Comments on: Common Credit Card Mistakes

By: Craig

Craig — Mon, 04 May 2009 20:36:14 +0000

Making the minimum payment is definitely the worst mistake you can do. People think that they are safe by paying off the minimum because that’s all they have to do, but don’t realize how much debt and interest is actually being collected.

By: Personal Finance Buzz

Personal Finance Buzz — Mon, 20 Apr 2009 22:07:28 +0000

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By: Green Panda

Green Panda — Mon, 20 Apr 2009 17:16:22 +0000

@Trevor: Identity theft can happen and can ruin a person’s record.

@Jeff: Great point on denial. Looking at your statement forces you to acknowledge the amount of debt you have.

@Stephanie: Great post! I dug around ad found a reference to a Dunn & Bradstreet study on the spending habits stat. Dave should included that with his website for people to check for themselves.

By: Stephanie PTY

Stephanie PTY — Mon, 20 Apr 2009 16:48:04 +0000

This is a good article (definitely), but that Dave Ramsey article is one of my pet peeves. He's one of many, many financial guru's who throws around the "credit cards cause you to spend 12-18% more!" statistic without citing a source or study for it. This has been bugging me for a long time, so I wrote a post about Do We Spend More When We Swipe Plastic? a while back. It was interesting to actually dig into the studies myself and see where those statistics come from.

By: Jeff@StretchyDollar

Jeff@StretchyDollar — Mon, 20 Apr 2009 15:45:49 +0000

Yeah – credit card charges can rack up in a hurry. Another reason frequently reviewing your statements is a good idea is it keeps reminding you how much you’re really spending.