Credit Cards


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PrettiEyes

High on Life!
I had an interesting conversation with a friend of mine about credit cards. There are alot of different programs out their such as frequent flyer miles, cash back rewards, and all that other good stuff. Some of us just have the plain old regular card. My question is how many credit cards (this includes store cards too) do you own and what do you use it for? Personally, I have 2 but it's not all that rewards program stuff. No store cards either. Did you get the credit card just for the frequent flyer miles, gift certificates, free trips or other?



Carry On...
P.E
 
PE,

They credit cards I carry are for 2 things:

Low interest rates and points, ie. hotel points, frequent flyer, cash back, etc.

I use mostly use my Hilton Honors Citibank card because of the low interest rate and the Hilton Hotel points. I use this card for paying my bills as well. I pay my cell bill, electric, etc. with the card and pay off these bills with $$$ at month end when I pay my credit card bill.

Personally I don't believe in store credit cards because of the high interest rates. Most store cards interest rates are nearly 21%. Why have a store card with hight rates, when you can use you Visa/Mastercard at the store and get a low interest rate as well.

Just my opinion though.
 



TruBluJAG said:
PE,



Personally I don't believe in store credit cards because of the high interest rates. Most store cards interest rates are nearly 21%. Why have a store card with hight rates, when you can use you Visa/Mastercard at the store and get a low interest rate as well.

Just my opinion though.
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I agree with you completely on that. :tup:
 
we only have 2...and we don't do store cards except like Sears we keep a zero balance on it so we can charge say a washing machine or refrigerator if we needed it...since we have that stuff now we have not used it.

Oh we keep 1 Zales card too. Doesn't matter the interest on the card, I try to pay it out in 3 months. If I can't pay it all out, I pay double, triple or quadruple and then zap it out around income tax time.

NEVER PAY THE MINIMUM UNLESS THAT'S ALL YOU'VE GOT.
 
J4J said:
NEVER PAY THE MINIMUM UNLESS THAT'S ALL YOU'VE GOT.
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Some people are not discipline like me but I have a rule of not charging something on my credit card that I can't pay off in full. I'm still like that now. My mother to this day still don't know how I do it or where I learned that from. I sure didn't learn that from nobody in the family.
 
PrettiEyes said:
Some people are not discipline like me but I have a rule of not charging something on my credit card that I can't pay off in full. I'm still like that now. My mother to this day still don't know how I do it or where I learned that from. I sure didn't learn that from nobody in the family.
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My family either. I learned what not to do from them.

However, my father is great with his. He pays stuff off in 3 months at the max...if he can't, he will pay triple and then when he gets a lump some of money, he pays it out. I didn't live with him growing up so he didn't teach it to me. Later in life, I learned this is how he'd operate. If he can pay cash, he does. No matter what it is. Furniture, expensive rugs that cost $1000---CASH. He only charges if he can't wait to get it which is rare. He has the patience of job. Or he will charge it in an emergency.

He has A+ credit! He bought a 4000 sq. foot house with NO JOB. LOL
 
I have 3 cards, only one is "active" (which reminds me I need to cancel the third one.) The one that I don't use previously had the rewards and all of that, but it ended last yr & I no longer use it. The 2nd one is where I consolidated some bills. I do not use it; I'm paying it down. I do NOT believe in store credit cards.

Now, I'm a shopaholic so, I've had to make a concerted effort to shop less and pay for things w/cash. I'm doing much better than I used to which has enabled me so save & invest more. :D :bowdown:
 
I have ONE mastercard, w/a very LOW limit...it is only for emergencies. I don't use credit cards...I use my visa debit card and/or pay cash for everything.
 
I have a platinum American Express that I use for almost EVERY purchase, and then pay it completely off at the end of each billing cycle. I earn mega points for airline tickets and hotel rooms, freebies and upgrades.

I have a Mastercard with a low limit/interest rate and a VISA with a large limit/low interest rate. I generally pay triple the monthly payment and when I settle a case or a client pays me, I zap those balances.

I also have a business line of credit with my bank that is HUGE, but I pay it down all the time (it is really low right now) and use it for emergencies ONLY.
 
Those points pay off as well.

I've earned enough points thru Hilton Honors to get 6 free Nights at the Hilton Hawiian Resort in Honolulu, Hawaii.

