Comments on: Credit Card Analysis: From Hell to Heaven

By: Lee

Lee — Wed, 23 Sep 2009 06:37:23 +0000

@Samurai – exactly! Credit cards used properly, can be a very good way to reduce the cost of everything you buy.

@ Tom – Fingers crossed they play ball. It will be very interesting.

By: Financial Samurai

Financial Samurai — Wed, 23 Sep 2009 06:03:40 +0000

Nice graphs Lee. The only reason why I use my credit card is b/c 1) I don’t like carrying cash, 2) I get 1% back that pays off my principal in my mortgage and 3) the CC statement lists everything I spend so I can keep track.

Other than that, it is silly to keep a CC revolving debt, b/c the interest rate is so high.

By: Rob Lewis

Rob Lewis — Tue, 22 Sep 2009 11:01:24 +0000

Interesting thoughts Lee – the graphs really help to bring home the problem which isn’t always easy to spot, as you proved. Good luck with getting the old data from the card company, I think I might be too scared to actually see the amount of money I’d paid them in that time.

Makes me wonder how many other people in the UK have a similar problem, and how many are yet to have the “epiphany” that you’ve thankfully had with your credit cards.