Walmart no longer accepts Visa.

[Maxx Mazda]

i guess, I was just always raised to only spend money that you have and not to use credit cards if possible. I got into a lot of trouble with my first card when I was 18 and learned a valuable lesson.

Most of the cards that offer points are for travel, and since I work for an airline and travel for a living, it really doesn't benefit me at all. Why use points that I had to spend $400 to collect for a free hotel night, when my company discounted rate is $55?

I see the "point" in saying that they're easy to collect, but it's just not how I was brought up. In fact, my current visa has a low interest rate (11%) but I had to sacrifice being able to collect points to get that. (RBC signature visa)

[bjstare]

I don't think you do see the point haha.

If you pay your card off at every billing cycle, the interest rate is irrelevant. I was also raised to never spend money I don't have, but that is completely independent on my method of spending it (with a credit card, debit card, cash, cheque, etc.). And it's not like you "bought" the points for $400, you were spending the money anyways...

[eglove]

^ shouldn't carry a balance anyways. I always clear mine every three weeks. No interest and you collect all the points. Better purchase protection as well vs debit

[Sugarphreak]

...

[A790]

Originally posted by Maxx Mazda
i guess, I was just always raised to only spend money that you have and not to use credit cards if possible. I got into a lot of trouble with my first card when I was 18 and learned a valuable lesson.

Most of the cards that offer points are for travel, and since I work for an airline and travel for a living, it really doesn't benefit me at all. Why use points that I had to spend $400 to collect for a free hotel night, when my company discounted rate is $55?

I see the "point" in saying that they're easy to collect, but it's just not how I was brought up. In fact, my current visa has a low interest rate (11%) but I had to sacrifice being able to collect points to get that. (RBC signature visa)

I'm on track to get around $1,500 cash back from mu Scotia Momentum card. I've never carried a balance, never paid them a dime in interest.

Every purchase possible goes on the card. I routinely buy a single coffee/etc. with it. Why not?

The fact that I get the cashback in November is pretty tops too. A nice little infusion just before Christmas

[lasimmon]

Originally posted by eglove
^ shouldn't carry a balance anyways. I always clear mine every three weeks. No interest and you collect all the points. Better purchase protection as well vs debit

Whether you clear every 3 weeks or at the end of your billing cycle, there is no interest so it is irrelevant.

[G-ZUS]

Originally posted by Maxx Mazda
i guess, I was just always raised to only spend money that you have and not to use credit cards if possible. I got into a lot of trouble with my first card when I was 18 and learned a valuable lesson.

Most of the cards that offer points are for travel, and since I work for an airline and travel for a living, it really doesn't benefit me at all. Why use points that I had to spend $400 to collect for a free hotel night, when my company discounted rate is $55?

I see the "point" in saying that they're easy to collect, but it's just not how I was brought up. In fact, my current visa has a low interest rate (11%) but I had to sacrifice being able to collect points to get that. (RBC signature visa)

You pay for your discounted rate on your TD First Class Visa, then call Visa and use your points to cover that

[sabad66]

Originally posted by Masked Bandit


Points! You're missing out on the points man...lol

Our household uses MC like some people use debit. Everything, and I mean everything, goes on that card and then we just wipe it out at the end of the month. Anywhere from $3500 - $5000 in free travel a year.

you spend 175,000-250,000 on your CC every year (based on a 2% rewards card)? That's nuts. Unless you throw business expenses on there

[Inzane]

Originally posted by cjblair


I use my credit card for every purchase that I can (and always pay it off in full). It's effectively like a debit card for me, I don't use it for financing anything.

Why don't you want to get a rewards CC? Free money man. haha

Not just reward points. Extra purchase protection and even extended warranty in some cases.

My wife and disagree on this general point. She uses her debit card for most things and I prefer credit card. To me it makes sense to keep my bank account statements cleaner, and the credit card bill payment is a one liner on there. If I want to see specifics on purchase details I just open the visa statesment online and it's all there. Its like a sub-folder.

