Rewards gift cards
#11
Super Member
Thread Starter
Join Date: Jan 2009
Location: California
Posts: 3,502
I use them for the rewards, mainly for things that I am going to buy anyway. I really like the different rewards catagories every quarter with Discover Card, things like gas and groceries. Why not get 5% cash back on things I buy anyway? Now American Express is doing the same and I enrolled the other day. My Citibank card is a Dividend card so I get cash back there too.
If they start charging interest from the time of purchase I won't use them anymore. No savings there.
I don't carry much balance on cards, normally pay them off each month. I do have one at 0% until October that I am paying a little bit each month. Why pay it off when I can keep that money in my high yield savings account and earn interest on it until September? The only other thing I owe besides mortgage is my auto loan, which is paid of in THREE MORE PAYMENTS!! Yoo Hoo!
If they start charging interest from the time of purchase I won't use them anymore. No savings there.
I don't carry much balance on cards, normally pay them off each month. I do have one at 0% until October that I am paying a little bit each month. Why pay it off when I can keep that money in my high yield savings account and earn interest on it until September? The only other thing I owe besides mortgage is my auto loan, which is paid of in THREE MORE PAYMENTS!! Yoo Hoo!
#12
Well, if they start accrueing interest from the day something is charged, I'm not using it anymore. I'll find a different way.
Yeah Pam!! Congrats on 3 more payments!! It feels so good to have a loan paid off!!!
Yeah Pam!! Congrats on 3 more payments!! It feels so good to have a loan paid off!!!
#13
Super Member
Thread Starter
Join Date: Jan 2009
Location: California
Posts: 3,502
Originally Posted by Rose Hall
My husband and I took a class at our church a few years ago, called Financial Peace University with Dave Ramsey. Since then we have closed our credit cards. I believe the credit card industry as a whole is a scam on the middle class. The only "person" who benefits from a credit card is the credit card company!
Just my humble opinion (JMHO)
Rose Hall
Just my humble opinion (JMHO)
Rose Hall
It's a personal decision on what's most important... having no debt and never using credit or, having a higher credit score by using them wisely.
#14
Super Member
Join Date: Nov 2006
Location: Missouri
Posts: 1,822
Originally Posted by Rose Hall
My husband and I took a class at our church a few years ago, called Financial Peace University with Dave Ramsey. Since then we have closed our credit cards. I believe the credit card industry as a whole is a scam on the middle class. The only "person" who benefits from a credit card is the credit card company!
Just my humble opinion (JMHO)
Rose Hall
Just my humble opinion (JMHO)
Rose Hall
#16
Super Member
Join Date: Mar 2008
Location: AZ and CT
Posts: 4,898
The law doesn't go into effect for 9 months. The Friday night PBS analysts seem to think the credit card companies probably won't change their award programs - they'd just lose customers. Besides, if they do, you still have the 9 months to decide what to do.
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