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Old 06-23-2001, 05:20   #1 (permalink)
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Credit Cards - Ideas

I've had a Holden Card for many years now and the rebate comes in handy when buying a car (currently have $3300 rebate). Having said that I can't see myself buying a Holden in the near future.

I also had a Shell Mastercard, but it is a nightmare with GE Capital's service.

And given Ford don't have a credit card in Australia I was looking for the best deal for my needs (frequent flyer points are meaningless though!)

So, what credit cards do you guys have and what are the pros and cons of their reward schemes etc. I'm lost for ideas at the moment......
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Old 06-23-2001, 05:25   #2 (permalink)
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I got 2 amex cards and agc card (waste of time) 2 debit credit cards 1 linked to my cheque acc the other unlimited. all with no benefits. the only other is a westfield card, but it works on bonus points spend a million to get $10. other than that cant really help
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Old 06-23-2001, 05:29   #3 (permalink)
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I did write a letter to fordcredit asking if they were thinking about a credit card for buyers of ford cars. ie discount for fleet etc. got some reply back from them, if I can only remember where I put it. that may be helpfull to you.
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Old 06-23-2001, 08:09   #4 (permalink)
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Watch it, I worked for GE CAPITAL for 5 years
Well as for credit cards, WHAT A WASTE, A HORRIBLE FINANCIAL PRODUCT. Why in the world would anyone use a credit card?? Debit cards are fine, it comes out of your checking/Saving.
If you can't pay cash, don't get it. You spend more when you use a credit card, you WONT when you pay cash. Outside of a home I do NOTHING on credit. Not a car, nothing. What a waste to pay a bank to use money. Most of the credit card users do not pay off thier accnts on a monthly basis. How can most any normal person save money and retire with dignity if you charge crap all your life, buy new cars at 300+ bucks a month over 5-6 years, on an item that will be worth 20-30% percent less with in 2-3 years. Buy a used car!!!! Pay cash. Some say "Well I won't have to fix the new car" BS!!! True, but I can buy a nice used car for cash and will pay much less over 5 years in repairs that you will pay in 300 dollar payments in the same 5 years. I will be saving those monthly payments for a nicer car at the end of the 5 years. You will be just finishing up paying the payments and your car will be worthless and you wont have anything saved and will have to buy new again or worst yet LEASE! I used to do the credit crap, from age 18 to 30 years old, which jsut happened to be during the economic BOOM we had here in the states. So instead of investing my money for myself, I was investing it in credit cards and cars that were worthless.
Point in all this? You can't build wealth if your in DEBT!!! In the end most of us are here on this earth to live life well, have fun and be well off.
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Old 06-23-2001, 08:28   #5 (permalink)
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Credit Cards

I can sit here and tell you how I use credit cards but it would be pointless. So, I recommend you read up on ways to use your credit card to your advantage. Here's a good site to start with.

http://www.frequentflyer.com.au/tips1.htm

You will know if you are using your cards correctly because you will access all the benefits and never pay any interest. If you are the type of person that pays a monthly amount off your credit card but it is always in debit, then firstly I thank you, secondly, I suggest you cut it up FAST!
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Old 06-23-2001, 08:54   #6 (permalink)
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NOPE, your wrong, there are NO good reason to use a credit card. I went to the link you gave me, and sneaky like a credit card company it pops up a pop up window first thing when I get on the site.
See that is one of the many ways the credit card companies HOOK the users. Spend more on our card and we will PAY YOU BACK in some fashion. SOOOO, every time you go out and buy something you think "lets put it on the card" so I can get that vacation flight for free sometime down the road. You end up spending more in the end then if you just paid cash. Most users can not for what ever reason pay off the cards monthly. I worked in the busn for 5 years, trust me THEY DON"T! The monies you over spent using the credit card would have paid for a flight and vaca easly. Credit cards just enable our I WANT IT NOW cultures. Children want it now, Adults learn to delay pleasure!
Then there is the GM type of credit cars. Money back to buy a GM car. Not only to they get your interest payments, late fee's, and so forth. Then you turn right around and spend the money on thier cars and trucks. You never see the money, THEY DO!
Then there is Discover. They pay you back cash, whoopie, at what astonishing rate? 1 or 2%?? Once again, pay cash, and make a much greater return(invest) on the money you saved not over spending on a credit card.
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Old 06-23-2001, 18:18   #7 (permalink)
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I use my credit cards to pay bills over the phone or net. That way I can pay everything without sending cheques, going to their office etc. At the end of each month I simply pay one bill only. I can't think of anything more convenient and it costs me nothing (okay, the Holden GM Card charges $20 per year, but I get free entry to the Sydney Motor Show so it pays for itself again).

To pay all those bills using 'cash' would cost me more in time, postage, cheque fees (and their taxes). For negotiable items I usually pay cash - "How much for cash right here right now buddy?" For eg, saved $300 off a watch yesterday ($200 more than he was willing to do on credit card).

Bottom line, consumer systems are set up for credit cards (I won't get a discount on my electricity bill if I pay cash!)
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Old 06-23-2001, 18:19   #8 (permalink)
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Quote:
Originally posted by THE DOCTOR
I did write a letter to fordcredit asking if they were thinking about a credit card for buyers of ford cars. ie discount for fleet etc. got some reply back from them, if I can only remember where I put it. that may be helpfull to you.
DOC:
No need. Geoff P told me they have no immediate plans for that type of card.
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Old 06-23-2001, 18:30   #9 (permalink)
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sounds about right too. I found the letter and it say's no immediate plans.
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Old 06-23-2001, 22:37   #10 (permalink)
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If your using credit cards to pay bills, why not do it thru a debit card account. Right out of your checking!! One day you will be rolling along with the credit card accnt, thinking you have it licked, not paying any fee's and the such. Then one day you close the accnt, and months and months down the road you get a collection call. Seems they stuck one of the 45 buck protection plan thingies on your card after it was CLOSED!?!?!? So you got a collection iteam on your credit bur that takes months to take care of, hassles, fighting with company that you never wanted the service. When you play with snakes YOU WILL get bit eventually!
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