My Experience with Lone Star Transportation

I would suggest using a credit card for all your expenses and pay of the entire balance every month. It is more secure, as you are not responsible for fradulant charges. The only money at risk is the credit card company's. Also, you should be able to find a card that offers cash back rewards. I rarely use my debit card anymore.

 

It wasn't more than a year ago that somebody managed to get a hold of my mom's account info(she is also with BofA) and managed to spend almost $8k before BofA locked her card down. She got all of her money back and didn't have to pay a dime. She doesn't like BofA and I don't like BofA, but with that one instance she was happy with them. Just FYI to give you something to think about. Also, I hate that crap about BofA... you can't do anything with your account at a BofA unless you are in the same state that your account is out of.

 

That should be enough to make OTR long haul drivers choose to bank somewhere else. You will almost inevitably need to deal with something and having to get to your home state seems like a lot to ask.

 

by the american trucker the same thing will often happen with a credit card, and maybe moreso if used at a truckstop, lol. i have on several occasions used my card for a purchase and while trying to authorize i will receive a call on my cell asking if i am aware my card is being used at the t/a in gary , in for a purchase of 259.00 when it was last used 700 miles away the day before?? i say yes, and please again make note i am a truckdriver and i may use the card all over the country in a weeks time. that has happened several times and once the jokers called and said they had canceled the card and were sending new ones .

it is due to fraud prevention and they are really looking out for you , lol.

but cpape gave you great advice, use a credit card. do as he said pay it off every month and it wont affect your credit rating one bit and you also avoid interest. you can also have the ability to protest charges and in many cases have additional warranty on things you buy.

 

Yeah, using less then 20% of your balance is good. Because credit starts going down after 20% is used up. More you use, lower it goes.

 

On a side note, I think the way credit scores are calculated will be tweaked, altered, or completely overhauled in the next 5 years. The current method has a lot of flaws.

If you have 20K in the bank, make $1000/week with few (assumption) monthly payments, and pay off your card monthly, I would expect you would qualify for a healthy credit limit. You could probably qualify for a credit limit that would allow you to stay below 20% of the limit. As long as you aren't buying a bunch of chrome for that truck or blowing too much on truck stop dates.

 

if you pay it off every month, the 20 per cent wont affect you. the way to accomplish that is to set yourself to pay online. the 20 per cent wont affect you unless it carries over to the next month. i always pay mine before the statement is even sent out.