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  1. #27
    Join Date
    Nov 2007
    Location
    I am unsure myself
    Posts
    1,116
    I don't know why anyone would want to go without a credit card personally. How do you rent a car a hotel and various other things. Pay it off every month and its free. I pay 50 bucks a year for mine but my reward points offset that bigtime. As for the retailers who build their prices up 3 percent to cover the cost I have never had a 3 percent discount for paying cash. Just makes life easier as long as you don't carry a balance I don't care what my interest rate is it could be 70 percent because as long as it is paid every month the interest is 0. Alot of posts say if you can't pay cash don't buy it. I say thats true. However pay with your card get your rewards go home and pay it off online. Seems simple to me

  2. #28
    Join Date
    Jun 2009
    Location
    Trenton, NJ
    Posts
    66
    Quote Originally Posted by Dowadudda View Post
    And I say that taking you at word for the federal law. I am not sure what the federal law does in fact provide for.
    http://www.fdic.gov/regulations/laws...6500-1350.html

    909 more specifically. The consumer is provided very strong protection, that's why CC companies are very very liberal with issuing quick refunds for anything a consumer reports as fraudulent. They do this not because they are nice, but because it's the law, and the burden of proof is on them.

    Most other types of accounts, such as a regular bank accounts, or a brokerage accounts, are not protected. If money goes missing from there, and the bank doesn't feel nice enough to refund it, it will have to go to court. The US banking system is a huge quagmire. We still toss around these papers called checks with a few numbers on them, with no protection whatsoever against someone just printing a check with someone else's account #. It's that easy to make someone's balance go down.

  3. #29
    Join Date
    Jun 2001
    Location
    Michigan
    Posts
    12,077
    I wonder if I take this info you have provided, and post it on the Dave Ramsey chat board and see if I could get his interest and see if he might respond. This is interesting. And I thank you for the leg work.
    People who think they know everything are a great annoyance to those of us who do.

  4. #30
    Join Date
    Jun 2009
    Location
    Trenton, NJ
    Posts
    66
    Give it a try. Though the issue is very sensitive for banks and the like. Their whole system is very insecure by design, and they lobby hard not to get any laws passed similar to CC protection. Money does get stolen, and sometime it is not recovered, so it will have to come out of the pocket of the bank. This doesn't happen often, but it does happen, and could be catastrophic, like a serious illness. At that point the banks do the health insurance thing: they decide which is cheaper, to pay off the customer, or battle it out in courts. It's only business.

  5. #31
    Join Date
    Sep 2004
    Location
    Fort Worth, Texas
    Posts
    586
    Quote Originally Posted by Swampfox View Post
    Use a Debit Card

    I kicked the CC companies to the curb also, they are evil

    Now if they would just stop calling lol
    I would stay away from the debit cards for online purchases. You cannot do a chargeback on a debit card like you can a credit card.
    Installs, Changeouts, & Heat Stroke.....not necessarily in that order

  6. #32
    Join Date
    Dec 2002
    Location
    Rochester, MN
    Posts
    5,304
    I haven't had a CC for over 10 years and don't miss it.. As one post said, "if you don't got the money, you don't need it."

    That's the way I see it as well.

    I had no issues with getting a hotel or tickets with my bank card.

  7. #33
    Join Date
    May 2008
    Location
    Jax Fl.
    Posts
    1,943
    I went for the first 10 years after getting married without a credit card. I then started taking my Wife and Kids snowskiing and I would have to shell out $250 x 5 in deposits on ski rentals. When I took the skis back they would tell me "We'll have to send you a refund check in a couple of weeks". We also ran into the same thing with Hotels and Rental cars.
    Now we just charge it on our free CC and pay it off each month. I have also accumulted enough points for a trip to Hawaii if I chose to use them.

  8. #34
    Join Date
    Sep 2009
    Location
    Covington, KY
    Posts
    159
    Why not get another credit card with a different company, a rewards card is great. You get rewards for using the card. I use ours a lot but pay it off every month.

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