Comments on: The Good, the Bad and the Ugly of Credit Cards, Part 1: The Good http://www.consumerismcommentary.com/the-good-the-bad-and-the-ugly-of-credit-cards-part-1-the-good/ A premier personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Thu, 24 May 2012 19:20:57 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: doing my best--Help! http://www.consumerismcommentary.com/the-good-the-bad-and-the-ugly-of-credit-cards-part-1-the-good/comment-page-1/#comment-192482 doing my best--Help! Wed, 08 Apr 2009 13:46:55 +0000 http://www.consumerismcommentary.com/2006/12/19/the-good-the-bad-and-the-ugly-of-credit-cards-part-1-the-good/#comment-192482 I have had a c.c. forever and always pd it off in full. Lately, I am carrying a small balance...$600...or so until my next check, but before my next c.c. statement. Boy, was I surprised to learn that even if I pay it off before the next statement, any and all purchases after that are NOT given a grace period. So, it is impossible to know from week to week how much to send in to pay it off. It keeps getting interest applied. Is there a c.c. out there that offers a grace period on new purchases even if there is an unpaid balance (small)? Thanks! I have had a c.c. forever and always pd it off in full. Lately, I am carrying a small balance…$600…or so until my next check, but before my next c.c. statement. Boy, was I surprised to learn that even if I pay it off before the next statement, any and all purchases after that are NOT given a grace period. So, it is impossible to know from week to week how much to send in to pay it off. It keeps getting interest applied.
Is there a c.c. out there that offers a grace period on new purchases even if there is an unpaid balance (small)?
Thanks!

]]> By: Flexo http://www.consumerismcommentary.com/the-good-the-bad-and-the-ugly-of-credit-cards-part-1-the-good/comment-page-1/#comment-78322 Flexo Tue, 16 Jan 2007 14:18:10 +0000 http://www.consumerismcommentary.com/2006/12/19/the-good-the-bad-and-the-ugly-of-credit-cards-part-1-the-good/#comment-78322 Nice, I didn't even bash Dave Ramsey in <i>this</i> post. His advice does go beyond Personal Finance 101 by instilling beliefs which are financially damaging to would-be "Type Bs," but most Type Bs wouldn't be listening to him anyway. Nice, I didn’t even bash Dave Ramsey in this post. His advice does go beyond Personal Finance 101 by instilling beliefs which are financially damaging to would-be “Type Bs,” but most Type Bs wouldn’t be listening to him anyway.

]]> By: andy http://www.consumerismcommentary.com/the-good-the-bad-and-the-ugly-of-credit-cards-part-1-the-good/comment-page-1/#comment-78150 andy Tue, 16 Jan 2007 12:13:40 +0000 http://www.consumerismcommentary.com/2006/12/19/the-good-the-bad-and-the-ugly-of-credit-cards-part-1-the-good/#comment-78150 Enough with the Dave Ramsey bashing - his advice is personal finance 101, somewhere people should start and can develop the discipline to not overspend. Too many folks out there trying to be "sophisticated" and all too often end up deep in debt trying to maximize a 1-5% discount in credit card points. I'm not saying that there aren't people disciplined enough that can take advantage of those little discounts, but it's because those people can budget their money that they can pay those credit card balances off every month. I'm making an educated guess that are far more people who can't manage their money that well and end up in trouble as a result. Does he sell his products on the air? Yes, but he'll give you those exact same products (the content of his books) for free on his radio show. I don't see anything wrong with advocating that people save a basic emergency fund, make a basic budget, pay off their debts and don't borrow any more money, then start saving - Dave's critics seems to miss these parts of his advice. Given his "kick in the rear" delivery style when people need it, I can see how some are turned off from his message. If that happens - turn it off, which is what I'm doing. Clicks on "Unsubscribe".......... Enough with the Dave Ramsey bashing – his advice is personal finance 101, somewhere people should start and can develop the discipline to not overspend. Too many folks out there trying to be “sophisticated” and all too often end up deep in debt trying to maximize a 1-5% discount in credit card points. I’m not saying that there aren’t people disciplined enough that can take advantage of those little discounts, but it’s because those people can budget their money that they can pay those credit card balances off every month. I’m making an educated guess that are far more people who can’t manage their money that well and end up in trouble as a result. Does he sell his products on the air? Yes, but he’ll give you those exact same products (the content of his books) for free on his radio show. I don’t see anything wrong with advocating that people save a basic emergency fund, make a basic budget, pay off their debts and don’t borrow any more money, then start saving – Dave’s critics seems to miss these parts of his advice. Given his “kick in the rear” delivery style when people need it, I can see how some are turned off from his message. If that happens – turn it off, which is what I’m doing. Clicks on “Unsubscribe”……….

