Comments on: Why I Use Credit Cards More and More (and What Would Make Me Return to Cash) http://www.pfadvice.com/2008/03/10/why-i-use-credit-cards-more-and-more-and-what-would-make-me-return-to-cash/ Bridging the gap between saving money and investing Fri, 10 Oct 2008 22:06:56 +0000 http://wordpress.org/?v=2.6.1 By: Lillian http://www.pfadvice.com/2008/03/10/why-i-use-credit-cards-more-and-more-and-what-would-make-me-return-to-cash/#comment-393008 Lillian Fri, 15 Aug 2008 15:49:44 +0000 http://www.savingadvice.com/blog/2008/03/10/102053_why-i-use-credit-cards-more-and-more-and-what-would-make-me-return-to-cash.html#comment-393008 I agree, if your going to spend the money anyways, why not get something for it. I agree, if your going to spend the money anyways, why not get something for it.

]]> By: N Lewis http://www.pfadvice.com/2008/03/10/why-i-use-credit-cards-more-and-more-and-what-would-make-me-return-to-cash/#comment-278169 N Lewis Mon, 07 Apr 2008 01:15:30 +0000 http://www.savingadvice.com/blog/2008/03/10/102053_why-i-use-credit-cards-more-and-more-and-what-would-make-me-return-to-cash.html#comment-278169 Written by: Patricia Posted on: March 11, 2008 at 7:56 am I completely agree with this post and use my credit cards the same way Shannon does. Personally, I don’t understand the allure of the debit card, which most people tend to favor over the credit card. For some, I suppose it helps them budget. However, it forces you to have extra cash sitting in a checking account doing nothing. I keep my checking account Think this might have got screwed up, tried copying original comment and can't back track will try again perhaps N Lewis I use my credit card exactly the same way. Leave it in the high yield ( a joke these days) savings and really get about 6 week free b4 paying on some purchases Written by: Patricia
Posted on: March 11, 2008 at 7:56 am
I completely agree with this post and use my credit cards the same way Shannon does.

Personally, I don’t understand the allure of the debit card, which most people tend to favor over the credit card. For some, I suppose it helps them budget. However, it forces you to have extra cash sitting in a checking account doing nothing. I keep my checking account

Think this might have got screwed up, tried copying original comment and can’t back track will try again perhaps
N Lewis

I use my credit card exactly the same way. Leave it in the high yield ( a joke these days) savings and really get about 6 week free b4 paying on some purchases

]]> By: N Lewis http://www.pfadvice.com/2008/03/10/why-i-use-credit-cards-more-and-more-and-what-would-make-me-return-to-cash/#comment-278165 N Lewis Mon, 07 Apr 2008 01:09:26 +0000 http://www.savingadvice.com/blog/2008/03/10/102053_why-i-use-credit-cards-more-and-more-and-what-would-make-me-return-to-cash.html#comment-278165 I do exactly like szlea and Courtni. I use a credit card, over a couple of dollars, anywhere that takes them. Am very frugal shopper and seldom give in to "I want" vs "I need" very very occasionally. The odd time will buy bit extra at a food store if is a good sale, take advantage of all seniors discounts when needed, and got 30% off a $10 order last week at the Bulk Barn, buying only what I went for. Rule #1 pay in FULL every month! Never have paid a cent of interest. My bank card has the usual points, but can food shop at their discount food store with them and doesn't take much to spend $20 even for one person occasionally. If I can get $100 or so free every year, that is money in my pocket Try keeping track of what you buy on sale vs regular price, points used etc and you will be amazed. Just make sure they are paid IN Full and ON TIME each month and you are beating the system. O yes- no fee cards only please! Nancy Lewis Toronto Canada I do exactly like
szlea and Courtni. I use a credit card, over a couple of dollars, anywhere that takes them. Am very frugal shopper and seldom give in to “I want” vs “I need” very very occasionally. The odd time will buy bit extra at a food store if is a good sale, take advantage of all seniors discounts when needed, and got 30% off a $10 order last week at the Bulk Barn, buying only what I went for.
Rule #1 pay in FULL every month! Never have paid a cent of interest. My bank card has the usual points, but can food shop at their discount food store with them and doesn’t take much to spend $20 even for one person occasionally.
If I can get $100 or so free every year, that is money in my pocket
Try keeping track of what you buy on sale vs regular price, points used etc and you will be amazed.
Just make sure they are paid IN Full and ON TIME each month and you are beating the system. O yes- no fee cards only please!
Nancy Lewis
Toronto Canada

