Save MORE money

[brittanyandkyle]

great job rvbob!!! just one quick question what banks promotion did you get your bank to match? as i might want to give that a try in the future

[Insane]

I have 3 credit cards...one I opened and did a balance transfer on. The special offer is about to expire. I called one that I paid off a few months ago (and have had for 4 yrs) and asked them what they could do to keep my business (ie balance transfer). They said nothing so I cancelled it. Feels great to be down a credit card but I wish all the tricks people try would have worked for me.

[ashedfc]

I have 3 credit cards...one I opened and did a balance transfer on. The special offer is about to expire. I called one that I paid off a few months ago (and have had for 4 yrs) and asked them what they could do to keep my business (ie balance transfer). They said nothing so I cancelled it. Feels great to be down a credit card but I wish all the tricks people try would have worked for me.

No of credit cards has only psychological significance (1 or 2 or 3 or....). Its the total outstanding balance, which is more important.
Just transfering the balance to another credit card does not solves the problem, the debt carrying cost is still there.

[aquaticredstar]

I LOVE!!!!!!!!!!!!!!!!!!!!TV Show Til Debt Do Us Part!!!!!!!!!!!!!!!!!!! I so use the jar method in my house!!!!!!

[Kess]

I have Scotiabank Visa which has a 1% back on everything, and 2% back on recurring payments, drugstore, etc. I think I pay 68 dollars per year, but its so worth it. I also have CIBC dividends VISA - 1% back on everything - staggered at .25% up to $500, .5% from 501 to 2000 and 1% thereafter. No fees on that one (it was the Shoppers Drug Mart visa card before).

I buy coffee from the coffee pot at work for 0.25 cents a cup (as opposed to $1.50 or more down in the food court of our building) or better yet, boil the kettle and make my own coffee or tea. Usually eat packed lunches or cup o' soup as opposed to dropping $10 for lunch downstairs too.

Our weekness is that we like to have dinner and movie out about once a week or every two weeks, but I have lots of movie tickets from redeeming my HBC points and use the Entertainment book to eat out....

If you don't mind me asking what is the interest rate on that card...I'm only asking because i find that cards that offer incentives tend to have high rates wondering if this one is different. I have cancelled cards with incentives in the past because they rates were like 19% and i had a balance so went with a card with a lower rate (9.99%) but if you don't keep a balance on these incentives cards they are nice to have.

[Insane]

No of credit cards has only psychological significance (1 or 2 or 3 or....). Its the total outstanding balance, which is more important.
Just transfering the balance to another credit card does not solves the problem, the debt carrying cost is still there.

Not if you do a balance transfer and cancel that card.

[kduever]

not necessarily. some premium visas include insurance coverages that could save you more than the cost of the annual fee.

I would never buy "credit card" insurance. What most people do not realize is that this only pays the MINIMUM balance while you are unable to pay. Meaning, that while it protects your credit rating, the actual debt that you owe goes down very insignificantly.

Much better to have your own life/disability insurance/critical illness insurance which can not only be used to pay debt but also help to support you and your family while you are recovering.

[travelgeek]

I would never buy "credit card" insurance. What most people do not realize is that this only pays the MINIMUM balance while you are unable to pay. Meaning, that while it protects your credit rating, the actual debt that you owe goes down very insignificantly.

Much better to have your own life/disability insurance/critical illness insurance which can not only be used to pay debt but also help to support you and your family while you are recovering.

I wasn't referring to the insurance for the credit card. Yes, that insurance is definitely a poor deal.

Rather, I was talking about the car rental and trip cancellation/interruption insurance. Trip cancellation/interruption insurance is usually sold by travel agents at $70-100 a trip. Car rental insurance is usually $25/day. If you travel/rent a car a few times a year, it doesn't take long for the $120 annual fee for the credit card to pay for itself many times over. Plus I've redeemed for thousands of dollars in free air travel over the years.

[Insane]

I wasn't referring to the insurance for the credit card. Yes, that insurance is definitely a poor deal.

Rather, I was talking about the car rental and trip cancellation/interruption insurance. Trip cancellation/interruption insurance is usually sold by travel agents at $70-100 a trip. Car rental insurance is usually $25/day. If you travel/rent a car a few times a year, it doesn't take long for the $120 annual fee for the credit card to pay for itself many times over. Plus I've redeemed for thousands of dollars in free air travel over the years.

I like mine for that too. Plus it has lost baggage insurance. My luggage seems to have a target on it that says "Please loose me in transit". So it comes in handy.