Credit Cards

As many of you know, I don’t use credit cards. I have been well aware that there are some great credit card rewards programs out there that are very enticing. In fact, when we were paying off our consumer debts, I played the balance transfer game and continually transferred our balances to get 0% and earned some nice rewards in the process. But when we finally paid them off, we decided to do away with our credit cards and stick with our 2% cash-back debit card.

I want to issue a strong warning about them. I have seen a lot of people who thought they could handle having a credit card end up in a bad situation. It really takes a unique type of person and a lot of pro-active diligence to be able to use a credit card and come out ahead. Carrying a balance and paying 15% interest just to get some miles or points just doesn’t make any sense. Please don’t do this.

Do yourself a favor and know your weaknesses and if you aren’t a person who isn’t 100% confident that you will pay off your credit card balance each month – don’t even bother looking for a credit card,  just get started paying them off ASAP and avoid them like the plague.

But for those of you who keep asking me about balance transfer credit cards, here you go…