]]> By: katie http://www.pfadvice.com/2008/03/10/why-i-use-credit-cards-more-and-more-and-what-would-make-me-return-to-cash/#comment-267034 katie Sun, 16 Mar 2008 23:44:10 +0000 http://www.savingadvice.com/blog/2008/03/10/102053_why-i-use-credit-cards-more-and-more-and-what-would-make-me-return-to-cash.html#comment-267034 Right on Shannon! My husband and I have been using our no-fee, cashback Visa for every expense that dosen't charge a "convenience fee." We always pay on time so we have no interest or fees. Last year we earned 300.00 just for using the card! Right on Shannon! My husband and I have been using our no-fee, cashback Visa for every expense that dosen’t charge a “convenience fee.” We always pay on time so we have no interest or fees. Last year we earned 300.00 just for using the card!

]]> By: thehungrydollar.com http://www.pfadvice.com/2008/03/10/why-i-use-credit-cards-more-and-more-and-what-would-make-me-return-to-cash/#comment-265275 thehungrydollar.com Wed, 12 Mar 2008 21:03:29 +0000 http://www.savingadvice.com/blog/2008/03/10/102053_why-i-use-credit-cards-more-and-more-and-what-would-make-me-return-to-cash.html#comment-265275 I stopped using credit cards for anything other than emergencies a while back, but unknowingly replaced it with another problem. Debit card addiction! I would swipe my debit card for everything and not realize until it was too late, just how much I had spent. This caused me to start carrying cash. It's hard to ignore how much your spending when your wallets empty! It worked for me, but everyone's a little different. You have to find what works for you... I stopped using credit cards for anything other than emergencies a while back, but unknowingly replaced it with another problem. Debit card addiction! I would swipe my debit card for everything and not realize until it was too late, just how much I had spent. This caused me to start carrying cash. It’s hard to ignore how much your spending when your wallets empty! It worked for me, but everyone’s a little different. You have to find what works for you…

]]> By: Rico http://www.pfadvice.com/2008/03/10/why-i-use-credit-cards-more-and-more-and-what-would-make-me-return-to-cash/#comment-265099 Rico Wed, 12 Mar 2008 12:42:01 +0000 http://www.savingadvice.com/blog/2008/03/10/102053_why-i-use-credit-cards-more-and-more-and-what-would-make-me-return-to-cash.html#comment-265099 Credit Cards are just another middle man focused on relieving the consumer of their money. It's just not all out in the open. Merchants pass all of their fees and other credit card processing costs on to you. The credit card company than fools you into believing that you are receiving an incentive for using their card when in fact the incentive is not to use cash because you are ultimately getting less for you money with the built in credit card processing fees. Cash usage will gradually as more and more consumers become wise to this. Credit Cards are just another middle man focused on relieving the consumer of their money. It’s just not all out in the open. Merchants pass all of their fees and other credit card processing costs on to you. The credit card company than fools you into believing that you are receiving an incentive for using their card when in fact the incentive is not to use cash because you are ultimately getting less for you money with the built in credit card processing fees. Cash usage will gradually as more and more consumers become wise to this.

]]> By: Christina http://www.pfadvice.com/2008/03/10/why-i-use-credit-cards-more-and-more-and-what-would-make-me-return-to-cash/#comment-264965 Christina Wed, 12 Mar 2008 04:14:31 +0000 http://www.savingadvice.com/blog/2008/03/10/102053_why-i-use-credit-cards-more-and-more-and-what-would-make-me-return-to-cash.html#comment-264965 What brought me to cash were the reduction of grace periods, introduction of binding arbitration, and default pricing. I read the terms and conditions agreement. The way I see it, if MY credit record is improving: from a $2000 initial limit to $67500, and getting rock-bottom lowest mortgage rates, and the credit card company still have to introduce the garbage 20-day grace periods, binding arbitration and default pricing to my terms and conditions agreement, it's not because **I**'ve done anything wrong or am not honoring the agreement. I use a credit card, but through my credit union, which has the good sense not to push that kind of terms and conditions agreement on me. 25-day grace period, average daily cycle billing, and no binding arbitration. Viva le consumer! What brought me to cash were the reduction of grace periods, introduction of binding arbitration, and default pricing. I read the terms and conditions agreement. The way I see it, if MY credit record is improving: from a $2000 initial limit to $67500, and getting rock-bottom lowest mortgage rates, and the credit card company still have to introduce the garbage 20-day grace periods, binding arbitration and default pricing to my terms and conditions agreement, it’s not because **I**’ve done anything wrong or am not honoring the agreement.

