Disney Rewards Visa seems like a total crock.

[Disneyliscious]

Oh, okay, good for you. I just wondered because earlier in the thread you posted you have a bank account with zero balance, you pay only utilities and a mortgage, and no other loans/credit accounts. You said your business is mainly cash-based, and you stated in post 31:

"I don't have a single credit card. I don't have a single loan. I don't use a single bank (have an account with USAA with $0 in it because I don't use banks). I don't have a car payment and owe less than $8k on my house. I have no bills other than my utilities and even then, I have free water. So yes, I am SO mad....no wait....ANGRY that I don't have all this consumer debt that you speak of, which means I don't have (as quoted in your words) "power" to do that.

I haven't paid a monthly bill other than a house payment and utilities in over 2 years now. I'm broke according to the governments standards but Im free from paying bills. I manage just fine, living a simple life."

What do you mean when you say you're "broke"? I guess that's why I was wondering what bank would give you a loan. Broke in terms of cash on hand. I do not have a savings account with money in it. My checking is always at or near $0 with the exception of me making a deposit once a month to pay bills. I pay the bills online which makes the account go back at or near $0. I have never said I don't have assets. I have livestock, farm equipment, and land. While it would take some time to sell land and equipment, livestock can be sold any day of the week at a livestock market. Taking 20 head of cattle into the market would net an easy 20k at current market prices. I also have goats, horses, 50 laying hens, guineas, hay, etc.

I think it's great to have no consumer debt, but I also think savings are important. Then someone wouldn't need to take a loan at all.

I agree that savings are important. I'm just not a fan of banks and in order to keep money from laying around in my house, I invest it back into more livestock or some other asset. Buying cattle at $.85/lb and selling it for $1.25/lb 6 months later is not hard. Especially if you don't have to buy feed or hay. Do that on 10 steers and you can net $4k in 6 months. Also, we have a slaughterhouse. Buying a blind cow or one with a broken foot (makes it no good to a farmer for breeding) for $.30/lb at the market means $300 for a 1000 lb cow. Selling fresh beef at $2.00 a lb straight through @ 600 lbs dressed weight would net me $1200. My facility is state inspected with a score not lower than 98 in the last 10 years so finding people who want steaks, roasts, ground beef, etc all at $2/lb isn't hard.

If someone were to look in my purse - I am broke. However I do have ways of earning or obtaining money. Your savings account is in your bank, and thats fine. My savings account walks around in the pasture.

Its not that I think credit cards are evil. I don't. Im just a tight wad and can't see handing over my money to a bank. Farming is not easy work. Spending 10 hours a day in 105 degree temps cutting hot, sticky tobacco and burning your skin till it blisters is not fun. Gutting a cow and having her stomach bust and blow its contents all over you is not fun. Standing in 10 degree weather skinning a deer while being soaking wet from the water you use to wash the carcass off is brutal. I earn my money to the fullest and don't want to give it away. Im not saying that none of you work hard. I know you do. I could not do some of the jobs you all do. Im also not saying that any of you hand over your money to a bank. I'm only stating that for me and my family, I would not ever have a cc where I had to pay 14% interest (such as the cc I posted about).

To me, a bank that would punish someone indefinitely for being one day late on one payment is as crooked as they come. Even if Jesus told me I would never have a late payment, I don't want to do business with a bank that treats their customers that way. If they will screw people like that, they will screw you any way they can. And since most all banks do business that way, I will not be doing business with them. I have personally seen the rules changed in the middle of the game before. For most of you, you know exactly what your income will be for the month. Its not like that for me. Market prices change. Supply and demand changes. Some months I may not bring in much money at all and in other months I will make 3 months worth of "salary".

I do not have the ability in this 'career' to say "I will have 4k coming in from my income this month so I can spend 4k on my cc and then pay it off at the end of the month". Farming is based on weather, market prices, and luck. Many paydays come for us once a year, not every week or every month. So its different for me than it is most of you.

