Posted on 11/30/2010 9:17:26 AM PST by US Navy Vet
NEW YORK (AP) -- More than 8 million consumers stopped using credit cards over the past year. The decline stems from a combination of consumer choices and bank actions.
An analysis by credit reporting agency TransUnion found that use of general purpose credit cards bearing MasterCard or Visa logos, or issued by Discover or American Express, fell more than 11 percent in the third quarter, compared with the July to September period last year.
(Excerpt) Read more at finance.yahoo.com ...
We have not had a credit card for about 15 years now. No problems and life goes on. Yes we still can rent cars and reserve and pay for motel rooms.
I’m one of them. I paid off my last credit card a few months ago. Haven’t looked back.
No it's not. I rent cars and book hotels all the time with my debit card.
I have one also, besides, I don’t mind using a credit card. My experience has been that it is extremely difficult to rent a car with a debit card, especially OCONUS.
I have a Visa debit card. It works just like a credit card but it has the added protection of a PIN.
Credit card use IS debt.
Better analogy is firearms use causes holes in things.
Whether debt or holes is a good thing depends on the application and circumstances.
That’s what I have. It doesn’t work overseas for car rentals though. It’s my personal account, and I don’t like to use it for work, so I have a couple of credit cards I use when I travel. Sometimes I have problems with AE in Japan at retail stores.
True but it is temporary (30 day) interest free debt unless it was from a cash advance or if one chooses to ride a balance.
There are good and bad uses of debt but my point was that people’s debt problems cannot be blamed on the credit cards but in how they are used.
AE works like any other card now. On the green card the monthly balance has to be paid off. If there is a charge over $200 (maybe $100 now) you can take forever to pay it off. The payment due on that amount is $20 monthly.
Yeah, but when you’ve got one, you’re more apt to use it. :)
I don’t have a credit card and I do just fine without one.
The last car I rented in Anchorage, AK out of 8 rental companies only one would take a debit card and they wanted a large cash deposit.
I used to use a debit card all the time but almost no rental company will take them now.
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