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To: Mike Buckley who wrote (40331)	3/13/2001 6:40:09 AM
From: Apollo	Read Replies (1) \| Respond to of 54805

Credit Cards/Savings/Wealth building...... Today I met a young banker whose husband refuses to use a credit card; if they can't buy a product using cash, they figure they can't afford to buy it. It was really inspiring to see such a young couple focusing on such a wealth-building strategy. I agree with the importance of understanding wealth-building at any age. But with due respect, their rationale is pretty simple-minded. Choosing to not use a credit card, of the type that permits a free 25 day loan, is a testimony to ignorance or an acknowledgment of one's inability to use it without incurring interest. Not using it for the latter reason is very appropriate. I am sure there are many who use today's credit cards, both for a free loan, and for accruing mileage, such as my American Advantage (AA) Visa. $1 = 1 free mile. We put everything on the card, including buying gasoline and buying a new car (as much as the dealer will allow). We never pay interest. apollo

To: Mike Buckley who wrote (40331)	3/13/2001 10:35:11 AM
From: Jurgis Bekepuris	Read Replies (1) \| Respond to of 54805

>Today I met a young banker whose husband refuses to use a credit >card; if they can't buy a product using cash, they figure they can't afford to buy it. > It was really inspiring to see such a young couple focusing on such a wealth-building strategy. A banker who does not realize that a credit card is a month of free float plus up to 1% cash back if you use Discover is a poor example of "wealth-building"... Jurgis - Nitpicking the nitpicker or Buffetting the Buffett? ;-)