I hate debt and I do my best to avoid being owing anything. I can count the number of times I have had to pay the minimal balance on my credit card on one hand, with some fingers left over. I only own one card and I am sure credit card companies hate people like me.
Unfortunately I had to buy a new car recently, though one day hope to be car free, and I feel got a decent deal. However I still believe no matter how good a deal it is, when you buy a car you get screwed. Anyway almost all of my monthly payments have been double or more what was agreed upon, depending on the month. Well this week I sent off my last payment and it has been received.
Hopefully this car will last a long time, because I plan on driving it until it falls apart.
Definitely, I mainly use my card for paying most of my bills online or when I do online shopping and pay for gas. Otherwise I try to use cash or check.
There is no reason to have a credit card. You can use your debit card for both of the above types of purchaces, and you don’t have to pay a company for the privilage of using your own money. The only thing you can’t use a debit card is a rental car, and there are only a couple of companies still doing it.
No credit! Debt is stupid! Do it the Dave Ramsey way!
I say that if a company won’t do the things you want them to (i.e. Take a debit card over a credit card) then don’t use them. I refuse to shop/use services/etc. of any company that will not take a debit card.
Credit cards are a tool of the man (snicker I love saying that).
When paying online with your debit card, be sure you are aware of the differences in liability between debit cards and credit cards if someone should obtain and misuse your information. Sometimes it’s a substantially higher amount you are liable for with debit cards than with credit cards. YMMV, but I’d check…
I always pay 100% of the amount due on my credit card (well, I lost the bill once). If you do this, it is better to use a credit card than a debit card.
With a debit card the amount is deducted immediatly from your acccount. With a credit card you get a couple of weeks. Granted with todays low interest (savings/checking) accounts it is not much, but the theory is true.
It may be easier to dispute payments with a credit card.
Debt is evil. if I can pay cash, I will do so on my next car.
I fully accept that I was responsible for my own problems with credit cards, and I’ve been paying for my actions with credit for a while (hopefully to have them fully paid off within the next year). These are my debts and I will pay them.
At the same time, I think it should be less easy for kids who have just gone off to college to get their hands on $10,000+ in available credit. It was easy for me to get that, and because I had no real sense of how easy and damaging it can be to run up that much in debt, I did it. The credit card companies are not responsible for my actions at all - I do wish they had limited what they gave me in available credit. But they did not force me to spend the money.
Either that, or I wish my parents or high school had taught me about credit cards and how they can be a good tool if used correctly.