Mind you most of the points I got from Business travel and staying at Hilton Hotels.

I am using the points next month when I go to Hawaii. I am staying 10 days, getting six nights free and going over to Maui and pay for 4 nights.

I can't wait to get "LEID" in Hawaii! :ebrow:
 
Off topic, TruBluJag I suggest you try the breakfast bar at Duke's Waikiki Restaurant in downtown Oahu.
 
I had 4 store credit cards that I rarely used. I recently paid them off and closed them out. I now only have my Check Card that I used almost too much. I plan to get a low interest rewards type credit card for travel purposes. That's it.
 
SU's Finest '93 said:
I have ONE mastercard, w/a very LOW limit...it is only for emergencies. I don't use credit cards...I use my visa debit card and/or pay cash for everything.
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Same here, except I have a Visa also, but both are for extreme emergencies, everything else is paid for with my bank debit card or I pay cash...
 
I dont have any store cards, but I use cards that are free and provide airlines miles or hotel points or cash back (3% to 5%) on gasoline purchases. The airlines ones are getting tougher to have becuase they want to charge an annual fee - Many offer the first year for free. If the card does not give me anything back like miles, points etc, then I wont use it. If you carry balances on your cards, then you should focus on cards that provide low interest rates - if you pay off your balances on a monthly basis - look for the cards that give you freebies.
 
I have one credit card. Its just easier. Its for emergencies only, so no cash means no play for me.

Im a recovering shop-a-holic so I get really serious when it comes to charging things.
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I use only one card though I have many. With this one I get reward points because I put all my travel related expenses on it. So I rack up lot's of points on it because of United airlines , Hilton hotels, Hertz and meals while travelling on Business. I use my reward points to get un-necessary stuff because I can.
 
I love credit cards!!! They paid for my wedding......

I couldn't tell you how many the wife and I have when you include store cards. Maybe about 8 major credit cards though. But we only have a balance on 2. The reason we have so many is because we opened about 3 new accounts when we were married instead of getting a bank loan, plus accounts we both had when we were married, but those were already at zero balance. We were able to get cards with zero interest for anywhere from 12-24 months, and there is no bank loan that could compete with that. Then we have one primary credit card that we use when out of town, etc. But we make sure to never carry a balance over 3-4 grand, well below the limit. And it is rarely even that high. Plus many of the other cards aren't available. But the accounts remain open, so I counted them in my earlier total. Once we use the card for the purpose intended, we usually destroy the card, thereby making it impossible to use. That also removes the temptation. That way when the balance hits zero, it stays at zero. But I have learned it pays to have good credit. The no interest deals really helped when financing our wedding or other big purchases. And saying we never pay the minimum goes without saying.

As for the store cards, whenever we use one, we pay it off immediatly. We never pay interest to the store. For instance before the wife went out to sea, we bought items from Old Navy, American Eagle, Bath and Body Works, and used those store cards. And as soon as we got home, I did online payments to all those accounts for the exact amount spent.
 
I have a Home Depot card that I use for the crib with that 6 months same as cash deal. I have a few department store cards but I don't use them. I'm currently in the process of searching for a MC/Visa with a low interest rate and no annual fee (to have in case of emergencies).
 
That site had me turn up the volume when I heard Issac Hayes "Shaft" playing in the backgroud! :nod:
 
I have a Best Buy store card simply because on most purchases of over $300 dollars you receive an interest free time frame to pay it back.
 
:blush: I forget to "confess" about my Dillard's charge account! I use it often for clothes, shoes, linens, perfume, makeup, purses, EVERYDAYUMTHANG and the balance is SKY HIGH :shame: and the amount I pay every month is disgraceful. :bawling:

Please don't tell! :shh: I hide the bill EVERY MONTH. :read:


I am addicted to Dillard's. :sick:

When I was in Spain and Africa the month of June, I wore out our joint VISA account, but THANK GOD my client shucked down a nice lump sum on his case and I just shipped that right to VISA and paid it off! WHEW! :dizzy: I am a recovering shopaholic too.
 
We, the wifey, have a bunch of cards that we do not use.

We put up the Shell Card and now we are using the AAA Master Card. They are giving us %5 back on gas purchases..
 
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