Comments on: On Dave Ramsey and Why You Shouldn’t Cut Up All Your Credit Cards http://bettercreditblog.org/2009/12/02/on-dave-ramsey-and-why-you-shouldnt-cut-up-all-your-credit-cards/ Helping you improve your FICO score, repair your bad credit, and settle collection debt by learning from my mistakes. Wed, 08 Sep 2010 06:22:41 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Why you shouldn’t cut up all your credit cards | Pro Credit Score Tips http://bettercreditblog.org/2009/12/02/on-dave-ramsey-and-why-you-shouldnt-cut-up-all-your-credit-cards/comment-page-2/#comment-10228 Why you shouldn’t cut up all your credit cards | Pro Credit Score Tips Wed, 01 Sep 2010 09:03:37 +0000 http://bettercreditblog.org/?p=450#comment-10228 [...] is a link to the original article: http://bettercreditblog.org/2009/12/02/on-dave-ramsey-and-why-you-shouldnt-cut-up-all-your-credit-ca... [...] [...] is a link to the original article: http://bettercreditblog.org/2009/12/02/on-dave-ramsey-and-why-you-shouldnt-cut-up-all-your-credit-ca... [...]

]]> By: Alex Leonov http://bettercreditblog.org/2009/12/02/on-dave-ramsey-and-why-you-shouldnt-cut-up-all-your-credit-cards/comment-page-2/#comment-10227 Alex Leonov Wed, 01 Sep 2010 09:02:53 +0000 http://bettercreditblog.org/?p=450#comment-10227 It is a good thing to have a bunch of credit cards with slight movements on them - spend some, refund some, making up as good history without really taking large credits - like you are spending your cash with slight percentage that is improving your overall credit score. And I definitely agree that to close all your cards is a bad idea. No credit - no score. No score = problems. Linked back to this article at http://procreditscoretips.com/2010/09/why-you-shouldnt-cut-up-all-your-credit-cards/ It is a good thing to have a bunch of credit cards with slight movements on them – spend some, refund some, making up as good history without really taking large credits – like you are spending your cash with slight percentage that is improving your overall credit score. And I definitely agree that to close all your cards is a bad idea. No credit – no score. No score = problems. Linked back to this article at http://procreditscoretips.com/2010/09/why-you-shouldnt-cut-up-all-your-credit-cards/

]]> By: Victoriamabel http://bettercreditblog.org/2009/12/02/on-dave-ramsey-and-why-you-shouldnt-cut-up-all-your-credit-cards/comment-page-2/#comment-10222 Victoriamabel Sun, 25 Jul 2010 03:39:18 +0000 http://bettercreditblog.org/?p=450#comment-10222 This blog provides its highly more interesting info about credit cards. i feel happy to being here. thanks for it. <a href="http://borrowernews.com" rel="nofollow">borrower</a> This blog provides its highly more interesting info about credit cards. i feel happy to being here. thanks for it.

borrower

]]> By: TalkDebt.org http://bettercreditblog.org/2009/12/02/on-dave-ramsey-and-why-you-shouldnt-cut-up-all-your-credit-cards/comment-page-2/#comment-10217 TalkDebt.org Mon, 19 Jul 2010 06:43:56 +0000 http://bettercreditblog.org/?p=450#comment-10217 This site is great. Take a look at our site at http://talkdebt.org - we have lots of credit and debt related info as well. Perhaps we can even work out some kind of link exchange. This site is great. Take a look at our site at http://talkdebt.org – we have lots of credit and debt related info as well. Perhaps we can even work out some kind of link exchange.

]]> By: Dewey Kearney http://bettercreditblog.org/2009/12/02/on-dave-ramsey-and-why-you-shouldnt-cut-up-all-your-credit-cards/comment-page-2/#comment-10216 Dewey Kearney Thu, 08 Jul 2010 17:14:54 +0000 http://bettercreditblog.org/?p=450#comment-10216 Excellent article. Dave Ramsay is just one of many who are beating the drum to "get out of debt". You won't go wrong following his advice. Dewey Kearney www.1-800badcreditblog.com Excellent article. Dave Ramsay is just one of many who are beating the drum to “get out of debt”. You won’t go wrong following his advice.
Dewey Kearney
http://www.1-800badcreditblog.com

]]> By: Mot-gage http://bettercreditblog.org/2009/12/02/on-dave-ramsey-and-why-you-shouldnt-cut-up-all-your-credit-cards/comment-page-1/#comment-10208 Mot-gage Tue, 15 Jun 2010 15:50:42 +0000 http://bettercreditblog.org/?p=450#comment-10208 Credit card is a very good tool. To avoid finance charges and late fees, pay your credit card immediately after using. For this mechanism to work, you must use your credit card wisely. Only spend on necessary items. <a href="http://www.credit-score-solutions.co.cc" rel="nofollow">Improve Your Credit Score Here!</a> Credit card is a very good tool. To avoid finance charges and late fees, pay your credit card immediately after using. For this mechanism to work, you must use your credit card wisely. Only spend on necessary items.

Improve Your Credit Score Here!

