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24 Comments
- warp25, on 11/12/2009, -0/+18Best Credit Card TIP for Holiday Spending: Don't buy stuff you can't afford!!!!! The sting of repaying the credit card will be there haunting you for months/years after the brief satisfaction of the purchase.
- castingshade, on 11/13/2009, -1/+7It's a shame 'DON'T USE CREDIT CARDS' wasn't an option. The lack of impulse-control people have over money that they don't actually own is terrifying these days.
- gankige, on 11/12/2009, -1/+7Great info, but my credit is so bad I don't think I qualify for ANY of these. =p
- JonTheGoose, on 11/13/2009, -0/+5Or do what I do every year; make all my presents out of construction paper, elmers glue and dried macaroni.
Remember, it's the thought that counts. - LilJimmyNordin, on 11/13/2009, -1/+4Here's an idea: ***** the hypercommercialized holiday ***** altogether. Give the gift of financial relief to your friends and family by ordering them NOT to get you anything. Two things will happen:
1. Everyone you give this "gift" to has has more time, less stress and extra money, and has you to thank.
2. Everyone who insists on still getting gifts after you explain why you don't want any will expose themselves as a selfish ass.
If enough people do this, imagine the many ways things will change for the better... - danimal317, on 11/13/2009, -1/+3Don't use credit cards, it's dumb.
Looks like some of you aren't following the baby steps...
http://www.daveramsey.com/new/baby-steps/ - MrScotchBoy, on 11/12/2009, -0/+2I've never spent any time looking at the different types of credit cards that would be good during the holidays...and since i buy so many gifts around that time of year...I probably could have gotten some free stuff...or at least not paid so much in late fees!
- skeptictank, on 11/13/2009, -0/+2Why didn't I think of that? Here I've been wasting printer ink all of these years.
- amolkold, on 11/13/2009, -0/+2Use the credit card that you can pay off at the end of the month.
- suprememilo, on 11/13/2009, -0/+1$2000 and you get 11,000 when you sign up if you do it right.
- suprememilo, on 11/13/2009, -0/+1I don't understand late payments.
Get the Citi Forward card- enroll in autopay.
Thank you points can be redeemed 10000 for a $100 gift card, one of the best rewards systems there is. - scootinger, on 11/13/2009, -0/+1If you want to play the CC rewards game, you might want to look at having a couple of different cards to use on different kinds of purchases. I use a Citi Forward card that offers 5 points per dollar spent on certain categories (entertainment, bookstores, restaurants) which is essentially equivalent to 5% when you cash it out as a giftcard. For everything else I use an Orchard Bank 2% cashback card.
- skeptictank, on 11/13/2009, -0/+1I am well aware of what other factors go into a FICO and quite honestly I don't give a *****. I pay cash for my cars and have no intention of getting a home or any more credit cards. They can hang that FICO threat over someone else head.
- scootinger, on 11/13/2009, -0/+1You mean $2000 if you spend exclusively within the "5 points/$1" categories, like bookstores (that includes Amazon!), restaurants, theaters, etc. Otherwise it's 1 point/$1. Still a good deal, but keep that in mind.
- faskippy, on 11/13/2009, -1/+2Why would you charge Christmas? If you can't pay cash, cut back. Pay bills ahead in the months preceding, buy gifts a little at a time throughout the year, buy less expensive items, etc. It's a free Country, but personally, I just can't see going into debt over this. I know we don't want to dissapoint our kids, but this is a perfect opportunity to teach them a lot. At least a lesson in giving of themselves, doing something nice for someone else, as in volunteering at a shelter, etc. Foregoing one present and instead have them help pick out a blanket or coat for someone who needs it. And most of all, that Christmas isn't about having a free for all of their material wishes. Gifts, yes, fine. But selfishness, no. Sending your family into financial peril isn't giving, it's taking.
- michael.calfee, on 11/13/2009, -0/+1"Go online to get the latest amount in your checking account, and subtract the amount you spent on your credit cards on those holiday gifts. This will give you a good sense of whether or not you have enough to pay your bill on time." ...Genius.
- picor96, on 11/13/2009, -1/+2***** BoA!
- skeptictank, on 11/13/2009, -0/+1Don't feel bad. I paid off all of my debts 4 years ago, have never been late on a single payment on anything and my FICO score still sucks.
- Shawn4168, on 11/13/2009, -1/+2Break the cycle, people. Buy all of your gifts with cash (or debit) this year. You don't need to give the big banks any more money, the government's given them enough of your money already.
- TheMikey, on 11/13/2009, -0/+1I disagree. The better option is don't be dumb when using a credit card.
If you make sure you know exactly what you're spending money on and that you can actually afford it (for example: don't put a TV on your Visa on the assumption that you can pay it off next paycheck - ***** happens). If you do this, you can really take advantage of some rewards points. I pay my tuition on my credit card and get air miles rewards which I pay off with the student loans in my bank account. I use the rewards miles from my Visa to offset the hit of flying home on holidays.
The key is budgeting and being aware of purchases. Treat a credit card like cash or a debit card and reap the rewards - be it cash back, air miles, etc. - bkVII, on 11/13/2009, -0/+0If you've been delinquent on any of your credit products, that's really going to be the biggest factor regarding your FICO. Delinquencies will only drop off your record after 7 years.
Though very important, making your payments on time and paying off your out-standing debt are only a few pieces of the pie. Some other things that are looked at include how long you've had credit, and whether you've applied for new credit recently.
If you still don't know why your FICO "sucks," I'd recommend you pick up a book on your credit score. - Dagreenman, on 11/13/2009, -1/+1What, no Bat- Credit Card? Never leave the cave without it!
- erix84, on 11/13/2009, -0/+0And how much do you have to spend to get 10,000 points? $5,000? $10,000?
- scootinger, on 11/13/2009, -2/+1Or use them responsibly...but I'd recommend your advice for the majority of people who lack self-control.
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