Comments on: Ask the Readers – Are You Employed at Credit Card Inc? http://moneyning.com/credit-cards/ask-the-readers-are-you-employed-at-credit-card-inc/ A personal finance blog where we share insights on carefully saving money, investing, frugal living, coupons, promo codes because the little things matter in achieving financial freedom! Sun, 21 Mar 2010 17:05:29 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: Robert Brakensiek http://moneyning.com/credit-cards/ask-the-readers-are-you-employed-at-credit-card-inc/comment-page-1/#comment-17982 Robert Brakensiek Mon, 10 Aug 2009 00:01:42 +0000 http://moneyning.com/?p=3481#comment-17982 Credit card companies deal in volume. They expect a certain number of defaults and write-offs, its just the cost of doing business. It does not surprise me at all that this person has all these credit cards. I may hurt later for other types of credit. Credit card companies deal in volume. They expect a certain number of defaults and write-offs, its just the cost of doing business.

It does not surprise me at all that this person has all these credit cards. I may hurt later for other types of credit.

]]> By: Kathryn Doyle http://moneyning.com/credit-cards/ask-the-readers-are-you-employed-at-credit-card-inc/comment-page-1/#comment-17969 Kathryn Doyle Sun, 09 Aug 2009 14:37:19 +0000 http://moneyning.com/?p=3481#comment-17969 I love this post! I admire people who use common sense and have their cards work for them but, you bring up a great point - When does it just cross the line from common sense to obsession? Well written and funny ;) I love this post! I admire people who use common sense and have their cards work for them but, you bring up a great point –

When does it just cross the line from common sense to obsession?

Well written and funny ;)

]]> By: MoneyNing http://moneyning.com/credit-cards/ask-the-readers-are-you-employed-at-credit-card-inc/comment-page-1/#comment-17956 MoneyNing Sun, 09 Aug 2009 01:39:17 +0000 http://moneyning.com/?p=3481#comment-17956 I seriously need to look into this card. I'm not too fond of paying $12.99 a trade for the Charles Schwab experience (when others are charging nothing) but the 2% rewards is VERY tempting. I seriously need to look into this card. I’m not too fond of paying $12.99 a trade for the Charles Schwab experience (when others are charging nothing) but the 2% rewards is VERY tempting.

]]> By: RB @ RichBy30RetireBy40 http://moneyning.com/credit-cards/ask-the-readers-are-you-employed-at-credit-card-inc/comment-page-1/#comment-17945 RB @ RichBy30RetireBy40 Sat, 08 Aug 2009 18:31:43 +0000 http://moneyning.com/?p=3481#comment-17945 I honestly put EVERYTHING on my one personal credit card. Why? B/c I get a 1% home rebate that goes towards paying down my principal i.e. spend 100K, and $1,000 goes to paying of my primary home residence. Granted, it's not the best deal at all, but it keeps me disciplined. The main reason I put everything on my card is b/c it helps track everything I spend a month. I set a limit of say $1,500.. and don't go beyond it. The CC gives me a play by play of what i've spent, and how much I have left. Best, RB RB30RB40 I honestly put EVERYTHING on my one personal credit card. Why? B/c I get a 1% home rebate that goes towards paying down my principal i.e. spend 100K, and $1,000 goes to paying of my primary home residence.

Granted, it’s not the best deal at all, but it keeps me disciplined. The main reason I put everything on my card is b/c it helps track everything I spend a month. I set a limit of say $1,500.. and don’t go beyond it. The CC gives me a play by play of what i’ve spent, and how much I have left.

Best,

RB
RB30RB40

]]> By: Wilson Pon http://moneyning.com/credit-cards/ask-the-readers-are-you-employed-at-credit-card-inc/comment-page-1/#comment-17932 Wilson Pon Sat, 08 Aug 2009 07:46:47 +0000 http://moneyning.com/?p=3481#comment-17932 I personally own a Citi Forward Card. So far, I satisfied with the bonus points and have already redeemed some goods with it! I personally own a Citi Forward Card. So far, I satisfied with the bonus points and have already redeemed some goods with it!

