[OT - more on banks] Yes, I have occasionally carried a credit card balance for a month. Most of the time, I just pay it off.
I think it's good to have a card with a reasonable interest rate "just in case". Keep in mind that the average credit card in this country carries a rate in excess of 15%, and many are as high as 21%! The rates are loss-driven, and only getting worse, even as other interest rates are lowered, as lenders become more and more liberal with their criteria.
The point I was making, though, is that some banks are now booting people who don't carry a balance. I think in that environment, it's best to have a low-rate card - at least you can placate them from time to time by running a balance for a month. :)
But by using a credit union (non-profit), they are unlikely to do that, as they don't have a profit motive. They are there to serve their customers (in theory, their owners).
Though our mortgage rates are low, they aren't as low as yours - and I'm glad. We have a housing shortage in San Diego. With 4 1/2% mortgages, there would be shootings in the line-ups for new homes. :) |
