Making money with credit card

[beowulf]

Your sig says, "nothing is permanent." I beg to differ. Do you know what it is?

I guess dealing with "change" would be permanent. Otherwise, not sure.

 

[Torvy]

Ha, didn't expect this subject to be on a tractor site. It's sad that they don't teach us how to use our credit in schools, especially since your credit score is such a big factor in life. I am fortunate enough that I now make a decent living, and can afford to pay extra on my auto note. Just an extra $100 cuts into the principle, and in the long run saves thousands off the interest.

Thanks for the education on credit cards and different types, I personally don't have many when I do go shopping, I will know which ones to get for sure.

We absolutely do teach this in schools. I worked for two of the biggest credit card issuing banks. Now I teach economics. In Texas it is required for graduation.

 

[lman]

I added an accross the board increase of 2.5% to my billing program. At the time bill is paid, if they request cc payment, i simply run the bill. If they say they want to pay cash or check, I take the 2.5% off of the bill. Its a simply check mark on my iPad billing program.

So you're making money from the cc company and your customers. Not a bad gig.

 

[ultrarunner]

One Saturday I stopped in my local Polaris dealership, prior to COVID when they had inventory, and ended up buying a Ranger. I didn't feel like going through their financing BS, so I just paid with my CC and would transfer money on Monday to pay for it. I knew I would get 3% cash back, which would end up paying for 1/2 the sales tax. Ran it and out the door I go.

Two months later I get a call from the dealership saying they should not have allowed me to pay with my card because they had to pay a 2.5% processing fee on the entire purchase price, which was around $500. They asked if I would pay that as they have to pass on processing fees. I said lets talk in person. So I go in and talk with the Owner and Manager. Now I had no intention of fighting them and saying, your **** out of luck, as they service the machine and I am always buying something. So it was not in my best interest to screw them over on such a small amount of money. I ended up paying them the $500, but I did get 3 fluid changes out of the deal. Which was agreeable to both parties.

Now if they ever have that situation again, they will increase the price of the machine by 2.5%.

There is no free lunch...you pay for the pleasure to use the card, one way or another.

I though you were taking it back to cancel the sale since no meeting of the minds occured...

 

[WM75Guy]

GM Card gives me 5% on all purchases towards a GM car. Earn up to $500 a year, up to $3500 discount on a car. So far I've bought 3 GM cars and saved $10,500. Waiting for the car price frenzy to subside and may buy a 4th next year.

I also have a GM card and use points every time I buy a vehicle. I have also enrolled in the GM My Rewards owner loyalty program where I get points for service work, parts, and the Onstar monthly bill. I buy parts at the dealership, as I only use GM parts such as DEF and batteries, as it is cheaper than O'Reilly. I normally have enough points to redeem that oil changes are free or close to it.

 

[Doughknob]

I guess dealing with "change" would be permanent. Otherwise, not sure.

Hmmm, if a person desires, dealing with change could be avoided. Might be tricky but could be avoided. I actually know someone who is mostly an old hermit and does very well avoiding change.


But keep thinking my friend......

 

[ultrarunner]

Hmmm, if a person desires, dealing with change could be avoided. Might be tricky but could be avoided. I actually know someone who is mostly an old hermit and does very well avoiding change.


But keep thinking my friend......

It's not fear of change but often comfort with the familiar...

Going to mom's not much has changed since 1969 except the addition of over range microwave in 1978...

Same appliances, color TV, rotary daily phone, mercury thermostat, etc...

No need to go back in time if you never left... especially helpful for those with failing memory...

 

[lman]

It's not fear of change but often comfort with the familiar...

Going to mom's not much has changed since 1969 except the addition of over range microwave in 1978...

Same appliances, color TV, rotary daily phone, mercury thermostat, etc...

No need to go back in time if you never left... especially helpful for those with failing memory...

We still had a black and white TV in 69.

 

[ultrarunner]

We still had a black and white TV in 69.

Parents frugal in everything... Including credit card as in a single Bank Americard... always used cars, push mower, never cable tv or A/C but dad had a friend that owned a TV store and one day dad and his friend came home with the Zenith Console TV on a trail. .

Shop owner said keep it a week and if you don't like it bring it back... a handshake deal...

We were never first with anything except that TV... all week and more neighbors were dropping over to see it... we had 15 minutes of fame and now it works with a convertor box but same rabbit ears.

It's on right now...

 

[Herness]

For the past 10 years or so I started using my cc for everything I would normally write checks for, utilities, insurance, food, gas,property tax, etc. Each month I pay the balance the statement shows. Therefore I do not pay interest on the card, secondly, I get points worth cash, every 4 months I build up 350.00 to 400.00 cash value. I apply the cash to my cc card balance. In past 10 years I have paid Credit card company zero, nada,zip and they have paid me over 9,000.00 cash over 10 years.
Thought this might be worth mentioning, for the ones that are unaware. Whatever you buy on cc make sure you can pay at statement time.

That is a huge discovery to me. I guess i need to educate myself more. The Hartford Gold Group reviews are not bad here, would love to learn a little more about financial market from them one day.