I had no idea understanding percentages was this hard ... (GED, pay, costs)

[jbgusa]

Credit card companies seem to like me but I don't know why. I have a bankruptcy-level 831 FICO on some indices,making me a poor credit risk. I pay my bills in full monthly, and I get 1.5% rebate on all my purchases. I get a 3% rebate on dining, 4% on gasoline and on Discover and Freedom VISA 5% on rotating categories. My wife and I make about $2500 or more on rebates and pay no finance charges.

None of it makes sense but they keep on trying to push higher credit limits and more cards on us.

[pobre]

Originally Posted by jbgusa

I have a bankruptcy-level 831 FICO

[MrRational]

Originally Posted by adjusterjack

Buy your shed elsewhere. Somewhere where there is no fee for using a credit card.

Do you mean where the CC fees aren't separately itemized?

[PAhippo]

Originally Posted by MrRational

Do you mean where the CC fees aren't separately itemized?

good point. The customer almost always pays the fees either hidden in the cost of the purchase or as a separate fee.

[chessimprov]

Percentages can be confusing. I can understand why the mistakes are being made that are made. It takes a certain way of thinking.

Understanding that 5,000 x 3.99% =($2,500 x 3.99%) + ($2,500 x 3.99%)
has nothing to do with 7.98% might be hard to see

BUT,

50 x = 25 x + 25 x

is easier to see.

Replace "x" with "3.99%".

So, you aren't adding the "3.99%"
You're using the same rate on multiple transactions.

If x was apples, then you have 25 apples + 25 apples = 50 apples altogether.

Instead of apples, you're " "counting" 3.99%".

Since " 3.99% " is an intangible object, it's harder for people to visualize something like this.

[turf3]

It would help if anyone were taught the meaning of "per cent". It means nothing more or less than "per hundred".

[jbgusa]

Originally Posted by pobre

I am missing something. What's the laughter?

[pobre]

Originally Posted by jbgusa

I am missing something. What's the laughter?

FICO of 831 is not exactly bankruptcy

[RationalExpectations]

Originally Posted by karen_in_nh_2012

I'm thinking about buying a shed so have been getting some quotes. Today I got one from a woman who gave me the shed price, which would be paid in 2 installments (half upon order, half upon delivery), and then said if I used a credit card there would an 8% surcharge.

I emailed back saying the shed price looked fine and I would write a check because I'd never heard of an 8% credit card surcharge -- the most I've heard of before is 3%. She emailed me back and said it's actually 2 transactions, the first swipe (upon ordering) at 3.99%, then the second (upon delivery) at 3.99%, so it adds up to about 8%. She suggested that I could pay in full upon placing the order and then the surcharge would be just 3.99%.



I emailed her back a very nice response saying that percentages don't work that way and it would be 3.99% whether paid in 1 installment or two (and I showed how that worked). But I was wondering, does she think that if it were paid in 5 installments, the surcharge would be just under 20%? Or 6 installments, just under 24%? Heck, pay once a month for a year but it'll cost you 48% extra for using a credit card!

I'm not sure which is worse: that such people vote, or that such people reproduce.

[deb100]

It can be confusing to me that when something triples it increases by 200%.