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10-10-2005, 11:01 PM
You guys believe the kind of crap they get away with? "Now when you spend, you save."?

Apparently with this card, they take 1% of what you spend and put it into a "high-yield" saving account. What...3% return per year?

So you spend $100, at say 16% APR, they take $1 out and it you make like 3 cents at the end of the year? Yet, you pay $16 in interest, so it's basically like getting a 15% credit card instead of a 16% card?

Do people really think you can spend money and save at the same time? It's like those furniture salesmen who say "We've slashed prices... the more you buy, the more you save!" No... no, not at all.
[censored]
10-10-2005, 11:04 PM
right but they could be smart and pay the balance off at the end of month, pay no interest and make the 3& plus the 1% of what they spend.

Seems like a very good deal to me.
GuyOnTilt
10-10-2005, 11:06 PM
You mean they're still MAKING MONEY on this deal?! What a bunch of low life scammers.

GoT
10-10-2005, 11:23 PM
Yes, but how many American's are this disciplined?

Answer: Less than 1 one-hundredth, and if they miss a payment, then it's negated anyway.
[censored]
10-10-2005, 11:32 PM
[ QUOTE ]
Yes, but how many American's are this disciplined?

Answer: Less than 1 one-hundredth, and if they miss a payment, then it's negated anyway.

[/ QUOTE ]

But even those people are still better off then they were before this program. How can you not see that?
Cancer Merchant
10-10-2005, 11:38 PM
[ QUOTE ]
Yes, but how many American's are this disciplined?

Answer: Less than 1 one-hundredth, and if they miss a payment, then it's negated anyway.

[/ QUOTE ]

There are plenty of disciplined "American's" (sic) that could take advantage of this. How all-incompassing of a nanny state do you want?
Matt Flynn
10-10-2005, 11:44 PM
the stupid ones are the business owners. american express charges businesses a lot more for transactions than even the usurious visa and mastercard - 3% if you suck at negotiating. my strategy was to laugh at them.

the 1-1.5% typical transaction cost for visa is just distributed monopoly usury. visa and the banks make so much they collectively won't allow anything else. the gov't should've broken that hammerlock a long time ago.
BusterStacks
10-10-2005, 11:47 PM
You're supposed to pay off an American Express card every month anyway. You're a fool for having one if you don't.
10-11-2005, 12:29 AM
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You're supposed to pay off an American Express card every month anyway.

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Not true for Blue or One cards.
10-11-2005, 12:40 AM
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...There are plenty of disciplined "American's" (sic) that could take advantage of this. How all-encompassing of a nanny state do you want?


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FYP
plaster8
10-11-2005, 04:25 AM
[ QUOTE ]
[ QUOTE ]

...There are plenty of disciplined "American's" (sic) that could take advantage of this. How all-encompassing of a nanny state do you want?


[/ QUOTE ]

FYP

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Personally, I would have gone with another "(sic)," but nice work.
Tron
10-11-2005, 04:26 AM
[ QUOTE ]
[ QUOTE ]
You're supposed to pay off an American Express card every month anyway.

[/ QUOTE ]

Not true for Blue or One cards.

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Are they credit cards? Then I'm pretty sure it is true.
RunDownHouse
10-11-2005, 09:42 AM
[ QUOTE ]
Yes, but how many American's are this disciplined?

Answer: Less than 1 one-hundredth, and if they miss a payment, then it's negated anyway.

[/ QUOTE ]
So American Express is supposed forego profits because there are idiots out there with no sense of fiscal responsibility?
Warik
10-11-2005, 11:24 AM
[ QUOTE ]
Apparently with this card, they take 1% of what you spend and put it into a "high-yield" saving account. What...3% return per year?

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omg, that's terrible. They're taking money you wouldn't have anyway with a regular credit card and making you MORE. Damn them!

However, I wouldn't go for this deal. Blue Cash is FAR superior, plus there is no annual fee. At 3.15% APY, you'd need to have $35 / 0.0315 = $1,111 in the account, which means you'd have to spend $111,111 on the card before the interest account will start making you enough money to negate the annual fee.

As I said, Blue Cash is FAR superior.

No annual fee. Online Fraud Protection. Return Protection. Buyer's Assurance . Purchase Protection Plan.

You get 0.5% cashback on purchase up to $6,500 and 1.5% on everything therefter.

Spend $1,000 per month for 12 months under the Blue Cash and you've got (6500 x.005) + (5500 x0.015) = $115.00 at the end of the year.

When you factor in the annual fee on the One card, you're getting hosed.
BottlesOf
10-11-2005, 12:04 PM
IMO Blue Cash is the second best cash rewards card out there, behind ctibibank's dividend platinum select.
10-11-2005, 12:24 PM
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There are plenty of disciplined "American's" (sic) that could take advantage of this. How all-incompassing of a nanny state do you want?

[/ QUOTE ]

It's Encompassing, you nit.
10-11-2005, 03:21 PM
[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
You're supposed to pay off an American Express card every month anyway.

[/ QUOTE ]

Not true for Blue or One cards.

[/ QUOTE ]

Are they credit cards? Then I'm pretty sure it is true.

[/ QUOTE ]

Why?