Wednesday, July 10, 2013

Question of the Day

Paper or plastic?  No, not that kind…

How many credit cards do you have?

I was reviewing my annual credit report (the real free one, not the “free” one advertised on TV with the annoying ads) and I was amazed at how many cards I’ve had in my life.  Fortunately most of them are closed and cut up, and I’m down to just two.

12 barks and woofs on “Question of the Day

    • Check cards don’t count: banks are issuing those for any consumer account these days unless demanded otherwise (and just try saying “no” to them).

  1. Three in use today, I don’t know how many I’ve had over the years. One card is for emergency (Plane Ticket, Major Car Work, etc), one is from a home improvement place that gives my 12 months no interest, and the last one is a store card. I do not pay interest on any of ‘em, since I pay them off ASAP (except for the home improvement one, since I do have the 12 month grace period – but I still try to pay that one off quickly too).

  2. I take the Fifth on this . . . Fifth/Third actually which is the name of my bank and I carry their “major” card. I also have an AMEX card which has no limit and which I pay before the due date so there’s no interest. Citicards won’t leave us alone and I can see how people get into big trouble. I shred every letter that comes from them offering – well you know, FREE! stuff.

  3. So far as I know, I have one active card for some work I had done on my 15 yr. old Dodge pick-up. I just paid off my long running card of over 20 yrs. It is not active. I use a debit card or pay cash. Making reservations on the debit card in Houston today;going back to the cancer hospital tomorrow.

  4. Four: Amex, a personal and a business card, and a Nordstrom card that someone I love won’t let go. Every one paid in full each month.

    • Uh oh – I forgot about Dillards and Macy’s. But it’s been a long time since I used either. It’s almost like paying cash because when the bill comes in the check goes in the mail. I’m being a gooooood girl.

  5. Zero. Ten years’ worth of semi-employment took care of my ability to manage balances, so I closed everything I had. Max I was carrying was four: Barclays (UK) Visa, Citi MC, Sears (a REALLY hard card to get when I first opened the account) and Emporium.

  6. Paid off and closed all of them over the past couple of years. When you’re on a fixed income, paying interest isn’t in one’s best interest. My bank debit card works for all purchases and there’s no interest, of course.

  7. Two ex-wives and five years of unemployment….

    Yup, zero. Not even a debit card (try getting one strictly for ATM use, Boatboy).

    Finally broke down and got a prepaid Visa with $500 on it for dire emergencies. Monthly fees suck, but I just add enough to keep it at $500. Put an occasional tank of gas on it.

    • The good old-fashioned ATM card has gone the way of the dodo. But having a Visa/MC-backed bank card that’s NOT a credit card isn’t the same thing as having a Visa/MC.

      And yes, I’ve tried that too – no dice.

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