Just thought I’d point out this article I saw….
And of course this inspires the question: Are you weird yet? Have you ditched credit cards yet?
We’re now on month 21 of not having a credit card, the world didn’t end, our finances are better than ever, the recession is a myth for us, and we pay no interest no fees no nothing to credit card companies. Most importantly, not one of the “this will happen” predicted by so many around us has ever happened.
Life is good on this side of the fence.
The one thing the article did point out that I’ve been thinking about lately is the backlash that will eventually follow debit cards. As credit card usage continues to suffer, it’s only a matter of time before banks and credit card issuers start coming after the debit card crowd. I wonder how many people will, at that point, make the total switch from our national plastic addiction and go with cash.
When we turned off the credit cards 21 months ago, we made the move to cash as well with the exception of purchasing gas (debit card). It’s been a huge blessing for us.
Join in the CC revolution. Cut ’em up and get those snakes out of your life.
Yeah, so I’m a little passionate about killing CCs. Can you blame me? Easy credit is one of the primary drivers behind much of the financial trouble today. The buy-it-now generation has committed plastic suicide, putting themselves in bondage to these companies at rates as high as 29.99%. At the same time, CC companies have created this entire mythology where having one means something. Where not having one means you aren’t someone.
Since when did the color or brand of a plastic card in my pocket prove anything beyond the power of good marketing? Seriously. Think of it this way: You, the customer, the one who pays the bills, the one who manages your money, applies to them for the right to borrow money at rates as high as 29.99% and when you are approved, you think it’s a blessing? You think it’s a good thing? You think it’s an honor to be awarded the triple plutonium card with double points? We act like getting credit is a right of passage, like it’s a privilege, like it’s a necessity, like it’s something to be proud of. Think that through again… You are begging them for the right to give them your money, and you like it!?!?
On what world does that make sense?
Sigh…. Debt is dumb. Credit is dumb. Even for the crowd that pays everything off every month or buys only planned purchases. You do realize that most merchants tack on 1.5% of the sale price to cover the surcharge they have to pay the CC companies? Hope you like your 1% cash back. Did you know that most places will discount major purchases by at least that surcharge amount if you pay cash and ask for the discount? Hope you like the air miles. Did you know that studies have proven that shopping with a CC typically increases your spending by 18%? Hope you like the convenience.
It’s just not worth it. I realized that when my then-three-year-old knew how to swipe a credit card and the cashier thought it was cute. Katherine had no concept of money, its value, or its purpose. Now, 21 months later, she gets it.