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Author Topic: Credit cards  (Read 3073 times)

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Offline Larry

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Credit cards
« on: March 27, 2006, 07:30:06 PM »
Like everybody I get all kinds of credit card offers...most of the time they go directly to the round file.  For some reason I opened one up from Advanta and noticed they give 5% cash back on fuel purchases and bunch of other stuff.  Only requirement was that you have to use it for your business.  No problem so I got one coming.

Is there some kind of catch to this scheme?

Iíve got this other credit card that keeps sending me $25 reward certificates at Amazon.com.  Works great for toys...tools.  Canít figure that one out either. :)
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 Ed_K

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Re: Credit cards
« Reply #1 on: March 27, 2006, 08:16:44 PM »
 I've got a shell card that does 5%. after you get to $10. they credit it to the acc. Only problem is 14 mi for fuel instead of 6. so I take all the cans with me.
Ed K

Offline Ianab

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Re: Credit cards
« Reply #2 on: March 27, 2006, 08:26:35 PM »
I'm guessing that they are just trying new ways of getting your attention / business.
They can spend millions on advertising and they know you just throw it in the bin.
But offer you a discount / something for free and it's got your attention, they might get your business.  ;)
Giving away $1m in cashbacks probably costs them less than a Superbowl TV advert, and it may be more effective in bringing in new business.

Just read the fine print, and also be aware that the deal might not last forever, but if they change your conditions too much, there will always be a better offer to sawp to in the next mail.   ::)

Ian
Weekend warrior, Peterson JP test pilot, Dolmar 7900 and Stihl MS310 saws and  the usual collection of power tools :)

Offline metalspinner

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Re: Credit cards
« Reply #3 on: March 27, 2006, 09:25:17 PM »
Is there some kind of catch?
Yeah...20% or more interest if you miss a payment.  Credit card company's in my opinion are the lowest of the low of scumbags this world has to offer.  Just look at them on any univerisity campus handing out credit lines to all these 18 year olds when they know that kid has no way to pay that monthly bill.  Then late charges, interest compounded daily and over the limit fees has that kid in serious trouble before fall break.
Intead of offering me sky miles or "cash back" or discounts on things just give me a lower interest rate.
My wife and I just paid off the last of our credit card debt and will never own another in our life!  At Sears when I check out I tell the cashier "Don't even offer me a credit card or I'm walking out of here without this stuff I came to buy."  Do I sound bitter?  You bet!! >:(
I do what the little voices in my wife's head tell me to do.

Offline Woodwalker

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Re: Credit cards
« Reply #4 on: March 27, 2006, 10:11:10 PM »
Legal loan sharking. We had a refrigerator go out. Wife went to Sears, picked up a new one; thought she put her old Sears Card. Turned out they set her up with a new card from Citi Bank. No problem paid the thing off way early and closed the account. Done deal, right? Wrong! Got a late notice the first month for a dollar or so. Must be a mistake. The account is paid off and closed. Long story short, we were getting charged close to 30% interest on a paid off and closed account.
Paid that amount off and added about $3.00 more to the check. The closed account now shows a credit.  Think Iíll wait a year or so to collect my $3.00 plus 30% compounded daily for the rest of your life interest.
Just cause your head's pointed, don't mean you are sharp.

Offline metalspinner

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Re: Credit cards
« Reply #5 on: March 27, 2006, 10:23:11 PM »
Some day I will meet a really smart lawyer (?) and start a class action lawsuit against credit card companies.  If smokers aren't to blame for their lung or lip cancer, then I shouldn't be responsible for bad debt.
I do what the little voices in my wife's head tell me to do.

Offline Ron Wenrich

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Re: Credit cards
« Reply #6 on: March 28, 2006, 05:57:57 AM »
Woodwalker

You're lucky they didn't add late charges to that.  I had one where I forgot the payment.  I thought the bill was junk mail and threw it out, unopened.  They gave me a late payment that was more than the bill.  That's over 1200% interest.

I called them up, reamed them out, and told them to drop my credit card.  They sent back the late fee.  They hate to lose business.
Never under estimate the power of stupid people in large groups.

