AOPA credit card --- WARNING.

"Paul Tomblin" wrote in message
...
In a previous article, "RS" said:
If you have an AOPA/MBNA credit card then you should check the APR on your
last statements. MBNA has been raising the APR on AOPA cardholders, even
if
you pay on time.

Anybody who carries a balance on any credit card is an idiot or a sucker.
The credit card companies hate me because I haven't paid a cent of
interest to any of them in 3 years. I get about 5 envelopes full of Visa
checks every month (as well as come-ons for new cards) because they want
to sucker me into that debt cycle.

They dont hate you they love you. They still get 2-3 pecent from the company
you used the credit card on. I do the same thing I buy everything on a
credit card. That way it is insured (somewhat) and I have a record. I pay
them off every month. I also have GMC card and when I buy a new car you can
get up to 3000.00 off the price of the car.
--
Paul Tomblin http://xcski.com/blogs/pt/
Microsoft - Where quality is job 1.0.1

In a previous article, "aluckyguess" said:
"Paul Tomblin" wrote in message
...
The credit card companies hate me because I haven't paid a cent of
interest to any of them in 3 years. I get about 5 envelopes full of Visa
They dont hate you they love you. They still get 2-3 pecent from the company

No, they hate me. Do you know what I read in the newspaper a couple of
days ago? That credit card companies refer to people who don't carry a
balance and who don't pay interest as "dead beats". On the other hand,
the guys running up huge debts that they'll probably never pay off are the
people they love - they'll get 4 or 5 times the actual debt in interest
payments, and then sue the person's estate when they die.

--
Paul Tomblin http://xcski.com/blogs/pt/
I once successfully declined a departmental retreat, saying that on
that day I planned instead to advance.
-- Alan J. Rosenthal

(Paul Tomblin) writes:

In a previous article, "RS" said:
If you have an AOPA/MBNA credit card then you should check the APR on your
last statements. MBNA has been raising the APR on AOPA cardholders, even if
you pay on time.

Anybody who carries a balance on any credit card is an idiot or a sucker.
The credit card companies hate me because I haven't paid a cent of
interest to any of them in 3 years. I get about 5 envelopes full of Visa
checks every month (as well as come-ons for new cards) because they want
to sucker me into that debt cycle.

Paul is what the credit card industry calls a "deadbeat"....
When the banks started the cc: industry in the 60's; they used
to cancel such people. Federal regulations somewhat constrain
them now.

There was a Frontline on the cc industry just last week. See
if your PBS station is rerunning it.
--
A host is a host from coast to
& no one will talk to a host that's close........[v].(301) 56-LINUX
Unless the host (that isn't close).........................pob 1433
is busy, hung or dead....................................20915-1433

On Thu, 25 Nov 2004 18:02:20 +0000 (UTC),
(Paul Tomblin) wrote:

In a previous article, "RS" said:
If you have an AOPA/MBNA credit card then you should check the APR on your
last statements. MBNA has been raising the APR on AOPA cardholders, even if
you pay on time.

Anybody who carries a balance on any credit card is an idiot or a sucker.
The credit card companies hate me because I haven't paid a cent of
interest to any of them in 3 years. I get about 5 envelopes full of Visa
checks every month (as well as come-ons for new cards) because they want
to sucker me into that debt cycle.

Credit cards are good for two things:
Convenience and emergencies:
They are NOT good for credit!

Even a signature loan will be half or less for the interest. That is
why there are companies out there making a business of saving credit
card users money.

I've never figured out how people do the economics of using a credit
card to purchase things they don't have the money for otherwise.
Credit cards are by far the most expensive way to purchase most
anything if they are not paid off on time.

If I don't have the cash handy for a large ticket item, I'll take out
a short term signature loan.

With the money Capitol one spends one spends on sending me junk mail I
could probably afford to fly for a few hours. No wonder I read they
need the money.

My own credit card co sends me those darn checks (Instant case) and
other incentives. Of course if I use any of that the interest is
charged from day one. There is no grace period to the due date.

I must receive at least 5 "pre approved" credit card applications per
week to feed the paper shredder.

There are far better ways to borrow than on a credit card.

Roger Halstead (K8RI & ARRL life member)
(N833R, S# CD-2 Worlds oldest Debonair)
www.rogerhalstead.com

I will only post once on this topic, 'cause I think it is rather off
topic and the thread needs to go away...

Roger writes:
Credit cards are good for two things:
Convenience and emergencies:
They are NOT good for credit!

