Revolving Credit Cards

You don't realize how much that 20% interest is actually costing you if you let ANY amount sit on a credit card beyond the date the interest is applied... generally you get 30 days

 

Lol don't sound like it unless in reading it wrong but to me he asking forn3 cards and let it sit on rac for 3 month before it goes to collections ? Sure hope I'm wrong

 

if you need 3 or more credit cards, then you ARE cash poor, and should NOT carry any balance. are you a L/O? sounds like you are and are now struggling with money. you have in a basic way 2 choices.

1) give up the truck, since after all you mention motel room, your company (if you were a company driver) would provide you with one

2) try and renegotiate your lease terms and hauling rates, maybe ask for more miles as well?

starting off cash poor, or broke will only get you into bankruptcy and my question to you is..."when will you learn, you need cash"?

 

You eventually pay, either on the front end or the back end, the CC companies always will make money.

Just an FYI to those who may not get this, when owners can't pay the bills out of pocket, and run it like a household, then there produces a revolving door of failure, where the only one who profits is the guy who buys the truck for pennies and puts it on the road, everyone else loses.

 

Thought I'd heard it all a week or 2 back about "financing a tire"

 

Plus the fact that he is more than likely paying pump price for fuel, there is another 10% out the window. Don't think this OP will last to long.

 

Credit pump price at that

But I bet he is racking up those credit card reward points....

 

and the free sodas!

 

Will probably gonna get some heat for this but..... I do use my credit card for fuel. I pay it off every month so I am not charged interest, and yes I do rack up the points. Am I really gaining anything probably not but I like being able to take my family to Hong Kong every year and not have to pay for flight tickets.