Cabels pissed me off
08-06-2009, 02:56 PM
#31
Giant Nontypical
Join Date: Sep 2005
Location: Mont County, Pa
Posts: 7,368
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08-06-2009, 05:29 PM
#32
Nontypical Buck
Join Date: Nov 2006
Location: Where the ducks don't come no more
Posts: 4,420
I see your point of view bro... but if you have $100K sitting around to buy a boat (and depending on what part of NC you are from, you may or may not know that a boat is life), then you are really pretty dang foolish. I'm not talking about financing a $7K john boat here. I work 50-60 hours a week, have a college degree and make less than $30K a year. When my Chevy Blazer with 263,000 miles finally dies (and I paid $7700 CASH for it when I was 17), what am I supposed to do? I kinda have to live paycheck to paycheck. I own my vehical, I own my boat, I have zero debt..... and I also have zero money. Its a crappy situation to be in. Any hot looking single white female doctors looking for a charming southern guy with a well mannered golden retreiver?
08-06-2009, 05:44 PM
#33
Boone & Crockett
Join Date: Feb 2006
Location: Maine
Posts: 12,563
My personal belief is if you cant afford to pay cash for the boat or atv or whatever you buy then maybe you shouldnt be buying it
08-06-2009, 08:19 PM
#35
Fork Horn
Join Date: Oct 2007
Location: Southeastern Michigan
Posts: 225
Many credit cards these days--including Cabela's--have incentive programs that allow you to earn points towards future purchases. And if I understood what was said, this gentlemen pays off his balances every month, so he is charged no interest; therefore, it's no different than using cash.
I do the same thing with my Cabela's card. Whatever I charge, I pay off that month, and I've earned nearly $300 towards FREE Cablela's merchandise, and I've never paid any interest, or any other fees, so not only is it convenient to use a credit card as opposed to cash, but I'm earning something in return for it as well..... you can't do that with cash and buying with cash doesn't build credit.
08-07-2009, 03:22 AM
#36
Typical Buck
Join Date: Dec 2005
Location: Southern Maryland (St. Mary\'s)
Posts: 884
Many credit cards these days--including Cabela's--have incentive programs that allow you to earn points towards future purchases. And if I understood what was said, this gentlemen pays off his balances every month, so he is charged no interest; therefore, it's no different than using cash.
I do the same thing with my Cabela's card. Whatever I charge, I pay off that month, and I've earned nearly $300 towards FREE Cablela's merchandise, and I've never paid any interest, or any other fees, so not only is it convenient to use a credit card as opposed to cash, but I'm earning something in return for it as well..... you can't do that with cash and buying with cash doesn't build credit.
I do the same thing with my Cabela's card. Whatever I charge, I pay off that month, and I've earned nearly $300 towards FREE Cablela's merchandise, and I've never paid any interest, or any other fees, so not only is it convenient to use a credit card as opposed to cash, but I'm earning something in return for it as well..... you can't do that with cash and buying with cash doesn't build credit.
I don't get free stuff, but do get "cash-back" on both my Visa and Discover. They are paid off every month so I pay no interest. Without going and looking at all of my statements to verify, I figure I get about $700.00 cash back a year. That is money I can invest for my future.
08-07-2009, 09:55 PM
#39
Fork Horn
Join Date: Oct 2007
Location: Southeastern Michigan
Posts: 225
Exactly. Free stuff = money you don't spend = you're actually AHEAD by using the card. Of course this only applies if your "free stuff" is stuff that you would have purchased anyway.
I don't get free stuff, but do get "cash-back" on both my Visa and Discover. They are paid off every month so I pay no interest. Without going and looking at all of my statements to verify, I figure I get about $700.00 cash back a year. That is money I can invest for my future.
I don't get free stuff, but do get "cash-back" on both my Visa and Discover. They are paid off every month so I pay no interest. Without going and looking at all of my statements to verify, I figure I get about $700.00 cash back a year. That is money I can invest for my future.
I have another credit card that allows me to build credits for cruises, and I have enough credits to take a 7 night Caribbean cruise for two people, and again, never paid any interest.
To be honest, I pay off my balances every month, so I never get interest charges; however, I do use the card a lot, so that I can get the points, so I can only assume they're making money off other merchants when I make charges.
08-08-2009, 10:02 AM
#40
Typical Buck
Join Date: Nov 2008
Posts: 564
Actually you do not need credit to make a purchase, I have not used credit in 5 years. If you want to make a big purchase like 350,000 for a house then they will do underwriting if you have not credit. they simply look at your debt to income ratio and your acct history with your bank. We have never had a prob. we just bought a 2009 Tahoe and when the lady ran my credit my score was low 500's because we dont use credit. Now, although we paid cash for it, they still offered to finance it because they saw that the reason for the low score was because of lack of use. I am not preaching on how to live your life but if you think about it, when you use credit, you are actually paying someone else to use money that you will have anyway.
98% of the population could never pay cash for a 2009 Tahoe (or Cobalt for that matter). If it were not for credit, GM, Ford, Dodge, Toyota, etc would have closed up shop 25 years ago.
As far as lowering limits go, I'd be pissed too. I tried refinancing our home a few months back with a score of 750. Was denied the teir 1 rate due to high CC balances compared to available credit. Woke me up and I started paying them off. 3 cards down 2 to go. My balance to available credit is growing by leaps and bounds each month. But all my prudent CC management to qualify for teir 1 refi status will be for nothing if the companies I paid off lower my available credit.