Thanks Credit Card Companies

[Diver Kat]

Originally Posted by IndyDiver

That may end soon. Bank of America and Chase are both testing consumer response to adding annual fees to accounts that do not carry a balance. Bank of America is also testing the idea of an inactivity fee for accounts that have no charges within a 12 month period.

We're the same ....never carry a balance, and never pay interest. We use the cards to earn cash back and travel benefits, but pay in full as soon as the statement cuts.

As for annual fees, we decided to cancel one of our cards since the benefits had changed and they charged an annual fee. When I called to cancel, they offered - actually they practically begged - to waive the annual fee going forward if we would keep the card.

[moosicman]

Originally Posted by Diver Kat

We're the same ....never carry a balance, and never pay interest. We use the cards to earn cash back and travel benefits, but pay in full as soon as the statement cuts.

As for annual fees, we decided to cancel one of our cards since the benefits had changed and they charged an annual fee. When I called to cancel, they offered - actually they practically begged - to waive the annual fee going forward if we would keep the card.

Please tell me you told them to kiss your butt.....

[PACKRMAN]

Originally Posted by moosicman

Please tell me you told them to kiss your butt.....

Don't do that.

Tell them that now they have to earn your buisness and you want more rewards

[rsmith5894]

Snakes bite, I don't play with them. After years of playing their games we are CC free and love it! Thanks Dave Ramsey!

[Zeagle Eagle]

I have one only because I use it to rent cars ( since it's platinum I get the insurance free). I use it sometimes on purchases to get the buyer protection that comes with it. Then I immediately get on my iPhone and pay it off.

Every year they try to charge me an annual fee and every year I call and have it taken off (Threaten to cancel card). They keep raising my credit limit and I keep calling and have them lower it to $500. It's a hoot to try and convince them you want to lower your limit.

My dad used to say, if you want to stay poor get a credit card.

[mrmccoy]

Originally Posted by rsmith5894

Snakes bite, I don't play with them. After years of playing their games we are CC free and love it! Thanks Dave Ramsey!

Dave is the man! I had one credit card and after one late payment and a
$50 late fee I paid it off the next month. I have also herd that having a credit card with a zero balance for extended amounts of time can hurt your credit score.....

[rsmith5894]

A debit card gives the same protection as a CC when you slide it without using a pin #. Check out visa's website for details. The great thing about using a debit card is that you can't spend money that you haven't yet earned. Calling to argue with these companies over rate changes and credit limits....ugh, that seems like a hassle. I agree mrmcoy, Dave is the man!

[Herbdb]

I use a Chase card that gives me Continental Airlines points. It is set for autopay from my checking account and I put everything on it. No interest, no fees. You can even put your estimated quarterly income tax payments on it.

Our tickets to Cozumel in April are compliments of Chase. Its not often you get something for nothing.

It will be interesting in seeing if Chase will try to change the terms. A previous poster said they were experimenting with the idea. Would hate to see that happen.

[rednose83]

Originally Posted by rsmith5894

A debit card gives the same protection as a CC when you slide it without using a pin #. Check out visa's website for details. The great thing about using a debit card is that you can't spend money that you haven't yet earned. Calling to argue with these companies over rate changes and credit limits....ugh, that seems like a hassle. I agree mrmcoy, Dave is the man!

From what I've read it doesn't but even still if it's coming out of your checking account they already have your money while you dispute. When you are disputing charges on an actual credit card, the business doesn't not have your money. Big difference.

[rsmith5894]

Here is a clip from Visa's site, credit and debit are both protected under the same policy. I agree Rednose83 that the company already has your money during a dispute.....however, in about 15 years of using debit/credit cards to purchase items I've only disputed transactions a couple of times. To deal with what the OP is going through just to be deemed worthy of using Visa or MC's money just doesn't seem worth it.




Shop anywhere with absolutely no risk

Your peace of mind and protection are paramount to Visa. Visa's Zero Liability policy is our guarantee that you won’t be held responsible for fraudulent charges made with your card or account information.1
How it works

@import url(/css/personal-security.css); 1.Shop worry-free
Use your Visa credit or debit card to make purchases at millions of locations. Visa will always protect you from unauthorized use.




Details

2.Report suspicious charges
Review your monthly statement and report any fraudulent charges to your financial institution.




Details

3.Get quick resolution and provisional credit1
If applicable, your financial institution may remove fraudulent credit card transactions or extend provisional credit for losses from unauthorized card use.

Details