Twenty-ten Posted May 12, 2010 Posted May 12, 2010 I use mine purely for convenience. Pay them off every month and never carry a balance or pay interest. Credit cards carry huge interest rates. If you don't pay them off regularly, you are paying double and triple whatever it was you bought with them. What convenience don't you have money saved up for all that? Us a debit card to pay for all that!?!? My credit card (tied in to LOC) is 3% that's nothing over a few months and last year I took advantage of the 0% cards which freed up more money for investments and other transactions and had a running balance that I paid in full by the time the card ran out of the 0% deal. If you have good credit you don't get gouged.
Twenty-ten Posted May 12, 2010 Posted May 12, 2010 Convenience. You can't rent a car or get a hotel room without a credit card. Online purchases. Business expenses. You can use debit for most. Maybe not rent a car or hotel I'll give you that sure.
TaurusTerp Posted May 12, 2010 Posted May 12, 2010 This thread is bewildering. How do you people NOT use credit cards? I use a credit card for a purchase = I get 2-5% cashback on it. I use a debit card = nothing. Use your credit card, get rewards, pay off your balance. There's literally NO downside to this. You build your credit history and get money back. I get about 400-500 back per year.
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