made their money.I don't know about Diner's but AE had no limit, and no interest,
but it had to be paid in full each month. I don't recall how they
AE made their money by charging the vendor a percentage of what was
charged.
Visa & Mastercard would love for people to pay the minimum each time so
that they could rake in the interest fees.
They don't get any such fees from me.
On 01-09-19 06:45, Joe Mackey <=-
spoke to Dale Shipp about Credit cards (was: Re: ER <=-
Visa & Mastercard would love for people to pay the minimum each time so
that they could rake in the interest fees.
And their interest is high as well.
So many people today look at credit cards as "free money" and spend, spend, spend, then make only the minimum or slightly higher payment
and wonder why they are always in debt.
I have one card, and use it sparingly, only to keep it alive, and
pay that off before the due date.
I have never understood people who use their debit/credit card for
minor purchases.
There was period in my life in the late '90s I was between jobs and
few prospects and had to depend on several credit cards (that I maxed
out) for everyday life (rent, food, utilities, but nothing extra).
Got in a deep hole that took a long time to get out of once things
turned around. Never want to go through that again).
That makes it easy to understand your attitude on credit cards. Sort of DS>the more recent parallel to those, such as my parents, who went through DS>the depression years.
Back then, it also came with a substantial annual fee.... that alone was enough to keep me from considering it, even if I had had the required
income level, which I didn't...
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