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Get the credit card and get 20 percent off? - 11/29/2008 6:48:22 PM   
TheBanshee


Posts: 403
Joined: 7/19/2007
Status: offline 		I wonder if I'm the only one this irritates.  Every time I go into a store I get the sales pitch from the cashier that I can get 20 percent off if I apply for their credit card. 
Does everyone realize that your credit score dips a little every time you apply for credit?
Does everyone realize most department stores charge at least 21 percent interest?
Yes, you can go right over to customer service each time you buy something, pay your card off and keep that 20 percent savings.  Its a good theory.  But human nature will prevail most times and you won't pay it off necessarily.  You now have another debt.  People tend to buy more when they are buying with plastic. 
It irritates me that my price is higher because I pay cash.  I have for the most part boycotted stores that use this practice. 
Does this bother anyone else or am I alone in this?
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RE: Get the credit card and get 20 percent off? - 11/29/2008 6:53:19 PM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		they earn more off of the interest then on the junk.   a buddy fell for 12 months -same as cash at lowes.  well if he is late on any payment the entire rate kicks in.. he spent 15k on a kitchen.   of course the computer misadded the total, but he was told- that "there is nothing we can do about that", so the refund had to go on a gift card wich can only be used to buy things, not to cash out. 

the old him would have said "in that case, cancel the sale".    but being that he feels it isnt really money if you charge it- .....

but yes- they call those "inquiries" and too many in the past 6 months are bad

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RE: Get the credit card and get 20 percent off? - 11/29/2008 6:59:02 PM   
hopelessfool


Posts: 988
Joined: 7/29/2005
Status: offline 		I get better deals from my amex then i do from the store and i tell them that, i also usually with a man weasel my way into the discount anyway. And with a female just ask to see a manager and ask them why my money isnt good enough as is to get the discount. 

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RE: Get the credit card and get 20 percent off? - 11/29/2008 7:04:31 PM   
UmbraDomina


Posts: 491
Joined: 7/22/2008
From: SE Michigan
Status: offline 		most of the retail sales associates have a qouta of how many credit aps they must get each day/week/month, for many of them a large portion of their evaluation is counted by these qouta's.


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RE: Get the credit card and get 20 percent off? - 11/29/2008 7:25:52 PM   
servantforuse


Posts: 6363
Joined: 3/8/2006
Status: offline 		I just saved $18.00 (20%) on a Sears purchase by taking out a new card. I cut it up the day it came in the mail..

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RE: Get the credit card and get 20 percent off? - 11/29/2008 7:51:39 PM   
MasterG2kTR


Posts: 6677
Joined: 8/7/2004
From: Wisconsin
Status: offline 		A little off topic hijack here....but it just seems to fit.....

I just got a notice in the mail today that my Platinum MasterCard which I have had for 15 years (always in good standing) will be going to an interest rate of 29.99% come January. They have cordially given me the option of "opting out" of the increased rate though. If I opt out I can use the card at the current rate of 18.9% until it reaches it's expiration date in 2010 at which time they will cancel it.

So it's either pay their loan shark rates or shop around for a different card.....hmmmm....looking in the mirror I don't see "stupid" anywhere on my forehead so....yeah....time for a new card and they can piss off.

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RE: Get the credit card and get 20 percent off? - 11/29/2008 8:01:59 PM   
BbwCanaDomme


Posts: 330
Joined: 5/22/2008
Status: offline 		I don't see why this is a big deal. Just say no if you don't want it, or yes if you do. It's not the stores problem if people spend more than they can afford. They're a business, it makes sense that they would try to make as much money as possible. The reason they offer a discount to people using credit, and not to people using cash, is because for everyone 1 person who pays their bill immediately after spending, there are 5 people that will let it collect interest. It's an incentive to sign up for the card, complaining to managment about your money not being good enough seems silly.

(in reply to MasterG2kTR)
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RE: Get the credit card and get 20 percent off? - 11/29/2008 8:02:41 PM   
celticlord2112


Posts: 5732
Status: offline
quote:

Does this bother anyone else or am I alone in this?

Doesn't bother me a bit.  There's a simple solution: Just say "No."

