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Your right. I'm just a believer that credit cards are only
for small purchases and NEVER larger purchases. Even
if you got the money upfront whats the point of using
credit for a large purchase over $1000 dollars.
Interest free loan for 9-18 months, 1-3% cash back reward, not having to go to the bank to withdraw $1,000, many transactions don't take place face-to-face making cash purchases impractical, the list goes on. I got my first credit card because I needed to make purchases of over $400 (airline tickets, online purchases) and got tired of asking my mother to use her credit card.
If you have a credit card with that kind of money on it, we need to talk!
You mean limit? Credit cards just keep increasing your limits if you are responsible. I could buy many cars on credit cards (multiple cards) if I wanted to.
Your right. I'm just a believer that credit cards are only
for small purchases and NEVER larger purchases. Even
if you got the money upfront whats the point of using
credit for a large purchase over $1000 dollars.
Large purchase = lots of points/miles earned.
Plus consumer protections on credit card purchases are more valuable when there's more money at stake. I'm not going to file a merchant dispute over $10, but you can bet I would over a defective $1000 item.
I charged (and immediately paid off) a $10,000 charge when we bought a car several years ago. That dealer didn't even flinch when I wanted to charge the deposit on my AMEX. The most recent car we bought last year, that dealer refused to charge anything more than $2,500. I used the credit card just to get the airline miles.
I wanted to put my $5,000 down payment on my credit card when I bought my car. The dealership had a cap of $2,500 that they'd allow to be put on credit card. so i did that, and wrote a $2,500 check. i did it solely for the 1% cashback. then i paid the balance off immediately from my checking.
my guess is, most dealerships have a similar cap, to avoid the processing fees of the credit card on the transaction.
Your right. I'm just a believer that credit cards are only
for small purchases and NEVER larger purchases. Even
if you got the money upfront whats the point of using
credit for a large purchase over $1000 dollars.
well, for one - i get an extended warranty. i also get 90 day purchase protection (damage, lost, stolen - credit card will refund me). i also get 1.25% cash back. i could go on, but those reasons are already plenty reason for me to charge ANY transaction, irrespective of the $ amount.
You mean limit? Credit cards just keep increasing your limits if you are responsible. I could buy many cars on credit cards (multiple cards) if I wanted to.
i'm absolutely astounded by the limits my credit card companies give me. i'm responsible with it, but if i ever charged up 3 or 4 of my cards to their limits....oy!
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