Comments on: What’s In My Wallet? The Two Credit Cards I Actually Use http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/ Financial talk for the rest of us Sat, 16 Feb 2013 01:14:45 +0000 hourly 1 http://wordpress.org/?v=3.5.1 By: Chris http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-69901 Chris Wed, 12 Sep 2007 01:13:11 +0000 http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-69901 Despite the rationalizations offered for using credit cards, why in the world would you want to owe a person or company money? Sure, there are rewards…assuming you don’t get jacked by some obscure restriction. However, given that they can change the rules on a whim (meaning you have to watch them like hawks) I don’t see why it’s even worth it. I’ll pay in cash, TYVM. Never forget, credit card companies are looking for new ways to cash in on you. They may not get you today, but they’ve gotten people who also assumed they would never get hosed. They’re looking for new and creative ways to get the “freeloaders”.

]]> By: Andrea http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-53076 Andrea Thu, 02 Aug 2007 22:50:55 +0000 http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-53076 My Visa gives me travel points so I use it that way I would a debit card and try to remember to pay off the purchases as soon as they’re made. Otherwise I do it on pay day, which is also when I pay down my lower-interest line of credit and add money to my savings account.

Online banking is great. A few clicks and the money is transferred, often before the charge appears on my online statement. If I waited until the statement came by mail I’d have a false sense of security that I had more money in my regular account than I do and I’d have a larger sum to pay all at once. I’d rather do the transfer and see the money moved.

Setting aside a time to do it weekly is a good idea, as I keep my receipts and scheduling might help me remember.

]]> By: Kiesa http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-53006 Kiesa Thu, 02 Aug 2007 19:43:29 +0000 http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-53006 Huh, and my husband thought I was the only one that paid off the credit card balance weekly :)

]]> By: kitty http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52977 kitty Thu, 02 Aug 2007 18:07:54 +0000 http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52977 ““Each week, as part of my bill paying routine, I check the balance of both cards online and pay it off.”
Wouldn’t signing up for having full balance automatically deducted from checking/money morket by the due date be simpler? This way there is still no danger of paying a penny an interest, but not “discipline” or “vigilance” any hustle required (except for checking the bill for fraudalent charges). I am doing that and they deduct the full amount on the due date thereby giving me an advantage of full month interest my money earn in the bank.

]]> By: Josh http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52897 Josh Thu, 02 Aug 2007 14:06:01 +0000 http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52897 Speaking of wallet’s, what kind do you use. I’ve used a tri-fold for ever. I’m thinking of getting a bi-fold. And how much would you pay for one? I can get a nice Coach bi-fold off ebay for $27.

]]> By: Jacob http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52881 Jacob Thu, 02 Aug 2007 13:20:19 +0000 http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52881 I’ve read that many of these gas/grocery rewards cards actually do not count the money spent at warehouse clubs (Sam’s and Costco) for groceries and even gas (as some do have gas pumps). What is your experience with this Trent? I know that a good chunk of my groceries are bought at Sam’s and I usually aim to get gas there as well because usually it is about .10 cents cheaper per gallon than any other place in town.

Thanks!

]]> By: Sarah Hurst http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52876 Sarah Hurst Thu, 02 Aug 2007 13:02:01 +0000 http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52876 I’ve been reading through some of your posts, and I wanted to point out that you sound a little bit like Mad-Eye Moody: “CONSTANT VIGILANCE!” That’s from Harry Potter for those not in the know. :-) Anyway, it made me smile. Thanks for the great and practical advice!

]]> By: Michel http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52749 Michel Thu, 02 Aug 2007 03:14:47 +0000 http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52749 “Assuming you are spending anything resembling reasonable amounts each week, the amount of additional interest you would gain by leaving it in your account is trivial and will be washed away by missing your payment and having to pay interest or fees even once”.
I don’t understand the logic of that.
There’s no risk of missing a payment if you use a PDA, a notebook, Google calendar or remember the milk. Instead of this poor workaround, why not fix the real problem (being disorganized)?

]]> By: thebaglady http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52747 thebaglady Thu, 02 Aug 2007 02:58:28 +0000 http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52747 Hey! I love the driver’s edge card too. I’m still on my first year of having the card so I am getting 6% on gas and groceries. I don’t have the Amazon card, though. I tried to apply for it but they rejected me because I had two other Chase cards. I do love my Chase Cash Plus Rewards card, it still pays 5% on gas and groceries. However, I think new applicants do not get the 5% anymore.

