Gunna start up a bank.

[otherwise]

Just received my monthly credit card statement. I always pay it to $0 each mth and therefore pay no interest but have the convenience of cash without actually carrying much of it about.

This mth I noticed this new part printed on the front page.




Man oh man, I’m blown away, this mth I spent $3,541.42, therefore on the minimum payment without ever using it again it will take 14 years to pay off and cost an extra $4,353.
I just checked and my card (Citybank) is charging 19.74% on purchases and 20.49% on cash advances, no wonder they are always asking “Would you like any cash out with that purchase?â€.

I’ve got this great idea, how about chopping all credit cards up if you don’t pay them to $0 each mth.

 

[DaveM]

Great idea I don't have a normal credit card but just a Garage card for my car. This is also paid up in full each month.

 

[Rocky]

We use our MasterCard in the same way and pay it to zero each month.
We always get a laugh out of the same notice about the years it would take to pay it off with only a minimum monthly payment.
I'm certain there are thousands of people who pay only the minimum payment and probably will not live long enough to pay off the debt - especially if they continue to live (exist) in that manner.
There is a lot of concern in this country (and many other countries) over the debt being carried by citizens. I hope it all doesn't blow up in our faces one day.

 

[hemibee]

Think about the folks that have 4 or 10 of those stupid things and each is run up to the max and all they make is the minimum payment. How do they survive? Oh yeah, get a new card and fill it up too.

 

[CarlS]

I pay mine to zero each month, too. If I have made a big purchase (rarely), it might take me two months to pay it to zero.

 

[Gromit]

I have credit cards but don't use them - they're for dire emergencies only or for overseas travel. When I have used my credit card, my bank calls me on the mobile within seconds of the transaction going through asking where I am, what I'm purchasing and to identify myself - that's how rarely I use them. My bank thinks my cards have been stolen or something.

I use my cash debit card - if I can't pay cash, I can't afford it.

 

[CarlS]

I use my debit card too - locally. I use a credit card to purchase on line. I don't want my debit card compromised by purchasing on line with it.

 

[shanered6]

i dont have one or a cheque book im cash all the way , i do use a debit card for fuel now and again but rearly .
i use cash always ! when i bought my multistrada (ducati) new i walked in the dealers and slapped £7500 in cash on the table, the dealer looked at me stupid and said i cant take that !!! i cant have that on the premises !!! i had to go to the bank put money in and then go back with a bankers draft. i mean what the hell !!!!!!!!!!!!!!!!!!!!!!

 

[otherwise]

i dont have one or a cheque book im cash all the way , i do use a debit card for fuel now and again but rearly .
i use cash always ! when i bought my multistrada (ducati) new i walked in the dealers and slapped £7500 in cash on the table, the dealer looked at me stupid and said i cant take that !!! i cant have that on the premises !!! i had to go to the bank put money in and then go back with a bankers draft. i mean what the hell !!!!!!!!!!!!!!!!!!!!!!

That blew me away. When I sold a car about 3 mths ago I insisted on folding. The next mth my mastercard didn't get much use, neither did my kids cards.
A friend's parents sold a house and they were paid partly with a bank cheque and $200,000 in cash, that created a problem for them as the sale contract was for $200,000 less than the sale amount. A clear case of people washing money.

 

[DaveM]

Here you carry as little cash around with you as you possible can. Normally I won't have more than

200.00 ZAR = 23.0312 AUD
200.00 ZAR = 24.0321 USD
200.00 ZAR = 15.1508 GBP

At any one time. This cause the bank charges to be pushed up as you are always withdrawing small amounts all the time

 

[otherwise]

Here you carry as little cash around with you as you possible can. Normally I won't have more than

200.00 ZAR = 23.0312 AUD
200.00 ZAR = 24.0321 USD
200.00 ZAR = 15.1508 GBP

At any one time. This cause the bank charges to be pushed up as you are always withdrawing small amounts all the time

Different world for us, I had no idea how much I had in my wallet so just checked, $610 and $4.35 change in my pocket. To be honest I'd say I usually only carry about $200 but that will last me weeks because I use my card for almost all purchases. I don't know anyone who has ever been robbed in the street and only one friend who had his house burgled about 20 years ago.