]]> By: Frank R http://bettercreditblog.org/2009/12/02/on-dave-ramsey-and-why-you-shouldnt-cut-up-all-your-credit-cards/comment-page-1/#comment-10205 Frank R Tue, 08 Jun 2010 20:51:26 +0000 http://bettercreditblog.org/?p=450#comment-10205 Credit Cards can be a very good thing if used wisely! http://www.houstondebtrepair.com Credit Cards can be a very good thing if used wisely!

http://www.houstondebtrepair.com

]]> By: athensguy http://bettercreditblog.org/2009/12/02/on-dave-ramsey-and-why-you-shouldnt-cut-up-all-your-credit-cards/comment-page-1/#comment-9996 athensguy Sun, 06 Dec 2009 20:35:55 +0000 http://bettercreditblog.org/?p=450#comment-9996 @Mephisto Every company is always looking at new ways to try to make money. Just because CCCs are looking at adding fees or eliminating grace periods does not mean that will happen across the board. Some cards may have an annual fee added. Fewer may eliminate grace periods. You see, it's not true that card companies don't make money from PIF cardholders. Before American Express went subprime, all of its cardholders were PIF unless they were in default. Anyway, I have 8 or so cards in my name and DW has a few others. All are no annual fee and all have grace periods. I find it very unlikely that any of them will eliminate the grace period or add an annual fee, with the addition of an annual fee being slightly higher than the elimination of the grace period. @Mephisto
Every company is always looking at new ways to try to make money. Just because CCCs are looking at adding fees or eliminating grace periods does not mean that will happen across the board. Some cards may have an annual fee added. Fewer may eliminate grace periods. You see, it’s not true that card companies don’t make money from PIF cardholders. Before American Express went subprime, all of its cardholders were PIF unless they were in default.

Anyway, I have 8 or so cards in my name and DW has a few others. All are no annual fee and all have grace periods. I find it very unlikely that any of them will eliminate the grace period or add an annual fee, with the addition of an annual fee being slightly higher than the elimination of the grace period.

]]> By: Chris http://bettercreditblog.org/2009/12/02/on-dave-ramsey-and-why-you-shouldnt-cut-up-all-your-credit-cards/comment-page-1/#comment-9994 Chris Sun, 06 Dec 2009 18:42:13 +0000 http://bettercreditblog.org/?p=450#comment-9994 What you Dave Ramsey nerds are forgetting is that CREDIT DOES NOT EQUAL DEBT! When I use my no AF credit cards and pay them off immediately there are NO fees - and companies are not adding fees for that type of spending. They are hiking interest rates (which I don't have to pay) and fees for late payments and over the limit spending. Again, smart credit card use costs nothing. And mephisto, why would a rich person laugh at paying higher rates? They wouldn't, unless they are also stupid. You don't get or stay rich blowing money for no reason. Having a good FICO score costs nothing. I laugh at you who DR has brainwashed. He's made so much money off of you fools -- he's laughing all the way to the bank. What you Dave Ramsey nerds are forgetting is that CREDIT DOES NOT EQUAL DEBT!

When I use my no AF credit cards and pay them off immediately there are NO fees – and companies are not adding fees for that type of spending. They are hiking interest rates (which I don’t have to pay) and fees for late payments and over the limit spending. Again, smart credit card use costs nothing.

And mephisto, why would a rich person laugh at paying higher rates? They wouldn’t, unless they are also stupid. You don’t get or stay rich blowing money for no reason.

Having a good FICO score costs nothing.

I laugh at you who DR has brainwashed. He’s made so much money off of you fools — he’s laughing all the way to the bank.

]]> By: Mephisto http://bettercreditblog.org/2009/12/02/on-dave-ramsey-and-why-you-shouldnt-cut-up-all-your-credit-cards/comment-page-1/#comment-9993 Mephisto Sun, 06 Dec 2009 18:24:15 +0000 http://bettercreditblog.org/?p=450#comment-9993 Another point that many have not put on here yet is that many credit card companies are looking to add fees and interest to people who do pay their bills off every month, because they are realizing they make no money off of you. So unless you plan on finding the few that won't very quickly follow suit, most of you who are saying to keep these cards open will pay more than that $50 to the credit card company to get the "privilege" of being a card holder. And as many others have said, insurance is becoming a more competitive field. They want your business and if you say you're going to switch companies because they are charging you more for not being in debt and having a credit score, and a lot of them will try to work with you. And those that won't, well they will learn that this tactic may cost them more business in the future as well. Me and my family will continue to not use debt, and in our 20's, will use this decades long practice to make ourselves rich, and our kids will look at a $50 car insurance hike and laugh at it. Another point that many have not put on here yet is that many credit card companies are looking to add fees and interest to people who do pay their bills off every month, because they are realizing they make no money off of you. So unless you plan on finding the few that won’t very quickly follow suit, most of you who are saying to keep these cards open will pay more than that $50 to the credit card company to get the “privilege” of being a card holder. And as many others have said, insurance is becoming a more competitive field. They want your business and if you say you’re going to switch companies because they are charging you more for not being in debt and having a credit score, and a lot of them will try to work with you. And those that won’t, well they will learn that this tactic may cost them more business in the future as well. Me and my family will continue to not use debt, and in our 20’s, will use this decades long practice to make ourselves rich, and our kids will look at a $50 car insurance hike and laugh at it.

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