HSBS / Kawi Credit look out !

[Seadog1967]

Originally Posted by northernman

Cash is king.
No interest, no credit card numbers to get stolen and abused.
No BS.

And 99% of the time, you can wrangle a nice discount when you buy stuff cash.
I save a lot buy cash, as I can usually talk the seller into a nice discount on whatever i am buying.

Agree but on large purchases it can be tough. I don't think the avg. person has $8,000 - $18,000 just hanging around. Some people ya but the avg. person no. Buy a washer, dryer, Tv. etc. no problem. Car, Bike, boat big ticket items then there's a problem.

[Bubba68CS]

Originally Posted by Seadog1967

Agree but on large purchases it can be tough. I don't think the avg. person has $8,000 - $18,000 just hanging around. Some people ya but the avg. person no. Buy a washer, dryer, Tv. etc. no problem. Car, Bike, boat big ticket items then there's a problem.

Also a pain for small purchases...if you gas up twice a day (as I do), thats a lot of time and hassle to walk in and pay cash (rather than paying at the pump)...not to mention having to go get the cash from the bank on a daily basis.

If you pay off the card at the end of the month (and they don't charge annual fees), its a far better form of purchasing stuff for me. Built in fraud protection (you aren't getting your money back if someone mugs you or you drop cash)...the ability to actually buy things online (major hassle with cash)...and in some cases, you get paid for using the thing (bought $250 of armor for my jacket with the 'cash back' I 'earned'...of which I never paid a dime in interest).

Only thing cash is good for is hitting the vending machine or the 2 (or is it still 3?) places in the country that don't accept credit cards

Thats me, and thats based on how my card has worked in the past...if they start charging me bogus fees, I'll go back to a cash only kinda guy.

[northernman]

By the time I am low on gas, I need to get off the bike for 5 anyways so a 40 foot walk inside to pay cash is barely a leg stretch, and i can grab a cold bottle of water, and take a wizz at the same time.

All I know is that the amount I save buying stuff cash is all the incentive I need.
Also no need to worry the machine is out of order, or some other BS.

I actually no longer accept credit cards in my shop.

And its awesome.

[bross]

Originally Posted by northernman

By the time I am low on gas, I need to get off the bike for 5 anyways so a 40 foot walk inside to pay cash is barely a leg stretch, and i can grab a cold bottle of water, and take a wizz at the same time.

All I know is that the amount I save buying stuff cash is all the incentive I need.
Also no need to worry the machine is out of order, or some other BS.

I actually no longer accept credit cards in my shop.

And its awesome.

Man, what is it with BC? Bit of a shock when we moved here and the first few times I whip out my credit card and they say "Cash or check?" Check? I haven't written a check since 1982! But seeing what Jodie pays in fees on her debit/credit machine you can see why some businesses opt out. I'm with Bubba though, we use credit cards 90% of the time but they get paid off every month. We have been using the air miles collected to fly our kids out here for the past year, that's saved thousands of $$$$ in air fare.

[puckoach]

Please stay on topic, or start you own thread.

Trying to get info out to people here !

[V2K_CCTX]

^^^^^^^^ Who does he think he is.... a forum moderator....certainly no need to be RUDE!!!

[Bubba68CS]

Originally Posted by puckoach

Like a few other credit card companies, this "group" sent out a letter that may change your interest rate.

Be certain that you read these letters from all your cards this time. In some cases you can opt out, and pay off the balance at old rates. But, it will close the account.

HSBC/Kawi cited a 6 point jump in their example. Spinning the actual jump of 30% !

Originally Posted by puckoach

Please, this thread is not about people's individual opinions.

The point is to inform people that something might be happening to them, that they might not be aware of.

Further, that anyone considering a future purchase, or Kawasaki Corporate, should be aware of the actions by HSBC. (As well as by Citi-Bank,and others)

Please limit posts to the subject of the thread. Which is a dramatic increase in finance rates by certain credit card companies.

