Credit card ?

[Porkchop]

Quick question on credit cards...

My statement dates run from March 14th - April 13th. My payment date is the 8th of every month. I have always carried a big balance so I never ran into this problem. On March 8th I paid the balance of my card in full, so my statement on March 13th shows $0. Fast forward to today. Today is the 8th of course and my payment day. Since I paid off the card, I have accrued $133.89 to date. I go on to make a payment and the site says I owe $0 because the statement of last month was $0. For the current balance of $133.89 does interest hit at the time of statement (April 13th) or after next month's pay date (May 8th).

So this is all leading to.... should I just pay it off today/before the 13th, or will I not have interest on that balance until next pay date?

Thanks! :dthumb:

[Cutty72]

You have to pay the "statement balance" every month in order to avoid paying interest.

Great job on getting it down to a point that you can pay it off every month, hope you can keep it there, its very gratifying.

[Porkchop]

You have to pay the "statement balance" every month in order to avoid paying interest.

Great job on getting it down to a point that you can pay it off every month, hope you can keep it there, its very gratifying.

I actually paid 2 off. One that was substantial and another that was a few hundred bucks. Other than vehicles.... never going back.

[Rangerscott]

I just use a $1k for gas. Thi.king about upping it to $2k so I can use it for internet purchasing so I can get a.refund.if.I get.hosed.

[Porkchop]

I just use a $1k for gas. Thi.king about upping it to $2k so I can use it for internet purchasing so I can get a.refund.if.I get.hosed.

The big one had a $2000 limit. I paid it off and two days later Discover sends me an email saying they had bumped it to $3000. :lol:

[Rangerscott]

Shit nigga if theys just gonna give u all that extra money you shpuld max that bitch out and then toss it in tye trash. They come after you for repayment you tell them hoes it was gifted to you.

I did order a crate of ammo wo I have to pay that off this installment. Ugh.

[Cutty72]

I can't remember when my cards had under a 8K limit...
With that, I have never maxed one out either, can't imagine having to pay that off!

[Porkchop]

Yeah, I'm relatively young and building credit. The Duc was my first loan approved by myself. Shit even 2 years ago my mom had to cosign my lease on my Soul.

Speaking of my mom, crazy insane credit limit. She pays off her card every month, but her card limit is like 37k. Ridiculous...

[OneSickPsycho]

Yeah, I'm relatively young and building credit. The Duc was my first loan approved by myself. Shit even 2 years ago my mom had to cosign my lease on my Soul.

Speaking of my mom, crazy insane credit limit. She pays off her card every month, but her card limit is like 37k. Ridiculous...

Stop paying off your cards... If you carry a balance every month, as long as you remain current on it and avoid finance charges, it helps your credit. I'll pay mine down to $1 sometimes when I get a bonus or something, but otherwise there's always a balance. I use my cards for everything and monitor my rewards to max them between two cards. I should bring in close to $1500 this year in cash back.

[tommymac]

I can't remember when my cards had under a 8K limit...
With that, I have never maxed one out either, can't imagine having to pay that off!

Same here, I keep getting stuff for cards with a 15k limit. bad enough mine took a hit and is aorund 2k right now, but between some stuff from sandy then my car needing work it sone of those necessary evils, but I cant wait to get that and the car and bike payments eliminated.

[shmike]

Stop paying off your cards... If you carry a balance every month, as long as you remain current on it and avoid finance charges, it helps your credit. I'll pay mine down to $1 sometimes when I get a bonus or something, but otherwise there's always a balance. I use my cards for everything and monitor my rewards to max them between two cards. I should bring in close to $1500 this year in cash back.

Please clarify for the young bucks.

I think I get what you are trying to say, but the advice to "stop paying off your cards" is generally bad.

Unless, you have an introductory 0% rate, if you are carrying a balance, then you are paying financing charges.

If you are jumping from card to card to keep getting those 0% rates while carrying a balance, then you are in debt. Telling yourself you are "building credit" is making your problem worse.

[dubbs]

I think he just means that paying the statement balance, which still leaves a balance afterward, and avoids paying any finance charges.. For my chase gas card - they have a convenient option to automatically pay the statement balance only, which at the end of each month still leaves 100-150$ on there and i've never paid a finance charge on the card in 8+ years I've had it.

That said - when I get 0% cards I rack up all the purchases then calculate my monthly to fully pay it off before the finance charges start.

