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Author Topic: Credit Cards 2022  (Read 2742 times)

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Offline WV Sawmiller

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Re: Credit Cards 2022
« Reply #20 on: May 20, 2022, 07:59:28 PM »
21",

 That reminded me when we first got married I was in the USMC and promptly got stationed in Okinawa. I brought my wife over at my expense and we lived on the local economy, had our son and returned at the end of my 12 month tour to Parris Island/Beaufort SC. Of course in Okinawa we paid everything in cash. Shortly after we got back I got a notice from Chevron asking me if I wanted a gas credit card. Since it was apparent we were going to be putting some miles on the vehicles it made sense to have a gas credit card and Chevron was a popular station found along our route so I filled out the form and returned it. They promptly sent it back denied which highly offended me. I called and asked why they denied it and they said because I had no credit history for the last 12 months. I told them that was because I was stationed overseas and paid cash for everything. They said "Buy some things on credit and call us back at the end of the year." I think we bought a fridge on a local credit plan a few weeks later and paid it off early to avoid finance charges (which pithed of the credit company) but here it is some 42-43 years later and I have yet to call Chevron and bet I have not been in one of their stations half a dozen times. Don't make me an offer then offend me. That's not cool.
Howard Green
WM LT35HDG25(2015) , 2009 4wd Dodge PU, Kawasaki 650 ATV, Sthil 440 & 441, homemade logging arch (w/custom built rear log dolly), JD 750 w/4' wide Bushhog brand FEL

Dad always said "You can shear a sheep a bunch of times but you can only skin him once"

Offline Larry

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Re: Credit Cards 2022
« Reply #21 on: May 20, 2022, 10:47:26 PM »
When I bought my TK in 2010 I tried negotiating on a cash price and they wouldn't budge.  Fine, I put it on my credit card and saved maybe $500.  Last year I was thinking about buying a new TK and again they wouldn't budge but they told me they no longer accepted credit cards.

Today I filled my truck with diesel.  Seemed most of the cut rate stations were around $5.30.  Sams was at $4.94.  My credit card gives me a 3% discount than Sams has some kind of kick back scheme that I really don't understand but total discount should be around 6% which put me at $4.64.  I think a substantial savings over paying cash at a cut rate station.

 
Larry, making useful and beautiful things out of the most environmental friendly material on the planet.

We need to insure our customers understand the importance of our craft.

Offline WV Sawmiller

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Re: Credit Cards 2022
« Reply #22 on: May 21, 2022, 08:27:39 AM »
Larry,

   Another option, if you are not a Sam's club member, would simply be to go buy a gift card for face value at Wal Mart as you are leaving the store then immediately go out to the parking lot/fuel point and use it to fill up your tank and get the discount.  ;D

   If you ever wondered how the companies can produce the gift cards at no extra cost remember they are using your money for a varying amount of time and a big factor is - how many of those cards get lost with a remaining balance? They are just like an un-cashed check.
Howard Green
WM LT35HDG25(2015) , 2009 4wd Dodge PU, Kawasaki 650 ATV, Sthil 440 & 441, homemade logging arch (w/custom built rear log dolly), JD 750 w/4' wide Bushhog brand FEL

Dad always said "You can shear a sheep a bunch of times but you can only skin him once"

Offline gspren

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Re: Credit Cards 2022
« Reply #23 on: May 21, 2022, 09:56:12 AM »
Last week at a local gas station my CC was denied so instead of calling in I just stopped at the local branch of our bank that the card is through, I'd rather talk face to face with the younger lady there than deal with a phone call. I handed my card to the "Customer Relations" lady who I know and said why don't it work? After she punched the number into her computer she asked if I was in Tennessee last week, no I was there last month, someone used my number in a Home Depot last week and it looked suspect so they shut it down. She went over the charges and the rest were OK but we killed the card and am now waiting on a new one, a hassle but one I'd rather do in person. This is why our cards are through a local bank!
Stihl 041, 044 & 261, Kubota 400 RTV, Kubota BX 2670, Ferris Zero turn

Offline kantuckid

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Re: Credit Cards 2022
« Reply #24 on: May 22, 2022, 10:01:01 AM »
We get paid back by our credit union for CC use. Gas and groceries pays more. Our sons get paid too and it's automatically done, ours we have to do a step on our own quarterly. I do suck out a $100 from Walmart on our debit card which we barely use otherwise. I do wish they'd adjust that for inflation as a $100 is the new $20 dollar bill? :D
Some local gas places give 5 cents a gallon off for cash, some chains in KY give a debit card discount while most don't. I don't understand why some do, some don't on debit cards?
We all know we are paying in several ways for card use, non-payment of bills, so on. many states have had devices to allow not handing your CC to a stranger in restaurant's but is sort of newish in KY. 
Our CU will kill your card used out of state if you haven't called in, unless they've changed as we haven't done lots of covid travels.
My first CC was in KS in the early 60's-was a Phillips 66 card as that's where I got most of my gas. Later, maybe ~ mid 60's Bank of America sent me one, not asked for, in the mail and I cut it up. 
We rarely write checks other than a major purchase like a car or tax bills as they charge us a % at the courthouse.
One lady who worked with/for my wife had 35 or 37 CC's, I forget which #. Maxed most of them out too! 
Ours get compromised many years a time or two, less lately.  
  
