therwol wrote:
I charge things myself, like airline tickets and some merchandise, but mostly I use my debit card for any transactions under 5k. The 29.9% interest is an eye opener, predatory as far as I'm concerned. If you don't pay off the balance each month, and many people can't pay off a large charge in one month, then you might have well have used another card, depending on how long you take to pay it off.
There is another hidden cost here. Every time you open up a new credit card your credit score takes a hit. They assume that you will run up your credit limit so you appear that much further in debt. I pay my cards off each month too. Just use them to accumulate cash backs and track spending but the more open lines of credit that you have the worse you look to the lenders. Unless you buy a lot from B&H each year, this might not be such a good deal.