]]> By: Matt http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52686 Matt Wed, 01 Aug 2007 23:03:35 +0000 http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52686 Has anybody used the Citi Upromise card? I’ve been debating between that and my AT&T Universal Card. I just had $75(about my monthly minimum payment but I of course pay more) transferred from my upromise account to my private student loan automatically. I like the idea of accumulating rewards and having it transferred automatically rather than with Thank You points where I have to request a reward.

]]> By: Trent http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52646 Trent Wed, 01 Aug 2007 20:15:59 +0000 http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52646 The cash back on the Driver’s Edge card is in the form of a rebate on automobile expenses. Whenever you have any sort of auto work done, like an oil change, or you buy a new car, you can fill out paperwork and get a rebate on that purchase. We just got almost an entire transmission job paid for in rebates.

Here’s what the form looks like:
http://www.citibank.com/us/cards/gen-content/serv_form.jsp
You just fill out that form, attach the receipt, and mail it off.

And, yes, I spent about $4,000 on Amazon last year. I bought every single gift I gave to anyone last year (including a rather expensive gift for my parents), took care of ordering some Christmas gifts on behalf of my parents and bought quite a bit of nonperishable goods from there, too.

]]> By: Penny http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52643 Penny Wed, 01 Aug 2007 20:05:54 +0000 http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52643 We have an Alaska Airlines card which we use for literally everything except our mortgage (and it makes me sad to not get those miles). The card has a $30 yearly fee, but we’ve earned 7 full plane tickets and 2 half price tickets since we started using it 5 years ago. The $150 we’ve spent in fees doesn’t even cover the cost of one of the plane tickets.

I’m a huge fan of using cards to get the reward and paying them off every month. (I actually pay ours off every week.)

]]> By: Andrew http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52642 Andrew Wed, 01 Aug 2007 20:02:37 +0000 http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52642 When looking at the overview of Citibank’s credit cards, some say ‘cash back’, but this Driver’s Edge card only mentions ‘rebates’. Do you actually get these percentages as cash, or as rebates to be applied towards rewards like gift certificates?

]]> By: Tim http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52640 Tim Wed, 01 Aug 2007 19:55:24 +0000 http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52640 if you buy a lot on amazon, then i’d say it is worth it. at the same time, the reward points can only be used on amazon. we have the amazon card too, because we are currently working and living overseas. we get lots of stuff on amazon and having the card has proved worthwhile for us. u get 3 points per dollar spent on amazon, but it also takes 2500 points to get a voucher. once we move back to the states, we probably will stop using the card since we won’t need to buy from them.

]]> By: j http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52632 j Wed, 01 Aug 2007 19:21:22 +0000 http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52632 my dad paid my college tuition with a credit card.

we flew to mexico for free :)

and yes it was paid off immediately in cash.

]]> By: s http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52628 s Wed, 01 Aug 2007 19:14:29 +0000 http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52628 Wow.. I wish I could pay my mortgage with a credit card… That’d be a free vacation every year!

]]> By: Jeremy http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52627 Jeremy Wed, 01 Aug 2007 19:13:03 +0000 http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52627 You spent over $4000 last year on Amazon?

]]> By: Matt http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52625 Matt Wed, 01 Aug 2007 19:01:42 +0000 http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52625 I keep the money I can spend in my checking account and after I make a purchase with the credit card I transfer that amount into a High Yield savings account. How much do I make with this? I don’t know. But the average monthly credit card bill is about $600. This is going to change since my new apartment will take credit cards as a form of payment. Cha-ching! Especially if I can get my roomates to give me cash while I pay with my credit card.

]]> By: Matt http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52624 Matt Wed, 01 Aug 2007 18:58:27 +0000 http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52624 @Erika: Let’s say I charge $300 per week. If I am getting 4% interest in my savings account, I will earn more than $50 in interest per year by taking advantage of the grace period. For a guy who spends his time figuring out how much a load of laundry costs down to the penny, I would think that $50 would be significant. He’s in no danger of missing a payment, so that’s a red herring.

]]> By: Modern Worker http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52622 Modern Worker Wed, 01 Aug 2007 18:51:31 +0000 http://www.thesimpledollar.com/2007/08/01/whats-in-my-wallet-the-two-credit-cards-i-actually-use/#comment-52622 I keep hearing good things about the Amazon card. Makes we want to take a serious look into it, as I’m a regular Amazon buyer.

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