I use my cash rebate c/c a lot, but I pay off everything month. I tried to buy a car using c/c and planed to pay off right way. But the dealer said NO! It’s what I could imagine. If I used c/c, the c/c company would charge the dealer 3-5%. That’s why the c/c company could give us 2% rebate!
If the dealer let you to use c/c to pay, they had to make sure they needed to charge you 3-5% more in order to cover the c/c company’s charge. So, you were the one who actually paid the 3-5%. Even after the max 2% rebate, you still over paid 1-3%. Unless, the dealer was willing to pay the 3-5% additional cost.
The dealer told me if they let me to use c/c, they had to charge me 5% more since they quoted me the cash price! They have already gave me good deal, there was no room for them to eat the 5% cost! I totally agreed with them since they needed to make their living.
Everything has a cost!
I have very high credit score, but my score was not a lot lower before I sold & paid of my 2 houses. The loan of my 2 houses was much more than a car loan. Credit score needs time and payment history to build up.
