Credit Cards & Cheapskates

 Hello Family How Are You Today?

Credit Cards and the Cheapskate

I find them wonderfully useful, provided you religiously pay the balance in full promptly every month.

I've had a card for more than five years. They haven't made a cent off me yet. I get a monthly accounting of all my grocery purchases and utility bills (1% cash back on both), so I can use my card statements to track those budget items.
This is my partner not me. He believes that you can use credit cards as long as you pay the bill in full when you get it. I will admit when I see our credit card statement it helps me keep track of our  spending. I can see on a monthly basis how much we spend on food, drugs and other things. This way I know what to cut back on in the coming months.

 But me I tell people it's against my religion to use credit cards which it is. The  religion of being debt free. I have not  personally used a credit car in over 10 years. Now I will use my debit card if I need to but that is rare. I feel that with the high interest and even with some credit card charging you to use their services it's not worth it to me. So I don't use them.

Some people use them for the cashback rewards that credit cards offer when you use them. But they are also paying  the transaction fees for the use of that service. So is the credit card company really giving you anything that your not already paying for?

Some people say that having a credit card will help your build your credit. I say  their are other ways to do that. One if  take a small bank loan and pay it back isn't that credit building. Why do we need a credit history anyway? Ok if you need to buy a car or a home what else would we need a credit history for? If your buying a car then find a used one in good condition and pay cash for it. For a home purchase ok you might need the credit history. But try to find other ways to get the house you want with out the credit history that the banks require.  Just my thoughts.

What do you think?

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