Well if one always pays the balance when or befor edue, then I guess I see
no problem with credit cards - it is the running balance that eats folks
alive. And if anyone is just paying the minimum payment each month, they
willnever get the balance paid off.
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, Joe Curry wrote:
> 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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