Poll of the Day > Credit card questions...

(+) Yeah! (+)

Do you have a credit card? Why or why not? And what kind of things do you use it for? I know some people who only use it for emergencies. Some people only use it for bills, and pay it off every month. Some people use them for everything. Then pay it off with their paychecks. And some use it for only entertainment or fun items. So, what about you guys?
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I have many. I pay them all off in full every month.

SkynyrdRocker posted...

I have many. I pay them all off in full every month.

So, do you just use the credit cards for everything?
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I use it for most things and pay the thing off monthly. No real point not to use a credit card, especially given the perks.
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Zangulus posted...

I use mine for emergencies at this point... the last 18 months have been one long emergency.

Monday I have to start changing that.

Before that, I used them for everyday purchases and paid them off.

I use to have it for emergencies at first. Then for a few things that I just wanted. Then, for a couple months, I sort of loved off of them. So, Ive been paying it off. And will probably be able to pay it completely off soon... I hope...
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Zeus posted...

I use it for most things and pay the thing off monthly. No real point not to use a credit card, especially given the perks.

Thats true. And as long as you dont use what you dont have(or will make), it should be fine.
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What are the perks?
21 year old who knows nothing about credit cards/banking here.
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i have a lot of college expense debt on mine that i've been trying to pay off but it seems like every time i make a dent i get an emergency that i need to put on there that just brings the balance back up.
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dezmomo posted...

What are the perks?
21 year old who knows nothing about credit cards/banking here.

They can change depending on where you get he credit card from.
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Jen0125 posted...

i have a lot of college expense debt on mine that i've been trying to pay off but it seems like every time i make a dent i get an emergency that i need to put on there that just brings the balance back up.

I know what you mean. Its happened to me a couple times as well. When I was paying it off last time, I had an emergency vet visit. Another time, I had to go home for a funeral. And the tickets werent cheap. But, I think I can get it this time...
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i was able to get an increase on my limit this past week for the first time in about 8 years so at least my credit utilization ratio will decrease again. whenever i open up a credit line i ask for increases whenever i get a raise at work so my utilization percentage will go down. i have about 5-6 lines of credit for different things and i only have a balance on one of my actual credit cards.
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Don't have one or need one for anything.

Jen0125 posted...

i was able to get an increase on my limit this past week for the first time in about 8 years so at least my credit utilization ratio will decrease again. whenever i open up a credit line i ask for increases whenever i get a raise at work so my utilization percentage will go down. i have about 5-6 lines of credit for different things and i only have a balance on one of my actual credit cards.

Oh. Thats a good idea.

xjayguyx posted...

Don't have one or need one for anything.

Its sometimes good to have one if something ever happens. But its also good not to need it.
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yeah, i have 88% utilization of my one credit card but overall i only have 41% because of what i've done. it helps me maintain a high credit score.
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Jen0125 posted...

yeah, i have 88% utilization of my one credit card but overall i only have 41% because of what i've done. it helps me maintain a high credit score.

Pretty smart.
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We just got a loan to consolidate our 3 card balances with an interest rate of 7.8%. Our debt will be paid off in 5 years.
So excited with our adulting!
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SusanGreenEyes posted...

We just got a loan to consolidate our 3 card balances with an interest rate of 7.8%. Our debt will be paid off in 5 years.
So excited with our adulting!

I should have done that. And I didn't. But it was ok because I had to the money to pay all of them off. And then make some charges on one, but only one. So I only have that one to worry about. And congrats of the adulting! It's hard sometimes...
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LinkPizza posted...

SusanGreenEyes posted...

We just got a loan to consolidate our 3 card balances with an interest rate of 7.8%. Our debt will be paid off in 5 years.
So excited with our adulting!

I should have done that. And I didn't. But it was ok because I had to the money to pay all of them off. And then make some charges on one, but only one. So I only have that one to worry about. And congrats of the adulting! It's hard sometimes...

Great job, dude!
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Jen0125 posted...

yeah, i have 88% utilization of my one credit card but overall i only have 41% because of what i've done. it helps me maintain a high credit score.

Nice. I just got offered another credit increase and I'm going to take it because my utilization is high enough to be hurting my credit score right now. Once I'm back to work it'll be ok. Just stressed without income. Everything is going on the card until I have steady work. I'm paying off the credit card with my line of credit that has a much lower interest rate. And I'm using the limited cash to pay my line of credit.

I try to pretend I can't spend any money but the automatic deductions of life are adding up in a hurry. Oh and things like emergency vet visits
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Yes.
Convenience -- I average about 2 visits to the bank per year to cash checks I get on my birthday and Christmas. My bowling league payout of less than $100 literally lasts me the entire year for cash purchases.
I use it for practically all purchases -- about the only thing I use cash for is vending machine purchases.
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I have three. Started out with a secure one with a 250$ limit, built my credit up, got a Target one with a 2000$ limit, used it for Christmas gifts, paid it off in about three months, then got a Costco one with a 5000$ limit. Havent used it much yet.

I use a wal mart credit card and pay it off every week or two. As far as I know it doesn't have any fees and I've used it to get a few hundred dollars of stuff there for free with the rewards program.
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I don't have any cause if I did I'd probably get myself into debt.
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I put a lot of thought into it before I got any credit cards. First I used a secure credit card to establish my credit. Then I canceled it, and got 3 new credit cards all with different perks. I use one for travel and dining, one for gas and groceries, and I keep one handy for emergency medical/dental work. I just pay them all off on the same day every month, so far it has been working out great! With all of the bonus points I get, I can get some pretty nifty rewards.
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Blaqthourne posted...

Yes.
Convenience -- I average about 2 visits to the bank per year to cash checks I get on my birthday and Christmas. My bowling league payout of less than $100 literally lasts me the entire year for cash purchases.
I use it for practically all purchases -- about the only thing I use cash for is vending machine purchases.

A lot of vending machines also have the card things now, too...

MICHALECOLE posted...

I have three. Started out with a secure one with a 250$ limit, built my credit up, got a Target one with a 2000$ limit, used it for Christmas gifts, paid it off in about three months, then got a Costco one with a 5000$ limit. Havent used it much yet.

It is good to have them. Even if you dont use or need it.

J_Dawg983 posted...

I use a wal mart credit card and pay it off every week or two. As far as I know it doesn't have any fees and I've used it to get a few hundred dollars of stuff there for free with the rewards program.

Thats really good. I probably shoudve gotten one a long time ago.

AllstarSniper32 posted...

I don't have any cause if I did I'd probably get myself into debt.

There are a good amount of people I know who have said the same thing. And it would be easy to do it...

CaptainObvius posted...

I put a lot of thought into it before I got any credit cards. First I used a secure credit card to establish my credit. Then I canceled it, and got 3 new credit cards all with different perks. I use one for travel and dining, one for gas and groceries, and I keep one handy for emergency medical/dental work. I just pay them all off on the same day every month, so far it has been working out great! With all of the bonus points I get, I can get some pretty nifty rewards.

Thats a pretty good idea. Especially with all the perks. I would get them confused all the time...
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dezmomo posted...

What are the perks?
21 year old who knows nothing about credit cards/banking here.

Depends on the credit card, but usually either cashback or airline mileage. And you also have better protections in case you realize you've been overcharged or have a dispute with the merchant. iirc, one time a friend was having trouble returning a defective product to a store (because they didn't want to take it back for whatever reason) so he called his credit card company and they just refunded the transaction from their end.
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