Comments on: Use Credit Cards Responsibly and Increase Credit Score http://www.thesunsfinancialdiary.com/personal-finance/state-of-my-credit-cards-use-them-but-responsibly-2/ Fri, 03 Feb 2012 17:42:24 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Rebeccahttp://www.thesunsfinancialdiary.com/personal-finance/state-of-my-credit-cards-use-them-but-responsibly-2/#comment-8588 Rebecca Thu, 03 May 2007 15:25:45 +0000 http://www.thesunsfinancialdiary.com/2007/02/07/state-of-my-credit-cards-use-them-but-responsibly-2/#comment-8588 Sun: Very nice! Oh, how those banks and credit card providers hate you now. If everyone who uses a credit card learns to use it to his advantage the way you do, all those cash backs, and no annual fees, and low APRs that a Citi MasterCard or Chase business card or whatever offers would surely vanish. But while "big spenders" are still out there, then those benefits are staying.Jonathan: I guess we tend to spend more when using credit cards because we temporarily forget the value of real money, simply because it's not there and what we're seeing is plastic. We forget that $100 is equivalent to x number of hours of work. With a card it's just one swipe. Sun: Very nice! Oh, how those banks and credit card providers hate you now. If everyone who uses a credit card learns to use it to his advantage the way you do, all those cash backs, and no annual fees, and low APRs that a Citi MasterCard or Chase business card or whatever offers would surely vanish. But while “big spenders” are still out there, then those benefits are staying.

Jonathan: I guess we tend to spend more when using credit cards because we temporarily forget the value of real money, simply because it’s not there and what we’re seeing is plastic. We forget that $100 is equivalent to x number of hours of work. With a card it’s just one swipe.

]]> By: The Sunhttp://www.thesunsfinancialdiary.com/personal-finance/state-of-my-credit-cards-use-them-but-responsibly-2/#comment-4796 The Sun Fri, 23 Mar 2007 04:36:24 +0000 http://www.thesunsfinancialdiary.com/2007/02/07/state-of-my-credit-cards-use-them-but-responsibly-2/#comment-4796 Jonathan: While I agree that the easy access of credit cards makes impulse shopping a lot easier, I don't have any comparison myself between shopping with cards and with cash since I almost charge everything with cards. It's true that we spent money on stuff that we don't use a lot, we try not to make our purchasing decision based on how easy we can pay the bill. I am interested in how you figured out you actually spent more when using credit cards. Jonathan: While I agree that the easy access of credit cards makes impulse shopping a lot easier, I don’t have any comparison myself between shopping with cards and with cash since I almost charge everything with cards. It’s true that we spent money on stuff that we don’t use a lot, we try not to make our purchasing decision based on how easy we can pay the bill. I am interested in how you figured out you actually spent more when using credit cards.

]]> By: Jonathan Chttp://www.thesunsfinancialdiary.com/personal-finance/state-of-my-credit-cards-use-them-but-responsibly-2/#comment-4774 Jonathan C Thu, 22 Mar 2007 16:36:01 +0000 http://www.thesunsfinancialdiary.com/2007/02/07/state-of-my-credit-cards-use-them-but-responsibly-2/#comment-4774 Sun,For you and me, the issue isn't about whether we carry a credit card balance. That is simply a no-brainer. What interests me is how my spending habits *do* change when I (or my wife) use credit. We spend more. Not so much as to get into debt, it just makes it more difficult to meet our savings goals.Thus, even despite all the cash-back rewards (2%, 5%, whatever), I find that we do better financially using cash only. Of course, I take out the occasional 0% balance transfer offer to make some interest income on the side... :)Jonathan Sun,

For you and me, the issue isn’t about whether we carry a credit card balance. That is simply a no-brainer. What interests me is how my spending habits *do* change when I (or my wife) use credit. We spend more. Not so much as to get into debt, it just makes it more difficult to meet our savings goals.

Thus, even despite all the cash-back rewards (2%, 5%, whatever), I find that we do better financially using cash only. Of course, I take out the occasional 0% balance transfer offer to make some interest income on the side… :)

Jonathan

]]> By: The Sunhttp://www.thesunsfinancialdiary.com/personal-finance/state-of-my-credit-cards-use-them-but-responsibly-2/#comment-2290 The Sun Thu, 08 Feb 2007 17:56:57 +0000 http://www.thesunsfinancialdiary.com/2007/02/07/state-of-my-credit-cards-use-them-but-responsibly-2/#comment-2290 A perfect score certainly looks nice, but when it comes rates that based on the credit score, it will make no difference at certain level. That being said, I still like to see my score goes above 800. That would be cool!I used to use UPromise card a lot until I got the Fidelity card which pays more cashback than the UPromise card. But whenever I shop online, I check the online shopping at Upromise first see if I can find the retailer on their list. That could give me both the rewards from the card and from shopping through Upromise. It's always good to see the rewards add up and get automatically invested. A perfect score certainly looks nice, but when it comes rates that based on the credit score, it will make no difference at certain level. That being said, I still like to see my score goes above 800. That would be cool!

I used to use UPromise card a lot until I got the Fidelity card which pays more cashback than the UPromise card. But whenever I shop online, I check the online shopping at Upromise first see if I can find the retailer on their list. That could give me both the rewards from the card and from shopping through Upromise. It’s always good to see the rewards add up and get automatically invested.

]]> By: The Digerati Lifehttp://www.thesunsfinancialdiary.com/personal-finance/state-of-my-credit-cards-use-them-but-responsibly-2/#comment-2281 The Digerati Life Thu, 08 Feb 2007 08:01:42 +0000 http://www.thesunsfinancialdiary.com/2007/02/07/state-of-my-credit-cards-use-them-but-responsibly-2/#comment-2281 Wow! you're in really good shape! :) You really got your finances going gangbusters here. I also have a Upromise 529 which I am very happy with. My husband and I both have cards so we double the rewards. The account has grown very well and the best things is how automated it is! I can't recall my credit score now but I think it's also in the 700's.... Great post! Wow! you’re in really good shape! :) You really got your finances going gangbusters here. I also have a Upromise 529 which I am very happy with. My husband and I both have cards so we double the rewards. The account has grown very well and the best things is how automated it is! I can’t recall my credit score now but I think it’s also in the 700′s…. Great post!

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