How many credit cards do you have?

[trof]

Do you use one exclusively that gets you cash back (like Discover) or airline points or whatever?
Do you pay the entire balance every month?

Me: Discover & a MC for the jerks who STILL don't take Discover.
Got in trouble with credit cards when they first came out and I got laid off.
Now I pay the balance every month.
You?

[gmaki]

1. American Express Blue

and a Citibank cash back MC for places that don't take Amex.

Paid off every month. NEVER carry a balance.

I am getting around $1,000 back this year.

[trof]

2. Hi. Welcome to DU. Question:

Does Amex charge an annual fee for the card?

[gmaki]

10. No annual fee.

The only catch is that in reality you only get an average of about 1.5% back. Nowhere near the 5% that the advertising would have you believe.

[amazona]

26. no fee amex

There is a no fee American Express card being offered right now at delta.com if you accumulate Sky Miles. 12,500 miles per person first time you buy something with the card. 12,500 is halfway to a free domestic ticket!

Don't forget to cancel the card once the miles have posted. The second year annual fee is $85 -- which is ridiculous. Far as I'm concerned, there are too many free cards around and annual fees are a thing of the past.

The conservation movement is a breeding ground of communists
and other subversives. We intend to clean them out,
even if it means rounding up every birdwatcher in the country.
--John Mitchell, US Attorney General 1969-72

[Boomer]

3. One VISA card...

One VISA card for shopping convenience, paid off every month mostly unless I have an unusually large expense (like a new computer).

Just paid off my mortgage this month, so I'm basically debt free. I liquidated much of my "retirement" savings to make sure my house belongs to me, not the bank. That way, when the US economy tanks, I'll be able to stay afloat longer when my job evaporates.

[trof]

4. Congrats Boomer.

I'm already retired and still have a smallish mortgage.
I'm better off keeping the money invested, but it would sure be nice not to have a monthly payment.

[Boomer]

9. I'm still surprised....

I'm still surprised that my broker agreed with my decision, since I reached it from a base of extreme distrust of the current economy and she doesn't share my pessimism.

Fortunately for our working relationship, she felt it was basically an even trade between the money I would make keeping the funds invested versus the money I would save in mortgage interest.

[trof]

11. In your situation I might do the same.

In an uncertain economy if your job isn't a lock it could be a good move.

[Boomer]

19. No job is a lock these days

Anyone who thinks they have job security is living in a dream world -- unless they're a CEO with a golden parachute.

I usually avoid financial news, but DU has been instrumental in opening my eyes to the extremely fragile state of the US economy. We're walking on eggshells and basically kept operational by the world's desire to keep us operational. But if we piss off enough countries with Connie Rice's diplomacy, the incentive to stay with the dollar could evaporate.

If the world throws their support behind the Euro, all bets are off for staying solvent in the US.

[KittyWampus]

5. None. I'm Paying All Mine Off After Using Them For Art Class & Materials

I have no money, it all goes to pay off my debt which will take another year and a half.

Everything is cash or debit card.

[hippiechick]

6. None

Cash n carry for this chickie.

[Feathered Fish]

7. Visa doesn't want me

nor does mastercard, citibank, amex or discover.

[Darth_Kitten]

8. 3

And paying them off is quite hard. :(

Visa and Mastercard must love me too much. :(

[SW FL Dem]

12. We have a 2 MC and 2 Visas

All are paid off every month. Since we don't pay annual fees or interest, we use the separate cards to track expenses, hubby has one for business and one for personal, I have one with a high limit for household stuff and one with a low limit that I use for internet purchases (if anyone gets my info they can't do much damage).

We've had high balances and worked hard and made lifestyle changes to get them paid off. We will never carry high balances again. We keep getting offers to spend more or transfer balances, it feels wonderful to rip em up and toss them out!

[Ilsa]

13. I use three cards.

One for family that gets us free hotel rooms, and my husband charges on it also. Another for my business purchases. Another gets me free S&H on my LLBean purchases.

My husband has several monthly expenses going to one card that gets us airline miles. (I think I can go to CA to see a friend this spring, first class, for free.)

And he has another card he uses for business travel.

[mike_c]

14. zero

None. Nada. Zip. I use a check card only.

[ConcernedCanuk]

15. None - cut em all up over 20 years ago

.
.
.

Probly the sanest decision I ever made

And I don't buy anything on time either, what's mine is MINE

When Income Tax refund comes - it's all MINE

and when times are tuff?

noone's coming to take my furniture, tv, car, whatever away,

Cuz it's all paid for

And that's the way I's gonna keep it!!

