Comments on: Putting Credit Cards to Work for You

By: DebtGoal

DebtGoal — Mon, 20 Apr 2009 23:03:02 +0000

Credit cards can clearly be used to one’s advantage. The problem is the temptation to overspend. If one takes an honest, hard look at oneself and sees that they are going to be so tempted, then the risks associated with holding onto the cards are greater than the potential gains from “making them work for you.”

By: Make Friends, Earn Money

Make Friends, Earn Money — Tue, 22 Apr 2008 10:44:17 +0000

I generally steer clear from credit cards where possible, although I do have one. I like what you are saying about the disciplined use of them and I think that this is a responsible point to make. Cash back deals are good but ONLY if you know exactly what you are doing but I wouldn’t advise using a credit card just for this purpose.

By: Chris

Chris — Fri, 08 Feb 2008 10:34:49 +0000

I love to reap the benefits of rewards cards. I have a home business and use them for everything. With business spending the rewards ad up pretty quickly.

The key is, like everyone is saying…Pay them off every month or you will just be wasting money in fees.

By: susan

susan — Sat, 19 Jan 2008 10:23:10 +0000

Stephen, your thoughts on credit cards are really nice, and i appreciate that. But sometime if we are in hurry to choose a card then instead of getting the right one we might face something else which was not expected. And about the perks, yes i have to be agree with you. Which ever credit card you take you will get the rewards surely. anyways, thanks for such a nice information.

By: Pinyo

Pinyo — Mon, 19 Nov 2007 04:26:55 +0000

@Lynnae – if that works for you, I think it’s great.

@the girl – right on. I try to do the same and since I pay a large portion of my bills with reward card, I am getting quite a bit of cash back.

@Randall – thank you for adding that clarification

@Eric – you just reminded me about another rule: “If you have the tendency to spend more on credit card than cash, then you should just stick to cash.”

@Ryan – thank you for your comment.

By: Ryan

Ryan — Sun, 18 Nov 2007 00:58:40 +0000

That’s great Lynnae. Most people are not capable of admitting that while being disciplined enough to keep credit cards out of your reach.

Stephen did a great job outlining the benefits and perks credit cards can offer those who are disciplined. For others, unfortunately, credit cards can ruin them.

By: Eric

Eric — Sat, 17 Nov 2007 15:07:25 +0000

We love our rewards credit card. We save up all our points and then buy the most cost effective gift cards we can with them. We use our credit cards extensively to earn as money points as possible. We just have to keep ourselves incredibly disciplined not to leave a balance on them.

I have never really looked at the purchase or rental protection options on the cards. I’ll have to read how those work…

By: Randall

Randall — Sat, 17 Nov 2007 14:57:37 +0000

Louise – In the U.S. the employer has to get permission to pull your credit report, it’s pretty standard stuff. It’s like Social Security Numbers, you don’t HAVE to give them out on a form, but if you don’t, they pretty much eliminate you automatically.

No permission for credit check = no job interview (sometimes).

By: the girl

the girl — Sat, 17 Nov 2007 14:54:49 +0000

I wholeheartedly agree.

I put everything (groceries, electric bill, property taxes and the occasional Dunkin’ Donuts coffee, to name a few) on my credit cards to take advantage of rewards, and I pay them off every month.

The very important thing to remember, too, is that people with excellent credit pay less when they have to borrow – a frugal person’s nirvana!

By: Rebuttal: Putting Credit Cards to Work for You (GP) | Credit Withdrawal

Rebuttal: Putting Credit Cards to Work for You (GP) | Credit Withdrawal — Sat, 17 Nov 2007 14:10:50 +0000

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