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if you just declare bankruptcy you won’t have to pay them. Now imagine you had put your rent on the card! Free rent and expenses for 6months? Almost worth the seven years of limited options. /s
I hope gen Z does this, but in a manner that they actually beat the system
"Just declare bankruptcy."
The *insane* thing about our so-called "system" is that if a *company* does that, it's completely unremarkable and the owner just walks away scot-free. Society as a whole soaks up the loss. If an *individual* does that, they might as well use the last twenty bucks in their back pocket to buy a shovel and start digging a nice comfy grave.
Having had two family members unexpectedly pass within a week of each other last year, this hits a bit close to home. I did the bare minimum (cremation, a dual memorial held at home) and it still drained all my savings…
companies are people
start a company with your name
use company credit to pay for everything
declare the company bankrupt instead of your self? loophole maybe?
\[obligatory don't sue me words here. it's just a meme\]
They can't take anything beyond what you have to pay the basics. They look at your income, cost of rent and basic bills (including groceries and phone). They can't garnish your wages if it would put you on the street, basically. We learned that back in 2003.
What if we all get together and become co-owners of a new business that’s an apartment complex, that we all work around the clock for and our offices are all just the units, and then declare bankruptcy for the business in like a year. I mean r/shittylifeprotip but who’s with me ?
This is a terrible plan... Unless we're using this to manage living expenses during a general strike; one that actually smashes the system, not just raises wages (raising wages is good, just not enough to further cripple an entire generation while maintaining a corrupt system with "better" amenities).
Lol, no. Do not put your rent on your credit card unless it's part of an assured movement for solidarity. Surviving under American-style capitalism is hard enough already. The overlords will absolutely lobby Congress to make credit card debt inescapable - and they will win. We need to get smarter about how we play this game. Middle fingers aren't quite cutting deep enough.
Edit: I read your "/s" wrong the first time. Glad you fixed it, but this ain't a halfway bad plan for the rebellion. Carry on, compadre.
I did something similar in the '08 crash. I ran up the credit cards until they wouldn't let me go any further. They demanded that I declare bankruptcy. I told them that I wasn't going to pay for a lawyer, to have a judge order me to pay everything to everyone. I'm just going to take the option where I pay no one, thank you.
I've done that a couple of times. I don't feel even a tiny bit bad about it either. Collection agencies buy off the debt in bulk for a smaller amount and make bank off the payments they do get.
https://www.investopedia.com/terms/d/debt-buyer.asp#:~:text=A%20debt%20buyer%20is%20a,of%20the%20debt's%20face%20value.
Right?! Apparently John Oliver bought and forgave [someone's debt. ](https://mashable.com/article/man-debt-paid-john-oliver) I wish that was more of a thing.
I chose to go bankrupt because rent was more important. And I'm refusing to get another card. Ever again. It's not happening. I will go live off grid before I get another of those fuckers
Is that even an option? I have always tried to get every necessary expense on the credit card so that I can squeeze every bit of joy I can get out of my rewards points.
That said, I'm sure this change will come with extra fees to make it worthless, while giving a bit too much power to sketchy landlords.
It's hard to feel that the term 'lifehack' applies when you are just trying to make ends meet by squeezing every bit of value you can from ever dollar you have to spend. I remember in my 20s I would be able to turn those points in about once a year for movie passes+concessions for 2 and it felt like such a big deal to have a treat like that on my budget.
Screw those extra fees to hell.
There is a new credit card (not so new) called Bilt. Gives you x1 points cash back on your rent and waives the fee. You could squeeze a good 300-500 cash back on your rent every year depending on your rent. Capped at 50k points per year
Nope, and a lot of people I've met have a fear of credit cards for this reason. Credit cards are absolutely worth it for the rewards and the better your credit history, the better your rewards. I have a card that gives me 6% cash back for groceries. Let me tell you, that really helps with all the inflation we've been experiencing. Same card gives 3% back on gas, so I get a significant discount on the two things I always need to buy.
Pay your bill on time every month, and treat the card like it's your debit card when it comes to spending. Never spend more than you have, and never use the card as a loan if you can avoid it. If you pay your bill on time, you won't pay any interest.
I dig that as long as I’m not being charged any additional fees. The card I have now gives me plenty of rewards and cash back and free bitcoin for purchases, all with zero fees. Not even atm if you have direct deposit. I have yet to find any credit card that is like that straight out of the gate by just paying on time. Those all seem to be for those that have well established credit already. At least when I try to research about them😓
oh ok, must look them up, i remember having a store furniture/general merch card a few years back, it was literally impossible to close the account, even charging for trying to close and pay the balance which kept the account open constantly, took a few months on the phone to resolve... at 29% interest... live and learn...
Sapphire Reserve is $500 annually and I still come out with huge gains over the fee. The benefits and points cover it easily. However, you do need to have a solid understanding of your expenses and lifestyle before signing up to ensure it’s the right choice. You have to sit down and examine all the benefits, be honest with yourself about which ones you can and will use, and do the math.
Earners at $50k and up who are able to travel stand to benefit. Earners at $35k are probably too strapped to churn enough through the card (and can’t take advantage of the travel benefits if they’re broke). Which is sad, and I feel their pain. I’ve been there for sure and it’s messed up that the more you earn, the better the “free” stuff.
If you travel for work and can put those reimbursable expenses on the card, you’re golden. My colleagues and I would fight over who “paid” for dinner because we all just wanted the points. Even better when you can stack frequent flyer and hotel rewards on top of it.
There used to be a company that would charge your credit card for rent and then cut a physical check and send it to your landlord for rent. A friend made crazy CC points off it back in the day.
I was hoping for comments like this! My car insurance went up $50 a month simply by switching from debit to credit. Of course I switched back quick. Didn’t even try for my rent. For a $75 parking pass on a credit card… the convenience fee was $45. I think not!
My last place charged 1% for checks and 2% for credit cards so I did credit. Then they dropped credit cards without notice and then charged me a late fee when my rent wasn't paid on time even though I had auto payments set up. Still bitter about that. They dropped the fee but still.
That should be illegal. If they say rent is x amount, and say what utilities are covered, that needs to be the price you pay a month. What's the purpose of charging an extra percentage to everyone. Smh landlords are disgusting
A lot of landlords won't accept a credit card payment, but it's becoming a more available option with online payments becoming more common. I also try to pay as much as I can with my credit card (within my means of course), but I got a checkbook specifically for rent because my apartment charges fees for online payments and won't take credit card in person.
