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January 31, 2012


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I back into good finances, so credit cards are fine with me, even if I spend a little more than I normally would with cash (I don't really see debit as much different than credit).

I use auto-invest to shovel money into retirement and other savings and investment accounts to "make sure" I have enough going to investments to retire well and/or young. Of the rest, I generally save a little more because I think it's good to be a "saver" by nature, not just by auto-invest, and then spend no more than the rest using a basic budget.

I use credit cards over debt cards for multiple reasons, especially the security and extended warranties, but also for the rewards.

Good stuff. I completely agree with both of your points.

I've never used a debit card in my life, and have never understood why anyone would. More recently I've realized that for some people, generally due to poor financial choices, credit cards are not a good or viable option. But for a responsible user of credit, there's no reason to use a debit card.

Credit cards for the win. We have all of our bills setup to use the same cashback credit card. Every January, we get a nice bonus, just for paying our bills.

If you are responsible with your money and pay off your balance every month, then a rewards credit card is the way to go!

Debit card is only used at ATM to pull money out or make deposits. Other than that it is not even in my wallet becaue you loose the card someone can charge and empty your account.

My son who is in college uses his debit card when he needs to buy books. He also uses it rarely.

I only use credit cards that have rewards because I pay off all the time.

I never use a debit card. Debit card fraud means that YOUR money was compromised, so the bank takes its sweet time figuring things out. With credit cards, it is THEIR money that was compromised...much more incentive to get things ironed out FAST!

Growing up, I never really learned much about credit cards and how they worked. The only time I really saw anything about them was on debt commercials where people got in debt way over their heads.

Naturally, I didn't want to get into debt like that, so I avoided credit cards. Just in the past few years, I have been educated on credit cards by some knowledgeable friends, and have put them to good use, since I pay off my entire balance each month.

I'm happy to say I never use my debit card anymore.

I use my credit card as if it was my debit card. I use the Chase Freedom card exclusively. Here's my strategy. I don't spend money I don't have. If I don't have $6 on my checking account to pay cash for a lunch then I sure as hell don't pay for the lunch with credit card. Now let's say I do have that money. I gladly pay for lunch using $6. Just as soon as I have the receipt on my hand, I quickly log into my checking account (thanks to smartphone) and transfer $6 from checking to credit card. I never have a balance on my credit card. I use it as if it is my debit card. I had this card for about 5 months now. I'm averaging about $100 in reward every month. Not bad. Who's going to give you $100 everything for using your own money. In essence, I'm being paid to use my own money.

I'm not braggin' here but hope that this inspires you someone.

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