Oakley: Was it a debit card? I wonder if debit cards have tighter rules. But then again, my ATM won't dispense more than a few hundred at a time. I'm sure the bank would say they don't want big spenders emptying them out and keeping other patrons from getting money. BLFenton: I get your point about building a credit record. But people can -- and do -- overdraft their accounts. Some people are responsible using them; others try to game the system. Banks have built-in mechanisms that allow them to permit the overdraft and then charge the user high fees to cover it. Some users don't even notice the charge part in their card agreement. (How can they not know they don't have enough funds to cover a purchase? One situation: similar to writing a check and thinking the bank has deposited your paycheck already when really it's on hold and hasn't 100% cleared.) Bank of America, not too long ago, settled a case about debit-card overdraft fees for $400million. Card issuers need to make money somehow on these debit cards, which are typically given to you for free with your bank account. Credit-card issuers, at least, can charge an annual fee. That's why Bank of America tried to start that $5 debit card fee.

I can see this being a system used by some folks in an earlier, simpler time when it was difficult to find money for some "mad" project ... or to get some major task (buy a wagon, renovate a kitchen, etc.) taken care of that one didn't need to do at a specific time. I see it as there being no large pot of money. Each week (month?), 10 people put in $50.00 (or whatever agreed amount) each, and one person gets the full amount, using it for a task that they've wanted to do for a time but couldn't afford, or collect enough money to do. Whether they put names into a hat, and draw one out to decide who gets the first pot, they would have some pattern in how to distribute it. Next week/month, everyone puts in their $50.00, and another person gets it, whether by picking one of the rest of the names out of a hat, or according to the pre-determined pattern, or by whatever means of deciding. Next week/month, everyone gathers and contributes their $50.00 each, and a third person gets it. As such plans began in an earlier time, when people in a community knew one another well and there was little moving around, it would be among a group of long-term friends ... and a person who had a reputation for scamming wouldn't be invited in, in the first place. After ten weeks/months, everyone gets the payout one time. I think that the term would more likely be at least a month, for gathering those $50.00 bundles would be a substantial task, and would take a while to accomplish ... especially when multiplied by ten, in uninterrupted sequence. It's a forced saving plan. Sort of like Weight Watchers, I think - a lot more difficult to quit if you're in a group, where you'd be embarrassed to default, more possibility of success than if you've simply agreed with yourself, with no outside "police" method to keep you honest, or continuing to participate. What's your success rate at keeping your New Year's resolutions?? As for putting the $500.00 on the credit card ... are you going to be ready to come up with the full $500. by next month? If not ... it's going to cost you a pretty penny, if you let much of the debt run for ten periods! If you're willing to postpone your benefit for 10 weeks/months, and have the discipline to make the contribution each week, use the bank account ... but the amount of "extra" that the bank offers may buy an all-day sucker ... but maybe not ... ... and how long did that "all-day" sucker last, can you recall? Hey - here's an idea ... ... how be you start your own bank? Get the gov't. to support you with a major loan ... at no interest ... and lend the money out, at a substantial interest rate ... ... and a substantial fee if the borrower gets his payment in one day late, etc. You know the game. On the other hand ... ... hasn't one of the major problems of our economy been in recent times that we tried to run before we knew how to walk? And the whole buying-thing-before-we-had-the-money got us into a bucket of trouble! It looks as though the leaders of the Big Banks, having claimed to have paid back all of the gov't. bail-out ... ... ???????????????????????? ............... ... now feel that they're justified in paying themselves those huge year-end bonuses!!!!!! As some have said ... ... they just don't get it. Trouble is - the rest of us just don't get it. Gov't.'s been bailing out major coporations for years. Socialism for those well-connected (or "too big to fail") ... ... private enterprise for the rest of us (the little guys). Seems to me that for most of us, if we'd darn near run our company into the ground ... ... we'd be out on the street, looking for a job (with no letter of reference from former employer). New meaning of "BBB" (in additon to "Better Business Bureau") - how about "Beaastly Bankrupt Bankers"??!! Have yourselves a great (and prosperous) New Year, O.K.? ole joyful

Last year a really expensive camera was delivered to my house. What was odd is I never ordered a camera from this online website. $1400 was charged to my American Express card though. I sent an email to the company and said I wanted to send it back because I never ordered it and they could credit my card. I then received a return label to send it back. Packed it up an sent it back, but the company never received the camera. I had sent it back return receipt requested to avoid this very claim. The company then wanted to know where I had sent it to. I sent all of my paperwork to them and they said #1 we do not use the USPS we use UPS and #2 they knew nothing about the address I had sent the camera to. Low and behold, I looked up the address on google maps and saw it had been returned to a house that looked like a migrant workers house. American Express fought the charge and it was removed from my bill. (I love Amex for this reason). PLEASE BE CAREFUL!!! I can only think they hacked into my email as well as using my credit card number. It is really scary knowing how devious some can be.

dedtired, with that 8K purchase, that you paid off after a few days, and accumulated a lot of points ... would there have been fewer points given if you'd let the amount owing run till after the billing date? If not, as Elmer suggested to several, why bother? Granted ... all the interest that 8K will accrue in 15 - 45 days or so won't buy many ice cream cones! But, as I've often suggested to young folks, general public, financial workers, etc., "Learning how money works is an interesting hobby ... and IT PAYS WELL!" Taxes, too! _________________________ Don't know whether this is current, or how many may follow it, but I've heard that it's part of the contract many credit card issuers require of the dealers is that they can't offer discounts for cash purchases. Which annoys me, paying for many of my purchases with cash. Maybe I should ask a store with the credit card sticker on the door whether there's a discount for cash, and if none, walk out, leaving the goods behind. But ... then ... there's my time ... and letting the annoyance get to me. Plus, with my "credit" (read "debt") card ... being old, and forgetful, don't help, when they want you to have a mess of capital and small letters, numbers, symbols, etc. for your PIN ... and change it frequently ... ... how was that, again, please? ole joyful