Used wisely and sparingly, credit car...

Used wisely and sparingly, credit cards do more good than harm

There are 8 comments on the South Florida Sun-Sentinel story from Jan 31, 2007, titled Used wisely and sparingly, credit cards do more good than harm. In it, South Florida Sun-Sentinel reports that:

Checking reader mail: Q: Most people shouldn't have credit cards. They allow you to spend money you don't have.

Join the discussion below, or Read more at South Florida Sun-Sentinel.

Ric

United States

#1 Jan 31, 2007
I use one credit card for every purchase possible and earn points I then use to their best advantage. Recently we spent six nights at LeMeridian in Beverly Hills for 50,000 points. At an average cost including tax the points were valued at .06 each. Had the same points been used to get us to LA they would have been valued at .01.
In addition, I always take advantage of 0% no transfer fee offers and put the funds in my savings account currently earning 5.25%, and use the same account to make monthly minimum payments and repay the balance when the promotion ends. Earnings in 2006 were in excess of $900.
Credit cards are great tools!
Detroit Dan

United States

#2 Jan 31, 2007
Ric wrote:
I use one credit card for every purchase possible and earn points I then use to their best advantage. Recently we spent six nights at LeMeridian in Beverly Hills for 50,000 points. At an average cost including tax the points were valued at .06 each. Had the same points been used to get us to LA they would have been valued at .01.
In addition, I always take advantage of 0% no transfer fee offers and put the funds in my savings account currently earning 5.25%, and use the same account to make monthly minimum payments and repay the balance when the promotion ends. Earnings in 2006 were in excess of $900.
Credit cards are great tools!
I have done some of what you said, but you take it to the next level!:) Good tips, thanks
Papa

Fort Lauderdale, FL

#3 Jan 31, 2007
Ric wrote:
I use one credit card for every purchase possible and earn points I then use to their best advantage. Recently we spent six nights at LeMeridian in Beverly Hills for 50,000 points. At an average cost including tax the points were valued at .06 each. Had the same points been used to get us to LA they would have been valued at .01.
In addition, I always take advantage of 0% no transfer fee offers and put the funds in my savings account currently earning 5.25%, and use the same account to make monthly minimum payments and repay the balance when the promotion ends. Earnings in 2006 were in excess of $900.
Credit cards are great tools!
Don't forget about the transaction fee for the cash advance. Yes, there is one. Sometimes it is 3% or $75 max. Nothing is free, my friend.
Hand up and wave

Fort Lauderdale, FL

#5 Feb 2, 2007
Vince wrote:
"To make sure you have enough money in the bank on the due date, every time you charge a purchase, record the amount in your checking account checkbook."
Dude, have you ever heard of online banking? Why would anyone record checks and credit card purchases on paper?
Yah! That's like stone age, Geico stuff.
Ron Insana C F P

AOL

#6 Feb 3, 2007
Ric wrote:
I use one credit card for every purchase possible and earn points I then use to their best advantage. Recently we spent six nights at LeMeridian in Beverly Hills for 50,000 points. At an average cost including tax the points were valued at .06 each. Had the same points been used to get us to LA they would have been valued at .01.
In addition, I always take advantage of 0% no transfer fee offers and put the funds in my savings account currently earning 5.25%, and use the same account to make monthly minimum payments and repay the balance when the promotion ends. Earnings in 2006 were in excess of $900.
Credit cards are great tools!
Just pay your bill in full every month. There are always transfer fee's. Your playing right into the credit card companies hands.
DRS

Hollywood, FL

#7 Feb 4, 2007
Yea sure they Do.......For The Rich Maybe
Bud

Newark, NJ

#8 Feb 22, 2007
Best to avoid credit cards all together. One mistake or a missed payment creates severe monetary penalties wiping out any supposed benefit. Also note that paying by check these days is no different than using a bank debit card. You don't even fill in the amount on the check or sign it. It is scanned at the register and the money deducted from your account. No float. Nor is using a check secure. Your banking information is kept forever by the processing vendor until a hacker helps themselves to it.
Oliy

London, UK

#9 Mar 26, 2014
This is the first time I had ever applied for a loan. I couldn't have asked for anything more from the staff that answered any of my questions to the application process. Once this had all been completed the money was transferred quickly into my account. I will definitely be recommending 911PDAY .COM ( http://goo.gl/EvYZBe ) too my friends and family.

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