Comments on: Ten Commandments of Credit Cards http://www.theamateurfinancier.com/blog/ten-commandments-of-credit-cards/ Thoughts on Money, Investing and Life Mon, 15 Mar 2010 16:11:36 -0700 http://wordpress.org/?v=2.8.6 hourly 1 By: Roger http://www.theamateurfinancier.com/blog/ten-commandments-of-credit-cards/#comment-866 Roger Sat, 30 Jan 2010 23:20:21 +0000 http://www.theamateurfinancier.com/blog/?p=1052#comment-866 @Ace of Wealth: Thanks for the compliments. One of the things I always found annoying about most pieces of advice about credit card usage is the assumption that everyone has credit card debt. Most writers seem to believe that until you pick up their books, you don't have the capability of using credit wisely. I thought my list of suggestions should take the opposite view, starting with advice to people who have used their credit well so far and going onto those who had more trouble. @Ace of Wealth: Thanks for the compliments. One of the things I always found annoying about most pieces of advice about credit card usage is the assumption that everyone has credit card debt. Most writers seem to believe that until you pick up their books, you don’t have the capability of using credit wisely. I thought my list of suggestions should take the opposite view, starting with advice to people who have used their credit well so far and going onto those who had more trouble.

]]> By: Ace of Wealth http://www.theamateurfinancier.com/blog/ten-commandments-of-credit-cards/#comment-861 Ace of Wealth Sat, 30 Jan 2010 05:32:47 +0000 http://www.theamateurfinancier.com/blog/?p=1052#comment-861 These are great tips. You acknowledge the important fact that not everyone is in the same place along their credit card journey. .-= Ace of Wealth´s last blog ..<a href="http://feedproxy.google.com/~r/aceofwealth/~3/nggNF7QICE8/" rel="nofollow">Book Review: Automatic Millionaire</a> =-. These are great tips. You acknowledge the important fact that not everyone is in the same place along their credit card journey.
Ace of Wealth´s last blog ..Book Review: Automatic Millionaire My ComLuv Profile

]]> By: Personal Finance News Carnival Volume 10 http://www.theamateurfinancier.com/blog/ten-commandments-of-credit-cards/#comment-525 Personal Finance News Carnival Volume 10 Mon, 16 Nov 2009 19:21:45 +0000 http://www.theamateurfinancier.com/blog/?p=1052#comment-525 [...] Amateur Financier presents Ten Commandments of Credit Cards posted at The Amateur Financier, saying, “Advice on how to use credit cards properly, as well [...] [...] Amateur Financier presents Ten Commandments of Credit Cards posted at The Amateur Financier, saying, “Advice on how to use credit cards properly, as well [...]

]]> By: uberVU - social comments http://www.theamateurfinancier.com/blog/ten-commandments-of-credit-cards/#comment-473 uberVU - social comments Wed, 04 Nov 2009 00:20:18 +0000 http://www.theamateurfinancier.com/blog/?p=1052#comment-473 <strong>Social comments and analytics for this post...</strong> This post was mentioned on Twitter by georgia3187: Ten Commandments of Credit Cards http://bte.tc/qkR #RTW... Social comments and analytics for this post…

This post was mentioned on Twitter by georgia3187: Ten Commandments of Credit Cards http://bte.tc/qkR #RTW…

]]> By: Ping Services | Mortage Refinance Advice http://www.theamateurfinancier.com/blog/ten-commandments-of-credit-cards/#comment-424 Ping Services | Mortage Refinance Advice Sun, 25 Oct 2009 21:25:27 +0000 http://www.theamateurfinancier.com/blog/?p=1052#comment-424 [...] Ten Commandments of Credit Cards Credit cards have become a regular part of most of our lives. Most of us use them as our major method of paying for our purchases. A large portion of them (including me) even make it our primary method of payment, because of the ease of use, the rewards offered…… [...] [...] Ten Commandments of Credit Cards Credit cards have become a regular part of most of our lives. Most of us use them as our major method of paying for our purchases. A large portion of them (including me) even make it our primary method of payment, because of the ease of use, the rewards offered…… [...]