[bjstare]

Unless some person actually lacks the capacity to effectively manage their finances (granted, it seems like there are a shitload of people out there like that), there's zero logical reasons not to use a credit card.

[max_boost]

Credit cards are handy. The right cards gets you points, benefits & and if it gets compromised you can dispute it easily.

Debit is more of a hassle. the stress of seeing that money gone and having to wait, not fun.

Maxx Mazda just sounds like one of those dudes you can't sway so let's not bother haha

I love Walmart though, when things were tight for me at one point, they extended me a life line with their mastercard They really do approve everyone haha

[Canmorite]

No Visa and I refuse to shop at Walmart, so not directly impacted, but it will be interesting to see if there's a lot of backlash from their customers. I don't see this going over so well.

[Sugarphreak]

...

[msommers]

Rarely shop at Walmart, have more than just a VISA. Meh

[Masked Bandit]

Originally posted by sabad66

you spend 175,000-250,000 on your CC every year (based on a 2% rewards card)? That's nuts. Unless you throw business expenses on there

Some of each. But like others have said, $1.39 slurpee goes on the card. I haven't paid a dime of interest since we started implementing this strategy many years ago.

[Mixalot27]

There are a TON of posts on Facebook of people saying they will stop shopping at Walmart when they stop taking Visa. I wonder if Walmart will back down if the backlash is significantly larger than they expected. Obviously many of these people won't follow through on their threats anyways.

I noticed that Walmart is going to start by not accepting Visa in only three stores in Ontario. My guess is they are going to see how much of an impact it has on business in those 3 stores and then decide if they should roll it out nationally based on that.

I have both Visa and MC so I don't really care too much. I don't shop much at Walmart as I find they don't have very many good deals anymore, anyways. Most things I can find cheaper at Superstore or elsewhere.

The annoying thing about paying 5cents for bags, is that Walmart bags are by far the shittiest of any company out there. More often than not, the bottom of the bag breaks before I can get my purchase home.

[Maxx Mazda]

Woah! Didn't know there'd be so much backlash for using debit over credit haha

I've never really had a "rewards" card, only a low interest card with no rewards. Like I said, I was stupid when I was younger and got into a bit of a hole by being irresponsible with credit cards. I guess I kinda scared myself and learned to live on debit ever since.

As someone who truly doesn't know, what kinds of rewards are there really out there for someone who might spend let's say $500/mo on misc purchases? I understand some rewards are better than none, but for your average joe (keep in mind I don't need any sort of travel benefits) where will I see the best value?

[Sugarphreak]

...

[jwslam]

Originally posted by Maxx Mazda
As someone who truly doesn't know, what kinds of rewards are there really out there for someone who might spend let's say $500/mo on misc purchases? I understand some rewards are better than none, but for your average joe (keep in mind I don't need any sort of travel benefits) where will I see the best value?

Currently using the new Tangerine MC
https://www.tangerine.ca/en/spending...ard/index.html

It's cash back so you don't have to deal with rewards conversion.
1% on everything and 2% on select categories of your choice.
I have restaurants/gas/groceries.
You might want hotel/reocccuring bills /entertainment.
You can also choose to change them once a month.

It's awesome because it's all up to you!
No annual fee. Not that it matters to me but maybe you, the 20% interest seems to be on par with everyone else

[lasimmon]

Originally posted by Maxx Mazda
Woah! Didn't know there'd be so much backlash for using debit over credit haha

I've never really had a "rewards" card, only a low interest card with no rewards. Like I said, I was stupid when I was younger and got into a bit of a hole by being irresponsible with credit cards. I guess I kinda scared myself and learned to live on debit ever since.

As someone who truly doesn't know, what kinds of rewards are there really out there for someone who might spend let's say $500/mo on misc purchases? I understand some rewards are better than none, but for your average joe (keep in mind I don't need any sort of travel benefits) where will I see the best value?

Almost anything you want can be had with rewards. Either the item itself or gift cards to the stores that sell said item.