Comments on: How Credit Cards Can be Used for Budgeting.

By: Rhys

Rhys — Fri, 30 Apr 2010 10:03:18 +0000

I think credit cards are great, as long as you pay them off monthly and avoid credit charges. You can extend you cash flow up to 45 days, earn reward points and if you shop around, not pay any fees!!

If you need any help with your budgeting, check out my website: http://www.easy-budgeting.com.

Cheers
Rhys

By: Alec

Alec — Fri, 26 Feb 2010 04:09:51 +0000

I definitely agree that credit cards can be used for budgeting. With that said, I think above all, being responsible is the key to playing it safe and rewarding from credit card use.

It’s so simple but it’s the reason why so many people are in credit card debt.
Alec´s last blog ..What Exactly Are Mid Calf Boots?

By: Craig

Craig — Wed, 03 Feb 2010 19:29:26 +0000

@Austin I agree, it’s very easy to track, but with PF tools (like BudgetPulse) it makes it easy to track cash as well. All depends on the person and their comfort level. I agree I would rather have the rewards, that’s why I just signed up for the AMEX gold card. May take awhile for any significant points to come in, but I’m not in a rush.

By: Craig

Craig — Wed, 03 Feb 2010 19:28:03 +0000

@Daddy Paul I agree, I use and track it the same way I do with cash, except can get some benefits from it.

By: Daddy Paul

Daddy Paul — Wed, 03 Feb 2010 00:58:02 +0000

If you can picture using the credit card the same as cash it can be a wonderful tool. The problem is many people cannot.

By: Austin

Austin — Tue, 02 Feb 2010 00:53:17 +0000

I love credit cards for the ease. I’m in Japan right now and they’re a cash country which makes things so much more difficult than they need to be. I miss whipping out the card and being able to track all the purchases later at home.

I know there’s a lot of research that says you spend more when you use credit, but for me it’s the way to go. And the $1000 you made from rewards has to negate the costs of increased spending a bit.

Good post.

-Austin @ Foreigner’s Finances

By: Craig

Craig — Mon, 01 Feb 2010 21:46:19 +0000

@Thomas You are right, that could help out, especially if there are rewards involved.

By: Thomas

Thomas — Mon, 01 Feb 2010 14:38:17 +0000

If you intend to settle your outstanding in full each month, it would be prudent to get a charge card instead of credit card.

Thomas of http://www.cardexpert.org

By: Craig

Craig — Thu, 28 Jan 2010 19:32:04 +0000

@RJ Agree, as long as you can pay off in full each month, I have no problem using my credit card for everything. I also get point rewards so try to use my credit card when I can.

By: RJ Weiss

RJ Weiss — Thu, 28 Jan 2010 18:33:46 +0000

The key is to make sure you pay off your card each month. I to use a credit card for every purchase I’m able. This allows me to keep easier records for my budget because everything is electronic.
RJ Weiss´s last blog ..The Ridicously Long List of Ways to Go Green to Save Money