Kroger Grocery Unit [Foods Co subsidiary in CA] to Ban Visa Credit Cards

[rickandcindy23]

You remind me of the guy that comes home with a new suit, having convinced himself that he saved $1000.

He didn’t save money, he spent money

Here what I know. These points of yours are part of the fees chase charges the merchants when you use your card. And those fees are paid by the merchants with money you paid them for overpriced goods and services It’s your money.

it’s a game I’ve chosen not to play. I haven’t worn a suit in 20 years. So This year I didn’t spend $15000 on new suits And I left the $15000 in the bank. That’s how I save money not by spending it

But that’s me. I’m not trying to convince anyone to live like I do. Ours is a consumer based economy. By all means spend.

I used to be clueless about all of this too. You just need to study some websites like The Points Guy and Million Mile Secrets.

I don't pay any more money for my MF's by paying them with credit cards. It's amazing. No one adds 1-3% to my purchases. I pay Wyndham and Vistana with my credit card and get 3X points. Those charges translate to around 300K points (yes, I own a lot of both of those). That 300K points =$450 in travel booked directly through the UR portal with Chase.

Why do I have a feeling you are just egging us on, Ron? Is this going to be another one of those discussions where you keep arguing when you already know you are arguing on a side you don't even believe in?

 

[rickandcindy23]

Ken555--

You have the money and finance issue right.

So why do you get baseball so wrong?

That is funny! Apparently you disagree on baseball.

 

[Ken555]

Ken555--

You have the money and finance issue right.

So why do you get baseball so wrong?

We can’t all be perfect!


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[Ken555]

Right, they are cutting off their nose. I don't spend enough now to make Kroger (King Soopers) worth much to me, and if they take away my ability to use my credit card, I just don't carry a checkbook anymore.

Chase used to have a Mastercard that Rick had for years, and it was called Chase Ink Bold, but they decided to change that card to another Visa, but it has the same benefits of the MC. I have Visa cards only, and if I need to shop, I am going to go where they will take my cards in my wallet. Rick has the Starwood Amex to use, but that is the only one that is not a Visa.

I learned a long time ago it’s good to have variety in all things. I’ve got AMEX, Visa, MC, and Discover. I have my go to cards but if I’m somewhere where they won’t take it, it’s not a problem. The payment choice shouldn’t influence my purchasing decision, but it seems you believe otherwise.


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[rickandcindy23]

The payment choice shouldn’t influence my purchasing decision, but it seems you believe otherwise.

I personally don't have anything but Visa cards at this point. I think one of Rick's is MC and he has the Amex SPG. I have nothing else, so if I get to the store and they cannot take my cards. No checkbook, no cash, either. I will be sunk.

Maybe I need to get a debit Visa.

 

[VacationForever]

No checkbook, no cash, either. I will be sunk.

Skunked.

 

[Ken555]

I personally don't have anything but Visa cards at this point. I think one of Rick's is MC and he has the Amex SPG. I have nothing else, so if I get to the store and they cannot take my cards. No checkbook, no cash, either. I will be sunk.

Maybe I need to get a debit Visa.

Seems like you should get anything else... MC, AMEX, Discover...why get another Visa? That doesn’t make sense.


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[SmithOp]

It was just at the end of May, while figuring out how to pay my DWP bill when we were gone for three weeks during which time the bill was both calculated and then due, that I discovered that I could set up auto pay with a credit card. At a minimum of $500 every other month, that's a nice chunk for credit card rewards.

I have all my bills on auto-pay to credit cards, then the credit cards are set for deduct full balance from my credit union checking account every month. All my income streams are direct deposit.

My financial life is all on auto-pilot. Just think of all the time we wasted going to the bank to deposit, writing checks and licking stamps in the old days.

I don’t keep any receipts either! My credit cards are all set to text me every transaction.


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[ronparise]

I used to be clueless about all of this too. You just need to study some websites like The Points Guy and Million Mile Secrets.

I don't pay any more money for my MF's by paying them with credit cards. It's amazing. No one adds 1-3% to my purchases. I pay Wyndham and Vistana with my credit card and get 3X points. Those charges translate to around 300K points (yes, I own a lot of both of those). That 300K points =$450 in travel booked directly through the UR portal with Chase.

Why do I have a feeling you are just egging us on, Ron? Is this going to be another one of those discussions where you keep arguing when you already know you are arguing on a side you don't even believe in?

Just the opposite. It’s an argument I absolutely believe in but I can’t win.

If you make $15000 a year with your points, good for you. And if it’s money I’m leaving in the table. So be it. I’m still not going to play

 

[clifffaith]

I have all my bills on auto-pay to credit cards, then the credit cards are set for deduct full balance from my credit union checking account every month. All my income streams are direct deposit.

My financial life is all on auto-pilot. Just think of all the time we wasted going to the bank to deposit, writing checks and licking stamps in the old days.

