One Credit Card to Rule Them All

Discussion in 'Hangar Talk' started by AggieMike88, Aug 10, 2017.

  1. AggieMike88

    AggieMike88 Touchdown! Greaser! PoA Supporter

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    Now offering reverse discounts.
    Since we occasionally discuss credit cards and their reward programs, I thought some folks here might find interest in this article.


    "...the beauty of what Final is doing: It allows its credit card customers to create an unlimited number of virtual cards that they can specify to use with various different online services. And if one of those cards is ever compromised, or even if they want to just cancel or stop paying for a service, all they need to do is delete the virtual card."
     
  2. chartbundle

    chartbundle Line Up and Wait

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    My Citi card has had this for years. I haven't used it recently though as it was sort of a pain, having to login to the citi website and then click the proper sequence of buttons to get the virtual card. I guess that's the real improvement here.
     
  3. denverpilot

    denverpilot Taxi to Parking

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    I believe Amex has offered this for years. You can get a temporary card number from them for online purchases. A number of others now do it also, but I believe Amex was first.

    They mention recurring monthly purchases. Those types of purchases that are correctly set up as recurring, aren't technically using your card number anyway anymore...

    Have you noticed lately how when your card expires and you get a new one with a new number, your recurring bill pay stuff doesn't need updated anymore?
     
  4. CC268

    CC268 En-Route

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    No credit card at all!!!
     
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  5. deonb

    deonb Pattern Altitude PoA Supporter

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    Been using Privacy.com for this over the last couple of years - double buffered.

    When I want to buy something I transfer just enough money to a savings account that I use solely for privacy.com, and then inside privacy.com I have a virtual credit card set up per vendor.
     
  6. Let'sgoflying!

    Let'sgoflying! Touchdown! Greaser! PoA Supporter

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    I really haven't had a huge problem with credit card number theft, although I like their idea. (in all cases of hacked cards in the past, the credit card co made good on it)

    The big thing stopping me from getting aboard Final would be acceptance of the physical card at brick & mortar stores. I think they'd have to set up the same network with retailers that MC/V/Disc/Amex have.

    @Nate; my experience with recurring cc payments and anything wrong with the card is that the vendor gleefully charges me a $35 fee....until I successfully fight it!
     
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  7. denverpilot

    denverpilot Taxi to Parking

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    Seriously? Never seen that.
     
  8. Let'sgoflying!

    Let'sgoflying! Touchdown! Greaser! PoA Supporter

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    several times.
     
  9. denverpilot

    denverpilot Taxi to Parking

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    I guess maybe. You're saying they hit people with a late fee? I was thinking you said the card company did it. I get it now.
     
  10. deonb

    deonb Pattern Altitude PoA Supporter

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    They have a physical Visa card as part of the account.
     
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  11. Let'sgoflying!

    Let'sgoflying! Touchdown! Greaser! PoA Supporter

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    I'm in then.
    In fact, I want to buy stock.
     
  12. SoonerAviator

    SoonerAviator En-Route

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    As long as you pay it off each month, there's not really a downside to a credit card (unless you have ridiculous credit limits or several cards). Many cards' cash-back or points programs can make the discount meaningful if you use it enough. Hell, I have a credit card for QuikTrip fuel because I get enough of a discount per gallon of fuel purchased that it affords me 2-3 tanks of fuel over the course of a year. They also send me a $10 gift card for in-store food purchases after you buy so much with the CC. I'm going to buy fuel there anyway as they are the cheapest quality fuel station around here, so why not get a discount?
     
  13. genna

    genna Line Up and Wait

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    I'm not really sure why this is necessary. I have one physical card that never leaves the house and this card is used for all recurring payments. The chances of it being stolen/lost are extremely low and I know what is charged to it if i have to change it. Quicken does a good job with that as well as monitoring any kind of unauthorized activities. This card can also act as a backup in case my primary card is lost. That has happened multiple times and is a non-event. I also have several that can act as backup anyway. I don't even report lost cards for days until i exhaust searching all locations where I may have left it. Just check online for fraudulent transactions...