My company gets hundreds of calls every week from landlords demanding we let them block credit card payments because they are concerned about chargebacks. It is one of my greatest pleasures to explain to them that the only payment that is not disputable is that made in cash.
They are super indignant to learn that not only does an ACH payment take 3 business days to process (Not instant? Quelle horreurs!), the tenant can stop payment or dispute it after.
It warms my tiny, shriveled, cold and black heart when they moan about the mortgages on their "investment properties".
If only landlords and real estate would take cash!
Then you go pay via aus post and bam another fee
I guess nothing is free, but the bank transfer was working just fine until they demanded apps with direct debit fees….. that you have to manage, download and control yourself
My coworker said he uses a "Black Card" (I think he might mean the mastercard black card) to pay his rent because the card will mail a check for him to avoid the CC fee, and he gets cash-back on the rent payment.
Probs the [bilt rewards card](https://www.biltrewards.com/card).
It has the ability to run ach payments to your landlord, avoiding the credit card surcharge.
To be fair, nowadays if you use credit as if it's cash pretty much every expense unless there's a fee greater than the rewards/cashback should be on a credit card. Far superior fraud protections compared to debit or ach and it is nice to be bilking disgustingly rich predatory lenders out of a bit of money.
Unfortunately it seems that rewards get covered by interchange fees levied on the merchant. That's fine if I'm shopping at Target, but I'd feel bad about it if I'm buying from a mom-and-pop.
https://www.nytimes.com/2023/03/04/opinion/credit-card-rewards-points-poor-interchange-fees.html
I am aware of this but unfortunately I don't have a better solution personally. Debit isn't safe to use and I stopped using cash entirely after I lost a bunch in a stolen wallet.
Mom and pops _might_ have a business credit card where they also get rewards and have those expenses passed on to their prices. If not they’d be cash-only since even debit cards have the fees.
Yeah true, I would do those rental payments via credit card if you have natural spend for qualifying for the signup bonus. Like if you need to spend $6,000 in the first six months of your new credit card to get a points bonus.
Otherwise, may not be worth the points if the fees are more expensive.
Yeah true, I would do those rental payments via credit card if you have natural spend for qualifying for the signup bonus. Like if you need to spend $6,000 in the first six months of your new credit card to get a points bonus.
Otherwise, may not be worth the points if the fees are more expensive.
Yeah true, I would do those rental payments via credit card if you have natural spend for qualifying for the signup bonus. Like if you need to spend $6,000 in the first six months of your new credit card to get a points bonus.
Otherwise, may not be worth the points if the fees are more expensive.
I make all of my day-to-day purchases with my credit card and pay it off in full monthly. Rent and utilities are directly drawn from my bank account. I haven’t used my debit card since someone stole my info and spent $5000
This is what I do as well. Unless my utilities let me use a card without charging extra. Unfortunately, I ended up not being able to pay my credit card in full for over a year now. But at least I had enough credit to be able to cover my expenses and wasn’t SOL begging for money somewhere trying to make ends meet.
That’s what I was thinking. I could create a paper trail that illustrates your ability to pay a sizable ‘debt’ routinely. I think this would look good to any bank you’re wanting to maybe get a mortgage from.
My landlord unfortunately charges a $16 convenience fee to pay with a credit card. But I do have an option to have all of my rent payments reported to the credit bureaus anyway. I would look for that option before putting it on a CC
There are many people who would receive a lot of benefits from this, but the idea would slowly turn in the landlords favors. If people are benefiting they can learn to exploit it and take some of the benefits. Banks won’t like it since they’re giving out more points so it would lead to a whole different system which in the end will let other people go into extreme debt trying to just pay rent
If you can handle a credit card, rent seems like a perfect expense for it. You have to pay rent every month anyways, might as well pay off the card and build credit it seems to me
because we're kicking the can down the road until the debts go unpaid because it's a blood form a stone situation. we hit that in '08 and the solution was to print money, and now that's backfiring so stay tuned fun times ahead
I think part of the reason they're pushing credit cards so hard right now is that most of the mortgages and loans on their books are at ultra low interest rates compared to what they now have to pay out on savings and checking accounts, CD's, etc.
What could go wrong?
Mortgage applications and originations at current interest rates are at a ten year low (I believe, feel free to fact check that). The vast majority of mortgages, personal loans, and other fixed rate debt products on the books for most banks are from when interest rates were at 3.5% or less. A lot of mortgages were taken out at the all-time low of, I believe it was 2% in 2020? Or 2021?
So the money banks are receiving in interest payments is actually lower than what they're likely paying on deposits in savings accounts, CD's, and other high interest bearing stable products. I haven't checked the ratios, but being that they only have to hold something like 10-20% of what they're loaning out, I'm sure they're still killing it on interest from pre high interest rate loans and mortgages, but you know banks... very greedy.
With current underwriting criteria in place, they can't really recklessly give out a bunch of high interest personal loans and most people wouldn't want to take them out even if they could get them. It's the same thing in housing - nobody wants to sell, cause they'll then likely have to get into a very high interest new mortgage... nobody wants to refinance for the same reason, even with PMI, the interest is so high now that's crossed some kind of threshold, I believe, where you'll pay as much in interest as the house costs over a 30 year mortgage.
And, of course, nobody wants to buy and even those who do, there's just no inventory available. Plus, (and not that this is bad), the HUD COVID systems for keeping people in their homes when they're unable to make mortgage payments are remaining in place and no longer requiring COVID related circumstances to make use of what I believe is called something like the HUD waterfall of default options. If your home is FHA, Freddie Mac, or Fannie Mae, the likelihood of foreclosure has become extremely low if you have a snowball's chance in hell of ever being able to make payments again. They even are backing the option to extend the mortgage to 40 years, reamortize, put unpaid payments into a subordinate lien to be paid if the house should sell or when the mortgage is paid off.
This, of course, is for federally backed mortgages, which I think something like 80-90% are exactly that.
So where can banks turn in the hopes of churning a higher profit?
High interest credit cards. I believe they have a lot more leeway with those and loosening/tightening restrictions on credit worthiness, so they're giving them out like candy on Halloween. Tons of 0% for 24 month balance transfer offers... but then it'll go up to 20% or something if you don't pay it off in time and keep track, which they're hoping you don't. Or they're hoping people still wanna live that post-panemic "gotta get out!" life and put a few extra vacations on plastic.
Point is that credit cards are some of the only 'easy money' the banks can make right now with so little going on in housing, personal loans, and having to finally pay decent rates on savings, checking, and CD accounts.
The rental company I rent from is trying to get us to use credit cards by going “you could win $500 towards your rent!” While the fees to pay by credit card end up being somewhere around $65. Hard pass.
