Comments on: Your relationship with credit cards?

By: Sudhir

Sudhir — Mon, 16 Jun 2008 22:46:29 +0000

I have 4 credit cards. I pay them in full every month. I have a rewards card that pays 1 percent to 3 percent on my purchases. So I try to expense most of my monthly bills and payments through this card and earn interest on my purchases. Thats cool ... dont you think?

By: Beau

Beau — Mon, 16 Jun 2008 22:46:08 +0000

My Credit Cards and I are dancing a Tango,

I am of the opinion that credit card usage, if done properly, can actually save you money. Many retail stores offer attractive financing offers for using their card. We recently purchased a television from Best Buy. By using their card, we received 0% financing for 36 months. We could have paid cash for the television, but why not use their money for three years at no cost? The trick is to know what you are getting into.

I do feel that enticing college students to take out credit cards should be illegal.

Beau,
Shreveport, LA

By: Wilbur Fudd

Wilbur Fudd — Mon, 16 Jun 2008 22:46:07 +0000

I only get cards that have no annual fee and earn money back or frequent flyer miles or points useful to purchase things I need or would otherwise purchase. I use one card exclusivily for internet purchases and another for daily use – gas, groceries, eating out, etc. I pay them off in full every month. They can be useful for in certain cases, like providing assistance in getting refunds when the item you purchased does not live up to expectations or for providing some extra protection when renting a car. The trick is to be disciplined in your use of them so you are able to pay in full and on time.

By: Randy

Randy — Mon, 16 Jun 2008 22:45:53 +0000

I love my credit cards. I use them for everything and always pay the entire balance at the end of the month. I get all sorts of free things. I use card rewards for rental cars, hotels, restaurants and airfare. In fact, my family and I have taken two vacations a year for 10 years and have paid 90% of the cost with reward points. Two years ago we spent 10 days in Aruba. Total out of pocket cost was about $100.
My only complaint is if I ever pay a bill late, I'm socked with about $80 in late charges and interest. Even if it's just 1 day.

By: Kevin

Kevin — Mon, 16 Jun 2008 22:45:45 +0000

I hate them but sometimes they are necessary for emergencies. They have created a whole new credit counseling industry though due to peoples foolish expenditures.

Kevin
Warren, MI

By: Carole Bouslaugh

Carole Bouslaugh — Mon, 16 Jun 2008 22:45:25 +0000

I was layed off 4 1/2 years ago do to outsourcing. I saw the writing on the whiteboard even though i was assured I was safe. Well, I stashed every dime in my savings cuz I knew the shoe was going to drop. I paid off my credit cards and do not use them, and because of this my excellent credit rating has started to go south because I am still unemployed even though I search the bordzzzz everyday. I don't care what the Talking Heads Say, the economy is bad, the job market is tough.

What's one to do? I'm a 54 year old single female living off my retirement.

Carole in Edmonds Washington

By: Aaron

Aaron — Mon, 16 Jun 2008 22:45:16 +0000

Jack, I am terrible with credit cards and currently have 3 that are all delinquent and my credit rating is pretty much destroyed. However, despite my terrible history, I continue to get more credit card offers! At some point you have to start putting the blame on the credit card companies deliberately targeting "at risk" consumers. These companies charge ridiculous interest rates to consumers that they know don't understand how credit cards work, and when the inevitable tough times occur, they can legally harass their "customers" with daily phone calls. It's modern day slavery of the naive and stupid, our bankruptcy laws should be loosened, not tightened as the fat cat republicans want!

Anonymous,
California

By: scott

scott — Mon, 16 Jun 2008 22:45:16 +0000

My relationship with my CC is a necessary evil.

I am carrying a balance of about 15gs. I am paying it off aggressively. I just sold my car so I can pay this off faster.

Having spent my late teens and last 10 years living in San Francisco and Los Angeles completely independent of my family, there were some expenses that were just necessary: Lawyers, moving fees, medical supplies, school tuition and books, food when RENT took all my money. Of course, some it it was stupid spending that was unnecessary.

There have been stressful times with this, but considering where I would be with out it (lawyerless, no college graduation), I am glad my credit was there when it was. Also, it feels good when my landlords see my credit score is better than their own...punks!

My highest interest is 9.9, and my lowest is 7.4.

By: Sonia

Sonia — Mon, 16 Jun 2008 22:44:51 +0000

I have 2 credit cards: one for me and one for my job. I do not and have ot kept balances one either of them since 1992. That was when I decided to live within my means. If I needed more oney to buy something, I saved OR I got better jobs and worked more.

By: Kristi

Kristi — Mon, 16 Jun 2008 22:44:32 +0000

I am 27 years old and have never owned a credit card, I pay everything using debit. I have heard enough horror stories from everyone around me to know that I am not financially ready to handle the responsibility of using one. I'm not bothered by the fact that I cannot own a home or get auto loans. At 27 what would I know about owning a home anyways? For now I am acquiring good credit through my parents and practicing good budget with my debit account. Unlike most of my friends, I don't have debt. Which is good considering the current state of the economy