Friend in financial trouble

[Disneyliscious]

A dear friend of mine just revealed her family is in financial trouble.

What I know is her minimum monthly credit card payments are $3000 a month.

Clearly they have to make lifestyle changes

Pretty much sums the thread up right there. Her annual minimum CC payment is almost equal to what I make in a year. I haven't had a credit card in about 20 years and have never regretted it. Have her contact a credit counseling service. They can usually help and don't cost any money.

 

[tvguy]

Pretty much sums the thread up right there. Her annual minimum CC payment is almost equal to what I make in a year. I haven't had a credit card in about 20 years and have never regretted it. Have her contact a credit counseling service. They can usually help and don't cost any money.

How do you survive without a credit card? I only have one, but there seems to be an interesting divide in the world right now between business that are shifting to cash only, and those shifting to credit only. My wife had a Doctor's appointment Friday, and for the first time ever, I used a credit card to pay for parking because all the parking lots around the hospital are credit card only. Not sure you can even rent a car anymore without a credit card. I worked for Budget Rent A Car in 1979 and we had certain regulars who could put a cash deposit down in place of a credit card, but it was a $150, that would be like over $500 today.

 

[Disneyliscious]

How do you survive without a credit card? I only have one, but there seems to be an interesting divide in the world right now between business that are shifting to cash only, and those shifting to credit only. My wife had a Doctor's appointment Friday, and for the first time ever, I used a credit card to pay for parking because all the parking lots around the hospital are credit card only. Not sure you can even rent a car anymore without a credit card. I worked for Budget Rent A Car in 1979 and we had certain regulars who could put a cash deposit down in place of a credit card, but it was a $150, that would be like over $500 today.

Sure life would be a little easier at times with a credit card but I don't want the temptation to spend nor do I want to pay interest that I don't have to so I choose a "cash only" route. When I need a card, I use the Bluebird AE card. Its a free card and you can load money onto it for free. It acts as a virtual checking account with a debit card attached.

When AE won't cut it, I use a Walmart Money Card. In fact, I rented a car at MCO this past October with it. Did online check in, paid in advance, walked straight to my car and drove to the gate with no issues at all. All I had to do was show my roundtrip airline ticket. I was never charged a deposit of any kind - only the amount of the rental.

There was a period where rental car companies wouldn't look at you without a credit card but that hasn't been the case in several years now. After the recession they had to re-evaluate their policies in order to attract more customers as people were cutting up their credit cards and/or going bankrupt. I also rented from Enterprise in June of last year in my hometown. Used my Walmart Money card as well and no deposit was ever charged to my card.

 

[runwad]

If you own a house or a car you will pay higher rates for insurance due to no credit history. My mom had to get a card in her name only after my dad died because she never had her own credit.

 

[kamik86]

Sure life would be a little easier at times with a credit card but I don't want the temptation to spend nor do I want to pay interest that I don't have to so I choose a "cash only" route. When I need a card, I use the Bluebird AE card. Its a free card and you can load money onto it for free. It acts as a virtual checking account with a debit card attached.

When AE won't cut it, I use a Walmart Money Card. In fact, I rented a car at MCO this past October with it. Did online check in, paid in advance, walked straight to my car and drove to the gate with no issues at all. All I had to do was show my roundtrip airline ticket. I was never charged a deposit of any kind - only the amount of the rental.

There was a period where rental car companies wouldn't look at you without a credit card but that hasn't been the case in several years now. After the recession they had to re-evaluate their policies in order to attract more customers as people were cutting up their credit cards and/or going bankrupt. I also rented from Enterprise in June of last year in my hometown. Used my Walmart Money card as well and no deposit was ever charged to my card.

I could see this being a good option for those that feel they would be tempted to spend it.

Me I go the other way almost entirely. I rarely see any of my money in case. It direct deposits to my bank, I buy everything on credit card and most of the time pay them off completely every two weeks, and always before I'm charged interest.

My husband will carry a bit of cash on occasion either money we are paid back from someone (The other day we were at a friends house and all went in on pizza. DH ordered so he paid with our card and got cash from everyone else) or if we are going somewhere cash only but these are rare.

 

[tvguy]

I could see this being a good option for those that feel they would be tempted to spend it.

Me I go the other way almost entirely. I rarely see any of my money in case. It direct deposits to my bank, I buy everything on credit card and most of the time pay them off completely every two weeks, and always before I'm charged interest.

My husband will carry a bit of cash on occasion either money we are paid back from someone (The other day we were at a friends house and all went in on pizza. DH ordered so he paid with our card and got cash from everyone else) or if we are going somewhere cash only but these are rare.

In selecting a restaurant for our son's wedding rehearsal dinner, we talked to 3 different restaurants, all locally owned. The owners all said one of the issues they deal with on a daily basis is the cost of accepting credit cards, especially cards that offer rewards. The credit card company doesn't pay those rewards, the merchant does. None is ready to drop credit cards....yet....but some smaller mom and pop restaurants have gone cash only. I guess in some cases those reward cards take 10% of the total charge.