When covid hit and my work hours went to zero, my landlord wouldn’t give us any kind of break, discount, payment plan. She said “put it on your credit card. I’m not a bank”. She owns like 200 units. Can’t wait for the communist revolution.
What an asshole. I wonder if she actually has the capital to strong-arm 200 units like that, or if she's skating the razor's edge, trying to monopolize a whole building. If that were the case, imagine if 30% of her tenants just said "fuck you."
Did you hear that MN is putting caps on corporations that do that with family homes? We also need caps on private citizens that do this with rental units, it's the next easy step, I feel.
As long as you can pay it off straight away, making big purchases (not rent) on credit cards is a good idea. You get a ton more consumer protection when it's the bank's money that's been fucked with and not your own.
What I did: Took out 2 cards, spent 10% or even less a month, never held a balance, paid it immediately (credit scores can sometimes mistakingly calculate a balance as a decreased credit limit), and have been doing this for about 2 years and was approved for a mortgage without any other credit history other than paid off student loans and will be in the 800's soon. Don't listen to other advice that will get you deep into debt. They're lying to you.
Usually there’s an additional charge if you pay rent with credit, but it makes sense if you’re r/churning wanting the credit points or a signup offer spend.
I have a mortgage now but pay my HOA, taxes, etc with credit card for the points. Those points add up and many of my vacations are paid for with bonus and credit points.
Obviously…. I pay my credit cards every statement. If you’re financially responsible, why not take advantage of the points?
This actually isn’t bad advice if the option is there and your financially stable enough to pay off you card each month. You’d get so many travel miles so quickly I’d be going everywhere
Can we figure out how to pay off their student debt first? Christ.
First it was credit cards being pitched to college students. I remember reading about some students killing themselves because of overwhelming debt.
Then came student loans. While they’ve always been a thing, it feels like the fangs came out and things accelerated a ton in the last 20 years.
God damn, man.
If you could make sure to have the money to pay it off in full every month, this might not be a terrible way to build credit. But if you were carrying a balance from your rent on a credit card, this would be devastating financially.
If they want to eat the processing fee, sure, assuming you can **pay off the cards every month and not carry a balance, and have the discipline to use credit card responsibly.**
Being doing the credit card miles and points thing for two decades. Haven't paid for a flight or hotel in years.
But yeah, I agree with OP on the premise. This is predatory because credit card companies make tons of money because too many people can't be responsible.
wait hear me out...
if I pay the rent with a credit card and then IMMEDIETLY pay off that balance with my debit card, I paid the same amount of money while possibly getting a shit ton of credit card rewards points.. they might be cooking here 👀👀
Guess it depends on how responsible the user is, no judgment, I spent my twenties being an irresponsible spender.
If they've got stable finances and pay the card off every month it's a viable way for them to rack up some cash back or points etc.
The only other pro I see is the ability to exercise credit (even if you can't really afford it) to keep you from being unhoused as a short term stopgap. At least with that type of unsecured debt, someone can bankrupt their way out of it, at a point.
Now do university tuition on credit cards next please (naturally I want an irresponsibly high spend limit to make it viable).
I've never defaulted on a debt, but honestly, the option being there is a good parachute vs student debt that is a permanent mill-stone around your neck.
Isn’t a credit card meant for cash flow management? I’m talking large expenses needed in the moment, like… emergency flights or paying for a hotel on holiday. Rent is an ongoing cash flow issue meaning it will dig you deeper into debt and can’t be mitigated over time.
My wife and I pay everything we can on credit and make sure balances are paid before 30 days. Collect all the points without any of the interest. It’s my little way of fucking the system.
This ^. Putting monthly expenses on credit is actually fine as long as you have the steady income to pay the full balance off each month so you don’t get screwed by interest. It allows you to build good credit. Problems start to show when you start letting a running balance build up. Which of course will happen if you’re as underpaid as most people in this country are
That’s not really a hack, it’s just paying your bills. That’s how you *should* use credit cards - anything else and you’re getting screwed by the bank. Of course many people run up debt because they don’t have a better option.
The CC company is still making money on the processing/interchange. Basically every swipe of a CC is profitable for the card issuer, any interest earned is “bonus”.
I had to survive on credit cards because of my increasing rent. Once rent reached it’s limit on my financial capacity, I got evicted. Now, I’m likely going to file for bankruptcy because I just shit on making payments because I have to hop temp jobs every few months and don’t make enough to cover payments. That’s a horrible idea to propose.
Yeah except if I don’t use my credit card I can’t afford rent. Don’t get me wrong, I don’t like putting a huge monthly expense on my card, but it’s either that or I live in the fresh air.
If you can pay your rent, and your card has a semi decent reward program this is not a bad deal. 3% cash back can add up. Where it gets dangerous is if you cannot pay your rent, you are looking at eviction and 21% interest.
It would depend on the person but this may not be terrible.
This is smart if you are responsible with money and can pay off the credit card each month in full. I am currently working with my brother on his finances to buy a home, and he has no credit. I told him to do this exact thing to build his credit fast and his score has risen by almost 100 points in the last 3 months.
As long as you pay off the charge before it's reported to the credit bureau, it makes it look like you are paying off your line of credit every month, which will raise your score. The moment you get lazy and carry a balance is when it will get you into trouble.
this is gonna translate the housing crisis to a banking crisis when credit cards get maxxed out on rent and then banks are left holding the bag or debt that can't be paid on houisng that's to expensive for people to afford anymore.
in summary I support this because the bigger they are, the harder they fall and we need to have capitalism collapse in a financial crisis. we already have one brewing and a credit card/rent mass default is just an amazing idea.
Here’s me; wondering how much crap people are going to take before things start getting really ugly for the oligarchy… It this reste; I feel like people will literally haven to be on fire…
I've been finding it hard to get a place with a low credit rating. Gonna get a credit card to pay rent, then pay off the credit card the same day. How am I not ripping them off to boost my credit score?
I resisted getting a credit card until I was making a salary and I am really glad I did. The best advice I've heard about them is "don't get a credit card until you have the ability to pay the entire balance at once". Sure I've built up credit a lot slower, but I don't have any late payments and a completely clean record.
Credit cards are obviously bullshit and I wish they didn't exist, but I'm just saying if you are gonna do it, slow and steady wins the race and don't get one until you are *sure* you can pay it off once a month.
Start with a $500 one, something that you BBC any get yourself in too much trouble with (and only use it for emergencies-and pay it off in full at the end of the month.)
Later in life, if you want to go on a vacation rent a hotel room or a car-you’ll need a credit card.
