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I would like to know how much of the credit card debt mentioned in today's Fool on the Hill article may be attributed to folks like myself and my Foolish Friends.

First, let me paste a great big disclaimer: Please do not try this unless you have a cast iron will and stomach to match.

Starting around mid-year 2000, our family starting using a particular credit card very heavily. We used it to for every purchase that we could. Groceries, gas, clothes...everything. The reason is -- the card earns an incredible amount of airline miles and doesn't charge an annual fee (currently). We pay the bill IN FULL every month. (Refer to my disclaimer...if you can't promise this to yourself. Don't try it.)

I've been Foolish for several years and have developed the discipline to do this. Even so, there is a danger. I recently read an article stating that families using credit cards for the majority of their purchases tended to spend 18% more than those not doing so. While our spending hasn't increased nearly that much, I must admit; it has gone up some.

The benefit: Given our level of spending I figure that every year we will have enough miles to pay for two round trip tickets anywhere in the contiguous US. Surely making the vacation budget go a little farther.

(By the way, besides a mortgage payment (7.5% of take home pay) and a very modest car payment (even less), we are debt free. Just in case you were wondering.)

Fool on....
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