Discover Card - Bad

[clanhanson]

Only credit card we have is through the credit union I think its at 9.5% no cash back no miles (which we most likely wouldn't use anyway. We hardly ever use it and if we do the wife pays it back once a month from savings. Never bought a firearm on credit unless a couple weeks on layaway is something you would call credit (no interest). If I have money and see something I want I buy it if no money i control my wants.

If you have the money you could filter it through a cash rewards card and pay less for every gun and less for loans in the future... food for thought.

 

[3MTA3]

Any CC company will close a dormant account. 10% or so utilization is key to building credit.

I'm good with that, but I got a credit ding on zero balance that was no different than if I had stiffed them. I should not have been penalized.

 

[theduke]

If you have the money you could filter it through a cash rewards card and pay less for every gun and less for loans in the future... food for thought.

tell me more about this......like a pre paid card or someshyt..I have no clue.
I tend to run on greenbacks or trade stock.

 

[clanhanson]

tell me more about this......like a pre paid card or someshyt..I have no clue.
I tend to run on greenbacks or trade stock.

Well if you have the money to make a purchase, you might as well spend it using credit to get the 1-2% back then pay it off immediately. You then have buyer protection and extra cash. Also, ever tried getting money back from a debit card transaction? Much more difficult than a credit card.

 

[ma96782]

Assuming that the transaction involves a Form 4473.......

"What difference does it make?"



Fing Govt. Just trying to make their jobs easier (I suppose).

Aloha, Mark

 

[mhayd93]

Well if you have the money to make a purchase, you might as well spend it using credit to get the 1-2% back then pay it off immediately. You then have buyer protection and extra cash. Also, ever tried getting money back from a debit card transaction? Much more difficult than a credit card.

This is how I view credit cards, I have a few and use them only to buy things I would've purchased with cash anyway. No incentives to using my debit card, meanwhile I can order a firearm online using my credit card and get anywhere between 3-5% cashback; it makes for a nice discount!

 

[Mark W.]

If you have the money you could filter it through a cash rewards card and pay less for every gun and less for loans in the future... food for thought.

Not taking out any loans that I can foresee. And the cash back cards come with a much higher interest rate. If in some case we decide to use the thing.

 

[slimmer13]

I just got $1150 free money direct deposit using a rewards card.

 

[clanhanson]

Not taking out any loans that I can foresee. And the cash back cards come with a much higher interest rate. If in some case we decide to use the thing.

If you pay it off there's no interest, but it can be a slippery slope.

 

[ma96782]

I just signed up for a new card.

I'm supposed to get a $200 cash back reward......for spending (and paying off) $1000 worth of charges if done within the first 90 days.

Oh yeah......I'm up for that challenge.

Aloha, Mark

 

[Heyjoe]

Why do you want good credit? So I can go into debt.

Why do you want to go into debt? So I can have good credit.

No debt or rewards her and I'm happy.

 

[slimmer13]

Why do you want good credit? So I can go into debt.

Why do you want to go into debt? So I can have good credit.

No debt or rewards her and I'm happy.

I'll take my 862 credit score and my 2.75% mortgage. Most people can't pay cash for a house.

 

[clanhanson]

I just signed up for a new card.

I'm supposed to get a $200 cash back reward......for spending (and paying off) $1000 worth of charges if done within the first 90 days.

Oh yeah......I'm up for that challenge.

Aloha, Mark

Get a new PPK and several boxes of ammo. Done.

 

[FireArm]

I don't use credit cards period.

If you have to use money you don't have you should probably rethink the purchase.

Now if you buy with a credit card and immediately pay it off at the end of each month that's a different story.

Obviously certain situations can dictate differently.

all my monthly bills get paid automatically, and I only have to pay off the credit card payment.... thats a non-brainer for a single parent like myself.
my credit limit isnt anything I cant pay off with my next check, and it frees up cash for other spending.
It saves me time, money, builds credit and improves my credit score for when the economy crashes.

 

[Member 53328]

all my monthly bills get paid, and I only have to pay off the credit card payment.... thats a non-brainer for a single parent like myself.
my credit limit isnt anything I cant pay off with my next check, and it frees up cash for other spending.
Its the saves me time and money and builds credit and improves my credit score for when the economy crashes.

So exactly what I said. Just repeated differently…..

 

[FireArm]

So exactly what I said. Just repeated differently…..

exactly

 

[rhollister71]

If you have the money you could filter it through a cash rewards card and pay less for every gun and less for loans in the future... food for thought.

We use amex pay off monthly and I get 3 to 5% savings plus reward points so im making 5 to 7% on every dollar i spend.

 

[Flopsweat]

I have a couple of Visas and a few Mastercards. I put most of my purchases on them, but I like to pay cash for small purchases. I tend to use the ones with higher cash back. I'm thinking of dropping the Citi cards because of their recent foray into politics. It's not like I'd miss them. I actually have to rotate cards to be sure I have some kind of balance on each card each year. That seems to keep them happy.

 

[gmerkt]

Discover card? I didn't know they were still a "thing." They never were as widely accepted as MC and Visa. Nor is American Express. I think because Discover and AE both charged merchants a slightly higher processing fee. Kind of a vicious cycle. Reduced merchant acceptance results in fewer people wanting to use the card. AE isn't exactly a credit card as most people know it, because they require full payment at the end of the month. Surely that restricts its popularity.

Aren't cash back gimmicks pretty common with CC now? Meaning, don't most offer some kind of rebate even if only one percent? Five percent at Discover is pretty generous.

I haven't carried a balance on a CC for thirty years or more. I use them strictly for convenience. For a few years, I was a fairly regular customer at Cabelas and got one of their CC's. Then the fishing gear people took over and Cabelas kind of went down the tubes so I quit going. Last year, they sent me a letter telling me they were going to close my account for lack of use. Next time I was up there, I bought six dollar's worth of goods and kept the account alive. You never know, I might want to use it again.

I use cash for certain kinds of purchases. Mostly private purchases. When I sell personal property face to face, it's always cash. There are fewer greater joys in life for me in old age than to peel off a Benjamin and give it to one of my grandchildren as a spontaneous gift. Children, I find, love cash.

Digital currency - like Bitcoin. Where is the advantage for honest people? We already have credit cards, those are digital currency. And the block chain deal, why do we need to know the history of a financial instrument? Only something seriously subject to fraud or manipulation would need those credentials. And, Bitcoin et al have fees that are charged for each transaction, it doesn't trade for free. As a unit of "money" digital currencies are hugely volatile. I see them primarily as speculative in nature. Somebody tell me I'm wrong about this.

 

[gmerkt]

We use amex pay off monthly and I get 3 to 5% savings plus reward points so im making 5 to 7% on every dollar i spend.

Most Americans can't pay off their monthly balances these days. Plus most don't want to pay the annual membership fee.