TPampered Chef Debit Card Poll (Without Being a Poll)

[Jean DeVries]

Hello all,

Since I am protesting the new visa card, and therefore not getting one, I would like to hear about the following from all y'all:

Quick question for those of you with a TPC debit card. Do you debit out of your main household account, or do you maintain a separate checking account for PC only?

What are the advantages/disadvantages of each?

I'm a SPINK (single person income no kids), so I don't have to keep it separate from, say, a joint checking account I share with anyone, and I don't really want the hassle of a second checking account (let alone the time it takes to leave work to get one during "banking hours"), but I may not be seeing the big picture here.

Wouldn't be the first time, right TKG?

Also, I'm really only a PC hobbyist, so it's not like I'm throwin uber-money around on behalf of PC all the time.

TIA for the great advice/feedback!

Jean

 

[raebates]

I think it's always a good idea to keep business accounts separate from personal accounts. It's just easier to keep track that way and harder to make an error. Your bank probably has a simple, no-cost checking or savings account that would work for the PC debit card.

 

[pamperedlinda]

I have a seperate checking account for my PC biz. It's just easier.

 

[ChefBeckyD]

I have a separate account. It's just easier for accounting. I know that what is in there is PC money.

 

[Gina M]

I, too, have a separate account - that way I know it's strictly for PC and won't co-mingle with my household accounts (easier at tax time too!)

 

[DMB75]

I just have it in my main household account. This is just a hobby and I don't make that much.

 

[Leigh0725]

I have a seperate checking account for my PC Biz. This allows me to keep track of my spending. I put a portion of my comission in the account to help cover supply costs Then I use that account to deposit all my checks & cash. I also have a separate credit card I use just in case my expenses are more than my account. Helps make it easier to keep track of everything for tax purposes.

 

[finley1991]

I use my personal checking for my PC biz. I have no problems keeping everything separate. I'm also single with no kids so it's easy for me to keep track of everything.

I also have my director deposit put into a separate savings account.

 

[mrssyvo]

I just use our main account. My husband is an accountant, and so he keeps track of all of it for me, on spread sheets, and handles the account and expenses.

 

[christinaspc]

I use my personal account with PC and i just keep really go record in my check register as well in a note book, i don't do another checking account cause we have another one for our business so honestly i don't think i could keep 3 checkings all straight lol

 

[heather223]

I have a seperate one for PC. It is easier for me to keep track of my PC money then. I was able to open online and it is a free account with no fees.

 

[vwpamperedchef]

Seperate account...

 

[DebbieJ]

Separate account. Easier to track.

 

[jrstephens]

I have a separate account. I think it is easier when keeping up with things for tax time to have it separate from your general account.

But then I am the type that has a separate account for regular savings, a separate account for vacation savings, and then in my home I may have separate places for other different things I am saving for. HA!!!!

My husband calls me anal!!! Especially when I get paid each week and I put sticky notes on my money that is budgeted for different things like his gas, my gas, tithes, baby sitter, ball game money.......hahaha!! I know I am crazy! But I tell him would he rather me just spend it all and have none left!!HA!!!

 

[urbnk8]

I have been using our main account but recently opened a separate account for the business. I haven't switched it with my TPC debit card yet though. Even though it's been okay so far, I am just afraid that things might get confusing someday. I haven't been doing this that long.

 

[PamperChefCarol]

separate account here...

My idea on this.. why should I have to do the work to separate what's PC and what's not? Let the bank do it. I run all my grocery's thru that account, all my gas, my office supplies, etc. Much easier than having to sort if out later.

 

[PampChefJoy]

I have a separate checking acct in my name only for the PC biz and I have it linked up to my our other checking accts (all through the same bank) so I can transfer money back and forth if I need my PC "play" money to cover my household expenses or vice versa....

There are many online banks and B&M banks that offer free checking now too, so it's not necessarily an extra expense.

 

[J.Corley]

1) You asked about our thoughts on the new VISA, so here goes! I really don't like the idea of a "Pampered Chef" credit card for several reasons. First, having a credit card can lead to unnecessary debt. One of the things I love most about PC is there is low start up and low continual costs. You can spend very little maintaining this business. MK actually encourages credit if you don't have the means. Lastly, I want my company associated with getting families on track financially not deep in debt!
Sorry I'll put my soap box up now
I also have a FREE checking account that costs me nothing (except checks which I never need). I think it is wise to keep it aside from your personal finances even if you have a family.

 

[sfdavis918]

I have a seperate account also. I feel the same as other's that it is much easier this way. I don't have to keep track of what money is for personal and what is for business. I actually also have another business account for my bookkeeping business. I have online access for all my accounts and just download all the transactions into Quickbooks. Then when the statement comes each month I do a quick 2 minute reconciliation in Quickbooks and I don't have to think about it again. All in all, for the two business accounts I spend about 3 hours total per month with the record keeping/reconciling. Oh, and both accounts are free business accounts so no extra fees.

