Do you use credit cards?

[scorch]

Although credit cards are a good way to establish credit, some people don't use them because they spend too much and have difficulty paying the bill. What do you think? I understand that if you're spending a lot and only making the minimum payments, you end up owing more and your score does not go up very much.

I came pretty close to being declined for an apartment due to bad credit, so I always Pay in full. Although I don't always like paying it, I have to.

Credit cards can be tricky, but using them has its advantages. Do you use them?

[chane]

I use them strictly to build credit or for business purposes. Using them for anything else can get you in big trouble.

[scorch]

Originally Posted by chane

I use them strictly to build credit or for business purposes. Using them for anything else can get you in big trouble.

Cool. I believe that if you have a cell phone bill that is 50 dollars and want to use the credit card to pay it every month, it kind of saves you 50 dollars since you don't have to pay off the card for about a month. A credit card can come in handy in some situations too imo. For instance, if someone needs to make a payment for something by the 25th otherwise it's late and doesn't have the full amount for some reason, but doesn't get paid till the 30th. A lot of people use them for emergencies too which is understandable.

I was reading on the credit card forums that having open accounts while maintaining a zero balance can improve your score as well, dusting it off every once in a while to buy a pack of gum or something for the sake of preventing the account from being closed. Closing an account, I heard, can actually lower your score.