Credit Cards - Page 3

Jay · #21 05-07-2012, 06:30 AM

Quote:

Originally Posted by Sweet Pea

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.

My parents had good credit with Chase, Discover, BOA, and possibly a couple of others. However, they raised fees and interest rates, and were difficult to get along with. I would not any of them if I had a choice. This is just our personal experience with these groups.

Rose · #22 05-07-2012, 07:03 AM

I am not sure of the interest rates charged with our Discover card or the Visa that we have for backup if merchant won't accept Discover. We use the credit cards for convenience of not carrying cash & easy way of tracking our spending habits; we pay the entire balances each month. Of course, the cash rewards with Discover are a bonus!

crakjak · #23 05-07-2012, 08:22 AM

Major brand debit cards carry the very same benefits as credit cards, and since the money is cash you are not tempted to spend more than you should. It is a fact, people spend 15% to 20% more when using credit vs debit.

You should read Dave Ramsey's book, "Total Money Makeover" before getting ANY credit card there is a different way of living. It is called "debt free", and it gives you the freedom to focus on life, instead of survival. Normal for most Americans is "broke". Fact is you pay for the bonuses, think about it, it will come to you.

Just saying. LOL

RandyWayne · #24 05-07-2012, 08:38 AM

I have to admit I splurged a bit on my new computer and will be running a balance on the ol CC for a few months (three to be precise).

But I like it!

MawMaw · #25 05-07-2012, 08:52 AM

Quote:

Originally Posted by OnTheFritz

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

And I strongly discourage using debit cards for such things.

Quote:

Originally Posted by Rose

We use the credit cards for convenience of not carrying cash & easy way of tracking our spending habits; we pay the entire balances each month. Of course, the cash rewards with Discover are a bonus!

Yes, those are some of the reasons we have decided to get a credit card. We did decide we'd go with the Discover Card.

AreYouReady? · #26 05-07-2012, 08:57 AM

Quote:

Originally Posted by crakjak

Normal for most Americans is "broke". Fact is you pay for the bonuses, think about it, it will come to you.

Just saying. LOL

LOL! You get it!

It's just a shell game that they pull over the people's eyes.

deacon blues · #27 05-07-2012, 09:36 AM

April 30 we made our last consolidation payment. Nearly five years of doing Dave Ramsey and we are finally debt free! We use a Visa debit card and cash. I can reserve hotels and rental cars with the Visa debit. Nothing like living within your means! And when Christmas is over, its over! There are no months of consequence following. When vacation is over it's over, no months of paying for it after! Cut up the credit cards and be set free!!!!

bbyrd009 · #28 05-07-2012, 12:02 PM

Amen!

Quote:

Originally Posted by OnTheFritz

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.

"...And they will not be able to buy or sell, them who have no mark
in their hand or forehead."

Sweet Pea · #29 05-07-2012, 12:15 PM

Quote:

Originally Posted by crakjak

Major brand debit cards carry the very same benefits as credit cards, and since the money is cash you are not tempted to spend more than you should. It is a fact, people spend 15% to 20% more when using credit vs debit.

You should read Dave Ramsey's book, "Total Money Makeover" before getting ANY credit card there is a different way of living. It is called "debt free", and it gives you the freedom to focus on life, instead of survival. Normal for most Americans is "broke". Fact is you pay for the bonuses, think about it, it will come to you.

Just saying. LOL

Crakjak - I am a total Dave Ramsey fan and support his plan of debt-free lifestyle living completely! However - although most brand name debit cards DO act like a regular credit card - it IS like cash and the money is instantly removed from your checking account. BUT after you have had your account cleaned out by fraudulent use of a debit card and have had to spend six months clearing up the mess and getting your name cleared with the bank and merchants that you had written real checks to (yes, some of us still write checks on occasion) - THEN and only then can you truly understand the advantage of having a credit card!! You can dispute the charges immediately - but you don't have the money out of your account while the dispute is being investigated. I check our credit card account AND our bank accounts online for fraudulent use at least every other day. But I learned this lesson a very hard way - once it is gone from the checking and/or savings account - it is VERY time-consuming to have the money returned by the bank - and then what do you do about your day-to-day living expenses?

The bottom line...... a person MUST learn discipline with their money. We spend no more using a credit card than we would if we were actually using cash (which is the real method that Dave Ramsey recommends). We are debt free and live on a fixed income. At this point in our lives - carrying a balance forward on a credit card would be an extreme emergency.

And BTW - most "debit" cards these days also offer rewards - so yes, you are paying for those rewards in the long run - but until everyone stops using these type of cards, you are still going to be paying for other people's rewards. JMHO

bbyrd009 · #30 05-07-2012, 12:27 PM

Quote:

Originally Posted by Sweet Pea

[COLOR="Red"]
...THEN and only then can you truly understand the advantage of having a credit card...

An awesome restatement of my post!

Quote:

Originally Posted by Sweet Pea

...At this point in our lives - carrying a balance forward on a credit card would be an extreme emergency...[/B]

Like, instead of trusting God, is what I'm reading.
I have another, more spiritual, bottom line for you...
but unfortunately, like most genuine bottom lines,
it is not going to jibe with our premises very well.