5thGenRams Forums

Register a free account today to become a member! Once signed in, you'll be able to participate on this site by adding your own topics and posts, as well as connect with other members through your own private inbox!

Do we have a issue with theft

NorthStar

Ram Guru
Joined
Oct 2, 2020
Messages
1,294
Reaction score
1,337
Location
Texas

Mountain Whiskey

Spends too much time on here
Joined
Mar 2, 2021
Messages
2,891
Reaction score
6,412
Speedy went and made it civil. Now my "Claws Out" meme doesn't make sense since there is no name calling and stuff! I am deleting it.

Party pooper!😉
 

BNeal

Well-Known Member
Joined
Jul 21, 2020
Messages
446
Reaction score
449
Location
NE Texas
you said " but the credit card company ate the $1000."

credit card companies eat nothing they charge us more
Still not exactly sure what you're referring too with "they charge us more". But if it's interest rates you're talking about, I pay my balance in full each month - so no interest is charged.
 

bigdodge

Happy Ram Owner
Joined
Aug 25, 2021
Messages
4,082
Reaction score
2,588
Location
southwest. where majority rules
Still not exactly sure what you're referring too with "they charge us more". But if it's interest rates you're talking about, I pay my balance in full each month - so no interest is charged.
do you pay a yearly fee?
interest rates are sky high and that is how they make up for any losses
you do know the credit card companies charge the merchant a fee to process the card
again they eat nothing they get paid back some where

you are a rare buyer, most everyone carries a balance
 

Jako

Spends too much time on here
Joined
Sep 8, 2018
Messages
2,797
Reaction score
1,702
Location
Borough of Parks
do you pay a yearly fee?
interest rates are sky high and that is how they make up for any losses
you do know the credit card companies charge the merchant a fee to process the card
again they eat nothing they get paid back some where

you are a rare buyer, most everyone carries a balance
 

Mountain Whiskey

Spends too much time on here
Joined
Mar 2, 2021
Messages
2,891
Reaction score
6,412
I was paying my card off every month. No balance on anything. I thought I was doing great. Then one day I checked into my credit score. It tanked! Why? I made good money and had no debt. Exactly. I started keeping a few hundred or so running on my oldest card. In no time, credit score was over 800 again.

Good credit is a good thing when you need it.
 

Southside

Active Member
Joined
Jul 22, 2021
Messages
107
Reaction score
126
Location
CT
This system from Ford looks interesting, basically a Ring camera for your truck. Link
 

BNeal

Well-Known Member
Joined
Jul 21, 2020
Messages
446
Reaction score
449
Location
NE Texas
do you pay a yearly fee?
interest rates are sky high and that is how they make up for any losses
you do know the credit card companies charge the merchant a fee to process the card
again they eat nothing they get paid back some where

you are a rare buyer, most everyone carries a balance
Sorry to derail the OP's question, but to answer your question, I have no cards that charge fees. And the only debt I carry is my truck payment and house payment. I HATE debt - and I HATE paying interest even more!
 

bigdodge

Happy Ram Owner
Joined
Aug 25, 2021
Messages
4,082
Reaction score
2,588
Location
southwest. where majority rules
Sorry to derail the OP's question, but to answer your question, I have no cards that charge fees. And the only debt I carry is my truck payment and house payment. I HATE debt - and I HATE paying interest even more!
then the merchant you are buying from is paying any fees
 

Jako

Spends too much time on here
Joined
Sep 8, 2018
Messages
2,797
Reaction score
1,702
Location
Borough of Parks
then the merchant you are buying from is paying any fees
Merchants are starting to pass the user fee to the card holder. I have found 3-4% for use of the credit card at several "neighborhood" stores and restaurants.
 

Aseras

Ram Guru
Joined
Mar 25, 2020
Messages
1,270
Reaction score
855
Sorry to derail the OP's question, but to answer your question, I have no cards that charge fees. And the only debt I carry is my truck payment and house payment. I HATE debt - and I HATE paying interest even more!
I have cards that charge fees. some $500+ a year. But to be sure, That card will "make" me $2000-3000 a year in perks, rebates and credits. I pay all my cards off monthly except a few I flip around for 0% transfers. I mostly do that to keep old cards from closing. Amex platinum is worth every cent, I travel a LOT.

My go to are amex plat ( travel perks and insurance and service credit, plus amex CS is the best ), chase sapphire preferred ( primary rental car coverage, travel perks ), sams club mastercard (5% back on gas).

It's not carrying a balance or not carrying a balance that knocks you. Its changing patterns. You get "bucketed" into categories. If you normally do X and suddenly do Y banks freak out. Its also use it or lose it. You have to keep your cards active. Put some bill on each card and have it on autopay. I have ridiculous limits I almost never use and I never carry a balance except for promo rates. Once you have a history of charging and paying off $3-5k a month on a card getting absurd limits is easy. Provided you are not manufacturing spending doing some scheme. I pretty much spend all of my money on cards and take the 3-6% cash back and pay the bills in full. Its free money, a discount on whatever. If someone isn't giving me a substantial discount for paying cash, its going on a card for the warranty and protection benefits alone, rebates just sweeten it.

