are you smart when it comes to your credit card?

Question

I learned to only use it for car repairs and food what about you.

Answer 1

Now I am, I had to learn the hard way.

Answer 2

I have a Chase Visa I have had for 15yrs... I make my major purchases with it... I once bought my daughter a $10000.00 car on it at 1.9 % for 2 years... a dang bank can't give me that rate on a used car, interest was $15. a mo... I always take advantage of the 0% for a year and I pay it off in a year... if you decipline yourself to follow the rules and pay like it says... it's like money for free... interest free or very little interest... having the same card for so long I have about a $20000.00 line of credit... I never use it to buy food or gas... only my big purchases... I really never use the actual card itself... Chase send me acces checks... normallly send three checks... each one giving me a different option... 1.99% for the life of the loan or 6 month no interest... they are great... "Chase Bank of NY"

Answer 3

Yes, I opened so many credit card accounts, and now at age 18 I bought a house.

Thank you credit cards!

P.S. I do owe a few thousand dollars to credit card companies, but that's not the point. The point is, I work full time as a programmer and have enough money to pay off the minimum per month.

If you are in debt and can't pay it off, and keep going into debt, that is what's bad. In my case, I'm in debt, but I am owing less and less every month as of now.

Answer 4

I have an American Express card from Costco that has no annual fee and gives 1% back. I use it everywhere it will be accepted for everything that I would ordinarily buy. Monthly I pay off the entire balance. I have not had a balance carried over for over 30 years.

Answer 5

I dont own a credit card cuz if I dont have one i cant charge stuff on it, but using it for vehicle repairs only might be a car saver...

Answer 6

I never use it for food, or any day to day expense. Emergencies only like car repairs. But the most important rule is to pay off your balance each month, no matter what you use it for. If you can't pay off your balance each month, then you're a fool and will spend years paying for that dinner at Bennigans.

Answer 7

Food on a credit card your nuts? I never use mine. It is in a block of ice hidden in the remote access of my mothers freezer. Have to go 20 miles and wait for it to defrost. In that time I have to decide if it is important or not and it normally isn't important enough.

Answer 8

Yes, take advantage of introductory promotions, never carry a balance (pay in full every month), use reward cards (5% for gas and groceries, 1% everywhere else)...and follow discussion threads such as these:
http://www.fatwallet.com/t/52/524032/

Answer 9

I have exactly one credit card, I hardly ever use it. It's generally
for emergencies or purchases where I don't want to carry large
amounts of cash. I like to stay out of debt.

Answer 10

Usually. What works for me is keeping a running total of whatever I've charged and when I've reached MY limit (never mind the card limit -- that's just an incentive to spend) I stop.

Answer 11

as long as you remember how much you've spent and plan to pay for it at the end of the month you'll have no problem. Don't be like me and put your schools tuition on it, unless you've got the money to pay it back with in a month!