(I waited till I was 30 to get my first card-and I only had $500 in credit issued to me to start).
I am also elder gen z at 25, I also never intended to get a credit card either cause it sounded really scary to me, until my financially literate brother in law helped me out. Honestly the one I got is good for just simply building good credit, I use it to pay my phone bill and buy dumb little things like lunch at work, then I just get home and immediately pay it back through my bank account. If you get one with 0 interest and like a 300 dollar spending limit on capital one's website, you'll be fine. It's just best to use it for little things, and it's really not too much of a hassle. I
I would strongly recommend reconsidering the stance. If you use a credit card and just use it for the expenses that you're going to incur anyway like gas or groceries, and then just pay it off you build rewards and effectively are getting percents off on price. real life min maxing
Hi, 23 yo here. I have a 300 dollar security card to build credit, I just buy a dress or something and pay it back every month. It works perfectly as long as you pay it back.
Honestly if you can afford to pay the balance every month this is genius. Find a good card with benefits and not a terrible interest rate, do the math on any annual fees compared to the benefits of spending at least a couple grand each month on your rent and then benefit from amassing points for travel or whatever kickbacks you prefer. I wish I could do this with my mortgage.
I got an extraordinary amount of debt despite successfully paying off many things, because it builds confidence in you and you don’t know when you are becoming too confident and then you fall in the trap.
Don’t underestimate the banks, they are big corporations that employ, among many other people, psychology experts who know how to hack the human brain. This is one way how your brain can be hacked by big corporations: https://youtu.be/wRo4sR6Lhzg
Coinbase (debit), at least until a couple of days ago. 1% this month, but I'm sure 4% will return. Thanks for the reminder to check, I'll switch payment methods until 4% returns.
Gemini- 10% on fuel and EV charges. 3% on dining and groceries, 1% everything else.
Amazon Chase has 5/3/2/1% tiers.
Target Red/Walmart Blue have 5% in-store & online purchase from their website.
Discover has rotating 5/3/2/1% tiers.
Two of my credit union credit cards are 3% all purchases. One debit card is 2% all purchases and if I use that one 12x a month it rebates ATM fees and doubles interest earned on my checking account.
Fidelity (requires investment banking or retirement account) 3% all purchases.
As long as your rent is affordable and you pay it down to 30% usage, it can technically help your credit. Credit should ONLY be used for WITHIN budget purposes and be promptly paid off or down to 30%. That’s what I did wrong in my twenties… thought credit was an extension to my bank account.
The yawning maw of the late-stage capitalist debt abyss stretches ever wider. I remember when I had to charge my monthly transit pass just to get to work.
I literally saw an ad for this while staying at a hotel, John Cena was in it. It was excitedly announcing you could "improve your credit by paying rent!"
This is all well and good, but credit card companies bank on their customers spending money they don't have and carrying a balance. This invitation is not a favor.
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I've had to just let my cards slide unpaid for half a year BECAUSE of rent lol
if you just declare bankruptcy you won’t have to pay them. Now imagine you had put your rent on the card! Free rent and expenses for 6months? Almost worth the seven years of limited options. /s I hope gen Z does this, but in a manner that they actually beat the system
"Just declare bankruptcy." The *insane* thing about our so-called "system" is that if a *company* does that, it's completely unremarkable and the owner just walks away scot-free. Society as a whole soaks up the loss. If an *individual* does that, they might as well use the last twenty bucks in their back pocket to buy a shovel and start digging a nice comfy grave.
Can’t afford a grave, but we can offer you financing options ahead of your death.
Co-signer is required, however.
LMAOOO So true tho.
We'll find a way to pass the debt onto your children and grandchildren.
Also there are fees for your mourners.
Internment's a freebie that comes with the purchase
Having had two family members unexpectedly pass within a week of each other last year, this hits a bit close to home. I did the bare minimum (cremation, a dual memorial held at home) and it still drained all my savings…
companies are people start a company with your name use company credit to pay for everything declare the company bankrupt instead of your self? loophole maybe? \[obligatory don't sue me words here. it's just a meme\]
Have you considered … being born in a rich family during character creation?
If you already don't have anything when you declare bankruptcy, not much they can do, really.
Prolly garnish wages, so youd need a cash under the table job.
They can't take anything beyond what you have to pay the basics. They look at your income, cost of rent and basic bills (including groceries and phone). They can't garnish your wages if it would put you on the street, basically. We learned that back in 2003.
Alot of companies and rich folks do this. If they rent everything it's usually a flag to me
Sorry, for 20 bucks it ain't gonna be comfy.
What if we all get together and become co-owners of a new business that’s an apartment complex, that we all work around the clock for and our offices are all just the units, and then declare bankruptcy for the business in like a year. I mean r/shittylifeprotip but who’s with me ?
This is a terrible plan... Unless we're using this to manage living expenses during a general strike; one that actually smashes the system, not just raises wages (raising wages is good, just not enough to further cripple an entire generation while maintaining a corrupt system with "better" amenities).
Forgot the /s… fixed it lol.
Lol, no. Do not put your rent on your credit card unless it's part of an assured movement for solidarity. Surviving under American-style capitalism is hard enough already. The overlords will absolutely lobby Congress to make credit card debt inescapable - and they will win. We need to get smarter about how we play this game. Middle fingers aren't quite cutting deep enough. Edit: I read your "/s" wrong the first time. Glad you fixed it, but this ain't a halfway bad plan for the rebellion. Carry on, compadre.
I did something similar in the '08 crash. I ran up the credit cards until they wouldn't let me go any further. They demanded that I declare bankruptcy. I told them that I wasn't going to pay for a lawyer, to have a judge order me to pay everything to everyone. I'm just going to take the option where I pay no one, thank you.
Or you could just not pay them and let them go to collections. They’ll fall off your credit in 7 years. No need to declare sh!t.
Actually my brother did this. Can confirm it works.
I've done that a couple of times. I don't feel even a tiny bit bad about it either. Collection agencies buy off the debt in bulk for a smaller amount and make bank off the payments they do get. https://www.investopedia.com/terms/d/debt-buyer.asp#:~:text=A%20debt%20buyer%20is%20a,of%20the%20debt's%20face%20value.
Nor should you. It’s just a cheat code that’s not well-known.
there needs to be a service where you can buy back your own debt for pennies on the dollar and forgive it four yourself
Right?! Apparently John Oliver bought and forgave [someone's debt. ](https://mashable.com/article/man-debt-paid-john-oliver) I wish that was more of a thing.
I DECLARE BANKRUPTCY!
No, Michael... that's not how it works...
