Do you Mystery Spend?

[Duke]

SOunds ideal danoff, however the majority of people who have a credit card DO run a balance, and some end up getting into unsurmountable debt. I will not be getting a creditcard any time soon, as I know what I am like, and it would get out of hand.

Well, it's good that you recognize it. But it can be managed, as long as you identify it.

With a family of 4 we move nearly all of our non-bill purchases through our credit card. This adds up to $2500-3000/month. We get the 25-day grace period on each purchase and we pay no interest because we pay the balance every month. We rack up "points" and every so often we redeem points for unrestricted-use gift cards with pre-set balance of $125 or so. We get to shop where we want with the gift cards; we're not buying overpriced-underwanted merchandise from the card company's catalog, and we get paid for the convenience of almost never needing cash.

Now, occaisionally, we get in a spot where a restaurant doesn't take cards; but then we usually just go somewhere else.

 

[FoolKiller]

Now, occaisionally, we get in a spot where a restaurant doesn't take cards; but then we usually just go somewhere else.

Wow, those still exist? Last time I did drive-thru they had a card reader for me to swipe my card. I figured the days of cash only places were long gone.