|
|
04-08-2013, 08:34 PM
|
#1
|
Senior Member
Join Date: Jul 2011
Location: Indiana
Posts: 1,695
|
Credit card offers
OMG - - - Have you read any of your junk mail lately? The terms for credit cards offers in the mail are insane (also the card from the Good friend of all RVers). Interest rate of 12.99 is bragged about in the literature. Cards at 13.99 and higher seem to be common. Cash advances at 25.99%.
My Visa card is 6.99% and my credit limit is $25,000.
I no longer use my MasterCard because that went up to 12.99% from 7.99%. I called MasterCard and they were not fazed when I told them that I was cutting up their card. I don't know what I will do when my Visa card goes up from 6.99%. I guess my debit card will be the only card that I ever really use. It's close to that now.
Do people understand the cost of 12.99 or 16.99 interest?
BTW, a bank credit card is up to 12,13, 14 percent and the interest they pay on your savings account is 1.2%.
These situations will change just as soon as gas prices are monitored. LOL
__________________
Living Our Dream One Mile at a Time [SIGPIC][/SIGPIC] Steve & Mary Ann (RVM5 & 5A)
|
|
|
|
Join the #1 RV Forum Today - It's Totally Free!
iRV2.com RV Community - Are you about to start a new improvement on your RV or need some help with some maintenance? Do you need advice on what products to buy? Or maybe you can give others some advice? No matter where you fit in you'll find that iRV2 is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with other RV owners, see fewer ads, upload photographs, create an RV blog, send private messages and so much, much more!
|
04-08-2013, 08:43 PM
|
#2
|
Senior Member
Join Date: Jun 2010
Posts: 100
|
The interest rate is zero if you pay up every month.
|
|
|
04-08-2013, 08:54 PM
|
#3
|
Senior Member
Join Date: Jul 2012
Location: Fulltime, USA
Posts: 16,706
|
Quote:
Originally Posted by jetfromtn
The interest rate is zero if you pay up every month.
|
Bingo!
Cash flow RULES!
|
|
|
04-08-2013, 10:00 PM
|
#4
|
Senior Member
Join Date: Jun 2011
Location: Phx, Arid~zona
Posts: 11,106
|
I always pay my CCs before they're due, but every 1-2 years, a bill gets "lost in the mail". They always waive the late charge when I call, but it still makes me wonder if they do it on purpose to try to get people to pay without questioning it. BTW, it is always MC.
|
|
|
04-08-2013, 11:04 PM
|
#5
|
Senior Member
Monaco Owners Club
Join Date: Jul 2011
Posts: 2,200
|
Thom has one bank and one credit union account. Both have bank cards with them, one is MC and one is Visa. I have one credit union with a Visa bank card. No credit cards here. Yes we have gotten $400 worth of diesel on the bank cards with no problems from the bank or credit unions. We don't worry about credit cards and the bills and maybe missing the date to pay. We can move money between all accounts if needed with no problems.
Note about credit unions - My cu is in MI but I can go to almost any cu ATM and get money if needed. I can use most cu's and deposit or get money from a teller if needed anywhere in the country. Thom's cu on the other hand is not part of the network of most cu's so he cannot deposit money a lot of places and has a hard time taking care of things not in MI. He also cannot close it until we get back to MI. If you do go with a cu just make sure that it is part of the co-op and/or star network or a cu network that allows you to do lots of things not at your home cu.
__________________
Thom and Christine having fun in a 1993 Monaco Crown Royale Signature Series 40ft 300hp RV. Towing a Fiat 500 Abarth and a Harley.
Our blogged repairs and travels
|
|
|
04-09-2013, 04:07 AM
|
#6
|
Senior Member
Fleetwood Owners Club Ford Super Duty Owner
Join Date: Jun 2012
Location: SoCal
Posts: 15,749
|
Quote:
Originally Posted by jetfromtn
The interest rate is zero if you pay up every month.
|
__________________
Vince and Susan
2011 Tiffin Phaeton 40QTH (Cummins ISC/Freightliner)
Flat towing a modified 2005 Jeep (Rubicon Wrangler)
Previously a 2002 Fleetwood Pace Arrow 37A and a 1995 Safari Trek 2830.
|
|
|
04-09-2013, 04:09 AM
|
#7
|
Senior Member
Fleetwood Owners Club Ford Super Duty Owner
Join Date: Jun 2012
Location: SoCal
Posts: 15,749
|
Quote:
Originally Posted by Dunner
I always pay my CCs before they're due, but every 1-2 years, a bill gets "lost in the mail". They always waive the late charge when I call, but it still makes me wonder if they do it on purpose to try to get people to pay without questioning it. BTW, it is always MC.
|
Automatic Bill Pay keeps this away.
