Credit Card Company Greed Again.....
- Thread starter ZZman
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They have to pay for their million dollar houses someway...lol I like how even if you do not carry a balance they may still charge you a yearly fee.
Kestas
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I guess their cut from the merchants isn't enough. Greedy jerks!
Originally Posted By: FowVay
This is insane. I could care less if they charge 3000% because I don't put myself in the position to pay it.
Agreed.
This is insane. I could care less if they charge 3000% because I don't put myself in the position to pay it.
Agreed.
I just refuse to play the game. With the advent of debit cards there's absolutely no need to keep a credit card if you don't want one.
After being suckered into running up Discover/Visa/Amex in college and taking nearly 5 years to pay it all off, I have simply gotten off the ride. I cut all the cards and don't have a "credit" card to this day...almost 15 years later. I put a note on all my credit reports that I am not interested in being offered any revolving credit. That has stopped all but the most aggressive CC companies from flooding my mailbox with junkmail (I'm talking to you, CapitalOne).
Don't spend what you don't have and you can chuckle at the whole mess.
After being suckered into running up Discover/Visa/Amex in college and taking nearly 5 years to pay it all off, I have simply gotten off the ride. I cut all the cards and don't have a "credit" card to this day...almost 15 years later. I put a note on all my credit reports that I am not interested in being offered any revolving credit. That has stopped all but the most aggressive CC companies from flooding my mailbox with junkmail (I'm talking to you, CapitalOne).
Don't spend what you don't have and you can chuckle at the whole mess.
I can't rent a hotel room at some places with a debit card.
Another way to not play the game is simply pay the balance off every month. I use the credit card's money for 25 days free of interest every month. Online bill pay helps with that tremendously.
Another way to not play the game is simply pay the balance off every month. I use the credit card's money for 25 days free of interest every month. Online bill pay helps with that tremendously.
When I had occasion to call the customer service line for my card, the CS guy professed himself amazed that I had never been late with a payment since this card was opened in 1996, even during the Katrina period. I told him, "Of course. I have a debt, I pay it. And I don't get myself into more debt than I can handle."
Naturally he was mentioning this to butter me up into buying identity theft protection; but I'm still proud of it.
Naturally he was mentioning this to butter me up into buying identity theft protection; but I'm still proud of it.
Originally Posted By: benjamming
I can't rent a hotel room at some places with a debit card.
Another way to not play the game is simply pay the balance off every month. I use the credit card's money for 25 days free of interest every month. Online bill pay helps with that tremendously.
I used to do a lot of international travel and I do remember some car rental companies that refused to accept a Visa debit card. That's actually against the agreement they sign with Visa, but no matter. I simply walked to the next counter and used another company. I've never had a problem at a hotel and that's throughout most of Asia, Australia and occasionally in the Middle East.
The CC companies only have power because people *think* they need one. You don't.
I can't rent a hotel room at some places with a debit card.
Another way to not play the game is simply pay the balance off every month. I use the credit card's money for 25 days free of interest every month. Online bill pay helps with that tremendously.
I used to do a lot of international travel and I do remember some car rental companies that refused to accept a Visa debit card. That's actually against the agreement they sign with Visa, but no matter. I simply walked to the next counter and used another company. I've never had a problem at a hotel and that's throughout most of Asia, Australia and occasionally in the Middle East.
The CC companies only have power because people *think* they need one. You don't.
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They should be able to put a hold on funds for hotel fees through your debit card. Assuming you have a reservation, they should be able to assess the amount right there on the spot. You may get a phone call if you're charging up tons of room service or whatnot.
Don't most debt cards also function as CCs? Mine does. I can use it a Visa Debt or Credit.
If lost or stolen, a Credit Card will limit your liability to $50.
Lose a Debit Card, and your bank account can go by-by in minutes and usually there's nothing you can do about it.
Some 'financial institutions' have recently made it possible to get some of the lost money back. It's like pulling teeth though.
Lose a Debit Card, and your bank account can go by-by in minutes and usually there's nothing you can do about it.
Some 'financial institutions' have recently made it possible to get some of the lost money back. It's like pulling teeth though.
Originally Posted By: dwendt44
If lost or stolen, a Credit Card will limit your liability to $50.
Lose a Debit Card, and your bank account can go by-by in minutes and usually there's nothing you can do about it.
Some 'financial institutions' have recently made it possible to get some of the lost money back. It's like pulling teeth though.
Depends on your bank. I lost my debit card in Kuala Lumpur last year and some enterprising urchin tried using it a bunch of times. I reported it missing within a day or so and my bank (HSBC) told me that I was off the hook for any fraudulent charges.
If you have a bank that doesn't protect your debit card from fraud, I'd check into that and change banks. Vote with your wallet.
If lost or stolen, a Credit Card will limit your liability to $50.
Lose a Debit Card, and your bank account can go by-by in minutes and usually there's nothing you can do about it.
Some 'financial institutions' have recently made it possible to get some of the lost money back. It's like pulling teeth though.
Depends on your bank. I lost my debit card in Kuala Lumpur last year and some enterprising urchin tried using it a bunch of times. I reported it missing within a day or so and my bank (HSBC) told me that I was off the hook for any fraudulent charges.
If you have a bank that doesn't protect your debit card from fraud, I'd check into that and change banks. Vote with your wallet.
It's not greed necessarily, it's a reaction to the new laws.
Remember earlier this year when the credit card reformation act was signed into law this year? That is the driver behind many recent changes. We'll see more changes.
One change that might be occurring shortly due to that law being put in plac: no grace period, you pay interest the moment you make the purchase.
I agree with the above poster: get off the credit card tread mill.
Remember earlier this year when the credit card reformation act was signed into law this year? That is the driver behind many recent changes. We'll see more changes.
One change that might be occurring shortly due to that law being put in plac: no grace period, you pay interest the moment you make the purchase.
I agree with the above poster: get off the credit card tread mill.
Citibank just jacked the rate on most cards to 29.99%. Yep, that's not a typo. Desperation is a stinky cologne, and that is nothing but an "all chips in" move by Citibank, who is otherwise facing MASSIVE losses.
Originally Posted By: crinkles
Originally Posted By: Shannow
Mine just sent me $150 in gift cards for the last 3 months. $140 for the quarter before that.
which card?which fine financial institution?
crinkles, it's a Woolworths Everyday Money card.
Ever $ earns a point. Every $ at WW, WW/Caltex/**** Smith etc. 2 points. Every $ on a WW "Select" branded product 3 points.
Got 2 linked cards (one for me, one for the boss).
"e-pump" at the servo, I just scan the card, type a pin, fill up and drive off. Receipt is in my email when I get home.
I think they've got a 5% rebate on grocery bills for new customers up till end of year.
Originally Posted By: Shannow
Mine just sent me $150 in gift cards for the last 3 months. $140 for the quarter before that.
which card?which fine financial institution?
crinkles, it's a Woolworths Everyday Money card.
Ever $ earns a point. Every $ at WW, WW/Caltex/**** Smith etc. 2 points. Every $ on a WW "Select" branded product 3 points.
Got 2 linked cards (one for me, one for the boss).
"e-pump" at the servo, I just scan the card, type a pin, fill up and drive off. Receipt is in my email when I get home.
I think they've got a 5% rebate on grocery bills for new customers up till end of year.
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