[OneSickPsycho]

I think he just means that paying the statement balance, which still leaves a balance afterward, and avoids paying any finance charges.. For my chase gas card - they have a convenient option to automatically pay the statement balance only, which at the end of each month still leaves 100-150$ on there and i've never paid a finance charge on the card in 8+ years I've had it.

That said - when I get 0% cards I rack up all the purchases then calculate my monthly to fully pay it off before the finance charges start.

This. I thought it was apparent based on the original topic, but thanks for clarifying dubbs.

As long as you pay as much or more on your card as you've spent in the previous cycle, you can avoid finance charges. One of my cards generally carries about $1,000 at all times... I've never had a finance charge on that card...

[OneSickPsycho]

Oh and fuck 0% intro cards... most of them suck for rewards... Like I said, I maximize my shit...

Two cards...

Amazon Visa - always 3% on Amazon, 2% on gas/restaurants/drugstore/office supplies, 1% on everything else

Chase Freedom - quarterly promotions for 5% cash back (currently Lowes, restaurants, movies... plus 10% bonus points at the end of the year.

I used to use my Discover Card too, but I found that the Freedom card mirrors their quarterly 5% cash back rotation...

I keep a sliver of a sticky note in my wallet to remind me which card to use for what to max out my rewards. I used to get anywhere from $500 to $1000 cash back each year... since I'm paying attention to it now, I expect to hit $1500 this year.

[shmike]

I think he just means that paying the statement balance, which still leaves a balance afterward, and avoids paying any finance charges.. For my chase gas card - they have a convenient option to automatically pay the statement balance only, which at the end of each month still leaves 100-150$ on there and i've never paid a finance charge on the card in 8+ years I've had it.

That said - when I get 0% cards I rack up all the purchases then calculate my monthly to fully pay it off before the finance charges start.

This. I thought it was apparent based on the original topic, but thanks for clarifying dubbs.

As long as you pay as much or more on your card as you've spent in the previous cycle, you can avoid finance charges. One of my cards generally carries about $1,000 at all times... I've never had a finance charge on that card...

That's what I though but wanted clarification for those less versed.

It used to drive me crazy when my wife would pay "outstanding balance" rather than "statement balance."

[dubbs]

Oh and fuck 0% intro cards... most of them suck for rewards... Like I said, I maximize my shit...


I needed to spend about 10k on home improvements.. I got a 0% for 24 months.. worked for me..

[tommymac]

I needed to spend about 10k on home improvements.. I got a 0% for 24 months.. worked for me..

Storm damage? I was/am using my lowes card for most of my bigger purchases for the 5% off then pay it next month. I wa susing my citi rewards card similar to OTB untill I racked up a larger balance and need to pay that of ffirst.

In the past I played the balance transfer or 0% game to pay off the larger debt I had and it worked rather well. Either I had enough time to pay it off and if not another offer would have come up and I would switch it to there.

[OneSickPsycho]

I needed to spend about 10k on home improvements.. I got a 0% for 24 months.. worked for me..

Yeah, I should have chosen my words more wisely... That's about the only thing they're good for. Big purchases, special circumstances, etc... I just opened a Goodyear card when I put tires on my truck to take advantage of paying on it for 6 months with zero interest rather than taking the big hit all at once.

For general use though, those 0% deals give you a crap card...

[shmike]

For general use though, those 0% deals give you a crap card...

It's a trade-off.

You get to choose great rewards or a low rate, not both.

[dubbs]

Storm damage? I was/am using my lowes card for most of my bigger purchases for the 5% off then pay it next month. I wa susing my citi rewards card similar to OTB untill I racked up a larger balance and need to pay that of ffirst.

In the past I played the balance transfer or 0% game to pay off the larger debt I had and it worked rather well. Either I had enough time to pay it off and if not another offer would have come up and I would switch it to there.

No storm damage, just completely redoing the inside of the house. Put down wood floors, tile, ton of sheet rock, new door, sliding glass door, etc.

Got a nice 0% loan from my dad to do the exterior of the house - siding and gutters.

And a 4 yr 0% loan for all new furniture from raymore n flannigan.

[Porkchop]

Stop paying off your cards... If you carry a balance every month, as long as you remain current on it and avoid finance charges, it helps your credit. I'll pay mine down to $1 sometimes when I get a bonus or something, but otherwise there's always a balance. I use my cards for everything and monitor my rewards to max them between two cards. I should bring in close to $1500 this year in cash back.

