(Offline)
I have two CCs that I use on a regular basis, Discover and MasterCard. We pay almost all of our regular expenses with the Discover card (grocery, gas, department store, restaurant, travel etc). Those that can not be paid with the DC are paid with the MC. Both cards have a refund program (I call it kickback) that gives us back about 1%.
We seldom spend any cash and tap the ATM for maybe $50 every few months or so. We have a debit card, but rarely use it as I appreciate the fact that I am getting an interest free loan from the CC company with the use of a CC and the debit card is like writing a check.
I have never paid a late fee, or any other fee related to a credit card, during the last 30+ years. I always pay off the entire balance each month via ACH.
I realize that CCs have been the downfall of many of my fellow citizens however, all you need is a little simple system that allows you to beat the banks at their little shell game.
I understand that the banks and CC companies have a name for a person like me~Dead Beat! I wear that tag proudly.
(Offline)
I understand that the banks and CC companies have a name for a person like me~Dead Beat! I wear that tag proudly.
Better than drowning in credit card debt you'll never see the end of. Good for you!
I saw a mention about Discover this week where a debt collector had called a bereaved family to see if they were going to pay the deceased's balance before it was even due. They don't even have to in most cases but the credit card companies will attempt to get it anyway. No matter how they try to sugar coat it with trained staff, it's a despicable practice.
http://www.nytimes.com/2009/03/04/business/04dead.html?_r=1
(Offline)
Micharch, you're an inspiration to us all. :) You've got that all figured out.
cookiefan said:
No matter how they try to sugar coat it with trained staff, it's a despicable practice.
I agree. I couldn't bring myself to do a job like that and be squeezing myself in amongst the bereaved families. Have some respect for their grief and the dead. The old "a debt dies with you" isn't true now but I could have sworn it used to be.
That's great. Keep it that way. Hope more people will follow that idea. It certainly is a great way to keep having financial freedom.
As with any credit card, though, control must start as soon as you get it - or it gets out of hand.