have paid with my debit card, I would have gave $2,000 away. I'm just gonna assume that you think I'm a moron and have no idea how finances work but I'm not stupid enough to give away $2,000. ;) hell, I've paid around $16k in surgeries and gotten back the 87% - 90% of it. ;) keep posting more and more about the mental gymnastics. :o :o
Health insurance and life insurance are musts. True wealth doesn't come from cash back, travel points, Olive Garden gift cards, etc.
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Health insurance and life insurance are musts. True wealth doesn't come from cash back, travel points, Olive Garden gift cards, etc.
True wealth, huh? I have health insurance, good insurance also but you seem to be confused? I have money but I'm not gonna give it away which is something you don't seem to understand. :D
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Health insurance and life insurance are musts. True wealth doesn't come from cash back, travel points, Olive Garden gift cards, etc.
Life insurance is stupid unless it's a term life policy for your dependent kids if you die.
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(https://spoilertime.com/wp-content/uploads/2016/04/giphy-3.gif)
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Debt is never your "friend". All it takes is a downturn in the housing market, which is imminent, or some deadbeat tenants and you're all done. Cash is King. Stop watching infomercials.
Of course debt can be your friend. Stop making these broad, sweeping generalizations. Without debt, most people would never be able to own a home. Most real estate investors would never own more than a couple properties. Debt allows you to buy an appreciating asset that can pay for itself, while your payments stay the same. I could have bought my primary home for cash but why would I? I kept my money in the market and it's more than doubled in the last 4 years while I own a home that's also appreciated greatly.
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Gentlemen, please defer to Vincent Goodrum in all discussion about fiscal responsibility.
Thank you in advance.
;D
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The Vincenzo visage was made for a (plain or chocolate) milk cartoon, i.e., "Have You Seen Me?"
One supposes it would also more than suffice for a box containing Bum Grease or AnalEze.
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The Vincenzo visage was made for a (plain or chocolate) milk cartoon, i.e., "Have You Seen Me?"
One supposes it would also more than suffice for a box containing Bum Grease or AnalEze.
lol
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Debt is never your "friend". All it takes is a downturn in the housing market, which is imminent, or some deadbeat tenants and you're all done. Cash is King. Stop watching infomercials.
Some financial experts advise against Real Estate as a good investment because real estate markets relate to inflation. There are different considerations for each type of real estate investor—whether a personal homeowner, a future landlord, a flipper, or a land developer.
Borrowing to invest is okay if you get an interest rate lower than the returns. Currently, interest rates are at all time lows for people with excellent credit. I recently refinanced my mortgage for 2.15% APR. It was 4.35% APR. I was able to reduce the term of the mortgage without increasing the monthly payments. Shortening the term also reduces the total amount of interest paid over the course of the loan.
You say it is best to pay cash. I disagree. If I can earn 8% investing that 'cash' elsewhere. The return on my money is 5.75% to the good. Roll these earnings back into your investment portfolio and the profits multiply.
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Some financial experts advise against Real Estate as a good investment because real estate markets relate to inflation. There are different considerations for each type of real estate investor—whether a personal homeowner, a future landlord, a flipper, or a land developer.
Borrowing to invest is okay if you get an interest rate lower than the returns. Currently, interest rates are at all time lows for people with excellent credit. I recently refinanced my mortgage for 2.15% APR. It was 4.35% APR. I was able to reduce the term of the mortgage without increasing the monthly payments. Shortening the term also reduces the total amount of interest paid over the course of the loan.
You say it is best to pay cash. I disagree. If I can earn 8% investing that 'cash' elsewhere. The return on my money is 5.75% to the good. Roll these earnings back into your investment portfolio and the profits multiply.
(https://memegenerator.net/img/instances/68557657/today-on-things-that-never-happened.jpg)
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(https://memegenerator.net/img/instances/68557657/today-on-things-that-never-happened.jpg)
The estimated 8% return on investment isn't far fetched. Most people have a mix of investments. Assuming you invested the same amount in each of the items below, your average return is 7.725%.
Small-cap stocks 11.9%
Large-cap stocks 10.2%
Government bonds 5.5%
Treasury bills 3.3%
(https://g.foolcdn.com/image/?url=https%3A//g.foolcdn.com/editorial/images/211688/sp-500-performance-roi-by-year.png&w=2000&op=resize)
In the past 10 years Real Estate increased by 49%. A $300.000 real estate investment is currently worth $447.000. How much would $300,000 be valued at if invested in the mix shown above over a 10 year time period? Answer...$1,000,655.
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But you bought also spent money you normally wouldn't have on useless items as you chased points while cluttering your house. And if it's true that you spend zero in interest, for every one person who manages that, there are 100,000 people who sink into debt. Credit Cards are for saps.
The trick is to not be one of the 100,000 who go in debt over trivial purchases. Only charge what you can afford to pay off monthly. It's not that hard. If you need to buy a big ticket item, like a car, get a low interest loan. Low interest loans are a snap when you're credit score is over 800. If you don't have a good mix of credit, such as long term loans, credit cards and a good income to debt ratio, you also won't have a decent credit score. In that case, you may as well pay cash for your house and everything else you buy.