[proxy_user]

I don’t agree with this. My brother charges everything he buys on a 2% Amex card, about $40K a year, and gets back $800 every year in cash

My expenses are much lower, but I still charge about $8K a year. I got a free TV this way.

If you have sufficient cash reserves and self-discipline, it is foolish not to do this. I only charge $500-1500 a month, and keep at least $10K in my checking account at all times.

[sportutegrl]

There is no reason one can't budget a credit card like a debit card. I make a budget for what we are allowed to spend every week, then pay off the credit card in full at the end of the month. No interest, no fees, and I earn Costco dollars. Last year I earned enough to pay for half of my new 60 inch samsung led TV. Sweet.

Dave says that 75 percent of airline miles go unused. It is hard to use airline miles. You need a minimum of 25K or more for one ticket, usually much more. What good is one ticket? At one dollar per mile, you have to charge about 2000 per month to 'earn' one ticket per year. Miles expire, plus most airline credit cards have annual fees. Solution: get cash or merchant money that you know you will spend, (like Costco dollars).

[SoDak]

I’m not sure how the credit cards can make any money at all, or can manage to stay in business. Everytime I see Ramsey discussed, everyone pays their balances every month in full.

heh

[SoDak]

I’m not sure how the credit cards can make any money at all, or can manage to stay in business. Everytime I see Ramsey discussed, everyone pays their balances every month in full.

heh

[techcor]

“Dave’s not here, man.”

[Niteranger68]

Dave Ramsey’s great (for people who are financially retarded).

[psjones]

I don’t agree with Dave, either. I use credit cards that give us cash back, prefer the cash to the miles and we’ve gotten quite a bit of cash back from Discover and Chase. Yes, I do pay off the balances every month.

[Attention Surplus Disorder]

I don’t like debit cards. The protections they offer are roughly equal to credit cards, but should a thief take big wad of money out of your account or if you suffer a fraud of some kind, even if you report it timely, that money is gone from your spending capacity while the dispute is open. A credit card, you can dispute the charge and until the dispute is resolved, you are not charged interest nor is your spending limit reduced by the disputed amount. Banks LOVE debit cards for this reason.

I’ve converted all my debit cards to “ATM only” cards and I have a few credit cards which I pay off monthly.

If you doubt my tale about debit cards vs ATM-only cards, go try changing a debit card to an ATM-only card. The gal at my bank begged me for half an hour not to do so before she relented. The protections are not the same. Fraudulently-obtained money comes out of YOUR hide first with a debit card.

[Altariel]

Dave Say You’re Looking for Trouble?

;-)

Think you meant, Dave Says You’re Looking for Trouble. :-)

Seriously, thanks for posting.