Why would B&H promote this??

Started 2 months ago | Discussions thread
Doug J Forum Pro • Posts: 10,236
Re: Why would B&H promote this??

WunWegWunDarWun wrote:

Doug J wrote:

WunWegWunDarWun wrote:

Doug J wrote:

WunWegWunDarWun wrote:

Doug J wrote:

Black Elk wrote:

If you are gullible enough to buy in to this then go for it. Trust me, the folks at B&H are very astute, savvy business people and know exactly what they are doing. The credit card company also knows what they are doing. There is no risk at their end and the buyer assumes all of the risk. I do cash only on all of my purchases and paying sales tax is minor compared to the potential results of getting yourself in to a interest rate such as this. Just a thought.

Alternatively, use the card(s), reap the benefits and pay off the total balance when the monthly statement arrives. I've done this for years and have never paid interest. Can't afford to pay off the balance? Don't make the purchase to begin with.

Cheers,
Doug

I guess, but ever thought why these things can't be automatically linked to your checking account to be deducted debit-style the moment they are incurred if you have the funds ?

I have this option with a couple of accounts, but do not want anyone, anywhere to have the ability to reach into my account and take funds. I want to initiate the transaction. It's easy enough to pay bills electronically from my bank account each month.

Cheers,
Doug

Do you have this option with credit cards that were not issued by your own bank ?

Whether they do or do not offer this option is irrelevant as I do not have auto payment setup with any accounts, credit card or otherwise, nor will I enable it.

Cheers,
Doug

I'm not saying you should, but generally the higher the APR on the credit the less incentives the CC company has to have its balances extinguished early - would you feel differently if every transaction had to be approved in real time via text or such ?

Naturally it's in the issuing bank's interest for customers to maintain a balance. I still would not authorize automatic deductions. I review each transaction on statements to ensure there is no fraud, suspicious activity, erroneous charges and any expected credits are applied.

I also do banking & bill paying online so there is no risk of a check being lost in the mail,  someone keying a transaction into the wrong account, excessive delays, etc.

Cheers,
Doug

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tko
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