Credit card with a straight simple cash back (personal finance)

[Onkel Neal]

Ahoy, I copied your thread with a new subject, I wanted to address the credit card aspect of your discussion.

I stopped using credit cards 20 years ago, instead using my debit card. But I began to worry about fraud, and any fraud on my debit card is fraud involving my checking balance. So I started using a credit card with high % cash back, and set it to pay the balance each month, so I'm not incurring any interest or charges. And if any fraud takes place on the credit card, well, that's Visa's money, not mine.

Crazy that they offer cash back and they don't get any $$ from me.

Also, while on the subject of personal finances, I moved all my cash savings from my local credit union where the interest rate is .1% to Goldman Sachs Marcus bank, with 2.25%. It a REAL difference in interest added to the account.

More Americans are finally moving cash to online banks for higher interest rates
https://finance.yahoo.com/news/more-...204337577.html

Americans are finally getting the memo: You don’t have to settle for microscopic bank savings rates anymore.

With short-term interest rates rising broadly across the economy the past few years, a small but growing share of customers are moving their cash to online banks that pay higher yields on savings and money market accounts. In the past 24 months, 21% of Americans have transferred their money to an online bank that pays at least 2% interest, according to a NerdWallet online survey of 2,012 adults for USA TODAY earlier this month.

Before that, only 6% of Americans had their savings account at an online-only bank, such as Ally, E-Trade or Discover.

“If you work hard to save any money, you want to make sure it’s there when you need it and that it has the same buying power,” says Greg McBride, chief financial analyst of Bankrate.com. A 2% savings rate simply lets consumers keep up with annual inflation that has been running around 2%.

So why haven’t traditional banks had to raise their rates to stay competitive? They’re flush with deposits and don’t need to attract more to make loans.