 

[ilovemk76]

I agree that savings are important. I'm just not a fan of banks and in order to keep money from laying around in my house, I invest it back into more livestock or some other asset. Buying cattle at $.85/lb and selling it for $1.25/lb 6 months later is not hard. Especially if you don't have to buy feed or hay. Do that on 10 steers and you can net $4k in 6 months. Also, we have a slaughterhouse. Buying a blind cow or one with a broken foot (makes it no good to a farmer for breeding) for $.30/lb at the market means $300 for a 1000 lb cow. Selling fresh beef at $2.00 a lb straight through @ 600 lbs dressed weight would net me $1200. My facility is state inspected with a score not lower than 98 in the last 10 years so finding people who want steaks, roasts, ground beef, etc all at $2/lb isn't hard.

If someone were to look in my purse - I am broke. However I do have ways of earning or obtaining money. Your savings account is in your bank, and thats fine. My savings account walks around in the pasture.

Its not that I think credit cards are evil. I don't. Im just a tight wad and can't see handing over my money to a bank. Farming is not easy work. Spending 10 hours a day in 105 degree temps cutting hot, sticky tobacco and burning your skin till it blisters is not fun. Gutting a cow and having her stomach bust and blow its contents all over you is not fun. Standing in 10 degree weather skinning a deer while being soaking wet from the water you use to wash the carcass off is brutal. I earn my money to the fullest and don't want to give it away. Im not saying that none of you work hard. I know you do. I could not do some of the jobs you all do. Im also not saying that any of you hand over your money to a bank. I'm only stating that for me and my family, I would not ever have a cc where I had to pay 14% interest (such as the cc I posted about).

To me, a bank that would punish someone indefinitely for being one day late on one payment is as crooked as they come. Even if Jesus told me I would never have a late payment, I don't want to do business with a bank that treats their customers that way. If they will screw people like that, they will screw you any way they can. And since most all banks do business that way, I will not be doing business with them. I have personally seen the rules changed in the middle of the game before. For most of you, you know exactly what your income will be for the month. Its not like that for me. Market prices change. Supply and demand changes. Some months I may not bring in much money at all and in other months I will make 3 months worth of "salary".

I do not have the ability in this 'career' to say "I will have 4k coming in from my income this month so I can spend 4k on my cc and then pay it off at the end of the month". Farming is based on weather, market prices, and luck. Many paydays come for us once a year, not every week or every month. So its different for me than it is most of you.

We do not use this months income to pay this months CC and bills. We use money we already have earned and have allocated for living expense in the bank to pay those bill so we would never not have the money when the CC comes in.

 

[alice99]

This thread is a train wreck.

 

[Tink-aholic]

This thread is a train wreck.

I agree. And unfortunately, it seems like all it would take is one bad virus to decimate the OP's livestock, her livelihood, and all of her savings. Obviously this has nothing to do with credit cards and banks, but OP, depending upon your age, you might want to consider diversifying some of your assets. I agree that your work sounds hard -- you can't expect to do that forever, right? Do you have a plan for your retirement?

 

[alice99]

I agree. And unfortunately, it seems like all it would take is one bad virus to decimate the OP's livestock, her livelihood, and all of her savings. Obviously this has nothing to do with credit cards and banks, but OP, depending upon your age, you might want to consider diversifying some of your assets. I agree that your work sounds hard -- you can't expect to do that forever, right? Do you have a plan for your retirement?

I concur .... but do not want to add to the insanity.... which I probably am doing just by posting at all.

 

[Disneyliscious]

I concur .... but do not want to add to the insanity.... which I probably am doing just by posting at all.

So its insanity because people choose to live differently? Really?

I have not bashed anyone for the way they choose to live or spend their money. I have questioned them on what would happen in certain situations, only to make it aware that no one is immune. I have stated numerous times that I believe it is wise to save.

Livestock insurance protects farmers from the wiping of their whole herd due to disease, elements of nature, theft, getting hit by a car, etc. A virus wiping my herd would not affect the assets I have in land, equipment, or processing meat.

In the end of all of this, the Chase Disney Rewards Visa is still a crock to me and my family and I will not be getting it.

 

[kiddo76]

We do not use this months income to pay this months CC and bills. We use money we already have earned and have allocated for living expense in the bank to pay those bill so we would never not have the money when the CC comes in.

Exactly! This month and I spending last month's income. Even though we have a steady income, I do not spend money I will have, only money I already have.

I consider putting all your eggs in one basket (almost literally) rather foolish. That is much riskier than the slight chance of having to pay a late fee. I prefer to diversify my assets, including cash, investments, and physical assets. It sounds to me the OP is at a much higher risk of financial ruin than those of us who choose to use credit responsibly.

