Comments on: Get what you want from credit card companies http://www.millionaireacts.com/1141/get-what-you-want-from-credit-card-companies.html Escape the Rat Race and Join My Journey to Financial Freedom Wed, 08 Feb 2012 15:12:46 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Pinay Mommy http://www.millionaireacts.com/1141/get-what-you-want-from-credit-card-companies.html#comment-2054 Pinay Mommy Sat, 06 Jun 2009 00:33:29 +0000 http://www.millionaireacts.com/?p=1141#comment-2054 This seems to be a really great post. Thanks for sharing, but for my case, I think it's already too late for me. Hehehe... Anyway, thanks for adding my blog to your roll. I already have added yours. Aside from my main blog, I have added your link to my blogroll at www.budgetblogging.net. Thanks! This seems to be a really great post. Thanks for sharing, but for my case, I think it’s already too late for me. Hehehe…

Anyway, thanks for adding my blog to your roll. I already have added yours. Aside from my main blog, I have added your link to my blogroll at http://www.budgetblogging.net. Thanks!

]]> By: crisiboy http://www.millionaireacts.com/1141/get-what-you-want-from-credit-card-companies.html#comment-1921 crisiboy Thu, 28 May 2009 16:46:55 +0000 http://www.millionaireacts.com/?p=1141#comment-1921 correct me if im wrong..i think ive already read this post..hehehe anyways as a banker and based on my experience as banker...you should also be responsible for using your credit card..after using it make it sure that when your billing statement come...you should pay all your dues. correct me if im wrong..i think ive already read this post..hehehe anyways as a banker and based on my experience as banker…you should also be responsible for using your credit card..after using it make it sure that when your billing statement come…you should pay all your dues.

]]> By: debt loans http://www.millionaireacts.com/1141/get-what-you-want-from-credit-card-companies.html#comment-1818 debt loans Thu, 21 May 2009 16:38:48 +0000 http://www.millionaireacts.com/?p=1141#comment-1818 nice post, thx for sharing it nice post, thx for sharing it

]]> By: tads http://www.millionaireacts.com/1141/get-what-you-want-from-credit-card-companies.html#comment-1812 tads Thu, 21 May 2009 09:50:33 +0000 http://www.millionaireacts.com/?p=1141#comment-1812 I have some 20 existing principal credit cards, most of which have been with me in the past 5-6 years. Never paid any annual fee or finance charges! That's what you call consumer rights! - Credit card companies earn roughly 5% commission on your purchases, and whether or not you pay the annual fees or finance charges, they still earn a lot from you. - Why I have 20 credit cards? No, I don't splurge on shopping or dining. I actually am a wise shopper and I just want to have them all so that I could get all the tie-up discounts, perks, and rebates wherever I am! - Credit cards serve as my discount card, my budget card, and my "monitoring card" as well. I actually use my credit card wherever it is accepted, instead of paying in cash. Credit cards delay your cash outflow. Just think about the 20-50 days when your cash could have been kept in the bank for a short-term investment. That could amount to just a peso or two, but still, it is for you to keep. - Rather than giving up your P1,000 cash to the already-rich department store or restaurant owner, pay using your credit card. But take note that you don't have the right to swipe for anything that you couldn't pay for. - Also, don't get crazy earning those rewards points. If you are able to redeem something, then good. If not, then don't swipe another P50,000 just to get a small toy as a reward. You might be able to buy that toy for just P10 or P20 in the sidewalks, your choice of item pa! - You might want to get a card that provides rebates instead of rewards, as rebates are easier to accumulate and redeem. - But if you think you can't say no to the shopping temptation, then just keep your cash, keep your card, and keep on searching for better income opportunities first before planning on your next shopping spree. I have some 20 existing principal credit cards, most of which have been with me in the past 5-6 years. Never paid any annual fee or finance charges! That’s what you call consumer rights!
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Credit card companies earn roughly 5% commission on your purchases, and whether or not you pay the annual fees or finance charges, they still earn a lot from you.
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Why I have 20 credit cards? No, I don’t splurge on shopping or dining. I actually am a wise shopper and I just want to have them all so that I could get all the tie-up discounts, perks, and rebates wherever I am!
-
Credit cards serve as my discount card, my budget card, and my “monitoring card” as well. I actually use my credit card wherever it is accepted, instead of paying in cash. Credit cards delay your cash outflow. Just think about the 20-50 days when your cash could have been kept in the bank for a short-term investment. That could amount to just a peso or two, but still, it is for you to keep.
-
Rather than giving up your P1,000 cash to the already-rich department store or restaurant owner, pay using your credit card. But take note that you don’t have the right to swipe for anything that you couldn’t pay for.
-
Also, don’t get crazy earning those rewards points. If you are able to redeem something, then good. If not, then don’t swipe another P50,000 just to get a small toy as a reward. You might be able to buy that toy for just P10 or P20 in the sidewalks, your choice of item pa!
-
You might want to get a card that provides rebates instead of rewards, as rebates are easier to accumulate and redeem.
-
But if you think you can’t say no to the shopping temptation, then just keep your cash, keep your card, and keep on searching for better income opportunities first before planning on your next shopping spree.

