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AluminiumTech

Member
  • Content Count

    14,182
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About AluminiumTech

Contact Methods

  • Discord
    AluminiumTech#4980
  • Heatware
    http://www.heatware.com/u/108136
  • Steam
    http://steamcommunity.com/id/aluminium-tech/
  • Twitch.tv
    AluminiumTech
  • UPlay
    AluminiumTech

Profile Information

  • Gender
    Male
  • Location
    UK
  • Interests
    Technology, programming and gaming.
  • Occupation
    Student at Uni.

System

  • CPU
    AMD Ryzen 7 1700X
  • Motherboard
    MSI X370 Gaming Pro Carbon
  • RAM
    16GB DDR4-3200 Corsair Vengeance LPX
  • GPU
    Asus ROG Strix Radeon RX Vega 56
  • Case
    NZXT S340 Elite
  • Storage
    500GB Samsung 860 EVO, 1TB Seagate Barracuda + 2TB Seagate Barracuda
  • PSU
    Corsair RM850i
  • Display(s)
    1920x1080 Asus VX239H
  • Cooling
    1x Corsair ML 140 Pro, 1x Corsair ML 120 Pro, 1x Corsair H100i v2
  • Keyboard
    Corsair K70 LUX RGB MX Brown
  • Mouse
    Logitech G903 Wireless
  • Sound
    Sennheiser HD 4.40 BT Wireless Headphones
  • Operating System
    Windows 10 Pro 64 Bit

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Single Status Update

See all updates by AluminiumTech

  1. Success. I was accepted for the card at the 60% APR and given a more than reasonable credit limit:D.
     

    This is so exciting.

    1. Show previous comments  7 more
    2. Jtalk4456

      Jtalk4456

      @CUDAcores89 So as a general rule do you disagree with Ramsey's principles or do you agree but believe that you have the know how to be the one out of 10k people the company has to take some loss on?

    3. CUDAcores89

      CUDAcores89

      @Jtalk4456 for MOST people, what Dave Ramsey preaches is correct. 

       

      However, I am not most people. The VAST majority of people treat their credit limit like it's their money, it's not. It's the banks money. As such I treat spending on my credit cards like spending on a debit card, except it just has to be paid at the end of the month. 

       

      I have played mind games fighting over a $1.25 candy bar before and as to whether that $1.25 was worth parting with or not. I have walked into plenty of stores before and came out with nothing because I didn't find anything I wanted. I currently have access to almost $11,000 of total credit limit, yet I religiously pay down my balances to zero and do not use my credit limits to get into debt. 

       

      Dave Ramsey is speaking to an audience of people who are terrible with money and spend everything they have. For these people, it makes perfect sense to stay away from credit cards. 

       

      Me however (and the rest of the r/churning subreddit) treat credit cards as a way to turbocharge our spending through airline miles and cash back. We don't care about the credit limit or the APR, since we mentally do not want to carry a balance and have no plans to pay the bank any money unless it's for an annual fee that gives us more value than the fee. A good example would be I recently signed up for an amex biz platinum card that has a $5500 annual fee, but includes enough travel credits that can be converted into cash by buying airline gift cards and selling these gift cards completely offsets the annual fee. If the annual fee was $550 but I got nothing back, I wouldn't sign up for it.

       

      In a nutshell yes, you have to be like the 1% of the credit card users out there who know how to game the system rather than let the banks take advantage of your lack of financial knowledge and get you into debt. 

       

      Churning credit cards is like going to Vegas and playing poker at the casino. There are two kinds of people who play poker at the casino. There are the people who go to the casino to lose all their money (most credit card users), and then there are the people who go to the casino and use their years of training in poker to make money instead (churners). One is easy, the other requires discipline, just like credit card churning. I suggest you choose to be the latter and not the former.

       

      TL:DR

       

      I agree with Dave Ramsey for the audience he is speaking to. These people are not disciplined enough to pay off their cards every month. But for a small minority of credit card users, it makes sense since it's cash back and travel I wouldn't have gotten otherwise. 

       

      My flight and part of my hotel at LTX 2019 are entirely paid by american express. without them, I would've never been able to go at all. I also have no debt on this card and I met the spending bonus by buying something I already needed to buy, my college tuition. then I get a free trip anywhere in the world for free.

    4. Jtalk4456

      Jtalk4456

      @CUDAcores89 Fair enough. I've been the most for a while now, but we're getting past the bad discipline and starting to set up budgets and get far more involved with our money

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