Good tips for managing credit card debt...

[heavenlyboy34]

With a credit card you have more recourse if there is a dispute with a vendor you used the card with. With a debit card you may be out of luck.

This^^ When you lose your debit card, you effectively lose the cash in your account to whomever picks it up-just like dropping paper money. Credit card charges can be refuted (though a small fee is normally charged for that service) and the card can easily be cancelled.

[Black Flag]

No- paying interest does not raise your credit score. Paying in full does not hurt you and not paying interest saves you money.

Research confirms Zippy's analysis here!

Thanks for the correction!

[The Freethinker]

What Zippy said. Also, pay in cash if possible. Otherwise, pay every balance in full every month.

Resist the temptation to accumulate balances so you pay off less and you fall under the illusion of building up cash reserves. Your net worth, your actual wealth, is what you own minus what you owe. This was a mistake I made in my younger years and I thought I could simply bounce the balance from one card to another, as I wouldn't pay interest on the first 6-12 months and simply pay it off. This can be a wise and appropriate maneuver in certain cases, but you're paying a balance transfer fee to do this.

Take advantage of rewards/cash back cards - you're getting something for using these banks' cards.

[thoughtomator]

neither a borrower nor lender be

[eduardo89]

Better tip, don't use credit cards.

Pay cash instead.

That's what terrorists do.

Reported.

[WilliamC]

That's what terrorists do.

Reported.

Now we just need a little button that will directly send any offensive post to DHS eh?

The ultimate neg rep!