14
   

Hooray!!! Less than $400 (au) left to pay off on my credit card!

 
 
margo
 
  1  
Reply Sun 13 Sep, 2009 09:22 pm
@msolga,
msolga wrote:

It just makes things a lot easier for me to have all my banking transaction (savings, credit card & cheque account) under "the same roof", so to speak.


and that's where they get you - it's easier - and unless you're observant - more expensive!
msolga
 
  1  
Reply Mon 14 Sep, 2009 02:29 am
@margo,
Quote:
and that's where they get you - it's easier - and unless you're observant - more expensive!


It's actually not so bad, margo. I'll be taking up one of Choice's recommended options (see link below) which is available through my current bank. Something like 8% less annual interest rate that I'm currently paying. And my bank thinks they might be able to transfer my existing debt (from Visa red) into a new (basic black Visa) card account at no cost. So I'll be much better off, yet everything else stays pretty much the same as at the moment! (Should have checked this out ages ago!)


http://www.choice.com.au/viewArticle.aspx?id=106909&catId=100296&tid=100008&p=1&title=Don%E2%80%99t+get+bitten+by+the+card+sharks
0 Replies
 
chai2
 
  1  
Reply Mon 14 Sep, 2009 07:56 am
@Reyn,
Reyn wrote:

msolga wrote:
So you do most of your purchasing by card, Reyn, rather than using cash?

Yes, I use our one credit card (Visa, no fee) 99% of the time, if credit card is available. For me, it's a matter of convenience, not having to run to the bank to get cash all the time. I don't like having too much cash at home. In the 30+ years that I've had the card, I've only not paid it off every month, one or two times, and then paid it off after a couple of months, and that was when I first had it.

I rarely use a debit card, as I'm wary about it. There's a lot of scams going around lately with the use of them. Stuff like criminal stealing the scimmed info from a store's card reader. Scary stuff.

At least with a credit card, your liability is limited, if at all, depending on the situation.

msolga wrote:
But a $300 debt looks so much nicer to me than the $400 debt of yesterday!

Every bit helps.

I know our oldest daughter has racked up a fair bit of debt on her card. I worry about it. The interest rates are really highway robbery.



I don't even have a debit card.

I totally don't understand the need for one. In fact to me it's just one more thing to worry about.

Oh, I know, I know....you don't have to carry cash, you can't spend more than you have in your account, it's a way to track your expenses.

Well, I do all that with my credit card, and earn the points.

Is it that common for people to have so little self control?
I really don't get it. Like, does a person go into a fugue or something that they don't realize they are picking out, paying for, bringing home (or having delivered) merchandise? Do you walk in the front door and suddenly realize you're holding a bag with stuff you bought? Do you not realize you're allowed to return the items, if you suddenly become conscious and see you've purchased stuff you don't need or can't afford?

I know this sounds bitchy. I do understand there are circumstances that lead to debt. That's not my point.

msolga, you should be very happy you've got your debt down to $300. Make the commitment to use your credit wisely in the future. Take advantage of rewards, visualize you are pulling cash out of your wallet when buying something, but don't stop using it.

0 Replies
 
dyslexia
 
  1  
Reply Mon 14 Sep, 2009 08:05 am
I use my debit card for 99% of my transactions.
chai2
 
  1  
Reply Mon 14 Sep, 2009 08:19 am
@dyslexia,
dyslexia wrote:

I use my debit card for 99% of my transactions.


why?

seriously.
dyslexia
 
  2  
Reply Mon 14 Sep, 2009 08:35 am
@chai2,
well, before I had a debit card, I wrote checks, the debit card is essentially just an electronic upgrade of writing checks and far easier to use.
chai2
 
  1  
Reply Mon 14 Sep, 2009 09:06 am
@dyslexia,
dyslexia wrote:

well, before I had a debit card, I wrote checks, the debit card is essentially just an electronic upgrade of writing checks and far easier to use.


why did you write checks instead of using a credit card?
dyslexia
 
  1  
Reply Mon 14 Sep, 2009 09:25 am
@chai2,
I've always regarded credit cards as emergency use only. checks/debit cards are just to avoid having to carry cash.
chai2
 
  1  
Reply Mon 14 Sep, 2009 09:52 am
@dyslexia,
dyslexia wrote:

I've always regarded credit cards as emergency use only. checks/debit cards are just to avoid having to carry cash.


ok, I get that is what you think, but, why?

why do you regard cc for emergencies only? what's the difference between charging and paying off your balance for the things you buy anyway, and using a debit card or check?

well, besides the obvious enjoyment of reconciling your checking account every month.

I'll admit, it's a lot of fun to keep track of all your transactions for the month, and make sure you don't ever overdraw because you really did need to get something, but wouldn't have the money in your account until the next week.

It really takes the excitment of living on the financial edge when you use your card to get a good deal on something you use regularly, but have weeks to make sure the money will be there when the bill is due.
0 Replies
 
 

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