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Mom Confessions Mom Confessions

Credit cards- love or hate?

Anonymous
Posted by Anonymous
  • 18 Replies

My husband and I differ on financial outlooks, I'd be more than happy to only use cash and debit cards where he loves using credit cards. 

I like the idea of the Dave Ramsey system for most people but he thinks it's a joke and for people who aren't capable of responsibly managing finances. In fairness to him, we have absolutely no debt and we are in our twenties.

I would love to convince him to not use credit but we really have no reason not to. My husband has tracked all of our rewards since we've been married for seven years now and we've earned 9K dollars in rewards. We haven't purchased a plane ticket, we rarely have to buy clothing for our daughters or ourselves because it's all free because of rewards. Aside from our Amex's yearly fee we've never paid anything to a credit card company. 

We are on track for him to retire by the time we are 45 and to live comfortably when he does.

Is this worth bothering to fight him on or should I let it go? 

Posted by Anonymous on Oct. 8, 2012 at 12:57 PM
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Replies (1-10):
Anonymous
by Anonymous 2 on Oct. 8, 2012 at 1:03 PM

Let it go.   Plus proper use of credit cards has a positive effect on your credit report.    

Anonymous
by Anonymous 1 - Original Poster on Oct. 8, 2012 at 1:04 PM

I feel like I don't keep as track as carefully when I swipe so I feel like it would benefit us to a degree if we used debit. I've never went over budget but I do feel like I have to be careful. 

Quoting Anonymous:

Let it go.   Plus proper use of credit cards has a positive effect on your credit report.    


Anonymous
by Anonymous 2 on Oct. 8, 2012 at 1:07 PM

I see your point here.   I will use the debit card for every day purchases at the store etc.  Then use the CC for bills.  I pay online and put all monthly bills on the card and then pay the card off at the end of each month.   That way you rack up reward points and your credit score stays high.   

Quoting Anonymous:

I feel like I don't keep as track as carefully when I swipe so I feel like it would benefit us to a degree if we used debit. I've never went over budget but I do feel like I have to be careful. 

Quoting Anonymous:

Let it go.   Plus proper use of credit cards has a positive effect on your credit report.    



brettsmomma
by ~Tammie~ on Oct. 8, 2012 at 1:08 PM

the best thing we did as a couple was get rid of all credit cards. We paid off the huge amount of debt we had acquired in two years and never looked back. I'm proud to say seven years later we have no debt at all. We only have to pay utilities, rent, and other things like Internet and cell bill.. because we made this change in life style we have been able to save a nice chunk of change for retirement, we have a savings for my sons education and I'm able to stay at home comfortably while still adding to our savings. 


Anonymous
by Anonymous 1 - Original Poster on Oct. 8, 2012 at 1:09 PM

I like that idea, maybe use credit when DH is with me for outing purposes. 

Quoting Anonymous:

I see your point here.   I will use the debit card for every day purchases at the store etc.  Then use the CC for bills.  I pay online and put all monthly bills on the card and then pay the card off at the end of each month.   That way you rack up reward points and your credit score stays high.   

Quoting Anonymous:

I feel like I don't keep as track as carefully when I swipe so I feel like it would benefit us to a degree if we used debit. I've never went over budget but I do feel like I have to be careful. 

Quoting Anonymous:

Let it go.   Plus proper use of credit cards has a positive effect on your credit report.    




NHGal
by Bronze Member on Oct. 8, 2012 at 1:11 PM

 If used responsibly, not a big deal.  However, it doesn't take much to screw it all up.  My DH and I have good paying jobs, but used CCs for the past couple of years.  We are now in the process of paying them off.  We are following Dave Ramsey's method and only using cash/debit for I would say 98% of our purchases.

I have stopped seeing the points or rewards as something of a benefit of my CCs so that won't get me to using them again.

AprilJ24
by on Oct. 8, 2012 at 1:11 PM
I use 1 card for almost all purchases and pay off monthly. I only use it for the Disney points!
Posted on CafeMom Mobile
Anonymous
by Anonymous 3 on Oct. 8, 2012 at 1:11 PM

DH and I have ONE c.c. for use only in an emergency but it has only been used once for a tire issue on our car while we were on a road trip. Personally they can be helpful as long as used properly.

Anonymous
by Anonymous 1 - Original Poster on Oct. 8, 2012 at 1:13 PM

Will you still be renting when you are retired? That seems like a risky deal to me because as prices inflate you will have to allow more money to go toward housing. I'm also afraid our grandkids and kids will say "sucks to be you" to us when we are older because of the massive debt from the past few administrations. 

Quoting brettsmomma:

the best thing we did as a couple was get rid of all credit cards. We paid off the huge amount of debt we had acquired in two years and never looked back. I'm proud to say seven years later we have no debt at all. We only have to pay utilities, rent, and other things like Internet and cell bill.. because we made this change in life style we have been able to save a nice chunk of change for retirement, we have a savings for my sons education and I'm able to stay at home comfortably while still adding to our savings. 


bcoll
by Brandi on Oct. 8, 2012 at 1:13 PM

We used our credit cards to build up the credit that we needed when we bought our first home, and our cars.

Used responsibly they are beneficial.

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