Comments on: Credit Cards: Why I Love Them And Why I Hate Them

By: How Would You Spend $500 On Children This Holiday? | Financial Samurai

How Would You Spend $500 On Children This Holiday? | Financial Samurai — Fri, 18 Dec 2009 09:04:48 +0000

[...] the flip side, Peter from Bible Money Matters points out that as soon as McDonald’s started allowing customers to pay by credit card, the [...]

By: Financial Samurai

Financial Samurai — Thu, 17 Dec 2009 19:03:33 +0000

Hey Peter! Nice post, and thanks for stopping by my site! I still can't believe I won. Great insight on the average purchase price of consumers at McDonald's once they accepted CC's! That is the whole problem with CC's in a nut shell... spending more b/c it's so easy to do, regardless of whether you should or not. Keep in touch and congrats on winning the comment prize! Best, Sam Financial Samurai´s last post ..Are Credit Cards Weapons Of Mass Financial Destruction?

By: uberVU - social comments

uberVU - social comments — Sat, 12 Dec 2009 11:25:51 +0000

Social comments and analytics for this post…

This post was mentioned on Twitter by AntiqueCollect: Credit Cards: Why I Love Them And Why I Hate Them http://bte.tc/R76 #RTW…

By: Patrenia

Patrenia — Wed, 09 Dec 2009 04:13:21 +0000

I prefer my debit card with the rewards. Two problems though: 1) my credit union changed reward providers and the program is not as beneficial as before. 2) I don’t have the safest fraud protection.

So, after 5 years of not using a credit card, I applied for a Chase Rewards Card (which is awesome, BTW) about 2 months ago. I pay the balance off every month and get the benefit of the great rewards program. I use the same principals as before. I do not spend what I don’t have and I automatically deduct the amount from my check register after each use. WIN – WIN…for me that is

By: Miranda

Miranda — Tue, 08 Dec 2009 13:47:28 +0000

I like the potential for money management, and the convenience. However, it is depressing that the whole purpose of credit cards is to get us in just enough debt that we keep paying interest, but never really make progress, and tread water for as long as possible. But credit cards really can be great tools in the hands of someone with disciplined spending behaviors, and who has a plan to use the rewards.
Miranda´s last post ..Guest Post: Year Credit Credit Card Tips

By: Peter Anderson

Peter Anderson — Mon, 07 Dec 2009 20:07:24 +0000

I agree on credit cards being an instrument of debt – designed to put us into debt. I only very cautiously use credit cards, and ONLY when we have the cash literally sitting in the bank account waiting to pay off the card as soon as it hits the account. I usually pay the card off within 2-3 days of when the charge is made – as soon as it appears in the online register.

By: Kevin@OutOfYourRut

Kevin@OutOfYourRut — Mon, 07 Dec 2009 19:52:57 +0000

“Almost 41 percent of people with rewards cards NEVER use the reward!”

That’s a big problem I have with any program with a benefit at the tail end. Sometimes we just forget (or move on) and it becomes a cost free incentive/gimic for the issuing company. Rebates are another example- why not just give the discount at the register?

The other basic problem with cc’s is that they’re instruments of debt, designed to put us in debt. They aren’t money management tools in the way many people use them. Good for anyone who can, but they’re really not designed for the average person.
Kevin@OutOfYourRut´s last post ..Seek Fulfillment Beyond Your Work

By: Craig

Craig — Mon, 07 Dec 2009 19:26:49 +0000

They are really easy to use and sometimes it pays off. Helps develop credit and sometimes can get rewards. I should try to take advantage of the little rewards since I need to buy things like gas and food anyways.