__________________
Vince and Susan
2011 Tiffin Phaeton 40QTH (Cummins ISC/Freightliner)
Flat towing a modified 2005 Jeep (Rubicon Wrangler)
Previously a 2002 Fleetwood Pace Arrow 37A and a 1995 Safari Trek 2830.
|
|
|
04-09-2013, 09:21 PM
|
#8
|
Senior Member
Join Date: Nov 2012
Location: Grants Pass,Or
Posts: 325
|
Automatic bill pay is #1 in my book and a credit union is great for service and rates on CCs
__________________
1977 class B Dodge MH, 2002 honda valkyrie motorcycle,Grants Pass,Or
|
|
|
04-09-2013, 09:46 PM
|
#9
|
Senior Member
Fleetwood Owners Club
Join Date: Dec 2004
Posts: 527
|
And you get rewards from the credit cards even after you pay them every month. That is negative interest.
|
|
|
04-09-2013, 09:54 PM
|
#10
|
Senior Member
Join Date: Jun 2011
Location: Phx, Arid~zona
Posts: 11,106
|
I use PenFed for gas. I think it is 5%.
|
|
|
04-09-2013, 10:12 PM
|
#11
|
Senior Member
National RV Owners Club
Join Date: Jun 2010
Posts: 4,581
|
Quote:
Originally Posted by Dunner
I always pay my CCs before they're due, but every 1-2 years, a bill gets "lost in the mail". They always waive the late charge when I call, but it still makes me wonder if they do it on purpose to try to get people to pay without questioning it. BTW, it is always MC.
|
About the first of every month I go online to each of the three credit cards I have and look at the charges then if no questionable charges I pay the full amount (not the statement amount). This works for me but may not for you.
__________________
Bob & Sandi, dogs Tasha a Frenchie and Tiki a Skipperkey
SW OREGON 2005 34 foot DolphinLX
If towing: a bright red 2016 Mini Cooper on a tow dolly.
|
|
|
04-09-2013, 10:20 PM
|
#12
|
Senior Member
Join Date: Jun 2011
Location: Phx, Arid~zona
Posts: 11,106
|
I still like to get the paper so I can look back and see when I bought something and for warranty purposes. Yeah, I know, I can do it online, but I'd rather be here.
|
|
|
04-09-2013, 10:59 PM
|
#13
|
Senior Member
Entegra Owners Club
Join Date: Sep 2012
Posts: 6,695
|
Citibank is either buying company's credit management or overall credit accounts. When they go hammered by the fed and paid their fines, they then upped their interest rates to 21.99 with 25.99 on cash advances (with a clean history and credit report well into the 700s). The ones I know about are Shell, Sears, Hilton Honors, and a couple of other banks.
Then, they give you a couple of months notice that it is going up.
Agree, use these predators only for pay as you go and to maintain your credit rating (you get docked points if you close accounts).
This has to go down as the biggest rip off out of the whole bank failure rip off of 2008. It preys on all ages. JMHO
__________________
Dave and Beth
2015 Cornerstone 45J
2020 Ford F-150 Lariat
|
|
|
04-09-2013, 11:41 PM
|
#14
|
Senior Member
Join Date: Jun 2011
Location: Phx, Arid~zona
Posts: 11,106
|
I think BOA is the worst. Very predatory and usually the first to start new charges. I have some investments, savings and checking in Chase and schedule the pay date as long out as I can. Not sure which is worse. Letting the bank keep my money the longest of letting the CC company get it sooner. Interest rates on savings is pathetic. I guess I could get my rewards sooner by paying off the CC sooner
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Discussions |
|
|
|
|
|
|
|
|
|
|
|
|
|