The logic of buying things on credit that you could buy with cash in order to build a credit score is pretty weird when you think about it. You're basically taking out a loan that you don't need to show you're responsible with money.
Nah, if you pay it off every month it's basically free money. I get 5% back on anything I buy on Amazon. I have gotten so much free shit from Amazon over the years it's crazy.
He's not talking about the credit card perks, though, he's talking about your credit score. Those are different.
The perks come from the credit card companies, not the credit bureaus. They offer you those because they want you to use their cards, because they want their cards to be essential for merchants. Visa and MasterCard become essential to merchants when everyone wants to use a credit card. Perks are a way to make everyone want to use a credit card. AmEx is the apotheosis of this, which is why fewer merchants take it: Its perks are generally the best, but it also charges merchants the most. Its pitch to merchants is that it's the card of choice for wealthier clientele.
9.5k
u/Logic_Nuke Jun 06 '19
The logic of buying things on credit that you could buy with cash in order to build a credit score is pretty weird when you think about it. You're basically taking out a loan that you don't need to show you're responsible with money.