    The only convenience i see here is it is all going on the same bill... eh.. who cares?

    Citi does offer something similar on the surface, but it's meant as a temporary online use. Not for recurring transactions.
     
    Last edited: Aug 11, 2017
  14. Clip4

    Clip4 Pattern Altitude

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    1% reward? All my cards have 3-5%.
     
  15. paflyer

    paflyer Final Approach

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    What cards give you that return? On all purchases? Some establishments don't take cards such as Discover.
     
  16. AggieMike88

    AggieMike88 Touchdown! Greaser! PoA Supporter

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    Now offering reverse discounts.
    That describes my establishment. The reason is the rate I am charged when the customer uses Discover cards is much higher than the others.
     
  17. CC268

    CC268 En-Route

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    If you have the discipline to use your card and have the cash sitting in the bank to pay it off right then and there, then that is understandable. Personally, I use mine for my recurring payments (subscriptions, etc) and that is really it and I only have one credit card, but quite frankly I have thought about getting rid of mine. The problem is a huge majority of folks don't have that discipline and consistently spend money they don't have with their credit card. And trust me I was guilty of doing that, especially when I was fresh out of college.

    There are many reputable social studies out there that show you are more likely to spend money - period - if you have a credit card. Not necessarily money you don't have, but money in general. It is funny because it is so true - I have seen it with myself. It is so easy to make that impulse buy with a credit card. Keep doing this and before you know it your way behind the 8 ball.

    If you listen to Dave Ramsey at all it is always hilarious to listen to him talk about credit cards and specifically credit card rewards. Honestly the whole credit card rewards thing cracks me up. So you get %3 back?? WOW you just made $30 by spending $1000! What a deal! No one got rich by credit cards. This always really strikes a nerve with someone when I say that lol. But hey...if you got it figured out and your utilizing the rewards then I don't see anything wrong with it either.

    Anyways...not condoning anyone, just stating my opinion (a few facts mixed in there too).
     
    Last edited: Aug 11, 2017
  18. paflyer

    paflyer Final Approach

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    Goes without saying. A lot of places don't take AMEX for the same reason.
     
  19. AggieMike88

    AggieMike88 Touchdown! Greaser! PoA Supporter

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    Now offering reverse discounts.
    AMEX I do, but mostly due to all the corporate entities that wish to do biz with me and that's the card they have.
     
  20. overdrive148

    overdrive148 En-Route

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    I have a single credit card and I use it for building credit. Tempting to spend outside my means because i have a buffer but I don't let myself. Just broke into the "excellent" range for credit as well.
     
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  21. paflyer

    paflyer Final Approach

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    I would think that anyone who has the self discipline to become a pilot can also control their spending impulses.
     
  22. CC268

    CC268 En-Route

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    Ha....wishful thinking
     
  23. genna

    genna Line Up and Wait

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    Isn't becoming a pilot in the first place a pretty serious spending impulse? ;)
     
  24. paflyer

    paflyer Final Approach

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    No, most people think about it for a long time, sometimes decades.
     
  25. neilw2

    neilw2 Line Up and Wait

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    BAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHHAHAHAHAHAHHAHAHAHAHAHAHAHAHAHA

    OK, OK. I think I'm done.

    Pilots, including me, are the cheapest SOBs I have met. The only thing I'm not cheap about for myself is flying. Becoming a pilot is the single biggest irresponsible fiscal decision I have ever made.


    It has been the best decision I have ever made, but the least financially sound by far.
     
  26. paflyer

    paflyer Final Approach

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    Irresponsible? Perhaps you should have just finished the basement and bought a copy of MSFS. As you get older, YOLO becomes much more apparent.
     
  27. denverpilot

    denverpilot Taxi to Parking

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    I like his other observation better...

    "80% of adults say they pay their credit cards off every month, and yet we just hit a new record for credit card debt, again. Somebody's LYING."