I don’t keep any receipts either! My credit cards are all set to text me every transaction.


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Re: Receipts. I have what I refer to as my "*bleep* pile". It is a clear acrylic holder that was meant to keep magazines in a contained flat pile in a waiting room. Every bank statement, credit card statement, piece of paper I don't think I should throw away yet, goes in it. At the end of the year I turn it over on my desk, retrieve bank statements and major credit card statements and wrap a rubber band around those and toss them in a drawer, and trash the rest. Except at the end of last year for the first time I didn't do that, and by now the pile is just starting to over flow the top of the holder. I wrote a big note that stays on top telling anyone who happens to come across it in an emergency that there is nothing that needs to be handled in the pile.

 

[Brett]

You remind me of the guy that comes home with a new suit, having convinced himself that he saved $1000.

He didn’t save money, he spent money

Here what I know. These points of yours are part of the fees chase charges the merchants when you use your card. And those fees are paid by the merchants with money you paid them for overpriced goods and services It’s your money.
it’s a game I’ve chosen not to play. I haven’t worn a suit in 20 years. So This year I didn’t spend $15000 on new suits And I left the $15000 in the bank. That’s how I save money not by spending it

But that’s me. I’m not trying to convince anyone to live like I do. Ours is a consumer based economy. By all means spend.

actually the 'cash back' fees are a marketing expense of the credit card company irrespective of how you think the merchant pays for the transaction. If you use credit cards and don't take advantage of these rewards programs you're leaving money on the table.

 

[rickandcindy23]

actually the 'cash back' fees are a marketing expense of the credit card company irrespective of how you think the merchant pays for the transaction. If you use credit cards and don't take advantage of these rewards programs you're leaving money on the table.

Great way to look at it. Much better explanation for Ron's current argument.

Ron probably knows all of this and just wants to start a debate. He is the only one debating on his side.

 

[Ken555]

Re: Receipts. I have what I refer to as my "*bleep* pile". It is a clear acrylic holder that was meant to keep magazines in a contained flat pile in a waiting room. Every bank statement, credit card statement, piece of paper I don't think I should throw away yet, goes in it. At the end of the year I turn it over on my desk, retrieve bank statements and major credit card statements and wrap a rubber band around those and toss them in a drawer, and trash the rest. Except at the end of last year for the first time I didn't do that, and by now the pile is just starting to over flow the top of the holder. I wrote a big note that stays on top telling anyone who happens to come across it in an emergency that there is nothing that needs to be handled in the pile.

Why keep paper at all? I don't receive any bank or credit card statements via mail and I don't take any paper credit card receipts. Instead, I download bank and credit card statements and I use my phone to scan (using the camera) anything I sign which automatically uploads to Evernote. This is fully searchable, auto syncs to my computer, and I'm done. There are free versions of this program and others that do similar functions, though the paid upgrade is often worthwhile (in this case it allows searching within images, so I can find every single charge at a local restaurant in a few seconds rather than hunt through paper receipts or look at my accounting for past charges).

It's so simple anyone can do this.


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[clifffaith]

Why keep paper at all? I don't receive any bank or credit card statements via mail and I don't take any paper credit card receipts. Instead, I download bank and credit card statements and I use my phone to scan (using the camera) anything I sign which automatically uploads to Evernote. This is fully searchable, auto syncs to my computer, and I'm done. There are free versions of this program and others that do similar functions, though the paid upgrade is often worthwhile (in this case it allows searching within images, so I can find every single charge at a local restaurant in a few seconds rather than hunt through paper receipts or look at my accounting for past charges).

It's so simple anyone can do this.


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Um, I still have a flip phone!

 

[ronparise]

actually the 'cash back' fees are a marketing expense of the credit card company irrespective of how you think the merchant pays for the transaction. If you use credit cards and don't take advantage of these rewards programs you're leaving money on the table.

You are the master of the obvious.

I know I’m leaving money on the table. I’m not stupid.

I just don’t like the game

For example


I recent flew American Airlines and part of the flight was devoted to a pitch for the American Airlines branded Barclays Bank credit card. So my wife and I both now have new Visa cards. And all we have to do is pay the annual fee (choke) and make one purchase and as if by magic 50000 AA points will be deposited to an account somewhere

Then what????

 

[Brett]

You are the master of the obvious.

I know I’m leaving money on the table. I’m not stupid.

I just don’t like the game

For example
I recent flew American Airlines and part of the flight was devoted to a pitch for the American Airlines branded Barclays Bank credit card. So my wife and I both now have new Visa cards. And all we have to do is pay the annual fee (choke) and make one purchase and as if by magic 50000 AA points will be deposited to an account somewhere

Then what????

