Credit Cards - Page 2

AreYouReady? · #11 05-05-2012, 07:49 PM

Keep this in mind. It is the merchants who pay you your cash back by the banks charging them higher fees. Yes, the merchants have to pay a fee every time you buy something with a credit card. Rewards cards cost them the most money. This is one reason why prices keep going up and up.

Sweet Pea · #12 05-05-2012, 08:05 PM

Quote:

Originally Posted by AreYouReady?

Keep this in mind. It is the merchants who pay you your cash back by the banks charging them higher fees. Yes, the merchants have to pay a fee every time you buy something with a credit card. Rewards cards cost them the most money. This is one reason why prices keep going up and up.

I realize that - and I won't use my card at church functions for that reason - I have seen the charges for these cards; however, I really don't think it is making that much of a difference in what I am paying for fuel, groceries or at a restaurant. Maybe so - but I don't think so.

bbyrd009 · #13 05-05-2012, 09:17 PM

just so you know, it's possible to buy prepaid debit cards in foreign currencies.
Good way to diversify--you do have to use the card like once a year or something, but the exchange hit is like 2%. Um, if your currency is trending down and their currency is trending up...

Pressing-On · #14 05-05-2012, 09:25 PM

Quote:

Originally Posted by RandyWayne

I have a card from Bank of America, US Bank, and Chase. I ONLY use the US Bank one, but I use it for almost ALL purchases because it gets 1% cash back on most things (and 2 and 3 on others). It is 5-20 bucks a month in free money I wouldn't otherwise see.

I only use Chase. They have never raised my rate.

Discover is so stinking dishonest. I can't stand them. I know a whole lot of people who were ripped off by them. Raising and raising their rates when they were good cardholders and when you call - they DO NOT CARE! I told them to take a hike and cancelled my card with them.

Arphaxad · #15 05-05-2012, 09:43 PM

Quote:

Originally Posted by Pressing-On

I only use Chase. They have never raised my rate.

Discover is so stinking dishonest. I can't stand them. I know a whole lot of people who were ripped off by them. Raising and raising their rates when they were good cardholders and when you call - they DO NOT CARE! I told them to take a hike and cancelled my card with them.

wow, not my experience at all, they even gave me a decent apr for a personal loan.

AreYouReady? · #16 05-05-2012, 09:50 PM

I have had several cards that give you a no annual fee, but then the following year, I found a $39.99 "annual fee" on the statement.

I would call them up and tell them I do not pay anybody an annual fee to carry a credit card in my wallet. They usually take it off.

Once I was promised small percentage rate with a Bank for the life of the transfer. They then sold out to another bank, who would not honor the previous bank's "contract" with me. I transferred all my money back to my local bank and decided to quit biting all the baiting offers.

It was only then that I managed to pay everything off and not get into credit card debt again.

Sweet Pea · #17 05-05-2012, 11:14 PM

Quote:

Originally Posted by Pressing-On

I only use Chase. They have never raised my rate.

Discover is so stinking dishonest. I can't stand them. I know a whole lot of people who were ripped off by them. Raising and raising their rates when they were good cardholders and when you call - they DO NOT CARE! I told them to take a hike and cancelled my card with them.

WOW - not my experience with Discover at all!!!!! On more than one occasion, they have removed late fee AND interest charge when I didn't get my payment to them on time. A simple phone call and it was all removed. They have always been very courteous and respectful! We have used had Discover for probably 12 to 15 years. I don't think they have raised my interest rate - as we always pay it off in full. On the very rare occasion that we have had to put something on a card and take a couple of months to pay it off, we have a BofA Visa card with a VERY low rate - but we haven't done that in probably five years or more. Use that card about once a year, just to keep it active.

BrotherEastman · #18 05-06-2012, 12:29 PM

I think Chase is the best card I've ever had.

Scott Hutchinson · #19 05-06-2012, 01:19 PM

I can't recommend any credit cards personally I stay away from those things.

OnTheFritz · #20 05-07-2012, 05:51 AM

Quote:

Originally Posted by Scott Hutchinson

I can't recommend any credit cards personally I stay away from those things.

Try to book a hotel room or rent a car without one.

And I strongly discourage using debit cards for such things.

Nothing wrong with credit cards if you can manage them. If you can't, get an Amex with no revolving credit line.