Comments on: Weekly Roundup: Credit Card Use Stings Edition

By: Kristen@The Frugal Girl

Kristen@The Frugal Girl — Fri, 10 Jul 2009 00:44:42 +0000

5% is a good rebate, so I say give the credit cards a try. If you start to get the least bit out of control with it, then stop.

I use credit cards for everything I can for the purposes of getting the rewards. I’ve never carried a balance, so the rewards are a total boon.

By: Holly

Holly — Thu, 09 Jul 2009 23:14:20 +0000

Just enter every gas transaction into your checking account and you’ll have the cash in your account when the bill arrives. Also, go to the bank card’s website and set up ‘autopay’. You no longer have to write the check each month. The credit card statement also is an easy way to see how much gas you’re using/need to budget for each month.

By: Dana Booth

Dana Booth — Thu, 09 Jul 2009 18:39:32 +0000

My apologies. In the last statement of my comment above, I accidentally said, “… you may or may not…”. I meant to say, “… they may or may not…”. You certainly have made no such global statement.

Thx.

By: Dana Booth

Dana Booth — Thu, 09 Jul 2009 18:36:00 +0000

I’d like to comment on the article about the “myth” of the parent that needs to work. I was appalled by the title ’cause it struck me as very judgmental. This was unfortunately confirmed in the author’s later comment in a reply, “…But I still think that any time you choose two incomes over one you are making a choice for money over staying home… ” [bripblap]

There are two different issues being discussed here. One is both spouses working, the other is whether it’s truly necessary or not.

Regarding women working, I have a Master’s in Statistics and have been a stay at home Mom for almost four years and have three young children. I have heard both praise and criticism for my choice then to stay home, and my need now to return to work.

You may notice I said my “need” now to return. Regarding necessity, I am only one case, but I’m sure there are many more. I am looking for work, trying to find something that will help while not hurting Mom/Family time too much. We barely squeak by on one salary, but have to be late on a bill sometimes to do so. We have no emergency fund, a 10-year old truck (no other vehicle), don’t eat out, and rent our home. We have cut back as far as we can. We _do_ need a second income and it’s not because of excess spending, or any other luxury. I wish people would not make global statements and judgements against people for whom you may or may not know all of their circumstances.

By: Steven@HundredGoals.com

Steven@HundredGoals.com — Thu, 09 Jul 2009 17:38:36 +0000

I went through the same thing a while back wrote a couple of articles about the exact same topic, Using Credit Wisely:

http://hundredgoals.com/2009/03/15/using-a-credit-card-wisely/

Maybe it will help to sway your opinion one way or another.

By: Matt Jabs

Matt Jabs — Thu, 09 Jul 2009 17:09:26 +0000

@Kosmo – that’s understandable. Just don’t forget that because they are paying more… you are paying more. The costs are passed on to you & me.

By: Jeff Tussey

Jeff Tussey — Thu, 09 Jul 2009 16:36:16 +0000

Why don’t you open another Debit card account and put around $500.00 in it. Use this card only for gas and then reimburse your “gas fund” each payday? You could even figure out your gas expense and have an average amount deposited automatically to your account.

By: Kevin@OutOfYourRut

Kevin@OutOfYourRut — Thu, 09 Jul 2009 16:14:18 +0000

If we want to be financial “puritans” we probably should ditch using the cards and pay cash, even and especially for gas since it’s ongoing and isn’t a major expense (at least not since the summer of 08 )

But another factor is if you live in area where all gas stations are self-sevice, using a card of some sort is a good idea because it keeps you from having to go into the store to pay cash, potentially standing in line to do so while your car is sitting unattended. We wait in line so often in so many places, if we can avoid it when buying gas, all the better. 5% cash back is just a sweetener.

Like Matt (#5), as a rule, I’m against using credit cards on general principal. But gas is one of those exceptions, in some cases.

By: Kosmo @ The Casual Observer

Kosmo @ The Casual Observer — Thu, 09 Jul 2009 15:35:14 +0000

@ Matt Jabs – Considering the fact that my gas station heavily advertises the card I use (signs on the pumps), I don’t feel too bad about the costs they may be incurring

By: lrgche

lrgche — Thu, 09 Jul 2009 15:04:24 +0000

I’m a big fan of Dave Ramsey and his Total Money Makeover & FPU.

My biggest concern is that if I promote, maybe even facilitate a FPU class, but I still have and use a credit card, is that hypocritical?

Should be get rid of it out of principle?

We did have a unexpected opportunity where using the card was “necessary”. We had money saved for buying furniture. It was in an ING savings account. Then we happened upon an Ashley Furniture that was closing and they had brought in an auction company for the last 3 days. We were able to get a complete king bedroom suit for more than 75% off the retail price. The catch – it had to be paid for immediately and our money was in ING, 3 day transfer away. If we had known about the auction in advance I would have made sure the money was in our checking account. So the alternative – we used the card and then transfered the money and paid it off within the week.