Reply #51: I just ditched my last credit card a couple months ago.

[Obamarama]

I have always paid my credit card balanace in full each month and never, ever carry a balance. As a result my finance charges have been very minimal. I basically loathe credit card companies and the way they take advantage of people so I decided to build up the balance in one of my bank accounts to the same amount as the credit limit on my credit card. I started using my debit card as I would have used my credit card. Instead of writing a check to the credit card company every month, I'd write a check to myself to deposit back into the account and "pay off my balance."

I decided to keep the credit card in case of an emergency. After a few months of zero balances, I kept getting bills for 49 cents each month. It was then I realized that the credit card company charges a minimum finance charge of 49 cents, even when you have a zero balance. This on top of a yearly $65 fee? FUCK THAT SHIT.

I promptly cancelled the card and told them to shove off. I realize this isn't a reasonable solution for many, but if you can swing it at all, I would suggest this tactic. For one, it makes me think twice about whipping out the plastic for a purchase I might not necessarily need. It also feels better to write a check to my own account every month instead of to the predatory credit card company.

Now, if I could only find a debit card that offers frequent flier miles!