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View Poll Results: Do you typically pay off credit card debt at the end of the month?
Yes - I typically pay off credit card(s) balances at the end of the month. 214 91.06%
No - I often have a balance on my credit card(s) balances and pay interest. 13 5.53%
N/A - I do not use credit cards for transactions or credit. 8 3.40%
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Old 12-28-2008, 06:43 PM   #41
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Debit Mastercards like mine look just like a Mastercard. If a customer answers that question as "debit", then the fee is assessed to the customer instead of to the store. That is why they ask - - they probably make a few bucks for the store this way during the day.

My bank sent debit Mastercard owners a letter several years ago, telling us to insist on having it processed as "credit", since that is perfectly legal and I guess is the intent in creating these cards. In fact, at one point several years ago they sued Wal-Mart about their refusal to process debit Mastercard purchases as "credit", and we no longer have trouble doing that with a debit Mastercard.
Thought I knew all about these cards but tell me about the debit fee being assessed to the "customer". I don't get it. Tell me more about this fee to the customer. I thought the merchant paid the fees which are different for a debit card than a credit card. I use both. I gave up on airline miles. Too much of a hassle. I have an Amex card that gives me 5% cash back on gasoline and cellphone and a couple other things and 1% on everything else. It's a business card but anyone can get it. No annual fee. The 5% gasoline rebate was nice when gas was $4/gal (my cost $3.80). Only problem--lots of places won't take Amex. My debit card is processed the same to me, whether it goes in as credit or debit.
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Old 12-28-2008, 06:45 PM   #42
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I like whipping out my credit cards for those expected/unexpected expenses instead of having to make transfers, but hey, that's just me.

Me too, I always love those commercials when they decide to fly away at the spur of the moment and whip out their visa . I want to do that just once before I die .
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Old 12-28-2008, 06:55 PM   #43
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At 35-0-1, I'd say your conclusion is correct! I am the "1" who doesn't use a CC.

Back when I needed one, right after my divorce and penniless but with a decent job, I couldn't get a CC. (Well, at least I couldn't get an unsecured CC without paying huge fees, amounting to over half of the ridiculously low CC limit)

Now, eleven years later and with credit scores in the 800's I could probably get one. I don't feel a need or desire for one at this point, though. So, I haven't got around to applying once again for my first credit card in my name only. The idea is such a huge turn-off to me.

Like Dex, all my regular bills are on automatic bill pay directly from my bank and I seldom write checks. My debit Mastercard is convenient for gas and online purchases. My bank refunds 100% of debit card purchases not authorized by me (and did so the one time that happened, back in 2001 - - that policy is written into the debit card contract small print).
Lots of advantages to major purchases on a credit card. Lot of cards will extend warranties at least one year. They can cover goods damaged in
transit. Also, someone mentioned insurance. A good credit rating can get you a lower rate on home and auto. Ever hear of your FICO score?
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Old 12-28-2008, 07:14 PM   #44
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Or, you can ask the merchant - "What can you do for cash?" - often the answer is a few % off.
So... you pull in to the gas station and jump out, run inside and say: "Quick! Let me speak with the merchant."

Have you actually tried that?
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Old 12-28-2008, 07:25 PM   #45
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Me too, I always love those commercials when they decide to fly away at the spur of the moment and whip out their visa . I want to do that just once before I die .
I had to do just that a few years ago. Dec 26th at 8:30am I got a call from my sister in England to say my mother had died. I called around the airlines and got a flight that day - overnight to London and I was at my Dad's house the next afternoon.
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Old 12-28-2008, 07:28 PM   #46
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I had to do just that a few years ago. Dec 26th at 8:30am I got a call from my sister in England to say my mother had died. I called around the airlines and got a flight that day - overnight to London and I was at my Dad's house the next afternoon.
Alan, I had to do that for my brother when our father died 28 years ago--pre-ATM-card-days, only a credit card could buy his overseas ticket.
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Old 12-28-2008, 07:30 PM   #47
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So... you pull in to the gas station and jump out, run inside and say: "Quick! Let me speak with the merchant."

