I know how to use credit cards!

[Snodog]

I agree with person who said "know thyself".

If you find yourself not paying the full bill every month or spending more than you should then by all means get rid of the card.

For some people credit cards are the best thing since sliced bread and for others they are evil.

What I have a problem with is some of the anti people (Dave Ramsey) who say that credit cards are evil for everyone.

Dave Ramsey says if you play with snakes you are going to get bit. Well I've been "playing with snakes" for 25 years and have not gotten bit. Only free cash back!

Using credit cards is I guess technically going into debt. But if you pay off every month it is a loan at 0%. Actually with the cash back it may be more like a loan at -2%. Wish I had more loans like that.

[JoshuaHeckathorn]

What I have a problem with is some of the anti people (Dave Ramsey) who say that credit cards are evil for everyone.

Dave Ramsey says if you play with snakes you are going to get bit. Well I've been "playing with snakes" for 25 years and have not gotten bit. Only free cash back!

Using credit cards is I guess technically going into debt. But if you pay off every month it is a loan at 0%. Actually with the cash back it may be more like a loan at -2%. Wish I had more loans like that.

Amen to that. Well said.

[Coronet]

I'm the same as you and the rest of the responsible CC users. I charge only what I can pay in full at the end of the month and reap rewards points!

[carolan]

credit cards

Like many of you on this subject,I have used credit cards for about 35 years. I have almost alwys paid off the balance very month. Over the years there were a few times when I got behind but this was short lived. I also use reward cards and we charge everything we can to the card for travel points.

In Canada, the credit card companies are now obliged to show us on every bill, how long it would take to pay off the balance if we only pay the minimum payment. That can be a shocker! Hopefully it will help some people to see the error of their overspending ways.

[disneysteve]

In Canada, the credit card companies are now obliged to show us on every bill, how long it would take to pay off the balance if we only pay the minimum payment.

They do that here in the US as well.

[Pansori]

Hopefully it will help some people to see the error of their overspending ways.

Hmm, maybe... but not necessarily. I think what gets a lot of people is seeing how much they can spend and how low the payment will be... it is kind of like when someone goes to buy a car, and they think they are getting an awesome deal because they put no money down and have these super low payments. Never mind that their loan is for 6 years or something ridiculous!

The other night I was on the phone for an hour and a half with a young customer who was trying to figure out the best way to literally max out his credit card on an international trip and still get away with paying the lowest amount. He gave me 6 scenarios (2 of which I had to remind him he would be going over his limit), and I crunched numbers until I finally said: "Look, in the end if you max out this card you're looking at at least $100 min payments."

He was thrilled! Partying his way across Europe for the summer was only going to cost him $100 a month? How can one ever pass up an offer like that?