Comments on: making money with a credit card

By: elilani

elilani — Tue, 15 Dec 2009 22:22:19 +0000

its very good

By: gecengece

gecengece — Sun, 08 Nov 2009 09:53:40 +0000

i know Credit cards are evil. i take it

By: gecengece

gecengece — Sun, 08 Nov 2009 09:52:48 +0000

credit cards are definitely the way to go.
Just don't let your spending get out of hand.

By: video klipler

video klipler — Tue, 29 Sep 2009 07:49:54 +0000

The point system exists to get people like you to play it and talk about it.

By: keşan

keşan — Thu, 04 Jun 2009 09:15:11 +0000

thanks for the info. i know Credit cards are evil. i take it

By: davis

davis — Sun, 24 May 2009 03:04:46 +0000

But keep in mind, we're ALREADY charged that extra 2.5% cause its been done so often…. so in today's market, even with cash, that 2.5% was already built in.

Lets not forget this, however — even if we pay ZERO in interest and get cash back, the credit cards still win. They sell our purchasing history and demographics to companies out there… they're not losing money. They're collecting very valuable consumer demographics that other companies simply could not ever with as much accuracy… (Granted, their not *making* money either… but the credit card company isn't getting hurt)

By: Steve @ bripblap

Steve @ bripblap — Fri, 22 May 2009 10:54:53 +0000

That's a valid point, Matthew, but the alternative is what – pay for online purchases with PayPal? And I'd argue that you're still paying that 2.5% markup whether or not you use a credit card. Merchants obviously aren't marking up credit card purchases differently than cash purchases, so even if everyone stopped using credit cards except a few people, the markup would remain built in.

By: Kare

Kare — Thu, 21 May 2009 11:29:04 +0000

Matthew,

Great insight…so totally true!!!

By: No Debt Plan

No Debt Plan — Wed, 20 May 2009 17:51:20 +0000

While theoretically true, in practice this proves to be false.

Let me explain.

Yes they do charge merchants 2.5-3% to accept the card. But there was a great discussion over on my blog (not trying to plug my site or anything, but you can see the info here http://www.nodebtplan.net/2009/03/08/reader-com...).

Plus you ignore the added benefit to businesses from accepting cards: higher number of transactions (more customers), and if the “surveys” are to be deemed true, then each transaction is larger on average than it would be otherwise. This would be good for the merchant.

Imagine if the companies dropped all of their fees and saved the businesses 2-3%. Do you think we would see a price drop? No, they would absorb the profit… just like us reward card members are happy to do.

By: No Debt Plan

No Debt Plan — Wed, 20 May 2009 17:44:39 +0000

This is an epic post... as you can tell by the comments.

Some can control their spending, others cannot. Debit, credit, cash, it doesn't matter.

Some say studies show you spend more with plastic. That's odd... I have a budget. How many of those people were living on a budget?

Being stupid is not an excuse for you to burn any company at the stake.

The soda company comparison is fantastic -- inspiring me to write something about it for tomorrow.