As far as making trips to the bank, I would have to make those trips anyway. If I can't get in the bank (because my kids are with me) then I just make deposits through the drive up ATM. If I have cash, I just write a personal check to myself, deposit it in the ATM with the rest of the PC checks and then keep the cash for personal expenses. (That might be a bit more work than some people are comfortable with. Sometimes I don't even write the check and then just call it a Draw from the business account.)

 

[Chocolatejunkie]

I have a separate account. One thing to keep in mind. What if a check that one of your customers gives you bounces :cry: :grumpy:
Do you really want your household account all mixed up over that? Plus I have a friend who also does PC, one time they accidentally debited all her shows twice and she had only one account. It took her a lot of time and hassle to straighten that out. (Granted I think that's a one in a million chance, but you still need to be careful)

 

[Jennie4PC]

I have a seperate account but the household bank that we use is in UT and the PC account is in NV so it definitly makes it easier for PC deposits.

 

[grayby]

I have a separate account simply to separate show deposits from MY checking account - I have enough trouble keeping that one afloat. Eventually I hope to use that account for all expenses too, but I'm just not there yet.

 

[Jean DeVries]

I"m not opposed to the whole Visa concept. I have several. They're well used and well paid for. I'm just opposed to PC's monopoly on Visa cards. I'd rather use the one that gets me airline miles (I pay as many bills as possible to this visa card - cable bill, Verizon bill, rent, etc. - and the full balance is paid out of my checking account every month...bills get paid, I get benefits. Would be nice to add PC shows to that mileage total

I've actually gotten a lot of extra business because of the Visa card option. I've been able to "delay" cashing checks for people I work with until payday, which is always before the bill comes due. Lots of time offering people this is the only way they are able to order. I know, I know...I can hear you all saying, "Wow, that's risky." But I've never had a problem. So, in that instance, I'm a little bummed to get rid of the Visa card, since I won't be able to offer that "float" anymore. I just don't like the company offering the card, and don't like giving up my Chase card.

 

[jasonmva]

I have a seperate account set-up just for my PC stuff.

I liked the advantage of the PC card from Chase and that is why I got it. But since they are doing the switch and I don't want the new card, I will revert back to my debit card. It was funny, when I called to cancel my Chase card, it seems like it took the rep by surprise when she asked why I was closing it and I told her because PC is no longer accepting it after December.

I have been thinking about drafting a letter asking PC why if a customer can pay by a non-PC cc then why can't we for shows. It really would make things so much easier.

 

[Rebeccascabinet]

I have a separte checking account for PC. That way I am never tempted to use that money before it comes out.

 

[Jean DeVries]

I have been thinking about drafting a letter asking PC why if a customer can pay by a non-PC cc then why can't we for shows. It really would make things so much easier.

I actually sent them an email about the new CC and their monopoly on the cards. Someone called me and left me a message. She sounded like I was the four hundredth person she had to talk to about this topic today. I decided to spare her and not call her back.

 

[jasonmva]

I actually sent them an email about the new CC and their monopoly on the cards. Someone called me and left me a message. She sounded like I was the four hundredth person she had to talk to about this topic today. I decided to spare her and not call her back.

I would give her a call back. One thing I have learned from the company I work for full-time is that we need to give management some feedback. Remember...it is just griping if you can suggest some alternatives. Call them and at least hear what they have to say.

 

[mommyhugz1978]

I have a separate account for Pc and Personal, but I use my back debit card with the visa logo on it when I submit shows and supply orders.

 

[BethCooks4U]

I have a separate checking acct in my name only for the PC biz and I have it linked up to my our other checking accts (all through the same bank) so I can transfer money back and forth if I need my PC "play" money to cover my household expenses or vice versa....

There are many online banks and B&M banks that offer free checking now too, so it's not necessarily an extra expense.

My PC account is linked to my other accounts too so I can transfer from one to another. All accounts are in both of our names so that if it was necessary my husband could access the account and vice versa. I pay certain things with that account but some months I pay additional things or the ability to move things on line is so great! - We actually have 4 checking accounts and 2 savings accounts linked together. My husband has his spending account, my PC account, my son has had an account since starting high school and our household account. It's a great way for everyone to keep track of their own spending.

I use the PC credit card to submit my shows because then I don't have to worry about all checks clearing or a debit error like the one mentioned in a previous post. By the time the bill comes all checks have cleared or rectified and I can pay the entire balance. If you use credit cards wisely they can help a lot.

