this post was submitted on 26 Dec 2023
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Credit cards are fine for people who can control their spending. I never pay interest, so I get my rewards for free and am building my credit. If you cannot control your spending habits, you might consider a card with a low limit.
You mean you never pay interest by paying off the debt before the next billing cycle, right? Or is it fine to get zero interest for whatever amount of months on certain purchases?
We do both... both are fine. As long as you aren't paying fees or interest, there is no disadvantage to using credit cards.
Ah, okay, I always figured the only way to really be responsible with credit was to use credit cards like debit, but if a big purchase came along that I definitely couldn't pay off within the month, I figured it wouldn't hurt to have zero interest but wasn't sure of the impact on my credit.
As long as you have the discipline to actually pay the thing off it's fine. Many people think, "oh I have 0% interest, I'll pay it off later" but never set aside the money to do so and end up accruing interest.
I never buy something on them I couldn't immediately pay off in full when I hit buy. I've bought things in excess of my checking balance, but that's because I had enough in savings (separate from my emergency fund), and my incoming paycheck would put my checking balance well above my credit card balance.