On 06/05/2011 11:30 AM, Ralph Mowery wrote:
wrote in message
...

"Ralph wrote in message
...
I don't know the numbers today,but read an artical about 10 years ago
where Sears actually made about 10 times the profit off the credit cards
than they did off the murchendise.

Not sure of the rates as I do not use that card, but it is probabaly 20
to 24 % now. That is a lot of profit.

Only idiots carry a balance. If you use a cash-back card and pay it in
full every month the card issuer will pay YOU instead of you paying them.
I make about $700 a year just by charging everything and I've never paid a
dime in interest.


I agree with that, and have a card that I get cash back also. Started
charging almost everything to that card just because of the cash back deal.

However there are millions of idiots in the US. Most of them do carry a
balance.

Just took out a credit card at Sams Club because they had a deal if you get
a card, you get so much money back that day.
Probably will never use it again.



Idiots or broke people. I carried a balance through college because I
didn't have enough/make enough money to pay for my books. Whether I
made the right decision or not I dunno. Was having this discussion last
night. I think my life would have been better if I'd either gone to a
state school or trade school instead of the expensive engineering
school, because the degree really just got me in the door at interviews
and all the good jobs I've had I was unqualified for when I started, and
both I and the interviewer knew it (but I talked my way in anyway, e.g.
"I'm smart and a fast learner, and am willing to learn and work hard")

nate

--
replace "roosters" with "cox" to reply.
http://members.cox.net/njnagel