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RE: Credit Card rant - 8/5/2008 11:59:29 AM   
cloudboy


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Joined: 12/14/2005
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Credit cards are specifically designed to lead you into late fees and interest charges.

As for fixed interest rates, good luck figuring out the contingencies such rates depend upon.

(in reply to sblady)
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RE: Credit Card rant - 8/5/2008 12:32:40 PM   
Kindandcruel


Posts: 27
Joined: 5/29/2005
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quote:

ORIGINAL: cloudboy


Credit cards are specifically designed to lead you into late fees and interest charges.

As for fixed interest rates, good luck figuring out the contingencies such rates depend upon.


That may be true but who is the person the is ultiamtely responsible? Is it the banks responsibility to tell you not to get their card? No (unless you are a liberal since they lack the ability to be self responsible). Point being this: you are responsible for everything in your life... if you don't want the credit card scam affecting you then do this... "DON'T GET AND USE A CREDIT CARD!!!" But if you just have to have the card and the credit score and such then accept the responsibility that it was your choice to take the card. It was never forced down your gullet... you accepted it freely by your own decision and choice. So if you get burned, then learn your lesson and make better decisions next time.

(in reply to cloudboy)
Profile   Post #: 22
RE: Credit Card rant - 8/5/2008 1:00:24 PM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline
quote:

ORIGINAL: Kindandcruel

quote:

ORIGINAL: cloudboy


Credit cards are specifically designed to lead you into late fees and interest charges.

As for fixed interest rates, good luck figuring out the contingencies such rates depend upon.


That may be true but who is the person the is ultiamtely responsible? Is it the banks responsibility to tell you not to get their card? No (unless you are a liberal since they lack the ability to be self responsible). Point being this: you are responsible for everything in your life... if you don't want the credit card scam affecting you then do this... "DON'T GET AND USE A CREDIT CARD!!!" But if you just have to have the card and the credit score and such then accept the responsibility that it was your choice to take the card. It was never forced down your gullet... you accepted it freely by your own decision and choice. So if you get burned, then learn your lesson and make better decisions next time.



I agree.  I think the Wall Street heads ought to be hung!   First they lie on the balance sheets- then want deregulation, then expect a bail out. I for one am done bailing out Wall street.  It is time for interest rates to rise to more the 2% as the lower rate has not been passed onto the peon.

Even Wall Street doesnt trust Wall Street balance sheets@!

(in reply to Kindandcruel)
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RE: Credit Card rant - 8/5/2008 1:11:50 PM   
E2Sweet


Posts: 649
Joined: 7/8/2008
From: TopLeftCornerOf, OH, USA
Status: offline
quote:

ORIGINAL: Kindandcruel

...(unless you are a liberal since they lack the ability to be self responsible)...


<deleted>

Yea, on second thought, I figure I'd better just let this one go...


< Message edited by E2Sweet -- 8/5/2008 1:24:51 PM >

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Profile   Post #: 24
RE: Credit Card rant - 8/5/2008 1:53:25 PM   
cloudboy


Posts: 7306
Joined: 12/14/2005
Status: offline
quote:

That may be true but who is the person the is ultiamtely responsible? Is it the banks responsibility to tell you not to get their card? No (unless you are a liberal since they lack the ability to be self responsible). Point being this: you are responsible for everything in your life... if you don't want the credit card scam affecting you then do this... "DON'T GET AND USE A CREDIT CARD!!!" But if you just have to have the card and the credit score and such then accept the responsibility that it was your choice to take the card. It was never forced down your gullet... you accepted it freely by your own decision and choice. So if you get burned, then learn your lesson and make better decisions next time.


You are missing the point, which is that credit cards are specifically designed to lead people into high interest rates and late fees. This is where the issuers of the card want their clients ending up. Due dates are picked after weekends, people with lower incomes are given huge credit lines, & fixed interest rates are a fiction. None of this is an accident, its all deliberate.

Its true a cardholder can be vigilant, but that's OT.

< Message edited by cloudboy -- 8/5/2008 1:56:01 PM >

(in reply to Kindandcruel)
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RE: Credit Card rant - 8/5/2008 3:49:51 PM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline
quote:

ORIGINAL: E2Sweet

quote:

ORIGINAL: Kindandcruel

...(unless you are a liberal since they lack the ability to be self responsible)...


<deleted>

Yea, on second thought, I figure I'd better just let this one go...




I suppose some woman would find his manner as attractive.   I dont.     L is a bad word.....  gag me. 

(in reply to E2Sweet)
Profile   Post #: 26
RE: Credit Card rant - 8/5/2008 3:58:51 PM   
thornhappy


Posts: 8596
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quote:

ORIGINAL: E2Sweet

quote:

ORIGINAL: Kindandcruel

...(unless you are a liberal since they lack the ability to be self responsible)...


<deleted>

Yea, on second thought, I figure I'd better just let this one go...


