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LikeAnOceanLikeAnOcean Posts: 7,718
edited March 2010 in All Encompassing Trip
Is there any real need for a credit card?

I have one and use it, but pay it off every month, so I'm not seeing the point of it besides convenience.

Can I use a bank debit card for pretty much anything these days?, or am I missing something I might need a credit card for?
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  • Black DiamondBlack Diamond Posts: 25,107
    LikeAnOcean wrote:
    Is there any real need for a credit card?

    I have one and use it, but pay it off every month, so I'm not seeing the point of it besides convenience.

    Can I use a bank debit card for pretty much anything these days?, or am I missing something I might need a credit card for?
    Yeah I just have the Debit and and Amex. I just use Amex for the points. Pay off every month.
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  • LikeAnOceanLikeAnOcean Posts: 7,718
    Black Diamond wrote:
    LikeAnOcean wrote:
    Is there any real need for a credit card?

    I have one and use it, but pay it off every month, so I'm not seeing the point of it besides convenience.

    Can I use a bank debit card for pretty much anything these days?, or am I missing something I might need a credit card for?
    Yeah I just have the Debit and and Amex. I just use Amex for the points. Pay off every month.
    I'm reading that cancelling your credit card is bad for your credit score. I wonder how bad and I wonder if it would effect me ever getting a loan just because I choose not to use a credit card.
  • normnorm Posts: 31,146
    LikeAnOcean wrote:
    Black Diamond wrote:
    LikeAnOcean wrote:
    Is there any real need for a credit card?

    I have one and use it, but pay it off every month, so I'm not seeing the point of it besides convenience.

    Can I use a bank debit card for pretty much anything these days?, or am I missing something I might need a credit card for?
    Yeah I just have the Debit and and Amex. I just use Amex for the points. Pay off every month.
    I'm reading that cancelling your credit card is bad for your credit score. I wonder how bad and I wonder if it would effect me ever getting a loan just because I choose not to use a credit card.


    keep it but don't use it...you might need it for an emergency that your debit card couldn't handle
  • Who PrincessWho Princess out here in the fields Posts: 7,305
    LikeAnOcean wrote:
    Is there any real need for a credit card?

    I have one and use it, but pay it off every month, so I'm not seeing the point of it besides convenience.

    Can I use a bank debit card for pretty much anything these days?, or am I missing something I might need a credit card for?
    Are you thinking of buying a house someday? Getting a car loan? If you ever apply for a mortgage in particular they'll be checking your credit history. That was the main reason we first got a credit card back in the day, so we could build up our credit. We've always paid it off every month and when we bought the house we live in now the mortgage company told us we had "perfect" credit. 8-)
    "The stars are all connected to the brain."
  • LikeAnOceanLikeAnOcean Posts: 7,718
    norm wrote:

    keep it but don't use it...you might need it for an emergency that your debit card couldn't handle
    Or maybe I'll just use it for gas to keep it from becoming inactive.
  • onawizardonawhaleonawizardonawhale Posts: 34
    I pretty much only use my debit and Amex cards, too. But I keep two other credit cards open, use them once in a while, and pay them off right away. closing them would bring my credit score down. Creditors look at the amount of open credit that you have. The bigger cushion you have, generally, the higher your score will be. Closing or maxing out a card will lower your score.
  • LikeAnOceanLikeAnOcean Posts: 7,718
    whoprincess wrote:
    LikeAnOcean wrote:
    Is there any real need for a credit card?

    I have one and use it, but pay it off every month, so I'm not seeing the point of it besides convenience.

    Can I use a bank debit card for pretty much anything these days?, or am I missing something I might need a credit card for?
    Are you thinking of buying a house someday? Getting a car loan? If you ever apply for a mortgage in particular they'll be checking your credit history. That was the main reason we first got a credit card back in the day, so we could build up our credit. We've always paid it off every month and when we bought the house we live in now the mortgage company told us we had "perfect" credit. 8-)
    My credit is awesome. Thats my fear, that it will get bad if I don't use the card.. like I mentioned, I"ll probably just use it for gas and set up automatic billing from my savings.
  • Who PrincessWho Princess out here in the fields Posts: 7,305
    LikeAnOcean wrote:
    My credit is awesome. Thats my fear, that it will get bad if I don't use the card.. like I mentioned, I"ll probably just use it for gas and set up automatic billing from my savings.
    Then keep the card and use occasionally, paying it off the way you have been. Keep that awesome credit rating. I've learned that having good credit really has its benefits. It gives you the flexibility to use your credit if a real emergency comes along. :thumbup:
    "The stars are all connected to the brain."
  • polaris_xpolaris_x Posts: 13,559
    i have a rewards credit card that earns me travel dollars ... credit cards are good also for giving you insurance on your purchases ... also, if you want to buy a large ticket item - it saves you from having to bring cash everywhere ... if you pay your credit card on time every month ... it can only be a good thing unless having someone know your purchase habits is a bad thing for you ...
  • Jeff MurrayJeff Murray Posts: 1,259
    LikeAnOcean wrote:
    norm wrote:

    keep it but don't use it...you might need it for an emergency that your debit card couldn't handle
    Or maybe I'll just use it for gas to keep it from becoming inactive.

    Definitely! If anything the credit cards show you are credit worthy. Be sure to use the card monthly for something though, credit card companies are terminating cards that are inactive for a period of time. And as others have said they offer protection for big ticket items you may purchase. Plus if you do have a dispute with a merchant the credit card companies usually refund your money right away, unlike a bank debit card.

    So there are positives for both. Stay out of trouble and don't pay any interest by using a debit card, but keep an active credit card to prove that you are credit worthy.
    If there were no Angels would there be no sin?
  • dcfaithfuldcfaithful Posts: 13,076
    I got a secured credit card when I was 18 with a limit of $300. It was my own money that I basically gave the bank, and they then gave me a card. No interest rates.

    I did so well with it, after a year they upped it to $600.

    I did so well with that, they then offered me the option of making it unsecured with a limit of $3000. I've done well with that...until I maxed it out last summer with PJ in Chicago and giong to ATL to see the in-laws for Thanksgiving.

    Meh, I make my monthly payments and then some. It's almost paid off. I figure, if you're responsible, and use your credit card for things that you can't put together cash for immediately but know you'll be able to pay off, then use a credit card. However, I would not recommend it for everday expenses (going out to lunch, gas, buying cd's and shit).

    That being said, I only have one credit card, and that's all I'll ever have. It's done good for my credit score. I'm only 21 and have been told by bankers that my credit score is "excellent" for my age.

    Like I said, if you're responsible with money...what's the harm in having one and using it once in a while for big purchases that you know you'll be able to pay off in a reasonable amount of time.
    7/2/06 - Denver, CO
    6/12/08 - Tampa, FL
    8/23/09 - Chicago, IL
    9/28/09 - Salt Lake City, UT (11 years too long!!!)
    9/03/11 - East Troy, WI - PJ20 - Night 1
    9/04/11 - East Troy, WI - PJ20 - Night 2
  • mookeywrenchmookeywrench Posts: 5,940
    dcfaithful wrote:
    Like I said, if you're responsible with money...what's the harm in having one and using it once in a while for big purchases that you know you'll be able to pay off in a reasonable amount of time.

    Correct....credit cards should be used as interest free 21 day loans. If you can't pay it off in 21 days don't purchase it with a credit card. Also internet purchases should be completed with credit cards. If there's a glitch and you're charged for $1000 instead of $100, or if you hit the "submit" button 3 times instead of once and you're charged 3 times; that money is gone until the company fixes the error if used with a debit card.
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  • TravisTheSkyTravisTheSky Posts: 615
    I've never had a credit card.

    I have never been in debt.
    "May you live in interesting times."
  • JOEJOEJOEJOEJOEJOE Posts: 10,651
    As long as you are disciplined in your spending, credit cards allow you 3 weeks to pay your charges, free trips with the miles you rack up, and very importantly, a source of funds in the case of an emergency.
  • gregkitefangregkitefan Posts: 1,116
    I'm been out of work for a year.
    My credit card balance is getting large.
    Kind of need it to buy food and things.
    Unemployment barely covers my mortgage.
    My credit cards are kind of important.
    38
  • South of SeattleSouth of Seattle West Seattle Posts: 10,724
    I mainly use mine for large purchases that I don't have the money for right away or for internet purchases, car repairs and the like.
    NERDS!
  • Sian-of-the-deadSian-of-the-dead Posts: 8,963
    We have a credit card to pay for things like surprise PJ tour announcements near Christmas...

    We paid for the show tickets when they went on sale and then paid it off in the new year. If we didn't have a credit card we wouldn't have been able to go on tour.