]]> By: The Benefits of Consolidating Credit Card Debt | Mortage Refinance Advice http://www.theamateurfinancier.com/blog/ten-commandments-of-credit-cards/#comment-412 The Benefits of Consolidating Credit Card Debt | Mortage Refinance Advice Fri, 23 Oct 2009 07:42:21 +0000 http://www.theamateurfinancier.com/blog/?p=1052#comment-412 [...] Ten Commandments of Credit Cards Credit cards have become a regular part of most of our lives. Most of us use them as our major method of paying for our purchases. A large portion of them (including me) even make it our primary method of payment, because of the ease of use, the rewards offered…… [...] [...] Ten Commandments of Credit Cards Credit cards have become a regular part of most of our lives. Most of us use them as our major method of paying for our purchases. A large portion of them (including me) even make it our primary method of payment, because of the ease of use, the rewards offered…… [...]

]]> By: Roger http://www.theamateurfinancier.com/blog/ten-commandments-of-credit-cards/#comment-404 Roger Thu, 22 Oct 2009 14:22:59 +0000 http://www.theamateurfinancier.com/blog/?p=1052#comment-404 FS, In general, the procedure would be that the credit card company would charge you only on the portion of the bill you did not pay off. You only owe them one dollar, so they should only charge you for interest on that amount you owe. Think of it this way: you aren't charged any interest for the money you put on your cards and pay off each month, right? (I know I'm not.) That shouldn't change even if you don't pay off every cent of your debt; the amount you do pay back isn't charged any interest provided you pay it off during the grace period, while the amount you don't accrues interest (usually daily). Now, this is assuming that the credit card company doesn't have something in their fine print that allows them to charge interest during the grace period (or more easily, and less duplicitously, simply not have a grace period), in which case you could be charged interest from the day you make the charge (I believe this is how most cards handle cash advances, actually). There's also double-cycle billing, where the company charges you for the average outstanding debt you had over the past two months, which could also be used to make you pay interest on a debt you already cleared. But that practice will be against the law as of next year, so don't worry too much about it. FS,

In general, the procedure would be that the credit card company would charge you only on the portion of the bill you did not pay off. You only owe them one dollar, so they should only charge you for interest on that amount you owe. Think of it this way: you aren’t charged any interest for the money you put on your cards and pay off each month, right? (I know I’m not.) That shouldn’t change even if you don’t pay off every cent of your debt; the amount you do pay back isn’t charged any interest provided you pay it off during the grace period, while the amount you don’t accrues interest (usually daily).

Now, this is assuming that the credit card company doesn’t have something in their fine print that allows them to charge interest during the grace period (or more easily, and less duplicitously, simply not have a grace period), in which case you could be charged interest from the day you make the charge (I believe this is how most cards handle cash advances, actually). There’s also double-cycle billing, where the company charges you for the average outstanding debt you had over the past two months, which could also be used to make you pay interest on a debt you already cleared. But that practice will be against the law as of next year, so don’t worry too much about it.

]]> By: Financial Samurai http://www.theamateurfinancier.com/blog/ten-commandments-of-credit-cards/#comment-398 Financial Samurai Tue, 20 Oct 2009 22:56:37 +0000 http://www.theamateurfinancier.com/blog/?p=1052#comment-398 Hey Rog, Can you verify something for me? Because I pay off my credit card every month, I'm not entirely sure about this. Let's say you have a $1,000 CC bill due this month and you pay off $999. Does the CC company charge you for the full $1,000 in interest? Or, do they charge for you for the remaining $1? I think it's the former right? Hey Rog,

Can you verify something for me? Because I pay off my credit card every month, I’m not entirely sure about this.

Let’s say you have a $1,000 CC bill due this month and you pay off $999. Does the CC company charge you for the full $1,000 in interest? Or, do they charge for you for the remaining $1?

I think it’s the former right?

]]>