Do you keep a credit card ? Or only a debit ?

Hi guys,

Do you keep a credit card ? Or only a debit card ?

Why ?

Thank you

 

I have both. Credit cards are for my protection in purchases as well as building credit for future purchases.

 

as Bugsy said, + ease of payment for international travel. I never let it go past the 30 day interest free period

I believe that people should use 'credit' for only for buying property, (possibly business loans etc) but buying cars, holidays, IPhone on credit is foolhardy as if you don't have the money to pay it upfront, you shouldn't be buying it in the first place. People get fooled into 12 month interest free credit like a PC, often the price has been raised to compensate.

 

I always pay in full as well. No point in giving away your hard earned money for no reason. That being said I charge everything because I get cash reward on a lot, like 1% cash back so I reduce the principal amount I spend by doing it.

Also it's smarter to buy a house/ car financed even if you have the cash to pay in full. Even if you're paying 5% finance on a principal amount you can put that same principal amount in a good stock that returns 8-10% thereby covering any interest on the finance while simultaneously reducing the overall principal amount of the car/ house. You're using assets to reduce the cost of the liability essentially using other people's money to make more money.

 

Both. I use my debit to get cash from atm's. I use my credit card for all the purchases I can in order to get the rewards points. I never keep a balance on the card.

 

Does all credit come from fed(inflation/printing) bank or local banks lend their own clients money?

If its first case then its license to steal.

 

I only have Debit Visa and Debit Mastercards...cashback rewards, rewards points, purchase alerts, bill paying and same protections as a credit card.

Also, I'm debt free.

wrbtrader

 

I have been debt free for all my life.
Cant remember last debt.
Bad client for bank.

Best client is overborrowed hard working.

 

Use to just use debit, then kind of realized I was paying for everyone’s credit rewards and cash back. So now I joined them. Just charge everything and pay the bill monthly.

 

Yes. No real advantages to debit cards, but there are some disadvantages.