I got a credit card limit increase offer today in the mail...

[Oerdin]

Sadly, there are a ton of idiots out there who have no clue about proper finances or the need for savings.  There are tons of people making six figures who are living paycheck to paycheck because they are too stupid to budget and figure out the difference between a need or a want.

[TheProwler]

My main concern is that the credit card companies change their terms all the time.  If to many people are smart customers avoiding fees and charges then they just change the rules in order to fuck over more.  The banks have whole departments of MBAs writing rules changes to try to trip customers up and I am not big headed enough to think I will always put smart them.

They can afford to pay the 1, 2, or 3% because they charge the merchant more than that.  I have been using no fee credit cards with rewards for over 30 years and never had a rule change "trip me up".

The credit card company makes money on each and every transaction.  They actually charge higher fees to the merchant for the cards with higher rewards.

In the big picture, the merchant pays the fees, so their prices have to be higher than if they did not accept credit cards.  In the end, the customer ends up with higher prices.

[TheProwler]

Sadly, there are a ton of idiots out there who have no clue about proper finances or the need for savings.

Do not take that personally, Joe.

[JOE]

Do not take that personally, Joe.

Well, I just got approved for another Credit Card today, Prowler.

A US $ Mastercard with a $9,000 US credit limit.

However....I never wanted that much.

I wish they had just issued a $500 credit limit.
I woulda just asked for $500 if they had allowed me to specify a limit.

I just wanted it for small online purchases like eBay.
Or maybe when going down to the US for shopping or travelling.

Sure as hell Don't wanna buy a car with it!

They say the average American/Canadian is deep in cc debt.

But I don't wanna follow them there.

Frankly, these credit card approvals are getting scary.

I def don't wanna add anymore at this time.
I'm not gonna accept any more offers from these companies.

Still, aside from making purchases in US$, I suppose a US Credit card is useful for doing/conducting business in the US with American customers.

Might use it in the future. But if I don't, I'll just close the account.

I probably won't use it much cuz the US Dollar is very expensive/high.

[TheProwler]

Still, aside from making purchases in US$, I suppose a US Credit card is useful for doing/conducting business in the US with American customers.

How are you going to use it to conduct business with American customers, Joe?

[JOE]

How are you going to use it to conduct business with American customers, Joe?

I dunno.

Buy stuff at auctions?

Haven't quite decided yet.

But what I know is that a lot of countries, especially in Latin America overwhelmingly accept the US dollar over other currencies. This has been told to me from people from there. So at least for travelling, a USD Mastercard could be very useful, Particularly in emergencies when no on other currency might do.

[TheProwler]

Buy stuff at auctions?

How is "Buying stuff at auctions" "conducting business with American customers"?

If you are buying stuff, you are the customer.

Also, you dingbat, you can use Canadian credit cards in other countries.  They just do a conversion of Canadian dollars to their local currency.

[Herman]

How is "Buying stuff at auctions" "conducting business with American customers"?

If you are buying stuff, you are the customer.

Also, you dingbat, you can use Canadian credit cards in other countries.  They just do a conversion of Canadian dollars to their local currency.

Old Joe is seventy years old and he doesn't know this shit.

[Oerdin]

I find the cc often get better conversion rates than actually changing currency.

[Shen Li]

I find the cc often get better conversion rates than actually changing currency.

I noticed that too.

[TheProwler]

Old Joe is seventy years old and he doesn't know this shit.

I guess driving a fuckin' limo is not really the great educational experience Joe led everyone to believe.

Haha!

[JOE]

How is "Buying stuff at auctions" "conducting business with American customers"?

If you are buying stuff, you are the customer.

Also, you dingbat, you can use Canadian credit cards in other countries.  They just do a conversion of Canadian dollars to their local currency.

...I was thinking that a  US credit card might be useful for buying goods/items at auctions when needed, and then re-selling them, Prowler.

....or using a US cc to buy wholesale goods and then re-sell them. Hopefully for a profit.

While I realize that wholesalers offer lines of credit, seems that a cc is the same thing. eg 30 days NET. And this might be useful when buying from US companies or those which transact in US dollars.

Anyways, it's just an idea.

[JOE]

I find the cc often get better conversion rates than actually changing currency.

Well, Oerdin, I sure get dinged heavily anytime I buy on eBay where transactions are done in US dollars using a credit card/PayPal.

Actually, I discovered one time that when I bought from an Australian merchant, it was much cheaper to buy in Australian dollars than American. They gave me an option to choose the currency, so I chose Australian. And it was like...10 % cheaper.

so, I thought I might try the approach of paying for items with a US cc, and then on my end, got to some place with good currency conversion rates, convert Canadian dollars into US, go to the bank and just pay them with the converted money when it comes time to pay the bill.

Outfits like PayPal/eBay ding the buyer 2-3% if they convernt.
They make so much profit off of their PayPal company and charging currency conversions.

[formosan]

I use my credit cards for almost all purchases.....I buy a lot of clothes online..

And I accumulate free money from my plastic.

[TheProwler]

...I was thinking that a  US credit card might be useful for buying goods/items at auctions when needed, and then re-selling them, Prowler.

....or using a US cc to buy wholesale goods and then re-sell them. Hopefully for a profit.

While I realize that wholesalers offer lines of credit, seems that a cc is the same thing. eg 30 days NET. And this might be useful when buying from US companies or those which transact in US dollars.

Anyways, it's just an idea.

Again, you communication-impaired simpleton, you can use Canadian credit cards to buy things in other countries, including the USA.