    Having a credit card also allows us to build a good credit rating... We'll need one of those when we decide to buy our own house for example...
    Been to this many PJ shows: Reading 2006 London 2007 Manchester & London 2009 Dublin, Belfast, London, Nijmegen & Berlin 2010 Manchester 1 & Manchester 2 2012...

    ... and I still think Drive-By Truckers are better.
  • redrockredrock Posts: 18,341
    I pay for almost everything by credit card - I rarely use cash. I also pay off every month.

    If you are responsible and pay off every month, a credit card it great - 'spend' your money, but it's still in the bank earning interest. Depending on when purchases are made, credit cards can give you up to 6 weeks interest free credit. And as others said, needed for credit rating and also a 'just in case' for an emergency (and no, funding your PJ tix and following them around Europe and the US when you can't afford it is NOT an emergency! :mrgreen: )
  • Sian-of-the-deadSian-of-the-dead Posts: 8,963
    redrock wrote:
    (and no, funding your PJ tix and following them around Europe and the US when you can't afford it is NOT an emergency! :mrgreen: )

    I'm not so sure about that... :think:

    ;)
    Been to this many PJ shows: Reading 2006 London 2007 Manchester & London 2009 Dublin, Belfast, London, Nijmegen & Berlin 2010 Manchester 1 & Manchester 2 2012...

    ... and I still think Drive-By Truckers are better.
  • redrockredrock Posts: 18,341
    Sian-of-the-dead wrote:
    redrock wrote:
    (and no, funding your PJ tix and following them around Europe and the US when you can't afford it is NOT an emergency! :mrgreen: )

    I'm not so sure about that... :think:

    ;)

    Well.. it definitely is not an emergency but maybe you can say it's a medical expense - dealing with obsessive behaviour!
  • Sian-of-the-deadSian-of-the-dead Posts: 8,963
    redrock wrote:
    Sian-of-the-dead wrote:
    redrock wrote:
    (and no, funding your PJ tix and following them around Europe and the US when you can't afford it is NOT an emergency! :mrgreen: )

    I'm not so sure about that... :think:

    ;)

    Well.. it definitely is not an emergency but maybe you can say it's a medical expense - dealing with obsessive behaviour!

    :lol:

    I'm gonna try that approah... :twisted:

    *scurries off to text Dave*
    Been to this many PJ shows: Reading 2006 London 2007 Manchester & London 2009 Dublin, Belfast, London, Nijmegen & Berlin 2010 Manchester 1 & Manchester 2 2012...

    ... and I still think Drive-By Truckers are better.
  • haffajappahaffajappa British Columbia Posts: 5,955
    LikeAnOcean wrote:
    Black Diamond wrote:
    LikeAnOcean wrote:
    Is there any real need for a credit card?

    I have one and use it, but pay it off every month, so I'm not seeing the point of it besides convenience.

    Can I use a bank debit card for pretty much anything these days?, or am I missing something I might need a credit card for?
    Yeah I just have the Debit and and Amex. I just use Amex for the points. Pay off every month.
    I'm reading that cancelling your credit card is bad for your credit score. I wonder how bad and I wonder if it would effect me ever getting a loan just because I choose not to use a credit card.
    cancelling and opening new cards is really bad for your score. everytime you do a credit check it takes a hit off your credit.

    i used to work at sears - who's main interest nowadays is basically selling their credit cards - and people used to cancel their card and get new ones a little while later just to get the 10 dollar discount on their purchase.... they were oblivious that they were ruining their credit.
    live pearl jam is best pearl jam
  • PJGARDENPJGARDEN Posts: 1,484
    I use my credit cards almost everyday but I pay them off every month. I use them for everyday purchases to get the points. As a result, my little Pearl Jam trip this summer (flight, rental car, hotel etc...) will be paid for solely with the points I've accumulated. I think as long as you are responsible with them, they can be a great thing.
  • RygarRygar Posts: 8,689
    redrock wrote:
    I pay for almost everything by credit card - I rarely use cash. I also pay off every month.
    Ditto.
  • 8181 Needing a ride to Forest Hills and a ounce of weed. Please inquire within. Thanks. Or not. Posts: 58,276
    i've not had a cc in over 10 years. well, i do have two store cc. only used the one once, and the other one gets used a few times per year, but gets paid off right away

    generally speaking, if i don't have cash, i don't buy it.
    81 is now off the air

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  • Heatherj43Heatherj43 Posts: 1,254
    I use my debit card. Credit cards are a rip off. Even bankruptcy judges hate them.
    Save room for dessert!
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