 

[pamperedlinda]

.........
I use the PC credit card to submit my shows because then I don't have to worry about all checks clearing or a debit error like the one mentioned in a previous post. By the time the bill comes all checks have cleared or rectified and I can pay the entire balance. If you use credit cards wisely they can help a lot.

I do that a lot too, sure comes in handy.

 

[jwpamp]

I have seperate accounts, also. And I use the Debit Card for my payments. No real need to "credit" it.

I have heard that the Exec Seminar was a-buzz with ideas about the PC Credit Card...like that it should have cash-back benefit associated with it, and that is why they changed.

I don't see anything wrong with the card -- and I pay my balances as I get the bills, so never really incur finance charges (except for the once in a very rare "larger purchase"). I would never use a card without "points" or "cash back".

By the way, you don't HAVE to apply for it if you don't want to -- it's just another option for those who use it.

 

[bethsbiz]

I also am a tad distrubed about the new PC Visa card. My hubby and I just got out of a credit card mess and I know personally how easy it is to take advantage of a new card, with a speical offer, and then have it spiral out of control.

I am now PC debit, or cash/check, with only 1 credit card and 1 gas card. What a relief. EVERYONE offers cards now and it is because THEY MAKE MONEY DOING IT! It isn't for our convenience, it is for companies to make money. Period.

For example, I was flying home on an Alaska Airlines flight about a month ago. Imagine my surprise when about 3/4 of the way thru the flight, there was an announcement that if you signed up for a Alaska Airlines Visa Card BEFORE THE FLIGHT WAS OVER you could get 20,000 miles....enough for a standard free flight. The stewardesses quickly went around and handed out the forms, talked about if a couple did apps separately they'd both get a free trip, yadda, yadda, yadda. Within 20 minutes I know I saw at least 12 apps handed out.

It felt very, very commercial to me and when PC announced they were doing a VISA, I felt deflated in a way.....just not right, IMO. Glad there are others out there who openly or secrely protest this card.

 

[28sal]

well i am like you single no kids and hobbyist and i have a seperate chkng account with the tpc card just for pampered chef. it just is easier for me so i dont have to stress out on keeping my personal finances seperate from business. plus the tpc card is free and pc deposits my commision into that account. and it just makes my life easier.

 

[itsjustCarla]

I have separate account...makes things much easier.

 

[caynreth]

I have a separate account, but it sound like in your case it would make more sense to just keep the one account. Why have a second one to have to keep track of? And it doesn't sound like you would have all that much activity in a separate PC account.

 

[chefkristin]

If you want to "front" the money for people and put it on whatever card, Just go into their payments and put in your card number and your name. I do it all the time and have had no problem.

 

[Geekgirl69]

I have a separate account, but it sound like in your case it would make more sense to just keep the one account. Why have a second one to have to keep track of? And it doesn't sound like you would have all that much activity in a separate PC account.

I think it does make sense to have a separate account. Even if I only do 2 shows a month as a hobbyist, it would take a lot of effort to keep subtracting the TPC money from the available balance so I don't think I have "extra" bill money. If TPC took the money out same day as show was submitted, it might be a different story.

 

[kspry]

I have a free checking account just for PC.

 

[mommyhugz1978]

I have a separate account for my PC biz, it just makes it easier

 

[Kitchen Diva]

I too, have a separate business account. I want no additional room for "Oopsies"!

 

[Kitchen Diva]

Oh, and I will not be signing up for the new PC credit card...too easy to go nuts. I lost my full time job this summer, so I don't need any more bills!

IMHO they make it easier for customers to pay for product than they do for consultants to pay for shows. So I just use my TPC Debit Card for every show. So I agree with whoever wrote that if they can use other credit cards, why can't we? However it isn't hard for me to use my PC Debit card, and I don't mind doing it. It keeps me disciplined.

I didn't take the time to read up on why they were switching from Chase to whoever they are with now. I just know after getting about 6 emails from the new credit card company asking me to sign up for the card, I had to unsubscribe from their list. So is the new card a Pampered Chef card and you get points towards products when you use it?

 

[chefann]

You don't get points toward products, but you get a miniscule percentage of what you charge back as "cash." It's ridiculously low.

 

[Kitchen Diva]

doesn't seem like much of an incentive. My director told me that the old CHASE card would just increase your APR whenever they felt like it, even with on time payments. She thought maybe that was why PC switched to this new card.

I think I would want free gas for a year, free products and no interest rate before I signed up for it. (I won't hold my breath)

 

[chefann]

Yeah- good luck on that one. It's important to remember that no matter how they sweet talk it, credit card companies are in business to make money for themselves. They way they do that is through interest and fees.

 

[chef131doreen]

I have a separate account. It's just easier for accounting. I know that what is in there is PC money. I have 2 sparate accounts 1 checking for partys to debit partys an 1 sparate savinds for my paycheck...........