Yes, they want to use the charge card to make still more money off your purchases.  That is how profit-maximizing entities operate--and how they should operate.

As a consumer, you are a value-maximizing entity, and if that charge card has no value to you, it would be irrational to acquire it.  If the charge card has value to you, you rationally should acquire it.  If you mismanage it, shame on you.


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RE: Get the credit card and get 20 percent off? - 11/29/2008 9:31:04 PM   
KatyLied


Posts: 13029
Joined: 2/24/2005
From: Pennsylvania
Status: offline 		I just say "no thank you", it doesn't bother me at all.  Banks are the same way, tellers have a quota/reward for other services they are able to sell to customers.  It's just someone trying to make a living.

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RE: Get the credit card and get 20 percent off? - 11/29/2008 9:58:36 PM   
popeye1250


Posts: 18104
Joined: 1/27/2006
From: New Hampshire
Status: offline 		Two weeks ago at Sears I bought a new pair of Wolverine hiking boots. (They're real nice! And made in the USA- Michigan.)
The cashier offered me 10% off my purchase if I applied for a Sears credit card but I said no.
I put them on my bank card visa that costs me 8.57% on unpaid balances.
So, if you don't want the card just say no.

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RE: Get the credit card and get 20 percent off? - 11/29/2008 10:09:56 PM   
bamabbwsub


Posts: 566
Joined: 5/28/2007
Status: offline
quote:

ORIGINAL: MasterG2kTR

A little off topic hijack here....but it just seems to fit.....

I just got a notice in the mail today that my Platinum MasterCard which I have had for 15 years (always in good standing) will be going to an interest rate of 29.99% come January. They have cordially given me the option of "opting out" of the increased rate though. If I opt out I can use the card at the current rate of 18.9% until it reaches it's expiration date in 2010 at which time they will cancel it.

So it's either pay their loan shark rates or shop around for a different card.....hmmmm....looking in the mirror I don't see "stupid" anywhere on my forehead so....yeah....time for a new card and they can piss off.



Your current credit card rate is 18.9%??? That's wayyyyyy too high for someone with a 15-year history and an account that's always in good standing.

I got a similar letter from my credit card company, although the interest rate was a little better (18%, instead of the current rate of 7.49%). WTH?? My credit with them is PERFECT. Naturally, I will most definitely opt out. I guess those of us with good credit must subsidize all of the losers who have defaulted, and the credit card companies somehow have to make up for the tons of money that they were getting from those people.

< Message edited by bamabbwsub -- 11/29/2008 10:28:09 PM >

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RE: Get the credit card and get 20 percent off? - 11/29/2008 10:22:05 PM   
NuevaVida


Posts: 6707
Joined: 8/5/2008
Status: offline
quote:

ORIGINAL: TheBanshee

It irritates me that my price is higher because I pay cash.  I have for the most part boycotted stores that use this practice. 



It's called "incentive." It's how they pull people in to use their cards, and make money off the interest. In the long run, card users pay more for their charged purchases.

Gas stations often use incentive to pay cash, by charging a few cents less per gallon if you DON'T use your card. Do what makes sense to you, but if you boycott stores that do this, you'll probably be boycotting a lot of stores!

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RE: Get the credit card and get 20 percent off? - 11/29/2008 10:33:41 PM   
BitaTruble


Posts: 9779
Joined: 1/12/2006
From: Texas
Status: offline
quote:

ORIGINAL: bamabbwsub


Your current credit card rate is 18.9%??? Dude...they're robbing you!!

I got a similar letter from my credit card company, although the interest rate was a little better (18%, instead of the current rate of 7.49%). WTH?? My credit with them is PERFECT. Naturally, I will most definitely opt out. I guess those of us with good credit must subsidize all of the losers who have defaulted, and the credit card companies somehow have to make up for the tons of money that they were getting from those people.