:dunce:

[miss_kitty]

16. none

[intrepid_wanderer]

21. ONE. TWO.. THREE... FOUR.... FIVE.....!!!!!

:bounce:

one for the 'evil conspiracy'

one for my hotel stays - (almost ready to claim my 'free' flat-screen w/ it) :bounce:

one for the $30 gift offer from amazon... (which I'll cancel soon after the redemption)

one I've had forever ('cause it has my picture on it & helps keep my credit score high)

one that I got at 0% for just over a year
:bounce: (effectively paying me about $45/month toward my mortgage) :bounce:

___________________
FIVE CREDIT CARDS

:bounce: only one of which ever really gets used... and PAID OFF every month

I gotta get a flat screen (just 'cause I want one DAMMIT).. and of course I cannot afford the damned thing myself!

:bounce: :bounce: :bounce: :bounce: :bounce: <sorry, I like the bouncey>

[achtung_circus]

30. Try some variety here

<http://smiley.onegreatguy.net/index.html?>

3 pages of it.

[sphincter]

17. 3 cards in total

1 airline VISA to collect miles
1 bank VISA to pay my tax bills
1 Platinum AMEX to make up for small genitals

I pay everything in full every month. Have never carried any balance over.

[proud2BlibKansan]

18. None

no debt except house and car.

I save the money I used to use to make credit card payments with every month. Then when I want a big ticket item now, I get the money out of savings and pay cash for it.

[Boomer]

20. So who are these average Americans....

So who are these average Americans who carry $30,000 in credit card debt?

Makes me wonder, if this average is made up of people like me -- no debt at all -- and other people with $60,000 in consumer debt.

Scary thought.

[arismomkoofie]

23. Me! I owe a bit less then $10,000

Let's just say my 9 years of college were expensive - Student loans only covered school, and even workign full time would not pay all the bills!

Now, I make over $40,000, live with my mom, and have no savings after my bills, including school loans.

FYI - save for your kids education - they can't pay for it on their own!

EDITED TO ADD: I only use a debit card now, and only have one credit card I am paying off

[intrepid_wanderer]

25. SADly...

but yeah... I think it is set up of many in situations so upside down that they pay more in interest than on their childern


sad shit :(

[mondo joe]

22. I have one credit card that I rarely use. I debit card all the time.

It was a weird adjustment, but paying cash helped me to be more realistic about the money I have to spend.

[amazona]

24. don't know for sure

You kind of end up with a lot because they keep paying you to get them -- $50 gift certificate to some restaurant, 25,000 miles (a whole free domestic ticket!) on an airline, $30 from Amazon.com being given away right now if you get the card, even actual cash bribes at the height of the madness.

Yes, I try to cancel and cut up some of these but I'm aware that even if I ask to be canceled they really don't, because I still get solicitations from time to time urging me to reactivate some of these accounts.

I am low income and thus I pay off every month. No way I have money to spare for interest.

The conservation movement is a breeding ground of communists
and other subversives. We intend to clean them out,
even if it means rounding up every birdwatcher in the country.
--John Mitchell, US Attorney General 1969-72

[harper]

27. I have two cards

A Visa that I use for INTERNET purchases and a Mastercard that I charge all my monthly expenses on...gas, groceries, etc. Also I've put several of my utilities on it so they automatically charge to MC. That way I only have to write one check per month to pay things off. I get reward points that go to pay down my mortgage balance.

I am very careful to pay off the balance of both cards every month.

[Sgent]

28. American Express Green

one for business, and a debit card.

For some reason I can't get a decent credit limit on a Visa/MC.

With AMEX I can charge $10,000/month and they won't blink, but I can't get more than about $2,000 on a Visa/MC.

Since I use it a lot for wierd business purposes, travel, and entertainment, probably about 1/2 of the time I run up more than 2,500 a month. (This month for instance was 15,000 already).

I get reimbursed, (I don't make NEARLY enought to spend that kind of money otherwise); however, its not unheard of.

FYI... With AMEX you must pay off charges every month.

[amazona]

33. Get some miles with that Amex!

You probably are getting miles or another benefit already but if not, call them and ask to change your Amex green for a SkyMiles card and get the Delta miles.

Worth a try.

My partner and I have each received 22,500 miles toward a free domestic ticket (which costs 25,000 miles) and we have not yet taken one Delta flight since we are Frequent Flyers on a competing airline which has treated us right. We'll do a few charges on our new Amex cards, and we'll have free airfare for a vacation. With the amount of business expense you are charging, you should be getting 100s of thousands of miles.

Bart of Bartcop has some information about getting free miles/tix from Southwest but I don't know so much about that one or if one of the cards is an Amex.

Visa/MC are weird. They start you off with lower credit limits but once you use them, they can raise them in a hurry to well above your annual income. So they must be aware of business travelers who are reimbursed. But do what you are comfortable with.

