Friday, November 4th, 2011

How to Play the Credit Card Game

"I have so many darn cards—active and not. With the exception of the cards I’m working at any given time, I keep them semi-organized in a small zip lock (actually it’s a quart-sized bag). I use a black sharpie and write right on the cards '2x gas' '50k w/ 10k spend' 'cancel 1/2012' etc. I can only imagine what waiters and clerks think, but who cares?"
This is an awesome light introduction to how to work credit cards to your advantage. Should you be paying fees on credit cards? NO, NUH UH, YOU SHOULD NOT.

5 Comments / Post A Comment

jfruh (#713)

Now that we've moved our mortgage to our credit union, our only financial exposure to big banks is our credit cards, which are no-fee and which we pay off every month so we pay no interest. So, are we secretly screwing them by basically having them loan us money interest-free every month, or are there hidden fees that make them money off of us without our knowledge?

barnhouse (#1,326)

@jfruh The merchants you pay using these cards are taking a huge hit, depending on their monthly volume. Smaller merchants have to pay like 3% not even counting the other related bank fees, which are not inconsiderable. Pay restaurants and local shops in cash, when you can.

deepomega (#1,720)

As with most of these things, just remember that it is, in fact, a game. Hope you enjoy it! Just like playing a "system" in roulette, though, it mostly works in the long run and with a very boring application of a very strict set of rules.

pearl (#8,156)

I'm superbly late to this and no one will ever see it, but I'm 22 with decent credit and have done some "mild" churning in the past year, culminating with free flights and hotel stays in Austin for a friend and myself so I APPROVE

banksters (#239,738)

I used to be trapped by debt from all of my credit cards. I have since wised up and now I use credit card companies to travel for free and get free gift cards. I always pay my bill on time and I look for cards without annual fees, unless it makes sense for me to pay the annual fees. Check out The Credit Card Game for tips and tricks.

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