Cash. Always. If at all possible, don't ever use credit cards. If you don't like to carry cash, then use the DEBIT card from your checking account, but don't go into debt with credit cards. It is entirely possible to function without credit cards at all. Credit cards ending up costing you more than the item did in the first place because you pay interest on the balance you carry. If you are one of the few who pay their credit cards in full every month, that is good, but studies have shown that people will spend up to 10% MORE when they use credit cards instead of cash.
Neither, use the PerkStreet debit card.
Seriously, though, ask yourself this: Do you currently carry any credit card debt? If you do, the answer is cash.
Otherwise, you can do what I do and use a rewards credit card. The requirement is that you must pay it in full each month (most banks even allow you to automatically pay it off on each due date.)
The cash back is why I prefer credit cards, though some people will appreciate the boost to their credit score by responsibly managing credit.
If you use a credit card, never use it for more than you can pay off in one payment. If at any time you receive a bill and cannot pay the balance off in one payment--destroy the card immediately.
Credit cards are like playing at gambling and can be addictive. Use cash if at all possible and if not, then rethink the purchase.
We had large credit card balances and I went to work and paid off every card and have not used them since. Debt free feels much better than owning a lot of junk one never uses.
There is no right or wrong, it depends on your personality type. If you can use credit cards responsibility and pay in full every month, then credit cards can be better.
If you will use a credit card to make impulse purchases, than maybe cash it better for you.
by Davinagirl3 12 years ago
My husband and I are looking to buy a house in the upcoming year. We have run into some trouble looking for a lender because our credit is, for lack of a better term, crap! I am looking for ideas on how to raise our scores. We pay our bills on time, so that isn't the...
by Gous Ahmed 12 years ago
If you pay off credit cards by getting a loan out, aren't you in the same position still?Maybe a loan won't have interest increase like credit cards, but what is the best way to get out of this situation for good?
by Cliff Beaver 11 years ago
What is the best way to pay off credit card debt?I don't personally have any major credit card debt, and the debt that I do have is under control. However, I know some people who have let their credit cards get out of hand and I'm sure there are people searching for ways to pay it off. So I ask...
by Rebecca Graf 13 years ago
What questions would you like to see answered about credit card debt?
by Gary Anderson 13 years ago
I just wrote a hub on this, but what I want is to have a discussion here. This is the issue: the senate voted on 5/19 to forbid the states from setting caps on interest rates for credit cards. The injustice of this is that the state in which the credit cards are issued, namely South Dakota and...
by sandra rinck 14 years ago
Let me start off with roolllff! Everytime I look at a bill I get sick, everytime I need to bust out a credit card just to make it to the next month I wanna puke. Trying to get along in a busting economy is making me sick. I do need advise, good advise in a couple of areas,...
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