SOCIAL: credit card

E. Grace Gellerman egracia at well.com
Tue Mar 25 17:57:51 PDT 2008 

I use my credit card as a charge card and have the full balance 
deducted from my bank account every month.  I've also had an 
arrangement to have the minimum payment deducted every month so I'd 
never be late, and then had some discretion over how much of the rest 
to send in.

But I agree with everyone else- it is a very expensive way to finance 
your purchases.

I recently wanted to close a mileage credit card I have had for 10 
years- for the reasons everyone has mentioned.  Then I was advised 
that the credit history associated with that card would disappear if 
I did.  It also helped that the bank waived the fee for another year. 
But I feel a little trapped.

Also, it is possible to stem the tide of credit card offers in your 
mail box.  There are plenty of ways to put a lock on your credit 
record.  I can forward info if anyone is interested in that.

Good luck,
Grace


At 5:22 PM -0700 3/25/08, Isabelle Pawlik wrote:
>Palak, Congratulations for being offered an unsecured card - your 
>mailbox will be overflowing soon with offers once you get approved 
>for one. I remember how overwhelming the search was for me. Just 
>remember to stick to one or two cards you can manage to pay back as 
>Deep said :). It is tempting to spend more here.
>
>Agree - it really depends what features in a card you need, so shop 
>around. I also had really bad experience with mileage cards 
>(especially United is a pain!).
>
>So, two years ago I came across one card the Citi Premier Pass card 
>which is much more flexible in my eyes as you accumulate points in 
>the Citi Thank you Network. You can then choose which reward you 
>want  - statement credit, gift certificates for basically every 
>store you can think of or flights (you can purchase tickets on all 
>airlines as they work with expedia) or you can even come up with a 
>wish. I do fly a lot internationally and they offer great features 
>like a free companion ticket a year and you accumulate points for 
>the purchase price of your ticket (1 point/dollar) and the flight 
>miles flown (which you get in addition to the mileage program you 
>belong to). So you basically get double the miles. Purchases on 
>certain retailers give you 2x to 10x the points. I know I sound like 
>a salesperson, but I've had a really good experience with it so 
>far (it does have a monthly fee though - $75/year). Check out the 
>following link 
><https://www.thankyou.com/welcome.jspx>https://www.thankyou.com/welcome.jspx
>
>I understand there is a similar program called World Points that 
>Bank of America offers if you don't wanna go with Citibank
><https://wwwn.managerewardsonline.com/RMSapp/Ctl/link?eid=800B3F7A>https://wwwn.managerewardsonline.com/RMSapp/Ctl/link?eid=800B3F7A
>
>Hope this helps.
>Isabelle
>
>On 3/25/08, O'Brien, Chris 
><<mailto:COBrien at mercurynews.com>COBrien at mercurynews.com> wrote:
>
>We are switching from mileage cards to an REI card. For the reasons
>Randall noted below: Just too much of a pain to use the miles, too many
>restrictions. But we always can use more thermal underwear.
>
>Chris O'Brien
>San Jose Mercury News
>415-298-0207
>
>
>
>
>
>
>
>
>-----Original Message-----
>From: 
><mailto:social-bounces at lists.deeptrouble.com>social-bounces at lists.deeptrouble.com
>[mailto:<mailto:social-bounces at lists.deeptrouble.com>social-bounces at lists.deeptrouble.com] 
>On Behalf Of Randall Isaac
>Sent: Tuesday, March 25, 2008 4:18 PM
>To: Social Social
>Subject: Re: SOCIAL: credit card
>
>
>I agree with Deep, it depends on what you want.
>
>I shy away from mileage cards because it's getting damn near impossible
>to redeem the miles for tickets you can actually use.  Also, many of the
>airline cards charge $60 annual fees after the first year.
>
>My favorite reward card is the Amazon VISA.  No annual fee and you get a
>$30 Amazon credit just for getting the card, and get a $25 Amazon gift
>certificate for every $2500 you spend (i.e. a 1% return, 3% on Amazon
>purchases).  Since I buy a crapload of stuff on Amazon it's a good deal
>for me.
>
>Randall
>
>Amandeep Jawa wrote:
>>  Hi Palak -
>>
>>  I have a United card & it gives me miles on it which is nice.  I'm
>>  glad you are not a big fan of credit cards - they are very useful and
>>  very helpful - but many many people get carried away when they first
>>  get one & end up in real trouble (I did!) - so it is good to make sure
>
>>  you always pay them.
>>
>>  The basic rules are something like this:
>>      - If you think you will always pay them back, get whichever one
>>  has features you like (like miles) - but make sure you pay them back
>on time!
>>      - If you think you will mostly pay them back, but some times may
>>  slip, or could slip for months at a time - get ne with the lowest
>>  interest rate you can find & ignore special features
>>      - If you don't think you will pay it back on time very often at
>>  all, get a different type of loan!
>>
>>  Anybody else have good advice?
>>
>>  'deep
>>
>>
>>
>>
>>
>>  On Mar 25, 2008, at 11:26 AM, palak joshi wrote:
>>
>>>  Dear Social,
>>>
>>>  I am looking to get a unsecured credit card now that I can. I am not
>>>  a big fan of credit cards but i need to have atleast one. I was
>>>  thinking due to my ok score i can get a good one. Have been going
>>>  back and forth between rewards and miles and cash back and this and
>>>  that. I am feeling very small to venture out in this world of credit
>>>  cards all by myself so i am looking to get some advice from you
>>>  folks. I am very disciplined to paying back and stuff just dont know
>>>  which ones to get its a big cc world out there!
>>>
>>>  Do you have credit cards that you recommend and more importantly do
>>>  not recommend? if you want to send me direct emails at
>>>  <mailto:palak.joshi at gmail.com>palak.joshi at gmail.com it would be 
>>>fine or to the group, whatever you
>>>  feel comfortable doing.
>>>
>>>  thanks and have a good day.
>>>  palak.
>>>  _______________________________________________
>>>  Social mailing list
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>>> 
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>>
>>
>>
>>  ----------------------------------
>>  Amandeep Jawa
>>  ----------------------------------
>>  deep AT deeptrouble DOT com
>>  937 Valencia St.
>>  San Francisco, CA 94110-2320
>>
>>  Home: 415 255 6257 (ALL MALP)
>>
>>  personal: <http://www.deeptrouble.com>http://www.deeptrouble.com
>>  political: <http://www.sflcv.org>http://www.sflcv.org
>>
>>
>>
>>
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