If You're Going to Have a Credit Card

Just for the record - I think credit cards can be very dangerous. I'm sure I'm not the only one. I think I've mentioned before that our daughter, Beth doesn't ever want to have a credit card. I think that's a very healthy attitude, and I hope she sticks to it. Not necessarily never having one, because it doesn't seem possible to live in today's society without at least one, but at least I hope she keeps the attitude that being in debt is a bad thing. The problem is that most of us start out young, and the credit card companies are more than happy to give us as much credit as possible - and we're not smart enough not to use it use it use it. Suddenly one morning, we wake up and we're so deep in debt that we don't think we'll ever make it out. Best not to get into that situation in the first place, and I hope my kids never do.

My anti-credit rant aside, I do think it's important to have at least one credit card. You can't rent a car or stay in a hotel without one, to name a couple reasons. Just having a credit card does not mean the credit card companies get to control you, unless you choose to let them. I strongly believe in using those credit cards to my benefit. If I can get a good balance transfer fee of say, 0%, I have been known to take advantage of that. Right now we don't have any balances to transfer, so the credit card I'm going to use is the one that gives me the best reward. I have been using Discover for most things, but I'm currently switching over to my Chase card because they gave me better rewards. On Credit Rate, my Chase card is currently listed at the top of the page as the best card overall. That makes me feel pretty good, but if someone has different needs than I do, then another card might be a better one for them. You can search for cards based on interest rate, rewards, or even on how good your credit rating is, and then apply right there online. I like that better than all the junk mail I get, constantly offering me new credit cards. Not that being able to search credit card offers online is going to stop the junk mail.

There is also a lot of helpful information on this site such as a guide to balance transfers, and information on getting out of credit card debt - things that, when applied properly, can help to keep credit cards from being so dangerous.