My accounting class is currently doing an assignment about credit/ personal finance.
What do you people use your credit cards for? What? Why? When? Where? and How?
Thanks
My accounting class
What: Responsible people use credit cards for emergencies....Most people use them to buy things they want but can't afford.
Why: Because they don't have the cash up front.
When: Whenever it's deemed necessary according to the borrower.
Where: Everywhere credit cards are accepted.
How: It can be as easy as swiping plastic (credit card purchase) or as daunting as closing on a house (basically signing your life away on a million different sheets).
I have an American Express with no limit. It is a rewards card and I earn double points for gas and grocery purchases. If it can go on the AMEX, I put it on there and then I pay it all off at the end of the month. As far as I know, all AMEX cards work like that - they must be paid off at the end of every month. I then use the points to get free hotel visits, plane tickets, restaruant gift cards, etc.
Normally I'll take my family out to the movies and then we go to a restaurant. Totally free too, the points pay for everything just by using a card for things I had to buy anyway. Not bad if you ask me.
It should be use for gas and small items only and the balance should always be paid in full the following month in order to avoid additional interest.
Ordering online.
Booking hotel rooms
Expenses when traveling