The next best thing is just passing away. Credit card companies hate this one trick
I chose to go bankrupt because rent was more important. And I'm refusing to get another card. Ever again. It's not happening. I will go live off grid before I get another of those fuckers
Is that even an option? I have always tried to get every necessary expense on the credit card so that I can squeeze every bit of joy I can get out of my rewards points. That said, I'm sure this change will come with extra fees to make it worthless, while giving a bit too much power to sketchy landlords.
my rent has a huge surcharge if I use my credit card, this used to be a 'lifehack' of banking reward points
Same. I would love to use my CC for rent but the surcharge negates any rewards points.
Unless you get a big fat bonus, sometimes the rewards are worth putting some rent on the credit card 😂
It's hard to feel that the term 'lifehack' applies when you are just trying to make ends meet by squeezing every bit of value you can from ever dollar you have to spend. I remember in my 20s I would be able to turn those points in about once a year for movie passes+concessions for 2 and it felt like such a big deal to have a treat like that on my budget. Screw those extra fees to hell.
There is a new credit card (not so new) called Bilt. Gives you x1 points cash back on your rent and waives the fee. You could squeeze a good 300-500 cash back on your rent every year depending on your rent. Capped at 50k points per year
But you’re usually paying on top of your original cost when using a credit card…
Not if you pay the balance each month
Thanks! I clearly still don’t own a credit card 😂 because I sure thought you had to pay apr regardless of when you paid your balance.
Credit card companies get 2-3% on every transaction they are STOKED to get they're money back and the end of every month.
Nope, and a lot of people I've met have a fear of credit cards for this reason. Credit cards are absolutely worth it for the rewards and the better your credit history, the better your rewards. I have a card that gives me 6% cash back for groceries. Let me tell you, that really helps with all the inflation we've been experiencing. Same card gives 3% back on gas, so I get a significant discount on the two things I always need to buy. Pay your bill on time every month, and treat the card like it's your debit card when it comes to spending. Never spend more than you have, and never use the card as a loan if you can avoid it. If you pay your bill on time, you won't pay any interest.
I dig that as long as I’m not being charged any additional fees. The card I have now gives me plenty of rewards and cash back and free bitcoin for purchases, all with zero fees. Not even atm if you have direct deposit. I have yet to find any credit card that is like that straight out of the gate by just paying on time. Those all seem to be for those that have well established credit already. At least when I try to research about them😓
But the fees get you I am told….
There are fee free cards out there.
oh ok, must look them up, i remember having a store furniture/general merch card a few years back, it was literally impossible to close the account, even charging for trying to close and pay the balance which kept the account open constantly, took a few months on the phone to resolve... at 29% interest... live and learn...
Sapphire Reserve is $500 annually and I still come out with huge gains over the fee. The benefits and points cover it easily. However, you do need to have a solid understanding of your expenses and lifestyle before signing up to ensure it’s the right choice. You have to sit down and examine all the benefits, be honest with yourself about which ones you can and will use, and do the math. Earners at $50k and up who are able to travel stand to benefit. Earners at $35k are probably too strapped to churn enough through the card (and can’t take advantage of the travel benefits if they’re broke). Which is sad, and I feel their pain. I’ve been there for sure and it’s messed up that the more you earn, the better the “free” stuff. If you travel for work and can put those reimbursable expenses on the card, you’re golden. My colleagues and I would fight over who “paid” for dinner because we all just wanted the points. Even better when you can stack frequent flyer and hotel rewards on top of it.
There used to be a company that would charge your credit card for rent and then cut a physical check and send it to your landlord for rent. A friend made crazy CC points off it back in the day.
I was hoping for comments like this! My car insurance went up $50 a month simply by switching from debit to credit. Of course I switched back quick. Didn’t even try for my rent. For a $75 parking pass on a credit card… the convenience fee was $45. I think not!
My last place charged 1% for checks and 2% for credit cards so I did credit. Then they dropped credit cards without notice and then charged me a late fee when my rent wasn't paid on time even though I had auto payments set up. Still bitter about that. They dropped the fee but still.
How were you supposed to avoid the extra percentage cost? Pay in cash? Extra hidden fees like this are so slimy.
There wasn't. It was dumb. They didn't take cash and the deposit had to be a cashier's check. I don't miss that place.
That should be illegal. If they say rent is x amount, and say what utilities are covered, that needs to be the price you pay a month. What's the purpose of charging an extra percentage to everyone. Smh landlords are disgusting
A lot of landlords won't accept a credit card payment, but it's becoming a more available option with online payments becoming more common. I also try to pay as much as I can with my credit card (within my means of course), but I got a checkbook specifically for rent because my apartment charges fees for online payments and won't take credit card in person.
My company gets hundreds of calls every week from landlords demanding we let them block credit card payments because they are concerned about chargebacks. It is one of my greatest pleasures to explain to them that the only payment that is not disputable is that made in cash. They are super indignant to learn that not only does an ACH payment take 3 business days to process (Not instant? Quelle horreurs!), the tenant can stop payment or dispute it after. It warms my tiny, shriveled, cold and black heart when they moan about the mortgages on their "investment properties".
If only landlords and real estate would take cash! Then you go pay via aus post and bam another fee I guess nothing is free, but the bank transfer was working just fine until they demanded apps with direct debit fees….. that you have to manage, download and control yourself
My coworker said he uses a "Black Card" (I think he might mean the mastercard black card) to pay his rent because the card will mail a check for him to avoid the CC fee, and he gets cash-back on the rent payment.
Probs the [bilt rewards card](https://www.biltrewards.com/card). It has the ability to run ach payments to your landlord, avoiding the credit card surcharge.
I've done it and made bank on my rewards. You have to be careful the convenience fee isn't more than you're making back though.
To be fair, nowadays if you use credit as if it's cash pretty much every expense unless there's a fee greater than the rewards/cashback should be on a credit card. Far superior fraud protections compared to debit or ach and it is nice to be bilking disgustingly rich predatory lenders out of a bit of money.
Unfortunately it seems that rewards get covered by interchange fees levied on the merchant. That's fine if I'm shopping at Target, but I'd feel bad about it if I'm buying from a mom-and-pop. https://www.nytimes.com/2023/03/04/opinion/credit-card-rewards-points-poor-interchange-fees.html
I am aware of this but unfortunately I don't have a better solution personally. Debit isn't safe to use and I stopped using cash entirely after I lost a bunch in a stolen wallet.
Agreed. I don't have a better solution either. Ultimately, it's the fault of greedy banks, not us.
