Comments on: Credit Card Index http://www.getrichslowly.org/blog/2006/04/27/credit-card-index/ Personal finance that makes cents. Common sense advice on topics from high interest savings accounts, frugality, cd rates, money market accounts, mortgage rates, how to get out of debt, money management and more. Sun, 21 Mar 2010 00:00:30 +0000 http://wordpress.org/?v=2.7.1 hourly 1 By: Michael M http://www.getrichslowly.org/blog/2006/04/27/credit-card-index/#comment-6122 Michael M Sat, 26 Aug 2006 19:26:19 +0000 http://www.getrichslowly.org/blog/2006/04/27/credit-card-index/#comment-6122 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. 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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