Yea, I have about 12 credit cards. Only use about 5 of them. Some pay more on the rewards at certain times of the year. Thats when I use them. I use prob. the AMEX Blue Cash and AMEX Simply Cash the most. I had a cash rebate paid to me around 16k. Everything, and I mean everything I can is placed on a rewards card. It is like using someone else's money and getting paid for it. Of course, I paid all bills off at the end of the month. You make no money (or reward) by keeping a balance. I think that is what a lot of the average ppl who get these cash back cards attempt to do, but are unable to. Therefore, they get the reward, while paying the crazy interest rates. I actually just looked at some of the interest rates these crooks, I mean bank charge, and they are really high. I am from the old school. If you cannot afford to pay for it in cash at the end of the month, then you do not buy it. It is a simple as that. I even put my Jeep on my AMEX card. Got 1.5% back on the purchase. If you know how to play the game, it can be very rewarding. If you do not, it can hurt you bad... financially speaking...
That is the goal of the New World Order, so we are debt-ridden, so we own NOTHINK, so we are the slaves of the system, the cash (green) will be eliminated, and the ultimate goal is microchip implant. There will be all our info on it including bank accounts and tracking device. This way our freedom or what left of it will be taken away and if you wan to protest, they will turn of your chip so you canât buy or sell anything, this way the NWO will have total control over you. http://video.google.com/videoplay?docid=-199777442469383784
Completely agree. Pay all bills ( phone, insurance, doctor, etc.) on my cc online. Don't have to write out checks anymore. Round my cc payment up to the next 100.00 to make a nice round number and easier to balance my bank statement. And get paid a nice cash back bonus every month to do it. Just remember, it's a tool that you can use to your benefit or financial destruction.
A trend is forming. http://www.bloomberg.com/apps/news?pid=20601087&sid=aVaUKS9bOLVg&refer=home American Express Profit Drops 9.9% as Card Defaults Increase; Shares Fall American Express Profit Falls 9.9% on Loss Charge (Update2) By Hugh Son Jan. 28 (Bloomberg) -- American Express Co., the third- largest U.S. credit-card network, said fourth-quarter profit fell 9.9 percent as it set aside more for customer defaults amid a slowing economy. The company declined in extended trading. Net income was $831 million, or 71 cents a share, compared with $922 million, or 75 cents, a year earlier, the New York- based company said today in a statement. Profit matched the average estimate of 15 analysts surveyed by Bloomberg. The report adds to evidence that bad debts are spreading in the U.S. from borrowers in the housing market to customers who owe money on credit cards and auto loans. Citigroup Inc., the biggest U.S. bank by assets, and Capital One Financial Corp. each doubled reserves for loan losses in the fourth quarter. ``Even the high-end consumer that uses American Express has been impacted by the housing issues this country has,'' Michael Taiano, analyst at Sandler O'Neill & Partners, said in an interview before results were released. ``Spending pulled back abruptly in December, which is unusual since it's the holiday season peak.'' Taiano has a ``buy'' rating on the firm. American Express fell $1.33, or 2.8 percent, to $46.07 in trading after the close of regular U.S. markets. Before the results were announced, the company rose $1.96, or 4.3 percent, to $47.40 in New York Stock Exchange composite trading today. The company has declined 18 percent in the past year. ``We are not immune from further deterioration in the economic and credit environment,'' Chief Executive Officer Kenneth Chenault said in the statement. Credit Reserves The firm took a $274 million after-tax charge in the quarter to boost reserves for credit-card losses in the U.S. Purchases rose 16 percent from a year earlier to $177.5 billion and loans to cardholders rose 22 percent to $77.2 billion. Goldman Sachs Group Inc. and Merrill Lynch & Co. analysts cut their recommendations on American Express in the past two months on concern slower consumer spending will limit loans made by credit-card companies. U.S. retailers' holiday sales gained 2.2 percent, the slowest pace in five years, according to the International Council of Shopping Centers. The U.S. jobless rate jumped to a two-year high of 5 percent in December. American Express will lower marketing expenses to below 2007 levels because of its forecast for slower growth in transactions, the company said this month. ``Credit-card performance will noticeably deteriorate during the year, given spillover from residential mortgages, weaker economic trends, and higher levels of unemployment,'' Fitch Ratings said in a Jan. 10 report on the U.S. industry. Discover, MasterCard Discover Financial Services, the No. 4 network, has fallen about 44 percent since trading formally began in July after being spun off from Morgan Stanley. MasterCard Inc., which runs the second-biggest U.S. card network after Visa Inc., has surged 74 percent in the past year. Discover and American Express are lenders that offer cards and run networks that process transactions for other issuers. MasterCard, reporting fourth-quarter results on Jan. 31, and Visa, planning an initial public offering this year, run only networks. American Express cardholders spent an average $3,228 in the quarter, 8 percent more than a year earlier. The company added 11 percent more cardholders to 86.4 million. Discount revenue, the fees collected from merchants when cardholders buy goods or services, climbed 13 percent to $3.91 billion. Visa Settlement American Express's earnings included a $1.13 billion payment from a $2.25 billion settlement on Nov. 7 with Visa Inc. American Express filed the lawsuit in November 2004, accusing the company of barring member banks from offering rival cards. Revenue from the suit was largely offset by higher expenses from litigation, charitable contributions and its rewards program. Warren Buffett's Berkshire Hathaway Inc. is the largest American Express investor, owning 151.6 million shares, or 13 percent of outstanding stock as of Sept. 30, according to Bloomberg data.
I received an unsolicited Credit card app. They wanted to charge 119 for "up front Fees" an additional 50 annual fee and another six bucks for participation fee on top of 22% interest. Just for kicks, down time today, I called their office. I asked them how much they would lend me for all those fees. The stated they would lend me 300, which would have to subtract all those up front cost. I started laughing at the lady and asked "when the fuck did the mob go into "Lending" legally?" She was silent. I asked her "how many people take this insane offer", she stated more than 70 percent of her calls are ok with the terms. FUCKING INSANE.....:eek: I told her to take me off her solicitation list.
Exactly, all the sheeple care about is the CREDIT LIMIT...TO HELL WITH THE INTEREST RATES AND SERVICE CHARGES!!! LOLOL HELL, THEY'LL JUST FILE BANKRUPTCY AND MAKE IT ALL GO AWAY ANYHOW. I imagine 70% sounds about right. Fits the bell curve pretty well. ha ha ha
Only idiots would blame the credit card! BLAME THE FUCKING ASS CLOWNS THAT LIVE IN THIS COUNTRY, the retards, the fucking inbred american, the "I gota be like Mike" idiots, the "THATS HOW I ROLL" morons. Blame the Consumer for fucking up their own credit. Don't punish those who are responsible bill payers, who pay their "Credit Cards" on time, the ones who are smart enough not to get over their head in debt. This country has gone to shit with all you fucking idiots who want "this and that" taken away because the majority of our Citizens are not worth the Shit that comes out of my dogs ass. Fucking Communist Idiots on this site. Go read some AYN RAND, READ THE CONSTITUTION, LEARN A LITTLE ON LAISSEZ-FAIR, AND KEEP THE MAJORITY FROM CONTROLLING THE MINORITY! To many of you idiots worship "SOROS" and Socialism.
"cant file bankruptcy that easy anymore " bruva. Congress changed those rules a few years ago, they saw the storm coming. that is why there is all this "Bullshit" bailout going on. They have to re-finance the sheeople, because bankrupt options are off the table for the most part.