Pampered Chef Debit Vs. Pampered Chef Credit Card

[turtle15]

Are there reasons to use one over the other?

 

[pampchefsarah]

Yes! I have both, and strongly recommend only using the debit card. That way you are paying with the guests' money for the show, and your commission for anything you purchase. Don't put your business into debt.

 

[turtle15]

Yes! I have both, and strongly recommend only using the debit card. That way you are paying with the guests' money for the show, and your commission for anything you purchase. Don't put your business into debt.

Even if I pay the cc off every month with the customer's money?

I was thinking the cc would be better because I would control when the money came out of my bank account.

 

[BethCooks4U]

Even if I pay the cc off every month with the customer's money?

I was thinking the cc would be better because I would control when the money came out of my bank account.

Exactly why I pay for everything with the credit card. I do pay 100% off every month when the bill comes so I pay no interest AND I get a bonus rebate every few months.

I avoid the headache of worrying if the checks will all clear before HO takes the money out for shows and I have a record of everything. I LOVE IT!!

 

[Jules711]

I definitely vote for the CC too, but we pay everything off every month so there is no question of if I'd be tempted not too. Also, I LOVE getting that bonus for not only doing nothing additional (b/c I DO have to have my shows), but it's from OTHER people spending money! Kind of like additional commission.

 

[troggt]

I prefer the debit card, it is easier to control/keep track of - since I might use the cc for other purchases than PC

 

[flemings99]

I don't have the debit, so use the credit only & love it. Also gets attention when I use it for biz purposes at the store. Love that I get the bonus credit back.

 

[DebbieJ]

I don't do debt, so I have no use for the credit card. I use the PC debit card for all shows and supplies and have never had a problem.

 

[janetupnorth]

My advice would be if you can't be 100% and I mean 100% disciplined to pay off that CC each and every month, then don't get it...the terms suck and it's not worth the headache.Some people can discipline themselves to pay it off and it works great for them, but if you can't, don't play with snakes, you'll get bit!Read the fine print on the terms too, it isn't a good "deal".

 

[BethCooks4U]

My advice would be if you can't be 100% and I mean 100% disciplined to pay off that CC each and every month, then don't get it...the terms suck and it's not worth the headache.

Some people can discipline themselves to pay it off and it works great for them, but if you can't, don't play with snakes, you'll get bit!

Read the fine print on the terms too, it isn't a good "deal".

I beg to differ. I find it to be a GREAT deal. If you don't pay it off, the interest rate is probably higher than you can get elsewhere so it's not a good deal for you. I did have one month that I didn't pay it all. The interest I paid was LESS than the bonus $$ they gave me so it worked out that time but I don't take chances and besides, I want it to be FREE money.

We've had this discussion before and your interest rate depends on your credit rating (if you don't have credit your rating is lower so a higher rate does not mean you're a bad risk, just that they don't know about you). But if you pay it off every month you can improve that too.

I don't do debt either and I totally agree that if you can't be 100% sure that you will make yourself pay it off every month it's not smart to get it. BUT, if you DO, the bonus $$ is like extra commission. For me, it pays for my ink for my printer and more. I'll take free ink.

 

[pcchefjane]

You may want to read Dave Ramsey's opinion on these "cash back" rebate cards. I had to laugh at the video 2 weeks ago in our class that a guy said all he "had to spend was $120,000 to get enough 'free' miles to go to Paris! Hmmm...somehow that doesn't sound very "free" to me. I trust Dave Ramsey since he lost everything he had 20 years ago. He was talking about the FICO thing last night. He went on to see what his was after 20 years of NO debt and NO credit cards. It told him he needs to borrow money and get a credit card so he could have a FICO rating. He said he would rather pay cash. I tend to believe a Christian financial expert than any credit card's terms after listening to him. Give me debt-free any day... Please don't take offense, Beth, but being one who cannot pay off every month, I am terrified of a credit card!

