No. of Recommendations: 7

Did you realize you are responding to a 20 year old post? It's usually best to start a new topic, when the old one has been lying dormant this long.

Also it's not very active, but the "Credit as a Tool" board was eventually created to cover this type of topic. Because a lot of the posters here were struggling with debt and we got a lot of flack about discussing the responsible use of credit with that kind of an audience reading our posts.

It's good to get cash back for purchases you would have made anyway. But flaunting that in front of people that have trouble with credit card debt and trouble making wise spending decisions probably isn't ideal.

But FWIW, my Fidelity rewards (2% cash-back) is my fall-back card. I also have a Bank of America card that gives me 5.75% on gas and 3.50% on wholesale and groceries stores. And Chase Freedom & Discover give those quarterly 5% categories.

Also while good arbitrage opportunities for 0% balance transfers have been gone for a years, there are a number of institutions that will give you cash and other perks for opening and using an account - credit or deposit. If anything, those perks have gone up in recent years.

And for the nay-sayers, I do pay off my balances every months. In fact I save nearly half my gross pay, so I think my spending is probably under control...

- Joel
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.
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.
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.