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Tuesday, December 11, 2007

My Credit Cards

This blog has been exceptionally quiet (it never really is all that happening over here anyway) this week. Not only did I send my laptop in for repair (under warranty still), but I was out of town from Wednesday night until late Sunday night (I got to bed at 1:30 am). Perhaps more to come on that "vacation" later. I actually have a lot of potential topics stored up in my mind. For now, I want to talk about my credit cards.

At work, we are all chipping in for a going away present for my manager. My coworker is collecting five dollars from us all, and complained that none of the "young people" had cash. I asked her if she could just accept credit, but no such luck. Not even Visa.

One of my two primary credit cards is a Chase Freedom Visa card. One reason I chose this card was because it was a "Visa Signature" card, and any electronics I buy automatically have a doubled warranty. Sweet. Another cool perk is that any rental car I rent with it will automatically get CDW coverage, which will come in handy when I rent a car over New Years. The cash back bonus is alright, but I really don't spend that much for it to be exciting.

What has annoyed me about this card is the constant mailings encouraging me to sign up for costly services. More than once a month I get an envelope from them to sign up for some "Credit Protection Plan". In case I ever fall on hard times, this service will allow me to suspend payments for some period of time. Or something like that. Every time I call them for any reason, they push this service. It costs something like $0.89 per a $100 balance, so it isn't much, but still. They also said if you don't "carry a balance" it is free. After questioning this further, I learned that it wasn't exactly true. You can't just pay your balance every time you get a statement, you have to pay your balance BEFORE the statement is calculated for it to be free. Anyway, it is annoying. I don't want it. I don't need it. I have an emergency fund of almost 10k (yay, go me!) and know how to manage my money. Yesterday I opened some "check" that I deposit, which will enroll me in some $90/year service. I'm not sure what the service is, only that I don't need it.

My other card is a Discover Open Road card. Discover seems to have has a bad reputation, but I think they are great. The cash back program is solid (and you can pick what one best suites your life). They also let you choose your credit card design from a HUGE selection. Not that it is REALLY important, but where else will give me a flamingo pink credit card with an "S" monogrammed on it? Love it! Of course, you really can't get by with only a Discover card. While most places accept it, there are still a few who do not. Also, I opened a second Discover card once (to use a 0% balance transfer offer) and they made a huge headache about closing it. The first time I tried my call was simply "dropped" (I personally think they hung up on me because then the customer service rep gets to count it as a customer that was not lost), and the second time I had to argue for several minutes about why I wanted to just close it. Anyway, other than that, Discover has been very nice to me since I first got their card as a college student.

Credit cards have always been a helpful tool for me. I've never been late on a payment and never been charged a fee. I typically get a couple hundred dollars in cash back bonuses each year, and they are very convenient. Still, on principle, I think credit card companies stink. They charge outrageous rates and push to sell useless services.

1 comment:

shannon said...

you are one of the fortunate ones!! as a general rule, it's pretty well known that credit card companies are pretty much just out to get your money. most want you to make late payments or go over your balance, and just generally incur large amounts of fees. one of the problems i had with discover- which, knock on wood, you obviously haven't had- is that they would hold my payments and make them late. i know this because when i realized that my checks weren't getting there on time, i would send them fifteen, even eighteen days once before they were due, and- no dice. still late.

may we all have your luck with credit card companies!!

Tuesday, December 11, 2007

My Credit Cards

This blog has been exceptionally quiet (it never really is all that happening over here anyway) this week. Not only did I send my laptop in for repair (under warranty still), but I was out of town from Wednesday night until late Sunday night (I got to bed at 1:30 am). Perhaps more to come on that "vacation" later. I actually have a lot of potential topics stored up in my mind. For now, I want to talk about my credit cards.

At work, we are all chipping in for a going away present for my manager. My coworker is collecting five dollars from us all, and complained that none of the "young people" had cash. I asked her if she could just accept credit, but no such luck. Not even Visa.

One of my two primary credit cards is a Chase Freedom Visa card. One reason I chose this card was because it was a "Visa Signature" card, and any electronics I buy automatically have a doubled warranty. Sweet. Another cool perk is that any rental car I rent with it will automatically get CDW coverage, which will come in handy when I rent a car over New Years. The cash back bonus is alright, but I really don't spend that much for it to be exciting.

