No. of Recommendations: 0
I use the credit card money only for emergencies. I work as a consultant and use to keep 6 months of cash sitting in a savings account; for those worst of times. Then I got enough credit to cover this period and have only used it once for 2 months. It cost lots in interest, but having the money in the market instead of a money market account has more than made up for it.

But other than this I never carry a balance on a credit card and I use them for all my purchases, including the groceries. I think the idea of using this money as a transfer to lower interest rates and beating the percentages sounds like too much work to me for the pay-off.

my rule is to stay within my means

--e. dov
Print the post  


UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.