Credit card for 'emergencies', HAH!

iVillage Member
Registered: 03-31-2003
Credit card for 'emergencies', HAH!
11
Tue, 03-22-2005 - 1:53pm

I love Jerrold Mundis' book 'How to get out of debt, stay out of debt, and live prosperously'. He talks about all kinds of ways to live without a credit card. One of the war-cries of those in denial is, "I need a credit card to rent a car". Well, no I don't!

The last time I rented a car a few months ago, they did a quick credit check on me, and held $250 from my debit card, which was credited when I returned the car.

This time, using the same car rental agency (Enterprise), I called ahead to tell her that I only have a debit card and not a credit card, and she said as long as I show a return itinerary, I can use a debit card.

Eureka!! I'm free of credit cards!!!!

Lee Ann

Lee Ann

www.werenotafraid.com

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iVillage Member
Registered: 03-26-2003
Tue, 03-22-2005 - 2:31pm

Good for you! I hate credit cards. I have decided that I will look at the statement in a totally different way. I use to look for Available Credit - my sick, twisted thinking would interpert that as saying "how much I can spend." I have chosen to no longer look for that but look for the balance due instead - my new healthy thinking says "only $X.XX to pay off and cut up this card and close this account!" May the healthy thoughts and actions continue.

Christie

iVillage Member
Registered: 03-30-2003
Tue, 03-22-2005 - 2:42pm

I have to respectfully disagree. From my perspective, the CC can be used as a floater. You have so many days until you have to pay in full but in the meantime, your money can be accruing in a savings account for 3.25% (emigrantdirect.com). Granted it'll be a few pennies but hey, that's money. BTW, I don't hold any stocks in emigrant but they're the most high paying savings account out there.

As long as you pay your balances due at the end of month, you're fine. The CC can be used as extra insurance on your car rental or travel in case you get into an accident.

In addition, if you get those credit cards that pay you back a cash rebate, why not use it for things you're going to purchase anyway? For example, I use my citicard to pay for groceries, gas, and pharmacy and get 5% back. These are things I need and would have paid cash anyway. Why not get a few bucks back. So far, this card has given me more than 300 back since I opened it. Money I would have paid cash. This 300 is applied to my water bill, electric bill, etc.

If used correctly, the CC can be a good tool to have. Not to mention building credit when you need to buy a car or home.

I understand what may work for one person may not work for another but I respect that. But for me, I've learned this method works for me. I buy things that hubby and I need. Once in a while we'll buy something we want. Can't be deprived or you'll end up hating life. We pay EVERYTHING on our credit cards. We rarely pay anything in cash anymore unless the merchant only accepts cash. Our mortgage is paid via our checking account. Too bad they don't take credit cards.

Who am I? A devoted wife who now takes care of her husband. Husband is fighting brain cancer and no longer works. So we're on one income. Its hard. We have no credit card debt. We pay our CC off each month. No student loans. House mortgage. Taking each day one at a time.

all my best

CR




Edited 3/22/2005 3:51 pm ET ET by coldreality
iVillage Member
Registered: 03-26-2003
Tue, 03-22-2005 - 4:02pm

I agree that credit cards can be wonderful, useful tools - but only if they are used responsibly. Both Weddingdance and myself have had problems with compulsive spending and credit card debt. Weddingdance has made GREAT strides over the past couple of years to eliminate debt and get control of her spending. One of her ways was to stop using credit cards. Weddingdance Rocks!

You use credit cards correctly and responsibly. I admire you for that. You not only use them correctly but you benefit from using them correctly. I am hoping to one day achieve that myself. But for now, I must regard credit cards as evil entities. Thanks for your input and I am so sorry to read about her DH's health. How tragic.

My best to you and yours,
Christie

Avatar for cl_phocid
iVillage Member
Registered: 03-26-2003
Tue, 03-22-2005 - 11:00pm

Many of us here on the Debt Support Group are here because we or our significant others have not been able to use credit cards responsibly in the past.

All my best,
Danni

iVillage Member
Registered: 02-25-2004
Wed, 03-23-2005 - 10:47am

Lee Ann good for you for staying one step ahead of yourself and for calling ahead. Sometimes that's all it takes from keeping ourselves out of trouble.

To the poster who's responsible and has found a way to make cards work for her and not against her, way to go!

Here's is to all of us being in the driver's seat with our CC's regardless of how their being used - hip hip hooray :P

:)

iVillage Member
Registered: 03-30-2003
Wed, 03-23-2005 - 10:50am

I am sincerely sorry if my post came across as unfriendly. I just wanted to share how I "played" the credit card game to my advangage as a consumer. I understand all of you are working very hard to get rid of debt. I've certainly learned a lot by reading historical posts. Again, I apologize.

My best.

iVillage Member
Registered: 05-19-2004
Wed, 03-23-2005 - 1:14pm

That's great Wedding Dance! Do you guys get pressed for your cc at the movie rental stores too? Every so often they have to do an update on my account and want a cc~~ would the debit card work in that case? Although, I really don't want them to have access to my bank account! One time I didn't have a cc on me and they wouldn't let me rent the movie. He said he only needed it for a form of ID......so I offered him my library card! Needless to say, he wouldn't take it and wasn't happy with me! I know he fibbed about "form of ID" because they will charge your cc if you don't return the movies. So what do you do if you don't own a cc and want to rent a movie?

In response to the poster who uses cc to earn money~~~ kudos to you!I did not find your post "unfriendly." I have always wanted to do that and considered charging everything for a few months to get the points for our Disney trip. I decided against it because I am very obsessed with my debt. DH and I have only $105 left to send in to our only cc, down from $5800 in Sept. We worked so hard to do so. Everyone on this board works hard and the support here is the best!!

I am so afraid any monthly charges DH and I made would not get paid off each month. I think the stress would be too much for me, just like a lot of us here that have been working at it for so long. I don't even want to temp myself!
You have great restraint and I applaud you. Hugs to you and your DH.
~Nicki

iVillage Member
Registered: 02-25-2004
Wed, 03-23-2005 - 1:46pm
I also don't think your post came across as "unfriendly". I think you show remarkable restraint and have indeed found a way to make it work for you. I applaud you! Keep up your progress :)
iVillage Member
Registered: 07-10-2001
Wed, 03-23-2005 - 2:30pm
Well, don't try that in California or Arizona....the last time I did, the put a $2000 hold in California. $1500 in Arizona if at the airport.
iVillage Member
Registered: 02-19-2004
Thu, 03-24-2005 - 11:07am
Hi tbone. Nice to see you here :)

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