 

[BethCooks4U]

You may want to read Dave Ramsey's opinion on these "cash back" rebate cards. I had to laugh at the video 2 weeks ago in our class that a guy said all he "had to spend was $120,000 to get enough 'free' miles to go to Paris! Hmmm...somehow that doesn't sound very "free" to me. I trust Dave Ramsey since he lost everything he had 20 years ago. He was talking about the FICO thing last night. He went on to see what his was after 20 years of NO debt and NO credit cards. It told him he needs to borrow money and get a credit card so he could have a FICO rating. He said he would rather pay cash. I tend to believe a Christian financial expert than any credit card's terms after listening to him. Give me debt-free any day... Please don't take offense, Beth, but being one who cannot pay off every month, I am terrified of a credit card!

No offense taken. You know you.

Personally, though, I have no debt (except house and car and we're working on getting rid of those too!). I do have credit cards and I use them but the money's already in the bank before I do and they're paid off monthly. Not everyone is able to do that though so know yourself.

 

[janetupnorth]

I beg to differ. I find it to be a GREAT deal. If you don't pay it off, the interest rate is probably higher than you can get elsewhere so it's not a good deal for you. I did have one month that I didn't pay it all. The interest I paid was LESS than the bonus $$ they gave me so it worked out that time but I don't take chances and besides, I want it to be FREE money.

We've had this discussion before and your interest rate depends on your credit rating (if you don't have credit your rating is lower so a higher rate does not mean you're a bad risk, just that they don't know about you). But if you pay it off every month you can improve that too.

I don't do debt either and I totally agree that if you can't be 100% sure that you will make yourself pay it off every month it's not smart to get it. BUT, if you DO, the bonus $$ is like extra commission. For me, it pays for my ink for my printer and more. I'll take free ink.

My points are specifically directed at those who can't pay it off 100% all the time.

 

[janetupnorth]

Interest rate doesn't depend on credit rating only by the way, I have about the highest credit rating you can get and they did not offer me the lowest tier. However, they did find the ability to raise my limit by $6K without contacting me...My debt to equity isn't bad either...I personally don't like it and she asked for opinions good or bad.If it works for some, great. I just think they could have done much better.

 

[jrodeo]

You may want to read Dave Ramsey's opinion on these "cash back" rebate cards. I had to laugh at the video 2 weeks ago in our class that a guy said all he "had to spend was $120,000 to get enough 'free' miles to go to Paris! Hmmm...somehow that doesn't sound very "free" to me. I trust Dave Ramsey since he lost everything he had 20 years ago. He was talking about the FICO thing last night. He went on to see what his was after 20 years of NO debt and NO credit cards. It told him he needs to borrow money and get a credit card so he could have a FICO rating. He said he would rather pay cash. I tend to believe a Christian financial expert than any credit card's terms after listening to him. Give me debt-free any day... Please don't take offense, Beth, but being one who cannot pay off every month, I am terrified of a credit card!

I run every possible thing I can through my credit card that offers miles. I started this years ago and we fly every year cross country free. Yes, free.(And it's not $120,00 to do it) We choose the airline and we choose the flight. Free!! We don't pay interest so I would call it free. You must be disciplined to pay the card off every month, it's true. Otherwise, your "free" airline tickets start costing you. I understand why seminars are given to discourage people from using credit cards, but if you're going to use one anyway, and you're disciplined enough to pay it off each month (which means think ahead about charging something you know you can't afford) then why not earn airline miles with it? I love the PC credit card for the same reason Beth does. I'm about ready to receive $25 for my use of the card and I haven't paid a single dollar in interest. Just my 2 cents (no pun intended!).

And I'm not trying to talk anyone into doing this, it's just something I wanted to share. A friend of mine years ago always talked about flying every year out of the country with her family of 5. I couldn't understand how she could afford it. She told me about running everything through her master card, even a gallon of milk. Now I pay my utilities, groceries, insurance, everything with it. We've visited our friends and family more than we could ever afford to before. But, and it's a big but, you must be disciplined.

 

[turtle15]

Thanks everyone! That all helps!