I use a credit card, but through my credit union, which has the good sense not to push that kind of terms and conditions agreement on me. 25-day grace period, average daily cycle billing, and no binding arbitration. Viva le consumer!

]]> By: Hez http://www.pfadvice.com/2008/03/10/why-i-use-credit-cards-more-and-more-and-what-would-make-me-return-to-cash/#comment-264956 Hez Wed, 12 Mar 2008 03:14:03 +0000 http://www.savingadvice.com/blog/2008/03/10/102053_why-i-use-credit-cards-more-and-more-and-what-would-make-me-return-to-cash.html#comment-264956 Although I mostly agree that it's the individual's responsibility to know what they're signing up for when getting and using their credit card, I think it's too nonchalant to say it's simply a matter of people not bothering to read the fine print. The fine print is purposely difficult to understand (important bits are buried under a ton of legalese, the names of services get changed), which makes it easy for those lacking financial skills to get in over their heads. Even people who are financially savvy can get burned. Although I mostly agree that it’s the individual’s responsibility to know what they’re signing up for when getting and using their credit card, I think it’s too nonchalant to say it’s simply a matter of people not bothering to read the fine print. The fine print is purposely difficult to understand (important bits are buried under a ton of legalese, the names of services get changed), which makes it easy for those lacking financial skills to get in over their heads. Even people who are financially savvy can get burned.

]]> By: Hilary http://www.pfadvice.com/2008/03/10/why-i-use-credit-cards-more-and-more-and-what-would-make-me-return-to-cash/#comment-264950 Hilary Wed, 12 Mar 2008 02:50:26 +0000 http://www.savingadvice.com/blog/2008/03/10/102053_why-i-use-credit-cards-more-and-more-and-what-would-make-me-return-to-cash.html#comment-264950 I recommend watching the documentary "Maxed Out on Debt" if you think it's always the person's fault. Grigory, I know you mean well but you have obviously never been in debt and never seen hard times... telling a person how you've made all the right decisions and how they haven't doesn't help them at all, and it shows how privileged (and oblivious to that privilege) you are. For example, you said you were able to get a credit card with rewards without any credit history. If you weren't a college student, however, there is no way you could get a credit card like that - instead, you would have to back it with a deposit and pay an annual fee. The reason you were able to get one as a college student is because banks assume that college-student-parents will bail them out if they get in debt. This is just one example of your privilege that you weren't acknowledging... I recommend watching the documentary “Maxed Out on Debt” if you think it’s always the person’s fault.

Grigory, I know you mean well but you have obviously never been in debt and never seen hard times… telling a person how you’ve made all the right decisions and how they haven’t doesn’t help them at all, and it shows how privileged (and oblivious to that privilege) you are. For example, you said you were able to get a credit card with rewards without any credit history. If you weren’t a college student, however, there is no way you could get a credit card like that - instead, you would have to back it with a deposit and pay an annual fee. The reason you were able to get one as a college student is because banks assume that college-student-parents will bail them out if they get in debt. This is just one example of your privilege that you weren’t acknowledging…

]]> By: Grigory (rhymes with "glory" :) ) http://www.pfadvice.com/2008/03/10/why-i-use-credit-cards-more-and-more-and-what-would-make-me-return-to-cash/#comment-264927 Grigory (rhymes with "glory" :) ) Wed, 12 Mar 2008 01:08:57 +0000 http://www.savingadvice.com/blog/2008/03/10/102053_why-i-use-credit-cards-more-and-more-and-what-would-make-me-return-to-cash.html#comment-264927 2 Christina: "It’s **NEVER** the credit card company’s fault. Bollocks, I say." So are you saying it's *always* the credit card company’s fault? Trust me, if people were more responsible and didn't get their cards maxed out (like Gina), they would be fine. You're an adult, so behave accordingly - don't buy things you can't pay for, and make all your payments on time, and you'll be just fine. :) 2 Christina:
“It’s **NEVER** the credit card company’s fault. Bollocks, I say.”

So are you saying it’s *always* the credit card company’s fault? Trust me, if people were more responsible and didn’t get their cards maxed out (like Gina), they would be fine. You’re an adult, so behave accordingly - don’t buy things you can’t pay for, and make all your payments on time, and you’ll be just fine. :)

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