In a very interesting move, Suze Orman is now advocating using cash only -- no credit cards. She says she's sick of companies taking advantage of us by increasing fees, interest rates and so on.
A lot of people are agreeing with her, and cancelling their cards.
I am wondering, though -- a lot of this misuse -- and abuse -- has been going on for years. How come it's suddenly so important to Suze? Because her customers are soooo broke now? And so many are unable to pay their debts?
There are some who argue that you are 'willing' to pay more when you use the card, versus pay for cash. (Or at the very least, you'll buy more.) I can see this point. But what if you deliberately limit yourself, even when using cards?
We get enough cash (and points) back every year to justify continuing our usual practice -- charging everything possible, but paying it off each month. No exceptions. (And we've only missed doing that three times in 28-plus years -- two by accident.) What about that, Suze? Wouldn't that be the best of both worlds?
What do you think?