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Old 05-27-2016, 01:20 PM
 
10,851 posts, read 8,199,065 times
Reputation: 17205

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Quote:
Originally Posted by Escort Rider View Post
You are to be congratulated for taking steps to avoid running up credit. Each person needs to do whatever works for that person. For me, what works in connection with the use of my credit card is not charging anything for which the money is not already "in the bank" and then paying off the credit card in full each month.
I do the same and use a cash back card. Since I pay for literally everything with it, not only do I have an automatic record of all my expenditures but those cash reward points add up fast.
Mine's a Visa card and I've always been happy with their fraud protection. It allows cardholders to customize some thresholds for fraud alerts.

 
Old 05-28-2016, 05:17 PM
 
Location: Cochise county, AZ
5,101 posts, read 3,576,860 times
Reputation: 10942
I think about doing that but want to make absolutely certain I won't abuse the privilege again. Actually I'm thinking of getting a pre-Paid card.
 
Old 05-28-2016, 09:25 PM
 
Location: too far from the sea
20,317 posts, read 19,304,785 times
Reputation: 34738
I have a debit card from my bank but I don't think I've ever used it. I buy almost everything with rewards credit cards instead of paying directly. Then I just pay off the cards each month and a few times a year I redeem the rewards in cash or a gift card. Since I don't really like credit card companies, I get a sadistic enjoyment out of beating them at their own game=reaping rewards for buying groceries and gas that I'd be buying anyway.

I do still owe a little bit on a cc from the trip to England but it's at zero interest, lol. I got $300 cash back rewards. It takes some work and discipline but you can make credit cards work to your advantage.
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Old 05-28-2016, 11:00 PM
 
10,851 posts, read 8,199,065 times
Reputation: 17205
Quote:
Originally Posted by in_newengland View Post
I have a debit card from my bank but I don't think I've ever used it. I buy almost everything with rewards credit cards instead of paying directly. Then I just pay off the cards each month and a few times a year I redeem the rewards in cash or a gift card. Since I don't really like credit card companies, I get a sadistic enjoyment out of beating them at their own game=reaping rewards for buying groceries and gas that I'd be buying anyway.

I do still owe a little bit on a cc from the trip to England but it's at zero interest, lol. I got $300 cash back rewards. It takes some work and discipline but you can make credit cards work to your advantage.
As I posted above, I do the same. But don't think for a moment you're beating the cc companies. Their agreement with the merchants give them a cut of each transaction and then they get a further cut based upon the total number of transactions they have with a merchant. They also have agreements with all the companies that honor their cashback rewards.

In the end it's a wash in that they don't lose anything for extending credit, but I prefer to call it a win-win. They win, I win. If anyone loses, it's the merchants. But it's a cost of doing business, they have to live with it. I'm sure they build it into their pricing. In our US travels, we've found that many tourist-oriented small retailers won't accept CCs for transactions under $20. Generally it's the ones who use Foursquare. I respect that and always carry cash just for that reason.
 
Old 05-29-2016, 08:49 AM
 
Location: Edina, MN, USA
6,977 posts, read 7,471,322 times
Reputation: 16359
I have always paid for everything (local shopping) with a debit -after reading Madman's post I won't be doing that anymore. I just went grocery shopping and used a CC - will track this and make periodic payments throughout the month so when the bill comes I don't stroke out.

I have a cash back CC also - just a note - the interest rates are higher for those so unless you pay in full each month you are not saving anything.
 
Old 05-29-2016, 11:42 AM
 
Location: Los Angeles area
14,017 posts, read 17,933,764 times
Reputation: 32336
Two nights ago gave a brief speech at an 8th grade promotion ceremony, wishing the graduates well. Perhaps 600 people in the audience, give or take. That sort of thing (as small as it is) makes me feel alive and still relevant. Will give similar speech Thursday morning at a 5th grade promotion.

Last night attended "La Boheme" at Los Angeles Opera. Life is good.
 
Old 05-29-2016, 12:21 PM
 
6,612 posts, read 5,271,149 times
Reputation: 13700
I'm like madman. I do not use my bank debit/credit card for anything but getting cash from the ATM. My regular credit card was skimmed at the gas pump, and it didn't bother me because like he said, it was the credit card company's problem.

Now if it was a card linked to my bank account, another story. Yes, they will replace the money, but why take the chance.

Just pay your credit card weekly if you are afraid of running up interest charges.
 
Old 05-29-2016, 03:10 PM
 
Location: Prescott AZ
6,183 posts, read 9,242,986 times
Reputation: 11779
There is a grocery store (Winco) here that won't take credit cards at all. They say it's to keep prices low. So one day I forgot this, brought my cc card, got to the check out, bagged it all, and then... no cc cards used here at all. Had to move the cart aside, go home (about 5 miles) and get the debit card. Pain in the patootie. Now I carry both of them.
 
Old 05-30-2016, 12:21 AM
 
Location: Wisconsin
21,623 posts, read 44,599,609 times
Reputation: 15320
Quote:
Originally Posted by in_newengland View Post
I have a debit card from my bank but I don't think I've ever used it. I buy almost everything with rewards credit cards instead of paying directly. Then I just pay off the cards each month and a few times a year I redeem the rewards in cash or a gift card. It takes some work and discipline but you can make credit cards work to your advantage.
My thinking, exactly. Credit cards can be useful financial tools if handled properly. All purchases go on two cashback credit cards which are paid in full every month. I monitor these accounts a few times a month for fraud and to be sure I'm not exceeding budget - in particular, groceries and discretionary. Between the two cards, annual cashback is in the area of $600. I have other cards which I use for 0% balance transfers only on rare occasion. I've always been a user of credit - especially when I can make - or save - money doing so. But I never pay CC interest. Never. All cards are no-fee. My debit card is only used to deposit checks or, on very rare occasion, withdraw cash at an ATM. Hardly ever use cash these days. $100 can sit in my purse for six months untouched.
 
Old 05-30-2016, 09:45 PM
 
2,634 posts, read 1,142,240 times
Reputation: 3594
Quote:
Originally Posted by PhxBarb View Post
There is a grocery store (Winco) here that won't take credit cards at all. They say it's to keep prices low. So one day I forgot this, brought my cc card, got to the check out, bagged it all, and then... no cc cards used here at all. Had to move the cart aside, go home (about 5 miles) and get the debit card. Pain in the patootie. Now I carry both of them.
I frequent a chain grocery store (Aldi) which does not take credit cards either. Since I have never used a debit card, I always carry a little cash for this store in particular. Like many others, I used cash back cards for just about everything else.
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