Quote:
Originally Posted by Exile
I can appreciate the advantage of earning points from using a credit card, but I have a hard time believing that when most people go shopping with a credit card that they limit themselves to buy only what they need. Merchants and card lenders depend on shoppers' yielding to temptation to overspend.
I carry my credit card and debit card with me in case of a true emergency. Because I live outside the U.S. a big disincentive for me to use them is that I would get whacked with a 3% currency conversion fee by my card issuer which would more than offset my rewards points. So by carrying cash instead--and not very much due to safety concerns, my shopping is limited to the money that I have on hand.
Points? Cash back? Who needs them? When you don't use plastic, the items that you once thought are must-haves often become non-essentials. And you wind up with a 100% discount by not purchasing them in the first place.
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I think most people are much more likely to spend that wad of cash burning a hole in their pocket. For me personally, it doesn't matter. And to use cash means you have NO LEVERAGE when you buy that bum TV or PC or other high priced electronic gizmo or gadget. Cash shows no audit trail.
There are just too many reasons to use the credit card. But to be fair, I know there are those that are vulnerable to getting into trouble when using credit cards because one does not "feel" the loss as much with a card then if they had paid cash...but that is them, not me :-)