A Credit Card Survey, Passive Income, Car Payments @ The Carnival

by Silicon Valley Blogger on July 30, 2008

A Credit Card Survey

A while back, Mr Credit Card invited me to provide some responses to a survey he was conducting about the credit card habits of financial bloggers. I gave him my replies and now he’s published the results in his article entitled “Personal Finance Bloggers Credit Card Survey“.

Here’s a summary of his findings:

#1 Most financial bloggers carry 2 credit cards. I own three: one for personal, one for business and one spare card (aka the just-in-case or backup card).

#2 Many respondents favor American Express and the Discover More card. Some even have an Amazon.com Visa card. None of my cards was considered a popular choice.

#3 Most financial bloggers surveyed do not carry any debt at all! 76% of respondents have no credit card debt. That’s amazing. Like most bloggers, I pay off my cards in full each month.

#4 The majority of survey participants have credit scores of 700 and above. At least 75% of bloggers are in this boat.

#5 About half the bloggers charge their utilities, cable and internet bills to their cards. I don’t and this tidbit gave me the idea that perhaps I should — to increase my rewards points of course!

#6 Respondents don’t have their credit card bills on autopay. I don’t: I’d still want to scrutinize my statements before I pay them.

For more findings on bloggers and their credit cards, please check out Mr CC’s report. You can also find out who actually participated in this survey in Mr CC’s follow up post.

Now on to our carnivals for the week!

Carnival Roundup

The Carnival of Personal Finance #163: Quotable Quotes Edition is up and running at You Need A Budget. Here are a few posts that caught my eye:

The Festival of Frugality #136: Summer School Edition was held at Student Scrooge. I got to read some excellent articles there and these were some I particularly liked:

Also, I so enjoyed the theme for the Carnival of Money Stories #70 at Stop The Ride, which was all about the alphabet! :) So clever! You can find my own submission about how to increase the value of your home under letter “H” for “Home Sweet Home”.

Other Carnivals and Mentions

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Categorized under: Money Articles

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Forensic Files and Bad 401k Plans
August 3, 2008 at 10:40 am

{ 9 comments… read them below or add one }

1 Jonathon July 30, 2008 at 3:48 pm

Always pay off your cards at the end of the month if it’s at all possible. 20%+ interest isn’t a joke and you’ll go through a lot of trouble to get rid of it if you let it get out of hand.

It seems pro bloggers have a pretty good handle on their finances. Maybe it’s all the hard and (seemingly worthless) work you have to go through before your blog or website really starts catching on and generating income.

Thank you for the links, too, by the way!

2 The Financial Blogger July 30, 2008 at 4:55 pm

Hey thx for the mention!
I’m glad you enjoyed my creativity ;-)

3 Coupon Artist July 30, 2008 at 6:48 pm

Thanks for the mention! I really enjoyed all your articles in the different Carnivals :)

4 Dorian Wales @ The Personal Financier July 31, 2008 at 2:22 pm

Thanks for mentioning my post. It is greatly appreciated. Dorian

5 Stephanie August 1, 2008 at 5:26 am

Thanks for linking to Carnival of Money stories. So glad you enjoyed the theme!

6 Jon August 1, 2008 at 7:43 am

#6 Respondents don’t put their credit card bills on autopay
I’ve got my credit card on autopay to pay off the balance in full on the due date. I still have about two weeks to look over the statement and make sure it’s correct, and that’s the paper copy! I can check my credit card transactions at any time online, as well, which I do. The autopay feature makes sure my payment won’t ever be late or forgotten.

7 Silicon Valley Blogger August 1, 2008 at 7:56 am

@Jon,
Those are good points about the autopay feature for bill payments. I guess one can always dispute mistakes after payment, or make up for the difference in the next payment in case there were mistakes on a current bill. I may have to rethink how we pay our credit card bill!

8 syria August 3, 2008 at 6:25 am

the credit card is an amazing invention and every one of us must have it

9 Denis September 21, 2008 at 4:02 pm

Now everyone can create passive income even at home. You can make your own website and then earn money from that. Real Estate is albo good way to making money. Just slow down with your day job and concentrate on your small business. Even 100$/month passive income is better than nothing at the beginning.

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