Tuesday, June 17, 2008

Credit Card Advice

Check this link by Seth Godin.

This is sane financial advice. But I wonder why, people either use credit cards to the hilt or abstain from it completely.

What kills people with credit card debt are the finance charges and, whenever it happens, late charges. But if we can use the 'grace period' and pay off the entire balance before the due date - credit cards degenerate to a 'cash substitute' and a convenience mechanism.

I feel using cards this way is ok. But it is true that cards make you spend more! biggrin

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