Fashion

[kitty60]

I think if you have good credit it really doesn't matter. We have excellent credit, use credit cards and pay everything in full each and every month. I have weeded out those store cards I do not use and cancelled with no ill effect. We have a few we use on a regular basis as I do not like to carry cash and lose track of what I've spent. I keep a tally of what we spend and match all the slips when I get the statement. Also, I do not like using a debit card because I do not want my account wiped out, (this happened to my son over labor day because of the Home Depot problem.) You do get it back but it is a hassle. I only use my debit card at Aldi's as they do not take credit cards. I went to my bank and had my daily limit on debit card reduced to $100. I know I will never spend more than that there and if I got hit for $100 I could survive until the matter was corrected.

[Chrystaltree2]

On 1/2/2015 kitty60 said:

I think if you have good credit it really doesn't matter. We have excellent credit, use credit cards and pay everything in full each and every month. I have weeded out those store cards I do not use and cancelled with no ill effect. We have a few we use on a regular basis as I do not like to carry cash and lose track of what I've spent. I keep a tally of what we spend and match all the slips when I get the statement. Also, I do not like using a debit card because I do not want my account wiped out, (this happened to my son over labor day because of the Home Depot problem.) You do get it back but it is a hassle. I only use my debit card at Aldi's as they do not take credit cards. I went to my bank and had my daily limit on debit card reduced to $100. I know I will never spend more than that there and if I got hit for $100 I could survive until the matter was corrected.

.....my debit cards are not linked to my checking/savings accounts. I made that mistake once, I'll never do it again. I used my debit card to pay for our hotel when we were on vacation and they put a 5 day hold on the entire balance! My vacation would have been ruined had I not been with a friend who had credit cards with her.

[Lipstickdiva]

On 1/2/2015 Chrystaltree said:

On 1/2/2015 kitty60 said:

I think if you have good credit it really doesn't matter. We have excellent credit, use credit cards and pay everything in full each and every month. I have weeded out those store cards I do not use and cancelled with no ill effect. We have a few we use on a regular basis as I do not like to carry cash and lose track of what I've spent. I keep a tally of what we spend and match all the slips when I get the statement. Also, I do not like using a debit card because I do not want my account wiped out, (this happened to my son over labor day because of the Home Depot problem.) You do get it back but it is a hassle. I only use my debit card at Aldi's as they do not take credit cards. I went to my bank and had my daily limit on debit card reduced to $100. I know I will never spend more than that there and if I got hit for $100 I could survive until the matter was corrected.

.....my debit cards are not linked to my checking/savings accounts. I made that mistake once, I'll never do it again. I used my debit card to pay for our hotel when we were on vacation and they put a 5 day hold on the entire balance! My vacation would have been ruined had I not been with a friend who had credit cards with her.

What are they linked to? The money has to be pulled from somewhere.

[LTT1]

Your posts reminded me!!! The other reason we use a cc is that you are covered in case of theft!

[Trudey]

Recently my credit score dropped and I couldn't understand why. After reading these posts, I think it may have been due to a lump sum payment that I made on my mortgage. I did a recast of my mortgage and lowered my monthly payment 50% by paying a large lump sum. You would think this would improve my credit rating, but evidently it dropped it since nothing else changed. If that truly is the reason, it's stupid. Don't we all want to be debt free at some point? Shouldn't we be rewarded for it?

[lulu2]

We have only 2 active credit cards, so yes we've closed accounts. We have no mortgage payments and pay our accounts in full every month. Recently I purchased a new car and was pleasantly surprised when they gave me my FICO score as I have not worked in many years. Based on my score I would say those closed accounts had no effect on my credit.

[magicmoodz]

On 1/2/2015 Chrystaltree said:

On 1/2/2015 kitty60 said:

I think if you have good credit it really doesn't matter. We have excellent credit, use credit cards and pay everything in full each and every month. I have weeded out those store cards I do not use and cancelled with no ill effect. We have a few we use on a regular basis as I do not like to carry cash and lose track of what I've spent. I keep a tally of what we spend and match all the slips when I get the statement. Also, I do not like using a debit card because I do not want my account wiped out, (this happened to my son over labor day because of the Home Depot problem.) You do get it back but it is a hassle. I only use my debit card at Aldi's as they do not take credit cards. I went to my bank and had my daily limit on debit card reduced to $100. I know I will never spend more than that there and if I got hit for $100 I could survive until the matter was corrected.

.....my debit cards are not linked to my checking/savings accounts. I made that mistake once, I'll never do it again. I used my debit card to pay for our hotel when we were on vacation and they put a 5 day hold on the entire balance! My vacation would have been ruined had I not been with a friend who had credit cards with her.

Color me confused. What is your debit card linked to? When you use it, where is the money taken from?

[magicmoodz]

This thread is a reminder of another goal for 2015. Ashamedly, I have so many, many credit cards, and really only use one. I need to order a credit report to see exactly what I have and what I should cancel.

[Justina rae]

Anyone, can you get your free FICO score on-line by putting in your SS#? And is that safe??

[Lipstickdiva]

On 1/2/2015 magicmoodz said:

On 1/2/2015 Chrystaltree said:

On 1/2/2015 kitty60 said:

I think if you have good credit it really doesn't matter. We have excellent credit, use credit cards and pay everything in full each and every month. I have weeded out those store cards I do not use and cancelled with no ill effect. We have a few we use on a regular basis as I do not like to carry cash and lose track of what I've spent. I keep a tally of what we spend and match all the slips when I get the statement. Also, I do not like using a debit card because I do not want my account wiped out, (this happened to my son over labor day because of the Home Depot problem.) You do get it back but it is a hassle. I only use my debit card at Aldi's as they do not take credit cards. I went to my bank and had my daily limit on debit card reduced to $100. I know I will never spend more than that there and if I got hit for $100 I could survive until the matter was corrected.

.....my debit cards are not linked to my checking/savings accounts. I made that mistake once, I'll never do it again. I used my debit card to pay for our hotel when we were on vacation and they put a 5 day hold on the entire balance! My vacation would have been ruined had I not been with a friend who had credit cards with her.

Color me confused. What is your debit card linked to? When you use it, where is the money taken from?

I asked the same thing above. I'm confused too.