Credit Cards

[Leadeye]

When pushed, I bet most banks and CC Co's are anti-gun. Most don't advertise it so we give them our money for staying quiet.

My experience is that leadership in general is anti-gun. Elected leadership has to follow what people want if they want to stay in power so we have some say in that respect.

 

[JettaKnight]

I use my cash back credit card for anything I can and just pay the balance each month. It's free money. Why not?

Ignoring the Dave Ramsey type of arguments... Law of unintended consequences.

The micro-economic scale has you winning, due to a short term loan and cash kickbacks.

The macro-economic scale has you, and all consumers, losing because the sale price now has to be inflated 3% to compensate for the retailer's expense of processing that card.


Then there's the whole social impact of forcing our society into a dependence on electronic transactions (and everlasting records) with only a few massive banking institutions controlling commerce.

 

[WebSnyper]

Ignoring the Dave Ramsey type of arguments... Law of unintended consequences.

The micro-economic scale has you winning, due to a short term loan and cash kickbacks.

The macro-economic scale has you, and all consumers, losing because the sale price now has to be inflated 3% to compensate for the retailer's expense of processing that card.


Then there's the whole social impact of forcing our society into a dependence on electronic transactions (and everlasting records) with only a few massive banking institutions controlling commerce.

Yep, but really it's too late, the horse is out of the stable on this, and you are paying that markup anyway, now that it is the norm, unless there is a cash discount being provided.

And yes, I get the concern on the electronic transaction, but there are also some protections that go along with that (granted there are some risks obviously as well).

 

[boogieman]

For the last 10 years I have not had any credit cards. I too was in the mindset that if I don't have cash I don't need it right now. I don't have any other credit type accounts either, The house was bought by my wife before we were married so the credit goes to her. I recently went looking at trucks because mine is starting to nickel and dime me to death (210k on it). When the finance people came to talk to me they showed me my credit and I had a score of 000. I had to get a secured Credit card just to begin building credit again. I could have gotten the loan but my interest would have been 19.9%, not because of bad credit just lack of it.

 

[Hohn]

Yep. Transfered the balance to another card with 1.9 percent for two years. I will keep it open to use them for the credit score boost but will never use it again.

You actually think carrying more debt boosts your credit score? hahahahaha.

 

[Lilboog82]

I use my cc for everything and pay it off every month, the cash back rewards it’s like they are paying me to use their money! I also don’t understand why people use their debit card instead of their cc, much safer using cc than debit card.

 

[EricG]

If you're not enjoying free trips, hotel stays, dinner, rental cars, etc. by playing the card game, you're missing out.

Most people can't trust themselves with credit like most people can't trust themselves around guns. However, if your mindset is "free money", yes, stay away from CC's.
If you're into the rewards game, sign up and only spend what YOU ALREADY HAVE FUNDS TO PAY IT OFF WITH. < This is the

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[91FXRS]

You actually think carrying more debt boosts your credit score? hahahahaha.

I think he was referring to having revolving credit available that is not being used.

 

[crewchief888]

For the last 10 years I have not had any credit cards. I too was in the mindset that if I don't have cash I don't need it right now. I don't have any other credit type accounts either, The house was bought by my wife before we were married so the credit goes to her. I recently went looking at trucks because mine is starting to nickel and dime me to death (210k on it). When the finance people came to talk to me they showed me my credit and I had a score of 000. I had to get a secured Credit card just to begin building credit again. I could have gotten the loan but my interest would have been 19.9%, not because of bad credit just lack of it.

i dumped my credit cards 13 years ago, and basically dont have a credit score. only thing i had to make payments on was the mortgage. just bought a new car last month, got better a better interest rate using the wife as the primary, and she hasnt had any income for 10 years....

 

[cmann250]

If you're into the rewards game, sign up and only spend what YOU ALREADY HAVE FUNDS TO PAY IT OFF WITH. < This is the

I agree with this 100%. A credit card is just a convenience.

The hardcore Ramsey types are noble in cause but not practical. I’m not going to give up the convenience and the Cabela’s points. Who doesn’t like “free” guns?


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[dudley0]

But what cards are people using to get the best perks?

I don't travel so miles mean nothing to me. I want cash back of some kind.

We have one thru State Farm Bank and use the perks to pay off personal insurance premiums. Recently switched from a local credit union to an American Express Lowes card. The rate is higher, but I get 5% off at Lowes and more bonus elsewhere. Couple places do not accept American Express tho.

 

[JettaKnight]

But what cards are people using to get the best perks?

I don't travel so miles mean nothing to me. I want cash back of some kind.

We have one thru State Farm Bank and use the perks to pay off personal insurance premiums. Recently switched from a local credit union to an American Express Lowes card. The rate is higher, but I get 5% off at Lowes and more bonus elsewhere. Couple places do not accept American Express tho.

There's a few sites that will help you decided what's right for you.

Myself, I want strings-free money, so Discover Card has been good. Plus, they aren't *******s like many others (See Capital One gun debacle), and their commercials are overly annoying.

The downside is the limited acceptance, especially abroad.

 

[drawer86]

I'm surprised that credit card company's are even in business because ALL of their customers pay them off every month, never pay interest.

 

[JettaKnight]

I'm surprised that credit card company's are even in business because ALL of their customers pay them off every month, never pay interest.

Like I said, they charge the retailer a processing fee. ...which you pay for with higher prices.

Don't worry, the bank gets money from you no matter what.

 

[WebSnyper]

There's a few sites that will help you decided what's right for you.

Myself, I want strings-free money, so Discover Card has been good. Plus, they aren't *******s like many others (See Capital One gun debacle), and their commercials are overly annoying.

The downside is the limited acceptance, especially abroad.

And all of Discover's customer service is in the US as well... this is a bonus, when you need to speak/chat/email someone.

 

[dung]

I just found out my Discover dropped price protection in October so I need a new credit card as well. My Capital one card apparently doesn't even offer it. Has anyone got a company that still does? It is pretty handy to buy your guns and suppressors local, but get the price difference kicked back.

 

[2Lucky]

Local gun shop now adds 3% fee for in store purchases. I thought it was just on Gun Broker...........

 

[RobbyMaQ]

Well damn...

I had a BoA Bass Pro card, until they went all anti hard. They dropped the relationship with basspro, and transferred to capital one with the cabelas/bass pro rewards in early October.
We use the hell out of it each month and pay it off, basically for the rewards. About every 3 months we get about $100 to spend there. Handy for powder, bullets, etc...

What's this about capital one now being anti?

 

[croy]

Local gun shop now adds 3% fee for in store purchases. I thought it was just on Gun Broker...........

In my experience. It is 3% only on a credit card. If you pay cash no 3%. In a store I know in particular if its debit it's no fee. They do that because the they get charged a 3% fee running a credit card.

When you figure in mark up on new guns is only 10-15%. Then you swipe a credit card they just lost 20% of there profit on that purchase. It's why I normally always pay cash.

 

[Tanfodude]

Been using USbanks flexperks. We get to fly free with our points and rental car free once or twice a year, and that's almost 2k in perks.