Credit Cards

[jcruise67]

Hi Folks!!!

 

When is it more advantageous to make purchases with a credit card in lieu of cash? This topic has probably surfaced before, but I really haven't read any in depth arguement for or against the use of a credit card over cash, or vice versa. What are the pros & Cons of both? Thank you for your replies.

 

jcruise

[montekat]

If you are using a credit card with "rewards" it can be very advantageous. Currently I have the MBNA card which gives rewards on RCI. You get one point for each dollar spent. On our last cruise, we cashed in 25,000 pts. for $250 in onboard credit. We are looking to book a free 4 night cruise for 2 when we reach 50,000 pts. There are several cards which have different rewards, or some just give cash back. We charge everything possible to the card and keep it paid off each month. For us, it is free money. We earned $2,250 from CapitalOne when they gave rewards towards Carnival Cruises.

 

Plus, depending on the card, you get other benefits ($500,000 flight insurance when using Discover to book flights). And, the credit card company will help resolve issues if there are problems. I have had to challenge payments twice and they took care of it all.

 

Proper use of a credit card will give you a better credit rating (cash will not do this). If you have an emergency, you always have ready money. Some car rental agencies will not rent a car to you if you don't have a CC.

[caribbean dreams]

always use a CC for purchases in ports (they the store takes them) because we have purchased items that did not work and disputed them with the CC, if you use cash you have lost out.

In Jamaica we bought batteries for out camera $24 ea., they were dead, no problem just called the CC company and they took the amount off our bill. And Yes, we also get Cash back for using our CC.

 

[suezyq50]

We are like Montekat. We use our CC for everything, than pay it off when we get the bill. Copay at the doctor's office, groceries, power bills, gas, anywhere it is accepted. We have used awards in many types of ways, plane tickets, cash, hotel rooms. You just have to compare and see what is the best value.

[RoofingPrincess]

that I can think of is... you can't spend what you don't have!

If you're good at managing your spending, then I'm all for using the credit card, for all the reasons above. But all of those "little something here, little something there" purchases, especially on a cruise vacation, can add up -- resulting in a big shock when the bill comes the month after you get home!