rockhillmanor wrote:
Unless you pay the entire credit card bill monthly you ARE paying 'interest'. Very few people pay it off entirely every month making minimum payments = paying the high interest rate.
A great many people pay off their credit cards every month. I have several credit cards I rotate purchases between and I pay them off every month so no interest.
I usually make about $1000 a year off credit cards between rewards and bonuses for signing up for new cards. Different cards have different rewards for different things. I do spend a little bit of time each month making sure they all get paid, but well worth it. (The IRS has ruled that credit card rewards and sign up bonuses are not taxable income.)