Comments on: Breaking News: Some Americans Pay Off Their Credit Cards in Full http://beancounterblog.com/2008/06/24/breaking-news-some-americans-pay-off-their-credit-cards-in-full/ Thu, 06 May 2010 19:28:41 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Joe http://beancounterblog.com/2008/06/24/breaking-news-some-americans-pay-off-their-credit-cards-in-full/comment-page-1/#comment-79825 Joe Sun, 31 May 2009 17:09:58 +0000 http://beancounterblog.com/?p=581#comment-79825 I never charge more in a month than I have in the bank to pay in full when the bill arrives. I keep careful track of the billing cutoff date so that I don't accidentally spend too much. Credit cards are a trap and now that so many more places accept them than in the past, it's too easy to become ensnared. I mean, people are buying food and paying the rent with them now. It's insane to live your life on credit. Sooner or later it catches up to you and you end up finding yourself doing things like card kiting to keep from actually having to make a payment. Keep one card for a big emergency that you can't pay for with cash and charge a few little things each month to build credit, but don't become dependent on them. Too much reliance on credit and not enough on savings is part of what is bringing us to ruin in this economic crisis. I never charge more in a month than I have in the bank to pay in full when the bill arrives. I keep careful track of the billing cutoff date so that I don’t accidentally spend too much. Credit cards are a trap and now that so many more places accept them than in the past, it’s too easy to become ensnared. I mean, people are buying food and paying the rent with them now. It’s insane to live your life on credit. Sooner or later it catches up to you and you end up finding yourself doing things like card kiting to keep from actually having to make a payment. Keep one card for a big emergency that you can’t pay for with cash and charge a few little things each month to build credit, but don’t become dependent on them. Too much reliance on credit and not enough on savings is part of what is bringing us to ruin in this economic crisis.

]]> By: Mike Rundle http://beancounterblog.com/2008/06/24/breaking-news-some-americans-pay-off-their-credit-cards-in-full/comment-page-1/#comment-71802 Mike Rundle Fri, 27 Jun 2008 01:55:05 +0000 http://beancounterblog.com/?p=581#comment-71802 I was stupid in college and basically used my credit card in lieu of working more with the thought that I'd just pay it off in full once I got a job. I ended up starting my own business instead, so the balance just sat there. I've always been smart enough to keep it on a 0% APR card, but it's always been something I'm less than proud of. What I *am* proud of is that my CC debt will be paid off completely in the fall, and then I'll absolutely be one of the people who pay it off in full every month if I choose to use them at all. As it sits right now I haven't used a CC in over 2 years, but have simply been paying big chunks each month. The CC companies don't really like this so they've been upping my credit limit so much that I can now buy a nice, new car with my CC, not that I'd ever do that! I was stupid in college and basically used my credit card in lieu of working more with the thought that I’d just pay it off in full once I got a job. I ended up starting my own business instead, so the balance just sat there. I’ve always been smart enough to keep it on a 0% APR card, but it’s always been something I’m less than proud of.

What I *am* proud of is that my CC debt will be paid off completely in the fall, and then I’ll absolutely be one of the people who pay it off in full every month if I choose to use them at all. As it sits right now I haven’t used a CC in over 2 years, but have simply been paying big chunks each month. The CC companies don’t really like this so they’ve been upping my credit limit so much that I can now buy a nice, new car with my CC, not that I’d ever do that!

]]> By: AJ http://beancounterblog.com/2008/06/24/breaking-news-some-americans-pay-off-their-credit-cards-in-full/comment-page-1/#comment-71760 AJ Wed, 25 Jun 2008 01:29:04 +0000 http://beancounterblog.com/?p=581#comment-71760 In full, every month. I've never carried a balance, ever. In full, every month. I’ve never carried a balance, ever.

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