I paid it off to start fresh. I just want to stay current and avoid interest charges. As much as I love Discover and their services, the 16.99% interest is retarded.

I just cashed in $100 in Discover cashback in a Kia gift card. Gave me an extra $50 on top of the $100. My 30k service is coming up in July. $$$ :panic:

[Rangerscott]

I just pay off each cycle. As I said I just mainly use it as a gas card. Sadly it adds up when youre driving a 93 F150 w/ 5.0L. For awhile there were whole street gas wars going on. Havent seen it happen in a month now. It was great when they finally opened a Murphy station that wasnt attached to walmart. That lasted a good while.

[fasternyou929]

Quick question on credit cards...

My statement dates run from March 14th - April 13th. My payment date is the 8th of every month. I have always carried a big balance so I never ran into this problem. On March 8th I paid the balance of my card in full, so my statement on March 13th shows $0. Fast forward to today. Today is the 8th of course and my payment day. Since I paid off the card, I have accrued $133.89 to date. I go on to make a payment and the site says I owe $0 because the statement of last month was $0. For the current balance of $133.89 does interest hit at the time of statement (April 13th) or after next month's pay date (May 8th).

So this is all leading to.... should I just pay it off today/before the 13th, or will I not have interest on that balance until next pay date?

Thanks! :dthumb:

You will not receive any interest charges if you do not make a payment this month. Somewhere in your credit card agreement there is a "minimum grace period" for all new purchases and it's usually on the order of 28 days or so.

What that translates to is: "thou shalt not accrue interest charges for at least xx days from the date of purchase." Thus, any charges you make through April 13th will not be subject to interest until you carry the balance beyond your May statement. If you pay your accrued purchases in full then, there will be no interest charges.

The only time you see this prolonged gap in payments on a credit card are 1. when you get a new card and 2. when you have a $0 on a previous billing cycle.

Paying your "statement balance" each month will not result in a $0, you're just paying the charges from previous month to avoid finance charges on them. In that scenario you will start making a payment each month and will not see the extended gaps in payment again.

BTW - congrats on paying off your cards!! Do yourself a favor and get a rewards card that offers you cash back or incestives for purchases you make regularly; you won't believe how much people are willing to give you for simply spending money with them. :) Now that you know how quickly you can get upside-down with CC's, you'll likely be responsible and will avoid repeating this scenario at all costs. Enjoy the feeling of having a massive weight lifted from your shoulders, and tons of extra discresionary income!

[tommymac]

You will not receive any interest charges if you do not make a payment this month. Somewhere in your credit card agreement there is a "minimum grace period" for all new purchases and it's usually on the order of 28 days or so.

What that translates to is: "thou shalt not accrue interest charges for at least xx days from the date of purchase." Thus, any charges you make through April 13th will not be subject to interest until you carry the balance beyond your May statement. If you pay your accrued purchases in full then, there will be no interest charges.

The only time you see this prolonged gap in payments on a credit card are 1. when you get a new card and 2. when you have a $0 on a previous billing cycle.

Paying your "statement balance" each month will not result in a $0, you're just paying the charges from previous month to avoid finance charges on them. In that scenario you will start making a payment each month and will not see the extended gaps in payment again.

BTW - congrats on paying off your cards!! Do yourself a favor and get a rewards card that offers you cash back or incestives for purchases you make regularly; you won't believe how much people are willing to give you for simply spending money with them. :) Now that you know how quickly you can get upside-down with CC's, you'll likely be responsible and will avoid repeating this scenario at all costs. Enjoy the feeling of having a massive weight lifted from your shoulders, and tons of extra discresionary income!

I guess the companies suck in enough people with rewards and other perks that they still make money with the high rates and on people who carry balances that its ok to have people like osp that milk them for as much as they can. I was doing that to a smaller degree with my card untill I had to rack up a balance. Plus in NY its not as beneficial with gas since many stations now charge more for credit vs debit or cash purchases.

[fasternyou929]

I guess the companies suck in enough people with rewards and other perks that they still make money with the high rates and on people who carry balances that its ok to have people like osp that milk them for as much as they can. I was doing that to a smaller degree with my card untill I had to rack up a balance. Plus in NY its not as beneficial with gas since many stations now charge more for credit vs debit or cash purchases.

Yeah, it's not a one-size-fits-all solution. NC hasn't started charging more for gas purchases on credit, so 5% back on that still translates to about $400 per year for me.

