Anyone Here Utilize Cash Back Credit Cards?

[Bill]

the F150 I currently drive I bought through a craigslist ad from a private owner in Ohio.......about 200 miles......it had low mileage.......only used by a retired schoolteacher to pick up sheep of low moral values for her son......

& here I took you for a beamer or Lexis guy.............

[TexanManWithPlans]

Nice try but a weak excuse. I'm far smarter than you and can spot your kind easily.

You're not smarter than me. Maybe you need reading comprehension classes.

Here's what I wrote:

If you don't trust yourself to not spend that money (that WOULD have gone to those expenses anyway) for the 2-3 days it takes to post to your credit card account, then you must be very irresponsible with money.

I wasn't accusing you of being irresponsible with money. I was using "you" in a general sense.

[TexanManWithPlans]

& here I took you for a beamer or Lexis guy.............

Most people who own pickup trucks don't need to. If you're a contractor, a van is superior in that it offers more space and greater protection against thieves.

[CFM]

You're not smarter than me. Maybe you need reading comprehension classes.

Here's what I wrote:



I wasn't accusing you of being irresponsible with money. I was using "you" in a general sense.

Was I included in that general "you" that you claim you meant?

[TexanManWithPlans]

Was I included in that general "you" that you claim you meant?

If it applies to you, then yes. Does it apply to you?

[CFM]

Most people who own pickup trucks don't need to. If you're a contractor, a van is superior in that it offers more space and greater protection against thieves.

Why do you think it's your place to determine what someone you don't know needs or doesn't need?

I can carry 18' long boards in my truck. I can't do that in a van that isn't even 18' long.

As far as protection, rest assured I have it.

[CFM]

If it applies to you, then yes. Does it apply to you?

Then you weren't using the general you.

Caught you, boy. It means I'm way smarter than you. I baited the hook and you bit it like a stupid fish.

[Poor Richard Saunders]

Go to a new car dealer with cash in your pocket. Take their best offer and slice off 10% and show him the cash. See what happens.

What is going to happen is the dealer will file form 8300 with the IRS which will then lead to the IRS investigating your use of such a large amount of cash for financial transactions.

[Poor Richard Saunders]

What I buy at places like CVS or Walmart doesn't add up to a lot nor would the cash back amount to very much. However, when you buy $10,000 or more worth of lumber several times a year and get a cash discount, it does.

Are they giving you a cash discount or a quantity discount? Those are 2 different things. Quantity discount will save you more than a cash discount. They must love you if they only have to give you the cash discount.

Frankly, if you are buying that much you would be better off opening an account with the lumberyard and negotiating a discounted price for everything. Then depending on the business they might give you an additional 2% discount for payment within 10 days. Actually, if you are buying that amount of lumber, you would be better off not buying from a lumberyard but instead opening an account with a lumber distributor. Cash isn't king when it comes to business, accounts are.

Once again, if you are paying $10,000 with actual cash then they are reporting your payment to the IRS if they are following the law.

[CFM]

Are they giving you a cash discount or a quantity discount? Those are 2 different things. Quantity discount will save you more than a cash discount. They must love you if they only have to give you the cash discount.

Frankly, if you are buying that much you would be better off opening an account with the lumberyard and negotiating a discounted price for everything. Then depending on the business they might give you an additional 2% discount for payment within 10 days. Actually, if you are buying that amount of lumber, you would be better off not buying from a lumberyard but instead opening an account with a lumber distributor. Cash isn't king when it comes to business, accounts are.

Once again, if you are paying $10,000 with actual cash then they are reporting your payment to the IRS if they are following the law.

Both. If I buy a dozen 2x4x104 5/8" pre cut studs, I don't get a volume discount but they give me a better price for cash. The quantity discounts don't usually apply to small orders.

Paying cash is a discounted price. Cash is king when you can pay the bill, get the same price as what you're saying with an account, and you don't have to concern yourself with having to keep up with paying later.

Do you consider a check the same as actual $100 bills? The money is there to back it up when it's written and not having it would mean they could report me to the police for knowingly writing bad checks.

[Poor Richard Saunders]

Both. If I buy a dozen 2x4x104 5/8" pre cut studs, I don't get a volume discount but they give me a better price for cash. The quantity discounts don't usually apply to small orders.

Paying cash is a discounted price. Cash is king when you can pay the bill, get the same price as what you're saying with an account, and you don't have to concern yourself with having to keep up with paying later.

Do you consider a check the same as actual $100 bills? The money is there to back it up when it's written and not having it would mean they could report me to the police for knowingly writing bad checks.

So, you aren't using cash. OK, got that one. It seems your claims of "pulling out cash" were nonsense just as I suspected.

The thing is if you have an account at a normal lumberyard they give you quantity discounts for everything because your yearly volume earns that discount. Your account rep looks at it and says, he buys $10,000 worth of studs every year so our standard price for him is $6.40 per stud vs the $7.00 normal price. They then charge you $6.40 per stud if you buy one or if you buy 100. Then they would bill your account and send you a monthly invoice. Many businesses like lumberyards then offer a further 2% reduction if you pay within 10 days instead of the 30 days.

Having money there to back up a check is no different than having money there to back up a credit card. The only difference is when you use the card you get cash back.

[CFM]

So, you aren't using cash. OK, got that one. It seems your claims of "pulling out cash" were nonsense just as I suspected.

The thing is if you have an account at a normal lumberyard they give you quantity discounts for everything because your yearly volume earns that discount. Your account rep looks at it and says, he buys $10,000 worth of studs every year so our standard price for him is $6.40 per stud vs the $7.00 normal price. They then charge you $6.40 per stud if you buy one or if you buy 100. Then they would bill your account and send you a monthly invoice. Many businesses like lumberyards then offer a further 2% reduction if you pay within 10 days instead of the 30 days.

Having money there to back up a check is no different than having money there to back up a credit card. The only difference is when you use the card you get cash back.

Where did I say I pulled out cash? Quote me.

You really have no clue how things work so stop pretending.

Having money to back up a check is quite different than promising you'll have it when the credit card bills comes due. A bird in the hand (cash in this case) is worth two in the bush (promise to pay at a later date with cash that may or may not be there). Just how many people have gotten into credit card debt because they promised to pay a bill and couldn't? How many that paid cash, even through a valid check, got into trouble because the bill was paid?

[TexanManWithPlans]

Then you weren't using the general you.

Caught you, boy. It means I'm way smarter than you. I baited the hook and you bit it like a stupid fish.

Are you playing dumb? I'm asking if it applies to you. How would I possibly know whether or not you're financially responsible?

[CFM]

Are you playing dumb? I'm asking if it applies to you. How would I possibly know whether or not you're financially responsible?

You didn't ask a thing. You made a claim.

[TexanManWithPlans]

Where did I say I pulled out cash? Quote me.

You really have no clue how things work so stop pretending.

Having money to back up a check is quite different than promising you'll have it when the credit card bills comes due. A bird in the hand (cash in this case) is worth two in the bush (promise to pay at a later date with cash that may or may not be there). Just how many people have gotten into credit card debt because they promised to pay a bill and couldn't? How many that paid cash, even through a valid check, got into trouble because the bill was paid?

Having money to back up a check is literally no different than having the money to back up a credit card charge. I pay off my credit cards as soon as the charge posts to my account. All my credit cards always report monthly with $0 balances.