tag:blogger.com,1999:blog-26277603.post-41429081617282619132007-06-13T17:40:00.000-05:002007-06-13T17:40:00.000-05:00" me, it means we choose not to spend our valuable free time constantly checking our rewards balances, making sure we made our required monthly purchase so a card's APR doesn't skyrocket, frequently calling the CC companies to try for a reduced APR or switching to cards with a lower rate."<BR/>I don't believe people who pay their balances in full every month do the things you mention. It is silly to constantly check reward balances. Every bill lists one's balance, and unless you spend a lot, and most of us who pay in full don't, the amount doesn't change that much month-to-month. If you pay your balances in full, you don't care much about your interest rate either since you never intend to pay it. So what is the point of constantly looking for a better rate if you don't pay it? The only exception are "credit card daredevils" who specifically use 0% cards for arbitrage purposes: i.e. taking a loan at 0%, putting it on an interest-bearing savings account and paying it back before 0% expires to pocket the interest. By the way these people who take advantage of 0% offers are counted as part of 58% of people who carry balances not 42% of people who pay in full.<BR/><BR/>I've never cared what my interest rate is as I've never paid it and don't intend to, so there is no reason to make a "required monthly purchase". This is actually something I've never heard of. Is it even true? I've also used the same card for many years. I am to busy at work to do the things you list.<BR/><BR/>At any rate, you are absolutely correct in making a choice that is right for you. You are wrong about the fraud protection though. While you are absolutely right in making a choice that is right for you, you should be aware that debit cards don't carry the same fraud protection as credit cards regardless of the logo. Please investigate it, especially if you travel as this is where you are most vulnerable, IMHO. Also, if you complain to a credit card about a fraudalent charge, the disputed amount is in "limbo" during the investigation; whereas with debit cards, it is taken from your checking and not returned until the investigation is complete. Given large enough amount and bad timing and it may present a problem.Anonymousnoreply@blogger.com