What has annoyed me about this card is the constant mailings encouraging me to sign up for costly services. More than once a month I get an envelope from them to sign up for some "Credit Protection Plan". In case I ever fall on hard times, this service will allow me to suspend payments for some period of time. Or something like that. Every time I call them for any reason, they push this service. It costs something like $0.89 per a $100 balance, so it isn't much, but still. They also said if you don't "carry a balance" it is free. After questioning this further, I learned that it wasn't exactly true. You can't just pay your balance every time you get a statement, you have to pay your balance BEFORE the statement is calculated for it to be free. Anyway, it is annoying. I don't want it. I don't need it. I have an emergency fund of almost 10k (yay, go me!) and know how to manage my money. Yesterday I opened some "check" that I deposit, which will enroll me in some $90/year service. I'm not sure what the service is, only that I don't need it.

My other card is a Discover Open Road card. Discover seems to have has a bad reputation, but I think they are great. The cash back program is solid (and you can pick what one best suites your life). They also let you choose your credit card design from a HUGE selection. Not that it is REALLY important, but where else will give me a flamingo pink credit card with an "S" monogrammed on it? Love it! Of course, you really can't get by with only a Discover card. While most places accept it, there are still a few who do not. Also, I opened a second Discover card once (to use a 0% balance transfer offer) and they made a huge headache about closing it. The first time I tried my call was simply "dropped" (I personally think they hung up on me because then the customer service rep gets to count it as a customer that was not lost), and the second time I had to argue for several minutes about why I wanted to just close it. Anyway, other than that, Discover has been very nice to me since I first got their card as a college student.

Credit cards have always been a helpful tool for me. I've never been late on a payment and never been charged a fee. I typically get a couple hundred dollars in cash back bonuses each year, and they are very convenient. Still, on principle, I think credit card companies stink. They charge outrageous rates and push to sell useless services.

1 comment:

shannon said...

you are one of the fortunate ones!! as a general rule, it's pretty well known that credit card companies are pretty much just out to get your money. most want you to make late payments or go over your balance, and just generally incur large amounts of fees. one of the problems i had with discover- which, knock on wood, you obviously haven't had- is that they would hold my payments and make them late. i know this because when i realized that my checks weren't getting there on time, i would send them fifteen, even eighteen days once before they were due, and- no dice. still late.

may we all have your luck with credit card companies!!

Tuesday, December 11, 2007

My Credit Cards

This blog has been exceptionally quiet (it never really is all that happening over here anyway) this week. Not only did I send my laptop in for repair (under warranty still), but I was out of town from Wednesday night until late Sunday night (I got to bed at 1:30 am). Perhaps more to come on that "vacation" later. I actually have a lot of potential topics stored up in my mind. For now, I want to talk about my credit cards.

At work, we are all chipping in for a going away present for my manager. My coworker is collecting five dollars from us all, and complained that none of the "young people" had cash. I asked her if she could just accept credit, but no such luck. Not even Visa.

One of my two primary credit cards is a Chase Freedom Visa card. One reason I chose this card was because it was a "Visa Signature" card, and any electronics I buy automatically have a doubled warranty. Sweet. Another cool perk is that any rental car I rent with it will automatically get CDW coverage, which will come in handy when I rent a car over New Years. The cash back bonus is alright, but I really don't spend that much for it to be exciting.

What has annoyed me about this card is the constant mailings encouraging me to sign up for costly services. More than once a month I get an envelope from them to sign up for some "Credit Protection Plan". In case I ever fall on hard times, this service will allow me to suspend payments for some period of time. Or something like that. Every time I call them for any reason, they push this service. It costs something like $0.89 per a $100 balance, so it isn't much, but still. They also said if you don't "carry a balance" it is free. After questioning this further, I learned that it wasn't exactly true. You can't just pay your balance every time you get a statement, you have to pay your balance BEFORE the statement is calculated for it to be free. Anyway, it is annoying. I don't want it. I don't need it. I have an emergency fund of almost 10k (yay, go me!) and know how to manage my money. Yesterday I opened some "check" that I deposit, which will enroll me in some $90/year service. I'm not sure what the service is, only that I don't need it.

My other card is a Discover Open Road card. Discover seems to have has a bad reputation, but I think they are great. The cash back program is solid (and you can pick what one best suites your life). They also let you choose your credit card design from a HUGE selection. Not that it is REALLY important, but where else will give me a flamingo pink credit card with an "S" monogrammed on it? Love it! Of course, you really can't get by with only a Discover card. While most places accept it, there are still a few who do not. Also, I opened a second Discover card once (to use a 0% balance transfer offer) and they made a huge headache about closing it. The first time I tried my call was simply "dropped" (I personally think they hung up on me because then the customer service rep gets to count it as a customer that was not lost), and the second time I had to argue for several minutes about why I wanted to just close it. Anyway, other than that, Discover has been very nice to me since I first got their card as a college student.