And even if everyone milked the CC companies like OTP, they would still probably make money. They skim off the top of EVERY single transaction they process (AmEx takes the most and it's why not everybody accepts them), so even on a rewards card where the balance is paid off monthly the CC company is coming out ahead. The rest is icing on the cake.

[tommymac]

Yeah, it's not a one-size-fits-all solution. NC hasn't started charging more for gas purchases on credit, so 5% back on that still translates to about $400 per year for me.

And even if everyone milked the CC companies like OTP, they would still probably make money. They skim off the top of EVERY single transaction they process (AmEx takes the most and it's why not everybody accepts them), so even on a rewards card where the balance is paid off monthly the CC company is coming out ahead. The rest is icing on the cake.

I would figure as much. Before we bought the house my wife racked up some serious CC bills (and with nothing to show for it) back then those balance transfers were free. I guess enough people were like me and took full advantage of them so the CC company made no money, then I saw they started tacking on fees for them, so at lest they were guaranteed to get soem money.

Its a mix with the gas stations here. A few charge the same price but others dont and within my area the price can vary by a smuch as 15 cents a gallon so I usualy go where its cheapest, but with the bike its easier to pay via Cc so I can fill up to whatever amt it is.

[shmike]

And even if everyone milked the CC companies like OTP, they would still probably make money. They skim off the top of EVERY single transaction they process (AmEx takes the most and it's why not everybody accepts them), so even on a rewards card where the balance is paid off monthly the CC company is coming out ahead. The rest is icing on the cake.

Yep. This is what so many people don't understand.

The interest that balance carriers pay is just gravy. Interchange fees are charged on every single transaction involving a credit card. These fees are paid by the merchant.

The companies charge a higher fee when they are giving out better benefits. So, if you paid $5 for your Subway on your no perks Visa, the company might only see $4.95. If you paid $5 on your 5% cash back Visa Subway might get $4.92.

The banks got in on this some years back which is when they all started pushing Debit cards. Then Barney Frank cut the fees the banks could get from debit card transactions (in 2010) and that's why you've seen so many new bank fees and higher minimums on "Free" bank accounts in the last few years.

And now you know...

[tommymac]

Yep. This is what so many people don't understand.

The interest that balance carriers pay is just gravy. Interchange fees are charged on every single transaction involving a credit card. These fees are paid by the merchant.

The companies charge a higher fee when they are giving out better benefits. So, if you paid $5 for your Subway on your no perks Visa, the company might only see $4.95. If you paid $5 on your 5% cash back Visa Subway might get $4.92.

The banks got in on this some years back which is when they all started pushing Debit cards. Then Barney Frank cut the fees the banks could get from debit card transactions (in 2010) and that's why you've seen so many new bank fees and higher minimums on "Free" bank accounts in the last few years.

And now you know...

Seems like the gas stations are passing that fee back to the consumer, at least in NY, its usualy 8-10 cents a gallon higher than cash or debit and som elump debit in with the credit cards. And gas stations that chage the same for cash or credit tend to be a few cents higher anyway. I wouldnt be surprised if other merchants tried to do the same.

[Cutty72]

Seems like the gas stations are passing that fee back to the consumer, at least in NY, its usualy 8-10 cents a gallon higher than cash or debit and som elump debit in with the credit cards. And gas stations that chage the same for cash or credit tend to be a few cents higher anyway. I wouldnt be surprised if other merchants tried to do the same.

All merchants can now charge a fee for a cc purchase if they want. They just have to have that policy posted at the entrance as well as at the register and on the receipt.

[tommymac]

All merchants can now charge a fee for a cc purchase if they want. They just have to have that policy posted at the entrance as well as at the register and on the receipt.

is that a state thing or nationwide. I figured either way they will pass the costs back onto the consumer when they can.

[Cutty72]

is that a state thing or nationwide. I figured either way they will pass the costs back onto the consumer when they can.

Nation wide. We got a memo about it at work on how to handle those charges on work purchases.
I haven't seen anyone implement it yet, besides a minimum purchase amount to use a card, or the cash/credit fuel price, but I'm sure it's coming.

[Homeslice]

Oh and fuck 0% intro cards... most of them suck for rewards... Like I said, I maximize my shit...

Two cards...

Amazon Visa - always 3% on Amazon, 2% on gas/restaurants/drugstore/office supplies, 1% on everything else

Chase Freedom - quarterly promotions for 5% cash back (currently Lowes, restaurants, movies... plus 10% bonus points at the end of the year.

