Best way to use a CREDIT CARD

dranzer01

concernedSaver wrote: »

This is actually very surprising: I got an Amex recently, and requested an additional card for my OH. I specifically asked if the card would appear on her credit report, and they explicitly said no. They didn't even bother with a credit check.

see this is what i need to explicitly know... so i will give them another call and update you guys....

bigadaj

Anthorn wrote: »

In the post you quoted and replied to credit cards are not even mentioned. Or are you seeing something I don't see or alternatively in a world of your own making?

You seemly overly defensive.

The thread is about credit cards, you maintain that you pay interest and whilst i disagree that this is of any benefit I thank you for providing some profit to our beleaguered banks.

theoretica

dranzer01 wrote: »

see this is what i need to explicitly know... so i will give them another call and update you guys....

It would be a good idea to get a copy of your credit report and see if the card is mentioned on it.

Anthorn

bigadaj wrote: »

You seemly overly defensive.

The thread is about credit cards, you maintain that you pay interest and whilst i disagree that this is of any benefit I thank you for providing some profit to our beleaguered banks.

Let's take that to it's logical conclusion and apply it to everyone or at least all MSE users: Everyone pays off the full balance every month, no-one keeps a balance and no-one pays interest. Fair enough. That puts me on the fringe doing what everyone else is not doing. But in that case why the proliferation of 0% balance transfer cards when no-one has a balance to transfer? Along similar lines why is a lower APR seen as better than a higher APR? If there is no balance and no interest paid APR doesn't count.

The statements from yourself and others in this thread are full of holes. People get credit cards to get credit, pure and simple. It's not that they are frightened of it and avoid it but how they manage it that matters. I'm out.

glentoran99

Anthorn wrote: »

Let's take that to it's logical conclusion and apply it to everyone or at least all MSE users: Everyone pays off the full balance every month, no-one keeps a balance and no-one pays interest. Fair enough. That puts me on the fringe doing what everyone else is not doing. But in that case why the proliferation of 0% balance transfer cards when no-one has a balance to transfer? Along similar lines why is a lower APR seen as better than a higher APR? If there is no balance and no interest paid APR doesn't count.

The statements from yourself and others in this thread are full of holes. People get credit cards to get credit, pure and simple. It's not that they are frightened of it and avoid it but how they manage it that matters. I'm out.

Lots carry a balance but at 0% , when that's at an end you transfer to another 0% card, a balance transfer as it where,


Many also pay interest on their cards but I challenge you to find one that chooses to pay interest when they can afford to pay it off, its totally illogical

Anthorn

glentoran99 wrote: »

Many also pay interest on their cards

Thank you. So therefore many people get a credit card to get credit.

datlex

Going back to the original question as to what is best way to use a credit card. A lot depends on what the alternative is. It is not a straight forward as paying off in full each month. When planning your purchases you should also think which is the best way to pay. For me this means maximising the benefit, credits cards may have rewards/cashback, and minimising the cost, it may be cheaper to pay on credit card than on a longer term loan.
Personally I use my card for most every day purchases and pay the balance in full. (As someone said earlier, is wise to reconcile a bank account with your credit card)

glentoran99

Anthorn wrote: »

Thank you. So therefore many people get a credit card to get credit.

Of course they do, not sure of your point, paying interest if you don't need to is still foolish as you seem to be implying you do

Anthorn

glentoran99 wrote: »

Of course they do, not sure of your point, paying interest if you don't need to is still foolish as you seem to be implying you do

But just because you have a 0% purchase credit card which you highlight in a previous post doesn't mean you don't have to make the minimum payment. Go ahead, check it out. And while an APR of say the ubiquitous 18.9% APR may seem like a lot but on a monthly basis it's not really a lot at all. Go ahead and check that out too.

Yes I do pay interest on my credit cards as do many others but it's strictly controlled and budgeted. If I cannot afford it I don't use the credit card in the first place.

btw I just got approved for an American Express (green) card

glentoran99

Anthorn wrote: »

But just because you have a 0% purchase credit card which you highlight in a previous post doesn't mean you don't have to make the minimum payment. Go ahead, check it out. And while an APR of say the ubiquitous 18.9% APR may seem like a lot but on a monthly basis it's not really a lot at all. Go ahead and check that out too.

Yes I do pay interest on my credit cards as do many others but it's strictly controlled and budgeted. If I cannot afford it I don't use the credit card in the first place.

btw I just got approved for an American Express (green) card

you've lost me. Who said you don't have to make minimum payment, we were talking about interest, and why would you pay interest if you have the capital to pay it off, no matter how much you seem to be trying to go off on tangents it doesn't make sense.


the thread is about the best way to use credit cards and the best way if you can is not to pay any interest.