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Thread: Do You Use Plastic or Cash?

  1. #1
    ~ Figure Skating Is My Passion ~ Ladskater's Avatar
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    Do You Use Plastic or Cash?

    I recently applied for an American Express card and have only had a Visa card for about five years. I try not to use my charge cards much, but lately have resorted to charging things more. Not a habit I am used to. I looked up information on the use of credit cards and discovered this eye opening information about the secret history of credit cards.

    http://www.pbs.org/wgbh/pages/frontl...nsibility.html

    I hope I don't go overboard with my credit cards. I can't believe how many people buy even the smallest purchase - like gum - on their credit card!!!

  2. #2
    The Zamboni Rocks!!! sillylionlove's Avatar
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    Thanks for posting that link. It's very interesting. I use my debit card for almost everything. But I don't consider it a credit card even though I use it as such because it comes directly out of my checking account. I use the credit function because I get points for rewards. I learned my lesson about using credit cards like free money....it's not!!!!!!!!! But I think with the downturn in the ecomony more people are using credit cards for everything...gas, groceries...even gum. I mean they take credit cards at fast food places!! I have a tendency not to carry lots of cash around.

  3. #3
    Custom Title merrywidow's Avatar
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    I only use my credit card when I actually have the money to cover the purchases. That way I never pay monthly service charges. I pay the bill as soon as I get it.

  4. #4
    and... World Peace! Tonichelle's Avatar
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    I don't have a credit card, I only have a debit card so if the money isn't in my checking account I can't swipe the plastic....

  5. #5
    Figure Skating Is A Dangerous Sport Dee4707's Avatar
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    I use my credit card for everything but I also pay off my bill every month no matter how much it is. I gain interest on my money for that month. If you can't pay off the bill I don't suggest using the card for everything.

    Dee

  6. #6
    Custom Title demarinis5's Avatar
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    Quote Originally Posted by Dee4707 View Post
    I use my credit card for everything but I also pay off my bill every month no matter how much it is. I
    Dee
    I agree and that is what I do. The problem is that folks overspend and the credit card companies encourages this behavior, why not they make millions in interest on consumers . Credit card debt is a very hard lesson to learn and I would not wish it upon anyone. A wise woman (my mother) once told me no matter how successful you become do not live beyond your means. I try to follow her advice.

  7. #7
    Custom Title heyang's Avatar
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    Quote Originally Posted by Dee4707 View Post
    I use my credit card for everything but I also pay off my bill every month no matter how much it is. I gain interest on my money for that month. If you can't pay off the bill I don't suggest using the card for everything.

    Dee
    Me, too. Right now, I'm very fortunate to have a very good income and my parents taught us [by example] not to buy something new when what you have still works. My monthly+ luxury is a massage - even there I economized by joining Massage Envy. However, my 'new' car is 9 years old now and my 'old' car was purchased used from my uncle who bought it in 1997. The 2nd car is for my mother to drive when she's around.

    In addition to the bit of interest in delaying interest, I have rewards cards with Best Buy and Barnes & Noble; therefore, I get some 'free' stuff, as well. I used to have a Continental Airlines rewards card, but I found that I haven't flown Continental for the last several vacations - thus the change to other companies.

  8. #8
    Banned AwesomeIce's Avatar
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    I have one card that i use quite frequently, because I get reward points on it that I can redeem either for cool gifts, or use as credit towards my balance. I really only use it on large purchases, though.

  9. #9
    and... World Peace! Tonichelle's Avatar
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    yeah if and when I can afford to have a credit card I want a Visa Chase that earns rewards points towards Disney merchandise/travel!

    I'm ways off from one of those, though.

  10. #10
    Wicked Yankee Girl dorispulaski's Avatar
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    I use my credit card for everything and pay it off every month.
    Two advantages:
    1. All my purchases go towards hotel points.
    2. I get a report at the end of the year that groups my spending into categories and makes it very easy to work on my tax return.

  11. #11
    Da' Spellin' Homegirl Grgranny's Avatar
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    I use credit cards a lot. I always pay them off every month. I will not pay interest. Stupid. I bought a card at our grocery store. I paid $270 for $300 worth of groceries. I get points for a lot of the cards I have. A number of them give you coupons, etc. if you use them. I use a debit card once in a while.

  12. #12
    PATCH NJSk8Fan's Avatar
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    We use our credit cards extensively. But we always pay the balance every month.
    We get cash back on Discover which we apply to the balance when we have enough to do so. We sign up for all their specials for extra cash back bonuses...such as now 5% when you shop at certain stores such as Dept. Stores (K-Mart), Home Depot, Lawn & Garden Centers and Home Improvement Centers. Starting July it's gas.
    We get cash back rewards on American Express and Visa, too.
    I used the rewards from our Visa card to trade in for Sears gift certificates and that is how I bought my new camera a little over a year ago.

    Edited to add: Our Visa is an AARP Visa card so their are perks we can use with that if we ever get around to traveling, renting a car or something like that.

  13. #13
    Gliding Along dlkksk8fan's Avatar
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    I have a visa credit card I use and pay in full each month. The only outstanding balance I have is a Best Buy card (no interest for 2 yrs), that I bought my computer on. I'll probably pay it off before that time.

  14. #14
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    I use plastic. But I am trying to cut out that bad habit.

  15. #15
    Custom Title heyang's Avatar
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    Quote Originally Posted by dlkksk8fan View Post
    I have a visa credit card I use and pay in full each month. The only outstanding balance I have is a Best Buy card (no interest for 2 yrs), that I bought my computer on. I'll probably pay it off before that time.

    I did the same when I bought my 50" Sony Bravia LCD HDTV in January. I had the money to pay for it, but paid it over 6 months instead.

    Edited to add: purchased a new dishwasher at Sears with a Sears card since there's no interest for a year.

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