I used to use my Discover Card too, but I found that the Freedom card mirrors their quarterly 5% cash back rotation...

I keep a sliver of a sticky note in my wallet to remind me which card to use for what to max out my rewards. I used to get anywhere from $500 to $1000 cash back each year... since I'm paying attention to it now, I expect to hit $1500 this year.

OK let's say that you averaged 4% cash back across all your purchases (and that's being generous, since I'm sure most of your transactions only give you 2-3%)..........You would still need to charge $37,500 (more than $3K per month) to get back $1,500. Do you seriously charge that much per month? On what?

[Rangerscott]

Thats a lot of porn.

Im gonna look into a cash back card. Something back is better than nothing back.

[Cutty72]

OK let's say that you averaged 4% cash back across all your purchases (and that's being generous, since I'm sure most of your transactions only give you 2-3%)..........You would still need to charge $37,500 (more than $3K per month) to get back $1,500. Do you seriously charge that much per month? On what?

Every dollar I spend, less the mortgage payment, goes on a credit card and gets paid off every month.
If he's doing it right and maxing the 5% stuff, I can see it.

[Homeslice]

Every dollar I spend, less the mortgage payment, goes on a credit card and gets paid off every month.
If he's doing it right and maxing the 5% stuff, I can see it.

I can see if you're a homeowner, spending on home improvements........or you have a business on the side that you're spending for.......Otherwise I can't see $3K a month on credit cards unless you're a baller who goes out every night. redflip

[LeeNetworX]

I can see if you're a homeowner, spending on home improvements........or you have a business on the side that you're spending for.......Otherwise I can't see $3K a month on credit cards unless you're a baller who goes out every night. redflip

It's incredibly easy to spend at least that much monthly, especially if you own a home, any toys, and/or have kids.

I pay a lot of bills with one of my reward cards. Gas, groceries, utility bills, lawn care bills, insurance, vet bills, Dr. visits, online purchases, misc. expenses, child expenses, reimbursable work expenses (including travel), clothing, leisure expenses, maintenance expenses, etc.

Anything that can't be paid via credit card is done through online bill-pay, automatic deduction or the occasional paper check I must write.

[OneSickPsycho]

OK let's say that you averaged 4% cash back across all your purchases (and that's being generous, since I'm sure most of your transactions only give you 2-3%)..........You would still need to charge $37,500 (more than $3K per month) to get back $1,500. Do you seriously charge that much per month? On what?

$1,500 is a lofty goal and I hadn't done the math... I still think it's possible.

And what do I spend it on? Cable/internet, cell phone, insurance, and water bills are all set up on the CC. And I literally use it for every other purchase... all of them.

Also, I get a 10% bonus in points at the end of the year... that helps... Another thing that helps ever so slightly is the fact that they round up for every dollar when assigning points. For example. $4.00 is 4pts, whereas $4.01 is 5pts.

I can see if you're a homeowner, spending on home improvements........or you have a business on the side that you're spending for.......Otherwise I can't see $3K a month on credit cards unless you're a baller who goes out every night. redflip

There's that too. We're doing some home improvements and whatever isn't sourced on CL, is going on a card.

It's incredibly easy to spend at least that much monthly, especially if you own a home, any toys, and/or have kids.

I pay a lot of bills with one of my reward cards. Gas, groceries, utility bills, lawn care bills, insurance, vet bills, Dr. visits, online purchases, misc. expenses, child expenses, reimbursable work expenses (including travel), clothing, leisure expenses, maintenance expenses, etc.

Anything that can't be paid via credit card is done through online bill-pay, automatic deduction or the occasional paper check I must write.

Yep, do all the work stuff through it as well... and vacations are another good one. We save for vacations, home improvements, etc... so all those card purchases are backed with cash. ANY time I can use my CC instead of cash/check, it's used. In fact, when it comes time to write an actual check, it takes me about 15 minutes to even find the checkbook. I've had that account for 5 years and I'm on the 50th check or so...

[Homeslice]

Work stuff doesn't count redflip
Seems like your employers should be issuing you corporate cards.

And if I was your utility company, I would refuse to accept CC because of the merchant fees. I'd require you to use auto-deduct from your checking account instead. And you wouldn't have any choice, because I'm the only game in town if you want your lights on. redflip

Also, I get a 10% bonus in points at the end of the year
That's 10% of the points, right? So for example if you had earned a total of $1000 cashback, it's now $1100.