The conservation movement is a breeding ground of communists
and other subversives. We intend to clean them out,
even if it means rounding up every birdwatcher in the country.
--John Mitchell, US Attorney General 1969-72

[Sgent]

37. Thanks for the heads up

I pay for Membership Rewards, which can be converted to miles or hotel points.

[B Calm]

29. Just one Mastercard and a Bank debit card..

[achtung_circus]

31. One Master Card

which is carrying my divorce debt (mostly). I get a lower rate than a line of credit. It's getting paid off in a hurry- I'm only rerally happy when I have NO debt.

[loudestchick]

32. 1. I work for the issuing bank....so my interest rate is less than 6%

[General Zod]

35. Same here

I pay the prime rate, plus 1%.

[loudestchick]

36. Which one? I'm at BofA.

[General Zod]

38. I'm also at BofA

Hello, fellow associate

[loudestchick]

45. But you're at the center of all things BofA in NC? We're in a bit of a

squeeze in KC.

[yellowdogintexas]

34. We have 3 Master Cards and 1 Visa between us.

The Visa has a -0- balance !!!! and the others are getting there quickly. Just about the time I get mine down to zero, either an appliance dies or I have to take a plane trip. Most of what is on those cards is travel, since I made two trips to Kentucky by plane in the last year, we all flew to Boston in June, my daughter also flew to Kentucky, and I flew to visit my husband twice in Wyoming and he flew here three times.

I was making those trips to Kentucky to visit my mother who has since passed away (one trip was for her funeral) so won't be doing that quite as much anymore.

I have a ton of department store, gasoline cards which are always paid in full each month, and we are making way above minimum payments on the Master Cards. One of my Master Cards is actually my Sears card, so I use it when appliances die, to take advantage of those 0 interest deals that last for a year. I know I am going to replace refrigerator and stove sometime this year, so want to be ready.

My goal is to get them zeroed out by the end of the year, and it looks very doable.

[IronLionZion]

39. MC and am royally pissed at my bank

motherfuckers

I always pay my bill off in full. ALWAYS!!! But they found a way to swindle me.

They fucked something up and canceled my credit card for some reason. I called them and they fixed it, but didn't send me a bill for that month. Now they send me a bill for this month with a hefty finance charge for missing a payment? I called them about it and they want me to pay for their mistake. Thank God, I'll be done with school this spring and I can close my account and card with this bank. It's HSBC if you're interested.

I can't cancel it now because I need it. I buy stuff online.

[intrepid_wanderer]

40. real need OR American need?? n/t

[IronLionZion]

42. real need

I have no other way to make online purchases or donate to Democratic causes. and without a car, it's tough to go to bricks and mortar stores that aren't nearby or near a bus route.

[Wcross]

51. Visa Debit cards work just as well.

Unless you NEED to borrow the money.

[seabeyond]

41. 1....pay off end of month, airline miles

i use it for everything..........i dont hardly write checks anymore

on edit: i got in trouble with one credit card in mid twenties. didnt use again for a decade til i could do without paying interest

2nd edit: we just bought a wide flat screen tv with miles from sears. was the coolest

[njdemocrat106]

43. 5

JCPenney, Capital One Mastercard, ESPN Mastercard by MBNA, Discover, and American Express Blue. I was offered the JCPenney and Capital One before I even turned 18 (it was a special program designed to teach kids how to wisely use credit). My ESPN Mastercard was a Visa until a few months ago (I don't know why it switched).

[mr blur]

44. None

Never have had any. If we can't afford something we don't get it.

[MissMillie]

46. None

I haven't used a credit card in more than 2 years.

[hfojvt]

47. five and thanks for reminding me

I need to make some payments.

[flamingyouth]

48. One Alaska Airlines Visa

I don't use it all that much - mostly for larger purchases. I love getting the air miles that I can use on many different carriers, especially now that I'm in a long distance relationship, at least for the next year or so.

[fit4life]

49. None.

Never had one, never will. I don't really like banks either, or the way your work tries to force you to have direct deposit. My left front pocket is the safest place for my money, and that's where I keep it. I don't have to pay anyone to get to it, and while I've been to places that don't take credit cards or checks, but they always take cash!

[DinahMoeHum]

50. Only one (Visa) and I pay in full and on time every month. . .

I get a cash rebate at the end of the year. The card is tied in with REI Recreational Equipment, Inc.

BTW, according to a recent Frontline special on PBS, the credit card industry calls someone like me a DEADBEAT. Just goes to show how topsy-turvy their world is.


:evilfrown:

[Montresor]

52. Same

I this is usually used for work related functions, otherwise its debit.