Comments on: A Life Without Debt: You Can Be Debt Free and Still Use Credit Cards

By: Nicola Dupont

Nicola Dupont — Tue, 01 Dec 2009 05:50:52 +0000

yes use credit cards,
leverage debt to pay debt.
I’m not against buying the LCD 62″ TV you paid $ 4000 and you got an item for $ 4000 dollars.

just get smart and don’t pay interest on top the price that is when you start getting in trouble, buying things and paying more in interest than the original value.

check movie maxed out will help to get an idea of the Credit Card industry

By: Chetwyn

Chetwyn — Fri, 05 Jun 2009 11:38:49 +0000

Thanks so much for this post. I’ve always been a cash-only supporter, but recently I’ve been grappling with whether or not to get a credit card. My job includes a fair amount of traveling and I’ve found myself with at least 5 different currencies in my wallet at some point in time. Coupled with all the coins, the option of a credit card certainly is inviting as a tool to help manage that, and to ease those theft-worries you certainly mentioned. Thanks for providing another point of view to consider!

By: Gail

Gail — Thu, 04 Jun 2009 20:49:12 +0000

For those wanting to use cash but get credit card rewards, many debit cards now offer rewards. You have the convenience of no bill at the end of the month, but still racking up reward points. I try to never keep more than what is needed in the checking account (which the cards are tied to) so the temptation to overspend is gone, and actually you have to be careful not to go over what is in your checking account.

By: GREENBACK

GREENBACK — Wed, 03 Jun 2009 22:03:56 +0000

I’ve used credit cards for years and hardly use anything else except for real small purchases like a pack of gum. You need the experience of using cash when you’re young I believe but as you get older and your financial house is in order I think using cc’s is fine. Some folks never learn how to handle money so I make these statements to those who have the discipline and self control to view that piece of plastic the same way they would dollars in their pocket.

By: Jackie

Jackie — Wed, 03 Jun 2009 18:58:23 +0000

Justme … lol, i agree. I do need to work on my accountability with cash but as long as I get more rewards/convenience with credit cards then I’m not too worried about it. If credit cards went away or there were significant enough rewards for cash, then i think I’d be just fine – but until I *have* to, my issues with cash are pretty small.

By: justme

justme — Wed, 03 Jun 2009 02:37:35 +0000

gahhh kills me to hear people cannot handle cash

I am not anti credit I just do not use it much because it is a bother for me to do so,if you just find credit convienant thats one thing but if somehow you just can’t control yourself with cash I would work on that

By: John @ Hard Work Blogging

John @ Hard Work Blogging — Tue, 02 Jun 2009 21:03:22 +0000

I use my credit cards to get out of debt. If i had cash and a $100 budget for food that $100 all gets spent. When i have $2.35 left in cash it gets spent on junk food or disappears for other reasons. I don’t buy junk food with the credit card so i pay all $100 to the credit card and get $2.35 closer to being debt free. These small amounts add up.

I also suggest setting up your budget with cash if credit cards have been trouble. Move the cash from one envelope to a “spent” envelope when you buy things on the card and use the cash to pay your bill.

By: Jackie

Jackie — Tue, 02 Jun 2009 19:34:23 +0000

Since I don’t practice the envelope system (or any system) when it comes to cash, I actually spend cash faster and with less accountability than I do with my credit cards. If I have $20 in my pocket, then I spend $20 – usually on fast food or fountain drinks at the gas station.

With my cc, I write each amount in my check register then recogncile it when the bill comes. This way I always know how it’s impacting my checking account, more like a debit card in how I treat it. My main cc is also a rewards card, so I use it for just about everything I can. Now my cc company has an online tool that will break your purchases down into categories over months/quarters/year and this also helps me to see where I need to cut more spending.

By: Nagel

Nagel — Tue, 02 Jun 2009 19:28:15 +0000

I was advised by a friend long ago that credit card use on Internet purchases offers protection against theft and fraud, so you can dispute it later. However, that may be changing. My friend tried to purchase music gear online last month, using Chase credit card. The Chase statement issued notified him that they are disposing of responsibility on their part of any problems resulting with online purchases – so basically they are washing their hands of that consumer protection feature. Has anyone else ran into such an issue recently?

By: Ibrahim | ZenCollegeLife

Ibrahim | ZenCollegeLife — Tue, 02 Jun 2009 17:43:01 +0000

I pay my card off every month. I wish it were that easy with student loans too.