Kan=Kansas;tuck=Kentucky;kid=what I'm not

Offline LogPup

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Re: Credit Cards 2022
« Reply #25 on: May 22, 2022, 08:50:09 PM »
I had my credit card company call me and ask why I hadn't let them know that I
would be traveling outside the the country.  I told them I hadn't, they said, but you were in New Mexico. smiley_huh

Offline Southside

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Re: Credit Cards 2022
« Reply #26 on: May 23, 2022, 12:25:52 AM »
Well, that isn't exactly the south now is it?  So might be they were right.... :D
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Offline jimbarry

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Re: Credit Cards 2022
« Reply #27 on: May 23, 2022, 06:34:19 AM »
I use one CC for everyday purchases for personal and business, pay it off each month. Every year the card company/bank pays me back $1,000-$1,200. Card annual fee is $99. Seems like a fair deal for keeping accounting records in order.  We also run an ecommerce web site, no cash/checks, just credit card and debit cards through the PayPal system. We are verified business partners with PayPal, been with them 24 years now. Thousands of transactions each year. Not one single issue in all that time. 
For local big corporate companies I will use a CC, for local small business owners I use cash if they prefer. Bank corps are the criminals nowadays. They charge for everything, money in, money out, every check, dollar bill and coin, including etransfers. And if you don't keep a minimum balance so that they can use your money to make money, they charge extra. 
Our Amazon store is a different issue altogether. A lot of consumer mail fraud goes on there.

Offline kantuckid

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Re: Credit Cards 2022
« Reply #28 on: May 23, 2022, 08:45:18 AM »
In a foreign country I tend to head for the first ATM that's on my list of OK ones and cash up with local currency. Mexico I keep pesos on hand for the next trips beginning needs. I did get caught years ago with a bunch of old pesos when inflation had them reset their entire currency. Got a large sippy cup full of pretty coins :D
 
That might happen here in the USA given the trend? ::) Imagine the low hourly workers forced to commute long distances on $5+ gasoline. My guess is a bunch of CC's are maxed out right now just on gas.

We have never forgotten when we were in Ireland, walked into the hotel of choice and learned our CU had turned off our card for no particular reason and were well into our multi-week trip there. It was past business hours, mind you. The hotel cut us some slack or we'd have been sleeping in a tiny rental car. To say that was the last time it happened is untrue-see below.  

 When one son lived in AL we had our card turned off trying to fuel up on several occasions of our having forgotten to call them to announce our plans. The solution became getting on a first name basis with the CY card lady. Seems to not happen during covid as we mostly don't travel now, other than FL last winter.
  
Kan=Kansas;tuck=Kentucky;kid=what I'm not

Offline WV Sawmiller

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Re: Credit Cards 2022
« Reply #29 on: May 24, 2022, 11:39:32 AM »
   I have had lots of overseas issues as mentioned above. In South Africa we stopped near the border with Botswana and bought a bunch of Botswana currency from a community store there only to find they were in transition to a new edition and had trouble spending them. The people who took them had to take them to a special bank to exchange.

   I found using the ATM in the home country gave me current exchange rate without the exchange fees of going through an agency so that worked well.

   In Cameroon the ATM would only advance about $8 as I remember. We went to the bank to see the Chief of the Bank (President I guess) and was told we could only draw $200 advance on a card but they allowed me to do so on 2 cards and my wife did the same (Even though same cards) and got us enough to tide us over the unexpected cost increases. (We got caught in a Coups 2 weeks later so we should have known someone was trying to tell us something. ::) )

   We did a private tour in Mongolia and the wire transfer did not make it through. We went on our tour expecting it to go through. A couple of places we stopped and exchanged dollars to Tugrits and found they would not accept anything except very recently issued bills so now before I travel I get all new $100 bills. (Many places give a better exchange rate for $100 vs smaller bills.) At the end of the trip we went to a bank in Ulaanbattar (Capital of Mongolia) and did about a $5K advance on my CC and paid the travel agent in the bank. I figured if he got robbed outside the door it was his money not mine.

