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Discussion in 'Money Talk$' started by SaggyWoman, Jan 2, 2015.
Do you live without using your credit card?
My father and grandfather constantly hammered into us, "Don't buy on credit. If you can't pay for it, you don't need it. Better to pay cash for a used one or wait until you can afford it. But don't buy it on credit."
When I was in college, I didn't listen. I got one of those sky high interest cards they use to sucker kids in and, sure enough, I got in over my head right away.
That was nigh on thirty years ago and I still look at credit cards as a bad idea. I have some that I never use. The only time I'll use a credit card now is if it's an emergency, or if I can get one of those 0% offers and I know I'll be paying it off before the 0% period is up.
I use cash for day to day purchases and barter when I can.
I was a big fan of AOCS and using gold, but not enough people did that for it to work out.
I use my different rewards cards. I get 3% cash back on groceries and gas on one card and I forget what the reward percentage is on the other card but I was shocked at Christmas time to go to order some things on my Old Navy Visa card and find out I had $100 to spend for the gifts I was ordering!! I pay off the credit cards right away so there is no interest at all. So no, I don't spend my money on a cash only basis but instead use my credit cards wisely and make a few bucks in return! Oh and my credit score is just under 800.
I use my credit card - because I spend less then if I have cash.
Unless I know that I am going to a place where only cash is accepted I rarely have more than a dollar or two in my wallet.
It's credit card for me - everything gets paid at the end of the month.
We even pay college tuition via credit cards, the upside is that it brings in big "frequent flyer miles" that we use for our infrequent vacations.
Excuse my ignorance - please explain AOCS.
My wife and I pay for everything with a credit card. We keep a running register, just like a check register. We don't spend what we don't have and we pay the bill off each month. And, we use the cash back reward to fund purchasing Christmas gifts in December. Last December we cashed in $225.00 simply for using our credit card.
I used a credit card to pay my son's tuition at Vanderbilt for four years and got some seriously big frequent flyer miles.
I wish they still allowed this! By the time my oldest got into college in 2008, they wouldn't allow credit card payments unless you paid a $250 "convenience fee".
I currently don't have a credit card because I think I am just going to spend more money if I have credit card compared to just using cash.
I don't use credit. If I want something I pay for it cash. If I don't have cash on me then I just don't buy it.
It's not impossible because I am doing it. I try to live within my means. It really depends on the perspective that you hold as it pertains to your credit card. While they may help you to purchase and take care of situations that you would not have been able to without the card, it could also be a way to quick financial debt, especially if you are not working anymore. I do use my debit cards and mastercards however.
I recently got rid of my credit cards, purely and simply for the fact that I never used them. When I first applied, I thought I was being sensible and one was to use in an emergency and the other for online purchases so I was inputing in my bank details.
I never used either in almost four years, so while I'm not against the use of credit cards, I simply don't need them.
American Open Currency Society. It was, for lack of a better description, a bartering community with gold and silver. It still exists, but I don't believe anybody around here is participating.
It was a great idea because, not only did it allow you to do business outside of the system, gold is a better value, so you could purchase more for less.
I'm just the opposite. One of the reasons I rarely use credit cards is that it's so much easier to keep track of my money if I spend cash. If I can flash a credit card, then I spend without thinking about it. If I have forty dollars in my pocket to spend, then I'm always conscious of how much I'm spending and how much I have left.
Rarely use cash. Almost always use credit cards. Much better tracking, more convenient and I get airline miles Smile. However, you have to make sure that you pay them off at the end of every month so you don't have interest charges. College allows payment via credit cards, but then wants you to pay the 3% fee -- so no thanks to that one.
We pay for everything we can get in person in cash, but I do have a card I use for online purchases. I just set the cash aside to pay the bill when it comes in.
Yes, ofcourse. My parents always tell me to never spend money I don't have, credit cards are bad business in Asia. I don't have any kind of debt so I'm lucky, I only use a debit card and I save my money. I also invest in stocks and bonds. Cash is king is always great advice. Checks also go bad so be careful about accepting those.