Remember in this post where I discussed my financial goals , well as a result, credit card number one now has a $0.00 balance. Ha! Feels good. I also put $300 towards credit card number 2 which now has a balance of $1307.52. As I mentioned in the aforementioned post, I am in no hurry to pay card number 2 off because I have a 0% interest rate on that card and I am using it to increase my credit score. Speaking of credit card usage, I stumbled upon this post posted over at cashmoneylife which discuss 10 reasons why credit cards are good. The number one reason he had posted was this:
1. Build credit history: Charging small amounts and paying them off is a great way to establish credit history. Without credit history, it can be more difficult to get loans (including good loans such as student loans or a mortgage), secure insurance, or even land a job. If you are able to secure a loan without any credit history, your loan rate may be higher as a result.
Now, once you've read the post (it is a bit long...think thesis HA!!) proceed a bit further and read the comments. There are several folk who disagree with the original poster reasonings. I happen to agree with his post. Actually, several of his given reasons I never took into consideration, such as the extended warranties and short term loans.
I am NOT advocating the use of credit cards as a tool to go ca-razay with. Nope never that. Not ever. I do think if used properly, it has benefits.
I hope the above link will prove to be beneficial to someone out here in blog land.
3 comments:
I had to make my credit cards off limits for a while because I realized that my balances were too high to pay off. But even then, I used my AMEX sometimes in the same way some people use payday loans, because I was short on funds until my next paycheck. Yes, it was living beyond my means, but every month it was paid off! It was the beginning of me learning how to do it right.
I am finally in a position to use my cc's like they're supposed to be responsibly used, which is for stuff I can pay off at the end of the month. It feels great to use them responsibly and see zero balances at the end of the month every month.
Oi, achei seu blog pelo google está bem interessante gostei desse post. Gostaria de falar sobre o CresceNet. O CresceNet é um provedor de internet discada que remunera seus usuários pelo tempo conectado. Exatamente isso que você leu, estão pagando para você conectar. O provedor paga 20 centavos por hora de conexão discada com ligação local para mais de 2100 cidades do Brasil. O CresceNet tem um acelerador de conexão, que deixa sua conexão até 10 vezes mais rápida. Quem utiliza banda larga pode lucrar também, basta se cadastrar no CresceNet e quando for dormir conectar por discada, é possível pagar a ADSL só com o dinheiro da discada. Nos horários de minuto único o gasto com telefone é mínimo e a remuneração do CresceNet generosa. Se você quiser linkar o Cresce.Net(www.provedorcrescenet.com) no seu blog eu ficaria agradecido, até mais e sucesso. (If he will be possible add the CresceNet(www.provedorcrescenet.com) in your blogroll I thankful, bye friend).
Thanks for mentioning my post. I'm glad you learned a few new things about credit cards! I know I learned a few things when researching the article! :)
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