Can someone educate me on pros and cons of these. We rarely ever use a credit card. Strictly debit types. Considering getting a credit cards that offers rewards back/cash back.

Reasons- we would never have trouble paying the credit card bill each month-wife stays on top of things like that
2. If we're spending the money anyway- why shouldnt we try and get something in return? Thinking gas, groceries- stuff that's going to be purchased anyway and then big items like furniture

I realize google exists and probably has tons of info but i'd rather hear from real people and have some sort of a back and forth conversation about it.

IrishTxAggie said:

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https://texags.com/forums/57/topics/3036643

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Thanks

IrishTxAggie said:

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https://texags.com/forums/57/topics/3036643

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Sounds like the OP wants pros/cons about the idea of a rewards CC rather than which one is best for different types of spending or rewards types.

Pros: If you pay if off every month, you rack up airline miles, hotel points, or cash for stuff or bills you already spend money on. It's like getting rewarded for discipline you already have. The security on a CC is better than debit card, i.e. fraud will be credited back rather than drained out of your bank account in real time.

Cons: If you don't have the discipline to pay it off each month, you will be hit with a higher interest rate than a conventional card. Dave Ramsey loyalists will tell you that CC's will psychologically lure you into spending more.

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The security on a CC is better than debit card.

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The legal protections are better on CCs than debit cards. This is the important thing.

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Dave Ramsey loyalists will tell you that CC's will psychologically lure you into spending more.

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I think this is worded wrong nowadays. I think it's the "eh, I get miles for this anyway" thought that causes people to "overspend" and fund their own rewards. I say "overspend" because it's a trigger word. I don't mean they can't afford it. I mean they can afford it and don't care enough about it.

I've worked in the industry for 20 years. I'd be happy to walk you through the pros and cons if you would like. Send me a pm. I work on the business credit card side but can walk you through the personal side as well.

Merchants are building in a fee you pay no matter how you pay to recoup CC fees. Taking advantage is the smart thing to do.

The added security of a CC vs debit makes it a no brainer if you're fiscally responsible enough to pay monthly. Improving credit score and ability to borrow should the need arise is an added bonus.