Is fooling stupid people into buying more crap really a scam?
If you're stupid enough to fall for it and use all of your cards all the time, then the only one you have to blame is yourself.
HERE ARE THE RULES REGARDING CREDIT CARDS FOR SMART PEOPLE
1) You only need one or two cards, hold onto them to build a good credit rating; that's fairly important. Only sign up for more cards if you're getting something for it (see Sony card below)
2) Have one of your cards be cash back, Chase Freedom is a great card, 1% cash back on everything and 3% cash back on certain things (gas, groceries, cell phone bill). If travel is your thing, get miles. If you want gift cards, get a card that has gift card rewards.
3) Use the cash back card every time you buy anything. Always pay it off immediately (I can go online and pay off the current balance long before the statement comes)
4) If there are any future card deals, go for it and cut up the card. For example, the $100 for signing up for a Sony Visa; free $100 is great, just don't use the card all the time. Having an extra line of credit does not mean you have to use it.
And the most important rule of all
5) DON'T USE YOUR CREDIT CARD TO BUY SOMETHING IF YOU DON'T HAVE THE MONEY IN YOUR BANK ACCOUNT
Only buy things that you know you can afford. If you spend responsibly, having credit cards is great! I love getting 1% off of EVERYTHING (and 3% off of some things). That's more money for me. If you're a complete idiot and use your credit card carelessly then it was just a matter of time before you screwed up your finances anyway.
If you're stupid enough to fall for it and use all of your cards all the time, then the only one you have to blame is yourself.
HERE ARE THE RULES REGARDING CREDIT CARDS FOR SMART PEOPLE
1) You only need one or two cards, hold onto them to build a good credit rating; that's fairly important. Only sign up for more cards if you're getting something for it (see Sony card below)
2) Have one of your cards be cash back, Chase Freedom is a great card, 1% cash back on everything and 3% cash back on certain things (gas, groceries, cell phone bill). If travel is your thing, get miles. If you want gift cards, get a card that has gift card rewards.
3) Use the cash back card every time you buy anything. Always pay it off immediately (I can go online and pay off the current balance long before the statement comes)
4) If there are any future card deals, go for it and cut up the card. For example, the $100 for signing up for a Sony Visa; free $100 is great, just don't use the card all the time. Having an extra line of credit does not mean you have to use it.
And the most important rule of all
5) DON'T USE YOUR CREDIT CARD TO BUY SOMETHING IF YOU DON'T HAVE THE MONEY IN YOUR BANK ACCOUNT
Only buy things that you know you can afford. If you spend responsibly, having credit cards is great! I love getting 1% off of EVERYTHING (and 3% off of some things). That's more money for me. If you're a complete idiot and use your credit card carelessly then it was just a matter of time before you screwed up your finances anyway.
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