 

[kamik86]

In selecting a restaurant for our son's wedding rehearsal dinner, we talked to 3 different restaurants, all locally owned. The owners all said one of the issues they deal with on a daily basis is the cost of accepting credit cards, especially cards that offer rewards. The credit card company doesn't pay those rewards, the merchant does. None is ready to drop credit cards....yet....but some smaller mom and pop restaurants have gone cash only. I guess in some cases those reward cards take 10% of the total charge.

Yeah there are a few mom and pop stores that don't take them around here. These are the things DH carries cash for as a few are good enough to bother going and getting cash just to go to.

However for everything I can pay online plus places like target the cards are great.

 

[danygirl]

How do you survive without a credit card? I only have one, but there seems to be an interesting divide in the world right now between business that are shifting to cash only, and those shifting to credit only. My wife had a Doctor's appointment Friday, and for the first time ever, I used a credit card to pay for parking because all the parking lots around the hospital are credit card only. Not sure you can even rent a car anymore without a credit card. I worked for Budget Rent A Car in 1979 and we had certain regulars who could put a cash deposit down in place of a credit card, but it was a $150, that would be like over $500 today.

You rent using a debit card. Done it many times

 

[tvguy]

You rent using a debit card. Done it many times

Looking at the Hertz restrictions on Debit Card use, sounds like a HUGE hassle.

https://www.hertz.com/rentacar/rese...s/rentalTerms.jsp?KEYWORD=PAYMENT&EOAG=MSPT11

Using Debit Cards to Qualify for a Rental

• At many Hertz locations, debit cards issued under a VISA or MasterCard logo which draw funds directly from a cardholder’s linked bank account may be used at the outset of a rental to qualify for the rental. However, there are exceptions to this general policy as debit cards are not accepted at the outset of a rental to qualify for non-Hertz Plus Gold Rewards member rentals in the New York Metropolitan Tri-State Area and the areas of Hartford, CT, Philadelphia, PA, Boston, MA and Detroit, MI. Also, debit cards are not accepted to qualify for non-Hertz Plus Gold Rewards member rentals to customers under 25 years of age at Hertz Off-Airport locations. In addition, prepaid or store value cards are not accepted at the outset of a rental to qualify for rentals at any location.

• At Hertz locations where debit cards are accepted to qualify for a rental, in most cases, the location will perform a credit check for debit card customers to determine credit worthiness at the time of rental. The customer must meet the minimum criteria to rent using a debit card. The customer presenting the debit card must also present two (2) valid forms of identification. In addition, the acceptance of such debit cards is contingent upon the debit cards having available funds to cover the estimated charges plus an authorization of up to USD 200.00 given certain conditions that will be outlined at time of rental. These funds will not be available for your use.

• When a debit card is accepted as form of payment, at the start of the rental, two (2) forms of identification must be presented.
  • A valid United States or Foreign Country issued Driver’s License

PLUS

• One (1) of the following forms:
  • An additional credit card or debit card embossed with the same name as the driver’s license. The card is for identification purposes only and will not be credit authorized;
  • Government issued ID, in the same name as the driver’s license and debit card:
    -Valid Passport – United States or Foreign Country Issued
    -United States Military Identification Card
  • Non-government form of ID, example that may be accepted includes photo store member card (Costco, Sam’s, etc.), a photo employee card as long as the photo and name matches the driver’s license and debit card.
  • Current month Utility Statement in the renter’s name and the same address as on the driver’s license. Example Gas, Electric, Cable bill, etc.

 

[barkley]

Sure life would be a little easier at times with a credit card but I don't want the temptation to spend nor do I want to pay interest that I don't have to so I choose a "cash only" route. When I need a card, I use the Bluebird AE card. Its a free card and you can load money onto it for free. It acts as a virtual checking account with a debit card attached.

When AE won't cut it, I use a Walmart Money Card. In fact, I rented a car at MCO this past October with it. Did online check in, paid in advance, walked straight to my car and drove to the gate with no issues at all. All I had to do was show my roundtrip airline ticket. I was never charged a deposit of any kind - only the amount of the rental.

There was a period where rental car companies wouldn't look at you without a credit card but that hasn't been the case in several years now. After the recession they had to re-evaluate their policies in order to attract more customers as people were cutting up their credit cards and/or going bankrupt. I also rented from Enterprise in June of last year in my hometown. Used my Walmart Money card as well and no deposit was ever charged to my card.

I completely get where you are coming from-I refuse to pay interest and haven't done so on anything in several years. we do have credit cards but pay in full each month (largly w/items we want purchase protection and/or extended warranties on).

what you do via your prepaid cards is similar to what I have in place w/ one card through my credit union. I only have it b/c it's free (I also refuse to pay any fees for credit cards) and provides a free membership that provides bogo meals at several restaurants we like. I purposely set the limit at just a few hundred and when I use it I immediately go on-line and transfer the amount from my checking account to the card to pay it off.