http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=51320
>You can use them to scrape the frost off your windshield in winter …
True the best use for them.
>No, there’s NEVER a good reason to hold a credit card! Get a debit card. You can use it for virtually anything a credit card
>will do like get a hotel room, buy stuff online or rent a car almost anywhere. A few rental car companies do have pretty silly
>requirements for debit card use or only accept them in certain parts of the country, but those guys are too expensive, anyway!
Now don’t get me wrong, I am not a fan of credit cards. They are the “crack cocaine” equivalent for the financially naive.
BUT I do think they have a place and use.
FIRST, legally, there is a distinct difference between debit and credit cards. You have rights under the various state and federal laws, statutes, regulations, and policies. They treat a credit card differently than a debit card.
SECOND, financially, with DEBIT, you’re money is gone and you are arguing from a position of weakness. With a CREDIT card, the bank’s money is gone and you are arguing from a position of strength about accepting the bank’s opinion.
Not that I want to depend on either to protect me, but, there is anecdotal evidence that it can come in handy.
Assuming that a credit card is Zero Fee AND that it is paid off at the end of month, (you can still get these IF you shop wisely), then you have a tool.
I personally have three such cards. Obviously all zero balance. One I use for household expenses. One I use for computer related expenses corresponding to a budget of 1% of my net for this purpose. One I use for books and learning materials, and such corresponding to a budget of 1% of my net for this purpose.
By using these cards in this way, it makes the accounting simple. BUT, were they to change the terms and charge a fee, over the side they go.
Again, I think you may have underestimated the value of having one no-fee zero-balance card in one’s wallet. A debit card is not as good for the above reasons.
IMHO,
Keep up the good work of bringing sanity back to American money management,
Now, can you convince the gubamint to do the same?
Reinke Faces Life 