Go Back   CruiseMates Cruise Community and Forums > Practical Advice > Travel Gripes!
Register Forgot Password?

Travel Gripes! Gripe about cruises or getting to one.(airlines, taxis)

Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #31 (permalink)  
Old July 28th, 2003, 12:46 PM
Member
Passenger
 
Join Date: Jun 2003
Posts: 47
Default Re: Cruise Credit Trap

We applied for and received the Carnival Card. The credit limit was only $3,000.00. In order to receive a free cruise, we had to spend over $100,000.00. We cancelled the card.

Then we got a Visa from I-Cruise. The credit limit is $15,000.00. Instead of free cruises, we receive points. After 27,000 points, we receive $800.00 off of our next cruise purchased through I-Cruise. Last year, we took a 7-day cruise with balcony on the Carnival Pride. The cost was $1,600.00. We received $800.00 off of that. Next year, we are planning to cruise to the Southern Caribbean and by then, we will have another $800.00 discount built up.

We charge everything to the card; gas, food, clothes, entertainment, beer (heavy points there) and cruises (double points there). I would pay the mortgage with it if I could. We pay the card in full every month, so there are no interest charges. There is no annual fee. We like it and recommend it.

Glenn
Reply With Quote
  #32 (permalink)  
Old July 28th, 2003, 02:13 PM
AR
Guest
 
Posts: n/a
Default Re: Cruise Credit Trap

If you're confused about why people with relatively high incomes are the same ones who are constantly in debt, I strongly recommend the wonderful book called "The Millionaire Next Door."

It debunks a lot of the instinctive assumptions about who has money and who doesn't, along with how people who are well off got that way and stay that way. One of the most important themes in the book is that high income does not correlate with high net worth. Many people in Jaguars are up to their asses in debt while many people in Tauruses are millionaires. Why? Well, because they didn't spend $80k for a car. That's an oversimplification, but it really is the basic point.

People with high incomes tend to feel more pressure to keep up appearances.
Reply With Quote
  #33 (permalink)  
Old July 28th, 2003, 07:36 PM
Senior Member
Yeoman
 
Join Date: Oct 2000
Posts: 605
Default Re: Cruise Credit Trap

I am so impressed with everyone's wisdom on how to use credit cards and earning points to reward themselves with a nice cruise vacation. Kudos the all those people.

My husband and I always felt that a vacation is a luxury not a necessity. This has always kept us out of debt and now that we are retired, we now have the time and money to cruise at least three times a year. Granted we still try to get the best deal and stay in inside cabins, but this gives us the extra money for a few martinis on our cruises and even a few new baubles when we visit the St. Thomas jewelry stores.

Please enjoy your vacations, debt-free. You'll really enjoy it much better.

PS: We use the American Express Rebate Card for all our household and vacation purchases and get back money each year. I guess I just don't have the time to wait for points to add up. I'll just spend that extra money on our next cruise.

Happy cruising.

Future cruises:
Celebrity Summit 10-night 12/12/03
Explorer of the Seas (special 8-night Eastern Carib) 05/01/04
Navigator of the Seas or Voyager of the Seas (possibly 9/03---if hurricane season behaves itself)
Reply With Quote
  #34 (permalink)  
Old July 28th, 2003, 09:17 PM
Senior Member
First Mate
 
Join Date: Jul 2003
Posts: 468
Default Re: Re: Cruise Credit Trap

A phone call can probably double your limit if you so desire. Same thing with rates. If you call and tell them you want a lower rate you will probably get it. Ask and ye shall receive.
Reply With Quote
  #35 (permalink)  
Old July 28th, 2003, 10:41 PM
Senior Member
First Mate
 
Join Date: Oct 2000
Posts: 289
Default Re: Cruise Credit Trap

My bank offers us a debit card that holds a major credit card name on it so it can be accepted everywhere major credit cards are accepted. So when we pay for our cruise it is taken straight out of our checking. I read where some people are saying, "they pay off their balances every month" and "people are stupid not to pay off there balances" well my point is why charge then? If you have the money to pay for it all then do so. That's what a credit card is for "CREDIT" if everyone who had one could pay off their balances when the statement came in then they just soon wait until they have the money in their hands and pay for what they need. That's just my opinion but I can't see how someone can say people are stupid not to pay off their balances every month.

__________________
Inspiration 5/26/02
Holiday 3/1/03
Holiday 8/21/03
Reply With Quote
  #36 (permalink)  
Old July 29th, 2003, 05:14 AM
Senior Member
Admiral
 
Join Date: Jan 2003
Posts: 1,021
Default Re: Re: Cruise Credit Trap

Just be careful with those "fake" visas (debit cards) as they DON'T allow the same protection as a regular Visa credit card....IE fraud, etc....

Plus if something is taken out incorrectly it's your cash and not your credit card. You could be in trouble if they suck out your cash and it's not expected.

