What type of credit card do you use when booking cruises?

[DarrenM]

Hence one of my favourite films is the big short.

 

Not that what they did stopped them doing it again.

[Toofarfromthesea]

6 hours ago, DarrenM said:

Is anyone on here ignorant of how they work?

 

I would never presume to guess at what you do or do not know, as you like to portray yourself as incurably ignorant about anything financial but I think it is all just an act.

[Underwatr]

1 hour ago, DarrenM said:

Credit ratings were part of the problem letting people build up huge debt.

Actually, that's sort of a self-correcting problem. 

 

A person with a high credit rating is the sort of person who is unlikely to build up a huge debt.

A person who is likely to run up a huge debt is unlikely to have a high credit rating, particularly if the debt gets out of hand.

[clo]

1 hour ago, Underwatr said:

Actually, that's sort of a self-correcting problem. 

 

A person with a high credit rating is the sort of person who is unlikely to build up a huge debt.

A person who is likely to run up a huge debt is unlikely to have a high credit rating, particularly if the debt gets out of hand.

I've been furious for ages at people who blame banks for their own foolish decisions. The biggest for me is when variable interest rates are lower, get the dang lower monthly payment; don't buy a more expensive house.

[ldubs]

32 minutes ago, clo said:

I've been furious for ages at people who blame banks for their own foolish decisions. The biggest for me is when variable interest rates are lower, get the dang lower monthly payment; don't buy a more expensive house.

 

I tend to agree, but there was culpability on the part of the financial institutions too.  For example, inflated appraisals to support inflated prices to support loan agent bonuses.   

[MicCanberra]

For domestic cruise bookings, our normal CC which collects FF points, for international booking, one without international fees.

[ldubs]

11 hours ago, 2wheelin said:

Even at an unheard of 10% “rebate” that would mean $300,000 charged. That’s 4 times my annual income! 

I use two or three different cards and usually just apply the rewards to my statement occasionally. I did get the Delta AmEx basic card just to get free bags for 5 of us on a recent trip.

 

I read "equivalent retail" to not literally mean they earned $30K in rebates.  Probably earned miles or 3x type rewards that allowed booking of airfares with a retail equivalent of $XX..  

 

Or, I could be all wet!  Haha

[luisc25]

On 1/21/2020 at 3:37 AM, Stateroom_Sailor said:

I'm curious what % of people look for general rewards, miles, cash back, brand loyalty, or prefer not to use credit cards at all (Dave Ramsey approved).

 

I just paid the deposit with the premium CC to get the travel insurance and send the payment right away. (Ramsey approved if you send the payment right away) and don’t get in debt, remember the key is not to have debt. In other words don’t overspend more than budget and if you can’t covered don’t buy it. Simple as that. 

Edited January 24, 2020 by luisc25

[FlyerTalker]

3 hours ago, luisc25 said:

I just paid the deposit with the premium CC to get the travel insurance and send the payment right away. (Ramsey approved if you send the payment right away) and don’t get in debt, remember the key is not to have debt. In other words don’t overspend more than budget and if you can’t covered don’t buy it. Simple as that. 

 

Suggest that you don't send the payment "right away", but just during the normal billing cycle time-frame. Paying at mid-cycle can be a negative and generate red flags.  Here's a recent blog post that might be informative:

 

https://viewfromthewing.com/paypal-shares-people-committing-fraud-looks-like-fraud/

 

What Ramsey is trying to get across is that you keep your balances at zero -- and for those with minimal self-control, it's easy to let that full payment slide.  So he goes the opposite extreme and wants you to pay ASAP.  Just pay in full at the regular billing time.

[Underwatr]

Meh. I'm run who runs everything through one credit card or another and pays it all off. Credit card debt is an issue when you carry a balance. The discipline is either in not using a credit card (as Ramsey insists) or just living below your means no matter whether you charge it or not (Underwatr's Rule). 

