I for one use my GM credit card as much as possible. I have no charges
whatever as long as I pay it off every billing cycle. I have yet to
allow any portion of my charges float to the next month. The kicker is
the 5 to 10 percent of the charges that is put into a fund to use as
credit toward the purchase or lease of my next new GM car. (Limited to
500 bucks per year).
I just used almost 2000 toward the 99 S10 pickup I just obtained. It's
kinds like "Free Money"
Regards,
Joe
Bob Hill wrote:
>
> all of this is the exact reason I refuse to use a credit card unless it is
> a dire (read absolutely no other way to avoid it) emergency. I consider
> anyone who wishes to charge me 21% interest a loan shark and if I do ever
> have to use one of my cards, the balance is paid in full well before the
> due date. The best thing I ever did was get a check card (draws straight
> from checking account), this makes me double think every purchase as well
> as insures that I had better have the cash in hand if I buy the item. It
> is amazing the number of frivilous purchases I had avoided for that exact
> reason
>
> Bob
>
> 75 Triumph TR-6
> 74 MGB GT
> 77 MG Midget
> 79 MGB
> 71 Jaguar XKE
> 97 Jaguar XJ-R
> 00 Jaguar S-type actually the wife's but she let me ride it in once!!)
>
> On Tue, 21 Dec 1999, Michael D. Porter wrote:
>
> >
> >
> >
> > jniolon@uss.com wrote:
> >
> > > Richard,
> > >
> > > Here's one of my rants that I fired off to Sears after a late charge was
> > > tacked onto my 21% interest charge account.
> > > Made me so mad I paid them off and sent this letter. I enclosed my credit
> > > cards (in small pieces). It did get a response apologizing and a $25.00
> > > certificate to use at my local Sears store..
> >
> > It doesn't work nearly as well as that at Citibank.... I got a statement
> > with a $29 late charge on a $36 balance received only four days after
> > the due date, paid the bill and sent back the credit card with the bill.
> > I got a letter saying, "we don't understand why you returned your card.
> > Perhaps you misunderstood the reason for the late charge," and the
> > letter went on to explain. I wrote them back and said, I never argue
> > about a bank charging interest for the time I have their money. Late
> > charges should be applied for exceptional payment problems. It is not a
> > matter of misunderstanding, but rather, disagreement with the practice,
> > since it is effectively a rate of interest which is usury--80% interest
> > for four days. I can get better terms from the local loan shark.
> >
> > All I got from Citibank, in reply, was a letter notifying me that my
> > payment insurance was cancelled. I'd had their card for roughly thirteen
> > years.
> >
> > Sometimes complaining works, sometimes not.
> >
> > Cheers.
> >
--
"If you can't excel with talent, triumph with effort."
-- Dave Weinbaum in National Enquirer
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