You buy something on a card and it gets stolen the card will replace it. They will cover you for a cancelled flight, unexpected hotel stay or car rental accident ( most cards are secondary to any other insurance, primary coverage is a rare thing these days ). Bust your cell phone, or it gets stolen, credit for a new phone if you pay your bill with card. You need to look at it like that, rather than just another bill.
 

BNeal

Well-Known Member
Joined
Jul 21, 2020
Messages
446
Reaction score
449
Location
NE Texas
I have cards that charge fees. some $500+ a year. But to be sure, That card will "make" me $2000-3000 a year in perks, rebates and credits. I pay all my cards off monthly except a few I flip around for 0% transfers. I mostly do that to keep old cards from closing. Amex platinum is worth every cent, I travel a LOT.

My go to are amex plat ( travel perks and insurance and service credit, plus amex CS is the best ), chase sapphire preferred ( primary rental car coverage, travel perks ), sams club mastercard (5% back on gas).

It's not carrying a balance or not carrying a balance that knocks you. Its changing patterns. You get "bucketed" into categories. If you normally do X and suddenly do Y banks freak out. Its also use it or lose it. You have to keep your cards active. Put some bill on each card and have it on autopay. I have ridiculous limits I almost never use and I never carry a balance except for promo rates. Once you have a history of charging and paying off $3-5k a month on a card getting absurd limits is easy. Provided you are not manufacturing spending doing some scheme. I pretty much spend all of my money on cards and take the 3-6% cash back and pay the bills in full. Its free money, a discount on whatever. If someone isn't giving me a substantial discount for paying cash, its going on a card for the warranty and protection benefits alone, rebates just sweeten it.

You buy something on a card and it gets stolen the card will replace it. They will cover you for a cancelled flight, unexpected hotel stay or car rental accident ( most cards are secondary to any other insurance, primary coverage is a rare thing these days ). Bust your cell phone, or it gets stolen, credit for a new phone if you pay your bill with card. You need to look at it like that, rather than just another bill.
I should mention, I do have an AmEx, but my employer pays the annual fee - and I get to keep the points. ;-)
 

jdmartin

Ram Guru
Joined
Jan 25, 2019
Messages
1,103
Reaction score
1,211
Location
Southeast
I have cards that charge fees. some $500+ a year. But to be sure, That card will "make" me $2000-3000 a year in perks, rebates and credits. I pay all my cards off monthly except a few I flip around for 0% transfers. I mostly do that to keep old cards from closing. Amex platinum is worth every cent, I travel a LOT.

My go to are amex plat ( travel perks and insurance and service credit, plus amex CS is the best ), chase sapphire preferred ( primary rental car coverage, travel perks ), sams club mastercard (5% back on gas).

It's not carrying a balance or not carrying a balance that knocks you. Its changing patterns. You get "bucketed" into categories. If you normally do X and suddenly do Y banks freak out. Its also use it or lose it. You have to keep your cards active. Put some bill on each card and have it on autopay. I have ridiculous limits I almost never use and I never carry a balance except for promo rates. Once you have a history of charging and paying off $3-5k a month on a card getting absurd limits is easy. Provided you are not manufacturing spending doing some scheme. I pretty much spend all of my money on cards and take the 3-6% cash back and pay the bills in full. Its free money, a discount on whatever. If someone isn't giving me a substantial discount for paying cash, its going on a card for the warranty and protection benefits alone, rebates just sweeten it.

You buy something on a card and it gets stolen the card will replace it. They will cover you for a cancelled flight, unexpected hotel stay or car rental accident ( most cards are secondary to any other insurance, primary coverage is a rare thing these days ). Bust your cell phone, or it gets stolen, credit for a new phone if you pay your bill with card. You need to look at it like that, rather than just another bill.
This is pretty much how I use cards as well. Every single business expense goes on a card. The only difference is the only card I pay for is my Amex with a 95 annual fee but 6% back on groceries & 3% back on gas. I hit the figures every year so I'm ahead even paying the 95. No other card with a fee. I don't travel much these days so I don't do any reward cards - cold hard cash for me only.

Definitely spend some on each card at least once per year. I usually pull out the deck of cards at the beginning of the year and parcel out expenses to each of them, pay the balance in full the next month, and away go the cards until the following year. I have an embarrassing amount of available credit and (no lie) have in the past bought two investment houses with credit cards (using the "balance transfer" check). It's like you said - it's pretty easy to get crazy credit limits if you plunk down a couple of big balances and pay them off (for me, in full and without interest).
 

Users who are viewing this thread

Top