]]> By: NCN http://www.consumerismcommentary.com/the-good-the-bad-and-the-ugly-of-credit-cards-part-1-the-good/comment-page-1/#comment-74567 NCN Thu, 21 Dec 2006 20:11:23 +0000 http://www.consumerismcommentary.com/2006/12/19/the-good-the-bad-and-the-ugly-of-credit-cards-part-1-the-good/#comment-74567 Mel, the merchant has to pay a 2 to 3 percent fee for every credit transaction... and the fee gets passed on to all consumers... so yes "the cost gets spread around to everybody"... and this is a good thing? what? did i lose my mind? as for the economic benefits of credit... keep in mind that, at some point, someone is going to have to PAY for all of this stuff... focusing on the macro is just fine, but not to the detriment of the micro... in other words, the goods i purchase with cash have a credit card fee built into them that would not exist w/ out credit cards... it's just that simple.. merchants pass the fee charges to all of us... Mel, the merchant has to pay a 2 to 3 percent fee for every credit transaction… and the fee gets passed on to all consumers… so yes “the cost gets spread around to everybody”… and this is a good thing? what? did i lose my mind? as for the economic benefits of credit… keep in mind that, at some point, someone is going to have to PAY for all of this stuff… focusing on the macro is just fine, but not to the detriment of the micro…

in other words, the goods i purchase with cash have a credit card fee built into them that would not exist w/ out credit cards… it’s just that simple.. merchants pass the fee charges to all of us…

]]> By: Mel http://www.consumerismcommentary.com/the-good-the-bad-and-the-ugly-of-credit-cards-part-1-the-good/comment-page-1/#comment-74564 Mel Thu, 21 Dec 2006 19:39:50 +0000 http://www.consumerismcommentary.com/2006/12/19/the-good-the-bad-and-the-ugly-of-credit-cards-part-1-the-good/#comment-74564 Uh I don't know about you, but I'm not charged 2-3 percent more when I use a credit card as opposed to cash...the costs get spread around to everybody. But you have to look at it this way, if there was no credit people wouldn't buy nearly as much, goods would be produced less and therefore end up costing more (decrease in economies of scale) Our enormous use of credit is what makes our goods so cheap to begin with. Uh I don’t know about you, but I’m not charged 2-3 percent more when I use a credit card as opposed to cash…the costs get spread around to everybody. But you have to look at it this way, if there was no credit people wouldn’t buy nearly as much, goods would be produced less and therefore end up costing more (decrease in economies of scale) Our enormous use of credit is what makes our goods so cheap to begin with.

]]> By: NCN http://www.consumerismcommentary.com/the-good-the-bad-and-the-ugly-of-credit-cards-part-1-the-good/comment-page-1/#comment-74477 NCN Thu, 21 Dec 2006 03:51:52 +0000 http://www.consumerismcommentary.com/2006/12/19/the-good-the-bad-and-the-ugly-of-credit-cards-part-1-the-good/#comment-74477 Ahh... The Credit Card... I haven't used one of the little jokers in over 2 years, and we are just fine. (I use a debit card connected to a secondary checking account for my online purchases...) BTW, just one thought... As for the inherent evil of the credit card, check this: EVERY purchase made with a credit card costs the merchant at least 2 to 3 percent... and who ends up paying for that 2 or 3 percent merchants fee? Why, Joe Consumer, that's who. And, with FIFTY percent of all transactions going through one of the cc companies, that means that there is a 2 to 3 percent INCREASE in the price of fifty percent of the transactions in America... So, in my opinion, they may not be "evil"... but they certainly aren't "righteous"... Ahh… The Credit Card…

I haven’t used one of the little jokers in over 2 years, and we are just fine. (I use a debit card connected to a secondary checking account for my online purchases…)

BTW, just one thought…

As for the inherent evil of the credit card, check this: EVERY purchase made with a credit card costs the merchant at least 2 to 3 percent… and who ends up paying for that 2 or 3 percent merchants fee? Why, Joe Consumer, that’s who. And, with FIFTY percent of all transactions going through one of the cc companies, that means that there is a 2 to 3 percent INCREASE in the price of fifty percent of the transactions in America…

So, in my opinion, they may not be “evil”… but they certainly aren’t “righteous”…

]]> By: Golbguru http://www.consumerismcommentary.com/the-good-the-bad-and-the-ugly-of-credit-cards-part-1-the-good/comment-page-1/#comment-74427 Golbguru Wed, 20 Dec 2006 19:46:42 +0000 http://www.consumerismcommentary.com/2006/12/19/the-good-the-bad-and-the-ugly-of-credit-cards-part-1-the-good/#comment-74427 It's not rocket science to understand that clearing your bills off every month is the right way to handle credit cards...and yet millions will rack up incredible balances and later blame the credit card companies for being evil. It's not like people don't know about finance charges and late fees and stuff...it's just some sort of a complacency. It’s not rocket science to understand that clearing your bills off every month is the right way to handle credit cards…and yet millions will rack up incredible balances and later blame the credit card companies for being evil.