[2wheelin]

7 hours ago, FlyerTalker said:

 

Suggest that you don't send the payment "right away", but just during the normal billing cycle time-frame. Paying at mid-cycle can be a negative and generate red flags.  Here's a recent blog post that might be informative:

 

https://viewfromthewing.com/paypal-shares-people-committing-fraud-looks-like-fraud/

 

What Ramsey is trying to get across is that you keep your balances at zero -- and for those with minimal self-control, it's easy to let that full payment slide.  So he goes the opposite extreme and wants you to pay ASAP.  Just pay in full at the regular billing time.

The example in the blog was charging a large amount, presumably near the limit?, and sending a check for way more than that to create a positive balance. That was then immediately used for another charge. Far different than sending a payment for the amount of charge. I would hate for people who like to send payment right away be afraid to continue doing that. I may be reading the blog too narrowly but I doubt one would have a problem simply paying the balance.

I also pay every month and payments are electronic from our bank which would I assume also not create a flag. I’ve only paid mid-cycle once and that was on a new card and I was testing that the electronic payment would go through correctly. I had purchased a large amount and would be out of the country on the due date so wanted to make sure it got paid.

I have been living the Underwatr rule all my life. It works, no matter what your income.

[pacruise804]

11 hours ago, luisc25 said:

I just paid the deposit with the premium CC to get the travel insurance and send the payment right away. (Ramsey approved if you send the payment right away) and don’t get in debt, remember the key is not to have debt. In other words don’t overspend more than budget and if you can’t covered don’t buy it. Simple as that. 

 

7 hours ago, FlyerTalker said:

 

Suggest that you don't send the payment "right away", but just during the normal billing cycle time-frame. Paying at mid-cycle can be a negative and generate red flags.  Here's a recent blog post that might be informative:

 

https://viewfromthewing.com/paypal-shares-people-committing-fraud-looks-like-fraud/

 

What Ramsey is trying to get across is that you keep your balances at zero -- and for those with minimal self-control, it's easy to let that full payment slide.  So he goes the opposite extreme and wants you to pay ASAP.  Just pay in full at the regular billing time.

 

I admittedly haven't listened to him in a few years, but when did he switch to being ok with having credit cards at all (even if paying every month).  He used to be adamantly against this and was very anti-credit card (debt or no debt). 

 

I know in our situation even though we would pay in full every month, I didn't feel we were hitting the savings and investing goals we wanted.  A lot of Dave Ramsey teaching is Bible based, which is often counter-cultural.  We felt we were disciplined, but looking for better than normal and liked his direct focus "baby step" approach over other financial plans we researched.  Being mid 40's with a paid for home, full funded savings, maxed out retirements, and college investments that should allow our children to obtain college degrees without student loans - even if I don't get 3% cash back on the little we spend each year - is a place I am at peace with.

[DarrenM]

13 hours ago, clo said:

I've been furious for ages at people who blame banks for their own foolish decisions. The biggest for me is when variable interest rates are lower, get the dang lower monthly payment; don't buy a more expensive house.

I agree since about 2008. Prior to that the banks fell over backwards to give any one any amount of credit. I know this from experience.

 

And the fact that banks still make huge profits and give out huge bonuses still suggests to me that they are up to no good.

 

And to that patronising poster that claims I am insufferably ignorant, I suggest that you get to know me first. Its not ignorance to have an opinion. Especially against organisations that caused such pain for so many people and never ever apologised.

[Toofarfromthesea]

15 hours ago, ldubs said:

 

I read "equivalent retail" to not literally mean they earned $30K in rebates.  Probably earned miles or 3x type rewards that allowed booking of airfares with a retail equivalent of $XX..  

 

Or, I could be all wet!  Haha

 

People who think you have to spend 300,000 on their credit card in order to get tickets with a retail value of 30,000 do not have a clue about how any of this works.  And they are actually proud of their ignorance.

