Comments on: Credit Cards ~ They Don’t Work For Us!

By: SMCcalifornia

SMCcalifornia — Sun, 31 May 2009 06:57:21 +0000

We just canceled our 2 Visa cards. I am relieved. We still have one Amex but we will cancel that one in the future. Having an emergency savings account makes more sense than using a credit card.

By: Sherry

Sherry — Sat, 09 May 2009 13:11:56 +0000

Great article! I had never thought of it being a problem if paying in full each month.

We have been using ours exclusively for emergencies since we got back from Japan and it has definitely worked out great.

By: abba12

abba12 — Thu, 07 May 2009 05:37:30 +0000

My family does keep a credit card, but it is an emergency card ONLY. It is reserved for suprise bills and medical expenses, or a boost for times like when dad (who worked from home) found he had to cancel a weeks worth of jobs becaue his truck died. I think it’s important to have something there in case there is an unexpected happening (having said this, we are a low income family so we had no savings, there was nothing to save. For someone with a savings account this isnt nececary)

We also use it for online purchases with the proviso the money is set aside, or paid or straight away, and since they’re only online purchases and have to be paid immediatly there is less temptation for ‘little extras’

By: Jennifer @ Smart.Healthy.Green.

Jennifer @ Smart.Healthy.Green. — Thu, 07 May 2009 04:16:33 +0000

Great post. We pay off our card every month and thought we were doing the right thing too. I have been wanting to switch to cash only, but have been putting it off. I think I now have the motivation. Thanks!

By: Stephanie

Stephanie — Thu, 07 May 2009 02:12:19 +0000

Thankfully we do not have credt cards. I always wondered about that cash back deal though. Thanks for putting that into perspective!

By: Monica

Monica — Wed, 06 May 2009 22:32:35 +0000

While I agree that credit cards arent good unless youre paying them off in full every month, what about your credit? Don’t you have to have at least one credit card to help your credit?

By: Jenna @ Newlyweds

Jenna @ Newlyweds — Wed, 06 May 2009 21:03:16 +0000

Great post, and so encouraging. Unfortunately we have credit card debt. But as in do we use them currently, that’s a big fat no!

By: Heather

Heather — Wed, 06 May 2009 20:34:56 +0000

My hubs and I have a pre-paid credit card that we use. We go to Wally world and load his paycheck onto there for our monthly bills. It is wonderful because there is no way to overspend. When the money is gone, it’s gone, and that’s it. We generally pay our bills online, and save money for postage. We leave a small amount of cash out for misc. spending, but other than that, we can access the account online at anytime, and keep close tabs on our $$. Thanks for your post! =)

By: Wendy

Wendy — Wed, 06 May 2009 18:00:59 +0000

What a timely post for me to read. I recently approached my husband with a Discover ad which tauts it’s 5% cash back and $100 back from the 1st $500 spent. My husband started politely shacking his head back and forth before I could finish my “reasons why we might want to consider getting this” talk. Thanks for the post!
Wendy

By: Suzanne

Suzanne — Wed, 06 May 2009 17:55:36 +0000

A few months ago I bought a Dave Ramsey book. I have yet to finish reading the whole thing (I keep waiting for a chance to sit down with hubby to read it together…hasn’t happened). But, I got far enough into it to decide to cut up my credit card. I didn’t have a balance on it, but I also know that I spent a ton more money at the store (instead of putting it into savings). The same thing happens with the debit card, so I usually leave it at home or in the car when I go shopping. That way I can only spend the cash I have on hand.

You have certainly inspired me to change the way I think about money. We’ve been building up our savings, paying off debt more quickly (car and student loan) and paying cash for almost everything. It’s great!