Reply With Quote
  #37 (permalink)  
Old July 29th, 2003, 08:45 AM
Senior Member
Admiral
 
Join Date: May 2002
Posts: 4,017
Default Re: Re: Re: Cruise Credit Trap

jasonalec - I called Capital One and requested a higher balance, and they refused. I'm actually kind of fed up with them and am thinking about trying the icruise credit card instead. It sounds like a quicker way to get cruise rewards.

Sheila - there are a couple of reasons to use a credit card even if you are planning to pay off the balance every month.

1) A credit card protects you. If something goes wrong with your purchase or you are fraudulently billed for something, it's relatively easy to remove the charge.

2) A credit card offers rewards. My Discover card gives me 1% cash back on every purchase. The cashback reward built up over time, and I've chosen to double it (an option with Discover card if you use the reward toward gift certificates from one of their partners) and received over $200 in Olive Garden/Red Lobster gift certificates. I also use a Carnival mastercard, with which I've earned a substantial discount on my next cruise. There are no annual fees for these cards so I'm not spending any extra money to use them. I pay off the balances in full every month. I would have spent the same amount of money whether I used credit cards or a debit card (or just wrote checks.) By using the credit cards and paying off the balance each month, I am basically getting rewards for free.

3) A credit card offers a safety net. What if I were to lose my job tomorrow? For as long as it took to get me on my feet again, I could pay the minimum monthly payment on my credit cards instead of paying off the balance each month and still be able to make the mortgage payment using my savings. I could put bills and groceries on the cards. It goes without saying that you wouldn't want to do this for more than a couple of months - and hopefully that's all it would take for me to find a job again. After that, I would work on paying off the cards before racking up huge new bills again.

4) A credit card builds your credit rating. By using credit responsibly, you increase your credit rating and make getting loans, mortgages, etc. easier with better interest rates.

Hope this gives you some answers.

Cheers,
Michelle B.

__________________
~~~~~~~~~~~~~~~~~~~~~~~~~~
Now posting as MichelleP.
Reply With Quote
  #38 (permalink)  
Old July 29th, 2003, 11:27 AM
Senior Member
First Mate
 
Join Date: Jul 2003
Posts: 468
Default Re: Re: Cruise Credit Trap

Well said Michelle. I was about to point out the same points so you saved me some typing.

Did you tell them that you are getting offers from other companies? If you have decent credit, I don't know what there problem is. I would get another card. I have had pretty good experience with bank one. They offer a points program called value miles that give you free flights on any airline.
Reply With Quote
  #39 (permalink)  
Old July 29th, 2003, 11:37 AM
Senior Member
First Mate
 
Join Date: Jul 2003
Posts: 468
Default Re: Re: Cruise Credit Trap

Sheila

The only "stupid" thing about not paying the entire balance is if you don't have an offer. With offers of 1.99% for 6 mos or 5.99% fixed on balance transfers, it would be a bit ridiculous to pay the 20% standard rates that are on many cards. At that high a level, many people are not able to get past the interest to pay off the principal. Hence the "trap" many people speak of (enticing people to borrow at 1.99%, getting them to borrow as much as possible, then boosting the rate to 20%). If you are disciplined enough, it can make sense to 'manage' cash flow by borrowing at such a low rate. Many people fall into unfortunate circumstances however and get caught in the crunch.

Does anyone know if you get the same benefits (as mentioned above - extended warranties, arbitration, etc) from a debit card as a credit card? I wonder if you loose any with the debit card...
Reply With Quote
  #40 (permalink)  
Old July 29th, 2003, 01:02 PM
Senior Member
Admiral
 
Join Date: Jan 2003
Posts: 1,021
Default Re: Re: Re: Cruise Credit Trap

Does anyone know if you get the same benefits (as mentioned above - extended warranties, arbitration, etc) from a debit card as a credit card?

NO, debit cards are not credit cards.

Reply With Quote
  #41 (permalink)  
Old July 29th, 2003, 02:43 PM
Senior Member
Admiral
 
Join Date: May 2002
Posts: 4,017
Default Re: Re: Re: Cruise Credit Trap

Thanks for the advice jasonalec. I don't fly enough to use a frequent flyer rewards card so I'll probably just try the icruise card.

Cheers,
Michelle B.

__________________
~~~~~~~~~~~~~~~~~~~~~~~~~~
Now posting as MichelleP.
Reply With Quote
  #42 (permalink)  
Old July 30th, 2003, 08:40 AM
Senior Member
Admiral
 
Join Date: Dec 2001
Location: My GPS says 12 ft. above 6 ft. under!
Posts: 7,272
Default Re: Cruise Credit Trap

I had an associate who bought a new house on his credit card. He spent somewhere close to $180,000 on the house and put it on his rewards credit card. At the closing the credit card company had to verify the purchase and funds available to approve the purchase.

What did this do for him? Well, first his money for the down payment sat in the bank for another month collecting interest. Second, he earned 180,000 points on his card for no additional money (which translates into 7 free airline tickets, or one 7-day cruise for two on Carnival or HAL), and third, his credit rating went up when he paid off the balance at the end of the month.

That's a good reason to use a credit card, right?

