Home Forums Hunting & Shooting Hunter's Campfire Credit Card APRs

How are people getting rates sub-10 percent?

We have excellent credit and I’ve never seen anything that low, even in years past……

Points can add up. I worked with a guy who used a GM credit card for EVERYTHING. He paid his utility bills, taxes, groceries, literally everything with his card and paid it off at the end of every month so he never paid interest. Every 6-7 years he traded for a new GMC pickup. His points paid the 1st $7000-$8000.

Was talking to a cashier at Cabela's a while back. They had a customer buy a new $24,000 boat using nothing but Cabela's points.

I don't do nearly that well. Maybe $300-$400 a year in cash back points.

I have several cards and normally don't carry a balance on most of them. The one through my Credit Union is only 9% and it doesn't always get paid off but the balance is small enough that interest is only a few dollars occasionally. They can come in handy for unexpected expenses. It is better in the long run to carry a balance for 2-3 months to cover something than it is to pull money from a savings account.

And then there is convenience.

Hate the Game not the Player.

CC Rewards and Fees are built into the cost of most things you buy these days.

If you're a staunch cash/debit payer you're subsidizing CC users.

Last time you asked for a cash discount and got one? Rhetorical question only as most won't answer honestly. If they truly got one most likely over paid on the item price and or it wasn't a normal retail transaction

Credit cards can have the points advantage like you say, but they also have greater fraud protection than debit cards. I pay all mine off at the end of the billing cycle and I wouldn't use a debit card on a bet.

Not very likely today

I would never use a debit card linked to my checking account.

Credit card isn't linked to my money. It's on auto pay, so it pays in full every month. We run the business though credit cards and get an insane amount of miles every year.

Just remember the rule of usable credit

Even if you fully pay off your debt each month you can hurt your credit score if you use more then 25/33% of your usable credit

Many of the credit ccard company's are in South Decota. High rates are legal there.

My BOA card has been 5.9% for 20 years. I rarely ever carry a balance though.

Pay the balance every month. Don't carry a balance. Use it as a tool. Get a card that gives you rewards points and use the rewards. That simple.

Additionally, if you are running a business a separate CC helps you build your business credit score. It can protect purchases, and makes tax season MUCH easier.

Remember when we had to pay to have a card?

If someone steals your CC number, the bank will refund it to your account within a day. If someone steals your debit card number, the bank will refund it but it can take weeks and in the meantime, the money's missing from your account. Never buy anything online with a debit.

That said, big companies like Amazon and Costco make huge money on interest on their CC's. They depend on people buying more than they can pay off in a month.
If you pay for medical bills or car repairs on your CC, can you pay it in a month?

All Visa does for me is keep books! I pay what I owe before 30 days and NO INTEREST!!

There are still plenty of those out there

This^^^

Love the cash back card, they pay me to use them.

I can make virtual cards for use online as well, easier to see where the BS starts.

I have used a Delta Amex for travel and a Southwest Air Visa for all personal stuff for decades. I have a boatload of miles. But since COVID, we hardly ever travel any more, so I may switch to "cash back" cards.

I always pay the balance in full.

I was a poster child for credit card stupidity , carried a significant balance for about 25,years. Wasn’t that bad when we were a two income household. Since then I assumed all the debt and cleared it in five years.

All I owe on at present is a low interest loan on my used pickup. I could pay it off tomorrow but I’m accumulating a reserve of cash.

Damn, if’n I could do the last 30 years over again……

Anyhoo….. my pay-it-all-off-every-month Visa card is my friend.

If people would invest what they pay in interest, they'd be well off when they retire.

If you have to ask what the rate is; you should not have one