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| View Poll Results: How many credit cards do you have? | |||
| 0 |    | 13 | 56.52% |
| 1-2 |    | 8 | 34.78% |
| 3-4 |    | 0 | 0% |
| 5+ |    | 2 | 8.70% |
| Voters: 23. You may not vote on this poll | |||
Views: 2318 | Replies: 39
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Join Date: Nov 2004
Location: Netherlands
Posts: 5,752
Reputation: 
Rep Power: 19
Solved Threads: 200
If you have a decent creditcard it is charged to your bank account every month, and has a low limit that's no more than you can (normally, if you don't do stupid things) pay off each month.
Yes, many people get tons of credit cards to lead a high life on credit until the creditors catch up with them (at which point they have themselves defaulted, washing all that bad credit away instantly).
That shows it's too easy to get multiple cards, not that the cards themselves are "evil".
They serve a purpose, and most people can handle that purpose without getting themselves into trouble.
In the more than a decade I've had a creditcard I've never once been unable to settle the account before interest charges began (so always at the end of the running month).
That takes just a little bit of discipline, and just a little bit of common sense in your spending patterns.
Don't treat that credit limit as extra income (as some people do), treat it as a deduction from your income. Effectively treat your creditcard as pulling money out of your bank account immediately without it effecting the interest you earn on that bank account.
Yes, many people get tons of credit cards to lead a high life on credit until the creditors catch up with them (at which point they have themselves defaulted, washing all that bad credit away instantly).
That shows it's too easy to get multiple cards, not that the cards themselves are "evil".
They serve a purpose, and most people can handle that purpose without getting themselves into trouble.
In the more than a decade I've had a creditcard I've never once been unable to settle the account before interest charges began (so always at the end of the running month).
That takes just a little bit of discipline, and just a little bit of common sense in your spending patterns.
Don't treat that credit limit as extra income (as some people do), treat it as a deduction from your income. Effectively treat your creditcard as pulling money out of your bank account immediately without it effecting the interest you earn on that bank account.
As people are clearly allowed to attack me but I'm not allowed to defend myself, I no longer post to this site.
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Join Date: Mar 2007
Posts: 1,449
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Rep Power: 4
Solved Threads: 8
You are a wise man jwenting, but 95% of the people on this earth are not that wise!
I upped my sanitary measures, up yours!
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Join Date: Aug 2005
Posts: 1,196
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Rep Power: 6
Solved Threads: 67
I am too paranoid to have one. I am afraid someone else would abuse it and I get the bill.
drink her pretty
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Join Date: Nov 2004
Location: Netherlands
Posts: 5,752
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Rep Power: 19
Solved Threads: 200
that's where creditcards are better than debit cards...
The CC company insures you against that (minus the first few hundred dollars usually), a bank doesn't insure you if someone plunders your bank account.
The CC company insures you against that (minus the first few hundred dollars usually), a bank doesn't insure you if someone plunders your bank account.
As people are clearly allowed to attack me but I'm not allowed to defend myself, I no longer post to this site.
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Join Date: Apr 2004
Posts: 3,755
Reputation: 
Rep Power: 17
Solved Threads: 147
Revolving credit:
Get several accounts that have similar maxes and free balance transfers. Pay one with the other and keep the cycle going.
Get several accounts that have similar maxes and free balance transfers. Pay one with the other and keep the cycle going.
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Join Date: May 2007
Location: Ireland
Posts: 1,761
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Solved Threads: 34
Hahaha. I like it, Dave.
Oddly enough I got an email today from 'Paypal', asking me to 'Verify my account' with them... However I have never used their service so, obviously I didn't reply or do anything with it. Anyone ever have this happen to them. I wonder if this thread told some phishers/spammers that I have a credit card ...
Oddly enough I got an email today from 'Paypal', asking me to 'Verify my account' with them... However I have never used their service so, obviously I didn't reply or do anything with it. Anyone ever have this happen to them. I wonder if this thread told some phishers/spammers that I have a credit card ...
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Join Date: Aug 2005
Posts: 1,196
Reputation:
Rep Power: 6
Solved Threads: 67
Don't answer the Paypal thing, it's a scam!
drink her pretty
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Join Date: May 2007
Location: USA
Posts: 3,090
Reputation:
Rep Power: 15
Solved Threads: 307
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Originally Posted by jwenting 
If you have a decent creditcard it is charged to your bank account every month, and has a low limit that's no more than you can (normally, if you don't do stupid things) pay off each month.
Yes, many people get tons of credit cards to lead a high life on credit until the creditors catch up with them (at which point they have themselves defaulted, washing all that bad credit away instantly).
That shows it's too easy to get multiple cards, not that the cards themselves are "evil".
They serve a purpose, and most people can handle that purpose without getting themselves into trouble.
In the more than a decade I've had a creditcard I've never once been unable to settle the account before interest charges began (so always at the end of the running month).
That takes just a little bit of discipline, and just a little bit of common sense in your spending patterns.
Don't treat that credit limit as extra income (as some people do), treat it as a deduction from your income. Effectively treat your creditcard as pulling money out of your bank account immediately without it effecting the interest you earn on that bank account.
++
Exaclty. Used responsibly, credit cards are not evil at all and have many benefits over cash.
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Join Date: Sep 2004
Posts: 6,515
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Solved Threads: 489
>I am strictly a cash person! Credit cards are evil, an easy way to trap stupid people!
I think that makes you a stupid person. You have to build good credit if you want to buy a car, or a house, or rent an apartment. An easy way to do that is to get a credit card and pay it off in full every month. If you find that you can't pay it off every single time, you're abusing the card and need to adjust how you use it. Simple.
I think that makes you a stupid person. You have to build good credit if you want to buy a car, or a house, or rent an apartment. An easy way to do that is to get a credit card and pay it off in full every month. If you find that you can't pay it off every single time, you're abusing the card and need to adjust how you use it. Simple.
I'm here to prove you wrong.
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