Comments on: Benefits of Using a Credit Card

By: JoeTaxpayer

JoeTaxpayer — Fri, 14 Aug 2009 00:09:29 +0000

Jeremy – you raise a good point – can you even rent a car with no CC? How about a hotel room? Last, how much tougher is it to get a mortgage if you have no credit rating at all, lived your whole life on a cash basis?

By: Wojciech Kulicki

Wojciech Kulicki — Fri, 14 Aug 2009 00:00:09 +0000

It definitely makes your bank statements easier to review! This is similar to what we currently do.

By: Ethan

Ethan — Thu, 13 Aug 2009 18:26:29 +0000

My family puts *all* discretionary expenses and several fixed expenses on a credit card each month. Not only does this result in consumer protection on every purchase and a lot of rewards, but it also simplifies our cash flow forecast by collating all of these charges onto a single monthly payoff date. Budget categories still have to be carefully tracked so that the spending matches what we can afford, but the big gain is that our checking account has only about 12 transactions per month: the credit card payment, and the few other payments that we can’t put on the credit card for some reason. This makes our cash flow situation very easy to stay on top of and predict.

By: The Foolproof Method for Responsible Credit Card Use

The Foolproof Method for Responsible Credit Card Use — Thu, 13 Aug 2009 17:23:39 +0000

[...] Debt Yesterday, I wrote about the many benefits of using credit cards when it comes to any type of purchase. Consumer protections and card benefits are just the [...]

By: Jeremy

Jeremy — Thu, 13 Aug 2009 14:07:38 +0000

My credit card has given me the ability to shop online and get a whole bunch of cool things! (I’m a Think Geek addict!)

I think nowadays it’s almost becoming compulsory to have a credit card. Credit cards are a great form of identity verification, and they are also often used as “security” on a purchase – eg: a bond when you hire a car.

Great post – look forward to seeing your next post on using credit cards responsibly!

By: Wojciech Kulicki

Wojciech Kulicki — Thu, 13 Aug 2009 03:35:43 +0000

LOL Way to go, Joe.

By: JoeTaxpayer

JoeTaxpayer — Thu, 13 Aug 2009 02:58:31 +0000

“there is no such thing as responsible credit card use” (Dave Ramsey)
I haven’t paid a dime in interest in two decades.
But I have gotten free airline tickets, an Apple Computer, Bose Wave Radio, 20 in TV, and since moving to a MBNA Fidelity card, $8000 in my daughter’s college account.
Now, since Dave has a billion fans and is divinely inspired, I am irresponsible. Despite the rewards I’ve gotten and the benefits that you listed, well, Dave says these things don’t matter.
Excellent post.
Joe

By: Adam

Adam — Wed, 12 Aug 2009 18:09:48 +0000

Agreed. The knee-jerk reaction people have to the credit card industry is that it is all evil. (And yet the majority of people carry them.) If there were no advantages to cards, the industry would never have become such a big part of our lives. These are some good examples of the good things that cards can offer.

(BTW, I’m not at all saying this is a squeaky-clean industry; only that the coverage it gets is very one-sided.)

By: fwisp.com

fwisp.com — Wed, 12 Aug 2009 17:13:04 +0000

Benefits of Using a Credit Card…

Let’s face it – credit cards get a bad rap, and with good reason. But with all the potential pitfalls of credit cards available to the modern consumer, the many benefits have been almost completely overlooked by the personal finance community…