Credit Cards

Yes but it would also allow you to wean yourself off of depending on a credit card. She would be free to cut it up then.

 

I use american express for just about everything. You might as well earn points for everything you spend. With their premium plan there are no blackouts and no restrictions plus they have the best protection. You just have to pay it in full every month.

If you are on a tight budget and can't control your spending then using a cc for all your purchases might be a bad idea. Who hasn't been there?

 

I'm not dependent on a credit card. I will always have a credit card to use for emergency purchases simply because its not always feasible to get to the bank. If I knew when an emergency was going to happen, then I would have been able to purchase plane tickets in advance and saved 6 or 7 hundred dollars. If I withdraw a few thousand for 'just in case emergency' I start spending it.

 

I never meant to imply you were dependent on a CC. I was just offering an idea on getting caught up on the balance you already have.

BTW, I've always kept a CC which is used only for emergencies as well.

 

Keep your emergency fund in a savings account linked to your debit card. That way you always have access to it.

I am really down on credit cards right now because I am in the process of paying off a big chunk of them and it is no fun.

 

Do you use it for your mortgage? I think I read somewhere where AMEX was going to allow some to do that but that it had a rather high upfront cost. I also use my card to pay all expenses, except my mortgage, for the rewards and always pay off each month. Credit card companies don't like customers like me but they still get the interchange fee so screw 'em.

 

Sorry, I was repling to Thelts dependent post. I included yours because I never know if I'll have to make any more emergency purchases.

I'm def going to go thru VA's link tonight and sort out which one I need to transfer my balance to.

Access = spend it. I know myself and I know if it's there or easy to get to..I'll spend it.

 

You will not spend it if it is on a credit card but you will spend it if it is in your savings?

 

Yes.

Credit card charge means: you don't have the cash...do you really,really,really need this?

Saving means: you've got the cash..go ahead..buy it.

I know its prolly weird logic but it works for me.

 

That's the way I am too. I've always paid my card off whenever I got the bill. I'm going to start getting cash back for it. Plus, my money will stay in checking longer and earn a little more interest. I'll make one big payment a month instead of a bunch of smaller ones.

At least that's my plan.