Even a signature loan will be half or less for the interest. That is
why there are companies out there making a business of saving credit
card users money.
snip
My own credit card co sends me those darn checks (Instant case) and
other incentives. Of course if I use any of that the interest is
charged from day one. There is no grace period to the due date.

Actually, sometimes those cheques are a good deal. AMEX sent me some
cheques with a 4.99% rate (fixed for the duration of the loan) and a
$50 transaction fee. I was in the market for a small unsecured loan,
and following the conventional wisdom went to talk to my bank. My
banker took one look at the terms on those cheques, and told me that
he could not come anywhere near matching those rates. (At the time
small unsecured bank loans were going for something like 12%.)

The only gotcha? After using the cheque I had to throw the AMEX card
in a drawer and not use it anymore. According to the fine print if I
used the card at all then any charges I made would get paid off last,
after the low interest debt was paid off. And those purchases would
be charged a much higher rate of interest. They were counting on
customers being stupid enough to ring up more charges after using the
cheque.

It seems strange to me that AMEX is trying to train its customers to
_not_ use their card, but that is not my problem...

Chris
--
Chris Colohan Email: PGP: finger
Web: www.colohan.com Phone: (412)268-4751

"RS" wrote in message
news:m3opd.97109$5K2.54232@attbi_s03...
If you have an AOPA/MBNA credit card then you should check the APR on your
last statements. MBNA has been raising the APR on AOPA cardholders, even
if you pay on time.

So check your credit card statements and call AOPA credit card services to
complain.
And also call MBNA to drop the rate back down.

With the FED raising rates, all banks are, or will be, raising rates on
credit cards.

KB

"Kyle Boatright" wrote in message
news:55mdnW30VPNrvzvcRVn-
So check your credit card statements and call AOPA credit card services
to complain.
And also call MBNA to drop the rate back down.

With the FED raising rates, all banks are, or will be, raising rates on
credit cards.

Do you work for MBNA? You sound like the person I talked to at MBNA customer
service....I told him that the fed did not raise interest rates by 3 to 4%,
which is what MBNA is doing.

If you have an MBNA credit card, look at your statements...if you like being
screwed by the credit card company then ignore this thread and do nothing.

If you have an MBNA credit card, look at your statements...if you like
being screwed by the credit card company then ignore this thread and do
nothing.

You talk like MBNA owes you something. If you don't want to use their
damned card -- don't.

If MBNA charges you 20% interest -- and you're dumb enough to use their
card -- who cares? It's not like there aren't 100 other credit card
companies begging for your business, so either pay the bill off each month,
or tell 'em to take a hike.

We haven't paid a nickel of credit card interest since 1985 -- and that was
to pay for our wedding. (And I've felt stupid about paying *that* ever
since.) The ONLY valid reason to use a credit card is to consolidate all of
your bills into one easily payable check each month.

Credit cards are to consumers what the lottery is to investors -- just
another sucker bet.
--
Jay Honeck
Iowa City, IA
Pathfinder N56993
www.AlexisParkInn.com
"Your Aviation Destination"

"Jay Honeck" wrote in message
news:%9spd.150672$R05.66688@attbi_s53...
If you have an MBNA credit card, look at your statements...if you like
being screwed by the credit card company then ignore this thread and do
nothing.

You talk like MBNA owes you something. If you don't want to use their
damned card -- don't.

If MBNA charges you 20% interest -- and you're dumb enough to use their
card -- who cares? It's not like there aren't 100 other credit card
companies begging for your business, so either pay the bill off each
month, or tell 'em to take a hike.

Ok. So you also support legalized loan sharking. Fine.

But tell me, what will you do when home, auto and commercial proprerty loan
companies hike their rates just because they feel like it? Even if you pay
on time, every time. All they need to do is lobby hard enough to put it into
law and you are totally screwed.

What then, Mr Clever Guy?

But tell me, what will you do when home, auto and commercial proprerty
loan companies hike their rates just because they feel like it? Even if
you pay on time, every time. All they need to do is lobby hard enough to
put it into law and you are totally screwed.

What then, Mr Clever Guy?

I'm not following you. If you pay "on time, every time" -- credit card
companies CAN'T charge you any interest.

Or are you talking about annual fees, like American Express charges?
--
Jay Honeck
Iowa City, IA
Pathfinder N56993
www.AlexisParkInn.com
"Your Aviation Destination"