I get that back on my card, and it's safer and faster. I'd put my rent on my card if I could.That's what postal money orders are for. I love that 3% savings!
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I get that back on my card, and it's safer and faster. I'd put my rent on my card if I could.That's what postal money orders are for. I love that 3% savings!
Pervert….Cash is King View attachment 696436
Okay, you got me there. I hate most of the big banks, but if you are getting 3% back with no fees or strings attached, I can't argue with that.I get that back on my card, and it's safer and faster. I'd put my rent on my card if I could.
It's a game of chicken with the card company. The interest rate is huge. So they are betting I'll miss paying it off each month, I'm betting I won't. I miss one month and that changes the balance in their direction.Okay, you got me there. I hate most of the big banks, but if you are getting 3% back with no fees or strings attached, I can't argue with that.
If the APR is say, 23%, but you're getting 3% back on all purchases, you'd have to fail to pay the balance down to zero twice in a year before your return goes negative.It's a game of chicken with the card company. The interest rate is huge. So they are betting I'll miss paying it off each month, I'm betting I won't. I miss one month and that changes the balance in their direction.
Being old, retired and dirt poor, I probably wouldn't qualify for such a card anyway. I see that Chase offers a good sounding cashback card, but they are the same people that cut my available credit on my regular Chase credit card by 66% for no reason. Of course, that's still better than Citi-Bank which simply terminated my credit card with no notice.It's a game of chicken with the card company. The interest rate is huge. So they are betting I'll miss paying it off each month, I'm betting I won't. I miss one month and that changes the balance in their direction.
That sounds right. They want you to set up the autopay for the minimum, that way you will be paying interest forever. If I was to carry a balance and only pay the minimum, I'd be losing money after the 2 minimum payments and I'd still owe the original amount. The only way to win the game is to always pay in full. The card company still makes money off the purchase, but that's a lot less than what they'd get in interest. And I've started using virtual card numbers for auto payments and online purchases. This cost me nothing but gives me greater control and tracking. They also offer a plug-in for web purchases that searches for discount codes. and it actually works. They want me to use the card in the hope that I won't pay it off, too many fall into this trap, I don't.If the APR is say, 23%, but you're getting 3% back on all purchases, you'd have to fail to pay the balance down to zero twice in a year before your return goes negative.
If this really were the ploy the bank was making, it seems very strange for them to make it so easy to enable autopay? (You can set it to automatically send just the minimum amount due so you never again incur a late fee).
Your still paying interest on any balance you still have. Setting up auto pay is in their best interest. They're hoping you don't check.If the APR is say, 23%, but you're getting 3% back on all purchases, you'd have to fail to pay the balance down to zero twice in a year before your return goes negative.
If this really were the ploy the bank was making, it seems very strange for them to make it so easy to enable autopay? (You can set it to automatically send just the minimum amount due so you never again incur a late fee).
If you pay the balance down to zero during the grace period, you aren't paying interest.Your still paying interest on any balance you still have. Setting up auto pay is in their best interest. They're hoping you don't check.
You could set the autopay to always pay the full balance, but that comes with risks -- still have to stay on top of it, if only to double-check the statement for fraud or error -- if you find a bogus charge, they'll defer interest while the dispute is processed.That sounds right. They want you to set up the autopay for the minimum, that way you will be paying interest forever. If I was to carry a balance and only pay the minimum, I'd be losing money after the 2 minimum payments and I'd still owe the original amount. The only way to win the game is to always pay in full. The card company still makes money off the purchase, but that's a lot less than what they'd get in interest
Yeah, I've long been a proponent of virtual account numbers (including on NES, at least as far back as 2011).And I've started using virtual card numbers for auto payments and online purchases. This cost me nothing but gives me greater control and tracking.
Free state versionMaybe I can make this work to my advantage by curtailing my purchases of guns & ammo...???
Nah...
View attachment 696514
Free state version
Go buy a new gun to see for yourself?
ESG, Luckily some states are fighting it
Same with trying to put that special code for firearms.
Ups and Fedex shipping everything in separate packages and maybe losing some shit
The any transaction over $600 the bank has to report it to the feds rule
Now they are going for digital currency so everyone has a government bank account for the 87,000 irs agents to look at
The Marxist train keeps chugging along thanks with help from the republicrates
I bought a pistol yesterday on a Discover card.
I pretty much did this in January and February........nothing got blocked on any of the cards.I’ll buy a new gun with each of my credit cards and report back, for research of course
The only drama is if something comes in broken, wrong or damaged. This has never happened to me.I have never bought a gun on a card, but figured i would give it a shot to see if any drama would occur. Bought a Sig M18 off a dealer on GB, no CC fee so it was a free experiment. Nothing from the CC Co. (Capitalone) and its already at the FFL. Am waiting to see how it looks b4 paying off the card.
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Go buy a new gun to see for yourself?
Sometimes flying across the country to pay cash in person doesn't really make sense.
Sure, "Autopay the minimum" avoids a chance of late fee but assures that the balance, including new purchases, incurs interest.If the APR is say, 23%, but you're getting 3% back on all purchases, you'd have to fail to pay the balance down to zero twice in a year before your return goes negative.
If this really were the ploy the bank was making, it seems very strange for them to make it so easy to enable autopay? (You can set it to automatically send just the minimum amount due so you never again incur a late fee).