Thrift/Pass Out Now/Credit

[Foofoogal]

Alot of the credit cards are also tying credit rating or standing to getting insurance like car and stuff.
It is really very necessary to have at least one credit card as it does affect your credit score if not.
Some businesses, like hotels and rental cars, require a CC number for the purposes of holding a reservation also.
I am not kidding on this but when our son got married fairly young he went on a honeymoon night not real close but sort of close. The hotel and it was a nice one would not accept his cash without a credit card. Honey had to drive to where they were and pay with his and show them his in person. Took at least 4 hours for this fiasco.
He was in college and we would not let him get one. :eusa_doh:
Mad was not the word on everyone. They did give him something extra at the hotel like bottle of wine or something for the trouble. :eusa_doh:

 

[ShoreRoadLady]

Alot of the credit cards are also tying credit rating or standing to getting insurance like car and stuff.
It is really very necessary to have at least one credit card as it does affect your credit score if not.
Some businesses, like hotels and rental cars, require a CC number for the purposes of holding a reservation also.
I am not kidding on this but when our son got married fairly young he went on a honeymoon night not real close but sort of close. The hotel and it was a nice one would not accept his cash without a credit card. Honey had to drive to where they were and pay with his and show them his in person. Took at least 4 hours for this fiasco.
He was in college and we would not let him get one. :eusa_doh:
Mad was not the word on everyone. They did give him something extra at the hotel like bottle of wine or something for the trouble. :eusa_doh:

Turning down cold, hard cash because they wanted a credit card?! Nutty.

I don't even have a credit card at this point, so I really hate the way CC's are tied into everything. Hopefully credit ratings will become a thing of the past. I probably have an atrocious credit score, simply because I don't *have* any credit, but that doesn't mean I'm not responsible.

 

[Foofoogal]

I believe it is standard to keep a credit card on hand for a hotel in case you trash the room or steal something I guess. [huh]

 

[Carlisle Blues]

I believe it is standard to keep a credit card on hand for a hotel in case you trash the room or steal something I guess. [huh]

It is also used to verify identity......

 

[Paisley]

Vigilance required

I don't think you can rent a hotel room or rent a car without a credit card. And I don't see how you can make internet purchases without one. There are also different laws that apply to credit cards vs. debit cards. As I understand it, if your credit card is stolen, you are responsible for only the first $50 of the unauthorized purchases. Debit cards--you're responsible for the whole bill.

One more unpleasant thing about credit cards is that the issuer will sometimes freeze the card if they think there is suspicious activity, like transactions outside your home town (e.g., renting a hotel room). Oh, and they can quietly raise the rate. And I've had them say they never received my payment (for $3,000; it was eventually corrected). Recently, my credit card company forgot to send my bill, then charged me a late fee (also subsequently resolved).

 

[Carlisle Blues]

I don't think you can rent a hotel room or rent a car without a credit card. And I don't see how you can make internet purchases without one. There are also different laws that apply to credit cards vs. debit cards. As I understand it, if your credit card is stolen, you are responsible for only the first $50 of the unauthorized purchases. Debit cards--you're responsible for the whole bill.

One more unpleasant thing about credit cards is that the issuer will sometimes freeze the card if they think there is suspicious activity, like transactions outside your home town (e.g., renting a hotel room). Oh, and they can quietly raise the rate. And I've had them say they never received my payment (for $3,000; it was eventually corrected). Recently, my credit card company forgot to send my bill, then charged me a late fee (also subsequently resolved).

They will indeed stop your card if there is suspicious activity like the aforementioned. However, if you let them know you will be using thecard for travel etc etc there should be no problem.

 

[Miss Neecerie]

And the freeze for suspicious activity can and does happen with Debit cards as well.

Since most of them now are MasterCard or Visa logo debit cards.

It happened to me when I move to the UK for university and did not realise that buying a 1000 dollars worth of laptop would freeze my entire bank account.

