Comments on: 3 Reasons Why Paying With Cash Hurts You in the Long Term http://www.richcreditdebtloan.com/3-reasons-why-paying-with-cash-hurts-you-in-the-long-term/ Wealth, Leverage, Money, and Cash Flow Mon, 22 Feb 2010 03:59:20 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Wes http://www.richcreditdebtloan.com/3-reasons-why-paying-with-cash-hurts-you-in-the-long-term/comment-page-1/#comment-3161 Wes Mon, 15 Feb 2010 02:33:36 +0000 http://www.richcreditdebtloan.com/?p=56#comment-3161 Your reasons for having some debt do not make sense to me. People can buy a house with cash, without using credit. If you're looking at a house that's going for $200k & offer $175k in cash, they'll accept, believe me. And some say that if you can't pay in cash, you can't afford it. It's that simple. Hospitals will not turn you away if you cannot afford a procedure. Many will take payments you can afford. Going into debt to pay the bill is obviously paying more than you can afford, by definition. Everyone can make money without going into debt. A simple 401k plan for example. I do not see any legitimate reason to go into debt. Your reasons for having some debt do not make sense to me.

People can buy a house with cash, without using credit. If you’re looking at a house that’s going for $200k & offer $175k in cash, they’ll accept, believe me. And some say that if you can’t pay in cash, you can’t afford it. It’s that simple.

Hospitals will not turn you away if you cannot afford a procedure. Many will take payments you can afford. Going into debt to pay the bill is obviously paying more than you can afford, by definition.

Everyone can make money without going into debt. A simple 401k plan for example.

I do not see any legitimate reason to go into debt.

]]> By: Financial Samurai http://www.richcreditdebtloan.com/3-reasons-why-paying-with-cash-hurts-you-in-the-long-term/comment-page-1/#comment-2604 Financial Samurai Sat, 21 Nov 2009 14:19:47 +0000 http://www.richcreditdebtloan.com/?p=56#comment-2604 Paying with cash doesn't HURT your credit rating, it just doesn't help. Cash is great for those who lack the discipline for CC's. Paying with cash doesn’t HURT your credit rating, it just doesn’t help.

Cash is great for those who lack the discipline for CC’s.

]]> By: Tom http://www.richcreditdebtloan.com/3-reasons-why-paying-with-cash-hurts-you-in-the-long-term/comment-page-1/#comment-414 Tom Fri, 21 Nov 2008 19:47:07 +0000 http://www.richcreditdebtloan.com/?p=56#comment-414 I love the post and completely agree. I can understand why some people live solely on cash but if you're that disciplined to live off cash, why can't you just take advantage of the credit card rewards? It's not hard to use a credit card. Just treat it like cash and manage your spending and you should be fine. I love the post and completely agree. I can understand why some people live solely on cash but if you’re that disciplined to live off cash, why can’t you just take advantage of the credit card rewards?

It’s not hard to use a credit card. Just treat it like cash and manage your spending and you should be fine.

]]> By: Dan http://www.richcreditdebtloan.com/3-reasons-why-paying-with-cash-hurts-you-in-the-long-term/comment-page-1/#comment-413 Dan Fri, 21 Nov 2008 17:52:32 +0000 http://www.richcreditdebtloan.com/?p=56#comment-413 I think you're #1 needs some clarification. Yes, a person with no lines of credit at all would benefit from a few cards. But to be clear, there is absolutely no reason one needs to maintain a balance with those cards and pay interest charges. Pay the card off in full every month, and one gets all the benefit to the credit score they need while never actually paying to borrow money. (In fact, get a good cashback card, and you'll get paid for not using cash.) The statement, "In order to keep your credit rating high, you are going to need to have a little debt." doesn't really make that clear. There's no reason that anyone has to pay interest to improve their credit. I think you’re #1 needs some clarification. Yes, a person with no lines of credit at all would benefit from a few cards. But to be clear, there is absolutely no reason one needs to maintain a balance with those cards and pay interest charges. Pay the card off in full every month, and one gets all the benefit to the credit score they need while never actually paying to borrow money. (In fact, get a good cashback card, and you’ll get paid for not using cash.)

The statement, “In order to keep your credit rating high, you are going to need to have a little debt.” doesn’t really make that clear. There’s no reason that anyone has to pay interest to improve their credit.

]]> By: Prosper Roundup Longest Day of the Year Edition http://www.richcreditdebtloan.com/3-reasons-why-paying-with-cash-hurts-you-in-the-long-term/comment-page-1/#comment-160 Prosper Roundup Longest Day of the Year Edition Sun, 22 Jun 2008 23:59:53 +0000 http://www.richcreditdebtloan.com/?p=56#comment-160 [...] Rich Credit Debt Loan offers 3 Reasons Why Paying With Cash Hurts You in the Long Term [...] [...] Rich Credit Debt Loan offers 3 Reasons Why Paying With Cash Hurts You in the Long Term [...]

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