    I also found many countries discount traveler's check instead of accepting at face value like we do in the USA.
Howard Green
WM LT35HDG25(2015) , 2009 4wd Dodge PU, Kawasaki 650 ATV, Sthil 440 & 441, homemade logging arch (w/custom built rear log dolly), JD 750 w/4' wide Bushhog brand FEL

Dad always said "You can shear a sheep a bunch of times but you can only skin him once"

Offline peakbagger

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Re: Credit Cards 2022
« Reply #30 on: May 24, 2022, 01:07:09 PM »
I use a cash back credit card and pay it off every month. I broke an ankle last year and have a high deductible health care plan,  the local hospital gives a 2% credit if I pay within 30 days so I pay it online. The cash back adds up.

An interesting  thing to know is most credit card agreements with vendors require that if they charge a surcharge for using a card it has to be a separate charge. If they just add it to the original charge, if the cardholder complains, the extra charge is removed from the card. I think most business's just ignore it as most people do not check their credit card bills

I get my credit score sent to me every month on the card and get dinged for "lack of recent credit" and high balance on credit cards. The balance is not that high, I just refuse credit upgrades. All my credit reports have been locked down for 5 years so getting new credit would be hard. The bummer is several US government websites like Healthcare.gov use credit bureaus to verify a persons identity. Since my credit is locked down I cant get on the site to use it. Our state has no fee brokers so I just buy direct and skip healthcare.gov.

My dad was an accountant, I dont claim to be one but he made sure I understood about money and credit. A couple of paper routes and Junior Achievement also helped. Sad to see 60 year old folks who still havent figured it out.

Offline kantuckid

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Re: Credit Cards 2022
« Reply #31 on: May 24, 2022, 01:47:22 PM »
I/we have never known our credit rating or score, ever. So far I've never had a reason to know. 
I bought a trailer axle yesterday and we didn't have our checkbook along, which is typical for us. I was told I'd be hit for a 3% surcharge for credit or debit. It didn't show as a separate number on the invoice, so unless I'd have asked, I now have no idea how the card was run away from me in another area. 
I have never gotten a discount for a medical bill paid early.
Rental car insurance is a very important aspect of certain CC's in certain countries as they often cover some of the risk. It's listed in lawyer talk, small print on your cards contract. 
For some time now I have wished that Walmart & Kroger's would increase their $100 debit card free cash limit. A $100 is worth about $75 lately. It matters more for us as local ATM's don't give us free cash, even though the signs say our card is an eligible card. I've tried reasoning with that bank but no good result came about. 
  
 
Kan=Kansas;tuck=Kentucky;kid=what I'm not

Offline Ron Wenrich

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Re: Credit Cards 2022
« Reply #32 on: May 24, 2022, 03:28:13 PM »
I have one doctor that will give a discount for cash.  But, not for checks.  They said the bank charges for cashing checks.  I told them to change banks. 
Never under estimate the power of stupid people in large groups.

Offline WV Sawmiller

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Re: Credit Cards 2022
« Reply #33 on: May 24, 2022, 04:08:22 PM »
Kantuck,

   I never knew or thought about CC providing rental car insurance but my insurance policy covers me in a rental so I always decline it and tell the agency my personal car insurance provides such coverage. I have never had a problem from the agents. 

   If anyone does not use CCs they should check the coverage with their existing auto insurance for any rental they use.
Howard Green
WM LT35HDG25(2015) , 2009 4wd Dodge PU, Kawasaki 650 ATV, Sthil 440 & 441, homemade logging arch (w/custom built rear log dolly), JD 750 w/4' wide Bushhog brand FEL

Dad always said "You can shear a sheep a bunch of times but you can only skin him once"

Offline customsawyer

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Re: Credit Cards 2022
« Reply #34 on: May 25, 2022, 06:13:52 AM »
When I first started taking CC at my lumber store I was charging a 3% fee but then had to add sales tax to the fee. What a pain. Now I have it set up to where the card machine/company is collecting the fee. I pay a strait $25.00/month to be able to take cards. The card machine charges the customer 3.5% for the convince and it never sees my account so I don't have to charge sales tax or any additional headache. I have explained it all in some different areas here on the forum but basically if you are running a business and not charging the fee then you can be losing over 10% of your profit margin real quick. By the end of a year you will have worked 3 to 4 weeks for free just to pay the card fees. 
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Online YellowHammer

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Re: Credit Cards 2022
« Reply #35 on: May 25, 2022, 07:07:19 AM »
 As a business owner, I take them and love them for our business, as people will splurge spend and blow their "budget" way over cash.  Also since we are open on Saturday, people complained they had to go to the bank to get cash, and the bank was closed.  So taking plastic is huge for us as an income stream.  We have had customers spend thousands and just hand us their card and tell us "just run it, I don't even want to know the amount, my wife is going to kill me."

On the other hand, the rewards money the customer gets back is not free, it comes from the business owner.  So it's not unexpected that the business must have the customers pay for it.  We don't give cash discounts, I personally don't like having that much cash around, and we just incorporate the 2.5% fee as part of the price and don't make it a separate surcharge.

