WTF Costco and Credit Cards... (pole included) (SRS $ talk) (no homo)

Discussion in 'The Howard Stern Show' started by DrivenByDemons, Jun 26, 2016.

?

Get the card?

  1. Yes

  2. No

  3. Ryan Lever would buy a t-shirt that had "Costco and Credit Cards" in graffiti on the front.

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  1. DrivenByDemons

    DrivenByDemons Spinoff Jesus Staff Member

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    I have one credit card. Same one I've had since I was a teenager. Pay it off every month. I went on the big 3 credit sites and froze my credit a while back so nobody can open new accounts in my name. My only real debt is my mortgage. Now I get this flyer from Costco offering me a Citi Visa card with 4% back on fuel, 3% on some other shit, 2% at Costco, and 1% on everything else. It also becomes my membership card. It also has some extended warranty and damage and theft protection bullshit. I feel like it's a waste of time getting this fucking thing but then again I get a bunch of free shit for free. Do I bother or not? :dontknow: I'd have to unfreeze my credit for this stupid thing. Plus doesn't your score go down when you open new accounts? I'm over 800 and want to keep it that way.
     
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  2. Gwarn1

    Gwarn1 Worlds poorest sugar daddy VIP

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    [​IMG]
     
  3. gwartney

    gwartney Unafilliated Gold

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    Costco is switching from American Express to Visa. That's why they are doing the big push. I have it because of the cash back for costco purchases. It pays for my membership each year. Plus, I believe it doubles your warranty on electronics, which I buy a lot of at Costco. I've never had to use the warranty but it sounds good. The fact that it pays for my membership is good enough for me. As far as affecting your credit, I don't honestly know. I don't check my credit that often but it would be pretty bad if one credit card caused it to change.
     
  4. DrivenByDemons

    DrivenByDemons Spinoff Jesus Staff Member

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    I already do the premier membership and always get a check back from them that covers my yearly cost. This would be a bonus on top of that. :bigthink
     
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  5. DrivenByDemons

    DrivenByDemons Spinoff Jesus Staff Member

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  6. gwartney

    gwartney Unafilliated Gold

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    You're right. I was thinking it was tied in with the CC. The warranty is the only thing that I get out of it then and I already stated I've never used it. I'm like you and don't carry any cc debt so I use an airline card most of the time just to get the air miles. I'm going to have to think about it now.
     
  7. DrivenByDemons

    DrivenByDemons Spinoff Jesus Staff Member

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    Me too buddy. Me too.... we should sit around the hookah and figure this out.
     
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  8. SouthernListen

    SouthernListen I don't follow the crowd. Sorry about that. VIP

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    I froze mine a while back too. I've had my card number stolen a couple of times since but they could never charge anything w/o my company notifiying me and thankfully couldn't open more credit up in my name. So wise move there.

    Yes, it is something of a pain to unfreeze it and then refreeze it later, but it should be free if you go to their websites and follow their instructions on it. Try ClarkHoward.com and search how to do it there, it's been a while and I've forgotten.

    The bonus points really add up. However, be sure and check

    1. Is there a dollar limit on how much you can collect before it maxes out? Some are pretty low. I got a recent notice that I get 5% off home improvement stores that maxed out after I spent just $1500. So it was another 4%, or $60. BFD.

    2. Do these percentages last or are they introductory to get you to use the card? Sometimes they'll stop it after a year. I have a 5% cashback on gas Amex business card and I used a shitload of gas. Most of the others would keep dropping the bonus eventually.

    3. Is there an annual fee? Some big bonus cards have big fees. I doubt Costco does, but they make take it in the form of the annual membership cost.

    4. Fico scores are a mix of things. If you have good credit it won't matter much. It's actually better to have two cards in some circumstances, depending on your credit line. Any time you go over (I think) half your credit line on a single card, it dings you a little. So it's better to spend $3,000 on two $5,000 cards than one $5,000 card. Length of time with a card is a postiive, so don't cancel any old ones. But if your credit line with the old card is ridiculously high and you never plan on using that, you can ask that they lower it. Just make sure the line is double what you'll ever use, or it could lower your rating if you ran a card up one month to near its max.

    5. It's always a good idea to have at least two cards with you. If you're traveling and one gets lost or they have to close the line because of fraud, you're not stuck w/o a card. Banks also can see your other credit and will probably treat you better if you're not dependent on them. I had a situation where I stopped using a card because they didn't stand behind a chargeback on a fraudulent charge. They noticed my monthly charges went to zero and contacted me. I told them I was pissed and they issued me a "goodwill credit". If I had kept charging on that card they never would have cared.

    6. Finally, how much do you charge and what will the cashback total up to? If you run a business on the card it can be quite nice. But if you spend the normal amount on gas and costco stuff it might not even be $200 a year. You'd have to decide if it's worth the hassle.
     
  9. SouthernListen

    SouthernListen I don't follow the crowd. Sorry about that. VIP

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    Funny thing about Costco. I moved into a new house but some Costco member had given my address as his business address. For a few years I kept getting his bonus checks from Costco and it's about $200 in total. I tried to look him up but couldn't find the business or person. I called Costco to tell them and they didn't do anything. I then asked them if the bonuses could be used by any member, and they said yes. Just has to be at the store itself. They're probably expired by now, as I rarely go there. I order online if I need anything.
     
  10. YinzerMasshole

    YinzerMasshole VIP Extreme Gold

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    They're still taking debit cards, right? Because the idea of my wife with a Visa card in Costco terrifies me.
     
  11. DrivenByDemons

    DrivenByDemons Spinoff Jesus Staff Member

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    Good points. I'm mostly lazy and don't want to unfreeze and also want to keep my great score. I'll be buying a new vehicle one of these days and if rates keep dropping may even re-fi. I have homework to do.
     
  12. Danas Boyfrien

    Danas Boyfrien Trump's African American Gold

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    If your only credit card is one you got as a teenager you're not going to earn diddly squat in rewards with the Costco card.
     
  13. lovetalkradio

    lovetalkradio Well-Known Member

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    Right. 4%? If you spent $500 a year, it's less than 50 bucks a yr. BFD.
     
  14. lovetalkradio

    lovetalkradio Well-Known Member

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    They say it's any VISA they take.
     
  15. DrivenByDemons

    DrivenByDemons Spinoff Jesus Staff Member

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    It's also less than $25 :grad:
     
  16. lovetalkradio

    lovetalkradio Well-Known Member

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    That also means debit VISA too.
     
  17. lovetalkradio

    lovetalkradio Well-Known Member

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    Right. I said UNDER $50.
     
  18. DrivenByDemons

    DrivenByDemons Spinoff Jesus Staff Member

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    It's also less than $100 :grad:
     
  19. DrivenByDemons

    DrivenByDemons Spinoff Jesus Staff Member

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    Fuck it. $50 is $50. I think I'll do it tomorrow. Plus I only need one card to go there then. I'm more excited that it serves as the membership card I think :facepalm:
     
  20. lovetalkradio

    lovetalkradio Well-Known Member

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    I wonder why you are getting the card NOW that the changeover has already
    happened. I have yet to get a damn thing. Then I heard yesterday that they
    we're suppose to send you out a new card automatically. My guess would be
    use/get a VISA miles as that/those would get you the most in return. I use
    a lot of Costco for gas and this whole thing is a big pain in the ass.