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Introducing the New Xbox Mastercard

JackMcGunns

JackMcGunns

Member
Mr Moose said:
That's two different people.
Click to expand...


obama joe GIF
 
Elysium44

Elysium44

Banned
StreetsofBeige said:
Yup. Using two cards responsibly is a good advice for anyone too. A VISA and a MC. The two most popular cards. In a bind, you use one and dont have to worry if a business only accepts one brand. Every CC store will accept at least one of these brands. Most both. But you run into some that only take one of them. Or if some reason one the cards fails (I've had that few times where you fuck up the key press ad get locked out), then you pull out the other card and pay. Then resolve the locked out card when you get home with CSR.

Building a credit score is important too. Someone can go the 100% cash route for sake of budgeting. And thats fine and all, but to build up credit scores to get approved for low rate loans you need to build up a score using CCs at some point so you can at least be on record being a good reliable customer. Even just a $1000 limit card meant for students is good enough. Just milk that card for a few years to build up a score.
Click to expand...

I wish my father understood this. He has money so doesn't think he needs a credit card but I say why not have one just in case. It gives you more options. It gives you purchase protection, or the ability to rent a car or whatever else you may want to do, easier. And if you pay it off in full, it doesn't cost a penny.

And yes, credit rating matters for all sorts of things, and it's better to be able to show you can handle credit responsibly, than to be debt free and have no lines of credit because then you are an unknown quantity.
 
StreetsofBeige

StreetsofBeige

Gold Member
Elysium44 said:
I wish my father understood this. He has money so doesn't think he needs a credit card but I say why not have one just in case. It gives you more options. It gives you purchase protection, or the ability to rent a car or whatever else you may want to do, easier. And if you pay it off in full, it doesn't cost a penny.

And yes, credit rating matters for all sorts of things, and it's better to be able to show you can handle credit responsibly, than to be debt free and have no lines of credit because then you are an unknown quantity.
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The better the card, the more perks too.

Even bonus shit like some cards give extra year warranty or covers car rental insurance. Also, a very important aspects about CC is that you are protected. If a store tries to fuck you over with a scam, just call up the CC company and show them proof of being scammed and magic! You get your money back. Try that paying cash.

I got hooped by a scammy repair guy who billed me $150 and never came back. Called my CC saying he charged me and never fixed my pipe and even showed him pictures and receipt. Got my money back.

For those of you with modest spending or really screwed with spending, always aim for a basic low interest no annual fee card with a modest perks getting as much dividend pay bac you can like 1-2%. Dont worry about the mega perks promoted. The mega perks wont even make up for the interest you are paying on your giant balance, and if you dont spend a lot money on CC to begin with paying $100+ annual fee probably wont even get you enough perk pts to make it worth it. Just sit down one day and figure out the math.

Most cards have dividend payouts or perk points worth somewhere between 1-3%. I think the only time it gets really good at 5%+ is if it a spiffy travel card where you can rack up travel pts where it might be worth doing if you spend a lot a love traveling.
 
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StereoVsn

StereoVsn

Member
Yeah, I have couple travel cards (getting redeemed for miles), Amazon card, and so on.

Xbox card seems just dumb as you can get much better perks elsewhere. Same with Sony, but at least that one I think has pretty high points of buying on PSN.
 
Kilau

Kilau

Member
Elysium44 said:
I wish my father understood this. He has money so doesn't think he needs a credit card but I say why not have one just in case. It gives you more options. It gives you purchase protection, or the ability to rent a car or whatever else you may want to do, easier. And if you pay it off in full, it doesn't cost a penny.

And yes, credit rating matters for all sorts of things, and it's better to be able to show you can handle credit responsibly, than to be debt free and have no lines of credit because then you are an unknown quantity.
Click to expand...
Especially because you pay for the merchant taking the cards wherever you shop anyway, so might as well take advantage of the perks.
 
StreetsofBeige

StreetsofBeige

Gold Member
Kilau said:
Especially because you pay for the merchant taking the cards wherever you shop anyway, so might as well take advantage of the perks.
Click to expand...
Yup.

And also you dont have to pay for a month. So lets say someone has $1,000 of monthly CC bills. But you always pay a month later. That's basically a person holding onto $1,000 at all times for free. At lets say a 4% interest rate for a good savings account, that's like $40 in your account per year for doing nothing but paying your bills a month later.

That methodology is similar to companies always trying to collect debts asap and paying bills as delayed as possible. Carrying costs and working capital. Use it, grow it, spend it. More cash in your wallet gives you more choice and a bit of bonus bucks from savings account interest.
 
Mibu no ookami

Mibu no ookami

Member
German Hops said:
Imagine the shame of using an Xbox card in public.
Click to expand...

It's actually a pretty decent card and if you look at the reward points, the best rewards are not things you'd buy in public.

5x on Microsoft store, 3x on streaming sites.

Seems like a pretty decent card for gamers who spend a ton of money on gaming and streaming.
 
Mibu no ookami

Mibu no ookami

Member
Elysium44 said:
I wish my father understood this. He has money so doesn't think he needs a credit card but I say why not have one just in case. It gives you more options. It gives you purchase protection, or the ability to rent a car or whatever else you may want to do, easier. And if you pay it off in full, it doesn't cost a penny.

And yes, credit rating matters for all sorts of things, and it's better to be able to show you can handle credit responsibly, than to be debt free and have no lines of credit because then you are an unknown quantity.
Click to expand...

