When did credit cards start doing this?
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6 years ago
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Starting Small...When to accept credit cards
Comments (8)Ok .. here is my experience. Cons ... Credit cards will add an additional complexity to your business accounting ... A bit more liability ... There are some start up cost to get started. More overhead ... ( fixed overhead even if you don't use the card ) It's not free .. you will give a percentage on everything you charge .. If you do not use the credit card often enough and don't maintain a high enough volume of credit sales keeping the cards will become a dead end expense ...so look over your sales history. Also .. if a client cancels a sale it will cost you .. you need to decide how to handle this transaction. Pros ... I have made some sales that would of been impossible without the cards .. you will have an additional sales tool when the client needs to pay. Cash or charge ?? Myself I did a lot of small repair jobs .. irrigation .. the card was very useful ... overall offering credit cards was useful but you need to keep credit sales up to make the card worthwhile. By the way there are a lot of scams out there .. sometimes a small new company may have a hard time getting set up with credit cards .. you need a credit history / bank account ect .. there are scam artist out there that promise to set you up with credit cards and sell you very expensive contracts or gear ect .. shop around .. there are some start up cost involved but these should be very modest. Good Day ......See MoreI want to quit credit cards!
Comments (35)Tricia It was my understanding the opt out stops anyone from taking a look see at your credit to know how much credit they will offer when sending a credit card offer?? As far as anyone you already have a relationship with I just called the few we got and ask to be put on their opt out list. I even opted out of our own bank, credit union and savings institutions. The only thing I get is statements and notices when a CD is coming due. We didnt get any junk mail for years until a few months ago. I will be turning 65 this year and am now getting 8 to10 offers a week from every insurance company in the world. At first I was calling and asking them to please take me off the mailing list but now have just given up and shred everything. I would like to know how I got on these lists but havent found an answer yet. SS and Medicare both say they do not share any information. I am even getting this junk addressed to me at my dads address. Very frustrating for him. We dont have home mail delivery so even my post master if upset that he cant get all my mail in my P.O. Box. I told him to just send it back but of course he cant. As far a credit scores I will never understand how that works. About 12 or so years ago our accountant ask me how many credit card I had in my wallet. We got to figuring it out and came up with an obscene amount of available credit. I had cards for way to many department stores that I never used. I had had them for years so the limits were high. I closed everything but the one credit card that was tied to our checking account and the debit card for the same account. I had our bank set out credit limit at ten thousand so it never goes any higher. I pay it off every month. I also had them set the limit on our debit card higher so each of us has a thousand dollar a day limit. When DH ordered me a new car a few years ago he was told we have the highest credit score the dealership had ever seen and mine was 2 points higher that his. I havent worked in over 20 years so how does that happen? I check our accounts every morning as soon as I get on the computer and pay the credit card from the checking account as soon as the cycle ends. We have one of those very old gold accounts so we dont have any fees or pay for anything including cashiers check and travelers checks. The manager at the bank told me to never close it. I pay all our bills on line and never have had a problem. So my next question is should I keep the checking account statements or just shred them? Claudia...See MoreAre credit cards ever paid off?
Comments (17)Thanks for all the info! It was a hard step to take out that equity loan because I knew that it is eating up the house. But I really saw no other alternative. I think I will call the CC that are sending me the "interest" bills to make sure I can get them paid off in 1 sweep. [Interest on a $20 balance that is never going to get paid off? That's the problem if I can't get an exact amount on an exact date].I am hoping that by doing this we'll have more $$ to put towards the equity loan and mortgage to pay them down-even if it's only a little bit each time. I do pay all my bills online (i.e. electronically) through their websites. I found out the hard way a few yars ago that to try to set it up from my bank that even though I put in the date I wanted something paid - it wasn't until the company came and "drew" the $$ (that the bank had put a hold on) which made a few bills late-took up to 5 days. So by paying them though the company's site I get a payment date on the date I request. I didn't set up the bi-weekly mortgage though Wells Fargo (even though they were offering it free) becuase I didn't want them "holding" my $$ for 2 wks until the 2nd draw then pay to the mortgage. I now am putting it in a separate bank account and I will electronically pay it each month-with me deciding to add the extra. (And this way if I can't afford extra the $$ is there for my emergencies). [Like the $432 vet bill for one of our dogs this week-unexpected illness yuck!] RA...See MoreAbout giving your ZIP code when using a credit card
Comments (19)Pay at the pump often asks for it. It's common sense. If the card is stolen the perp probably won't know the zip code. Wildchild put it aptly. This is a scare tactic by an outfit trying to raise money and scare people into signing up. Shame on them. No way will I ever support that scam outfit now. They *did* admit that there's marketing reasons to ask for a zip code. But really, identity theft from a zip code is approaching laughable. There may be some outfits with ulterior motives but not all as that scam outfit suggests. If you're that paranoid, just give a different zip. But if it's a verification, you might not be able to make the purchase or worse, have to explain to the cops when they question whether you stole the card! LOL Even those who go so crazy over phone numbers need to think a bit. When I make online purchases they need the phone number registered to the credit card to verify the card is good. And I've had random checks to be sure that I was making a purchase too. As far as junk mail, credit card outfits already sell your name, theoretically you can opt-out but I'm not sure about that with some of them. Isn't it ironic that AARP should talk about *junk* mail? LOL I get more junk mail from cAARP than from any other outfit. The way they cull public records to gain mailing lists and prey on the vulnerable and now this? That outfit has had little respect from me in the past and now exploiting the vulnerable even more. They're disgusting....See MoreUser
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