Similar here. My Amex card which has been 3.9% since I got it about 10 years ago and is going up to 7.49% effective Jan 2009 and I have perfect credit .. not just with them, but with everyone. They are also tacking on a 2.7% rider if I use it outside the country. That really sucks because we're moving to Portugal in 12 days and I was planning on using that card until we get the Euro's straightened out with the international bank account we have to open. If it was any card besides Amex I would probably just throw it in a drawer and quit using it, but Amex charges a yearly fee and my revolving max on there is very large so I would hate to give it up all together. It's a great card to have to maintain a high credit rating. I'm not happy about it, but I'm not so pissed off that I'm willing to fuck up my own credit for some personal satisfaction at telling them to just fuck off. ::sighs:: Talk about short and curly's. (not that I have those either.. just saying. )

(Is wondering WTH is up with the almost 30% rate ... now, that's just nuts!)

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Rock, paper, scissors."

He laughed. "You are the wisest woman I know."


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RE: Get the credit card and get 20 percent off? - 11/29/2008 11:07:00 PM   
Vendaval


Posts: 10297
Joined: 1/15/2005
Status: offline 		Yes, which is why you are always asked at check out if you already have one of their cards or want to apply for one and get a certain percentage off your total ticket price.

quote:

ORIGINAL: UmbraDomina
most of the retail sales associates have a qouta of how many credit aps they must get each day/week/month, for many of them a large portion of their evaluation is counted by these qouta's.


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So in this gray haze we'll be meating again, and on that
great day, I will tease you all the same."
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RE: Get the credit card and get 20 percent off? - 11/29/2008 11:47:46 PM   
NuevaVida


Posts: 6707
Joined: 8/5/2008
Status: offline
quote:

ORIGINAL: BitaTruble

(Is wondering WTH is up with the almost 30% rate ... now, that's just nuts!)


Because of my lousy credit (thank you, divorce), my cards hiked up to 30% and lowered the limits. Citibank actually lowered the limit to BELOW what I had on it and then charged me an over-limit fee (they have since heard from me and removed it).

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RE: Get the credit card and get 20 percent off? - 11/29/2008 11:51:40 PM   
moonvine


Posts: 780
Joined: 11/7/2004
Status: offline 		Don't save one to use for emergencies, either.  I had one that had been paid off for several years I was saving for an emergency.  The bank decided this was dangerous behavior and took it upon themselves to close it.   

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RE: Get the credit card and get 20 percent off? - 11/29/2008 11:55:54 PM   
LadyPact


Posts: 32566
Status: offline 		As someone who was the target of credit card fraud last month, I can tell you that you need to be exceptionally careful when it comes to your cards.  That "save one for emergencies" thing is great, until it's no longer in your posession, and because you were "saving" it, you don't know.

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RE: Get the credit card and get 20 percent off? - 11/30/2008 12:38:15 AM   
BitaTruble


Posts: 9779
Joined: 1/12/2006
From: Texas
Status: offline
quote:

ORIGINAL: NuevaVida


quote:

ORIGINAL: BitaTruble

(Is wondering WTH is up with the almost 30% rate ... now, that's just nuts!)


Because of my lousy credit (thank you, divorce), my cards hiked up to 30% and lowered the limits. Citibank actually lowered the limit to BELOW what I had on it and then charged me an over-limit fee (they have since heard from me and removed it).


30% just seems criminal to me! I'm glad you got those charges removed though. I haven't been in that situation, but I think it would probably be enough to drive me to cash forever.

_____________________________

"Oh, so it's just like
Rock, paper, scissors."

He laughed. "You are the wisest woman I know."


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RE: Get the credit card and get 20 percent off? - 11/30/2008 4:22:54 AM   
ScooterTrash


Posts: 1407
Joined: 1/24/2005
From: Indiana
Status: offline 		The card pushers only irritate me for a second, then I tell them if I couldn't afford what they were selling, we wouldn't be having this discussion. Years ago I had credit cards, considered it a lesson and have never had one since. Debit card or cash only for me...if I can't afford it, it's apparently it's a luxury and ridiculously priced anyway, so no one probably needs it. 

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RE: Get the credit card and get 20 percent off? - 11/30/2008 4:51:43 AM   
thishereboi


Posts: 14463
Joined: 6/19/2008
Status: offline 		Any time I have run into this, I have just said no thanks and kept walking. It didn't annoy me. I expect that a store would try and get people to use their credit cards. After all, they are in business to make money. Why would I be upset about it?

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