Credit Cards - Intrest, Fees, and Bullshit

[Ryan T]

Maybe it's just me, but I don't care for credit cards. The only time I use them is when they are 0%. I got a 0% for 18 month card to pay for the wedding, paid it off before the interest free time came due. Then cancel the card. If I have another big purchase I want to make (like a gun safe soon) I'll get another 0% interest for 12 or 15 months, buy the safe, pay it off, and cancel it. For everything else I just use a debit card.

i've had the same cards for about a decade and don't carry any real balance, so I'm curious - does this tactic affect your credit score? because it sounds like a pretty sweet idea.

It certaintly doesn't hurt your credit. This allows me to carry a balance on a card (something lenders like to see) and also keeps me from ever having to pay interest. I've used this tactic for a couple years now and always paid it off before it was due. My credit has always stayed somewhere around the ~775 mark and we had no trouble getting the loan for our house, so I guess it works. I've always kept enough in the bank to pay off the 0% cards if I need to or something happens, but I'd rather pay no interest and keep that extra cash in the bank as a safety net.