Comments on: Tune up your credit cards! http://probargainhunter.com/2007/03/27/tune-up-your-credit-cards/ News, Tips and Resources for Online Bargain Hunters Wed, 19 Nov 2008 05:48:12 +0000 http://wordpress.org/?v=2.6.2 By: Steve "The Credit Card Debt Man" B http://probargainhunter.com/2007/03/27/tune-up-your-credit-cards/#comment-26625 Steve "The Credit Card Debt Man" B Sun, 15 Jul 2007 21:23:47 +0000 http://probargainhunter.com/2007/03/27/tune-up-your-credit-cards/#comment-26625 Using credit cards irresponsibly will be financial death. Has anyone seen the credit card documentary "Maxed Out", hits the nail on the head. Paying minimum payments will take decades to pay off and will cost you tens of thousands of dollars in the long run. Its called the credit treadmill. Using credit cards irresponsibly will be financial death. Has anyone seen the credit card documentary “Maxed Out”, hits the nail on the head. Paying minimum payments will take decades to pay off and will cost you tens of thousands of dollars in the long run. Its called the credit treadmill.

]]> By: Gillian http://probargainhunter.com/2007/03/27/tune-up-your-credit-cards/#comment-20375 Gillian Wed, 02 May 2007 07:35:36 +0000 http://probargainhunter.com/2007/03/27/tune-up-your-credit-cards/#comment-20375 I, personally, am in search of the best gas reward credit card. Everybody uses a car and I guess this is the most practical card for me as of the moment. But you're right, I should figure out first the combination of cards that would work best for me. I, personally, am in search of the best gas reward credit card. Everybody uses a car and I guess this is the most practical card for me as of the moment. But you’re right, I should figure out first the combination of cards that would work best for me.

]]> By: credit card fan http://probargainhunter.com/2007/03/27/tune-up-your-credit-cards/#comment-20063 credit card fan Mon, 30 Apr 2007 04:23:13 +0000 http://probargainhunter.com/2007/03/27/tune-up-your-credit-cards/#comment-20063 Good post! I hold three credit cards and enjoy their use(by the way one of them is Blue Sky from AmEx for frequent flier miles, that works very well). It is no doubt, credit cards are convinient. When I need cash and do not have it, credit cards always help me. Good post! I hold three credit cards and enjoy their use(by the way one of them is Blue Sky from AmEx for frequent flier miles, that works very well). It is no doubt, credit cards are convinient. When I need cash and do not have it, credit cards always help me.

]]> By: XynamaX http://probargainhunter.com/2007/03/27/tune-up-your-credit-cards/#comment-12497 XynamaX Fri, 30 Mar 2007 00:03:14 +0000 http://probargainhunter.com/2007/03/27/tune-up-your-credit-cards/#comment-12497 It's a brand loyalty thing, yes, you might get more of a reward, but you're definitely limited to where you can spend it. If you stick with Amex Membership Rewards, you can get a free round-trip ticket for I think 20,000-25,000 points on most of the major US carriers, and you're not just limited to airline rewards. The rewards program is pretty good, it's equivalent to about 1% cash back if you redeemed your points for gift certificates (100,000pts = $1000 gift card to home depot, crate & barrel, etc etc). -Richie It’s a brand loyalty thing, yes, you might get more of a reward, but you’re definitely limited to where you can spend it. If you stick with Amex Membership Rewards, you can get a free round-trip ticket for I think 20,000-25,000 points on most of the major US carriers, and you’re not just limited to airline rewards. The rewards program is pretty good, it’s equivalent to about 1% cash back if you redeemed your points for gift certificates (100,000pts = $1000 gift card to home depot, crate & barrel, etc etc).

-Richie

]]> By: Mike G. http://probargainhunter.com/2007/03/27/tune-up-your-credit-cards/#comment-12203 Mike G. Thu, 29 Mar 2007 04:34:13 +0000 http://probargainhunter.com/2007/03/27/tune-up-your-credit-cards/#comment-12203 Good point. USAirways is the dominant carrier here in Philly so it's not that bad. Plus you get express check-in. :) Good point. USAirways is the dominant carrier here in Philly so it’s not that bad. Plus you get express check-in. :)

]]> By: Yan http://probargainhunter.com/2007/03/27/tune-up-your-credit-cards/#comment-12196 Yan Thu, 29 Mar 2007 03:26:41 +0000 http://probargainhunter.com/2007/03/27/tune-up-your-credit-cards/#comment-12196 Well, I consider airline credit cards a sort of scam since you are limited to just one airline to redeem your points. Another example is the GM card by Chase that offers straight 5% cash back on all purchases. The catch is you can only redeem it against a new GM car. What kind of reward is this? I prefer the freedom of Blue Cash or other cards that don't get you on a hook with any particular company or merchant. Well, I consider airline credit cards a sort of scam since you are limited to just one airline to redeem your points.

