1. Forum
  2. FidoNet
  3. MEMORIES

  • Credit cards (was: Re: ER And Money)

    From JOE MACKEY@1:123/140 to DALE SHIPP on Wed Jan 9 06:45:58 2019
    Dale wrote --

    I don't know about Diner's but AE had no limit, and no interest,
    but it had to be paid in full each month. I don't recall how they
    made their money.

    AE made their money by charging the vendor a percentage of what was
    charged.

    Ah, figured it had to be something like that.

    Visa & Mastercard would love for people to pay the minimum each time so
    that they could rake in the interest fees.

    And their interest is high as well.
    So many people today look at credit cards as "free money" and spend,
    spend, spend, then make only the minimum or slightly higher payment and
    wonder why they are always in debt.

    They don't get any such fees from me.

    Same here.
    I have one card, and use it sparingly, only to keep it alive, and pay
    that off before the due date.
    I have never understood people who use their debit/credit card for
    minor purchases.
    Clerk: Here's your pack of gum
    Customer: Here's my card.
    I use cash for items under about $20, except in rare occasions.
    Sometimes it's just easier to use the card rather than cash such as the grocery, etc.
    Some places you can only use a card, such as online sales, UBER, etc.
    Old-timers here can ignore the following.
    There was period in my life in the late '90s I was between jobs and
    few prospects and had to depend on several credit cards (that I maxed
    out) for everyday life (rent, food, utilities, but nothing extra). Got
    in a deep hole that took a long time to get out of once things turned
    around. Never want to go through that again).
    Joe
    --- Platinum Xpress/Win/WINServer v3.0pr5
    * Origin: Fido Since 1991 | QWK by Web | BBS.FIDOSYSOP.ORG (1:123/140)
  • From Dale Shipp@1:261/1466 to Joe Mackey on Thu Jan 10 01:48:00 2019
    On 01-09-19 06:45, Joe Mackey <=-
    spoke to Dale Shipp about Credit cards (was: Re: ER <=-

    Visa & Mastercard would love for people to pay the minimum each time so
    that they could rake in the interest fees.

    And their interest is high as well.
    So many people today look at credit cards as "free money" and spend, spend, spend, then make only the minimum or slightly higher payment
    and wonder why they are always in debt.

    Too true.

    I have one card, and use it sparingly, only to keep it alive, and
    pay that off before the due date.
    I have never understood people who use their debit/credit card for
    minor purchases.

    I am just the opposite. I use plastic for just about everything where
    it is accepted. I have four major cards that I use and each has its
    purpose. They all give me rebates or airline miles on my purchases.
    One gives me a rebate on groceries. Another gives 4% rebate on gasoline purchases. Another gives 5% on Amazon purchases. I always pay all of
    the cards off in full each month. I rarely spend any cash money. $100
    cash might last me for six months.

    There was period in my life in the late '90s I was between jobs and
    few prospects and had to depend on several credit cards (that I maxed
    out) for everyday life (rent, food, utilities, but nothing extra).
    Got in a deep hole that took a long time to get out of once things
    turned around. Never want to go through that again).

    That makes it easy to understand your attitude on credit cards. Sort of
    the more recent parallel to those, such as my parents, who went through
    the depression years.

    Dale Shipp
    fido_261_1466 (at) verizon (dot) net
    (1:261/1466)



    ... Shipwrecked on Hesperus in Columbia, Maryland. 01:55:14, 10 Jan 2018
    ___ Blue Wave/DOS v2.30

    --- Maximus/NT 3.01
    * Origin: Owl's Anchor (1:261/1466)
  • From Daryl Stout@1:19/33 to DALE SHIPP on Thu Jan 10 06:36:00 2019
    Dale,

    That makes it easy to understand your attitude on credit cards. Sort of DS>the more recent parallel to those, such as my parents, who went through DS>the depression years.

    I'm like Joe Mackey in that regard. I had 2 cards, but with medical
    expenses, etc., I had to file Chapter 13 Bankruptcy ten years ago. I've
    long since been discharged from it, but I don't want to go down that
    road again. Besides, I get so little on disability, that I couldn't
    afford a credit card.

    My parents were born before the Depression, so they remembered how
    lean times were.

    Daryl

    ===
    � OLX 1.53 � A Sysop's phone and internet bills know no bounds...
    --- SBBSecho 3.06-Win32
    * Origin: FIDONet: The Thunderbolt BBS - tbolt.synchro.net (1:19/33)
  • From JOE MACKEY@1:123/140 to NANCY BACKUS on Fri Jan 11 06:20:18 2019
    Nancy wrote --

    Back then, it also came with a substantial annual fee.... that alone was enough to keep me from considering it, even if I had had the required
    income level, which I didn't...

    I'm sure you remember as well when having any sort of credit card was
    a status symbol. Not many had them.
    Even having a gas station card was something.
    Local/regional department store cards were valued.
    Now everyone has one.
    Take car phones.
    I knew a guy when in college 40+ years ago who had a car phone (forget
    why, something to do with business I think) and everyone thought that was something.
    And cell phones when they first came out, the huge ones. That was
    really something as well.
    Joe
    --- Platinum Xpress/Win/WINServer v3.0pr5
    * Origin: Fido Since 1991 | QWK by Web | BBS.FIDOSYSOP.ORG (1:123/140)