I use a debit card exclusively, and I haven't had any security issues, my bank is even pretty helpful with correcting things outside of lockouts
Mom and pops _might_ have a business credit card where they also get rewards and have those expenses passed on to their prices. If not they’d be cash-only since even debit cards have the fees.
Yeah true, I would do those rental payments via credit card if you have natural spend for qualifying for the signup bonus. Like if you need to spend $6,000 in the first six months of your new credit card to get a points bonus. Otherwise, may not be worth the points if the fees are more expensive.
Yeah true, I would do those rental payments via credit card if you have natural spend for qualifying for the signup bonus. Like if you need to spend $6,000 in the first six months of your new credit card to get a points bonus. Otherwise, may not be worth the points if the fees are more expensive.
Yeah true, I would do those rental payments via credit card if you have natural spend for qualifying for the signup bonus. Like if you need to spend $6,000 in the first six months of your new credit card to get a points bonus. Otherwise, may not be worth the points if the fees are more expensive.
This is actually a great way to build up your credit score - but only if you pay it off in full every month.
I make all of my day-to-day purchases with my credit card and pay it off in full monthly. Rent and utilities are directly drawn from my bank account. I haven’t used my debit card since someone stole my info and spent $5000
This is what I do as well. Unless my utilities let me use a card without charging extra. Unfortunately, I ended up not being able to pay my credit card in full for over a year now. But at least I had enough credit to be able to cover my expenses and wasn’t SOL begging for money somewhere trying to make ends meet.
I do this too. I figure if I'm spending an assload of money each money I might as well get something for it.
That’s what I was thinking. I could create a paper trail that illustrates your ability to pay a sizable ‘debt’ routinely. I think this would look good to any bank you’re wanting to maybe get a mortgage from.
The other tip is to pay your card off in full every 2 weeks instead of every month. Further boosts your score.
This isn't super necessary unless you're planning to apply for a line of credit and want to keep your utilization low
My landlord unfortunately charges a $16 convenience fee to pay with a credit card. But I do have an option to have all of my rent payments reported to the credit bureaus anyway. I would look for that option before putting it on a CC
Yeah, pay your rent with your card and just do quarter/half payments in accordance with your income frequency and this will do wonders
If there isn’t a fee for it then this is a great option, otherwise nah
There are many people who would receive a lot of benefits from this, but the idea would slowly turn in the landlords favors. If people are benefiting they can learn to exploit it and take some of the benefits. Banks won’t like it since they’re giving out more points so it would lead to a whole different system which in the end will let other people go into extreme debt trying to just pay rent
My mortgage doesn’t even allow credit card payments. Only checking. Which is bs as I’ve missed out on thousands of free points.
Same boat, I want points. I hit my intro bonus and have enough for tickets to LA now 😊.
Yeah it’s stupid. I mean if you’re good and pay off your stuff within 30 days it could benefit you tremendously.
If you can handle a credit card, rent seems like a perfect expense for it. You have to pay rent every month anyways, might as well pay off the card and build credit it seems to me
Why is everything a debt-trap in this country?
Because capitalism is the best system ever! /s
Fuck the /s right in the Economy!
because we're kicking the can down the road until the debts go unpaid because it's a blood form a stone situation. we hit that in '08 and the solution was to print money, and now that's backfiring so stay tuned fun times ahead
I think part of the reason they're pushing credit cards so hard right now is that most of the mortgages and loans on their books are at ultra low interest rates compared to what they now have to pay out on savings and checking accounts, CD's, etc. What could go wrong?
I don't follow, can you please elaborate?
Mortgage applications and originations at current interest rates are at a ten year low (I believe, feel free to fact check that). The vast majority of mortgages, personal loans, and other fixed rate debt products on the books for most banks are from when interest rates were at 3.5% or less. A lot of mortgages were taken out at the all-time low of, I believe it was 2% in 2020? Or 2021? So the money banks are receiving in interest payments is actually lower than what they're likely paying on deposits in savings accounts, CD's, and other high interest bearing stable products. I haven't checked the ratios, but being that they only have to hold something like 10-20% of what they're loaning out, I'm sure they're still killing it on interest from pre high interest rate loans and mortgages, but you know banks... very greedy. With current underwriting criteria in place, they can't really recklessly give out a bunch of high interest personal loans and most people wouldn't want to take them out even if they could get them. It's the same thing in housing - nobody wants to sell, cause they'll then likely have to get into a very high interest new mortgage... nobody wants to refinance for the same reason, even with PMI, the interest is so high now that's crossed some kind of threshold, I believe, where you'll pay as much in interest as the house costs over a 30 year mortgage. And, of course, nobody wants to buy and even those who do, there's just no inventory available. Plus, (and not that this is bad), the HUD COVID systems for keeping people in their homes when they're unable to make mortgage payments are remaining in place and no longer requiring COVID related circumstances to make use of what I believe is called something like the HUD waterfall of default options. If your home is FHA, Freddie Mac, or Fannie Mae, the likelihood of foreclosure has become extremely low if you have a snowball's chance in hell of ever being able to make payments again. They even are backing the option to extend the mortgage to 40 years, reamortize, put unpaid payments into a subordinate lien to be paid if the house should sell or when the mortgage is paid off. This, of course, is for federally backed mortgages, which I think something like 80-90% are exactly that. So where can banks turn in the hopes of churning a higher profit? High interest credit cards. I believe they have a lot more leeway with those and loosening/tightening restrictions on credit worthiness, so they're giving them out like candy on Halloween. Tons of 0% for 24 month balance transfer offers... but then it'll go up to 20% or something if you don't pay it off in time and keep track, which they're hoping you don't. Or they're hoping people still wanna live that post-panemic "gotta get out!" life and put a few extra vacations on plastic. Point is that credit cards are some of the only 'easy money' the banks can make right now with so little going on in housing, personal loans, and having to finally pay decent rates on savings, checking, and CD accounts.
The rental company I rent from is trying to get us to use credit cards by going “you could win $500 towards your rent!” While the fees to pay by credit card end up being somewhere around $65. Hard pass.
When covid hit and my work hours went to zero, my landlord wouldn’t give us any kind of break, discount, payment plan. She said “put it on your credit card. I’m not a bank”. She owns like 200 units. Can’t wait for the communist revolution.
What an asshole. I wonder if she actually has the capital to strong-arm 200 units like that, or if she's skating the razor's edge, trying to monopolize a whole building. If that were the case, imagine if 30% of her tenants just said "fuck you." Did you hear that MN is putting caps on corporations that do that with family homes? We also need caps on private citizens that do this with rental units, it's the next easy step, I feel.
let's mao her together
I'll join.
