Comments on: Charge Cards Vs Credit Cards: You Decide http://www.mint.com/blog/credit-2/charge-cards-vs-credit-cards-07262010/ The blog of the free, simple personal finance solution. Track all your spending automatically, find the best deals, save more money. And save the world. Sun, 12 Feb 2012 05:07:51 +0000 hourly 1 http://wordpress.org/?v=3.1.3 By: John Ulzheimer http://www.mint.com/blog/credit-2/charge-cards-vs-credit-cards-07262010/comment-page-1/#comment-57840 John Ulzheimer Wed, 28 Jul 2010 21:21:38 +0000 http://www.mint.com/blog/?p=13666#comment-57840 Check with the issuer, who is probably a large bank, and see if they'll reissue the card without pulling your credit. The value to having the card is the unused credit limit, called open to buy. The more unused credit limit you have on your credit reports the lower your credit card utilization percentage and the higher your scores. If they're willing to give you a few hundred dollars then don't waste your time. I have a HD card with a $19,000 credit limit so it's worth it to keep that one open. Good luck!! Check with the issuer, who is probably a large bank, and see if they’ll reissue the card without pulling your credit. The value to having the card is the unused credit limit, called open to buy. The more unused credit limit you have on your credit reports the lower your credit card utilization percentage and the higher your scores. If they’re willing to give you a few hundred dollars then don’t waste your time. I have a HD card with a $19,000 credit limit so it’s worth it to keep that one open. Good luck!! ]]> By: Blake http://www.mint.com/blog/credit-2/charge-cards-vs-credit-cards-07262010/comment-page-1/#comment-57822 Blake Wed, 28 Jul 2010 13:48:39 +0000 http://www.mint.com/blog/?p=13666#comment-57822 @Noah, Not sure what Steve is using (or charging) to get that much back each month, but I'm pretty happy with my Chase rewards card. I put all my bills that I can on it to take advantage and every few months I cash out my rewards and get a check from them. I pay it off every month automatically so I don't pay a dime in finance or membership fees. @Noah, Not sure what Steve is using (or charging) to get that much back each month, but I’m pretty happy with my Chase rewards card. I put all my bills that I can on it to take advantage and every few months I cash out my rewards and get a check from them. I pay it off every month automatically so I don’t pay a dime in finance or membership fees. ]]> By: Michael http://www.mint.com/blog/credit-2/charge-cards-vs-credit-cards-07262010/comment-page-1/#comment-57799 Michael Tue, 27 Jul 2010 19:57:01 +0000 http://www.mint.com/blog/?p=13666#comment-57799 I have a credit card from a major big box, former mall anchor store. It has been a while since I used it and it has gone inactive. Is it better to reactivate the card or leave it untouched? I heard that it's good to have as many credit cards open and active. But will reactivating them affect my credit score? Thank you. I have a credit card from a major big box, former mall anchor store. It has been a while since I used it and it has gone inactive. Is it better to reactivate the card or leave it untouched? I heard that it’s good to have as many credit cards open and active. But will reactivating them affect my credit score?

Thank you.

]]> By: Claire http://www.mint.com/blog/credit-2/charge-cards-vs-credit-cards-07262010/comment-page-1/#comment-57792 Claire Tue, 27 Jul 2010 17:39:32 +0000 http://www.mint.com/blog/?p=13666#comment-57792 I never knew there was a difference between the two. Yikes! I never knew there was a difference between the two. Yikes! ]]> By: Noah Sachs http://www.mint.com/blog/credit-2/charge-cards-vs-credit-cards-07262010/comment-page-1/#comment-57770 Noah Sachs Mon, 26 Jul 2010 22:38:22 +0000 http://www.mint.com/blog/?p=13666#comment-57770 @Steve, Sweet! sounds like a good plan, what is your card that you use to get $50 to $100 a month back? @Steve, Sweet! sounds like a good plan, what is your card that you use to get $50 to $100 a month back? ]]> By: John Ulzheimer http://www.mint.com/blog/credit-2/charge-cards-vs-credit-cards-07262010/comment-page-1/#comment-57769 John Ulzheimer Mon, 26 Jul 2010 22:12:05 +0000 http://www.mint.com/blog/?p=13666#comment-57769 Ok well, let's be realistic. Banks are not evil, credit cards are not evil and to suggest that we avoid credit cards is unrealistic. The better alternative is to learn HOW to use them properly and benefit from what they have to offer. Avoidance isn't the answer. Carrying cash is not the answer. You live a more efficient lifestyle using plastic properly. My two cents. Ok well, let’s be realistic. Banks are not evil, credit cards are not evil and to suggest that we avoid credit cards is unrealistic. The better alternative is to learn HOW to use them properly and benefit from what they have to offer. Avoidance isn’t the answer. Carrying cash is not the answer. You live a more efficient lifestyle using plastic properly. My two cents. ]]> By: Brandon Shaw http://www.mint.com/blog/credit-2/charge-cards-vs-credit-cards-07262010/comment-page-1/#comment-57768 Brandon Shaw Mon, 26 Jul 2010 22:02:41 +0000 http://www.mint.com/blog/?p=13666#comment-57768 Nothing wrong with credit cards. In fact, they're a good way to build credit. Just make sure they aren't your only debt, that you don't buy things you can't afford and make sure you can pay above the minimum every month. Nothing wrong with credit cards. In fact, they’re a good way to build credit. Just make sure they aren’t your only debt, that you don’t buy things you can’t afford and make sure you can pay above the minimum every month. ]]> By: Steve http://www.mint.com/blog/credit-2/charge-cards-vs-credit-cards-07262010/comment-page-1/#comment-57767 Steve Mon, 26 Jul 2010 22:01:17 +0000 http://www.mint.com/blog/?p=13666#comment-57767 Folks, its well into the 21st century. If you can not manage your credit by now, then get on the ship. Cash is dirty - literally - I never use it. Everything goes on plastic then at end of the month, my full card balance is deducted from my checking acct. Besides that, my card PAYS ME to use it! Every month I get paid anywhere from $50 to $100 or so just for using it. And manufacturer warranties are doubled as a card benefit. WHO NEEDS CASH? Not me. Folks, its well into the 21st century. If you can not manage your credit by now, then get on the ship. Cash is dirty – literally – I never use it. Everything goes on plastic then at end of the month, my full card balance is deducted from my checking acct. Besides that, my card PAYS ME to use it! Every month I get paid anywhere from $50 to $100 or so just for using it. And manufacturer warranties are doubled as a card benefit. WHO NEEDS CASH? Not me. ]]> By: norcal http://www.mint.com/blog/credit-2/charge-cards-vs-credit-cards-07262010/comment-page-1/#comment-57766 norcal Mon, 26 Jul 2010 21:32:54 +0000 http://www.mint.com/blog/?p=13666#comment-57766 how about using neither i dont believe in plastic money cash talks money walks i dont even understand why most people still use banks theyre not to be trusted does anyone not remember the great depression? how about using neither i dont believe in plastic money cash talks money walks i dont even understand why most people still use banks theyre not to be trusted does anyone not remember the great depression? ]]> By: Ben http://www.mint.com/blog/credit-2/charge-cards-vs-credit-cards-07262010/comment-page-1/#comment-57752 Ben Mon, 26 Jul 2010 17:50:42 +0000 http://www.mint.com/blog/?p=13666#comment-57752 The idea of using a payment form that does not let you get into trouble with debt is great. The idea of using a payment form that does not let you get into trouble with debt is great. ]]>