Have you actually tried that?
It has worked for me when buying a car, though not in recent years.
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Old 12-28-2008, 07:33 PM   #48
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It has worked for me when buying a car, though not in recent years.
Purchasing a vehicle with a Credit Card. Hmmmm.
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Old 12-28-2008, 07:35 PM   #49
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Purchasing a vehicle with a Credit Card. Hmmmm.
Yep, my dealer let's me put $5k on my cc. I pay the rest in check, then pay my cc off when I get the bill.

Unfortunately, I've never been able to get a discount by paying cash instead of using my cc. But, I keep tryin'.
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Old 12-28-2008, 07:36 PM   #50
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Purchasing a vehicle with a Credit Card. Hmmmm.
Bought a used vehicle in March for 8300 and put it on my True Earnings card. Some dealers will do that.
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Old 12-28-2008, 07:38 PM   #51
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Alan, I had to do that for my brother when our father died 28 years ago--pre-ATM-card-days, only a credit card could buy his overseas ticket.
Now that you mention it, that was 1995 for my emergency trip so you're right, it was pre-Debit card Visa/Mastercard so I don't know that I would many other options than a credit card.
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Old 12-28-2008, 07:38 PM   #52
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Or, you can ask the merchant - "What can you do for cash?" - often the answer is a few % off.

ta,
mews
Tried that several times - usually the answer is no, so they get the card instead of cash and i get a point back and they pay more and get less profit. Doesn't make sense, but there you go.
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Old 12-28-2008, 07:42 PM   #53
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Ron, here in NYC, I don't have a car - but I've done it with other stuff, and sometimes I get a smart merchant ... and the smart merchant gets a happy customer.

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Old 12-28-2008, 07:44 PM   #54
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Purchasing a vehicle with a Credit Card. Hmmmm.
Still pay it off end of month and get 1% cash back.
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Old 12-28-2008, 07:59 PM   #55
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I had to do just that a few years ago. Dec 26th at 8:30am I got a call from my sister in England to say my mother had died. I called around the airlines and got a flight that day - overnight to London and I was at my Dad's house the next afternoon.

I had to do that when my Son was critically ill and even if I had the time to transfer money to my checking acoount I did not have the sanity to do it . Next time I'd like to whip that card out for something fun not painful.
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Old 12-28-2008, 08:01 PM   #56
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I use a 4-3-2-1 cashback card for everything I buy.
4% gas and auto related up to $250/mo
3% entertainment up to $150/mo
2% groceries, restaurants up to $750/mo
0.25% everything else up to $10K annually, then 1%
We have a joint credit card, and I hold a single credit card of the same type as backup. When gas prices were over $4 per gallon, we used both credit cards to get the 4% on all gas purchases.
I always pay it off in synch with our biweekly paydays.
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Old 12-28-2008, 08:11 PM   #57
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If you go to a car dealer that allows you to put the whole purchase price of the car on a credit card I suggest you take another look at the price of the car. The dealer pays the credit card company a vig for the purchase. If it's 3% of the total you paid too much for the car.
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Old 12-28-2008, 08:37 PM   #58
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I did not know that you could rent a car or a hotel room with a debit card either. We put everything that we can on our Discover card for the cash back. A car dealer let us put $12000.00 of the purchase price of our new vehicle, but not the full amount. We live close to the PA border and bought the vehicle in PA. My DH went to the dealer in our state, WV, and he could not sell us the vehicle at the same price in PA. Of course, we paid the CC off as soon as the bill came. I have read that people spend less when they have to actually part with the cash at the time of purchase. I am usually pretty frugal, but I wonder if it would work with DH who seems to like spending it more. I keep thinking that we should try an experiment of using cash for a few months, but it seems so much harder dealing with cash and I also hate to give up the rewards.
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Old 12-28-2008, 08:44 PM   #59
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If you go to a car dealer that allows you to put the whole purchase price of the car on a credit card I suggest you take another look at the price of the car. The dealer pays the credit card company a vig for the purchase. If it's 3% of the total you paid too much for the car.
Actually, it was a friend and I think that I paid too little. It was Blue Book wholesale. Then he charged me $300 to drive it from Seattle to Phoenix which included the cost of a ticket up there, gas down and a hotel room somewhere in between.
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Old 12-28-2008, 09:10 PM   #60
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I run as much as possible through my credit card and pay it off every month. I also wait until around the 24th of the month to make any major purchases because the break in the billing cycle essentially gives me 2 months use if the CC company's money. Also use it for the airline miles.
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