[OneSickPsycho]

Work stuff doesn't count redflip
Seems like your employers should be issuing you corporate cards.

And if I was your utility company, I would refuse to accept CC because of the merchant fees. I'd require you to use auto-deduct from your checking account instead. And you wouldn't have any choice, because I'm the only game in town if you want your lights on. redflip


That's 10% of the points, right? So for example if you had earned a total of $1000 cashback, it's now $1100.

Work stuff does count... doesn't happen very often, but I buy some things for the sales floor every couple of months and travel 1-2x per year... all on card. Some have the corporate Amex, but I don't...

My electric company would charge me to use my CC... fuck that.

Yes, 10% of points. They used to give it to you every statement along with a point for every purchase... changed that a few months back.

[LeeNetworX]

Work stuff doesn't count redflip
Seems like your employers should be issuing you corporate cards.



Sure it does. And why should I use a corporate card when I can get a benefit from using my own? And work is just a small percentage in my case - only 1-2 trips per quarter and an occasional sub-$1K purchase.

[Homeslice]

My electric company would charge me to use my CC... fuck that.


I am surprised your water company lets you.

Businesses accept CC because they think it will help attract/retain customers due to the increased convenience. Restaurants for example. Even fast food places finally woke up and started accepting them because they realized they were losing customers who didn't have cash on them at the time.

But with a water company, there's probably no other game in town, so why should they offer that convenience at their expense?

Same with cable, I mean I really doubt people would cancel their Comcast if they were forced to use bank acct deductions instead of CC.

[OneSickPsycho]

I am surprised your water company lets you.

Businesses accept CC because they think it will help attract/retain customers due to the increased convenience. Restaurants for example. Even fast food places finally woke up and started accepting them because they realized they were losing customers who didn't have cash on them at the time.

But with a water company, there's probably no other game in town, so why should they offer that convenience at their expense?

Same with cable, I mean I really doubt people would cancel their Comcast if they were forced to use bank acct deductions instead of CC.

Less paperwork, more automated... saves money. AND, more importantly, it ensures timely payments... I know for my company, we prefer CC because of these things... the cost is minimal compared to chasing customers down for payments...

[shmike]

Less paperwork, more automated... saves money. AND, more importantly, it ensures timely payments... I know for my company, we prefer CC because of these things... the cost is minimal compared to chasing customers down for payments...

Right.

A 2-ish% fee is nothing when you know you are going to get paid each month on time and not have to send the collection squad out every 30 days.

[fasternyou929]

OK let's say that you averaged 4% cash back across all your purchases (and that's being generous, since I'm sure most of your transactions only give you 2-3%)..........You would still need to charge $37,500 (more than $3K per month) to get back $1,500. Do you seriously charge that much per month? On what?

I can see if you're a homeowner, spending on home improvements........or you have a business on the side that you're spending for.......Otherwise I can't see $3K a month on credit cards unless you're a baller who goes out every night. redflip

:lol I can't remember the last cc bill I had that was under $3k, and that's not including any work-related charges. Day to day expenses, a wife that likes to shop, and a few hobbies here and there can grind through $36k a year in a blink.

WTF do you do all year that $3k/month seems exhorbitant? Play XBox? :lol

[Rangerscott]

Id be broke in no time if I spent $3k a month.

If I was to get a cash back card, who should I go with? Ive always had visa and never have a problem with anyone not accepting them.

[Cutty72]

Sure it does. And why should I use a corporate card when I can get a benefit from using my own? And work is just a small percentage in my case - only 1-2 trips per quarter and an occasional sub-$1K purchase.

Exactly, I use my own for work stuff too. I could use my company card, and they would pay the balance. Instead I use my own and get reimbursed.
I guess if one were living paycheck to paycheck it could be bad, but I can cover the costs until I get paid back.

[Cutty72]

I am surprised your water company lets you.

Businesses accept CC because they think it will help attract/retain customers due to the increased convenience. Restaurants for example. Even fast food places finally woke up and started accepting them because they realized they were losing customers who didn't have cash on them at the time.

But with a water company, there's probably no other game in town, so why should they offer that convenience at their expense?

Same with cable, I mean I really doubt people would cancel their Comcast if they were forced to use bank acct deductions instead of CC.

Our city (water, sewer, garbage) and gas bills *can* be paid w/ a cc, for a 5% fee. They get paid by check.

[fasternyou929]

Id be broke in no time if I spent $3k a month.

