No. of Recommendations: 0
I would like to thank everyone for all the interesting responses! Kinda amusing, actually... All I really wanted to know was whether the diligent use of a credit card could positively influence an otherwise negative credit report. It seems as if the answer is yes.

It also appears that most of you curse credit as one of the most evil inventions mankind ever invented, right up there with nuclear weapons. I've learned that the irresponsible use of credit can get one into trouble (and I will continue to be reminded of that fact for another 4.5 years), but I also believe that the responsible use of credit can be a blessing.

Purchase a house with cash? Yeah right! I don't think this is a realistic option for very many people at all. It's already a shame that so many non-middle/upperclass folk are wasting money on rent when they could be putting the money into building home equity. Online bill pay, convienence at the grocery store, internet mail order, the list goes on and on why credit cards are a godsend. The interest rate on a house or car payment might seem like money tossed in the toilet, but I look at it as a necessary expense for these types of larger purchases. Constantly carrying a $2000 balance on your 19% APR Mastercard is a waste of money. Financing a new Passat... I'd be hard-pressed to see the waste there.

Don't get me wrong - I plan on driving my beat-up Saturn for another three or four years, and 90% of my wardrobe is straight out of the Costco T-shirt and Jeans Catalog. Currently I am socking two grand a month into stocks. I live a very financially responsible lifestlye (except for frequent trips to the sushi bar) and I would cringe to think that financing a house or car would be a frivolous luxury!

Anyway, thanks for all the advice, and I'll check out those gas cards.

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