Protestantism

» Migisi - Credit cards

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From the blog "avoid Chritmas shopping debt":
"There is NO positive side to credit card use."
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Sure, there's a positive side. First, you needn't carry pockets full of cash. Second, to reserve a hotel room, rent a car or a moving van, set up a video rental account, get your car towed, etc., many (if not most) businesses ~require~ a credit card number. These days, it's difficult to function without a card.
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However, having survived 'credit card hell' myself years ago, my advice is:
1. You can use a bank 'debit' card instead, but remember that if you 'overdraw' on your bank account, some banks will allow the overdraft to go through, but they'll charge you really high fees and interest just like a credit card.
2. Choose a credit card that doesn't charge an annual fee.
3. Keep the credit card limit to $1000 max, and reject their automatic "good customer" increase.
4. PAY OFF EVERY DOLLAR you've charged that month - on or before the due date. Despite the rumors... credit card companies HATE when you pay in full and on time - because they can't make money off you via late fees and interest.
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And that's HO HO HO on them!

-- posted by Migisi