Another example is the GM card by Chase that offers straight 5% cash back on all purchases. The catch is you can only redeem it against a new GM car. What kind of reward is this?

I prefer the freedom of Blue Cash or other cards that don’t get you on a hook with any particular company or merchant.

]]> By: Mike G. http://probargainhunter.com/2007/03/27/tune-up-your-credit-cards/#comment-12191 Mike G. Thu, 29 Mar 2007 03:08:04 +0000 http://probargainhunter.com/2007/03/27/tune-up-your-credit-cards/#comment-12191 Hey Yan, Have you tried any Airline credit cards for frequent flier miles? I have USAirways card which has worked well. Hey Yan,

Have you tried any Airline credit cards for frequent flier miles?

I have USAirways card which has worked well.

]]> By: Yan http://probargainhunter.com/2007/03/27/tune-up-your-credit-cards/#comment-12152 Yan Wed, 28 Mar 2007 19:46:30 +0000 http://probargainhunter.com/2007/03/27/tune-up-your-credit-cards/#comment-12152 That is what I never understood, why do people still use cash in supermarkets? Please enlighten me! Don't tell me swiping a card takes longer than paying with cash. The only reason I can understand is concern of possible identity theft. However this is just one little bit that contributes to the whole issue. All my friends who became a victim got in trouble for other reasons, some totally out of their control. That is what I never understood, why do people still use cash in supermarkets? Please enlighten me!

Don’t tell me swiping a card takes longer than paying with cash. The only reason I can understand is concern of possible identity theft. However this is just one little bit that contributes to the whole issue. All my friends who became a victim got in trouble for other reasons, some totally out of their control.

]]> By: Beverly http://probargainhunter.com/2007/03/27/tune-up-your-credit-cards/#comment-12146 Beverly Wed, 28 Mar 2007 16:55:02 +0000 http://probargainhunter.com/2007/03/27/tune-up-your-credit-cards/#comment-12146 I am totally different when it comes to every day purchases - I prefer doing plain cash (wherever I can)and save "time and money"...since My time is money! Even though there's the "on-line paperless feature," it's still losing valuable time on keeping control. Of course, I wouldn't survive without credit cards, but I had to narrow down my "charging trend" to avoid the bookeeping. I am totally different when it comes to every day purchases - I prefer doing plain cash (wherever I can)and save “time and money”…since My time is money! Even though there’s the “on-line paperless feature,” it’s still losing valuable time on keeping control. Of course, I wouldn’t survive without credit cards, but I had to narrow
down my “charging trend” to avoid the bookeeping.

]]> By: Yan http://probargainhunter.com/2007/03/27/tune-up-your-credit-cards/#comment-12136 Yan Wed, 28 Mar 2007 15:18:43 +0000 http://probargainhunter.com/2007/03/27/tune-up-your-credit-cards/#comment-12136 Totally agree on the first point. I am sure this is the trap which the banks hope you will get into as you sign up for a rewards credit card. In that respect here is a good reading: http://www.wisebread.com/insiders-tip-how-rewards-credit-cards-end-up-costing-you-more Re Amex Blue, try increasing the total amount you spend monthly to say $3700 and you will notice that Amex Blue takes place as the best card. The card has progressive rewards ladder meaning you get very little initially (during the year) but more as you go. $3700 a month is apparently the threshold when it makes sense to use it. Totally agree on the first point. I am sure this is the trap which the banks hope you will get into as you sign up for a rewards credit card. In that respect here is a good reading:
http://www.wisebread.com/insid.....g-you-more

Re Amex Blue, try increasing the total amount you spend monthly to say $3700 and you will notice that Amex Blue takes place as the best card. The card has progressive rewards ladder meaning you get very little initially (during the year) but more as you go. $3700 a month is apparently the threshold when it makes sense to use it.

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