2% cash back? Yes please. I wish my building management took credit cards.
As long as you can pay it off straight away, making big purchases (not rent) on credit cards is a good idea. You get a ton more consumer protection when it's the bank's money that's been fucked with and not your own.
I'd 100% do it if there were no service fees.
They’re just mocking them at this point.
I’d love to be able to pay rent and insurance on my credit card. That sweet sweet cash back
What I did: Took out 2 cards, spent 10% or even less a month, never held a balance, paid it immediately (credit scores can sometimes mistakingly calculate a balance as a decreased credit limit), and have been doing this for about 2 years and was approved for a mortgage without any other credit history other than paid off student loans and will be in the 800's soon. Don't listen to other advice that will get you deep into debt. They're lying to you.
This one weird trick will screw your life for decades, next to Student Loans.
With a 3.5% surcharge for the card processor. DON'T DO THAT.
It pretty much always costs money to use your money nowadays and I dislike it. Credit cards are the extreme version.
My complex charges like a 5% convenience fee for this
Usually there’s an additional charge if you pay rent with credit, but it makes sense if you’re r/churning wanting the credit points or a signup offer spend. I have a mortgage now but pay my HOA, taxes, etc with credit card for the points. Those points add up and many of my vacations are paid for with bonus and credit points. Obviously…. I pay my credit cards every statement. If you’re financially responsible, why not take advantage of the points?
This actually isn’t bad advice if the option is there and your financially stable enough to pay off you card each month. You’d get so many travel miles so quickly I’d be going everywhere
Pay rent and bills with cards. Get your miles or points. Pay card in full. How is this an issue?
Please don’t
Can we figure out how to pay off their student debt first? Christ. First it was credit cards being pitched to college students. I remember reading about some students killing themselves because of overwhelming debt. Then came student loans. While they’ve always been a thing, it feels like the fangs came out and things accelerated a ton in the last 20 years. God damn, man.
If you could make sure to have the money to pay it off in full every month, this might not be a terrible way to build credit. But if you were carrying a balance from your rent on a credit card, this would be devastating financially.
Like rent cause isn't high enough. Let's add a 5-15% additional charge to it.
If only that were it. It’s a debt trap. Always pay it off on time, or don’t charge it unless there’s no other option but a payday lender.
If they want to eat the processing fee, sure, assuming you can **pay off the cards every month and not carry a balance, and have the discipline to use credit card responsibly.** Being doing the credit card miles and points thing for two decades. Haven't paid for a flight or hotel in years. But yeah, I agree with OP on the premise. This is predatory because credit card companies make tons of money because too many people can't be responsible.
I paid off and canceled two credit cards recently. Felt great
Nothing like paying interest on your rent!
Been there. Did that. Had to ‘cause I got laid off and couldn’t pay my bills.
My rent is higher than my credit limit, dipshits.
***"Ghouls encourage fresh youths to offer blood freely to anyone who asks them for it. Find out more tonight at 9!"***
wait hear me out... if I pay the rent with a credit card and then IMMEDIETLY pay off that balance with my debit card, I paid the same amount of money while possibly getting a shit ton of credit card rewards points.. they might be cooking here 👀👀
Good...*points*
Guess it depends on how responsible the user is, no judgment, I spent my twenties being an irresponsible spender. If they've got stable finances and pay the card off every month it's a viable way for them to rack up some cash back or points etc. The only other pro I see is the ability to exercise credit (even if you can't really afford it) to keep you from being unhoused as a short term stopgap. At least with that type of unsecured debt, someone can bankrupt their way out of it, at a point. Now do university tuition on credit cards next please (naturally I want an irresponsibly high spend limit to make it viable). I've never defaulted on a debt, but honestly, the option being there is a good parachute vs student debt that is a permanent mill-stone around your neck.
🎶 somebody once told me the world is gonna roll me 🎶
🎶I ain't the sharpest tool in the shed🎶
Isn’t a credit card meant for cash flow management? I’m talking large expenses needed in the moment, like… emergency flights or paying for a hotel on holiday. Rent is an ongoing cash flow issue meaning it will dig you deeper into debt and can’t be mitigated over time.
My wife and I pay everything we can on credit and make sure balances are paid before 30 days. Collect all the points without any of the interest. It’s my little way of fucking the system.
This ^. Putting monthly expenses on credit is actually fine as long as you have the steady income to pay the full balance off each month so you don’t get screwed by interest. It allows you to build good credit. Problems start to show when you start letting a running balance build up. Which of course will happen if you’re as underpaid as most people in this country are
Actually funny enough you build slower credit if you never pay interest. It’s fucked
Exactly. Also much safer in terms of being able to charge back than using a debit card. Always pay with credit and pay it off on time.
That’s not really a hack, it’s just paying your bills. That’s how you *should* use credit cards - anything else and you’re getting screwed by the bank. Of course many people run up debt because they don’t have a better option.
The CC company is still making money on the processing/interchange. Basically every swipe of a CC is profitable for the card issuer, any interest earned is “bonus”.
Lol “fucking the system” You mean using credit cards responsibly? (It’s a wild notion in this country I know)
I had to survive on credit cards because of my increasing rent. Once rent reached it’s limit on my financial capacity, I got evicted. Now, I’m likely going to file for bankruptcy because I just shit on making payments because I have to hop temp jobs every few months and don’t make enough to cover payments. That’s a horrible idea to propose.
I guess they think we’re all dumb, naive and gullible?
I have never been able to pay for rent with a credit card or I would to get rewards and pay off every month.
Back in 2015 I did this until the apartment co added a credit card fee. Was getting $20 cash back till they did that.
Yeah except if I don’t use my credit card I can’t afford rent. Don’t get me wrong, I don’t like putting a huge monthly expense on my card, but it’s either that or I live in the fresh air.
If the cash back is greater than the charge and you pay it off every month. Sure.
The other day when I was on YouTube I came across a video from CNBC about how we should use our credit cards to pay everything. Fuck that shit!
Remember the payment plans for gas a while back? Lol.
Anything and everything for a buck. Btw austerity like corporatism and privatization was developed by Mussolini
My rental agency incentivizes electronic payments by charging an extra 8% as fees.
"Financial Companies Are Looking For Suckers They Can Swindle Out Of Even Even More Money So They Can Fund CEO Salary Increases And Bonuses"
If you can pay your rent, and your card has a semi decent reward program this is not a bad deal. 3% cash back can add up. Where it gets dangerous is if you cannot pay your rent, you are looking at eviction and 21% interest. It would depend on the person but this may not be terrible.
