Thread: Don't Spend, Save!!

Originally Posted by Judy

Butterbean--what bank? Did it originate at a Wachovia?

I'm not sure if it was Wachovia or not. I do have one there though, and its a Visa. Sears and Discover cards are the same, so they wouldnt consider changing their rates. And watch out for those 2, because they will turn your butt in and disgrace you if you make a payment 1 day late, even though your credit history is impecible! They are known for wrecking peoples credit histories.
Judy - to answer your question- by my own experience, most banks would rather lower your rate than to lose your business.

jp-- I know that I make a mountain out of a molehill over every possible contingent harm that can be done to us as a result of these trade agreements that take thousands of American jobs every year. I just get so frustrated that our government doesn't seem to know or care what kind of harm they are doing. If the FTAA passes, I think I will have a stroke! I was so mad when CAFTA passed that I seriously considered taking the blood pressure pills I've refused to start on for five years now. LOL And Lord knows, it would infuriate me to no end to be forced to support the crooked drug companies to save my own life.

Butterbean, I agree on the banks preferring to lower the rate than lose the business. This just happened with me when I paid mine off. Everyone needs to contact their bank and start negotiating some decent terms and respect.

Because with your credit card business, many of their bottom-lines would be greatly impaired.

I had always had a Wachovia Master Card but, it wasn't until a friend told me about one that she had that gave her frequent flyer miles that I called Wachovia and started threatening to drop my MasterCard if they didn't give me a plan that offered the miles. They were very accomodating but I had to get tough with them at first because they were going to charge me a yearly fee on the new one and I have never paid a yearly fee because that was one of the perks with the type of account I had. SO, when I told them that I would NOT pay a fee and that there were plenty of other credit cards out there that would meet BOTH of my needs, they dropped the fee. SO, you CAN negotiate with them!! Although, like I said, I wouldn't be what they considered a "valuable customer" because they DON'T get any interest or fees out of me.

But, I do know my son and his wife have done what you suggested about making demands and shopping around for better rates and they DON'T pay theirs off when it comes so they ARE paying interest and it DOES make a difference for them.

I keep thinking about changing my card. I would keep the same bank, just a different type of rewards. See, ours lets us collect up money and if we buy a FORD we can get a discount. We did that once--in 1997--and I've had that card since 1979 or so and it was quite a savings--about 700 bucks. Then they started taking the money away if you didn't use it and we don't buy Fords anymore so it doesn't do us any good. I'd like the cash back rewards, I think.

And Bank of America now has a deal where ifyou use your debit card they round every purchase up to the next dollar and put the difference in your savings account. For three months, they are going to MATCH the amount they put in but after that they will only give you 5%. But still, 5% on a few bucks a month is a lot more money than they pay in interest on the entire savings account so naturally, I use my debit card more than I did before. I don't carry cash so it isn't that hard to use it.

Like you, Junius, I don't carry cash either. AND, I don't carry a checking account checkbook. I like to use the large, desk type checkbooks that have 3 checks per page so I can't very well carry THAT in my pocketbook! I do carry my Money Market account checkbook JUST IN CASE of an emergency where someone wouldn't accept a credit or debit card.

That's a great idea about what Bank of America is doing. I also like to use a card with SOME SORT of rewards. MBNA WANTS you to use your points on some sort of products they have like VACUUM CLEANERS or stuff like that. I guess they figure that most people won't save the points up long enough to get the frequent flyer points but I am PATIENT about that and I don't fall for their schemes to try to get me to use them for something else.

Sprint used to have a point system as well and I used Sprint for my long distance for YEARS until they discontinued the travel miles part of it. That was the one that I used for 3 trips to Europe. The MBNA was the one I used for the last two and I paid for the first trip because it was one of those really cheap flights to London if I remember correctly. So, it has been WELL WORTH it to have those cards because I've been able to do things that would have been prohibitive otherwise.

The Bank of America rules stipulate that you can't get more than $250 a year but, hey! It's $250 more than I'd have had otherwise, right? Of course, at ten bucks a month I may never accumulate $250 a year anyway but the potential is there. Works for me!

Well, you just need to start using it for EVERYTHING. You would be SURPRISED to see how much money you actually spend! I get a rude reality check every time that MasterCard bill comes!

Actually, I do use it for everything. But I don't spend any more money than I absolutely have to. My few dollars comes from gas and groceries, mainly. Now I wish they had started this thing sooner. I could have bagged that $250 limit last summer alone! I also tend to spend more money on "things" in NC than in TX. First, because I am more interested in ND's economy than TX and second because if I buy "things" in TX I am only going to have to cart them to NC in the next couple years anyway.

I might be getting old but I still think rationally, don't I? YIKES! Do I??? LOL

OF COURSE, you think RATIONALLY, Junius! Well, UNLESS I DON'T think RATIONALLY EITHER!! Better stop at that!