Comments on: Please Put Down the Pitch Fork | Exploring Credit Card Fanaticism

By: This Credit Card Alternative Could Reduce Your Interest Rate by 50%

This Credit Card Alternative Could Reduce Your Interest Rate by 50% — Thu, 08 Jul 2010 18:12:43 +0000

[...] Exploring Credit Card Fanaticism [...]

By: Gholmes

Gholmes — Tue, 04 May 2010 17:42:06 +0000

As this debate has fanatics on both sides, I caution those brothers/sisters who do use credit cards not let Pride creep in. In all this debate our attitude should be. “But by the grace of God go I”.

Here is a post that has links to market research on use of credit cards. If you are one that is on top of it good for Gods grace in your life but dont deny that human nature is drawn to spend more with easy credit.
http://www.psychologytoday.com/blog/ulterior-motives/201001/spending-and-credit-cards

By: Craig

Craig — Tue, 04 May 2010 17:17:39 +0000

@efk22
I saw the JD Roth article and I was amazed by it. I guess if we say something enough times we think it is a fact. I didn’t think to come back and mention it on this post so I’m glad you took the time to do that.

By: efk22

efk22 — Tue, 04 May 2010 16:01:55 +0000

In response to #18/Peter-

No one has ever been able to find the alleged Dun & Bradstreet study. In fact, JD Roth from the blog “Get Rich Slowly” has researched this mythical studyfor a book he is writing. He reports that Dun and Bradstreet has no record of this study. I hope that people will stop quoting a study that does not exist.

See: http://www.getrichslowly.org/blog/2010/04/27/money-myths-and-the-importance-of-thinking-for-yourself/

My spending is limited by my budget, not my credit limit or the balance in my checking account. I carefully scrutinize every purchase whether I decide to pay with cash, credit, or check. The payment method is irrelevant.

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Wed, 28 Apr 2010 17:57:34 +0000

[...] Ford presents Please Put Down the Pitch Fork | Exploring Credit Card Fanaticism posted at Money Help For Christians, saying, “A look at the topic of credit cards – are [...]

By: Yakezie Carnival: Money From Around the World Edition | Foreigner's Finances

Mon, 26 Apr 2010 07:55:44 +0000

[...] Money Help for Christians – Exploring Credit Card Fanaticism [...]

By: Black Coffee: My Favorite Blogs, Money News & Opinions #43 (The VAT Tax Edition)

Sat, 24 Apr 2010 02:45:33 +0000

[...] Help for Christians – In this slightly provocative article, Craig discusses credit card fanaticism – or should I say “anti-credit-card [...]

By: Len Penzo

Len Penzo — Sat, 24 Apr 2010 00:13:25 +0000

Great post, Craig! I am one of those who believe credit cards are an essential arrow in everyone’s personal finance quiver; after all, they offer some valuable benefits to the user!

But like a bow and arrow, it just has to be respected and used responsibly (i.e., pay it off in full at the end of each month).

All the best,

Len
Len Penzo dot Com
.-= Len Penzo´s last blog ..Buying Prescription Glasses Online: Debunking The Four Biggest Fears =-.

By: Bill Moore

Bill Moore — Fri, 23 Apr 2010 22:01:42 +0000

I don't have to worry about unused points because 1% of all my credit card purchases go automatically and directly in $25 increments to the principal of our mortgage. .-= Bill Moore´s last blog ..Racism among us =-.

By: Craig

Craig — Fri, 23 Apr 2010 21:48:45 +0000

@Peter,
Great comment. You’re absolutely right that it takes a fanatic to make one. In other words where there is one polar extreme it probably exists to combat another polar extreme.
From my own research (studying myself not anyone else) I came to the conclusion that I spend more with credit cards. However, I weighted that against the convenience of the credit card and opted to use on (but not for everyday purchases). Personally, I agree that people spend more with credit, but I know there are a lot of people who deny that.
You’re right on with the points statement. I have more airline points than I know what to do with. This is mostly because my points are with US carriers and I don’t travel a lot in the states. That is a key advantage of cash back programs – people know how to spend cash.
Thanks again for the comment.