Is there anyone in here that has one or more credit cards. Pays them on time so they have no debt, and uses the benifits. I had a credit card but once i payed it off i canceled. It has now been 3 years and i feel im ready to establish credit again. I know a few people who are in the 2% of our population and are good with there money. Most of them don't have a lot at any givin time though. Although they fly for free through alaska airlines because they get 1 mile for every dollar they spend. Its easy to get several hundred miles in a month from gas and groceries alone. Now since they live on the west side they can go pretty much anywhere. Im wondering if anyone has a credit card of some kind and uses the benifits. Since the general population is loaded in debt for the few of that are NOT i would think we get the benifit of the doubt.
unauthorized loans... Do it all the time, dont know about all the other perks.. thats the only one i use..
I never carry a balance on my cards, but my benefits also kind of suck. I don't really think they are worth the yearly fees. A friend of mine had a treeplanting company, and used an airmiles credit card for all his business purchases (several hundred thousand a year) and just raked in the free trips though.
Someone fraudulently ran up $1500 on my credit card in the past couple weeks. The bank will pay for it. Not sure how this one happened. People wonder why I am security conscious about giving a worker at a retail outlet or anyone else a credit card or drivers license, especially for what appears to be a frivolous reason. Be careful what you do with these things. .
not sure what you mean by benefits but my mastercard gives me something like 2% back in canadian tire store credit so i use it for everything and usually end up with at least a few hundred dollars worth of free tools every year it gives me cheaper fuel too but like you said its not any benefit at all for people who dont pay off the balance every month
Credit is good if there is a great sale where something is like half off and something you can afford but you won't have the cash until after the sale is over. .
I never have a balance outstanding on any card. I have one Mastercard, like BBAD's, from CT. I have a Visa that is from the bank I use the most and I have no service charges on any of my accounts by having it and maintaining a certain balance in my account. It also gives me air miles. My debit card is also from this bank and it is linked so it is surcharge free. I have an American Express that I use mainly for business. The advantage with this card is that the limit is very high so that if I am away I do not need to worry about it. This card though has to be paid in full monthly. The advantage with this one is that I get advance tickets for events. They are sold to holders before the public. Comes in handy. I do not carry any cards for individual retailers. Credit cards are a great thing if you can control spending and budget, otherwise they are a debt trap. Happens a lot.
What im saying is if you pay for dues on time and use the companies for your good. If i payed $75 a year for one card in fees. And my gas and food literally payed for my plane fair. Id say its worth it. Gotta read between the lines.
My friend was just telling me the other day that his boss made every payment on time, and they canceled him.
You mean I should or should not? Nope, I am selfish and use the tickets for me or for who I bought them for.
That happens. People do not sometimes realize that if you have too many credit cards with even no balance owing or you always make your payments it can put you into a risk category. If that happens they usually cancel the card rather than take the chance you will default. They also track spending history and if you are spending on risk items then you are more likely to have your credit cut off.
I use to have a Alaska airline card but Bank of America raised my interest rate cuz I didn't keep a balance of any kind so I cancelled it and got a MasterCard through my Credit Union.
I think inactivity fees have been outlawed in the U.S., so raising interest rates is a way for them to make up for it or simply canceling the card. Late fees are now capped at $25 unless someone is habitually late. Those were as high as $75. Credit unions are probably going to be used more by people over the next ten years. .
We have a PC Mastercard, that gets paid off each month and we use the benefits. It's something like 2% of purchases at certain stores and 1% at all other stores...it amounts to free groceries for us. I save the points all year and it pays for all of our Christmas dinner and treats.
