The official Get Rich Slowly position on credit cards is: DON’T USE THEM. Credit cards are a trap. They’re designed to make money for banks, not to be convenient for consumers. There’s a reason that credit card companies are making record profits. There’s a reason that banks are eager to offer consumers new credit cards. You have to question anything that a bank is eager to do for you; you can be sure it’s not in your best interest.
Having said that, for a minority of people, credit cards can be a valuable tool. If you never carry a balance, if you never make spontaneous purchases with plastic, if you never pay an annual fee, then there are some great options out there.
Index Credit Cards is a site the catalogs 912 current credit card offers. The site even provides lists of low interest credit cards, cash back credit cards, credit card reward programs, travel and airline credit cards, and gas credit cards.
Index Credit Cards offers lots of other great information, including a credit card rate monitor, tips on how to get a free credit report and how to opt out of credit card offers, and more.
If you must use credit cards, Index Credit Cards is a solid resource.
This article is about Choices, Credit Cards
When my wife and I got married 3 years ago, neither of us had a credit history to speak of (nothing bad against us, but nothing in favor either). We decided to get credit cards to build some credit.
Since then we have been fanatical about never using them as a source of credit. We got the cards through our bank, and about once a week we go and transfer money from our checking account to our CC to pay off whatever we used.
For us at least, it seems to have been working.
We’ve never gone in debt with them, and have never let the credit card tempt us. With self controll, I think they can be a good way to build a good credit rating.
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