Regards,
Thomas
Reply With Quote
  #43 (permalink)  
Old July 30th, 2003, 12:39 PM
Senior Member
Admiral
 
Join Date: May 2002
Posts: 4,017
Default Re: Re: Cruise Credit Trap

My goodness, Thomas, he must have had no limit on his card! I wish I had been allowed to do that with my down payment. That was smart.

Cheers,
Michelle B.

__________________
~~~~~~~~~~~~~~~~~~~~~~~~~~
Now posting as MichelleP.
Reply With Quote
  #44 (permalink)  
Old July 30th, 2003, 02:28 PM
Senior Member
Admiral
 
Join Date: Dec 2001
Location: My GPS says 12 ft. above 6 ft. under!
Posts: 7,272
Default Re: Re: Re: Cruise Credit Trap

You probably would have been allowed to do that Michelle. You just had to ask them. If the credit card company is aware that you have secured a mortgage they know they will get their money plus the discount fee on top of it at the end of the month.

Regards,
Thomas
Reply With Quote
  #45 (permalink)  
Old July 30th, 2003, 02:49 PM
Senior Member
Admiral
 
Join Date: May 2002
Posts: 4,017
Default Re: Re: Re: Re: Cruise Credit Trap

Well, too late now, but I'll certainly remember that for the future. Thanks for the tip.

Cheers,
Michelle B.

__________________
~~~~~~~~~~~~~~~~~~~~~~~~~~
Now posting as MichelleP.
Reply With Quote
  #46 (permalink)  
Old July 30th, 2003, 03:02 PM
sue's Avatar
sue sue is offline
Senior Member
Admiral
 
Join Date: Sep 2000
Location: Rhode Island
Posts: 5,111
Default Re: Re: Re: Re: Re: Cruise Credit Trap

Thanks michelle for the tip! i think I look into Visa from icruise and see what they can do for us....

__________________
June 1st 2015--- Denali Explorer Cruise on Star Princess!
Reply With Quote
  #47 (permalink)  
Old July 30th, 2003, 03:34 PM
Senior Member
Admiral
 
Join Date: Jan 2003
Posts: 1,021
Default Re: Re: Re: Re: Re: Re: Cruise Credit Trap

But the only thing with the icruise visa is I read the points you accumulate for cruises is ONLY good on the icruise.com website.

At least with my Capital One Carnival Mastercard I can book a Carnival cruise anywhere and use the points towards a cruise whereever I book, right?

Reply With Quote
  #48 (permalink)  
Old July 30th, 2003, 10:36 PM
Senior Member
First Mate
 
Join Date: Nov 2002
Posts: 397
Default Re: Cruise Credit Trap

Reply With Quote
  #49 (permalink)  
Old July 31st, 2003, 09:23 AM
Senior Member
Admiral
 
Join Date: May 2002
Posts: 4,017
Default Re: Re: Re: Re: Re: Re: Re: Cruise Credit Trap

Helen, that is true. So it's an individual decision. But for me, I'm planning to try the icruise card because their prices are consistently among the lowest when I research, it seems faster to accumulate points toward cruise discounts with the icruise card than the Carnival card, and you can use the icruise card's points toward a discount on any cruise line, not just Carnival. And I haven't heard anything bad about that agency.

I'm still using my Carnival card for now, but their customer service is not the best and it will take me about five years to earn that free cruise.

I've applied for the icruise card, and when I receive it, I plan to read all the fine print and compare it closely to the Carnival card to make sure it is the best deal.

Cheers,
Michelle B.

__________________
~~~~~~~~~~~~~~~~~~~~~~~~~~
Now posting as MichelleP.
Reply With Quote
  #50 (permalink)  
Old July 31st, 2003, 09:26 AM
Senior Member
Admiral
 
Join Date: May 2002
Posts: 4,017
Default Re: Re: Cruise Credit Trap

Oh Bernie, you crack me up!

Cheers,
Michelle B.

__________________
~~~~~~~~~~~~~~~~~~~~~~~~~~
Now posting as MichelleP.
Reply With Quote
Reply

Bookmarks

Tags
arbitration, buy, call, card, credit, cruise, currency, mbna, miles, options, pay, powered, put, rewards, travel, vbulletin

Similar Threads
Thread Thread Starter Forum Replies Last Post
Can you doubledip? Shareholder credit and prebook credit? laccruise Royal Caribbean International 6 May 31st, 2009 08:15 AM
cruise credit ? rob6465 Carnival Cruise Lines 13 July 3rd, 2007 07:02 AM
Seeking Cruise Partner To Help Use Carnival Cruise Credit InjunJoe Seeking Cruise Companion 3 September 14th, 2006 03:02 PM
The Mouse Trap Luanne Russo Chit - Chat for Cruisers 5 January 13th, 2006 06:56 AM
A better mouse trap? MaryLou Chit - Chat for Cruisers 9 August 16th, 2002 10:26 AM


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


 

All times are GMT -4. The time now is 06:59 AM.
design by: Themes by Design

Powered by vBulletin® Version 3.8.7 Beta 1
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
Search Engine Friendly URLs by vBSEO 3.6.1