I do not take personal checks at all, I've had some bad experiences with them.  I do take bank based business checks, and I also give business a tax exempt status, which is significant, as per Alabama law.  

It's not lost on me that their same customers who brag that they are getting cash back from their credit card transactions don't understand that my business is paying for that.  So I simply tell them it's a wash.  They pay the fee to me, their card gives it back to them.  
YellowHammerisms:

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If it wonít roll, its not a log; itís still a tree.  Sawmills cut logs, not trees.

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Sawing is fun for the first couple hundred boards.

Offline Southside

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Re: Credit Cards 2022
« Reply #36 on: May 25, 2022, 09:13:57 AM »
What service provider are you using @customsawyer ? 
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Offline kantuckid

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Re: Credit Cards 2022
« Reply #37 on: May 25, 2022, 09:15:42 AM »
Kantuck,

   I never knew or thought about CC providing rental car insurance but my insurance policy covers me in a rental so I always decline it and tell the agency my personal car insurance provides such coverage. I have never had a problem from the agents.

   If anyone does not use CCs they should check the coverage with their existing auto insurance for any rental they use.
Every CC we've had (all from the same CU) covered rental cars, not that we rent them much and definitely less during covid, which has been zero rentals.

Having stopped my use of the dental college I know use a dentist who's with a local hospital and they give a 25% discount for people like me who don't have or use dental insurance and pay for services when rendered. Their fee scale is also much lower than most dental providers.
 
As I type, wife's in a rather heated discussion with the WSJ r.e. their charging our CC a fee well beyond what we had paid w/o any forewarning. We got it free for some years, then began to pay $1 month, then all at once a $10 month fee pops into the acct.. Secret charges as it were, as we had no idea it was an automatic renewal which we had declined previously in writing where you check a box. one more month and that's a bye bye newspaper. :D 
Kan=Kansas;tuck=Kentucky;kid=what I'm not

Offline customsawyer

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Re: Credit Cards 2022
« Reply #38 on: May 26, 2022, 06:01:44 AM »
The one I use is called Spot On. I think most of them offer a similar service. Some don't like to promote it though. I started with Square on my phone but for some reason or another I always had to take the case off of my phone to get it to work. Obviously that didn't last long. Next went with a local guy that brought a machine and set it up in the office. I explained that I wanted the machine to charge the fee so I didn't have to. Well he couldn't do it that way. About a year later a rep from Spot On came by and they would set it up exactly like I wanted and even provided a little sign that sets on my counter top saying that the machine is going to charge the fee to the customer.  The only problem I had with them is after a year of using them they started taking a little more than 3.5 percent. Made a call to the rep and he got that all nipped in the bud and refunded all of the over charges. These card companies are slick. You really have to keep a eye on them to make sure they aren't taking more than their share. That is why I like the $25.00 fee. I can calculate simple numbers and if any more than that has come out of my account then it is easy to catch.
I also have a separate account for the cards to get deposited into and wire transfers. I do this as I had one customer that bought almost 20K worth of cypress on his card which is fine. Except he was one of those that gives you a uneasy feeling. I got to thinking about what if he waited a couple of weeks and reversed the charges. I'm not sure how all of that works but if that 20K isn't in the account the card gets deposited into then I get to have a say if there is going to be a refund. I normally write a check out of that account to my regular business account once a week. I have only had one customer that refused to pay the fee. Had a few that went to their truck and got their check book, but most don't even blink.
One of the things I really like about taking cards is when a customer or company from far off orders lumber it is easy to get a 50% down payment before you start cutting. The more folks find out I take cards the more folks use them. Several local contractors come in and load their truck and pass the card. They don't even think about it. Most of the time they will ask that I put a few shirts and some hats on the card for their customer. It's crazy how some folks using a card don't think of it as spending money.
Two LT70s, Nyle L200 kiln, 4 head planer, 30" double surface planer, Lucus dedicated slaber, Slabmizer, and enough rolling stock and chainsaws to keep it all running.
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Online YellowHammer

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Re: Credit Cards 2022
« Reply #39 on: May 26, 2022, 07:43:12 AM »
It's crazy how some folks using a card don't think of it as spending money.
That's the key for using card.  
As a business, people will outspend using a credit card than any other mechanism, whether there is a separate fee or not.  That's also why any financial advisor will tell a customer that the first thing they need to do is cut up their credit cards because they leads to reckless spending.  I own a business, have a good product and I want my customers to recklessly spend.
Lots of time I hear "Well, I've hit my budget, but heck, I'm going to go get some more wood, just charge it."
YellowHammerisms:

Take steps to save steps.

If it wonít roll, its not a log; itís still a tree.  Sawmills cut logs, not trees.

Kiln drying wood: When the cookies are burned, theyíre burned, and you canít fix them.  So donít burn the cookies.

Sawing is fun for the first couple hundred boards.


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