Vyralize: Yesterday a press release was issued for the rather poorly named Wocket™, set to release in Q1 2014. What is this new-fangled contraption you may be asking? Well it’s not a ‘next generation wallet’ as it is being marketed. Nor is it a locket. It’s not even a lesser known Dr. Seuss character. In fact, what we have here ladies and gentlemen, is a scanner and all-in-one credit card.
Who uses CC's anymore? Credit is like a SCAM...
The only scam is people think the banks money is theirs and what i use to buy stuff, a debit card which has my own money in it, not the banks.
Lol only idiots with no self-control think credit cards are 'scams', I run an online store where I buy my stock on a credit card. I get 30 days to pay it off with no interest, which means I can generate bank interest for that one month and on top of that it equates to enough points to get me a $100 gift card at my local department store.
So what, interest applied on $1000s of dollars I get to keep in the bank first and then a complimentary $100 gift card, sorry there are only winners here.
Still a long time left when we can call em a thing of past
Funny i was reading a book about finances just recently and it says that most people don't pay it off in 30 days and those cash back deals aren't usually worth it. If you just do the numbers yourself you can see. For example most cards offer 1, 2, or 5% on cash back up to 1500 in purchases. Lets say you invested the money you would have spent on the card for a few years the average return will beat that including inflation. Credit is useful however it is not needed. Most true wealthy people use cash.
Check out the book "Total Money make over" I thought it was an interesting read and it has common sense accounting.