CloverKnollFarms
Elite Member
All true. We probably have $400 cash back each year which is nice
Is the interest rate worth the credit history?
All true. We probably have $400 cash back each year which is nice
CloverKnollFarms
Elite Member
Same. I don't like it, because if something increases in cost, you won't see it. And if it's a subscription, you'll forget you are even paying for it. I want to see and feel every transaction
CloverKnollFarms
Elite Member
Hell, we paid $100k for our pole barn on a credit card. The cash back reward was $1000. 
WM75Guy
Elite Member
Yes, there is an advantage. I pay my bills and buy everything with my BOA credit card. It is a cash back card based on the type of purchase, see below. Plus, I get an additional 75% bonus of the base reward due to my BOA Platinum Honors status. I have my Bill Pay set to pay the balance off every month so no interest charges. So far this year I have received $1,152 cash back, last year was $2,200.
My wife uses her Hilton Honors American Express card for all her purchases. It accrues Hilton points based on purchases. Due to the amounts of points we earn every year we are Hilton Diamond status, so we get perks for the stay like free bottled water, faster wifi, access to the Executive Lounge, and usually a complimentary upgrade on every stay. Because we use points, we have not had to pay for a hotel room in years.
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newbury
Super Star Member
- Joined
- Jan 8, 2009
- Messages
- 14,072
- Location
- From Vt, in Va, retiring to MS
- Tractor
- Kubota's - B7610, M4700
C'mon - What it boils down to is that the boy HAS a good FICO, a good job and great parents.
UNLESS you see any "danger" of him being shipped to the moon LOAN him the $$.
My parents and grandparents did it for me in the '70's. A few thou for car, house, etc. All at interest rates of what they were getting in their savings bank where the money came from. All paid back quickly.
We've done the same for our children. Agreed paid back time, family deal on interest (Although it did get a little ridiculous when savings rates got down to < 1%).
My daughters husband has been a quick payback type guy - We've been "loaning" them for house, car, house addition, etc. (probably ~50K all told over the last 5 years) and EVERY darn time he feels they have to pay it back quickly, and usually within a year.
Sometimes make me wonder why they bother to borrow in the first place.
So Sigarms loan him the $$, save him the loan fees and interest, and feel proud of it.
UNLESS you see any "danger" of him being shipped to the moon LOAN him the $$.
My parents and grandparents did it for me in the '70's. A few thou for car, house, etc. All at interest rates of what they were getting in their savings bank where the money came from. All paid back quickly.
We've done the same for our children. Agreed paid back time, family deal on interest (Although it did get a little ridiculous when savings rates got down to < 1%).
My daughters husband has been a quick payback type guy - We've been "loaning" them for house, car, house addition, etc. (probably ~50K all told over the last 5 years) and EVERY darn time he feels they have to pay it back quickly, and usually within a year.
Sometimes make me wonder why they bother to borrow in the first place.
So Sigarms loan him the $$, save him the loan fees and interest, and feel proud of it.
Torvy
Super Member
Two types of auto pay. Push and pull. I like push, where you set it up on your end. I don't let them pull from my account.
jyoutz
Super Member
I do it for certain things like mortgage, auto loan, and utilities only. Not for anything else.
Torvy
Super Member
Bank I worked for bought Best Buy's card program. They were so disgusted when secret shopping stores, they sold it at a loss. BB was too slimy for the bank.The ONLY reason why I even enter Best Buy and have their credit card (only 2 others through credit union) was for my first Mac desktop years ago. 24 month same as cash baby!! I have to keep reminding myself that when I go in and I need to ask for help
Torvy
Super Member
Nice. A lot of big ticket items will not let you use a card. We tried when we bought the 'kid' car. It was about $5k. Dealership wouldn't do it.Hell, we paid $100k for our pole barn on a credit card. The cash back reward was $1000.
jyoutz
Super Member
Yeah, with automatic payments you do need to monitor the account debits to know what is happening. The only fluctuations I see are utilities; mortgage and auto loan is the same every month. But that’s easy to monitor online.