Cash?

[ron hardin]

Two quick comments:

!. I've tried several times to get a discount if I pay cash and been turned down every time. That's when I say thanks and walk out and let them keep it.

2. When my Mom died about 5 yrs ago, I found out she had balance due of $10,000 on one card and $11,000 on another. She was 88 yrs old, with a $300 union pension plus S/S. Both went to direct to her bank. She had several monthly bills, including the credit cards on automatic payment, sent directly to the bank. She also had automatic overdraft protection. When the bills came into the bank and the account was overdrawn, they would advance enough to cover the minimum payment adding it to her credit card balance and charging a $30 setup fee. The banks were advised of her passing with copies of her death certificate. She didn't leave any estate and most of her possessions went to charity, therefore there was no need for an executor and no probate.
Some people have asked how could my Mom have been so dumb to run up that kind of balance. My answer: the bank had to be the dumbest bastards I can think of to keep advancing money to an 88 yr old when they were their one's receiving her income checks. They helped finance her retirement with the advances.
When I looked into it, most of the charges had been car expenses from about 10 yrs before her passing, about $4000 on each acct, the rest was interest.

About 6 months after her passing, I was contacted by the card companies, wanting to know what I or my siblings were going to do to meet this obligation.
I told them we had no obligation as none of us had ever co-signed for her. They harassed me for about 2 weeks and finally gave up.

[Master Yota]

....and that is exactly why I do not have a credit card and don't plan to ever have one. Not having one makes it nearly impossible to rent a car, though. None of the major rental agencies will accept a cash transaction. The reason? If you "forget" to bring it back or damage it beyond what their insurance will cover, they apply their costs to your credit card and you have just bought a car.

Its amazing what cash "won't" do anymore. It won't rent a car, and its also quite difficult to rent a hotel room without a CC either. Infact, almost anything that can be rented, cannot be rented with just cash only. The real downside is that so far we all think that the credit card is "evil". In reality, its just a piece of plastic with some numbers on it, and its only real physical use is that on an ice scraper in the winter. The card itself isn't bad, its our actions as the card keeper that truly speak volumes for our self control. A little self restraint will go along way towards keeping ones head above the water.

And good on your mom Ron for pulling one over on the credit card guys.