I don't know and I don't care, if you got a discounted airline ticket and are satisfied, that's great

All I'm saying is the current credit card rewards offers that are not tied to anything, not "branded" and don't have annual fees will give a cash back (1.75%) for simply using the card - e.g. Capital One "Quicksilver". And you can use it for a lot of things other than groceries - paying homeowners insurance, airline tickets, medical expenses, timeshares, etc

 

[Ken555]

It's time to stop feeding the troll.


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[ronparise]

I don't know and I don't care, if you got a discounted airline ticket and are satisfied, that's great

All I'm saying is the current credit card rewards offers that are not tied to anything, not "branded" and don't have annual fees will give a cash back (1.75%) for simply using the card - e.g. Capital One "Quicksilver". And you can use it for a lot of things other than groceries - paying homeowners insurance, airline tickets, medical expenses, timeshares, etc

I understand how the cash cards work

I use a Costco branded citi bank Visa card for almost all my purchases. (My pool guy and lawn guy get the only two checks I write every month) and I get a cash credit every year that I redeem at Costco




I haven’t done points yet Although I just got an American Airlines Barclays card. If I get a free flight I’ll take it of course, but will then probably close the account

 

[rickandcindy23]

It's time to stop feeding the troll.


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Agreed!

 

[dioxide45]

It's time to stop feeding the troll.


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My original argument here was that perhaps as much as 5% of what we pay for stuff is all fluff to cover royalty programs. Perhaps even more. I do get it, not participating doesn't make sense since you aren't going to save that 5% by not participating. We take advantage of rewards because it makes sense. But if all that were gone, how much would we save? Probably more than the 5% I indicated. Some people of course are paying more than others because they are paying interest on their credit cards. THough there are of course rewards on top of rewards. Many retailers have their own rewards programs, so you are paying extra on top of your purchase and then paying more than we really could be paying when we double up or tripple up with the credit card rewards. Not sure how it all went down this path, but overall we are all paying more than we really could be paying if they just got rid of the song and dance.

 

[Brett]

My original argument here was that perhaps as much as 5% of what we pay for stuff is all fluff to cover royalty programs. Perhaps even more. I do get it, not participating doesn't make sense since you aren't going to save that 5% by not participating. We take advantage of rewards because it makes sense. But if all that were gone, how much would we save? Probably more than the 5% I indicated. Some people of course are paying more than others because they are paying interest on their credit cards. THough there are of course rewards on top of rewards. Many retailers have their own rewards programs, so you are paying extra on top of your purchase and then paying more than we really could be paying when we double up or tripple up with the credit card rewards. Not sure how it all went down this path, but overall we are all paying more than we really could be paying if they just got rid of the song and dance.

actually no ... 5% .... ? LOL !
but to convince you about the "fluff" and 'song and dance' simply shop at stores that offers a "cash" price or the choice of Apple /Android/ Paypal and credit cards and see the price if you pay by credit card is higher
it's a simple test ... do it !

 

[dioxide45]

actually no ... 5% .... ? LOL !
but to convince you about the "fluff" and 'song and dance' simply shop at stores that offers a "cash" price choice or Apple /Android/ Paypal and see the price if you pay by credit card is higher
it's a simple test ... do it !

I get how it works. I won't pay less by paying cash. BUT we are all paying more with the reward programs. It could very easily be 5% or more. The cost of the rewards program is built in at every layer. I get points at the movie theater on their rewards program and get free stuff in return. I get points on my credit card when I charge the movie tickets to that card. The free stuff at the theater is probably a 5% cost in the long run. The credit card is costing another couple points. Remember, NOTHING is free.

 

[Brett]

I get how it works. I won't pay less by paying cash. BUT we are all paying more with the reward programs. It could very easily be 5% or more. The cost of the rewards program is built in at every layer. I get points at the movie theater on their rewards program and get free stuff in return. I get points on my credit card when I charge the movie tickets to that card. The free stuff at the theater is probably a 5% cost in the long run. The points are another couple points.

sorry, I really don't believe you get "how it works"

but here's a question - Do you believe that the advertising costs for a certain product adds to the cost of that product that is charged to the consumer?

 

[ronparise]

sorry, I really don't believe you get "how it works"

but here's a question - Do you believe that the advertising costs for a certain product adds to the cost of that product that is charged to the consumer?

I for one have no idea how the points rewards cards work. And that part of my problem. I now have an American Airlines credit card and I have no idea how it works. I’m betting that I’m gonna get screwed


But to answer your question Of course advertising adds to the costs of a product
Just like the fees merchants pay when we use credit cards add to our costs

What’s the point?

 

[Brett]

I for one have no idea how the points rewards cards work. And that part of my problem. I now have an American Express credit card and I have no idea how it works. I’m betting that I’m gonna get screwed

But to answer your question Of course advertising adds to the costs of a product
Just like the fees merchants pay when we use credit cards add to our costs

What’s the point?

'gonna get screwed" ....... added to the product ..... nope ... but I suppose the ultimate point is:
it's a shame business courses are not offered in high school