We hear both sides of the argument all the time here at Wise Bread. Assuming that you think credit cards can be used responsibly, how would it be done? And for those who think credit cards are evil, why do you think so, and what do you use instead?
Credit cards are not one-size-fits all, and either is the average consumer. We'd love to hear your stories of credit card use: what you think, what you’ve learned, what you wish others could know. Do you have special rules for using credit cards responsibly? Would you swear them off completely if you could?
Share your thoughts on this provocative question, and be entered to win one of two $10 Amazon gift certificates. The randomly-selected, winning answers will be read live on Wednesday’s Living Large on a Small Budget Blog Talk Radio Show (where we will be discussing starting a small business with Season 4 Apprentice Winner Randal Pinkett)!
Those of you who aren’t familiar with the “drill,” read below for full details:
Win a $10 Amazon Gift Certificate
We're doing two giveaways -- one $10 Amazon gift certificate for a random comment, and another one for a random tweet.
How to Enter:
- Post your answer in the comments below, or
- Tweet your answer. Include "@wisebread" in your tweet so we'll see it and count it.
If you're inspired to write a whole blog post, please link to it in the comments or tweet it.
At the end of the drawing, we'll update this post to include (and link to) all of your helpful responses.
- Contest ends Wednesday, June 10th at 7:59pm CST. Winners will be announced June 10th between 8:00 – 9:00 pm CST during our live Blog Talk Radio broadcast, and will be contacted at the conclusion of the broadcast (or you can call in live to claim your prize!)
- You can enter both drawings -- once by leaving a comment and once by tweeting.
- Only tweets with "@wisebread" will be entered. (Otherwise, we won't see it.)
For additional reading on both sides, see these articles:
Top Seven Reasons Why I use My Credit Card for Everything
10 Reasons Why I Prefer Credit Cards Over Cash
The Dirty Secrets of Credit Cards
Cash Vs. Credit? Which Side Are You On? (ManVsDebt via BargainBabe)
***We have our winners! Congrats to these winning entries! (Your prize is on the way!)
@The_Weakonomist 55% of credit card users carry a balance, 45% do not. So yes credit cards can be used responsibly http://bit.ly/9NIdl
Comment #70 - Credit Card Trade Offs, Submitted by Jim
The concept of credit card abuse is actually pretty simple: we tend to spend what we have.
Give someone a $1,000 tax refund and they will immediately find something to buy for $1,000.
Instead, why not write down what you want, starting with food and a place to live. Adjust your spending to your income and available resources.
This way you get what you really want and not something that you just buy because you have the money.