 

[alice99]

So its insanity because people choose to live differently? Really?

I have not bashed anyone for the way they choose to live or spend their money. I have questioned them on what would happen in certain situations, only to make it aware that no one is immune. I have stated numerous times that I believe it is wise to save.

Livestock insurance protects farmers from the wiping of their whole herd due to disease, elements of nature, theft, getting hit by a car, etc. A virus wiping my herd would not affect the assets I have in land, equipment, or processing meat.

In the end of all of this, the Chase Disney Rewards Visa is still a crock to me and my family and I will not be getting it.

Uh, OK... whatever you say. You win.

 

[Tink-aholic]

So its insanity because people choose to live differently? Really?

I have not bashed anyone for the way they choose to live or spend their money. I have questioned them on what would happen in certain situations, only to make it aware that no one is immune. I have stated numerous times that I believe it is wise to save.

Livestock insurance protects farmers from the wiping of their whole herd due to disease, elements of nature, theft, getting hit by a car, etc. A virus wiping my herd would not affect the assets I have in land, equipment, or processing meat.

In the end of all of this, the Chase Disney Rewards Visa is still a crock to me and my family and I will not be getting it.

But you have bashed and I pointed it out to you. I even gave you the benefit of the doubt and the opportunity to retract and reword in case you were "accidentally" unkind...but you didn't. You kept at it.

Anyway, clearly we are going to have to agree to disagree. OP can hoard her bills in her cookie jar and the rest of us can hoard our credit card rewards. Seems fair to me.

 

[bumbershoot]

We do not use this months income to pay this months CC and bills. We use money we already have earned and have allocated for living expense in the bank to pay those bill so we would never not have the money when the CC comes in.

And this *has to be* the way Disneylicious does it too, since she works in cash. She has to have the cash in hand to buy something.

Therefore, if she had the cash in her wallet, and then charged that exact amount to the CC, and then paid the CC with the cash, she would be doing the EXACT same thing as she was before, but with the possibility of rewards.


Not all people can do it. It took DH and I a long long time to get to the point where we can do this. We had a false step when we got our first CC after we got married (a few years after we got married), and had to stop it for a year, get our head's on straight. It also involves a HUGE amount of communication with us, as we aren't working with unlimited funds.

We have the money in checking (and it's earning us interest, which is the bank's way of thanking us for letting them use our money temporarily), we spend the money with the CC (not the Chase card, we can't get that one!), then pay the CC with the money in the account. And get some rewards.

Since we were already working with cash, as long as we don't spend *ahead of ourselves*, it's actually quite easy. Would probably be easy for the OP, too, since she's used to working with cash...but she doesn't want to.

And not wanting to is great! But posting a big thing about this ONE card...when the people who NEED that info are never EVER going to read it... was just...not a choice I would have made.

I agree. And unfortunately, it seems like all it would take is one bad virus to decimate the OP's livestock, her livelihood, and all of her savings.

Seems so scary to have your livelihood caught up in things that might die before you mean them to die...houses that could be burned to the ground, etc etc etc... (especially with the money not being kept in a bank)

We had chickens while growing up...it was SO fabulous, we had fresh eggs and that saved us money... Until the night that my dad came over in a rage and let the dogs into the chicken coop. There went the chickens. Scary.

 

[vicki_c]

In the end of all of this, the Chase Disney Rewards Visa is still a crock to me and my family and I will not be getting it.

In the end, I think this is the biggest fallacy - that you are calling out the Chase Disney card. Pretty much ALL credit cards will penalize you if you are a day late, or even hours late - some of our cards have a time right on the due date - noon or 4 PM or something. I just don't think the Chase cards are worse than any other ones.

And I don't think credit is evil or charging late fees makes them immoral or anything else - and if you use them responsibly they can give you some benefits, whether it's a rewards card or earning interest on your money in the bank for an extra 25 days or whatever.

So calling out that specific card is the only thing in your post that I would really take exception to - that you think some cards are better than others - the vast majority are not.

 

[JimS4210]

This whole thread is a joke, right? It's a surprise to the OP that banks are out to make money from the masses? Nobody can be that dense... News Flash: Bad things are gonna happen with or without a credit card. But, to use the OP's example, if a family member suffers a serious injury or whatever, late fees or interest will be the least of my worries!

