Discover Card is KILLING ME!!!

[Swing low, sweet chariot. Comin' for to carry me home.]

and it doesn't include utilities

[Swing low, sweet chariot. Comin' for to carry me home.]

However, it would seem to me that one potential solution to the 12.5K cap would be to have your wife get a card in her own name.

a card in her own name?  yeah, only if I can use your name and address for billing purposes!  oh, and also, be sure to review the monthly statement and forward all questions to her...(I can get away with saying that - she doesn't read my posts)

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Another is to get a second card from another issuer that also offers a cash back reward.

I used to have a couple of other visa non-business card, but once the meltdown occured in late 2008, they sent me letters saying they were closing the account!!!

in fact, because of our current credit squeeze, a week ago I dug out our CapitalOne card which we hadn't used for a couple of years and called the number on the back and the account was closed - and I don't think I was the one who closed it.

So, yeah, looks like I going to be looking for an additional card.  I'd be up the creek if my client decided to send me on a trip (though I haven't had to travel for business purposes since 2007)

[opebo]

Dude if you're spending more than ten grand a month, your financial situation isn't totally dependent on driving an old car or brown bagging it - you quite simply are a high income person.   No amount of frugality can make the poor escape poverty.

Btw, I apologize if showing my baboon bum was offensive.  That post was a bit tongue in cheek (haha, get it, cheek), but I do sense you were bragging a bit.  And why not?  I was just teasing back - man's gotta expect that, no?

[Swing low, sweet chariot. Comin' for to carry me home.]

here's a good example of a company that wants to expand and hire, but can't due to lack of credit:

You must be logged in to read this quote.

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please read the whole article, it demonstrates how the credit markets are still frozen

[True Federalist (진정한 연방 주의자)]

However, it would seem to me that one potential solution to the 12.5K cap would be to have your wife get a card in her own name.

a card in her own name?  yeah, only if I can use your name and address for billing purposes!  oh, and also, be sure to review the monthly statement and forward all questions to her...(I can get away with saying that - she doesn't read my posts)

But then it wouldn't be in her name.  Since I don't want to risk breaking up a marriage, I won't ask for her picture and contact info to see if we would both be interested in her having my name.

Another is to get a second card from another issuer that also offers a cash back reward.

I used to have a couple of other visa non-business card, but once the meltdown occured in late 2008, they sent me letters saying they were closing the account!!!

in fact, because of our current credit squeeze, a week ago I dug out our CapitalOne card which we hadn't used for a couple of years and called the number on the back and the account was closed - and I don't think I was the one who closed it.

So, yeah, looks like I going to be looking for an additional card.

Yeah, I make certain I charge something for time to time on my backup card for precisely that reason.  Issuers tend to close inactive accounts even in the good times.


You've got quite a commute with all those gasoline expenses unless some convenience store munchies are part of that gasoline bill. (In which case that's one obvious area to save.) Good luck with the clothing expenses having four females in the family.  Without knowing all the details, it looks like depending on how expensive a restaurant you frequent, the family is dining out two to five times a week, assuming neither you or the wife eat breakfast or lunch at a restaurant.  Eating at home more often would be a way to save, even if it is just prepared stuff like Stouffer's or Birds Eye.  (From scratch would save even more money, but also cost more time, so I'd only recommend that if either you or the wife find cooking to be a pleasure.)

[Sam Spade]

This thread may set a new standard for Einzige idiocy.

I agree with Ernest that you have to get another card, but with the way lenders are now, good luck on getting large limits.

I've had mine cut back too though my credit record is sterling.

[Lunar]

, and 1 male(?) beta fish. 

I used to think you were bigoted until I found out you had a sexually confused fish you took under your wing.  Props man.

[I spent the winter writing songs about getting better]

Your credit limit is lower than mine now?

[Torie]

Well I have used credit cards for about 35 years now, use them as often as I can, and maybe over that time span have charged ... well, I guess it is none of anyone's business, but a lot, always pay off the entire balance every month, and have paid maybe about $15 in interest and late fees total over those 35 years (when a statement or two got buried in a pile of sh**t and I missed the deadline to pay a couple of times by accident; now the payments are deducted by electronic transfer from my account automatically every month at the last possible date that one can do so without a fee, so I will never be late again).

Why do I use credit cards as often as I can? Because 1) it's convenient (I don't have to carry cash around in large sums, and don't have to carry around a check book and go through the labor of drafting checks, 2) while it doesn't matter now with almost zero short term interest rates, when rates were a lot higher I got a short term interest free loan, and 3) the cards (with one exception) have a cash back feature. Regarding the cash back feature, I once bought online 60K (yes I have high credit limits) of savings bonds (I bonds when they carried a 3.4% or 3.6% coupon rate, to which is added the inflation rate, and as to which one pays no tax on the interest paid until they are cashed in 30 years hence)  with my credit card, and obtained a $600 credit for that one transaction on my credit card that month.

