Mulligan
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- May 3, 2009
- Messages
- 9,343
Yes, it would be hard to believe that the frugal folks on this venue would be caught dead with a revolving balance on a CC. Rates are crazy high (25%+) and anyone that has to pay that rate is certainly not a candidate for FI, let alone ER or even R. I suppose you can abbreviate "paid in full each month" by using PIFEM? Example: "I use my CC (PIFEM) for all my purchases..."
I am probably a bit of an oddball compared to others here, as I pay my rewards purchases in full each month, but I have a couple separate cards I use to carry 0 % rates (3% upfront fee) for frequent 2 year loans. I live off my monthly pension,do not want to dig into my reserves, and have plenty of cash flow to cover the debt. In my 20s I would "borrow from myself" but never seemed to pay myself back. I always pay back my creditors, so I do it this way.