 

[gardenia]

No rewards card is worth it, unless you pay your ENTIRE balance off every month, which is what we do. We earn about $500 in rewards every year and never pay a penny in finance charges.

 

[JimS4210]

No rewards card is worth it, unless you pay your ENTIRE balance off every month, which is what we do. We earn about $500 in rewards every year and never pay a penny in finance charges.

But...but...your house might get hit by a meteorite and then you'd get stuck paying those outrageous fees!

 

[dzneelvr]

As long as we travel to WDW annually, this is an exceptional card for usWe save hundreds in reward dollars and basically pay for either our entire dining choices or resort 100%.I concur with the other posters about paying off the balance totally every month as a must-do. For over 25 years, We must and we do

 

[ilovemk76]

So its insanity because people choose to live differently? Really?

I have not bashed anyone for the way they choose to live or spend their money. I have questioned them on what would happen in certain situations, only to make it aware that no one is immune. I have stated numerous times that I believe it is wise to save.

Livestock insurance protects farmers from the wiping of their whole herd due to disease, elements of nature, theft, getting hit by a car, etc. A virus wiping my herd would not affect the assets I have in land, equipment, or processing meat.

In the end of all of this, the Chase Disney Rewards Visa is still a crock to me and my family and I will not be getting it.

You have all of your asset in non-liquid objects that are all related. Nothing you have is liquid. You can have insurance but how long before the check arrives?

My house and land is where I live and not also my job and my job is all of my investments.

I can get cash from the savings account quickly and investments in a few days.

Have you every heard not to keep all of your eggs in one basket?

 

[Disneyliscious]

You have all of your asset in non-liquid objects that are all related. Nothing you have is liquid. You can have insurance but how long before the check arrives?

My house and land is where I live and not also my job and my job is all of my investments.

I can get cash from the savings account quickly and investments in a few days.

Have you every heard not to keep all of your eggs in one basket?

I was not aware that livestock, equipment, land, and food supply were one basket. I am also (let me say this for what...the 4th time now?) not the ones on here saying I am immune to fees or interest because of what I do or do not have.

Im not arguing that my way of living is the smartest. Those who actually have read my posts would know otherwise. My argument was the way this cc company (along with others I have mentioned, for those who said I was pointing out this one card, which was used as an example because it was the one I got in the mail) did business. I think it is beyond making a profit and is crooked. I am allowed to think that way.

There is nothing wrong with how you and yours live. There is nothing wrong with how I live. Its a personal choice.

IMO, the card is still a crock and picking apart someones way of living is only diverting the fact that you do not want to stay on topic and admit, that anyone of us could have to end up paying interest or fees. I don't care who you are or what you have, the situation could arise that could cause this to happen. Is it the end of the world? Of course not. But you are only fooling yourselves if you think you are immune to it. Im not saying its likely, only possible.

Ever see people on the news who were millionaires and are now living in homeless shelters? People who were smart with their money, had investments, savings, etc. Crap happens.

 

[DawnM]

OP, I just think we are all saying that while we are not "immune to late fees" we know that it is no different than having to pay bills with a check or with cash. Crap happens.....so what, that has nothing to do with how you pay. We seem to be going around and around on this issue, so I will say this for at least the 3rd time.......some of us don't think this is a crock, so we will get the chard and enjoy the benefits.....you have an opinion that it seems none of us agree with.

Shall we continue to hash this out? You are really focused on that "immune to late fees." We don't believe we are, we are just saying that some of us have paid ON TIME for over 25 years now and we don't think this will be a problem. We have savings, we have steady jobs, we have adequate health insurance. So, the CHANCES of paying late fees are slim.

You point IS late fees, right? You keep saying we don't get your point so you will say it yet again.....but many of us don't think this is the main point of CC's great evils.

I hope I am being clear....I am actually really tired and need to get to bed.

Dawn

 

[Disneyliscious]

I hope I am being clear....I am actually really tired and need to get to bed.

Dawn

 

[IleneF]

OK so I charge (and pay off) about $4000/mo of household expenses ie: cable/internet/food/gas/electric etc. on the Disney CC (and pay it in full) but I only have about $250 in rewards???? Does that sound right. I think they limit me on how much I can earn quarterly Anyone else with that scenario?