]]> By: Ben http://moneyning.com/credit-cards/ask-the-readers-are-you-employed-at-credit-card-inc/comment-page-1/#comment-17927 Ben Sat, 08 Aug 2009 04:01:49 +0000 http://moneyning.com/?p=3481#comment-17927 You can use mint.com nowadays to keep track of when cards are due, this is helpful to keep from forgetting that you used your Kohl's card to get that extra 30% off to buy basketball shorts and forgot it happened. Aside from the cashback awards some cards offer nice side benefits such as extended warranties, rental car insurance match, concierge services, free credit scores, etc that can come in handy for a specific situation (I think Bank of America cardholders can get access to museums for free this month or something). Not to mention several lucrative sign up bonuses (free t-shirt yeah!). Finally, most credit issuers have a cap on how much exposure they're willing to give any one customer so having multiple relationships can improve your total debt to credit ratio and in some cases qualify you for higher credit limits than you could afford in your wildest dreams (25% gross annual salary . . cc companies you're so silly) You can use mint.com nowadays to keep track of when cards are due, this is helpful to keep from forgetting that you used your Kohl’s card to get that extra 30% off to buy basketball shorts and forgot it happened. Aside from the cashback awards some cards offer nice side benefits such as extended warranties, rental car insurance match, concierge services, free credit scores, etc that can come in handy for a specific situation (I think Bank of America cardholders can get access to museums for free this month or something). Not to mention several lucrative sign up bonuses (free t-shirt yeah!). Finally, most credit issuers have a cap on how much exposure they’re willing to give any one customer so having multiple relationships can improve your total debt to credit ratio and in some cases qualify you for higher credit limits than you could afford in your wildest dreams (25% gross annual salary . . cc companies you’re so silly)

]]> By: Mandi http://moneyning.com/credit-cards/ask-the-readers-are-you-employed-at-credit-card-inc/comment-page-1/#comment-17918 Mandi Fri, 07 Aug 2009 17:55:10 +0000 http://moneyning.com/?p=3481#comment-17918 Funny- I actually DID work at a credit card company a few years ago. Just a few thoughts: 1- Many cards actually have a cap on the total value of rewards. So if you get 2% back on gas, its actually 2% up to a certain value (let's say $1000). 2- Opening multiple cards in a quick timeframe really can damage your credit. However, if you already opened a bunch of cards, don't close them all at once. That hurts too! 3- I suggest shopping around if you do plan to get a new rewards card. Compare "extra" programs that are in addition to the normal rewards. A few companies have online shopping sites, seasonal programs, and other "extras" that help earn additional points, cash, or miles. You can also find different rates depending where you apply- look in the coupon section in the newspaper, on the Card companies' websites, Google, and your mail. I would bet they are all different rates and offers! There are also cash back or points sites where you can earn just for opening a new Card. Funny- I actually DID work at a credit card company a few years ago. Just a few thoughts: 1- Many cards actually have a cap on the total value of rewards. So if you get 2% back on gas, its actually 2% up to a certain value (let’s say $1000).

2- Opening multiple cards in a quick timeframe really can damage your credit. However, if you already opened a bunch of cards, don’t close them all at once. That hurts too!

3- I suggest shopping around if you do plan to get a new rewards card. Compare “extra” programs that are in addition to the normal rewards. A few companies have online shopping sites, seasonal programs, and other “extras” that help earn additional points, cash, or miles. You can also find different rates depending where you apply- look in the coupon section in the newspaper, on the Card companies’ websites, Google, and your mail. I would bet they are all different rates and offers! There are also cash back or points sites where you can earn just for opening a new Card.

]]> By: marci http://moneyning.com/credit-cards/ask-the-readers-are-you-employed-at-credit-card-inc/comment-page-1/#comment-17894 marci Fri, 07 Aug 2009 02:39:09 +0000 http://moneyning.com/?p=3481#comment-17894 Just his managers - not every one.... altho everyone gets extra bennies of some sort. Just his managers – not every one…. altho everyone gets extra bennies of some sort.

]]> By: marci http://moneyning.com/credit-cards/ask-the-readers-are-you-employed-at-credit-card-inc/comment-page-1/#comment-17893 marci Fri, 07 Aug 2009 02:38:07 +0000 http://moneyning.com/?p=3481#comment-17893 Re: Clunkers. The person traded in the clunker must have legally owned the clunker/titled it, for the previous year before turning it in. I believe that stipulation was put in there to prevent just such a thing from happening :) Re: Clunkers. The person traded in the clunker must have legally owned the clunker/titled it, for the previous year before turning it in. I believe that stipulation was put in there to prevent just such a thing from happening :)

]]> By: MoneyNing http://moneyning.com/credit-cards/ask-the-readers-are-you-employed-at-credit-card-inc/comment-page-1/#comment-17891 MoneyNing Fri, 07 Aug 2009 00:35:28 +0000 http://moneyning.com/?p=3481#comment-17891 Your boss is really awesome. He must've spend a couple hundred bucks on each employee on top of all the usual salary and benefits. Your boss is really awesome. He must’ve spend a couple hundred bucks on each employee on top of all the usual salary and benefits.

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