re:last post ? cc used for farm purchases

[Hopalong]

Wonder why so many want to use credit cards.
Think it is smart marketing by financial institutions and others who encourage their use.
Better to plan and manage cash flow so a business does not rely too much on short term credit.

[Guest]

always pre pay , have never paid 1 cent of interest . this falls year end purchases gave $5k same as cash or trips , whatever you want .and we're not big farmers . all it costs is $135 /yr to keep card. I don't see any independents that look like they have their backs against the wall , lol . can't understand why they'd bitch about card use

[agchat]

We use ours because if it is the same price we get a bit of cash back. You gotta watch though, if you get four percent on fuel, the place has to be registered for fuel. I know coop bulk is registered under ag, so it does not apply. Same as groceries, you buy if its at walmart, they are registered has a retail so no four percent there. However Sobeys, and COOP grocery stores do apply.

[agchat]

Oh ya, if anyone knows of a card that does not have a cap if they are paying more than one percent, let me know please. I have not found any.

[Guest]

never heard if 4 % ,but credit union world elite has no cap on points , really good card, 2 % on all purch back ,$130-150 admin each year

[Hopalong]

Loyalty programs and free trips part of smart marketing. Must pay or why else would they be there?

[Hopalong]

Like other forms of smart marketing, plays on customer ignorance and financial weakness.
Not dishonest but morally questionable.

[LEP]

Hopalong, I think you are missing the point. I buy everything on credit card that I can. We even buy groceries.

Not because we need the credit. I haven't carried a balance on a credit card since 1986.

I have 2,000,000 air miles. Use them for a trip or two a year. I see nothing unethical about using my card for as much as I can. If two retailers offer fert at the same price but only one takes a card guess who I buy from?

[farmaholic]

I'm like you LEP and I also use a world elite CU MC with a higher annual fee but has double the points of a more basic card. The extra points and unlimited use more than makes up for the higher annual fee. I haven't paid a cent of interest on a balance....ever. I manage it. I too don't need the credit. And if there is no upcharge on the regular purchase price of things.....I'd be foolish not to "ab"use the card.

I've never been charged less when paying with a debit card/cash versus a CC. UNTIL they start differentiating, I will continue to use it for as much as possible. There are so few perks
farming....sometimes you have to create your own

[Guest]

Thx lep and farma , that's the point I was trying to make ! I doubt that any farmers are runnin up interest on their credit cards ? like you say , one of the few perks . lotsa guys don't get it ? some don't believe you can get something for nothing ? thier loss , I guess?....

[fjlip]

Scotia Bank VISA is back with GM points to redeem on GM vehicles only of course.
5% on first $10000 per year, 2% after that. No maximum, redeem all you want per vehicle.
Used PCMC MC for years on all purchases possible. Coop. Pioneer repairs.