It's about impossible to get by with out at least one credit card because just about every gas station in the world requires you to prepay at the pump.
I use my Cabelas card to buy gas. Very soon high gas prices are going to get me a free scope. My wife uses hers to get free lodging at the Days Inn chain - we haven't paid for a motel room in years. A co-worker uses a credit card that builds frequent flyer miles to pay for everything, mortgage, groceries, utility bills, etc. He just flew his family to the Dominican Republic -free. The deal is you PAY IT OFF EVERY MONTH.
One delightful evening I called every company but two and cancelled their cards. That's when I found out they have a stop loss manager and their credit rates will drop from 29% to 5%. You can get 0% for a year.
On average it took me about 10 min. to listen to their speel before getting the card cancelled. With one exception. When I cancelled my CITGO card it went like this:
" I'd like to cancell my card."
" May I ask why ?"
" Your company is owned by a crackpot South American dictator who hates us."
" Your card has been cancelled, Sir."
Did cancelling my cards hurt my credit? Dunno, don't care. Still get 5 or 6 "You've been pre-approved for our credit card" letters every week.
O
