New Credit card bill

[ruffryder]

So the new credit card bill that was passed recently goes into effect. I noticed that my bill has changed format and there is some new info posted on it.

I like the idea of telling the amount of time it will take to pay off the credit card when only paying the minimum payment. I remember hearing a credit card lobbyist or whatever stating that information was pointless as it changes with every purchase. Well, no crap, but I think it is important for people to see just how long that it will take to pay it off if they don't use it anymore.

Also nice to see that they have totals of amount of interest paid on the account for the year and other figures like that.

Though, none of this stuff really effects me as I never carry a balance, but with so many people having lots of credit card debt, maybe this stuff will help to wake them up and get them out of debt.

What do you guys think?

 

[maluchm]

Cash and carry for me or I use my debit card. If I don't have the money I don't make the purchase!

 

[94fordguy]

Sounds good to me.

The only reason I ever got into them was to build a credit history... I don't usually charge much on them and always pay them down asap when I do... Otherwise, I pay cash if I want something.

 

[Priest]

I always use my reward cards with points but I always pay before due date and at end of the year I use points for vacation or just cash back.

 

[ruffryder]

I always use my reward cards with points but I always pay before due date and at end of the year I use points for vacation or just cash back.

Yah, that is how I use them as well. Though it seems many Americans don't know how to use them that way.

 

[tc_villain]

I wish I could say I had no balance on my card, but...... Well I havent got a new statement yet, interesting to see the new stuff. Hope they havent jacked up new fee or something like that.

 

[ruffryder]

I wish I could say I had no balance on my card, but...... Well I havent got a new statement yet, interesting to see the new stuff. Hope they havent jacked up new fee or something like that.

I believe that new fees are or will be coming.... and some cards might do away with no annual fee.

My wife has a card that has a annual fee... pissed me off about that... We are going to get rid of it and just share one card.

 

[MTm7]

I believe that new fees are or will be coming.... and some cards might do away with no annual fee.

My wife has a card that has a annual fee... pissed me off about that... We are going to get rid of it and just share one card.

wow you are married...i guess there is someone for everybody! please tell me you guys are not going to 'be fruitful and multiply'?!?!?!?!

 

[ruffryder]

wow you are married...i guess there is someone for everybody! please tell me you guys are not going to 'be fruitful and multiply'?!?!?!?!

We are going to populate the earth with out children. FYI, Women respond pretty good to conversation and thoughtfulness. Maybe you should try that instead of the hitting them upside the head and dragging them back to your cave....

 

[←snow∞motion→]

Cash and carry for me or I use my debit card. If I don't have the money I don't make the purchase!

X2 for me, I don't use their services. I believe the credit card companies have figured out a way to loan shark and be protected by the federal government at the same time

Love my debit card though!! Little warm currently getting ready for summer build time

 

[skibreeze]

X2 for me, I don't use their services. I believe the credit card companies have figured out a way to loan shark and be protected by the federal government at the same time

Love my debit card though!! Little warm currently getting ready for summer build time

What's the difference when you use a cc like a dc? I don't carry a balance on any of my cards, but I pay for everything on a cc and I get cash back on some of those purchases as well as keeps my credit rating current at the same time. This is also an important thing to think about as I don't have any other loans other than my mortgage. It is like anything else, you have to discipline your self to not spend more than you make. No matter how many laws are enacted, stupid people will always find a way to screw themselves.

 

[MTm7]

We are going to populate the earth with out children. FYI, Women respond pretty good to conversation and thoughtfulness. Maybe you should try that instead of the hitting them upside the head and dragging them back to your cave....

what makes you think i dont do that very thing? although there are times when women will only respond well after a good 'dragging'!

sorry for jacking the thread o'ruffy...i just thought that it was apropos that i give you a hard time with my first post since being reinstated!

 

[←snow∞motion→]

What's the difference when you use a cc like a dc? I don't carry a balance on any of my cards, but I pay for everything on a cc and I get cash back on some of those purchases as well as keeps my credit rating current at the same time. This is also an important thing to think about as I don't have any other loans other than my mortgage. It is like anything else, you have to discipline your self to not spend more than you make. No matter how many laws are enacted, stupid people will always find a way to screw themselves.

skibreeze, there isn't a difference, but I choose not to support those companies in any way. I don't agree with their business practices or deception, and honestly I wouldn't use my debit card, if it wasn't so dang hard to do anything without plastic.

I commend you on the fact you pay your balance off each month, but sadly many people don't, which only fuels the crooks running the big banks. Or they set out with the intention to pay off their balance each month, but then start to say, "I'll pay it next month" or a "Family Emergency" arises and then before long they are drowning in debt. Then the companies aren't sympathetic to the problems incurred from that point on.

 

[ruffryder]

as to the difference between credit cards and debit cards, I think the credit card is much more secure. If someone steals your credit card, they aren't spending your money, they are spending the credit card companies. I have heard that using paypal with a credit card is better then tying it to a bank account. Just what I have heard through other peoples experiences.

I use one credit card for everything I can. I fly to Illinois to see family once a year for free with it.

 

[ruffryder]

sorry for jacking the thread o'ruffy...i just thought that it was apropos that i give you a hard time with my first post since being reinstated!

glad you are putting it to good use.... lol

 

[snowmobiler]

sweet.only 37 years left and my sled will be paid off

 

[Wheel House Motorsports]

sweet.only 37 years left and my sled will be paid off

AHAHAA...

Being only 20 its easy for peopel to get into CC debt fast buying crap they definately cant afford. I use my debit card or cash right now.. only reason I ahve a card is so I can buy gas at night(got stranded at a gas station in the middle of nowhere with a checkbook at night) other then that I just use it so I dont end up with like $1000 in change I lose all the time. never spend more then I make and it works good... also makis buying things online a LOT nicer..

I might be getting a CC and using it to pay for gas and just pay it off, this way I can actually establish some credit so I can get a decent loan for a truck.... If used like a debit card they are a very good tool.. helps keep the credit score good and allows you to gain points rewards for a lot of people.