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Originally Posted by allan5oh
Personally I need one because nobody down there will take Canadian debit cards.
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Credit cards are a great tool for business, as long as one has the discipline to pay it off every month. Credit cards are JUNK? ***Only if you use them for vacations, trinkets, etc. Credit made this country what it is, the undeciplined are paying for their dues right now! God Bless all |
Originally Posted by tracer
Originally Posted by merrick4
I would suggest getting if possible a credit card (or two or three :D ) with 0% interest for 12 months. It's hard to have so much in reserve but good credit lines will help.
Just as an example, I just check my Amex account and the bill came out. It was $22,262.68 ($20,000 I used to buy the trailer and then just use the rest every month for the fuel and everything else except restaurant purchases with go on another card for 3% back). This is 0% for 12 months and this amount due for that was $430. Now to be honest I made a total of $6,800 in payments this month as the limit is only $28,000 and these fuel purchases add up and I want to keep using the card to get the cashback. But if I didn't buy a new trailer I would have had plenty of room to pay for fuel and just pay the minimum while I wait for the checks to come in if I so chose to. Of course it must be noted that this is a very risky thing and this strategy can put you in the hole real quick especially if you aren't the type to take the money you receive and pay bills first. By the way I just checked the cashback section, I made $5891.54 in "gas" purchases and got a total back of $294.58. Man that's like one free tank of fuel a month. If you want to increase your limit, max your card out make min payment for the 1st month, then when the second month is due pay it off, you will loose a few dollars the 1st month you use the min payment but it will make your credit limit raise quick and make your credit history improve . I started out with a 1000 limit 15 yrs ago,, never had a job that payed me more than 10.35 per hr and my limit is over 17,000 now after working it this way i just made sure i had cash to back it up every time i maxed it out! Take right now as of 2 weeks ago i bought a 2003 t-600 with no job in sight was unemployed when i bought it,,, but looking for a job right now . Even being unemployed my credit which isnt all that great still got me a 30,000 loan OKd through 2 companys, Wells Fargo at 13% 4year term 660.00 / month payment with 5,000 down. And OKd by VOLVO finance 5000 down 14.7% three year term 900.00/ month payment. Not bragging just saying a lot can be done with minimal credit rating and a credit card. |
BUMP!
O my how things have changed... I am a big bad X owner operator and sit on my happy ass most of the time wondering how in the world do the o/o's of today run in this economy. I pray for you folks. Never again will I won a truck. I am either going to be a company driver with a dedicated line haul for a reputable company who gives a **** about their drivers or I will refuse to work in the trucking business and do something else in my life. PERIOD. I have learned to draw the line and say screw you and your cheap bs pay. Good luck to all the rest who have no choice and if you wanna be an oo then do some homework! |
wow this was an oldie. Glad to see you saw the light and presumably got out before you went bankrupt and got divorced.
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Originally Posted by gcal
(Post 473439)
BUMP!
O my how things have changed... I am a big bad X owner operator and sit on my happy ass most of the time wondering how in the world do the o/o's of today run in this economy. I'm confused by this statement. If you're sitting happy who cares about everyone else. |
I didnt proof read it.
I wanted to say I am NOT a o/o but I do wonder who these guys survive in this economy. Typed faster then I could think LOL |
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