Comments on: Credit Card Rewards Duel: Knight Rewards vs Challenger Avoid

By: 9 Things to Know about Credit Cards | Fill Your Money Box

9 Things to Know about Credit Cards | Fill Your Money Box — Mon, 22 Nov 2010 18:18:24 +0000

[...] Your Rewards: Reward credit cards offer incentive programs to make you pay more on credit cards. These rewards can get you [...]

By: Kids and Money: 8 Financial Myths to Discuss With Your Child | Redeeming Riches

Wed, 20 Oct 2010 11:15:48 +0000

[...] There is, in fact, such a thing as a free lunch. For example, if you earned $10 on a credit card cash back rewards program just by buying things you were going to buy anyway, that could be considered a free [...]

By: Fred Schebesta

Fred Schebesta — Wed, 13 Jan 2010 23:56:24 +0000

Great tips guys, and interesting to see everyone’s personal strategies. Whatever strategy you choose, keeping credit card debt under control is key…

By: Jason

Jason — Wed, 13 Jan 2010 12:27:21 +0000

Kevin – thanks for the comment, glad you liked the metaphor (Fred did a great job with the guest post!).

I can totally see both sides of this issue and I don’t think it’s wrong either way. From a simplification standpoint, it probably is simpler to use a cash/envelope system and once you run out you run out. I know it is easier to keep spending when you use cards.

By: JoeTaxpayer

JoeTaxpayer — Wed, 13 Jan 2010 02:46:59 +0000

Kevin – I have to ask, how would it be simpler for me to ‘not’ use the cards? Every visit to the grocery store, I’d have to check my wallet. Now, I send one electronic payment, no issue trying to decide where to use cash vs checks, etc. I’m just trying to understand the aversion.
.-= JoeTaxpayer´s last blog ..More on Estate Planning =-.

By: Kevin@OutOfYourRut

Kevin@OutOfYourRut — Tue, 12 Jan 2010 22:16:50 +0000

BTW, Jason, nice use of metaphors... .-= Kevin@OutOfYourRut´s last blog ..Restaurant Tipping – How Much and When? =-.

By: Kevin@OutOfYourRut

Kevin@OutOfYourRut — Tue, 12 Jan 2010 22:16:04 +0000

Here’s a solid vote for avoid! Yes, there are benefits that can come from cc usage, but it’s a bit like navigating a matrix, where the rules can change at any time.

My hat’s off to anyone who’s profited from cc’s, but from a life’s simplification standpoint (among others!), I choose to abstain.
.-= Kevin@OutOfYourRut´s last blog ..Restaurant Tipping – How Much and When? =-.

By: Jason

Jason — Tue, 12 Jan 2010 21:58:58 +0000

Joe – thanks for sharing your story. It sounds like you are really working the system for your favor and saving for college on top of it! That’s awesome.

By: Jason

Jason — Tue, 12 Jan 2010 21:57:24 +0000

Thanks Money Funk – that’s great that you recognize your limits and are able to stick with that. Kudos! Self awareness is a key in determining what’s right for you.

By: WellHeeled

WellHeeled — Tue, 12 Jan 2010 20:16:07 +0000

I love my credit card. I agree – it depends on the person. If you know a credit card will harm your financial health, then don’t use it. If a credit card no longer makes sense for my situation, I’ll stop using it. Credit is just a tool – not good, not evil.