Right now I have four credit cards: 1) a "business" Chase Mastercard that gives me 5% cash back for restaurants and office supply places like Staples which I use solely for those vendors 2) a "personal" Chase Mastercard which gives me 5% cash back on gas, and 1% on everything else which I use domestically for everything but restaurants, office supply places and Costco, 3) an Amex card which I use solely at Costco because that is the only card they accept, that gives me 2% cash back at Costco, and 4) a Capital One card which I use internationally because that is the only card that does not charge a 2% to 3% fee for international transactions (plus using a credit card rather than cash gives you a better exchange rate).

So, I have to disagree with the concept that credit cards are financially imprudent or otherwise somehow bad. I don't hate credit cards; I love them!  

[Sam Spade]

Btw, Torie and jmcfst.  You're the types of persons using credit cards who are the most likely to get their limits cut, both now and in the near future.

Basically, you're not profitable.

[Torie]

Btw, Torie and jmcfst.  You're the types of persons using credit cards who are the most likely to get their limits cut, both now and in the near future.

Basically, you're not profitable.

That sucks. But I have not received a "dear John" letter yet. Hey, at least based on my history, I am a low credit risk, no?  And the card companies do get fees paid by the vendors, and they make more money off me than someone whose charges are $700 a month or something, and pays off the card on time every month, no?

[opebo]

Guy's don't be so stingy if you're getting cut out of the card game.. just let a few balances carry over for a few months now and again.  Its well worth it to give back part of your wind fall for the convenience etc.

[memphis]

Looking at that pie graph from Discover, I believe jmfcst is married to Imelda Marcos.

[opebo]

Looking at that pie graph from Discover, I believe jmfcst is married to Imelda Marcos.

Let's not blame the little woman - perhaps jmfcst is the Imelda Marcos of the pair.  Although, in fairness, if the Better Half has to put up with this tightly wound religious fanatic day in day out, she bloody well deserves a few thousands worth of shoes and frocks.  And jewels, lots of exurban-style jewlry..

[King]

I have a suspicion the pets are killing you the most.  If you buy your supplies for the pets at a Petco or similar, I recommend going through your bill and compiling all the pet expenses.  I imagine they make up a large share of "merchandise." 

If worst comes to worst, you might have to get rid of some of them.

A government run health care program and eating out less could also save.  But that's a difficult task with 4 children.

[Swing low, sweet chariot. Comin' for to carry me home.]

Looking at that pie graph from Discover, I believe jmfcst is married to Imelda Marcos.

no, she dresses pretty modestly.  Discover Card has a very broad definition of "Merchandise".  It's not extravagant shopping, rather it is just basic odds and ends...here's a snap shot of the last couple of weeks that feel under the category of "Merchandise":

1/27/2010   CLAIRES # 6253 MAGNOLIA TX    $58.01
      
1/27/2010   PETSMART INC 1765 MAGNOLIA TX     $41.43
      
1/27/2010   WALGREENS #6864 MAGNOLIA TX    $12.72
      
1/28/2010   ABERCROMBIE T W TX    $24.14
      
1/28/2010   CARLTON CARDS #0579 THE WOODLANDSTX    $9.82
      
1/31/2010   ACADEMY SPORTS #31 TOMBALL TX    $43.29
      
2/2/2010   AEROPOSTALE.COM 877-289-2376 PA    $21.62
      
2/3/2010   APL*ITUNES 866-712-7753 CA 14970779    $3.23
      
2/5/2010   JILLY BEAN ACCESSORIES MAGNOLIA TX    $79.97
      
2/5/2010   TOYS 'R' US THE WOODLANDSTX    $25.96
      
2/8/2010   PETSMART INC 1765 MAGNOLIA TX     $32.92
      
2/8/2010   WALGREENS #3233 TOMBALL TX    $69.26
      
2/9/2010   WWW.NEWEGG.COM 800-390-1119 CA 34877450    $132.98
      
2/10/2010   WAL-MART SC - #3390 THE WOODLANDSTX CASHOVER $ 40.00 PURCHASES $ 16.24    $56.24
      
2/10/2010   WAL-MART SC - #3390 THE WOODLANDSTX    $91.93
      
2/10/2010   WALGREENS #6864 MAGNOLIA TX    $12.18
      
2/11/2010   AMAZON MKTPLACE PMTS AMZN.COM/BILLWA LIC7V1PQ3AW    $14.97
      
2/11/2010   RESERVATIONREWARDS.COM 800-732-7031 CT    $12.00
      
2/12/2010   CREATIVE CHRISTIANS MAGNOLIA TX    $8.49
      
2/12/2010   CREATIVE CHRISTIANS MAGNOLIA TX    $74.36
      
2/12/2010   TARGET MAGNOLIA TX    $279.71
      
2/14/2010   OFFICEMAX, INC 1409 MAGNOLIA TX    $78.67
      
2/14/2010   OFFICEMAX, INC 1409 MAGNOLIA TX    $135.46
      
2/14/2010   TARGET MAGNOLIA TX    $100.87

[King]

Petsmart and Creative Christians.  There's the source of your poverty.

[Swing low, sweet chariot. Comin' for to carry me home.]