]]> By: Mela http://www.millionaireacts.com/1141/get-what-you-want-from-credit-card-companies.html#comment-1781 Mela Wed, 20 May 2009 03:53:47 +0000 http://www.millionaireacts.com/?p=1141#comment-1781 this is true, my annual fee for my citibank card has been waived for three years now. this is true, my annual fee for my citibank card has been waived for three years now.

]]> By: ph_investor http://www.millionaireacts.com/1141/get-what-you-want-from-credit-card-companies.html#comment-1751 ph_investor Mon, 18 May 2009 06:02:59 +0000 http://www.millionaireacts.com/?p=1141#comment-1751 Nice tips Tyrone. May I add that if you receive a notice that they will upgrade your card to "Gold", it would be better to decline as these have significantly higher annual fees and it is more unlikely that they will waive it. This happened to me once and when it was time to pay the annual fees, I politely said that they should waive it otherwise I will have to cancel my card. One of their Managers called me up to say that they have exhausted all means and they really can't waive the annual fee so I just cancelled it. Funny thing is I still get a monthly billing statement with zero balance from them although I cancelled the card 9 months ago. Nice tips Tyrone. May I add that if you receive a notice that they will upgrade your card to “Gold”, it would be better to decline as these have significantly higher annual fees and it is more unlikely that they will waive it. This happened to me once and when it was time to pay the annual fees, I politely said that they should waive it otherwise I will have to cancel my card. One of their Managers called me up to say that they have exhausted all means and they really can’t waive the annual fee so I just cancelled it. Funny thing is I still get a monthly billing statement with zero balance from them although I cancelled the card 9 months ago.

]]> By: bawatpisoko http://www.millionaireacts.com/1141/get-what-you-want-from-credit-card-companies.html#comment-1749 bawatpisoko Mon, 18 May 2009 04:02:29 +0000 http://www.millionaireacts.com/?p=1141#comment-1749 tnx for visiting my site. u have a very informative site here! will visit regularly. tnx for visiting my site. u have a very informative site here! will visit regularly.

]]> By: Benjamin Cip http://www.millionaireacts.com/1141/get-what-you-want-from-credit-card-companies.html#comment-1740 Benjamin Cip Sun, 17 May 2009 18:33:29 +0000 http://www.millionaireacts.com/?p=1141#comment-1740 My annual fees are about 24€ + 2,50€ every months. I own a mastercard. Nice post anyway. My annual fees are about 24€ + 2,50€ every months. I own a mastercard. Nice post anyway.

]]> By: Personal Finance Blog http://www.millionaireacts.com/1141/get-what-you-want-from-credit-card-companies.html#comment-1729 Personal Finance Blog Sun, 17 May 2009 09:32:46 +0000 http://www.millionaireacts.com/?p=1141#comment-1729 This a great post Tyrone! Congratulations on your new blog! You've really come a long way. I agree! Ask politely and more likely than not credit card companies will waive your annual fees. Specially if it's a card that doesn't really offer any real benefits. For cards that offer fuel rebates, I found it harder to have my fees waived because the companies reason out that they incur costs every time you acquire rebates as well. Otherwise, I haven't paid annual fees for years now. If you have a good credit standing or you have a good relationship with a certain bank, you can always apply for a new credit card with a waived annual fee for the first year ^^ Knowing bank managers would also help your application ^^ Congrats on your blog again! <a href="http://personal-finance-free.blogspot.com" rel="nofollow"> FREE Personal Finance Advice</a> <a href="http://entrepreneurphilippines.blogspot.com" rel="nofollow"> The Pinoy Entrepreneur</a> This a great post Tyrone! Congratulations on your new blog! You’ve really come a long way.

I agree! Ask politely and more likely than not credit card companies will waive your annual fees. Specially if it’s a card that doesn’t really offer any real benefits. For cards that offer fuel rebates, I found it harder to have my fees waived because the companies reason out that they incur costs every time you acquire rebates as well. Otherwise, I haven’t paid annual fees for years now. If you have a good credit standing or you have a good relationship with a certain bank, you can always apply for a new credit card with a waived annual fee for the first year ^^ Knowing bank managers would also help your application ^^

Congrats on your blog again!

FREE Personal Finance Advice
The Pinoy Entrepreneur

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