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 Replies: 37 / Views: 4,239 |
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Valued Member
Canada
276 Posts |
Avoiding credit cards is only a good idea if you can't handle it. They're a great tool, and excellent for building a credit history, easy access to cash, great for travelling, secure for moving around with access to a large amount of money.
But people today havn't learned to manage money, so credit cards get a bad rap. Except in the states, where the laws are so lax that CC companies get away with predatory practices.
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Pillar of the Community
United States
2734 Posts |
Even I, "Mr. Pay-In-Cash", bought one thing with my credit card this year: My new laptop. I charged it just to cover my behind. I could file a chargeback in case the laptop was DOA and the retailer was uncooperative. I paid off the entire balance three days after the purchase, so no interest charge.  I probably should have charged my 1080p TV instead of paying cash for the same reason, but laptops are statistically more likely to have early-onset problems than TV's... |
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Valued Member
Canada
85 Posts |
Cash only ..... got away from credit cards years ago
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Pillar of the Community
Canada
1051 Posts |
Pay them off and burn them. I can see nothing currently more damaging to the health and happiness of most people that debt, particularly of the credit card variety.
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Bedrock of the Community
United States
10982 Posts |
I use my VISA credit card to pay for everything I possibly can. 1% Cashback adds up and I pay the balance in full every month.
If you cannot pay the balance in full, hide the card and don't use any credit card until your balance(s) is paid in full.
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Valued Member
Canada
307 Posts |
Quote:
It's time to spill the beans, let me know how You feel when Your holding that brown envelope and Your getting ready to open it! I am now also part of the cash or debit only crowd  but Glenn there was a time when once a month I would mouth vomit  and hope the bill stayed my dirty little secret.  I would curse myself and then reach for the card for another coin that I had to have...that is why coin collecting is an addiction...I had to have..  |
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Pillar of the Community
United States
3592 Posts |
I guess the consensus is that you should only have a credit card if you know how to use them.
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Pillar of the Community
United States
1007 Posts |
I don't own one of those awful things and I'm glad I don't. There's nothing worse than owing a bank a bunch of money and they're charging you obscene interest.I paid mine off many years ago and cut them up.
I do, however, have a VISA Check Card which acts like a credit card but it takes the money directly out of my checking account. If I don't have the cash in my account I don't buy whatever it is, or I save up for it.
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Pillar of the Community
United States
2408 Posts |
wow. I must admit I am a bit shocked. Maybe coin collectors are more inclined to dislike credit (because it isn't real money?). I feel like I've stepped into an AA meeting with a glass of wine.
Personally, I've always used credit cards because, heck, I get 28 days of free money for the same purchase I would have done otherwise. I don't spend more on credit because I know this is just a buffer.
I've said this before, using a debit card is a liability that I won't take, no matter what. I've been there and got bitten... just search google if you don't trust me.
Using cash (except for coffee) is even worse for many reasons and I will spare the lecturing here.
Burning credit cards? Not for me thanks.
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Pillar of the Community
United States
2734 Posts |
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Maybe coin collectors are more inclined to dislike credit. 1. You don't get circulation finds in your change when you don't get change. 2. I wouldn't have my stash of junk silver saved from my change if I'd been paying with cards for the last 30 years. 3. Coin dealers also prefer cash, and offer discounts/special deals for paying in cash. Many other small businesses also offer special cash deals. They like to avoid the 1% to 2% card fees when possible. 4. Cash has no magnetic strips to wear out.  All that said, I'll second canadian_coins that I'd rather have a credit card anyday versus a debit card. $50 fraud limit (vs. total account cleanout!), and the protection of a chargeback in case of a dispute with a retailer. |
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Valued Member
United States
326 Posts |
Unfortunatly some companies require a credit card as proof of identity. Try renting a car without one. The key is use them and pay them off at the end of the month.
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Pillar of the Community
United States
2600 Posts |
Sorry, never...NEVER buy coins on credit. If you can't budget the monthly income to allow some purchases this is the wrong past time.
Jim
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Pillar of the Community
United States
1256 Posts |
I only buy coins if I sell. Makes it tough for higer priced stuff but only becasue I have to wait! I cheat and use cash on supplies sometimes but that's just supplies :)
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Valued Member
Canada
250 Posts |
I just buy coins when my wife isn't looking.
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Valued Member
Canada
268 Posts |
I buy coins all the time on my credit card. The secret is to never carry a balance.
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Replies: 37 / Views: 4,239 |
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Posted 02/06/2011 11:00 pm
