Might want to check, because the banks are passing along inflation in the form of a 1.5% - 2.0% increase.
You're viewing a single comment thread. View all comments, or full comment thread.
Comments (23)
sorted by:
What's an extra 2% of virtually a zero balance?
The only value of a credit card is to keep a high credit score by having a large available balance, only charging a tiny amount occasionally and then nearly paying it off, only keeping a balance less than 10% of the limit.
Anyone who seriously owes high credit card balances is screwed in the coming months as the economy collapses.
Exactly. Always paid off before bill arrives and quarterly cash in the reward points.
A little tip I learned from listening to Clark Howard. Use a credit card to pay for all monthly expenses and pay it off every month. Credit card users are only responsible for up to $50 for unauthorized purchases. Use a debit card and there is no limit to the amount you would owe if used fraudulently. And with the right credit card, you’ll also get cash BACK every month.
This is true. I don't even have a debit card. Everything goes on an Amex Hilton card. You won't get a better return in points. I stay permanent diamond status and accrue 1-2 weeks worth of free nights/year.
Depends on the bank. My debit card has liability limits just like a credit card no matter how it's used.
The only difference is it'll suck a lot more having my checking account borked while it's sorted out than just not being able to use a credit card for a while.
You don't really need a credit score. If you don't owe anyone money, you can save up for everything you want to buy. I will be in that position soon. At that point I will pay cash for cars and everything else. I'm already at that point, except for the current car loan. But that will be gone soon, a few years early. I'm good with my current house, so I won't ever be buying another one. But a family with a decent pay and no credit bills shouldn't have much trouble saving up for a house in just a few years.
Wise moves 👌
Dave Ramsey may be hard to take for some people, but he's correct in his snowball plan to eliminate all debt.