    Which matches the Dr. House worldview. Which is so rarely wrong, it's a pleasant surprise when it is. Heh. ;)
     
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  28. denverpilot

    denverpilot Taxi to Parking

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    The funny part about having "excellent" credit, is that in order to be wealthy, you'd better not ever use it for consumer spending.

    It's kinda like someone telling you they have the best Meth in town. :)
     
  29. neilw2

    neilw2 Line Up and Wait

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    Totally agree with your overall point, YOLO and even though it is technically irresponsible I work too hard and get too much enjoyment out of flying so I just don't worry about it. It represents more enjoyment/$ than anything else I spend my money on.

    However, if someone on the outside looked at it (especially someone not familiar with GA) they would say that it is a frivolous expense.
     
  30. paflyer

    paflyer Final Approach

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    That's their problem! :cheerswine:
     
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  31. denverpilot

    denverpilot Taxi to Parking

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    Exactly. Someone telling me my life's activities are frivolous can pretty much shove it. Which is also why I don't ask and don't feel any need for their approval of any of it anyway.

    My wife is much more group approval driven than I. I can bug her just by suggesting we paint the house an odd color for the neighborhood.
     
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  32. asechrest

    asechrest En-Route

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    Interesting. I think I'll stick with Citi Double Cash and 2% back on literally every purchase I make (which is 99% of them on that card).
     
  33. paflyer

    paflyer Final Approach

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    IMO spending the whole weekend watching sports on TV is frivolous, but if that's what one likes to do, have at it. Me, wouldn't be caught dead.
     
  34. denverpilot

    denverpilot Taxi to Parking

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    Yep. I participate in that frivolity and know it's essentially useless behavior. But also don't care what anyone thinks of how I spend my football season Sundays.

    Well maybe one person I do care about. But she likes football too. More than I do, even. LOL. She was hollering and yelling at a pre-season game with third-stringers last night. I'm not quite that into it. ;)
     
  35. deonb

    deonb Pattern Altitude PoA Supporter

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    These guys (Final) just sent me an email that they're shutting down operations...

    Oh well, they weren't that good to begin with.

    I created a dozen of so accounts. Then added a new account and paid for something that they flagged as bad. After that they went and suspended all of my other account numbers as well until I called them.

    That's the exact thing I am trying to prevent by using a card anonymizer! So what's the point? Can see why they went under.

    Ouch. Hope you didn't.
     
  36. Zeldman

    Zeldman Final Approach

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    Flying is where the money comes from to pay my credit card off each month.
     
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  37. AggieMike88

    AggieMike88 Touchdown! Greaser! PoA Supporter

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    Now offering reverse discounts.
    Venture capital question......

    Do they have to pay back any of the investment money? Or have the founders taken their cut, cashed the check, and vanished into the entrepreneurial ether?
     
  38. deonb

    deonb Pattern Altitude PoA Supporter

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    Apparently what's left of them is being acquired by some other entity. They can't share any more info than that.

    But I assume they're taking whatever money/shares they're getting from that acquisition and divvying it amongst to the original VC's.
     
  39. TCABM

    TCABM Pre-takeoff checklist

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    Depends on how the first deal is structured and how the company dies. If there’s intellectual property involved, we will sometimes structure it so that in he event of failure, we get the IP. Then, if it’s feasible we finish the IP work, patent it, and then turn it into a revenue generator.
     
  40. Sac Arrow

    Sac Arrow Touchdown! Greaser!

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    I was fairly late in life to have obtained a credit card. I need one. I can't rent a car without one. I can't book an airline flight without one. I can't reserve a hotel room without one. But I like it. I don't have to carry much cash and deal with change. Some people psychologically spend more with credit cards than they do with cash, but I don't. In my mind, the price is the price, regardless of how you pay for it. I pay it off at the end of the month and it's all good.

    I don't get running up huge debts on a card. I know people do it, but I personally can't comprehend it.
     
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