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I never really thought about the effect I could have on the banks bottom line by using cash more.
I plan on switching from Bank of America to a local credit union once I get approved to join the credit union.
Local Credit unions are gaining alot of business from people fed up with the banks.
Credit unions see an Increase in members | WSBT - News, Weather, Sports South Bend | Local News (http://www.wsbt.com/news/local/79652302.html - broken link)
Nationally, credit union membership went up 11 percent in the third quarter this year. The issue? More people are growing tired of endless bank fees and they are losing faith in bankers whose irresponsible spending have caused financial trouble for the country
Nope, I almost NEVER use cash (unless for vending machines because they don't take credit)... always credit... never ever had a problem with using credit, always paid my bill when its due... ALWAYS... so I guess I am "sticking it" to the bank by paying off my bills... how about people pay their bills in full each month instead? In fact, my credit is so great (~800) I am getting some good offers on other things... its gotten me free stuff too, like GPS, cashback, etc etc... I use credit cards for cashback... with cash, I get ZERO back... hahaha.. I get on average about $20-40 back each month... that will be over $200-400 dollars a year... with paying cash, I LOSE that much money by not using credit... for me its credit all the way!
Local Credit unions are gaining alot of business from people fed up with the banks.
Credit unions see an Increase in members | WSBT - News, Weather, Sports South Bend | Local News (http://www.wsbt.com/news/local/79652302.html - broken link)
Nationally, credit union membership went up 11 percent in the third quarter this year. The issue? More people are growing tired of endless bank fees and they are losing faith in bankers whose irresponsible spending have caused financial trouble for the country
I've never incurred any fees from Bank of America. When I was looking around for a local bank, most of them had a bunch of little silly fees BOA didn't have.
I've finally found a local credit union that doesn't charge me a monthly fee and little fees for every little thing.
Local Credit unions are gaining alot of business from people fed up with the banks.
Credit unions see an Increase in members | WSBT - News, Weather, Sports South Bend | Local News (http://www.wsbt.com/news/local/79652302.html - broken link)
Nationally, credit union membership went up 11 percent in the third quarter this year. The issue? More people are growing tired of endless bank fees and they are losing faith in bankers whose irresponsible spending have caused financial trouble for the country
You have to be careful with some of these credit unions... I have begun to notice that a few of them are trying to profit off their customers now... some have "inactivity" fees... WTH.. its bad enough you have my money in your bank but you want me to spend it all or pay you a fee each month? hehehe... But I do LOVE credit unions... just have to realize that just because they call themselves a "credit union" does not mean they are a real credit union... I keep a credit union cause they give me the best rates when I need a loan while I keep a private bank account where it has most of my money because the interest rates are soo much better...
... always credit... never ever had a problem with using credit, always paid my bill when its due... ALWAYS... so I guess I am "sticking it" to the bank by paying off my bills...
That's the way we've always done it - get the rebates and perks without paying interest, that's the name of the game, right?
I'm old school and have always used cash. The only credit card purchases I use are online where they can't be avoided. And I always pay any credit card bills off in full each month.
I don't use cash because I have three credit cards that pay cash rebates of different percentages (2%-5%) on gas, food, drug store purchases, etc and they run specials on other purchases from time to time.
If I feel the need to "pay" someone else for the use of "their" money, then I'll find the best bank for the job and hire them (get a loan) .. but if I feel that my money would best be suited to serve me directly, then I'll finance myself, free of charge.
I don't see any reason to pay someone else (via interest) to do, that of which I can do just as easily, or less expensively, myself.
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