anybody heard of a 0 credit score

[Rider]

Originally Posted by shmike

Is that a credit card or a charge card?

I use their (AmEx) charge card and while I don't get money back it saved me almost $2k on our honeymon.

Credit card, you can carry a balance but the interest is real high. 28% I think so there is no way I'll ever carry balance on that card.

[fasternyou929]

Originally Posted by shmike

I use their (AmEx) charge card and while I don't get money back it saved me almost $2k on our honeymoon.

How's that? I'm always getting offers for free Gold cards for a year and reduced Platinums, but have a hard time turning down the cash back in order to pay a fee. But if it saved you $2k, it might suddenly make sense.

[the chi]

Originally Posted by shmike

Is that a credit card or a charge card?

I use their (AmEx) charge card and while I don't get money back it saved me almost $2k on our honeymoon.

Tell me about this! With a wedding to pay for and a honeymoon later, its a need to know! (My plan is to pay cash for everything, but I can set it aside to pay off a card later if the benefits are good enough)

[fasternyou929]

Originally Posted by The Chi

And havent you heard of that new nifty invention, the check card? With a CC logo so it can be used everywhere? Avoiding the need for cash or checkbooks? You can even get bonuses and miles depending on your bank.

Chi, just curious:

Originally Posted by fasternyou929

And for check cards v. credit cards: credit cards show up on your credit report, check cards don't. If I lose or someone gets hold of my credit card, my available cash isn't locked up and crucial payments (mortgage for example) don't bounce.

What is your argument for using a debit card instead of credit? Unless you don't trust yourself to spend within reason on a credit card?

[shmike]

Originally Posted by The Chi

Tell me about this! With a wedding to pay for and a honeymoon later, its a need to know! (My plan is to pay cash for everything, but I can set it aside to pay off a card later if the benefits are good enough)

Originally Posted by fasternyou929

Chi, just curious:

Amex has been my primary card for the last two years. I cashed in a FUCK load of points that offset the airfare and one of the resorts we stayed at.

[Homeslice]

I do feel sorry for merchants because they get hit with a 2-3% fee when someone uses a credit card. Do they pay the same fees with debit cards?

[shmike]

Originally Posted by fasternyou929

How's that? I'm always getting offers for free Gold cards for a year and reduced Platinums, but have a hard time turning down the cash back in order to pay a fee. But if it saved you $2k, it might suddenly make sense.

I remember talking about this.

I'd stick with the blue.

I have the Platinum currently but will probably not be renewing it next year. I got it for international travel benefits but for one trip a year, the benefits don't out weigh the costs, IMO.

[shmike]

Originally Posted by Homeslice

I do feel sorry for merchants because they get hit with a 2-3% fee when someone uses a credit card. Do they pay the same fees with debit cards?

Yes.

Sometimes the fees are less for debit cards but if it has a VISA/MC logo they are paying fees.

A portion of those fees go to the bank, which is why banks push debit cards so much.

[Amorok]

I have one credit card that I've never used. I pay no fees and the interest rate is under ten percent, I don't know how low because I've never looked. Ulu uses it or there would never be a balance.

[the chi]

Originally Posted by fasternyou929

Chi, just curious:

I already stated it, but again, having been in the position of having debt and credit cards I couldnt pay, not all at my own choice or by my own actions, so for me, its more of a "if I cant pay cash for it, I dont need it" type mindset when it comes to credit cards. Houses and vehicles are different obviously, and I am not afraid I wouldnt be able to "behave", I just dont feel it necessary to make purchases if I cant readily get my hands on the funds via on of my cash accounts.

Originally Posted by shmike

Amex has been my primary card for the last two years. I cashed in a FUCK load of points that offset the airfare and one of the resorts we stayed at.

Ahhh...like i said goober, if the benefits are worth it, like saving $2k on a wedding and honeymoon, I would go for it. But, keeping in mind that the whole time I would be keeping equal amounts of cash in a seperate account to pay it all off at any one time.

Originally Posted by Homeslice

I do feel sorry for merchants because they get hit with a 2-3% fee when someone uses a credit card. Do they pay the same fees with debit cards?

It depends on the program they have. If its got a CC logo they usually get charged the same fee whether its debit or credit. Many will charge you that fee in addition to the item or service to recoup their cost.