26 Answers

MY credit card got out of hand so i cut them up and threw them in the bin , cash from now on, no cash, no credit - it is the only way to discipline my self.

Ducky

Good you realized...it's difficult to get out from under CC debt, isn't it?

One card used for business and zero balance... I am not a fan of buying when you don't have the cash in the bank.

Ducky

Thanks fish..agreed.

Depends who has credit card, and if person can afford to make back payments, and on time. I seldom use mine, I like  to have cash, this way I can keep tract of how much Im spending.

Ducky

Same here...credit cards have their place as a convenience but I still like "old-fashioned cash".

Today, a credit card is a necessity, but it could lead to financial disaster.  People need to understand percentage rates and the actual cost of borrowing.  Unfortunately, our schools require algebra, but do not teach personal finance and the risks involved with credit card use.  I do have more than one card and try to keep my balance to a minimum.

Ducky

Thanks kelozin. I do not pay interest on my (one) CC ever, as I bring it back to zero always. As you say, it seems to be a necessity for various reasons, doesn't it?

.....................gathsp!!!! help!.....................................................................

Ducky

Maybe you need to stay there overnight? Would you learn your lesson then? My sympathy for you is running out!!!!!!!!

One debit card, no money? No spendy.

Ducky

Yep..spend AFTER you save for it.

Ducky

Right, I forget. What a silly question for ye, KOTF, so TU for responding. lol

I think I have almost a full deck of credit cards.  I use 2 and pay in full always. 

Ducky

You Bob...a full deck??? Haha (kidding)

Yes i do have a credit card, and i have established a good credit rating.I use it wisely, my credit card saved the day when my refridgerator died,i make larger payments monthly to beat the interest charges.

Ducky

Yes the emergencies can be taken care of by that handy CC...key words.."use wisely".

I use to collect them like charm bracelets as I just love them now I only have about 5 but just use 2

Ducky

Charm bracelets? LOL!!!

Ducky

@mel...Oh not at all...LOL!!!

There bad if you don't know how to use them, don't charge anything you don't have the money to pay for and keep a 0 balance, double digit interest rates are a bad thing.

Ducky

Yes they are and so many young people seem to have no idea how much extra they are paying. I saw a CC bill one day (not mine) and the interest rate....27%...robbery!

I have two, one for my wife's purchases and one for our general expenses. Both earn frequent flier miles and I charge everything, but pay the balance each month to avoid interest charges. The total each month is very high but it is something I plan for.

Ducky

CC planning and zero balances are the way to go.

Ive got two but very rare i use either.One was tescos as i wanted the clubcard points.The other was from my bank,they talked me into it!!!Think the golden rule is always clear the balance if you possibly can.Im with Ducky and Dollybird really,cash is king

Ducky

Thanks leosmaml.

..............................thuck in the bottthhhhle .....................SOS!

Ducky

Fish Fry...WHAT IS THE MATTER WITH YOU! You get yourself into so much trouble. Now, how did you get in there and what are we supposed to do?

Colleen

I did not stick my foot out to trip Ducky intentionally!!! IT WAS AN ACCIDENT!!!! Ducky, you okay?.......Ducky?........Ducky???????
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Ducky??
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SOMEONE CALL 911!!!!

Ducky

Oh here we go again. moan..groan...sigh...oh I think I've broken a wing this time. I'm not saving FF anymore. Colleen wants to kill her, obviously.

No. I use debit card and cash. I know people who got way over theire head with credit cards and are in financial trouble.

Ducky

Often those are the ones who have several as it's so easy to get more, once you have one.

Had about four or five a few years ago, now just the one. Can't afford debts nowadays.

I pay absolutely everything with my credit card, clothing, fuel, groceries and bills but the important thing is to use the banks and institutions, take advantage of the free credit time and always make sure you never, ever pay them interest

Ducky

No interest is the key...good use of a card.

Two.. a debit and a credit card, i only use the c.c. for emergencies but the debit card on the other hand is used all too much..

Ducky

Yep...just like cash..no "paying later".

I have never had a credit card and do not want one. I suppose, if you pay everything on time to the bank, then you're sweet. My policy is to never owe money to anyone!

Ducky

I've needed to have one at various times...to call ahead for a hotel room while travelling, for instance, you must give them a CC number to hold it.

Ducky

Oh, and how do you get that money to the hotel ahead, say for the next night stay? We are asked for a CC# when reserving a room. Then upon check out, you can leave it on your card, or pay cash, right then.

Only two. Haven't used either in many years. Wife and I traveled a lot at one time and without a credit card you can not rent a car.

Ducky

Yes..pretty restricted without a CC on the road.

Credit cards arnt bad or good they just lie around to see if the user is bad or good , like a gun realy

more than one credit card is a bad idea. It has ruined more than one marriage........including my stepdaughter's. When you have more than one, you're borrowing money from Peter to pay off Paul; and  you're throwing good money after bad. What that means is, ........if you owe money on one credit card, that means you don't have the money on hand to charge other items on a different credit card. And certainly if  you're maxed out on one card, DON'T open another credit account. Credit cards were never meant to be used as money, b/c in most cases, there's no money backing them up......meaning  you have no extra money.

Ducky

This is exactly what prompted my question. I overheard a person say "Well, after Christmas, I'll start paying off my credit cards, a little at a time. I have to get it back down to 3 and get rid of all the other ones". (My thought...yikes!)

CC establishes your credit so use it wisely and be diciplined, Pay off when u get the statement or you will pay 19, 20 or 21% interest and that is like quicksand.

Yes more than one  yes today a neccessity cards not bad just people who use one unwisely

Ducky

Have to have one for sure...some have many and then the trouble starts.

! credit card,only used it once,it is there for emergency only,and always get back to zero balance as soon as possible..>>>>>>>><<<<<<<<..

They are very good for those who know how to use them - as a convenient/rapid/safe of paying for your purchases. I always pay of my oustanding balance in full.

It could be very bad for some (too many) people that don't know how to use them.

Four.  I can have them paid off in your months. Was fun while it lasted! I do have two I'm saving for Chicago as the trust doesn't cover food. Got to remember to tell them I'm going out of state so they won't think of them as stolen.  They would,  you know. 

Ducky

Yes I know....good that the credit card companies keep an eye on our charges.