Aparently, B of A is changing personality. Just got a
letter, that my promotional rate was going up as high
possibly as 27%. And that I needed to call the number, and
tell them to reject the rate increase.
I did so. But, since when is it my reponsibility to tell
them to keep their word?
Back in the 90s I watched a show on PBS like this one:
I cut up all my credit cards and haven't used one since. We only have our
mortage and a small car loan left.
No need to complain about interest rates. Just arrange for an automatic
deduction of the statement balance from your bank account every month. This
will give you the convenience of credit cards (no need to carry cash) plus
30 days grace in paying bills, plus getting a 1% to 3%rebate on all charges.
If you cannot pay your balance every month, you should not have a credit
Hand a credit card company, that acts on behalf of any scum with a
merchant account, a stack of presigned blank checks to have their way
with my money at their leisure? I think not. No payment until I see the
statement of account, and I don't care to screw with attempting to read
it online. What if I am out of town the week the statement gets posted?
Fixing errors is easier if they DON'T have the money yet. Once it is
paid, you are mostly screwed.
I mostly could not care less about the interest rate, since I pay it off
every month. But any card that tries to re-impose an annual fee will be
going bye-bye. I've been strong considering dumping my green Amex for
that very reason, since I seldom travel any more. But after almost 30
years, I'd feel sort of naked without it. And since I only have one
other non-store card (other than the one my employer issued me.) I do
need a backup.
I've heard the cash back argument but I do almost all my major shopping at
Costco where we already get 2% back and they don't take credit.
I always use my debit card and the bank offers some consumer protection with
I think credit cards can work well for those who use them wisely.
Unfortunately, the banks appear to be playing the odds.
We've been exec members for many years now. We've been members since 1994. I
do miss the old days when they sent the money back in a check.
I was reading some comments on Costco and people were saying "It's worth it
for the food court". We get ALL of our major purchases. I bought and sold
four houses through them. Now that's a deal! It WAS almost like stealing. (I
say "was" because the market isn't what it used to be.) I think we did 2 of
my wife's cars through Costco too.
Re: Credit Cards: I just don't like messing with the "no credit card "
philosophy in my family, but if it becomes a "Gotta do it Hi." thing, I'll
reconsider it then. Right now, I don't encourage any debits....if you know
what I mean. It's worked really well for us. I paid cash for 7 days in Rome
in November through Costco... You just have to love that place.
Only a small percentage of their workforce is and those are the former
price club employees. The main difference between them and sams
(walmart) is unlike sams (walmart) their pay actually raises them out of
official poverty status and they have real health insurance.
Thats quite a leap. They aren't greedy like walmart so they don't load
as much money into the truck to take back to headquarters and instead
pay their employees wages above poverty level. Not sure why you are so
overjoyed about the wages walmart pays its employees.
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