I pay for everything on a credit card and I pay them off almost daily, if not daily weekly, AND I have autopay setup monthly in case I forget.

Paying for things with cash, just means you're missing out on free points.
 
ReBurn

ReBurn

Gold Member
EviLore said:
The best credit cards give you flexible travel redemptions. Amex Gold, Chase Sapphire Preferred, etc. 1-4 points per dollar spent, and can be redeemed at significantly better than $0.01 per point in value for flights.

Going to Europe whenever you want > a free xbox game
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Definitely. I have a credit card from an airline that has a great travel rewards program that stacks a lot of miles. I buy as much as I can with it so that I can catch flights a few times a year. It's pretty great.
 
cinnamonandgravy

cinnamonandgravy

Member
Unknown? said:
Credit is so BS anyway. If you know how it works, any loan taken out(credit card, auto, mortgage, etc) has the currency created for that specific loan. It's not in some vault that the banks have set aside for loaning, it's literally created out of thin air and then they have the audacity to charge interest on loaning out something that didn't even exist before it was loaned. Such a scam.
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nah, regulations dont permit this. there's essentially a loan-to-capital ratio banks have to follow.
and if you're taking out a loan, of course there's going to be a fee. do you loan out money for free?

anyway, if you can pay off the amount each and every month, use a credit card for basically all purchases. it's ~1-10% off every purchase. and it helps build your credit score.
can't pay off the amount each and every month? NEVER use a credit card (except maybe for emergencies).
 
Unknown?

Unknown?

Member
cinnamonandgravy said:
nah, regulations dont permit this. there's essentially a loan-to-capital ratio banks have to follow.
and if you're taking out a loan, of course there's going to be a fee. do you loan out money for free?

anyway, if you can pay off the amount each and every month, use a credit card for basically all purchases. it's ~1-10% off every purchase. and it helps build your credit score.
can't pay off the amount each and every month? NEVER use a credit card (except maybe for emergencies).
Click to expand...
It happens this way actually...

 
Celcius

Celcius

°Temp. member
A 32% interest rate?! Am I reading that right?

Is there a legal limit to how high an APR can be? Phil out here trying to rob gamers instead of reducing the cost of xbox live I see
 
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EviLore

EviLore

Expansive Ellipses
Staff Member
Celcius said:
A 32% interest rate?! Am I reading that right?

Is there a legal limit to how high an APR can be? Phil out here trying to rob gamers instead of reducing the cost of xbox live I see
Click to expand...
It's because the prime interest rate is very high right now, 8.5%, to curb inflation. Highest it's been since 2001.
 
StreetsofBeige

StreetsofBeige

Gold Member
cinnamonandgravy said:
anyway, if you can pay off the amount each and every month, use a credit card for basically all purchases. it's ~1-10% off every purchase. and it helps build your credit score.
can't pay off the amount each and every month? NEVER use a credit card (except maybe for emergencies).
Click to expand...
That is the correct answer.

As for your last sentence, that is exactly the type of advice my dad gave us growing up (among his other million money tips, which included showing me and my siblings how to fill out paper copy income tax forms and getting pissed when we messed up using a pen! lol).

I still can hear my dad telling me about credit cards...... "Only spend when you need it. If you get stuck and have no cash, use it. Always have some cash on you too just in case"

As insane as it sounds (I'm half dozing off ready to go to bed early soon!), a credit card is kind of like Hardline perk in COD. It's not for everyone. Gamers are all amped on it because it makes it easier to hit the motherload like AC-130 killstreak. But that perk is meant for people who know what they are doing and getting one extra kill can get a Chopper Gunner or AC-130 is always attainable. A scrub who can barely even get a 3 kill UAV should not be focusing on a high level perk like that. Stick to the basics.
 
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Hip Hop

Hip Hop

Member
Elysium44 said:
I wish my father understood this. He has money so doesn't think he needs a credit card but I say why not have one just in case. It gives you more options. It gives you purchase protection, or the ability to rent a car or whatever else you may want to do, easier. And if you pay it off in full, it doesn't cost a penny.

And yes, credit rating matters for all sorts of things, and it's better to be able to show you can handle credit responsibly, than to be debt free and have no lines of credit because then you are an unknown quantity.
Click to expand...
I just think people don't know anything about money when they act and think like this, and they think they know everything, and it's frustrating to say the least.

Us younger people have already surpassed the older folks with knowledge and even money some of us have, and they still think we should respect them as such.

No, they need to respect me.
 
U

Unknown Soldier

Member
Playstation has had a credit card for literally forever.

The video game credit cards are shit compared to actual real credit cards with rewards though. I wouldn't be caught dead with any of the video game cards when there are such superior cards out there. The best cards are the ones that reward travel, but the second best cards are the ones that directly reward you a percentage cash back.
 
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Unknown?

Unknown?

Member
Hip Hop said:
I just think people don't know anything about money when they act and think like this, and they think they know everything, and it's frustrating to say the least.

Us younger people have already surpassed the older folks with knowledge and even money some of us have, and they still think we should respect them as such.

No, they need to respect me.
Click to expand...
You don't use money, you use currency. Learning the difference is the first step to understanding how it works.
 
sendit

sendit

Member
About as useless as the Apple Card.

IMO the best duo card for your wallet:
Cap1 Venture X + Savor
 
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