Offline Nova

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Re: Credit cards
« Reply #7 on: March 28, 2006, 07:03:29 AM »
Credit cards only make sense if you pay the balance off every month and on time otherwise it's legalize thievery smiley_contract_point.  Have a Citibank MC that pays 2% kickback on all purchases up to an annual maximum.  Used this card when we built our last house, only time I ever hit the annual maximum.  This particular card's kickback can only be redeemed on vehicle purchases - new, used or lease - all you have to do is send a copy of the bill of sale and they send you a cheque for the amount you ask up to the amount you have built up.  Working on our fourth allotment which I expect will be a decent sum after we finish the new house.
...No one cares how much you know until they know how much you care...John Maxwell

Offline mike_van

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Re: Credit cards
« Reply #8 on: March 28, 2006, 07:57:02 AM »
I missed the payment date - Christmas eve - 117.00 balance - They hit me 39.00 for a late fee. The lady at the bank said "call the # on the back of the bill" - I did & the guy took the 39.00 charge off.  Wouldn't work every month, but it was worth the phone call.  8)
I was the smartest 16 year old I ever knew.

Offline pigman

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Re: Credit cards
« Reply #9 on: March 28, 2006, 12:36:29 PM »
I am glad my wife has a credit card, if she didn't she would have to spend a lot of money buying a large enough purse to carry all the cash needed to buy her junk stuff. ;)  Of course I only use my credit card to buy important stuff like tools. 8)
Things turn out best for people who make the best of how things turn out.

Offline old3dogg

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Re: Credit cards
« Reply #10 on: March 28, 2006, 05:29:36 PM »
I use my debit card as my credit card. Works the same way to buy things or rent things but no interest or late fees. This way I cant over spend my budget. I can only spend the money I have.
There are no charges through the bank to use my card.
I will never have another "credit" card.

Offline tnlogger

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Re: Credit cards
« Reply #11 on: March 28, 2006, 06:00:45 PM »
Same here all I use is a debit card. if ya dont have it in the back ya cant spend it  :D
gene

Offline ely

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Re: Credit cards
« Reply #12 on: March 29, 2006, 09:07:13 AM »
i do not own a credit card, i do however have a couple accounts that i am paying from when i was stoooopid enough to play their game. not anymore for me, i pay cash for everything and if they do not like  my checks then i do not need their  product. it is a sore spot with me and i have no room for compromise.

on the other hand, i used to get 8 credit card offers perday in the mail, and since i started mailing them all back in i now get only one or two per month. i use the return postage envelopes and fill them up to the point of bursting. i use scissors to cut the other mail up into small pieces that way you can fit more into it. i have perfected the system and can consistently get$ 2.85 worth of "literature" in each envelope. and thats just face value that the mail clerks tell me. they are actually higher when they access the penalty for going over the weight limit on bulk mail pricing. if they send you any of the post card type business reply cards, they are better as you can tape them to heavy objects like bricks and tile that were left over from construction sites. and the post office is required to deliver and charge them accordingly. some may say its mean but i say its payback time for those late payment fees that they would not refund. just my little way of sticking it to the man. :D

credit card companys will reverse those late charges a couple three times, but after that its tough luck. mine were delievered late by mail and then they started raising the interest rate because i had two late fees in a certain time frame. a win win situation for the man holding the note. it is a simple matter of greed. i think there was a story of a man back in history that spent a life in prison for charging an outlandish interest fee of what. 5% now look at it.


Offline mometal77

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Re: Credit cards
« Reply #13 on: March 31, 2006, 12:31:31 AM »
Heck they send credit cards too kids that dont even know how too read let alone walk.  And they have better credit i guess then the parents.  The county also sends juror notices to kids.   If they rip up the letter or the parents do.   Later on the child gets a drivers license and they have a warrant out for there arrest.  For not showing.  I just got stung with a late charge on my credit card.  I sent them a check last month and just got a late fee in the mail and when too pay next.  I think credit cards are just as much a scam as the irs is.  The new scam is when kids are at college the parents use the credit cards forge there kids names and scam it.  Here is one for you guys.   My father retired for the union down in the states.  Now he transfered to british columbia to work in the union up there over it is non juristictional.  Double dipping i guess.  Now he just did his taxes.  He was taxed in canada and when he did his taxes in the states they retaxed him in the states.. TOTAL BS I THINK.. what a scam...
Too many Assholes... not enough bullets...ďI might have become a millionaire, but I chose to become a tramp!

Offline jon12345

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Re: Credit cards
« Reply #14 on: March 31, 2006, 02:15:07 AM »
My debit is my only credit card, most of the time pay cash.  I get a lot of pre approvals in the mail, they have an opt out number if you don't want to recieve any more pre screened offers.  If i didn't throw that garbage away I'd post it.  I think its a law now that the number be included with all that junk.


A.A.S. in Forest Technology.....Ironworker


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