Using my credit card daily, instead of debit.

[Nutria]

I use my cc for everything and it puts charges into categories for me

It put a schoolbook purchase in "Entertainment"... LOL

I've never not paid it off in full each month.

You're better than I was back then.

[bzbee]

I use my cc for everything to get cash back and rewards. Watch me talk about it on my video http://youtu.be/ZVKqgybMXZE

[Weird Tolkienish Figure]

I debated this a lot, personally. To me using the credit card monthly is too easy to go overboard on spending,day to day. You just don't care as much when you got that plastic in your wallet. Too easy to call for takeout instead of buying your food at a grocery store.

Not only that but the benefit from day to day savings isn't all that much if you are frugal.

I simply leave my CC in my dresser at home and use it for monthly, fixed expenses when I can. I also use it for online purchases.

It works well.

[tripods68]

Hello all,

My credit limit is $1,000 and I only have that one credit card along with one debit card under the same banking institution ever since I was 18. I've never missed a payment, and just started the method of paying the credit bill off in one shot, monthly, before the due date. So, onto my two questions:

1) Should I be asking for a credit limit increase, just for the sake of it? My friend advised me (he is a credit/mortgage specialist) that I should seek $5,000 and no more.

2) What should I realistically be aiming to be spending on my card vs. saving in my bank account? (monthly)

If you need any additional information, please ask! Thank you in advance.

Bad news! You are heading towards a cliff--real fast!

Your friend gave you a LOUSY advice to get into more DEBT!

Think about it--you're 25 years old, living at home with no other responsibility. What happened when you need to move out from you parent's home and decide to get an apartment, or buy a house. Do you have extra $$ set aside? Maybe in a year or do decide to get married and have a child. Things gets expensive real fast...I feel it. I'm burden just thinking about it!

Are you planning to live on credit cards because your paycheck is not enough since mostly goes towards debt payments. It's a terrible way to spend your working career and its difficult to save money at all, let alone built a ness egg and saving for college.

The key is not use credit card at all, instead continue to save what you have been doing before, use cash. Why start on something you know breaks people's finances.

Do you have EF? If not, start building your 6-months of EF. Do you have a budget? If not, make a budget and give yourself spending money ($200 a month as example), the rest should be save towards a purpose so you won't have to use debt. Most end up broke by using their C C daily. You are not there now--so why even go there?

Stick to cash!

[Nutria]

I debated this a lot, personally. To me using the credit card monthly is too easy to go overboard on spending,day to day. You just don't care as much when you got that plastic in your wallet. Too easy to call for takeout instead of buying your food at a grocery store.

Not only that but the benefit from day to day savings isn't all that much if you are frugal.

I simply leave my CC in my dresser at home and use it for monthly, fixed expenses when I can. I also use it for online purchases.

It works well.

We did that when we came to our senses about CC debt. A debit card was really useful, since we found that dead Presidents just dribbled through our fingers like water -- almost as bad as a CC.

But with the DC and a spreadsheet to document what still needed to be spent (groceries, electricity, etc), we could judge our current spending based on where we'd be at EOM.

[elessar78]

If you are disciplined enough you can buy almost everything with a credit card then pay the bill off in full each cycle. Earning some cash back or rewards in the process. Plus, credit cards offer added security being that you can dispute fraudulent charges, and swiping a credit card won't give a hacker access to your checking account.

If you don't track your finances and tend to overspend, then I'd stick to the debit card. Check your balance frequently and know exactly what funds you have available.

Do you use cash back CCs? At 1.5% I wasn't sure they have been worth it. But I'm open to new ideas.

[greenskeeper]

I have one credit card and use it for everything. Paid off in full each month. This way I can track all purchases and expenses, plus I get between $50-$100 per month cash back for using the card....no brainer.

[Singuy]

I have one credit card and use it for everything. Paid off in full each month. This way I can track all purchases and expenses, plus I get between $50-$100 per month cash back for using the card....no brainer.

Dang guy! You either spend between 5-10k (2.5-5k for a 2%) a month on your credit card or you got some crazy reward card!