Credit Card Rewards

[WildWestDesigns]

One segment was about the biggest single hacker ever identified. Over a million computers and bank accounts hacked over a 10 year period. I'm sure that without the FBI Cyber crime division and the help of the credit bureaus, he'd still be doing it.

You do realize that they also want mandated backdoors into computer systems? That would mean a perpetual back door into getting into people's systems. Oh but wait, no bad guys would ever be able to exploit that. Add to that this is "always connected" mentality that everyone is on, no bueno in my mind.

 

[TimToad]

And these same bureaus you defend completely F#$@^ED me, my wife and business. When everything you own, built, and have invested is one click away from disappearing you will see things far differently.
No way for you to spin that to make me think they're useful.

I'm "defending" the need in a credit heavy society to have safeguards in place to protect consumers, lenders, etc.

Your individual experience and the circumstances surrounding it does not negate the need for such protection and safeguards.

 

[rossmosh]

I'd stay away from Capital One. Despite being a corporation and it being a corporate card, they still reported back to my personal credit score.

We pay our bill in full every month, but this still made my credit score fluctuate quite a bit due to varying levels of utilization. It was very annoying.

We switched to Chase and get the same benefits without the other BS.

 

[2B]

I'd stay away from Capital One. Despite being a corporation and it being a corporate card, they still reported back to my personal credit score.

We pay our bill in full every month, but this still made my credit score fluctuate quite a bit due to varying levels of utilization. It was very annoying.

We switched to Chase and get the same benefits without the other BS.

Agree, Capital One is low on my preference list.
the only reason we still use it is that we have the Buy Power Card
https://www.buypowercard.com/

sure does help when a vehicle purchase is placed,

 

[White Haus]

Didn't you or your office manager notice the suspicious checks being cashed against your account?

We check our balances and look for suspicious activity on a daily basis. As checks are cashed, we can look at an image of the check.

It wouldn't take but one or two attempts for us to realize something was wrong and alert the bank and police.

Um yeah we noticed when the alarm company called and said there was a break in. We also monitor our bank feeds daily and were shocked to find out that banks were dumb enough to cash these fraudulent cheques even after we put a red flag on our account. Only once we shut the account down were we able to stop the bleeding.

We're just lucky they didn't mess with any of our computers or equipment, but still took months to recover from the break in.

 

[TheSnowman]

We normally average $2000-3000 a year in rewards.

 

[Johnny Best]

I have never checked the other credit cards I have but I do know AmEx does give an extra 1 year warranty on products you buy. I had purchased a TV from Best Buy and it went bad right after the store's one year warranty, called AmEx and they gave me the money to buy another one, just returned TV to Best Buy and received another one. Am Ex is also good when you leave the country to purchase things.

 

[Christian @ 2CT Media]

I have never checked the other credit cards I have but I do know AmEx does give an extra 1 year warranty on products you buy. I had purchased a TV from Best Buy and it went bad right after the store's one year warranty, called AmEx and they gave me the money to buy another one, just returned TV to Best Buy and received another one. Am Ex is also good when you leave the country to purchase things.

My problem with AmEx is the same as Pay Pal, they are card holder centric and make it very difficult to do business by making merchants jump through hoops. For the issues I've had accepting AmEx, I'll never hold one.

 

[unclebun]

My problem with AmEx is the same as Pay Pal, they are card holder centric and make it very difficult to do business by making merchants jump through hoops. For the issues I've had accepting AmEx, I'll never hold one.

I don't understand what you mean about hoops. When we started the business and set up our merchant account we checked a box for each of the cards we wanted to accept and that was it. We got MC, VIS, AX and DIS with no hoop jumping at all.

 

[Christian @ 2CT Media]

I don't understand what you mean about hoops. When we started the business and set up our merchant account we checked a box for each of the cards we wanted to accept and that was it. We got MC, VIS, AX and DIS with no hoop jumping at all.

We had a client who had large invoices $25,000+ and it has been a nightmare to the point we told them they can't pay by AmEX. We would constantly get the money held and we had to change our invoices to meet AmEX standards or submit all kinds of documentation proving the jobs were done and etc. Not worth my time to accept AmEX when they do that to us as a business.

 

[unclebun]

Hmmm. When I first started my own shop, probably in the second year, I sold a $22,000 sign with LED display and such, and they paid with American Express, 100% in advance. I just ran the card and AX paid it. That marina used me to make their trade show displays and a lot of there in store fixtures and signage, and we had their card on file to charge everything. Never had any extra work to get paid.

 

[equippaint]

We had a client who had large invoices $25,000+ and it has been a nightmare to the point we told them they can't pay by AmEX. We would constantly get the money held and we had to change our invoices to meet AmEX standards or submit all kinds of documentation proving the jobs were done and etc. Not worth my time to accept AmEX when they do that to us as a business.

For a $25k charge I could see that. Really, them going through all of this protects them, the seller and the buyer. The merchant services provider essentially extends credit to the business because you get the money before the time period of disputing the transaction expires. They withhold funds when you go over the credit limit that they established for the account.
I would never take a CC for this amount either and risk a dispute. Good business check from a known account or wire transfer.