Monday, July 30, 2018

Credit Card Trial....

I recently became the 4th (out of 4) victim of debit card fraud in my immediate family. And I get that that it’s a huge racket; but I cannot understand how someone can somehow walk in a store and use my debit card without the pin number hundreds of miles from home. But I digress….

My wife recently mentioned that one of the things she wants to do more in the future is travel. Hmmm, I thought: “Is there maybe a way to kill two birds with one stone here?”

Starting August 1, we will use credit cards to make all of our non-cash purchase (utilities, groceries, eating out, etc.). Chase has a card that will give us 50,000 reward points (equal to $600 in travel purchases or $500 cash back) for charging $4,000 in 90 days (or something like that) as well as cash back on all expenditures after that.

And yes, after a year of spending every cent (except for $1,000 of our savings) we had to eliminate all debt, a credit card scares me. I actually had a dream last night where I forgot to pay the bill and we somehow ran up more debt than our home is worth, while also spending the rest of our money traveling. I woke up in a panic…. However, the pros seem to outweigh the cons in this scenario, so we will give it a shot for the remainder of this year and see how it ends up.

More to follow….

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