Anyone here existing without credit cards?

[Dietmar239]

I know of a few people who use purely cash and debit cards and they seem to do quite well. Although, I have a card I try to use mainly direct purchase debit or cash.

[lonewolf]

If you can pay your credit cards off every month, I see no reason not to use them. If you have money anywhere earning even 5%, the 25 day float on, say, $30,000 credit card charges is worth $1250/year.

I have never understood why anyone would use a debit card, other than to have a record of transactions, which a credit card does as well

[dukehjsteve]

There is absolutely nothing wrong with using credit cards... they give you up to 45 days float on your money, and they sure facilitate countless transactions. Plus you can garner nice perks, aka Frequent Flyer points.

All that assumes that you PAY YOUR FULL BALANCE EVERY MONTH... which I do.

Of course if every credit card user was like me, the credit card purveyors would go belly up.

[guru]

Everything, from my company's expenses to my personal, goes through my Marriott Rewards Visa. Paid off every month, I'll save over $1000 on our Nike Outdoor Nationals rooms alone by using the points.

[SQUACKEE]

My wife better be or its divorce. :x

[Marlow]

I have never understood why anyone would use a debit card, other than to have a record of transactions, which a credit card does as well

??!!
cuz I don't like running to the ATM all the time, and **gasp** I do have a balance on my CC. :shock:

[gh]

I never use anything but a credit card... barely know what cash looks like anymore. As noted, the bennies you can pick up with mileage accrual are stunning.

And one other thing: safety. If the vendor rips you off, in most cases, Visa (or whomever) will make good.

But yes, pay off 100% every month. (or 105, just to be safe!)

[bad hammy]

Of course if every credit card user was like me, the credit card purveyors would go belly up.

When the recent credit card legislation was signed into law, thereby preventing credit card companies from overly-screwing the people who maintain balances, the speculation was that the CC companies would look to maintain their profits by one or more of three ways:

1. Eliminate the float, charging interest from the day of purchase to all customers, including those of us who pay off every month.

2. Add/increase yearly fees.

3. Eliminate 'points' accumulation plans.

So keep a close eye on those 'changes of plan' brochures you sometimes get from your CC company . . .

[gh]

Fortunately, they need gimmicks to keep your business, so I wouldnt' expect d, all the above.

[lonewolf]

I was recently advised by one seldom used card issuer that the company that purchases its credit card receivables would no longer do so and my account was closed.

[TrackDaddy]

So no one here has any credit card debt?

LOL

[bad hammy]

So no one here has any credit card debt?

LOL

Used to. Topped out at around $40,000 (when I was making about $20,000). Then I got smarter. And a better paying job.

[Daisy]

And one other thing: safety. If the vendor rips you off, in most cases, Visa (or whomever) will make good.

Last time I had a rental car the bumper got hit. I did not get the rental insurance and they charged me $500. To my surprise the credit card covered every penny.

So no one here has any credit card debt?

Nope, pay it off every month as a standing order. But there is the mortgage thing and that's pretty steep.

[Marlow]

So no one here has any credit card debt?
LOL

Hey - I owned up to mine! I made it to 45 with no debt, but then my first-born went to college and that was the end of that! I am still paying off student loans (as are they)! Luckily the IRS made them deductible! My current CC balance is a consequence of going to Scotland in 07 and the Eugene OT in 08, so those were at least good causes!!

[TrackDaddy]

Yeah I was ringing up charges with you in Eugene last year. :cry:

I've got some debt but a reasonably healthy dual income for the region I live in and a pristine credit rating of excellent from all 3 bureaus.

I do wonder sometimes if I should lower my debt to availability ratio on my primary card though (I only have 3). Generally I dont worry about it since my interest rate is really low and I use it for vacation.

I know its costing me money to carry the debt but I dont know. I've dont feel overextended, have never been close to not being able to make a payment and I always pay considerably more than the due amount.

I know my thinking isnt the smartest (hush...no jokes ), but its the way I process debt.

Y'all please help me!!!

Oh wretched man that I am, who will save me from this body of death?