The Bike Schwag Slush Fund
02-02-10, 12:23 AM
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The Weird Beard
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The Bike Schwag Slush Fund
In these trying economic times, I'm sure more than a few of us have had to cope with credit card companies and the poor decisions that got them where they (and collaterally, we, the consumer) are. You hear things like "The lending environment has changed", or "The cost of doing business has evolved and we no longer offer that rate". All this when interest rates are at historic lows and consumers with flawless histories and bright shiny credit are having their rates jacked.
The economic ins and outs are a debate for another thread, in another forum.
One card pumped my rate up to double, about a year ago. I called immediately, complained, and got my rate back to where it was. Tonight I log into that account, only to find that my rate has been increased 5% on my zero balance that I pay off each month in full, when I even have a balance. Yes, I understand that these days, being a 'good customer' and paying off my balance without being late or even carrying a balance is not in the best interest of the credit issuer. Some card issuers will cancel an inactive account - I'll keep it active to spite them, and make out with some sweet stuff for my two wheeler(s).
I have found a way to make this work for me.
This card has become my once a month, no more than $100 in expenditures, Bike Schwag Slush Fund. Sites like Chain Love, Bonk Town and Steep and Cheap will help me achieve schwag-periority, while the LBS will also see a fair share of this newfound economic tool. Some might say, "Why not save the money?" To them I respond, pshaw - this is the money I was spending anyway and felt guilty about paying off. It is healthy to maintain your hobby, and the credit racket has merely structured my spendiness.
This idea is not yet licensed or patented, and has likely already been conceived and put into practice.
The economic ins and outs are a debate for another thread, in another forum.
One card pumped my rate up to double, about a year ago. I called immediately, complained, and got my rate back to where it was. Tonight I log into that account, only to find that my rate has been increased 5% on my zero balance that I pay off each month in full, when I even have a balance. Yes, I understand that these days, being a 'good customer' and paying off my balance without being late or even carrying a balance is not in the best interest of the credit issuer. Some card issuers will cancel an inactive account - I'll keep it active to spite them, and make out with some sweet stuff for my two wheeler(s).
I have found a way to make this work for me.
This card has become my once a month, no more than $100 in expenditures, Bike Schwag Slush Fund. Sites like Chain Love, Bonk Town and Steep and Cheap will help me achieve schwag-periority, while the LBS will also see a fair share of this newfound economic tool. Some might say, "Why not save the money?" To them I respond, pshaw - this is the money I was spending anyway and felt guilty about paying off. It is healthy to maintain your hobby, and the credit racket has merely structured my spendiness.
This idea is not yet licensed or patented, and has likely already been conceived and put into practice.
02-02-10, 01:44 AM
#2
Peloton Shelter Dog
Incorrect. 'Slush Fund' refers to a clandestine fund used for illicit purchases and activities. Every politician and married person knows this.
02-02-10, 01:47 AM
#3
The Weird Beard
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Only you guys know about it, which means no one else does. BF is right next to CF (Computer Forums) for nerdiness, so none of my cool friends or family will see it. Both of them. If anyone divulges my secret spenditude, there will be blood.
