Surviving on Credit Cards
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Surviving on Credit Cards (by BRAD 20,000 [IN]) Feb 3, 2023 5:08 PM
       Surviving on Credit Cards (by Still Learning [NH]) Feb 3, 2023 5:53 PM
       Surviving on Credit Cards (by 6x6 [TN]) Feb 3, 2023 8:42 PM
       Surviving on Credit Cards (by BRAD 20,000 [IN]) Feb 4, 2023 4:46 PM
       Surviving on Credit Cards (by Ken [NY]) Feb 4, 2023 6:48 PM
       Surviving on Credit Cards (by Ray-N-Pa [PA]) Feb 5, 2023 8:46 PM
       Surviving on Credit Cards (by WMH [NC]) Feb 5, 2023 9:44 PM
       Surviving on Credit Cards (by zero [IN]) Feb 6, 2023 7:10 AM


Surviving on Credit Cards (by BRAD 20,000 [IN]) Posted on: Feb 3, 2023 5:08 PM
Message:

Today's headlinr. CNBC

4th quarter CC debt is 18.5% greater than same time last year.

Consumers are relying more on CCs for essentials like food and rent.

Who are these people? OUR RESIDENTS!

Stay tight on rent - ZERO TOLERANCE on lates.

Set up SQUARE to accept CC for your rents. .

BRAD --174.202.xxx.xx




Surviving on Credit Cards (by Still Learning [NH]) Posted on: Feb 3, 2023 5:53 PM
Message:

Brad, when you take forms of payment with fees 1.8-3.5%, are you passing fees on to your tenants? My rents range from 1250-1600 so that would be $30-60? Iím getting ready to sign up for clearnow but see the value of other methods. --184.167.xxx.xx




Surviving on Credit Cards (by 6x6 [TN]) Posted on: Feb 3, 2023 8:42 PM
Message:

And then they will end up filing BK. --73.120.xx.xx




Surviving on Credit Cards (by BRAD 20,000 [IN]) Posted on: Feb 4, 2023 4:46 PM
Message:

6man,

Yes, BK is coming soon for them. The article mentioned an average of 20% interest on CC. But they will owe the CC, not me.

Still,

We use SQUARE and PayPal. They charge 2.9% + .15? each, totaling 3.25% so we charge the res 4%.

Some tell me they used CC to pay the utils to have money available for rent.

Just had 2 drafts bounce because their bank hit their account with extra fees.

We require their CC info and permission on the lease as a backup.

BRAD --73.103.xxx.xxx




Surviving on Credit Cards (by Ken [NY]) Posted on: Feb 4, 2023 6:48 PM
Message:

Brad,how many tenants pay using a credit card? --74.77.xx.xx




Surviving on Credit Cards (by Ray-N-Pa [PA]) Posted on: Feb 5, 2023 8:46 PM
Message:

I do remember my first credit card. I got it for ONLY emergencies.

Yeah

Those days are long gone. Now I myself use the card that gives me the most perks and pay it off in full.

I am not sure if I was the only one who started out with the emergency mind set when they were young and now play the frequent flier point game. I claimed over $900 in 2022 and paid no interest --24.101.xxx.xxx




Surviving on Credit Cards (by WMH [NC]) Posted on: Feb 5, 2023 9:44 PM
Message:

We don't care about miles anymore, so our cards gives us points for anything we buy. We use our CCs for everything, even $1.50 at 7-11. Pay it off as we use it. But the tracking of expenses is priceless. --50.82.xxx.xxx




Surviving on Credit Cards (by zero [IN]) Posted on: Feb 6, 2023 7:10 AM
Message:

Against the spouse's advice I got a Lowes AMEX card. Did it so the guy at the store would get his quota in. Plan was to leave it alone.

Now I use it for all the business expenses that I can. The rate is higher than other cards but when you pay it off monthly it doesn't matter.

Used to be that the bonus points were Lowes gift cards. I shop there a lot so that was a perk in itself. Now they allow you to pay toward the credit card debt itself. That is even easier for us.

I got cards for the kids when they were young. Low amounts on them but it all worked out. Guess it was a good idea to help their credit score as well. --107.147.xx.xxx





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