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Senior Contributor
Posts: 3,528
Registered: ‎01-19-2009
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Re: Myth or Truth: Paying for Lunch on a CC Is Bad for You?

What about Breakfast? LOL I use my Chase Freedom for the 5% at restaurants every chance I get

Established Contributor
Posts: 538
Registered: ‎08-05-2009
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Re: Myth or Truth: Paying for Lunch on a CC Is Bad for You?

Everytime this topic comes up my emotions run wild.

 

I have a simple question...

 

Why would Amex or any other lender issue a merchant account to a establishment that that they don't want you to shop at?

 

Hell, use it anywhere you want to. Just pay your bill on time and you won't have a problem. If they do take AA it's likely something else is going on besides the fact you bought a cheese berger at McD's.

 

We use our Amex everywhere it's accepted. Walmart, McD's, Dollar Store, State and Federal taxes, property taxes, attorney. I even used it to pay a speeding fine. Never got a phone call from Amex asking why I'm shopping at the Dollar store or why I used their card to pay taxes.

 

My hope is this myth dies. But, I know, inevitably, it will come up again.

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Contributor
Posts: 150
Registered: ‎05-07-2013
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Re: Myth or Truth: Paying for Lunch on a CC Is Bad for You?

Thanks for all the responses everyone. Amex is one of the cards I want to get in the future, so that little insight about them does help.

Knowing that it's mainly a myth for the majority of lenders is indeed settling.

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Mega Contributor
Posts: 15,453
Registered: ‎04-09-2011
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Re: Myth or Truth: Paying for Lunch on a CC Is Bad for You?


ForumPheen wrote:

**Do point me in the right direction should a similar thread already exist**

 

I'd like to either confirm or debunk the myth that the kind of purchases you make on your credit card can and will have a negative impact.  For instance, I was once told long ago that using my credit card to pay for lunches at various fast food restaurants on a day to day basis could harm my account and bar me from credit line increases and etc.  Or using a credit card to make small purchases under $5 will hurt me.

 

Is this true?  


Total nonsense. Use the car for whatever your needs are.

 

Smiley Happy




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Contributor
Posts: 366
Registered: ‎02-25-2013
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Re: Myth or Truth: Paying for Lunch on a CC Is Bad for You?

[ Edited ]

lol.. yeh they are watching all of us!! so never use it an adult store on the side of the interstate... fireworks a big no no.. fertilizer uht uhhhhh.. i sense a lot of paranoia..

 

 

And if they are watching well then i wanna priceline with shattner on it.. all i wanna do is use it for star trek conventions.. Hair piece stores and Star Trek toys hahaha.. sounds highly illogical.. m\/n

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Valued Contributor
Posts: 1,599
Registered: ‎11-10-2012
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Re: Myth or Truth: Paying for Lunch on a CC Is Bad for You?


ForumPheen wrote:

**Do point me in the right direction should a similar thread already exist**

 

I'd like to either confirm or debunk the myth that the kind of purchases you make on your credit card can and will have a negative impact.  For instance, I was once told long ago that using my credit card to pay for lunches at various fast food restaurants on a day to day basis could harm my account and bar me from credit line increases and etc.  Or using a credit card to make small purchases under $5 will hurt me.

 

Is this true?  


This was a big myth with AMEX as well. All CCC make money with every swipe, so as long as you use their card and pay as agreed, where you use the card is irrelevant. This is just my opinion of course, I may be way off...Smiley Tongue

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Mega Contributor
Posts: 15,453
Registered: ‎04-09-2011
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Re: Myth or Truth: Paying for Lunch on a CC Is Bad for You?


indiolatino61 wrote:

ForumPheen wrote:

**Do point me in the right direction should a similar thread already exist**

 

I'd like to either confirm or debunk the myth that the kind of purchases you make on your credit card can and will have a negative impact.  For instance, I was once told long ago that using my credit card to pay for lunches at various fast food restaurants on a day to day basis could harm my account and bar me from credit line increases and etc.  Or using a credit card to make small purchases under $5 will hurt me.

 

Is this true?  


This was a big myth with AMEX as well. All CCC make money with every swipe, so as long as you use their card and pay as agreed, where you use the card is irrelevant. This is just my opinion of course, I may be way off...Smiley Tongue


Your spot on. Smiley Happy




EQ FICO 548 3/3/16
Established Member
Posts: 23
Registered: ‎05-11-2013
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Re: Myth or Truth: Paying for Lunch on a CC Is Bad for You?

They want you to wear your card out, always pay on time, and never redeem your reward points.


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Mega Contributor
Posts: 15,453
Registered: ‎04-09-2011
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Re: Myth or Truth: Paying for Lunch on a CC Is Bad for You?


PersonalBanker89 wrote:

They want you to wear your card out, always pay on time, and never redeem your reward points.


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EQ FICO 548 3/3/16
Super Contributor
Posts: 7,132
Registered: ‎02-27-2013
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Re: Myth or Truth: Paying for Lunch on a CC Is Bad for You?


OnTheRebound wrote:

Everytime this topic comes up my emotions run wild.

 

I have a simple question...

 

Why would Amex or any other lender issue a merchant account to a establishment that that they don't want you to shop at? They have to issue it as long as the merchant abides by all federal and state laws, and whatever terms & conditions Amex has for merchants. Amex can't cherry pick. Otherwise, they'll get into all kinds of discrimination lawsuits regardless of whether that is their intent. The legal fees and time invested into those lawsuits are just going to be crazy even if they do win those suits. 

 

Hell, use it anywhere you want to. Just pay your bill on time and you won't have a problem. If they do take AA it's likely something else is going on besides the fact you bought a cheese berger at McD's.

 

We use our Amex everywhere it's accepted. Walmart, McD's, Dollar Store, State and Federal taxes, property taxes, attorney. I even used it to pay a speeding fine. Never got a phone call from Amex asking why I'm shopping at the Dollar store or why I used their card to pay taxes.

 

My hope is this myth dies. But, I know, inevitably, it will come up again.


I answered in red about the question you asked. Not related to the OP's topic about whether it is good or bad for you to use your Amex anywhere.

 

Amex use whatever and wherever you charge as an internal scoring method to match targetted promotions at you. Other lenders may or may not do this. This score is mostly for marketing purposes only.

In most scenarios there is also a DIFFERENT internal score that decides whether you get approved / declined for applications or any CLI requests.

 

To answer OP's topic again......nope it's not bad for you. use it as much as you can wherever you can. 

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