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Discussion in 'Sidewinders Bar & Grille' started by AxemanVR, Nov 21, 2019.
I'm protected from this evil Triumverant.
Maybe not so protected.................. forum acting up and I double posted.
This is weird. I am the only one that has voted "are our friends"
I've been very diligent in making sure our kids get credit cards. You get free credit for a month and your spending someone elses money not yours. What's not to like.
You make that purchase that doesn't turn up, someone charges you when they shouldn't, you simply say, "that's not mine" and don't pay it. Do that with a debit card and you'll spend the next 3 months trying to get your money back. Better they try and get the money back than you. What's not to like ?
Are you saying that you didn't pay attention to the name of the institutions on the credit apps?
Not what I have found at all. Saturday I bought a PRS Custom 22 at GC. Tag said $3,600. I got a $500 discount (max they can give according to the regional manager and district Head I spoke to) and 0% for 36 months. Synchrony requires a min payment that is the purchase price divided by number of months. This guarantees that as long as you make each monthly payment it will pay off on time.
Secondly I bought three guitars over a 4 month period earlier this year all on 0% on the same card. Each purchase gets its own term and min payment schedule. Again as long as I pay the monthly all three will payoff before the term expires and no interest will be charged. The guitars bought later have their own payment schedule and terms. In addition you can have any additional payments you want to make applied to any individual purchase and it’s terms or split between all balances on the card. I have been doing this since. 2011 with no problem and never paid a penny of interest. I have also spoken to synchrony and verified on several occasions in their terms they send that this is true.
Third I have returned 4 guitars in the last two years bought this way and all were refunded and the balance of the card zeroed out. In fact a fifth one I returned that I traded a guitar in on they refunded me $1,400 in cash (I mean cash too, not a check) so then I was free to use it to pay off the balance or use it for something else and have a 0% personal loan.
I have worked in lending and finance for 22 years and can assure you everything I said above is accurate. Now of course people can get in over their heads or have unexpected things happen that keep them from making a payment and they do get hit with high interest but this is not the fault of the CC companies. It drives me nuts when people call lenders evil and say this is a scam. It’s not a scam it’s a contract like an auto loan or mortgage. It’s not the companies fault if someone enters into the contract then fails to keep up their end of the deal. Same with them increasing limits, they are not forcing the person to use the limit. And don’t say they are inticing buyers to spend more than they should, it’s inherent on the card holder to have self control. This is like saying alcohol makers are evil because some folks can’t control themselves around their products. If I go buy a 12 of Budweiser and get a dui shoul I blame Budweiser for tempting me? Between Sam Ash, GC and Sweetwater I have $21,000 in credit limit to use. If I go nuts and get in a jam that’s on me, not synchrony.
As has been said these financial instruments are tools and like any tool are not good or bad. It’s all in how they are used. I never buy a guitar or gear on 0% that I could not payoff immediately if needed. I use the 0% as a tool to allow me to earn interest on my money. I have found that those who rail most against credit are usually ones who have gotten themselves in trouble with it in the past due to self control issues.
Synchrony doesn’t own PayPal, they are just a finance company paypal, GC and 114 other retailers use.
Wasn't Synchrony the former GE Financial?
Credit. I have used it, abused it, and been used and abused by it. Know your limits. Credit is like drugs & alcohol, and Pringles. Either you control it, or it controls you. Mind your monthly expenses and pay up every time you get a paycheck. Stay ahead and don't wait until it's 'due'. You already spent it, it's 'past due' on day one.
Credit sucks. I am finally beholden to no one. My money earns for me now and not them.
And Synchrony also does the Amazon cards. Amazon offers 5% back if you use that card. I have one, and use it for all my Amazon purchases, then just pay off those purchases at the end of the month. No finance charges, and I get 5% back. Good deal if you buy a lot on Amazon. But I would caution anyone who wants to go bananas and buy a bunch of stuff on Amazon just because they have the credit line. I am a big fan of saving up for staff, and the waiting/anticipation makes the final purchase a much more special than just buying everything on a whim, then worrying about paying for it later. Obviously there are folks that need money now (home repairs, car repairs, medical expenses, etc) but I was always taught credit cards were evil. But credit cards are certainly great for building credit for when you want to buy a car or home. I guess you can call them a necessary evil.
Not for me they aren't - they are my friend. They make nothing on me.
Never figured out who's dumb enough to buy something they can't afford AND pay an additional 29% on the debt - and yes my best friend does this all the time.
Pay in full every month and reap the benefits - I've traveled to Asia 24 times (most of them business class) since I started using them for my business, and I've churned about a dozen of them for an additional 500,000 miles (or so)
I prefer their 3 easy payments option
My gas card saves me $0.10/gallon, and I get an additional statement credit rebate every month.
I make 2 payments/month so I'm not paying any interest or fees.
It also keeps me from exposing my debit card at gas stations, which are notorious for having skimmers.
That's what 32% of people do (says their rep).
Those 29% interest rate scams only continue, because so many people somehow mix up the "free month reward" and then end up paying double.
It's like those giant casinos everywhere. They are not gigantic because most people "broke even", they are gigantic because so many people lose their ass.
Ya... 0% interest is a great deal IF you pay it off before the promotional period.
I do that with tires and non-covered medical.
But read your conditions closely.
Sometimes, any remaining balance simply begins accruing interest at the end of the 0% period.
Many times, the interest is applied retroactively, so if you are not at a zero balance on day 180/360, your balance suddenly jumps by the amount of interest that would normally have been charged... so if it's a $1000 purchase and your balance is $100 at the end of the promotional period, your balance will suddenly jump to $280-$390 depending on your rate.
Likewise for promotional offers on revolving accounts like Best Buy. If you have a $3000 balance and put that new fridge on the card, take the rewards points instead of the 0%, because your regular monthly payments for the next 6 months do not apply to the promotional balance... they apply to the earliest charges.
Synchrony is also Discount Tire. I don't care who Sweetwater is as long as the bags of candy keep coming.
Discount Tire/Americas Tire, Care Credit (medical), Sam's Club, JC Penny, Sam Ash, Guitar Center, Sit & Sleep....