Have low interest rate that I argued for. Only got it for emergencys when I traveled abroad.
I use mine as a debt card to raise my credit.

Smart consumers FTW

 

I only have mine for emergencies. It is my first one with a 50,000 dollar limit. They love to give military credit related anything because they know that we are forced to pay it off.

 

my credit card is all I owe right now...given, I bought my computer for school and also just paid for the torsen with it, I've got a lot more money on it than I'd like to admit...I'm hoping to get it back to zero by this fall, when school starts back.

 

The citibank drivers edge card gives 2% back toward the purchase of any car, new or used. I've bought everything with it for about 8 years. I just always pay it off no matter what I have to do, mostly I don't spend it if I don't have it, but I know thats not always possible. Then I get a 0% interest card, like recently, until my wife gets a job. You can't trust them, but you can use them.

 

When my wife and I had our internet business we were $125,000 in debt on 17 credit cards. 9 of them were her's even though she had not worked in 10 years(they give them to anyone). We sold the business and paid them all off.

Now I still use credit cards for everything but NEVER carry a balance. I have a State Farm credit card (1% goes towards your insurance) and a Citibank that pays 5% cash on food/gas/medical up to $300 (this means gas is $0.10 to $0.15 a gal less when I fill up). If you are responsible with them, credit cards are great tools. If you are a dumb *** (like my mother-in-law who bankrupted 2 husbands), you can get burned with them.

BTW, I can tell you that when you pay off $125K in one day your credit rating shoots to the max. A few years later it starts falling off if you don't borrow any more money. I just borrowed $47K from my 401K plan and paid off my house. Now the ONLY person I owe money to is myself. I intend to never borrow another cent for the rest of my life.