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11-20-2015, 04:20 PM
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#21
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Moderator
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 25,340
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Quote:
Originally Posted by youbet
That's why they are not too concerned about losing your business. They make minimal money on folks like us who never pay interest on outstanding balances.
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I have heard that the industry's word for people who pay no cc interest charges is "Deadbeats". Kind of ironic isn't it.
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When I was a kid I wanted to be older. This is not what I expected.
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11-20-2015, 04:37 PM
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#22
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Recycles dryer sheets
Join Date: Apr 2008
Posts: 173
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Quote:
Originally Posted by Walt34
I have heard that the industry's word for people who pay no cc interest charges is "Deadbeats". Kind of ironic isn't it.
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I have a few words for the industry but if I said them here I'd be kicked off.
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11-20-2015, 05:04 PM
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#23
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Moderator
Join Date: Feb 2010
Location: Flyover country
Posts: 25,346
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11-20-2015, 05:18 PM
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#24
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Recycles dryer sheets
Join Date: Apr 2008
Posts: 173
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So I'm a Transactor AND a Deadbeat. (Sticks and stones. . .) I can add one more description to my now resume: A person who won't use your stinking card or your bank.
Oh, and there's one more: I'm not always a lady.
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11-21-2015, 10:46 AM
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#25
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2009
Posts: 6,695
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And what about the many of us who not only pay off our CC bills every month but also earn money from cashback benefits? THEY pay US to use THEIR cards LOL! What would they call us, Profiteers?
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Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.
"I want my money working for me instead of me working for my money!"
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11-21-2015, 11:11 AM
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#26
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Moderator Emeritus
Join Date: Sep 2007
Posts: 17,774
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I imagine the CC companies make most of their money from merchant fees. They would like us all to make minimum payments every month, but they really want us using the cards as mch as possible. The cash back rewards can't hurt them too much or they would stop the programs--the rewards get us to use their cards more often.
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“Would you like an adventure now, or would you like to have your tea first?” J.M. Barrie, Peter Pan
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11-21-2015, 01:55 PM
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#27
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 38,139
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Quote:
Originally Posted by Walt34
I have heard that the industry's word for people who pay no cc interest charges is "Deadbeats". Kind of ironic isn't it.
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But they do make money on us - the transaction fees. For people who run up large charges, they make good money off us even when we pay it off.
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Retired since summer 1999.
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11-21-2015, 02:06 PM
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#28
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Moderator
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 25,340
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Quote:
Originally Posted by audreyh1
But they do make money on us - the transaction fees. For people who run up large charges, they make good money off us even when we pay it off.
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Oh sure, I knew that. A few days ago I got an offer from Sears on their M/C card that I use - 20% back in a statement credit for using their card anywhere but Sears up to 12/31. A while back they sent me one for 10% back in statement credit and I signed up for that one too. This one overlaps the previous one.
I think what they're trying to do is change ingrained habits, get me to use their card more for a couple of months, and hope I keep doing it when the offer expires.
But I still pay it off every month.
__________________
When I was a kid I wanted to be older. This is not what I expected.
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11-21-2015, 02:17 PM
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#29
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2005
Location: Lawn chair in Texas
Posts: 14,183
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Quote:
Originally Posted by scrabbler1
And what about the many of us who not only pay off our CC bills every month but also earn money from cashback benefits? THEY pay US to use THEIR cards LOL! What would they call us, Profiteers?
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I don't care what they call me as long as the rebate check doesn't bounce.
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Have Funds, Will Retire
...not doing anything of true substance...
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11-30-2015, 03:48 PM
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#30
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 38,139
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New Krebs article on gas credit card skimmers and subsequent fuel theft rings. http://krebsonsecurity.com/2015/11/g...kimming-scams/
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Retired since summer 1999.
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