Many of you are stuck in an interesting Catch-22: You believe that credit cards lead to over-spending, but you like the protection they provide to your checking account. I believe I have a solution.
For years, I've advocated for credit card use, partly because of the rewards they offer. Lately, I'm starting to second-guess myself. What's your take on this?
Lending Tree recently asked me to write a short piece about why it's not time to throw away your credit cards yet. Here are a few of the points I made.
The commonly accepted thinking in the personal finance community is that you should leave your credit card at home when emergencies arise. In many cases, I beg to differ.
Some advocate that the ideal number of credit cards is zero, and for many people, that's just right. But if you believe that credit cards can be a helpful tool and want to use them, what's the ideal number to have? I think it's two, and they would preferably be different types (Visa, American Express, … Continue reading The Ideal Number of Credit Cards
Gary Foreman takes a close look at mortgage prepayments, and how it can easily be overdone. Keep it simple, people, and make sure you read this post!
Reviewing Living Well with Bad Credit, a source book with ideas on how to deal with bad credit, and how to live your life while you repair it.