If I was to get a cash back card, who should I go with? I've always had visa and never have a problem with anyone not accepting them.

Depends on your spending habits, but the best two for me we're AmEx Blue Cash and Citibank MasterCard Dividends. Rewards are capped at $300 per year on the MC, and AmEx gives a smaller rebate % for the first $6,500 you spend each year. Otherwise they were comparable

That was years ago though and terms and conditions change all the time. Best thing to do is search around to see what offers you the best cash back based on your spending habits.

[Porkchop]

:lol I can't remember the last cc bill I had that was under $3k, and that's not including any work-related charges. Day to day expenses, a wife that likes to shop, and a few hobbies here and there can grind through $36k a year in a blink.

WTF do you do all year that $3k/month seems exhorbitant? Play XBox? :lol

$3,000??? I don't even MAKE fucking $3,000 in a month. Jesus. I mean I pull a lot of stuff straight from my bank card rather than to the cc. But even if I wouldn't my cc bill would only be about $350-$450 :wtf:.

[Homeslice]

I guess living in the South has its benefits, what's your mortgage, only $1500/mo?

Also I an accustomed to large employers, they don't want you using your personal card, it's against policy. Why would they go to the trouble of issuing corporate cards and creating an intranet portal that automatically uploads your charges onto a T&E form if you're not going to use it?

[shmike]

$3,000??? I don't even MAKE fucking $3,000 in a month. Jesus. I mean I pull a lot of stuff straight from my bank card rather than to the cc. But even if I wouldn't my cc bill would only be about $350-$450 :wtf:.

Welcome to the world of grown-ups.

$350-$450 wouldn't fill my truck with gas for a month let alone my wife's car, bike, lawn mower, etc.

I'm with Faster, we have nearly $2k a month hitting our cc in recurring charges before the card ever leaves my wallet!

[shmike]

I guess living in the South has its benefits, what's your mortgage, only $1500/mo?



You mean bi-weekly?

[Homeslice]

You mean bi-weekly?

OK, well, 3,000 sq ft? Nice lawn? You pay to play.

Also, 2 people sharing a card is a different story, and wasn't my original line of thought.

[shmike]

Also, 2 people sharing a card is a different story.

This is true.

Of course I was spending that when I was single but I was buying race tires and hotel rooms instead of diapers and furnishings.

[LeeNetworX]

I guess living in the South has its benefits, what's your mortgage, only $1500/mo?

Also I an accustomed to large employers, they don't want you using your personal card, it's against policy. Why would they go to the trouble of issuing corporate cards and creating an intranet portal that automatically uploads your charges onto a T&E form if you're not going to use it?


Depends on the employer. I've worked for large companies that didn't care if you used company Amex cards or your own and I've also worked for companies that insisted.

Current employer has over 10,000 employees and they don't care. Typically only director level and higher bothers to get company Amex because they can easily amass large bills for team events, etc.

[Cutty72]

Welcome to the world of grown-ups.

$350-$450 wouldn't fill my truck with gas for a month let alone my wife's car, bike, lawn mower, etc.

I'm with Faster, we have nearly $2k a month hitting our cc in recurring charges before the card ever leaves my wallet!

Yep, I was in the same boat before the move. Now with the shorter commute it's not as bad, I get by with about $300/month in gas/diesel for myself.

[fasternyou929]

I guess living in the South has its benefits, what's your mortgage, only $1500/mo?
:lol I forgot anybody that lives outside Kalifornia lives in a shanty and makes minimum wage.

Kidding aside, no, it's significantly more than that.

Also I an accustomed to large employers, they don't want you using your personal card, it's against policy. Why would they go to the trouble of issuing corporate cards and creating an intranet portal that automatically uploads your charges onto a T&E form if you're not going to use it?
I haven't worked for a small company since 2002 but have used my personal card with all of them.

OK, well, 3,000 sq ft? Nice lawn? You pay to play.
More space than that, and definitely a nice, private lawn. No sense living outside the city if you're not going to capitalize on the perks.

Also, 2 people sharing a card is a different story, and wasn't my original line of thought.
Same as shmike for me here; my spending habits have changed but I spent the same amount before we all grew up and became parents. Track days alone were about a $2k-$2500 per month habit during riding season. Throw in a few other hobbies, big vacations, and money goes fast.

[Porkchop]

Welcome to the world of grown-ups.

