I dont have one so I couldnt tell you. I had one 30 years ago for a couple years but now I just keep a $10k emergency fund in savings.
I used to have so many major and store credit cards that I barely had room in my wallet for more than five slips of paper money. I now only have one credit card that I use for online purchases and it resides in my safe. Though I have more room in my wallet, I still don't carry more than a few dollars in it.
Woody
Woody
When I was working and traveling TOO much, I had Government and personal credit cards. Paid all each month and never carried a balance.
Did not care about "credit score." Mine was always at the top and they kept increasing the limits without asking.
Retired, I have two credit cards (the MC gets hacked through a store every year or two, and they send a new one), pay both off each month, have never carried a balance.
Decided it was stupid to have enough credit card to buy a new Mercedes, so took action to freeze my credit card limit at MY chosen figure.
My "credit score" is still at the top, and I still don't care. I accumulated HUGE credits for "free travel" did not use soon enough, and lost all through a chapter 11 reorg.
Nobody ever got rich from credit card "benefits." My advice if you get any, USE THEM SOON before they evaporate.
Did not care about "credit score." Mine was always at the top and they kept increasing the limits without asking.
Retired, I have two credit cards (the MC gets hacked through a store every year or two, and they send a new one), pay both off each month, have never carried a balance.
Decided it was stupid to have enough credit card to buy a new Mercedes, so took action to freeze my credit card limit at MY chosen figure.
My "credit score" is still at the top, and I still don't care. I accumulated HUGE credits for "free travel" did not use soon enough, and lost all through a chapter 11 reorg.
Nobody ever got rich from credit card "benefits." My advice if you get any, USE THEM SOON before they evaporate.
I use my credit cards and always pay them off at the end of the month to zero balance. They aren't making any interest on me and if they want them back I don't care, I'll still have my USAA card. Credit has hurt more people than one can count and US households collectively have more than $1 trillion dollars in credit card debt and that has the ability to hurt the country in a bad way.
A trillion dollars is nothing --- we learned that from the last tax cut package.
We use our AMEX for every purchase we make and where accepted. Even put $5K of the down payment (max allowed by BMW on a card) on the AMEX last month for a new vehicle purchase. We pay off the balance every month and then use the points, accepted on Amazon, to make discretionary (sometimes frivolous) purchases.
Credit isn't always bad, it's only bad when you can't make the payment. Not too many can outright buy a car or a house and without good credit what do you do. Go to one of the pay by the week car lots and pay 3 times what the car is worth and waste money on rent your entire life. Credit cards are dangerous only for those that can't manage money and want it now weather they can afford it or not.
Wow, not a single poster admits to carrying a balance on a credit card. I guess they are great and the stories I hear of massive credit card debt are just fiction. Travel points, cash back, and other rewards must have credit card companies going out of business. MANY people have large credit card debt, new cars they can’t afford, and house payments they struggle to make. Most of them will tell you they are doing fine. A lot of people can’t afford to pay cash for an unexpected $1000 emergency but have a nice credit score.
I guess none of those are on OSA
Sent from my iPad using Tapatalk Pro
I guess none of those are on OSA
Sent from my iPad using Tapatalk Pro
Didn't say I never carry a balance on a CC. Right now I owe a store card $500.00, charged $1000 last month, paid $500 on the 1st and will pay the other 500 1st of next month. Bought my truck with a loan from our credit union but had it paid off within a year. We were blessed with good decisions and some luck when we were both working and can now live comfortably on SS alone.
You were smart, I retired once and took another job and banked the retirement and lived on the salary from the new job. Sometimes I even forgot when the check came in I was so busy. But I retired at age 54 and never looked back. Sure, I miss work sometimes and the people and friendship I had with other workers but I've gotten by.
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