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Registered: 12/11/2005
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Re: credit card switch ?

Dec 14, 2012

chaos_789 wrote:

Psycho719 wrote:

rramsdell wrote:

Psycho719 wrote:

Credit cards can make a great tool when used correctly. Having credit right now may not be important to you but in the future it will benefit you. Soon you'll be happy you got a credit credit and have great credit to buy that new car or house you want. I personally have several cards two with AmEx and one with Chase. All have their purpose and are always paid in full every month when used.


Some advice to you.  You don't need all those credit cards.  Your credit is probably fine and I would just keep one of those credit cards.  If you ever have a job loss and fall behind for what ever reason.  It's almost nearly impossible to get out of debt.  I would get rid of the rest and just keep Chase.   You don't need all those montly bills, to have excellent credit.  One will just do. 


Having multiple cards in good standing increase your average age of accounts which results in increasing of your credit score. Like I said all my credit cards have specific usage. For example, my Chase Freedom card has not been swiped in 3 months and it only used for its 5% cash back categories like gas next quarter. I agree with your statement; however, I'm not some excessive credit card swiping maniac. My savings account is there and healthy just incase of a job loss. Most people tend to overlook this side of their bank account and it can get them in trouble financially. Make sure to have enough in your savings for those tough times and even good times.


Yes, that`s right, that`s one thing I was saying earlier, everything I put on my credit card, I have the cash for in my bank account, so I can always pay it off fully each month. My card is also a rewards card, so every so often I redeem my points for a gift card. (the only thing really that doesn`t take forever to get enough points for.)


Yup, and some things are better to buy with credit than cash/debt.

 

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