Credit Cards
23-Feb-2005, 02:52 PM
#41
Registered User
Join Date: Aug 2002
Location: Markham, Ontario
Posts: 897
Anyone that tells you credit cards are bad likely has financial problems due to poor spending habits. I am totally in control of my finances when it comes to spending. I don't buy things for the hell of it or on impulse. I've had a card for over 10 years, and I have paid them off in full every month on all 3 cards.
With that being said, credit cards are perfect for me for the following reasons:
1. No need to carry cash.
2. Free borrowing of money for 15-30 days.
3. Additional perks such as extended warranties, theft coverage, etc.
4. Collect points. I have a no-fee Amex and collect Air Miles. I am slowly upgrading my hockey equipment every few months by getting Sport Chek gift certificates through my Air Miles.
Anyways, credit cards are bad IF and only IF you have poor spending habits. Period. If you have the financial capacity to pay them off in full each month, they are fantastic.
With that being said, credit cards are perfect for me for the following reasons:
1. No need to carry cash.
2. Free borrowing of money for 15-30 days.
3. Additional perks such as extended warranties, theft coverage, etc.
4. Collect points. I have a no-fee Amex and collect Air Miles. I am slowly upgrading my hockey equipment every few months by getting Sport Chek gift certificates through my Air Miles.
Anyways, credit cards are bad IF and only IF you have poor spending habits. Period. If you have the financial capacity to pay them off in full each month, they are fantastic.
23-Feb-2005, 03:16 PM
#43
Registered User
Thread Starter
Join Date: Mar 2004
Posts: 7,745
Originally posted by tux228
hey Kieran, this is a small world cuz i think i know your dad
anyways, too many credit cards is a bad idea. having about 3 is ok..... all you really need is a visa, mastercard, and amex. that's it. too many will decrease your credit rating even though you are responsible in making your payments.
hey Kieran, this is a small world cuz i think i know your dad
anyways, too many credit cards is a bad idea. having about 3 is ok..... all you really need is a visa, mastercard, and amex. that's it. too many will decrease your credit rating even though you are responsible in making your payments.
23-Feb-2005, 04:22 PM
#44
Registered User
Join Date: Jan 2004
Location: Oakville
Posts: 176
Originally posted by SW20 MR2
Anyone that tells you credit cards are bad likely has financial problems due to poor spending habits. I am totally in control of my finances when it comes to spending. I don't buy things for the hell of it or on impulse. I've had a card for over 10 years, and I have paid them off in full every month on all 3 cards.
With that being said, credit cards are perfect for me for the following reasons:
1. No need to carry cash.
2. Free borrowing of money for 15-30 days.
3. Additional perks such as extended warranties, theft coverage, etc.
4. Collect points. I have a no-fee Amex and collect Air Miles. I am slowly upgrading my hockey equipment every few months by getting Sport Chek gift certificates through my Air Miles.
Anyways, credit cards are bad IF and only IF you have poor spending habits. Period. If you have the financial capacity to pay them off in full each month, they are fantastic.
Anyone that tells you credit cards are bad likely has financial problems due to poor spending habits. I am totally in control of my finances when it comes to spending. I don't buy things for the hell of it or on impulse. I've had a card for over 10 years, and I have paid them off in full every month on all 3 cards.
With that being said, credit cards are perfect for me for the following reasons:
1. No need to carry cash.
2. Free borrowing of money for 15-30 days.
3. Additional perks such as extended warranties, theft coverage, etc.
4. Collect points. I have a no-fee Amex and collect Air Miles. I am slowly upgrading my hockey equipment every few months by getting Sport Chek gift certificates through my Air Miles.
Anyways, credit cards are bad IF and only IF you have poor spending habits. Period. If you have the financial capacity to pay them off in full each month, they are fantastic.
Sounds like you have a good handle on it. I use my drivers edge mastercard alot because you get 2 % for a vehicle purchase of your choice...
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