 

[DaveM]

Yes we sure do live in a different world. I mostly use my debit card for all purchases and the cash would be for cool drinks, coffee and snack during the day. When you actually go to the ATM you always need to have one eye on the ATM and the other on your surroundings. I only use ATM that are secure in a shopping complex

 

[shanered6]

Different world for us, I had no idea how much I had in my wallet so just checked, $610 and $4.35 change in my pocket. To be honest I'd say I usually only carry about $200 but that will last me weeks because I use my card for almost all purchases. I don't know anyone who has ever been robbed in the street and only one friend who had his house burgled about 20 years ago.

its very similar here in the highlands of scotland ! what crime there is is mainly in the cities or big towns , i mean i never lock my house doors when i go out ...ever !!!
plus the last time some one held a knife to me ....they ended up with it in a place where the sun dont shine
thats what happens when you try and part a welshman from his HARD EARNED CASH !

 

[DaveM]

Lol good one Shane

 

[Rbeans]

I use my credit card for darn near everything, I ALWAYS pay it to zero every month though, I just like to use it for the travel reward points. I never carry cash with me, pretty much always use credit or debit. I have one friend who is just awful with her money and should never be allowed to have a credit card.....she will use her student loan money for vacations then put her tuition on her credit card and pay the minimum on it every month.....absolutely stupid.

 

[hemibee]

What is cash? How do you carry this thing called cash? I remember back when I was single having some papers I carried around in a wallet that I seem to remember giving to store clerks for items but can't remember what we called it.

 

[shanered6]

What is cash? How do you carry this thing called cash? I remember back when I was single having some papers I carried around in a wallet that I seem to remember giving to store clerks for items but can't remember what we called it.

cash is that stuff you take out of a slot ! not that thing you push into a slot !!

 

[keystiger]

What is cash? How do you carry this thing called cash? I remember back when I was single having some papers I carried around in a wallet that I seem to remember giving to store clerks for items but can't remember what we called it.

Yes....cash..... "THEY" are trying to do away with that. "THEY" don't like "US" having cash....debit card for everything so "THEY" can track your spending and make sure you aren't doing anything that isn't taxed at least six times......oh Lord Hemi don't get me started on this vein.. WIthin the next 20-30 years or so I predict, in the U.S. "cash" will be a thing of history. THank goodness the old "barter" system is making a come back. Had some work done on my car not long ago. Traded the labor for some t-shirts and business cards for the shop owner. (At a substantial savings to myself I might ad) no $ changed hands. Amazing how "THEY" don't grasp every time "THEY" come up with a new "control" tactic people just find a new way around it. There is a whole underground movement of barter going on. Actually its coming to the surface Discover channel (I think) has a show called "Barter Kings"

 

[shanered6]

Yes....cash..... "THEY" are trying to do away with that. "THEY" don't like "US" having cash....debit card for everything so "THEY" can track your spending and make sure you aren't doing anything that isn't taxed at least six times......oh Lord Hemi don't get me started on this vein.. WIthin the next 20-30 years or so I predict, in the U.S. "cash" will be a thing of history. THank goodness the old "barter" system is making a come back. Had some work done on my car not long ago. Traded the labor for some t-shirts and business cards for the shop owner. (At a substantial savings to myself I might ad) no $ changed hands. Amazing how "THEY" don't grasp every time "THEY" come up with a new "control" tactic people just find a new way around it. There is a whole underground movement of barter going on. Actually its coming to the surface Discover channel (I think) has a show called "Barter Kings"

been doing it all my life mate !!! the tiger i have now started off as a £600 rangerover 7 swaps later i have what i want not a penny spent ! the tiger is worth about £1850 not a bad turn over for 18 months

 

[keystiger]

Good on ya Shane! Yes I have always dabbled in the "horse trading" just seems more and more folks are joining in.