Comments on: Credit Cards as a Money Tool http://www.lazymanandmoney.com/credit-cards-as-a-money-tool/ Saving, Earning, and Investing Money Sat, 21 Nov 2009 00:22:17 -0800 http://wordpress.org/?v=2.8.5 hourly 1 By: budgets are sexy http://www.lazymanandmoney.com/credit-cards-as-a-money-tool/comment-page-1/#comment-92493 budgets are sexy Mon, 14 Jul 2008 18:25:03 +0000 http://www.lazymanandmoney.com/credit-cards-as-a-money-tool/#comment-92493 While it's true many people are psycho when it comes to credit cards, I've been fine w/ using it as a "Money tool" I put every thing i possibly can on my card (for the tracking and simplicity part of it all), and then pay it off in full each month. I'm also *possibly* buying a car and slapping it on the credit card! haha....it's only $3,400 and my rate at 5% is lower than an actual loan. it'll be paid off within 5-6 months, but it goes to show you can put a LOT on those bad boys ;) While it’s true many people are psycho when it comes to credit cards, I’ve been fine w/ using it as a “Money tool”

I put every thing i possibly can on my card (for the tracking and simplicity part of it all), and then pay it off in full each month.

I’m also *possibly* buying a car and slapping it on the credit card! haha….it’s only $3,400 and my rate at 5% is lower than an actual loan. it’ll be paid off within 5-6 months, but it goes to show you can put a LOT on those bad boys ;)

]]> By: SingleGuyMoney http://www.lazymanandmoney.com/credit-cards-as-a-money-tool/comment-page-1/#comment-92319 SingleGuyMoney Sun, 13 Jul 2008 15:00:45 +0000 http://www.lazymanandmoney.com/credit-cards-as-a-money-tool/#comment-92319 I am currently using my Chase card for all of my everyday purchases due to a current promotion they have going. All I have to do is use my card everyday during the month of July and I get a $5 statement credit up to $155. I am only using the card for purchases I'd planned to make anyway and I have the money set aside to pay the bill in full next month. I am currently using my Chase card for all of my everyday purchases due to a current promotion they have going. All I have to do is use my card everyday during the month of July and I get a $5 statement credit up to $155. I am only using the card for purchases I’d planned to make anyway and I have the money set aside to pay the bill in full next month.

]]> By: Rob http://www.lazymanandmoney.com/credit-cards-as-a-money-tool/comment-page-1/#comment-92174 Rob Sat, 12 Jul 2008 00:32:55 +0000 http://www.lazymanandmoney.com/credit-cards-as-a-money-tool/#comment-92174 Lazyman: Great article. Unfortunately, most of the credit card holders are not even aware of their interest rate, or how it works. Revolving credit is a very negative spiral that can drain anyone's pocket. Many folks learn the wrong way: they accumulate so much debt that end up having to pay it back for a long time or file for bankruptcy. About 40% of the loans issued through our P2P lending platform (Lending Club) are for debt consolidation and repayment. Getting a fully amortized, fixed payment, no prepayment penalty is the best way to get rid of current debt... never get payday loans. Personally, I do not spend more than I can pay back (money is in the bank and the expense has been budgeted for). Lazyman:

Great article.

Unfortunately, most of the credit card holders are not even aware of their interest rate, or how it works. Revolving credit is a very negative spiral that can drain anyone’s pocket.

Many folks learn the wrong way: they accumulate so much debt that end up having to pay it back for a long time or file for bankruptcy.

About 40% of the loans issued through our P2P lending platform (Lending Club) are for debt consolidation and repayment. Getting a fully amortized, fixed payment, no prepayment penalty is the best way to get rid of current debt… never get payday loans.

Personally, I do not spend more than I can pay back (money is in the bank and the expense has been budgeted for).

]]> By: KingTut57 http://www.lazymanandmoney.com/credit-cards-as-a-money-tool/comment-page-1/#comment-92147 KingTut57 Fri, 11 Jul 2008 19:23:05 +0000 http://www.lazymanandmoney.com/credit-cards-as-a-money-tool/#comment-92147 Once again. This is another issue within money that most likely has not been taught to many. For the most part people know credit card debt (i'm not talking about using them and paying off but actually carrying debt) is a bad thing. People just don't really know the true cost of making minimum payments or putting down payments for cars on a credit card. I see it all the time. Once again. This is another issue within money that most likely has not been taught to many. For the most part people know credit card debt (i’m not talking about using them and paying off but actually carrying debt) is a bad thing. People just don’t really know the true cost of making minimum payments or putting down payments for cars on a credit card. I see it all the time.

]]> By: Joe Bob http://www.lazymanandmoney.com/credit-cards-as-a-money-tool/comment-page-1/#comment-92141 Joe Bob Fri, 11 Jul 2008 18:21:24 +0000 http://www.lazymanandmoney.com/credit-cards-as-a-money-tool/#comment-92141 If you know up front to budget for the expenses charged on a credit card and then pay it off each month, they can be beneficial. many people can't do that though. If you know up front to budget for the expenses charged on a credit card and then pay it off each month, they can be beneficial. many people can’t do that though.

]]> By: Solomon http://www.lazymanandmoney.com/credit-cards-as-a-money-tool/comment-page-1/#comment-92140 Solomon Fri, 11 Jul 2008 18:09:22 +0000 http://www.lazymanandmoney.com/credit-cards-as-a-money-tool/#comment-92140 I never spend money on my credit card that I don't already have in the bank. And I haven't paid anything in interest for about 2 years now. I never spend money on my credit card that I don’t already have in the bank. And I haven’t paid anything in interest for about 2 years now.

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