It’s not like people don’t know about finance charges and late fees and stuff…it’s just some sort of a complacency.

]]> By: moneysmartlife http://www.consumerismcommentary.com/the-good-the-bad-and-the-ugly-of-credit-cards-part-1-the-good/comment-page-1/#comment-74369 moneysmartlife Wed, 20 Dec 2006 05:50:24 +0000 http://www.consumerismcommentary.com/2006/12/19/the-good-the-bad-and-the-ugly-of-credit-cards-part-1-the-good/#comment-74369 Well if it was in your subconscious as a title from Money Smart Life then I'm honored to have you as a reader! Great topic, no reason to throw the baby out with the bath water. Well if it was in your subconscious as a title from Money Smart Life then I’m honored to have you as a reader!

Great topic, no reason to throw the baby out with the bath water.

]]> By: Flexo http://www.consumerismcommentary.com/the-good-the-bad-and-the-ugly-of-credit-cards-part-1-the-good/comment-page-1/#comment-74366 Flexo Wed, 20 Dec 2006 05:37:23 +0000 http://www.consumerismcommentary.com/2006/12/19/the-good-the-bad-and-the-ugly-of-credit-cards-part-1-the-good/#comment-74366 Huh weird. I wonder if your post title was in my subconscious when I came up with this series. I hope you're not offended... I didn't consciously steal your title, I promise. :-) Huh weird. I wonder if your post title was in my subconscious when I came up with this series. I hope you’re not offended… I didn’t consciously steal your title, I promise. :-)

]]> By: moneysmartlife http://www.consumerismcommentary.com/the-good-the-bad-and-the-ugly-of-credit-cards-part-1-the-good/comment-page-1/#comment-74365 moneysmartlife Wed, 20 Dec 2006 05:29:08 +0000 http://www.consumerismcommentary.com/2006/12/19/the-good-the-bad-and-the-ugly-of-credit-cards-part-1-the-good/#comment-74365 I see we both think about things that are Good, Bad, and Ugly. Fortunately for everyone else, you think in a broader scope than me :) http://www.moneysmartlife.com/2006/12/15/the-good-bad-and-ugly-of-credit-card-alerts I see we both think about things that are Good, Bad, and Ugly. Fortunately for everyone else, you think in a broader scope than me :)

http://www.moneysmartlife.com/2006/12/15/the-good-bad-and-ugly-of-credit-card-alerts

]]> By: Bill Hazelton http://www.consumerismcommentary.com/the-good-the-bad-and-the-ugly-of-credit-cards-part-1-the-good/comment-page-1/#comment-74362 Bill Hazelton Wed, 20 Dec 2006 04:26:30 +0000 http://www.consumerismcommentary.com/2006/12/19/the-good-the-bad-and-the-ugly-of-credit-cards-part-1-the-good/#comment-74362 I recently posted on our blog about this subject. Getting the most out of credit cards as a financial vehicle depends, above all, on discipline, plain and simple. If you pay off your card balance every month, avoid finance charges and fees like the plague, you can gain substantially from the benefits of credit cards. I recently posted on our blog about this subject. Getting the most out of credit cards as a financial vehicle depends, above all, on discipline, plain and simple. If you pay off your card balance every month, avoid finance charges and fees like the plague, you can gain substantially from the benefits of credit cards.

]]> By: dimes http://www.consumerismcommentary.com/the-good-the-bad-and-the-ugly-of-credit-cards-part-1-the-good/comment-page-1/#comment-74358 dimes Wed, 20 Dec 2006 03:56:23 +0000 http://www.consumerismcommentary.com/2006/12/19/the-good-the-bad-and-the-ugly-of-credit-cards-part-1-the-good/#comment-74358 This is a subject that seems to be on a lot of people's minds this week. This is a subject that seems to be on a lot of people’s minds this week.

]]> By: Binary Dollar http://www.consumerismcommentary.com/the-good-the-bad-and-the-ugly-of-credit-cards-part-1-the-good/comment-page-1/#comment-74328 Binary Dollar Tue, 19 Dec 2006 21:17:20 +0000 http://www.consumerismcommentary.com/2006/12/19/the-good-the-bad-and-the-ugly-of-credit-cards-part-1-the-good/#comment-74328 Thanks for the full feeds. It's the best part of this site... Thanks for the full feeds. It’s the best part of this site…

]]>