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Credit card tips - Mark's Journal
mhaithaca
mhaithaca
Credit card tips
Useful article with ten things you might not know about credit cards.

http://www.bspcn.com/2008/07/11/10-things-you-might-not-know-about-your-credit-card/
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Comments
rjb5 From: rjb5 Date: July 13th, 2008 12:57 am (UTC) (Link)
I'd seen many of those credit card details elsewhere over time, but I gotta say, I'm loving that "Best Article Every Day" website. Hours of interest surfing to be done there. Every page I look at has at least 2 or 3 other links I'm interested in...
Dangerous! (at least to my plans to clean my house...)
Thanks!


kaitl From: kaitl Date: July 13th, 2008 02:27 am (UTC) (Link)
Very interesting-- I forwarded it to my parents/sister
From: ddmd Date: July 13th, 2008 03:06 am (UTC) (Link)

Some even MORE important things to know about your credit card [IMO]

1. Pay it off fully at the end of every month.
2. If you can't pay it off fully each month, don't charge.
3. if you can't afford the charges you'll incur, don't use it.
4. If you don't use it, close the account.

My goal:
Be rid of the need for credit cards by the time I retire (I can retire with pension in 15 years 10 months).

My anticipation:
I'll be rid of the need for credit cards (i.e. should be able to afford to pay cash for everything) within 5 years.

Doesn't mean I'll get rid of my CC's, but I'm down to just three (and one is an officer club card that I have to have to be a club member, but that's changing this summer, so I'll close that account as soon as I can).

I think we as a human race should get back to paying for things immediately whenever possible. It will hurt initially, but I think in the long run we'll all be happer and more financially stable.

My 2 strips.
From: (Anonymous) Date: July 13th, 2008 11:42 am (UTC) (Link)

Re: Some even MORE important things to know about your credit card [IMO]

Good that Chase doesn't make you get a credit card anymore. The 3% foreign transaction fee is utterly lame, and the only reason I have any cards from them is that I got a metric crapload of bonus miles from United for signing up.

(And why do I keep wanting to portion-mark my posts on the outside LiveJournal instance? Meh.)
yamazakikun From: yamazakikun Date: July 13th, 2008 11:43 am (UTC) (Link)

Re: Some even MORE important things to know about your credit card [IMO]

And that shouldn't have actually been anonymous.
zikzak5 From: zikzak5 Date: July 13th, 2008 11:28 am (UTC) (Link)
Yeah, I absolutely hate it when a clerk asks for my ID. The 16 year-old pimply high school check out dude is NOT an expert at identification fraud. The reality is that checking ID does NOT protect me, the cardholder, from fraud because the credit card company has already agreed to eat all fraud above $50 in the cardholder agreement. It certainly does not protect the merchant, who will get paid by the credit card company, fraud or not. In fact, the act of checking exposes the merchant to MORE liability if they took on the responsibility of checking and it turned out to be a fraud. So checking ID is nothing but a violation of my privacy, and I never allow it, and report any merchant who requires it.

I absolutely agree with ddmd, you should never charge for things you can't pay for that month.... but there are other great reasons to use a card. Just this week, I blew a tire on a rental car and the CC company will pay for it because I used their card to do it.
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