Credit cards have always been a helpful tool for me. I've never been late on a payment and never been charged a fee. I typically get a couple hundred dollars in cash back bonuses each year, and they are very convenient. Still, on principle, I think credit card companies stink. They charge outrageous rates and push to sell useless services.

1 comment:

shannon said...

you are one of the fortunate ones!! as a general rule, it's pretty well known that credit card companies are pretty much just out to get your money. most want you to make late payments or go over your balance, and just generally incur large amounts of fees. one of the problems i had with discover- which, knock on wood, you obviously haven't had- is that they would hold my payments and make them late. i know this because when i realized that my checks weren't getting there on time, i would send them fifteen, even eighteen days once before they were due, and- no dice. still late.

may we all have your luck with credit card companies!!

Tuesday, December 11, 2007

My Credit Cards

This blog has been exceptionally quiet (it never really is all that happening over here anyway) this week. Not only did I send my laptop in for repair (under warranty still), but I was out of town from Wednesday night until late Sunday night (I got to bed at 1:30 am). Perhaps more to come on that "vacation" later. I actually have a lot of potential topics stored up in my mind. For now, I want to talk about my credit cards.

At work, we are all chipping in for a going away present for my manager. My coworker is collecting five dollars from us all, and complained that none of the "young people" had cash. I asked her if she could just accept credit, but no such luck. Not even Visa.

One of my two primary credit cards is a Chase Freedom Visa card. One reason I chose this card was because it was a "Visa Signature" card, and any electronics I buy automatically have a doubled warranty. Sweet. Another cool perk is that any rental car I rent with it will automatically get CDW coverage, which will come in handy when I rent a car over New Years. The cash back bonus is alright, but I really don't spend that much for it to be exciting.

What has annoyed me about this card is the constant mailings encouraging me to sign up for costly services. More than once a month I get an envelope from them to sign up for some "Credit Protection Plan". In case I ever fall on hard times, this service will allow me to suspend payments for some period of time. Or something like that. Every time I call them for any reason, they push this service. It costs something like $0.89 per a $100 balance, so it isn't much, but still. They also said if you don't "carry a balance" it is free. After questioning this further, I learned that it wasn't exactly true. You can't just pay your balance every time you get a statement, you have to pay your balance BEFORE the statement is calculated for it to be free. Anyway, it is annoying. I don't want it. I don't need it. I have an emergency fund of almost 10k (yay, go me!) and know how to manage my money. Yesterday I opened some "check" that I deposit, which will enroll me in some $90/year service. I'm not sure what the service is, only that I don't need it.

My other card is a Discover Open Road card. Discover seems to have has a bad reputation, but I think they are great. The cash back program is solid (and you can pick what one best suites your life). They also let you choose your credit card design from a HUGE selection. Not that it is REALLY important, but where else will give me a flamingo pink credit card with an "S" monogrammed on it? Love it! Of course, you really can't get by with only a Discover card. While most places accept it, there are still a few who do not. Also, I opened a second Discover card once (to use a 0% balance transfer offer) and they made a huge headache about closing it. The first time I tried my call was simply "dropped" (I personally think they hung up on me because then the customer service rep gets to count it as a customer that was not lost), and the second time I had to argue for several minutes about why I wanted to just close it. Anyway, other than that, Discover has been very nice to me since I first got their card as a college student.

Credit cards have always been a helpful tool for me. I've never been late on a payment and never been charged a fee. I typically get a couple hundred dollars in cash back bonuses each year, and they are very convenient. Still, on principle, I think credit card companies stink. They charge outrageous rates and push to sell useless services.

1 comments:

shannon said...

you are one of the fortunate ones!! as a general rule, it's pretty well known that credit card companies are pretty much just out to get your money. most want you to make late payments or go over your balance, and just generally incur large amounts of fees. one of the problems i had with discover- which, knock on wood, you obviously haven't had- is that they would hold my payments and make them late. i know this because when i realized that my checks weren't getting there on time, i would send them fifteen, even eighteen days once before they were due, and- no dice. still late.

may we all have your luck with credit card companies!!