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RE: How Much Car Can You Afford?
I pay for my groceries with a credit card. I get a little cashback and religiously pay it off in full every month. But I think you are talking about people who put it on the card and make minimum payments. Yea, that'll keep you paying interest forever.
Exactly! I had an American Express that I paid off religiously every month so I could avoid interest payments. Before I put my friend Larry to work in Ohio, he lived off credit cards. He would max one out, get another with a higher limit and pay it off. Kinda like the national debt!