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Paying With Credit Cards

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I use my credit cards because they are both rewards cards and sometimes it's just more convenient. I am certain to always make an entry in my checkbook for the amount that I charged so I can pay the bill in full when it comes due. I get the benefit of time delayed payment plus rewards.

- Submitted by STORMTMB 7/17/2010 in Saving Money | 2 Comments

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Member Comments

SUE-Z-QUE 7/18/2010 12:04:00 AM

Plus it is much easier to take something back that has been paid for with a credit card rather than a check.

STORMY724 11/20/2010 1:14:00 AM

Great post. I've been doing something like this for years. Our rewards card gives us 3% on gasoline & restaurants, 2% on travel, and 1% on everything else. We aren't normally big spenders ---rarely buy what we don't absolutely need, eat out only when we are away from home (sometimes we even pack a lunch if we will be out all day.) However, we had a couple of big expenses this year, plus regular purchases for gasoline, food, clothing, utilities, etc. We will be getting more than $200 back in rewards. It's not much compared to what we spent, but it sure as hell is better than nothing. And it's convenient to have all of those purchases appear on one online bill and have to pay only one bill. The trick is to pay in full every single month or those rewards will be worthless, eaten up (and then come) by finance charges.

Related Secrets

Pay off Credit Cards - Save the Most Money

The most economical way to pay off credit cards is to list them from highest rate to lowest rate.

Make the minimum payment on low interest cards and pay as much Over the highest rate that you can.

If you have two (or more) high interest cards, pay off the one you owe the most money on first.

MORE INFORMATION:
Paying your cards off in this way will save you the most money in interest.

- Submitted by POPEYETHETURTLE 7/17/2010 | 4 Comments | View Secret

Reducing credit card debt

I have about $40,000 in credit card debt, yet I was still using my credit cards. I know- not very smart. This week, I decided to get smart. I shredded all of my credit cards! It felt great and now I know that I am literally unable to add to my credit card debt! I will continue to pay my bills on time and try to pay more than the minimum due. 410

- Submitted by JENMARS20 7/17/2010 | 8 Comments | View Secret

Stop impulse spending!

I always find SOMETHING I think is cute, but remind myself, "Do I really need it, or would I rather spend money on more important things?" (like paying down my credit card debt or saving for kids college education)

Also, I have a list of things I buy that I really can't resist, and look at every so often to think to myself "I could of spent that towards paying off my credit card".

I also don't use credit cards anymore. If I can't pay for it with cash, then I can't afford it!

- Submitted by BIKERDIANE 7/17/2010 | 2 Comments | View Secret

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