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bkw said: I notch up a few thousand a month but pay it off in full in the 55 day interest free period.
Okay, first Charlotte mentioned it, and now this is the second time I've read a reference to it... credit cards in Australia have a 55-day grace period?  I believe the industry standard in the U.S. has fallen to a mere 20 days.Please note: effective March 21, 2010, I've stepped down from my prince.org Moderator position. |
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moderatorOddly, Matt knows more about my financial situation than anyone else here. Oh shit, my hat done fell off | |
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matt said: bkw said: I notch up a few thousand a month but pay it off in full in the 55 day interest free period.
Okay, first Charlotte mentioned it, and now this is the second time I've read a reference to it... credit cards in Australia have a 55-day grace period? I believe the industry standard in the U.S. has fallen to a mere 20 days.UK grace period is about the same, 50 odd days. Also, some cards will give you cash-back on what you spend, up to approx 2% for high spenders! So, if you ensure you pay off fully each month, you can actually make money!  | |
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matt said: bkw said: I notch up a few thousand a month but pay it off in full in the 55 day interest free period.
Okay, first Charlotte mentioned it, and now this is the second time I've read a reference to it... credit cards in Australia have a 55-day grace period? I believe the industry standard in the U.S. has fallen to a mere 20 days.Yeah, cool, huh? The States' system is set up, I believe, for as many people as possible to be in debt. | |
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About $300 Ὅσον ζῇς φαίνου
μηδὲν ὅλως σὺ λυποῦ πρὸς ὀλίγον ἐστὶ τὸ ζῆν τὸ τέλος ὁ χρόνος ἀπαιτεῖ.” | |
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ThreadBare said: Yeah, cool, huh?
Cool indeed. Wish I could borrow money interest-free for 55+ days and get some kind of "kickback" (e.g., cash back or frequent-flyer miles) as well. Do these cards have an annual fee? Many of the businesses that send me bills give customers so little time to pay that I usually just pay all bills as soon as they arrive. AT&T Wireless (before Cingular bought them) was the worst... they'd actually sent out bills that had "Upon Receipt" printed after "Payment Due." Please note: effective March 21, 2010, I've stepped down from my prince.org Moderator position. |
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About $2500. But I'm paying it off slowly, diligently and the interest rate is very low. My student loans are another matter.  | |
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theAudience said: $0.00
Pay it off religiously every month. tA 
my only debt, in fact, is my house and it's not much... we're pretty frugal around here. | |
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the card ive got is maxed out $1,000 dollars. 55 day interest free though: melbourne, australia
try to pay more than the min but these past 3 months been payin the min, gotta find a position with money$$$$$. all the positions ive got so far r 4 free. Am looking and applying.....someday. | |
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missmad said: the card ive got is maxed out $1,000 dollars. 55 day interest free though: melbourne, australia
try to pay more than the min but these past 3 months been payin the min, gotta find a position with money$$$$$. all the positions ive got so far r 4 free. Am looking and applying.....someday. What do you do Missmad? Why are they all voluntary? Good luck!  | |
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i don't use credit cards anymore. cash only. i've been in quite a lot of debt in the past, and it's a lonely, dark place to be. | |
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cubic61052 said: badujunkie said: Are you cash and carry? In the past 3 weeks my car got hit on the street, my computer broke, my iPod died and I dropped my cell phone and cracked the screen. A grand on the MasterCard, easy.
Zero, Zed, Nada..... I use Amex Gold and pay it off every month.... That is the glory of being older, wiser and having spent and invested money appropriately early on....hint-hint to you younger people.  As an employee of Amex I would like to thank you for your support! Between the wife and I we have about $17k in debt, other than the cars and the house. That should be paid off in a year or so. With the benefits you get by using a credit card (especially Amex) it is really dumb to pay in cash now. If it breaks, gets lost or stolen you have protections, while if you paid cash you're just SOL. A word to the wise...manage your debt and know your cards' benefits so you can have your cards work FOR you. | |
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Tootall4yall said: cubic61052 said: Zero, Zed, Nada..... I use Amex Gold and pay it off every month.... That is the glory of being older, wiser and having spent and invested money appropriately early on....hint-hint to you younger people. As an employee of Amex I would like to thank you for your support! Between the wife and I we have about $17k in debt, other than the cars and the house. That should be paid off in a year or so. With the benefits you get by using a credit card (especially Amex) it is really dumb to pay in cash now. If it breaks, gets lost or stolen you have protections, while if you paid cash you're just SOL. A word to the wise...manage your debt and know your cards' benefits so you can have your cards work FOR you. It's not dumb at all. It just depends on the financial scenario you find yourself in, and the type of spender you are. For some, it may be far better than cards. Many people spend less when they restrict themselves to cash, for many factors: for a start, it takes more effort to go to the hole in the wall and actually get the stuff out the bank. It's also far easier to keep a check on how much is being spent / stick to a budget. If someone is trying to spend less and has a history with overspending on cards, I would advise them to stick to cash-only purchases in an instant. I may even go as far as to say that they would be dumb to do otherwise.  | |
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We don't carry cash, and we put all of our gas/groceries/ect on credit, then pay it off every month. | |
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Ugh, about 4 grand. Not good!!! | |
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Omadon said: Tootall4yall said: As an employee of Amex I would like to thank you for your support! Between the wife and I we have about $17k in debt, other than the cars and the house. That should be paid off in a year or so. With the benefits you get by using a credit card (especially Amex) it is really dumb to pay in cash now. If it breaks, gets lost or stolen you have protections, while if you paid cash you're just SOL. A word to the wise...manage your debt and know your cards' benefits so you can have your cards work FOR you. It's not dumb at all. It just depends on the financial scenario you find yourself in, and the type of spender you are. For some, it may be far better than cards. Many people spend less when they restrict themselves to cash, for many factors: for a start, it takes more effort to go to the hole in the wall and actually get the stuff out the bank. It's also far easier to keep a check on how much is being spent / stick to a budget. If someone is trying to spend less and has a history with overspending on cards, I would advise them to stick to cash-only purchases in an instant. I may even go as far as to say that they would be dumb to do otherwise. One far off joyous day, I plan to deal only in cash, or debit cards at least. I want no more debt! Even though I could spend only what i could afford on cards and easily pay it off every month, its just not worth the hassle if you have the cash  | |
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