It got sorted out, but took a very long call to the bank...who promptly said 'Why didn't you mention you were moving!'


:eusa_doh:


But the fact that debit cards are now branded as Mastercard/Visa has the plus side of you being able to use them for online purchasing and for hotel and or car rental purposes.

 

[Carlisle Blues]

Oh and don't forget the 3% surcharge on every overseas transaction ....boink...

 

[Foofoogal]

In Puerto Rico we had a time using our debit card till I got ahold of our bank and told them we were out of the country. I appreciate their diligence but thank God for Walmart. Most anywhere and you can buy a pack of gum and get cash back.

 

[Paisley]

Puerto Rico is part of the United States. Regardless, I think I'd rather use travelers' checks than check in with my credit card company if I were traveling.

 

[Carlisle Blues]

Puerto Rico is part of the United States. Regardless, I think I'd rather use travelers' checks than check in with my credit card company if I were traveling.

Paisley depends on where I go but I do both ......just in case

 

[KittyT]

Turning down cold, hard cash because they wanted a credit card?! Nutty.

Hotels want a credit card for incidental expenses or so they can charge you if you trash the room. However, most hotels will accept a Visa or Mastercard debit card. Car rental companies, on the other hand... don't even get me started.

I probably have an atrocious credit score, simply because I don't *have* any credit, but that doesn't mean I'm not responsible.

I don't see credit ratings going away any time soon. You can ask your bank for a very low limit credit card and make just a few charges on it a month. This is one of the best ways to build up your credit. Another option can be a prepaid credit card.

 

[ladybrettashley]

I don't understand this at all. The only thing I use my credit card for is to pay medical bills -- the sure sign, I'd think, of someone in dire and desperate straits -- and I have an interest rate of 4 per cent.

Absolutely. As far as i'm concerned that is what credit cards are for - emergencies. Though i've been known to use mine for stupid little things - primarily while i was trying to build myself a credit score. It was: charge $10 and pay it off online the same day. That way there's no interest to pay, no payment to forget about, and you still get the "i know how to pay a bill" mark on your credit report.

I recently was charged a fee on my savings for "over activity".
The activity in question was moving my money from my savings to my checking.

Hah, and i was charged a fee for moving "too much" of my money into my savings from my checking. Yep - it's a good deal ain't it?

 

[KittyT]

Hah, and i was charged a fee for moving "too much" of my money into my savings from my checking. Yep - it's a good deal ain't it?

My mom has a limit on how many times a month she can move funds in and out of her savings. It's totally ridiculous. It's MY money! Don't tell me what I can and can't do with it!

 

[ShoreRoadLady]

I don't see credit ratings going away any time soon. You can ask your bank for a very low limit credit card and make just a few charges on it a month. This is one of the best ways to build up your credit. Another option can be a prepaid credit card.

Oh, yes. And I've been meaning to get one for just that reason - I just keep putting it off. However, I'm still going to grumble about it. lol

 

[Foofoogal]

http://www.bankrate.com/credit-cards.aspx

with a grain of salt this is a pretty good place to get info. Though the rule to remember is the borrower is always subject to the lender. Not a good place to be unless you are the lender.

http://www.ftc.gov/freereports

Everyone should keep an eye on their reports. I have found countless errors and stay on them like a bulldog till they get it right. (honest to the Lord it is totally dependent on who you get on the phone that day and if they have a clue, just keep calling till you find someone that does)
One time a person with my same name had a wreck and I had to prove I wasn't this person. 32 people with my same name in the hospitals system network and she and I were the only 2 that had a business. They even said they could not find this person and I got online and found all the info for them. We were trying to buy a home at the time but it turned out for the good as it took me 6 mo. to straighten out this fiasco and by that time rate had dropped tremendously. The universe would not of been happy had it gone the other way. Now they watch my credit for any unusual activity. You can do that and can request it. You would not believe how many phone calls I made and faxes etc. I called everyone but the President of the USA including local representatives etc.
:eusa_doh: