The Saving Advice Forums - A classic personal finance community.

Are CCs worth the hassle?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Are CCs worth the hassle?

    I have been reading on the forum about how CCs have great rewards programs and such, but my question, is the hassle of keeping track of credit cards worth it? It seems one needs to have a handle on their finances before even attempting to deal with CCs. Any comments?

  • #2
    I wouldn't know how to do my business without a credit card. Every time I need to travel or order supplies, they ask for a major credit card for payment or deposit.

    That being said, you only need 2 (1 if you aren't self-employed) - 1 for business and 1 for personal.

    Comment


    • #3
      Originally posted by Scanner View Post
      I wouldn't know how to do my business without a credit card. Every time I need to travel or order supplies, they ask for a major credit card for payment or deposit.

      That being said, you only need 2 (1 if you aren't self-employed) - 1 for business and 1 for personal.
      Can you not use a debit card for travel or ordering supplies? I use mine for when I book hotels or booking a flight.

      Comment


      • #4
        Originally posted by ActYourWage View Post
        is the hassle of keeping track of credit cards worth it?
        What is there to keep track of? I go to a store, swipe my CC instead of handing over cash, get a bill each month and pay it. I never have to go to the ATM to take out cash. I never have to worry about running short on money. I have buyer's protection. And I get rewards in the process. I think using a CC is easier and safer than using cash.
        Steve

        * Despite the high cost of living, it remains very popular.
        * Why should I pay for my daughter's education when she already knows everything?
        * There are no shortcuts to anywhere worth going.

        Comment


        • #5
          I think it depends on you personality....to mr they are a hassle and psychologically I know I run the risk of spending more and paying late. Others have no such trouble.

          But then I find other things easy.

          IMO if you find it a hassle skip it.

          Comment


          • #6
            Originally posted by disneysteve View Post
            What is there to keep track of? I go to a store, swipe my CC instead of handing over cash, get a bill each month and pay it. I never have to go to the ATM to take out cash. I never have to worry about running short on money. I have buyer's protection. And I get rewards in the process. I think using a CC is easier and safer than using cash.
            What I mean by hassle is mostly the mental aspect. Knowing you have to pay it off at the end of the month. I go in swipe my debit card and not have to worry about paying for it at the end of the month. It is paid for right then. I disagree that CCs are safer in terms of using one verse cash or debit card. Most people swipe that CC far too many times to be safe.

            Comment


            • #7
              Originally posted by ActYourWage View Post
              What I mean by hassle is mostly the mental aspect. Knowing you have to pay it off at the end of the month.
              We never use our CC to buy anything that we can't afford or wouldn't be buying anyway so it is really a non-issue for us. The fact that I'm paying with a credit card in no way impacts how much I spend or what I buy.
              Steve

              * Despite the high cost of living, it remains very popular.
              * Why should I pay for my daughter's education when she already knows everything?
              * There are no shortcuts to anywhere worth going.

              Comment


              • #8
                I agree with Steve. I find credit cards to be the easiest way to track and manage spending. Trying to keep track of cash spending can be much more difficult. Many credit cards offer spending summary reports that categorize your spending habits and make it easy to see where your money is going.

                Comment


                • #9
                  Originally posted by disneysteve View Post
                  We never use our CC to buy anything that we can't afford or wouldn't be buying anyway so it is really a non-issue for us. The fact that I'm paying with a credit card in no way impacts how much I spend or what I buy.
                  I can see it work with your take on the use of CCs. But you are in the minority.

                  Comment


                  • #10
                    Originally posted by JinCO View Post
                    I agree with Steve. I find credit cards to be the easiest way to track and manage spending. Trying to keep track of cash spending can be much more difficult. Many credit cards offer spending summary reports that categorize your spending habits and make it easy to see where your money is going.
                    Why can't you use a debit card the same way. It is cashless but knocks out the worry of knowing whether you will have enough to pay the CCs off at the end of the month. To me that is a hassle on my mind, even when I know I will have the money available to pay off at the end of the month.

                    Comment


                    • #11
                      Originally posted by ActYourWage View Post
                      Why can't you use a debit card the same way. It is cashless but knocks out the worry of knowing whether you will have enough to pay the CCs off at the end of the month.
                      So instead you have to worry if you have enough in your account at that moment to cover the charge you are making. That seems to be a much bigger hassle to me. Using the CC, I have time to move money around if I need to before the bill is due. With a debit card, I need to have that money available in my account right away. That would require much more careful money management than using a CC.

                      I often read and hear people complaining about overdraft fees. I suspect that a lot of those fees come from people using their debit card when they don't have enough in their account to cover the purchase. With a credit card, that doesn't happen. I would never go over my CC limit. I mean it is theoretically possible but I'd have to take leave of my senses since my limit is over $30,000.
                      Steve

                      * Despite the high cost of living, it remains very popular.
                      * Why should I pay for my daughter's education when she already knows everything?
                      * There are no shortcuts to anywhere worth going.

                      Comment


                      • #12
                        A debit card would be just as easy as a credit card in terms of convenience, but I prefer to use a credit card because of the rewards. We keep enough in our checking account so that there is not a concern about being able to pay the credit card in full each month. If this was not the case I could see the argument of using a debit card instead of a cc.

                        Comment


                        • #13
                          Another issue is when two people are on the same account, like my wife and I. If we were using a debit card and I happened to go out and make a significant purchase not knowing that she had done the same, that could be a problem, but it wouldn't be with a credit card.
                          Steve

                          * Despite the high cost of living, it remains very popular.
                          * Why should I pay for my daughter's education when she already knows everything?
                          * There are no shortcuts to anywhere worth going.

                          Comment


                          • #14
                            Originally posted by disneysteve View Post
                            So instead you have to worry if you have enough in your account at that moment to cover the charge you are making. That seems to be a much bigger hassle to me. Using the CC, I have time to move money around if I need to before the bill is due. With a debit card, I need to have that money available in my account right away. That would require much more careful money management than using a CC.

                            I often read and hear people complaining about overdraft fees. I suspect that a lot of those fees come from people using their debit card when they don't have enough in their account to cover the purchase. With a credit card, that doesn't happen. I would never go over my CC limit. I mean it is theoretically possible but I'd have to take leave of my senses since my limit is over $30,000.
                            No that means I can't afford it now. My debit card will not take if I don't have the funds in my account. Back in my 'younger uninformed' days, I tried to buy a computer and they would not take the debit card because I didn't have the enough funds in my account, now if I had a credit card, sure I would have purchased the computer, I can pay the minium at the end of the month, right.

                            Comment


                            • #15
                              Originally posted by JinCO View Post
                              We keep enough in our checking account so that there is not a concern about being able to pay the credit card in full each month. If this was not the case I could see the argument of using a debit card instead of a cc.
                              When I use a credit card, it doesn't change my spending habits. If I have the money to use a debit card, I also have the money to use a credit card. If I don't have the money to use one, I don't have the money to use the other either.

                              If you are going to use your CC to buy things that you can't afford, then I'd agree that you shouldn't use one, but in that case, I'd suspect you're going to have money problems no matter how you pay.
                              Steve

                              * Despite the high cost of living, it remains very popular.
                              * Why should I pay for my daughter's education when she already knows everything?
                              * There are no shortcuts to anywhere worth going.

                              Comment

                              Working...
                              X