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Besides, with the outrageous interest rates on credit cards you'd end up in a deep hole just making minimum payments every month.
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1 - "I was told" is the most dangerous phrase in the English language.
2 - Next time anybody tells you that something is illegal or "it's the law" ask them to cite you a statute number. They invariably won't be able to which will cast considerable doubt on the accuracy of the assertion.
Now I know of people who do this to get air miles... but they pay the card off the next month.
CC companies don't make a nickel off me. [/QUOTE said:While they dont make as much off you as others that carry balances, they still make money off you. They charge the business a couple % for accepting their card & the business in turn has raised their prices to offset their ongoing costs to accept cards. Especially the more expensive cards to accept like AMEX
I actually have a really good explanation for all of this.If the OP only had a couple of posts, then I'd wonder if it was a consumer asking. But with 68 posts... this has to be an agent asking and considering a viable way to sell permanent life insurance.