Originally Posted by puckoach

Please stay on topic, or start you own thread.

Trying to get info out to people here !

According to you, the only purpose of this thread was to inform us of a credit card hiking rates. And thats all you want us to comment on...meaning we can say 'thanks' or 'already knew that' Meaning this thread would have been dead from the start...meaning only people who looked at it the first day would have seen the info before it would have been lost in the shuffle. By continuing talk on a VERY related note, your message stays in with the current threads, and more people see it.

So give thanks!

[northernman]

Wow the newbie is a very friendly guy I see.

Smile, your on candid camera.

[bross]

Originally Posted by puckoach

Please stay on topic, or start you own thread.

Trying to get info out to people here !

Save your money, stay out of debt. How's that for info.

[badlandsbrett]

Newbe is from Boston, All those Red Sox fans are Rude!

[Vulcan900]

Last year Bank of America bought out the company that I had an account with for 21 years... never a late payment, never over limit, and typically carried a decent balance. This year the hiked the rate from 5.99% to 19%. Their explanation was the economy. I paid off the account the next day and closed it... after 21 years.

I will never do business with Bank of America again. I hope their corporate offices burn to the ground.

[CTRider]

Originally Posted by B-Bob

The other thing about HSBC is they never let go. We financed the carpet in our house 15 years ago with a 90-day, no interest loan through the carpet company that turned out to be an HSBC loan. Payed the loan off in 60 days. The loan/line of credit still shows up as active with a 0 balance on our credit report, after 15 years. Give it up, already!

That used to be a bad thing.

Now, that helps you. It used to be that having a large amount of available credit (relative to your income) would make creditors worry that you might go crazy and use it irresponsibly. It actually used to hurt your rating to receive an increase in available credit on a card over $5K or so. Traditional advice was to call and refuse the increase.

Now, low debt and high available credit, even at lower incomes makes you look better. If you have $15K of unused consumer credit, the banks love you now.

Originally Posted by northernman

Cash is king.
No interest, no credit card numbers to get stolen and abused.
No BS.

And 99% of the time, you can wrangle a nice discount when you buy stuff cash.
I save a lot buy cash, as I can usually talk the seller into a nice discount on whatever i am buying.

The problem is, without a good credit history (including the responsible use of credit cards), getting a loan is a lot harder. Plus, there are plenty of times when cash isn't practical:

- Buying something online
- Buying an expensive item (carrying a lot of cash around is dangerous)
- Buying gas when you aren't sure how much you'll be paying based on the price (I don't have a gas gauge, so I'm usually guessing how much I need - and I'm not running back in to get the excess back, nor am I going to do the math in my head).

One other thing to consider: if your card gets stolen, you call and cancel it. The same goes for debit cards. Plus, stuff that gets charged to the card isn't on you. If your cash gets stolen, it's gone forever. You won't get it back.

As far as discounts, there are also plenty of places that offer discounts for not using cash.

[CTRider]

Originally Posted by puckoach

Please stay on topic, or start you own thread.

Trying to get info out to people here !

If you'd like, we could just lock the thread until it disappears from lack of posts.

Honestly, people sharing their relative experiences and advice about it is, in fact, very much on topic.

[bross]

Originally Posted by CTRider

If you'd like, we could just lock the thread until it disappears from lack of posts.

Honestly, people sharing their relative experiences and advice about it is, in fact, very much on topic.

What's the best oil to use if I can't get my credit card back in my wallet? Synthetic or dino? And will synthetic make my wallet leak? And can I run a car tire on my truck when going to the bank?

[Lobocop]

Originally Posted by bross

What's the best oil to use if I can't get my credit card back in my wallet? Synthetic or dino? And will synthetic make my wallet leak? And can I run a car tire on my truck when going to the bank?

No, a car tire on anything other then a car would be disastrous on the scale of the dinosaurs disappearing from the Earth.