[Toofarfromthesea]

14 hours ago, luisc25 said:

I just paid the deposit with the premium CC to get the travel insurance and send the payment right away. (Ramsey approved if you send the payment right away) and don’t get in debt, remember the key is not to have debt. In other words don’t overspend more than budget and if you can’t covered don’t buy it. Simple as that. 

 

Ramsey went broke using credit.  Why would anyone rely on advice from him on credit?  

 

 

[Toofarfromthesea]

2 hours ago, DarrenM said:

I agree since about 2008. Prior to that the banks fell over backwards to give any one any amount of credit. I know this from experience.

 

And the fact that banks still make huge profits and give out huge bonuses still suggests to me that they are up to no good.

 

And to that patronising poster that claims I am insufferably ignorant, I suggest that you get to know me first. Its not ignorance to have an opinion. Especially against organisations that caused such pain for so many people and never ever apologised.

 

Well you certainly have a reading comprehension problem as I said no such thing.  I said you liked to PORTRAY YOURSELF as incurably ignorant, but that I didn't believe it.  It is just a part of the class clown role you seem to enjoy playing.

[clo]

4 hours ago, Underwatr said:

just living below your means

We're in our 70s now and have always done that. Darn good thing since Bob's career long employer reorganized and he got laid off and offered early retirement at the tender age of 52. But our house and cars were paid for and we'd always paid the CC in full every month. We still cut back some but we made it.

[Stateroom_Sailor]

4 hours ago, pacruise804 said:

 

 

I admittedly haven't listened to him in a few years, but when did he switch to being ok with having credit cards at all (even if paying every month).  He used to be adamantly against this and was very anti-credit card (debt or no debt). 

 

He still is, even paying the balance right after it posts on your account. 

[Stateroom_Sailor]

1 hour ago, Toofarfromthesea said:

 

People who think you have to spend 300,000 on their credit card in order to get tickets with a retail value of 30,000 do not have a clue about how any of this works.  And they are actually proud of their ignorance.

 

How do you measure the level of pride in such ignorance?

[clo]

Just now, Stateroom_Sailor said:

 

How do you measure the level of pride in such ignorance?

In addition to being ignorant those that I interact with also have closed minds.

[Stateroom_Sailor]

15 minutes ago, clo said:

In addition to being ignorant those that I interact with also have closed minds.

 

In what ways would you like to see those minds opened?

[clo]

1 minute ago, Stateroom_Sailor said:

 

In what ways would you like to see those minds opened?

My vast experience 🙂 seems to indicate that it's hopeless. I rarely see those people say "wow, I never knew that!" When I met Bob over 30 years ago I was bad at handling money but have always (and mostly) had an open mind. I learned tons from him (and others).

[Stateroom_Sailor]

4 minutes ago, clo said:

My vast experience 🙂 seems to indicate that it's hopeless. I rarely see those people say "wow, I never knew that!" When I met Bob over 30 years ago I was bad at handling money but have always (and mostly) had an open mind. I learned tons from him (and others).

 

Perhaps with religion, politics, personal vices, and toxic family, but not with saving money.  If there were such thing as a "Premium AARP account, saving 10% off cruises", the vast majority would say, "wow, I never knew that!"  With credit cards, all you can do is explain your strategy, and see who bites.

[clo]

1 minute ago, Stateroom_Sailor said:

 

Perhaps with religion, politics, personal vices, and toxic family, but not with saving money.  If there were such thing as a "Premium AARP account, saving 10% off cruises", the vast majority would say, "wow, I never knew that!"  With credit cards, all you can do is explain your strategy, and see who bites.

Did you ever watch The Suze Orman Show? (We loved it.) There was a segment called "Can I Afford It?" I rest my case. LOL.

[Toofarfromthesea]

32 minutes ago, Stateroom_Sailor said:

 

In what ways would you like to see those minds opened?

 

Actually I couldn't care less.  If someone wants to portray themselves as ignorant that is their business.

 

It is also important to distinguish between ignorance and stupidity, as the former is curable and the latter is not.