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  #11  
Old 03-05-2010, 12:59 PM
flyboy1963's Avatar
flyboy1963 flyboy1963 is offline
 
Join Date: Oct 2008
Location: Lake Country, B.C. Canada
Posts: 2,416
Default what's in the cards?

..Bret, just another angle on the CC debacle.
I went from 14% to 8 on my card just by asking!
..told them I could do better elsewhere, and they changed me to a 'line of credit' VISA. NO airmiles, no points, no fees, just a way better rate.
YMMV
it's tough NOT to use the CC for all the online and distant purchases involved in building, so you really have to stay on top of it.
treat it like a little side business, pace those expenses, and pick up bargains when you can.
..of course, I am like many other guys, and have 3 headsets for a 2-place plane, but I'm working on making smart timely purchases.

( mmmmm but they're so SHIIIIIIIINNNEEEYYYYY! MUST BUYYYYYYYYY
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RV-9a - SOLD!....
Lake Country, BC
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  #12  
Old 03-05-2010, 01:50 PM
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PropellerHead PropellerHead is offline
 
Join Date: May 2008
Location: Pisctaway, NJ - USA
Posts: 105
Thumbs up Setting a goal...

A while back, I needed surgery. As a self employed business owner / telecom contractor, income nearly stopped for two months while trying to recover. I think the meds were worse than the surgery.

I used my credit cards to pay my bills and house for over three months to recover from being unable to work, and a few months to recover lost business and accounts.

I used to be the type that paid the balance in full or in two payments. It snowballed.

My wife, knowing I really want to continue with my life before all that suggested we set a goal, get some help and get it fixed. We worked with a credit counseling service (highly reccomended) and in 3.75 years we will be back to zero from a 60K nightmare. This July we "hit zero" and we are planning to have a small "Zero Party" and unveil a small shadow box glass frame filled with the shredded cards we closed entirely. The shadow box engraved plaque is still being made that says "Never Ever Again." At that point, it was suggested I save for my tail kit and continue with my goals again :-)

Brett, you really chose wisely. Don't worry, the freedom from the evil plastic giant will fuel the freedom of flying your dream.
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Happy Landings!
Kevin "PropellerHead" Schlosser
----------------------------------------------------
Tooling Up for an RV-10 build.
Relocating to VA. Planning custom home build around RV workshop with wife's blessing!
My Website: www.propellerhead-online.net
RC Model Club: www.jcsportfliers.org
RC Bowling: www.rcbowling.org


Last edited by PropellerHead : 03-05-2010 at 02:10 PM. Reason: Rabbittitis
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  #13  
Old 03-05-2010, 03:54 PM
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Vlad Vlad is offline
 
Join Date: Oct 2008
Location: Utah
Posts: 8,151
Default Happy Birthday Bret!

Be healthy! Care of the family. And the kit will come, all this financial stuff is relative...
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Не имей сто рублей, а имей сто друзей.
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  #14  
Old 03-05-2010, 06:02 PM
Paul Thomas Paul Thomas is offline
 
Join Date: Jun 2005
Location: Fort Myers, FL
Posts: 483
Default

Happy BD and great decision.

My CC automatically pay off the balance every month so I don't have to worry about the rate; in fact, I don't know it. Going to 7 day is ridiculous, especially for those that are not on automatic payment. I would suggest using debit cards in that case.

In Europe, CC as we know it don't exist. A credit card is really a debit card, although they also have debit cards (only used at the bank).
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  #15  
Old 03-05-2010, 07:46 PM
MJarreau MJarreau is offline
 
Join Date: Apr 2007
Location: LA (Lower Alabama)
Posts: 267
Default Way to go!

Great decision, Bret! Hang on!
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  #16  
Old 03-05-2010, 08:38 PM
Robert Ramey Robert Ramey is offline
 
Join Date: Dec 2009
Location: Rose Hill, Kansas
Posts: 5
Default

Bret,

Difficult choice, I know, I?ve been there, but you made the right one. I have been lurking on this site for longer than I would like to admit and have wanted to build an RV for much longer than that. My family made a similar decision almost 2 years ago. One of the things holding me back from building was the financial aspect. With all of the other bills, I didn?t see how I could afford it. Now we are debt free (except for the house) with a 6 month emergency fund and I just received my RV-10 tail kit a couple of weeks ago. Life is good. The wait was worth it.


Hang in there,
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RV-10 Empennage
Rose Hill, KS
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  #17  
Old 03-06-2010, 05:57 AM
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carguy614 carguy614 is offline
 
Join Date: Aug 2007
Location: Shallotte NC
Posts: 594
Default 2 items of interest...

A touch off the beaten path, but worth a mention.
Look at BB&T for consumer banking and credit card. Very fair player, no gimmicks, no tricks. Strong company. Not a place to get a loan you can't repay.
I have used them several times for aviation financing, and found them very airplane friendly.
And....they broker aircraft insurance at competitive rates!

Regards,
Chris
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Chris Schmitt
Shallotte, NC
RV9A 90970 N614RV
Sold to nice folks in Texas and badly missed.
RV9 in progress
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  #18  
Old 03-06-2010, 07:31 AM
apatti apatti is offline
 
Join Date: Dec 2005
Location: Middle Georgia
Posts: 654
Default

After dealing with the "ALL hassles" card for about a year, we switched over to BB&T for a Visa card and it has been smooth sailing since. The other folks cancelled my card twice within a year for no reason. The last time, they told my wife (that is, after she finally got transfered to someone who speaky English) that I had called them and cancelled the card. Rubbish! Anyway, we wanted a card where if there was a problem, we could walk in to a local location and speak with someone face to face. We have our home loan and other accounts with BB&T as well. The only surprise has been when I withdrew $500 from an ATM once there was a $100 bill in the stack of $20's. Yeah, I took it back.

So, to answer the question they like to ask "what's in your wallet?" It ain't your credit card, that's for sure!

And, like someone else on this thread said, it is great if you get cash back or points or whatever with your card. You can make a lot of your RV parts purchases with the card and the savings really add up. We routinely get $100 gift cards to Target. When we use the cards I like to remind my wife to thank the airplane project! Just make sure to always pay in full each month. CC's are expensive money! Our's is set up to automatically draft our checking account each month. That way we don't forget.
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RV8A
N97AP
Warner Robins, GA
Phase I complete
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  #19  
Old 03-06-2010, 08:29 AM
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bret bret is offline
 
Join Date: Feb 2010
Location: Gardnerville Nv.
Posts: 2,828
Default

Well, it sure dose feel good to see 0s on my CCs this morning.
Got an invite yesterday to see a real RV in final build stage from Abrandt here on the Forums. Thanks again Andrew, really got excited to get started on my own one day. I think I am going to like this group of people here, where else can you go on the INTERNET and have a complete stranger invite you into there home. very nice experience, I think Ill stick around here for a while.
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  #20  
Old 03-06-2010, 09:05 AM
Mr. Mikey Mr. Mikey is offline
 
Join Date: Nov 2005
Location: Panama City, Florida
Posts: 58
Default

I've been a lurker on this site since '06. It's like therapy.

Anyway, I just had to break cover and post in this thread because debt has been my #1 hurdle for soooo long. I'm beginning to see light at the end of the tunnel, finally.

Now all I need is to build a workshop that can be used as a garage when the plane is done.
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