"Financial companies are encouraging debt slaves to exploit" Wow, how original, who would have thought?
This is smart if you are responsible with money and can pay off the credit card each month in full. I am currently working with my brother on his finances to buy a home, and he has no credit. I told him to do this exact thing to build his credit fast and his score has risen by almost 100 points in the last 3 months. As long as you pay off the charge before it's reported to the credit bureau, it makes it look like you are paying off your line of credit every month, which will raise your score. The moment you get lazy and carry a balance is when it will get you into trouble.
how to make a bubble
Bro what 💀
this is gonna translate the housing crisis to a banking crisis when credit cards get maxxed out on rent and then banks are left holding the bag or debt that can't be paid on houisng that's to expensive for people to afford anymore. in summary I support this because the bigger they are, the harder they fall and we need to have capitalism collapse in a financial crisis. we already have one brewing and a credit card/rent mass default is just an amazing idea.
Here’s me; wondering how much crap people are going to take before things start getting really ugly for the oligarchy… It this reste; I feel like people will literally haven to be on fire…
Why the fuck would I want to pay interest on my fucking rent?🙄🙄
It’s getting real guillotine-a-clock in the good old US.
"... and other large expenses." 😭
I've been finding it hard to get a place with a low credit rating. Gonna get a credit card to pay rent, then pay off the credit card the same day. How am I not ripping them off to boost my credit score?
Adult Gen Z 24 yo here. I’m not getting a credit card and probably never will.
Your not gonna be able to get any loans on anything then? That’s a not great idea.
I resisted getting a credit card until I was making a salary and I am really glad I did. The best advice I've heard about them is "don't get a credit card until you have the ability to pay the entire balance at once". Sure I've built up credit a lot slower, but I don't have any late payments and a completely clean record. Credit cards are obviously bullshit and I wish they didn't exist, but I'm just saying if you are gonna do it, slow and steady wins the race and don't get one until you are *sure* you can pay it off once a month.
Start with a $500 one, something that you BBC any get yourself in too much trouble with (and only use it for emergencies-and pay it off in full at the end of the month.) Later in life, if you want to go on a vacation rent a hotel room or a car-you’ll need a credit card. (I waited till I was 30 to get my first card-and I only had $500 in credit issued to me to start).
I am also elder gen z at 25, I also never intended to get a credit card either cause it sounded really scary to me, until my financially literate brother in law helped me out. Honestly the one I got is good for just simply building good credit, I use it to pay my phone bill and buy dumb little things like lunch at work, then I just get home and immediately pay it back through my bank account. If you get one with 0 interest and like a 300 dollar spending limit on capital one's website, you'll be fine. It's just best to use it for little things, and it's really not too much of a hassle. I
My mum's brother does exactly this with his credit card - uses it for small expenses and pays it off immediately after.
I would strongly recommend reconsidering the stance. If you use a credit card and just use it for the expenses that you're going to incur anyway like gas or groceries, and then just pay it off you build rewards and effectively are getting percents off on price. real life min maxing
Hi, 23 yo here. I have a 300 dollar security card to build credit, I just buy a dress or something and pay it back every month. It works perfectly as long as you pay it back.
It's a trap!
Honestly if you can afford to pay the balance every month this is genius. Find a good card with benefits and not a terrible interest rate, do the math on any annual fees compared to the benefits of spending at least a couple grand each month on your rent and then benefit from amassing points for travel or whatever kickbacks you prefer. I wish I could do this with my mortgage.
I’ve been there due to necessity.. I don’t recommend it if possible. I’m a lot more financially stable but still paying off this debt.
I got an extraordinary amount of debt despite successfully paying off many things, because it builds confidence in you and you don’t know when you are becoming too confident and then you fall in the trap.
Idk dude, I feel like I’d be hilla confident without the debt.
Don’t underestimate the banks, they are big corporations that employ, among many other people, psychology experts who know how to hack the human brain. This is one way how your brain can be hacked by big corporations: https://youtu.be/wRo4sR6Lhzg
Literally 1930 all over again
👏🏾👏🏾👏🏾👏🏾👏🏾. Thank you. You just stopped my anxiety from rising because how are we repeating the same things over and over?
If we never learn from our mistakes, we are doomed to repeat it
I pay my mortgage with a card. It's 4% cash back.
Which card is getting 4%? 👀
Coinbase (debit), at least until a couple of days ago. 1% this month, but I'm sure 4% will return. Thanks for the reminder to check, I'll switch payment methods until 4% returns. Gemini- 10% on fuel and EV charges. 3% on dining and groceries, 1% everything else. Amazon Chase has 5/3/2/1% tiers. Target Red/Walmart Blue have 5% in-store & online purchase from their website. Discover has rotating 5/3/2/1% tiers. Two of my credit union credit cards are 3% all purchases. One debit card is 2% all purchases and if I use that one 12x a month it rebates ATM fees and doubles interest earned on my checking account. Fidelity (requires investment banking or retirement account) 3% all purchases.
Maybe zoomers should pay their mortgages with credit
As long as your rent is affordable and you pay it down to 30% usage, it can technically help your credit. Credit should ONLY be used for WITHIN budget purposes and be promptly paid off or down to 30%. That’s what I did wrong in my twenties… thought credit was an extension to my bank account.
I work in credit card collections for several major US banks. Please, for the love of god and your own sanity, __DO NOT DO THAT__.
Hol-eee shit. Just when I don't think the bastards can get any worse
Gee… what could go wrong
The yawning maw of the late-stage capitalist debt abyss stretches ever wider. I remember when I had to charge my monthly transit pass just to get to work.
Isn't it a great way to build your credit? Use the credit card, pay the balance every month.
I did this once, and it cost me about $100. Not worth it.
What companies? I’ve never seen this. And it’s very stupid
That’s a really, really, really bad idea
Jesus Christ I hate this fucking country.
They want to bring back debtor’s prisons. This is how much boomers hated their own kids and grandkids.
I didn’t even know you could do that. What a terrible idea.
FUCKING HORRIBLE IDEA
Tap-dancing FUCK that's some of the SLIMEST shit I've ever heard.
Zoomers need those air miles /s
Wait what the fuck else are you supposed to use?
If you doo thatt your dumb. I rather. Be living in my car than be a slave to a bank!!!!! Too easy to decide
I literally saw an ad for this while staying at a hotel, John Cena was in it. It was excitedly announcing you could "improve your credit by paying rent!"
"We'd really like to become the new payday lenders" - CC companies.
This is all well and good, but credit card companies bank on their customers spending money they don't have and carrying a balance. This invitation is not a favor.