Thursday, December 1, 2011

No credit cards here

I use my a debit card from my bank for most transactions.  When I swipe it at a store, I usually claim it is as a credit card because I have forgotten my pin.  This works well as it is a very easy system.  One card tied to my checking account.  If the money isn't there, I can't spend it.  My last credit card was with Discover.  For a while they had 2% cash back but that fell and fell to a point where it wasn't worth it anymore.  I then relegated it for travel but even then I could tell I was using it without thought or plan and I didn't like that so I have cut it up.  I do have a gas card and a card tied to my HSA but those are used for two very specific purposes.  Occasionally I will receive a gift card with a limited amount of dollars on it.  Once it is used, I cut it up.  I know there are deals out there for cash back cards and cards that give away airline tickets but I don't want to jump through the hoops to get those things.  Companies are not in business to give away money and trips.  They make their money by people buying more than they should.  I don't want to fall into the trap of justifying a purchase because I will gain miles or a 2% discount.  Using cash, check, and a single debit card works for me.  It is a closed, simple system that I would highly recommend to anyone wanting to simplify and reign in spending.

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