James & I have had considerable debate on the issue of credit card use. Here is where we land on the issue:
Miel:
1) It is okay to use credit cards if you already have the money in hand for what you are charging, and you pay off your balance in full without getting dinged for any charges.
2) Playing by the credit rules can work to your advantage with better credit scores.
James:
1) Credit cards are to avoid at all costs.
2) High interest credit can be like heroin. As an ex-card addict, it is best to not tempt thyself.
You can see that James & I don’t exactly see eye to eye on the credit card debate, but we do manage to leave each other alone and don’t harass each other unnecessarily. We both manage to have our philosophies work to our advantage.
James wasn’t too happy to see that when it came time to buy a house, Miel had a better credit score, even though at the time he made more money and had more in the bank. At the same time, he’d rather keep the crack away than to play the credit game.
Miel works to keep her credit rating high and likes the advantages of perks like not having to pay for insurance on rental cars and the like. She enjoys seeing the rewards add up and best yet, beating the credit cards at their own game.
To each their own.
-Miel
DINKS (Dual Income No Kids) Finance is a blog discussing personal finance for couples. While by no means financial experts, we own a variety of assets including real estate and stocks. We've both been up to our eyeballs in debt and have made tons of financial mistakes. However, we've both successfully retired that debt and we both do learn from our failings. We hope that our voice in this blog can help others in achieving their goals!
