Mercedes Visa Card...Is it worth it? - Page 2 - Mercedes-Benz Forum

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post #11 of 24 (permalink) Old 04-03-2006, 01:20 AM
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RE: Mercedes Visa Card...Is it worth it?

I paid for all my school and textbooks with my GM Card. Just recently I started to finance a truck at 0% with fair monthly payments.

Tax savings on amortization of equipment and a cheap truck that makes more money than it costs.

Freude am fahren!
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post #12 of 24 (permalink) Old 04-03-2006, 05:40 AM
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RE: Mercedes Visa Card...Is it worth it?

Reward credit cards are great. You just have to look at which one offers the most benefits for you.
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post #13 of 24 (permalink) Old 04-03-2006, 06:49 AM
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RE: Mercedes Visa Card...Is it worth it?

Quote:
430 - 4/3/2006 7:40 AM

Reward credit cards are great. You just have to look at which one offers the most benefits for you.
I use American Express Gold Card. For every dollar spent, you get one point (or double points for certain items)

To go to Canada , its either 25000 points, or 37500 points depending on the time of year, and airline. I use the card ALOT for work and sometimes I might be able to come up with 25000 points in one month!

I just finished college last year - my tuition was over 25000 a year... so each year meant a free trip!
Not to mention school books etc etc etc


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post #14 of 24 (permalink) Old 04-03-2006, 07:51 AM
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RE: Mercedes Visa Card...Is it worth it?

I've put in a little more thought on this subject matter since the last post.

I'm really wary of marketing ploy under the disguise of rewards program where you save more by spending more.
If one uses credit cards for business or any daily necessities, then the rewards are by all means an added benefit and come in handy when one has to buy some nice gift for the in-laws - can be done through accumulated rewards points.

There comes a point where one loses track of one's priorities and let the reward points take control of one's spending pattern; for example, one ends up purchasing whatever is not completely necessary just to be on the next tier of reward category -- would anyone book an unnecessary flight just so that one's frequent flyer miles can get one into the next rewards category? Believe it or not these scenarios can happen as people lose control of their spending driven by obsession with the rewards.

As with anything, I see it as a too much of a good thing - enjoy as they come by but do not spend for the sake of receiving rewards. 430 is pretty much on point here: review what the reward programs are, see which cards offer the most benefit to you in terms of rewards offered and don't forget about APR after the initial honeymoon period. In other words, read the fine print and put some thoughts into it if you are to commit (usually, rewards accumulate over time for those who use credit cards for personal expenses, meaning in order to attain viable rewards one has to hold onto the card for several years.)

Am being Captain Obvious here but sometimes one needs to state the obvious.



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post #15 of 24 (permalink) Old 04-03-2006, 11:53 AM
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RE: Mercedes Visa Card...Is it worth it?

Stating more obvious, credit cards enable you to spend money when you ordinarily would not. Therefore, if you have a credit card with 'rewards', would it not make you want to spend even more money than you ordinarily would? There is always someone who thinks that they can beat the system, but they wouldn't be offering all this gravy if it wasn't being eaten with the meal!
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post #16 of 24 (permalink) Old 04-03-2006, 01:43 PM
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RE: Mercedes Visa Card...Is it worth it?

When you use the cards you get rewarded no one ever said you couldnt pay the balance at the end of the month or when the cycle ended. Pay it in full each month then you really get a benifit. They get no intrest and you get rewards...tada
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post #17 of 24 (permalink) Old 04-03-2006, 02:19 PM Thread Starter
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RE: Mercedes Visa Card...Is it worth it?

Banks are another form of organized crime. There all mobsters.
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post #18 of 24 (permalink) Old 04-03-2006, 02:59 PM
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RE: Mercedes Visa Card...Is it worth it?

Quote:
monicaE320 - 4/3/2006 3:43 PM

When you use the cards you get rewarded no one ever said you couldnt pay the balance at the end of the month or when the cycle ended. Pay it in full each month then you really get a benifit. They get no intrest and you get rewards...tada
Glad to see you're in OT!!

The point I made is it changed your spending habits. Credit cards make available to you an extra method of spending money. If the cc isn't with you, there will never be that temptation to buy something you really don't need.

Statistics show that people with credit cards spend 30% more than those that do not have them (Dave Ramsey, financial counselor-radio host). If you're disciplined enough, fine. But most are not.
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post #19 of 24 (permalink) Old 04-03-2006, 03:33 PM
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RE: Mercedes Visa Card...Is it worth it?

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BenzE500 - 4/3/2006 4:19 PM

Banks are another form of organized crime. There all mobsters.

I resemble that remark.
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post #20 of 24 (permalink) Old 04-03-2006, 03:39 PM Thread Starter
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RE: Mercedes Visa Card...Is it worth it?

Quote:
yoseyman - 4/3/2006 2:33 PM

Quote:
BenzE500 - 4/3/2006 4:19 PM

Banks are another form of organized crime. There all mobsters.

I resemble that remark.
let me guess BofA
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