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« 12 New 'Necessities' That Drain Your Cash | Main | Seven Landscaping Tips that Offer the Best Return for Your Dollar »

June 19, 2008

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I am with you, I a huge fan of cash back credit cards. I love my Amex Blue. The 5% back from grocery stores is great, especially when they sell gift cards for other places that I am going to go anyways.

I think it is all a matter of discipline. Giving up all credit cards when you are used to a lifestyle with instant gratification is hard but to keep a money making card, use it responsibly and pay it off each month is harder. Plus, when travelling, I don't like brining cash and I don't like using my check card for if it is stolen, though the money is usually replaced in 48 hours, the problems with having 0 in the account are great, especially if you have auto bill pay.

Even though you use credit cards and I and others have disagreed with you in the comments, you have still posted information contrary to your views for education. This shows that you care about your readers.

Thank you very much.

With respect
the7thlover

I would venture to say that the "cash back" feature is a scam.
You see, with so many Americans being charged credit card fees and 21+% interest on their purchases where is the savings if you are only getting 5% cash back?
Most people carry balances and pay much more than 5% in interest rates.
A much better option in my opinion is to not use a credit card period.
When i travel i use my debit card with Visa logo. It also functions in a way as a credit card. Since the money taken directly from my bank account there is no interest or fees. For added protection i have set a limit as to how much can be taken out.
I have been living "credit card free and credit card debt free" for 4 years now and LOVE IT!
I am NEVER going back to using credit cards again.
I am 43 years old and have had credit cards since i was 24. In all those years i can remember only two times when i have needed to use a credit card in an emergency. Once was for a $50.00 tow and the other was during my divorce to buy furniture and my children beds and linens for our new home. I realized that if i had a savings account with just a few thousand in it, instead of spending all my money paying off credit card debt at 24% interest rate, i would not have had to use any credit card in the first place during my divorce. Moreover, I was late only ONCE on my payments and that was enough to push my card interest rate from 12% to 24%.
I think when people begin to wake up and realize that the whole concept of credit cards has become one giant scam they will finally walk away from them.

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