Credit Cards

[mitt]

i have used my debit card for several years as my sole source of non cash payment. it has always worked for me for rentals/hotels/etc...

of course, this method requires that you only spend what you already have.....

Credit cards are typically better for fraud protection and charge disputes than debit cards...

I need to look at AMEX, since we don't carry balances ever, my rewards suck, and they are getting worse.

mitt

[ducatiz]

Credit cards are typically better for fraud protection and charge disputes than debit cards...

I need to look at AMEX, since we don't carry balances ever, my rewards suck, and they are getting worse.

mitt

amex is great.  i use a business platinum which i am happy to pay $300/year for because i get tons of benefits -- free companion tickets, full access to all airport lounges, reward points, automatic travel and rental insurance, etc etc.. lots of benefits.

i figure the ~$25/month is worth all that.  the gold and regular business cards are cheaper annually but fewer benefits.

[erkishhorde]

I have never really understood how credit works. Like if you pay the full amount due every time on time you get no improvement in credit score but if you miss a payment by 1 day but pay the full amount they kick you in the ass and the only way to get your score back up is to make the minimum payment for a little while so that they can rape you on the interest. That's just stupid.

[KnightofNi]

i have used my debit card for several years as my sole source of non cash payment. it has always worked for me for rentals/hotels/etc...

of course, this method requires that you only spend what you already have.....

to pay for a rental car i can use the debit card.
to pick up the rental they demand a credit card.

i rented a car in germany with a US passport, drivers lic, and debit card without a problem. they didn't even put a massive hold on the card.

[cyrus buelton]

I tried to use my debit card to pay for a rental....

and they said they would have to pull my credit report....

F*ck that  

I don't see anything wrong with that.

It is just like some bars run a pre-authorization to see if you have available funds.

[minnesotamonster]

Never had a credit card and don't plan on ever getting one. Same for the wife. The only benefit I can see to having one is for emergencies. But that's what a savings account is for right? Or do people not know what that is anymore?

[kopfjäger]

I have 1 Credit Card. I use it for airfare, car/hotel rentals. You can't pay cash to rent a car. 

[NAKID]

Best Buy just hit me with lowering my limit to a THIRD of what it was. 

Those make the beast with two backsers did the same thing to me. But I had a zero account balance. The card has been paid of for 6+ months and they lowered the limit! WTF? It wasn't an old account so I closed it...

[derby]

I have never really understood how credit works. Like if you pay the full amount due every time on time you get no improvement in credit score but if you miss a payment by 1 day but pay the full amount they kick you in the ass and the only way to get your score back up is to make the minimum payment for a little while so that they can rape you on the interest. That's just stupid.

yup, you don't understand it.

[Triple J]

Never had a credit card and don't plan on ever getting one. Same for the wife. The only benefit I can see to having one is for emergencies. But that's what a savings account is for right? Or do people not know what that is anymore?

Lots of benefits:

--Work expenses
--Rewards programs (wife and I always stay at Westins or Ws on vacation...always free due to her work expenses and the AMEX reward program )
--On-line purchases...putting your debit card # out there makes me nervous
--Travel out of the country (carrying large sums of cash sucks...and a debit card can be worthless sometimes, although not as much now that most are linked to Visa/MC)

The key to credit cards is don't buy anything you can't afford without them.

[cyrus buelton]

Don't flame me.........

Credit Cards are brilliant tools. They really are. If I am getting 3% cash back, rewards points for airfare, etc, etc.

Why not have one?

The reason people won't is because they can't control their personal spending.

My bill comes due on the 11th of each month; I pay it on the 11th of each month.

I spent the money I could afford to spend.



Best Buy are a bunch of idiots. If you spend over xxx.xx dollars they give you 36 months no interest.

Seriously?

I'll use your money to buy what I want and dump the cash I could have spent into a CD for x amount of months. That CD comes due, I pay the balance (after making my stupid 15$ mininum payment a month) and move on with my life.


Credit can be used to benefit your life. It just depends on how you use it.


Don't buy what you can't afford to pay for. What a novel concept. Unfortunately, Americans don't do that anymore and it is sad.

[Bick]

lowering my limit to a THIRD of what it was. 

A lot of banks are lowering limits, especially people that are not using their cards much or not carrying balances so they can give higher limits to those that do carry high balances.

As many others have already said, use a card just for the fraud protection, and don't charge more than you can pay off right away.

[the_Journeyman]

Credit Cards are brilliant tools. They really are. If I am getting 3% cash back, rewards points for airfare, etc, etc.

I stepped on board my last cruise with a $500 on-board credit.  I just pay all my bills on it and write one check every month instead of several.  All nicely within budget.

Best Buy are a bunch of idiots. If you spend over xxx.xx dollars they give you 36 months no interest.

Furnished two rooms like this.  Never paid a dime of interest ~

Jm

[cokey]

didn't read all but i know when my rate was about to go up i had the right to "opt out".. if so, when you opt out your rate stays the same and they cancel your card that month the rate will change...  i've still got almost 20k in cc's i gotta pay off.. ugh..

[KnightofNi]

Credit can be used to benefit your life. It just depends on how you use it.


Don't buy what you can't afford to pay for. What a novel concept. Unfortunately, Americans don't do that anymore and it is sad.

the reason i got into trouble with my CC was because i didn't make enough to live and couldn't find a job that paid enough for a while.

i was working 2 jobs at a time trying to make ends meet, and i couldn't. the card filled in where the job couldn't. i also paid off my student loans during the same time.