Petsmart and Creative Christians.  There's the source of your poverty.

how much can two mini-wiener dogs and one cat eat?

and the Creatvie Christians was a one time stop...my son and I stopped in because it was next door to the Chinese place we were eating in prior to taking him to meet his Scrabble buddies.  He found a $9 book he wanted and I bought my wife a $75 charm bracelet for Valentines’ Day, which was all I got her (no card, no roses, no chocolate, no dinner out).

Most of the stuff bought at Target and Walmart was probably food and household items.  The ToyRUs purchase was because I stopped in and bought 2 Rubik's cubes because my 8 year old daughter is building a cube solver with a Lego Mindstorms kit.  The NewEgg purchases were made by me for my computer.  The $210 OfficeMax purchase was a computer desk and two desk chairs – we’re giving my 8 year old a computer in her room for her birthday that’s coming up in a week.

We're not buying expensive stuff …we're just really not watching what we're spending and it adds up in a hurry.  

[King]

Petsmart and Creative Christians.  There's the source of your poverty.

how much can two mini-wiener dogs and one cat eat?

You'd be surprised.  I'd still add up all the pet purchases and see how much you budget for them. 

[True Federalist (진정한 연방 주의자)]

Creative Christians was a one time stop...my son and I stopped in because it was next door to the Chinese place we were eating in prior to taking him to meet his Scrabble buddies.  He found a $9 book he wanted and I bought my wife a $75 charm bracelet for Valentines’ Day, which was all I got her (no card, no roses, no chocolate, no dinner out).

I'd have skipped the Chinese place and splurged on the dinner myself.  Replacing casual eating out with in-home meals is the quickest way to save some money.  However, taking a kid to play Scrabble boggles the mind.  Are there no kids in your neighborhood that he's friends with?

We're not buying expensive stuff …we're just really not watching what we're spending and it adds up in a hurry.

Are you certain you're not the Federal Government?   Seriously tho, it's the little things that bust budgets, as you're unfortunately noticing.

[Swing low, sweet chariot. Comin' for to carry me home.]

Creative Christians was a one time stop...my son and I stopped in because it was next door to the Chinese place we were eating in prior to taking him to meet his Scrabble buddies.  He found a $9 book he wanted and I bought my wife a $75 charm bracelet for Valentines’ Day, which was all I got her (no card, no roses, no chocolate, no dinner out).

I'd have skipped the Chinese place and splurged on the dinner myself.  Replacing casual eating out with in-home meals is the quickest way to save some money.  However, taking a kid to play Scrabble boggles the mind.  Are there no kids in your neighborhood that he's friends with?

we didn't have time to go home, his Scrabble meeting was right after church.  He's one of the best Scrabble players in the country for his age (6th grade) and he has to travel around Houston and play adults in order to find competition.

What costs a lot of money is having kids in activities - it comes with a lot of added costs like having to eat out because of not having time to go home and cook a meal.

[memphis]

You don't think paying off your balance every month makes you a desirable customer, do you?  Discover sees you as a freeloader. They're not dumb.

[True Federalist (진정한 연방 주의자)]

we didn't have time to go home, his Scrabble meeting was right after church.  He's one of the best Scrabble players in the country for his age (6th grade) and he has to travel around Houston and play adults in order to find competition.

Makes a little more sense with the added details, and he probably enjoyed it, but spending money (on transportation and eating out) to play competitive Scrabble is hardly frugal.

What costs a lot of money is having kids in activities - it comes with a lot of added costs like having to eat out because of not having time to go home and cook a meal.

Agreed, kids are expensive, but frankly I think kids generally spend too much time (and parents too much time and money) on organized activities these days. Other than the fact that I never got an MLB contract, I can't say I suffered as a child from playing whiffleball in a vacant lot with the neighborhood kids instead of a more organized form of the sport.  How many different activities do you have to take your kids to?  Cutting back on those might be one way to save money.

[Grumpier Than Uncle Joe]

Btw, Torie and jmcfst.  You're the types of persons using credit cards who are the most likely to get their limits cut, both now and in the near future.

Basically, you're not profitable.

That sucks. But I have not received a "dear John" letter yet. Hey, at least based on my history, I am a low credit risk, no?  And the card companies do get fees paid by the vendors, and they make more money off me than someone whose charges are $700 a month or something, and pays off the card on time every month, no?

Actually, Torie,  you're a credit card company's nightmare.  They can't make any money on you

[Swing low, sweet chariot. Comin' for to carry me home.]

Btw, Torie and jmcfst.  You're the types of persons using credit cards who are the most likely to get their limits cut, both now and in the near future.

Basically, you're not profitable.

That sucks. But I have not received a "dear John" letter yet. Hey, at least based on my history, I am a low credit risk, no?  And the card companies do get fees paid by the vendors, and they make more money off me than someone whose charges are $700 a month or something, and pays off the card on time every month, no?

Actually, Torie,  you're a credit card company's nightmare.  They can't make any money on you

but don't they still get a portion (1-2%) of every purchase I make?