Good tips for managing credit card debt...

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http://finance.yahoo.com/news/first-...155000172.html

[WilliamC]

Better tip, don't use credit cards.

Pay cash instead.

[MRoCkEd]

Better tip, don't use credit cards.

Pay cash instead.

Just don't charge what you could not afford to buy outright. Pay off your entire balance on time. Do this and you will build credit and get cash back and other rewards.

[WilliamC]

Just don't charge what you could not afford to buy outright. Pay off your entire balance on time. Do this and you will build credit and get cash back and other rewards.

Have fun when they 'accidentally' forget to post your payment until after the due date, then charge you penalties and fee's and forever jack up your interest rate which causes all your other interest rates to get jacked up.

I'd rather just pay cash and forget about it myself.

Now if I could just figure out how to make money off of other peoples credit use, why then I could be a banker too!

[harikaried]

Now if I could just figure out how to make money off of other peoples credit use, why then I could be a banker too!

I pay off my credit card balance a couple weeks before it's due, and I get rewards like 5% cash back on various purchases. But don't really expect the returns of a banker though.. In 2011, I got $650 cash back.

[Raw Liver]

Can you say, "duh?"

[Zippyjuan]

Just don't charge what you could not afford to buy outright. Pay off your entire balance on time. Do this and you will build credit and get cash back and other rewards.

This.

[Zippyjuan]

I pay off my credit card balance a couple weeks before it's due, and I get rewards like 5% cash back on various purchases. But don't really expect the returns of a banker though.. In 2011, I got $650 cash back.

Charged about $13,000 a year, eh (assuming 5% back on everything)?

[WilliamC]

I pay off my credit card balance a couple weeks before it's due, and I get rewards like 5% cash back on various purchases. But don't really expect the returns of a banker though.. In 2011, I got $650 cash back.

Oh it can theoretically be done and there are a few who are able to resist the temptation to overspend so that they get some benefit out of them, but if everyone thought like you did why I bet those cash back rewards would be rescinded pretty quick.

Even still, there is something about having to whip out enough cash to cover whatever it is you are buying that, for me at least, makes me think twice on whether or not I actually need said purchase.

Credit seems to facilitate impulse purchases for most people, and it's sort of obvious that a majority of commercial credit users don't follow your strategy.

[Czolgosz]

If you like the convenience of plastic, get a debit card. Clearly credit is a more addictive drug than alcohol, cigarettes, and weed.