$350-$450 wouldn't fill my truck with gas for a month let alone my wife's car, bike, lawn mower, etc.

I'm with Faster, we have nearly $2k a month hitting our cc in recurring charges before the card ever leaves my wallet!

Part of me says that's your fault for having a vehicle that sucks that much gas... :lol. Mower gas? How much lawn do you have... because I know our three acres may take 5-7 gallons a month, nothing that I would see substantially bumping your card.

But I guess if I look at it thoroughly, I don't have recurring charges coming from my cc's. My recurring charges come from my bank card. So add ~ $1050 on top of that.

[shmike]

Part of me says that's your fault for having a vehicle that sucks that much gas... :lol. Mower gas? How much lawn do you have... because I know our three acres may take 5-7 gallons a month, nothing that I would see substantially bumping your card.

I'm not looking for sympathy, just stating the facts. My fuel bill is less than half of what it once was but normal commuting, a few weekend trips and a trackday or two keeps me around the $4-500 mark.

I just threw the mower in there for laughs. I have a normal suburban yard. Since we fired the lawn guy, the mower can usually get by on whatever is left in my "track" tank.

I had a rental car recently that got great mileage. Filling a tank for $35 was nice but pulling 9k lbs would be tough. :lol:

But I guess if I look at it thoroughly, I don't have recurring charges coming from my cc's. My recurring charges come from my bank card. So add ~ $1050 on top of that.

See? On <$3k a month your "plastic" charges are about $1500. To each their own, but if you are diligent enough to not abuse a cc, I'd seriously consider moving those bank card charges to credit, for a number of reasons.

[Porkchop]

I had a rental car recently that got great mileage. Filling a tank for $35 was nice but pulling 9k lbs would be tough. :lol:

Most likely would be tough. :lol: Mine can pull a single motorcycle/waverunner/light camper, but that's about it. But I can still fill up for $35 and get 36 on the highway. :wink:



See? On <$3k a month your "plastic" charges are about $1500. To each their own, but if you are diligent enough to not abuse a cc, I'd seriously consider moving those bank card charges to credit, for a number of reasons.

I never really consider fixed stuff as a plastic charge though, it's straight form my bank on auto pay. I'm getting 1/2 mortgage, 2 vehicle payments, 2 insurance, AEP and cable/int in there. But I see what you mean. Other than the boost in cash back, what benefits would there be???

[Cutty72]

I never really consider fixed stuff as a plastic charge though, it's straight form my bank on auto pay. I'm getting 1/2 mortgage, 2 vehicle payments, 2 insurance, AEP and cable/int in there. But I see what you mean. Other than the boost in cash back, what benefits would there be???

You get to keep the money in your bank account a little bit longer... That's about it.

[shmike]

I never really consider fixed stuff as a plastic charge though, it's straight form my bank on auto pay. I'm getting 1/2 mortgage, 2 vehicle payments, 2 insurance, AEP and cable/int in there. But I see what you mean. Other than the boost in cash back, what benefits would there be???

You originally said bank card so I was thinking ATM/Debit card. Mortgage and car payments probably aren't going to allow for a cc though. :lol:

The visible benefits are cash back/points/building stronger credit, etc. My biggest reason for always using credit is theft protection. If someone racks up a bunch of charges on your credit card, your life is not interrupted as you get things straightened out.

If someone gets hold of your bank/atm card, they can wipe you out, especially if you don't keep a large balance in the account. Banks are usually pretty helpful and any VISA/MC branded card has the same fraud coverage as most CC's but it can take weeks to undo the damage. Meanwhile, you still have bills to be paid and checks that will be cashed, whether there is money in the account or not.

[OneSickPsycho]

You originally said bank card so I was thinking ATM/Debit card. Mortgage and car payments probably aren't going to allow for a cc though. :lol:

The visible benefits are cash back/points/building stronger credit, etc. My biggest reason for always using credit is theft protection. If someone racks up a bunch of charges on your credit card, your life is not interrupted as you get things straightened out.

If someone gets hold of your bank/atm card, they can wipe you out, especially if you don't keep a large balance in the account. Banks are usually pretty helpful and any VISA/MC branded card has the same fraud coverage as most CC's but it can take weeks to undo the damage. Meanwhile, you still have bills to be paid and checks that will be cashed, whether there is money in the account or not.

Exactly. I cringe every time I see someone using their debit card... Had mine stolen twice, huge PITA.. Same thing happens with the CC, get a new one in two days and all is well with the world again...