On third thought, I'll follow.  But it hurt my fingers to do so!

thornhappy

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Profile   Post #: 27
RE: Credit Card rant - 8/5/2008 5:11:24 PM   
sblady


Posts: 433
Joined: 9/28/2007
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quote:

ORIGINAL: slaveboyforyou

quote:

Before I began my rant, I know some people do not have credit cards, loans, and can pay cash for every transaction.  That's a wonderful thing and hopefully I'll be there one day.  


If you think that getting a credit card to pay off debts is the solution to your debt woes, than you'll never get there.  I am not going to baby talk you; you're being irresponsible.  You should have cut up all your credit cards the moment you found yourself in all this debt.  You can't get yourself out of debt by accruing more debt with a credit card.  In plain English, you made a stupid error.  I am not going to sympathize with you for being irresponsible. 

I've never had a credit card, and I never will.   I've only leased a car once in my life, and I'll never do it again.  I only buy things with money that I have. The only thing I will ever go into a usury arrangement on is a home.  Stop being irresponsible and take control of your life.  Cut up all your credit cards and deal with your debt.  If you have to declare bankruptcy, than do it.  You're not going to credit yourself out of the mess you've created. 


You know, I'm going to respond to your post first and foremost.  Not that I owe you or anyone else an explanation as I didn't ask you to pay my bill and I'm not asking for your sympathy.  My debts aren't so severe that I can't handle them and I'm far from having to declare bankruptcy. If you can read and comprehend my original post, I didn't say nor imply that the new credit card would miraculously get me out of debt.  Nor did I say I created a mess.   I can, however, understand that having a credit card with a much lower interest rate will allow more of my funds to be applied towards the principle balance.  You can't cut up a loan, which is what made me decide to get the credit card.  What you consider stupid, I considered a smart move.  Again, if you look at my original post, you will see what my plans are for the new credit card.   The thing about your response is that I feel it's stupid to be so judgmental and self-righteous, especially since you don't know me and are assuming I'm being irresponsible. I'm very proud of your diligence and ability to live debt free.....I applaud you.  Your situation and my situation are most likely as identical as pineapples and oranges.   That being said, I'm happy to know at least one person in the world, albeit from a message board who has no money woes.  You're very blessed.  Count them everyday.  Oh, by the way....plan on never getting ill and having to start over with $200,000.00 worth of medical bills.  Also, God forbid, don't have to take a new job making less than a 3rd of what you normally made because of your illness.   Peace and joy to ya!! 

(in reply to slaveboyforyou)
Profile   Post #: 28
RE: Credit Card rant - 8/5/2008 7:33:28 PM   
bipolarber


Posts: 2792
Joined: 9/25/2004
Status: offline 		A few other things that most people don't realize:

Your credit card is directly linked to your mortgage, and vice versa... you miss a payment on a CC, and your house payment will go up, (and any other loans you may have)

Credit cards are the only form of transaction that allows the person selling the merchandise, to change the price after the transaction. (They can alter your interest rate at any time, on a whim.)

Oh, and only slightly off topic, this afternoon, the "justice" department indited a string of individuals for CC fraud. Apparently, it's become a fad in the ID theft world to simply park a van outside a business that advertises free wi-fi connections, and let their laptops listen in for CC numbers being transmitted whenever a purchase is made at that site. I guess about two dozen people managed to steal 40,000,000 credit card numbers in the last three years! (No, I didn't misprint that... 40 million credit cards!)

And people wonder why I don't use the cursed things!


(in reply to sblady)
Profile   Post #: 29
RE: Credit Card rant - 8/5/2008 10:39:10 PM   
L8bloomer


Posts: 480
Joined: 6/1/2008
From: Your imagination
Status: offline
quote:

ORIGINAL: slaveboyforyou

quote:

Before I began my rant, I know some people do not have credit cards, loans, and can pay cash for every transaction.  That's a wonderful thing and hopefully I'll be there one day.  


If you think that getting a credit card to pay off debts is the solution to your debt woes, than you'll never get there.  I am not going to baby talk you; you're being irresponsible.  You should have cut up all your credit cards the moment you found yourself in all this debt.  You can't get yourself out of debt by accruing more debt with a credit card.  In plain English, you made a stupid error.  I am not going to sympathize with you for being irresponsible. 

I've never had a credit card, and I never will.   I've only leased a car once in my life, and I'll never do it again.  I only buy things with money that I have. The only thing I will ever go into a usury arrangement on is a home.  Stop being irresponsible and take control of your life.  Cut up all your credit cards and deal with your debt.  If you have to declare bankruptcy, than do it.  You're not going to credit yourself out of the mess you've created. 


Gawd slaveboy....I'm already having fantasies about you and now you go and give the OP a lecture...and it gives you sort of a dominant tone...and that just feeds the fantasy! *big grin* Don't worry...I know you're not a dominant. I shall keep my fantasies to myself. ;)


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RE: Credit Card rant - 8/5/2008 11:12:09 PM   
L8bloomer


Posts: 480
Joined: 6/1/2008
From: Your imagination
Status: offline
quote:

ORIGINAL: pahunkboy


I like Susie and she has some good advice.  I tho- have been closing extra accounts- and getting rid of secured visa cards. The amount of errors seem to be increasing and I am too stupid to know all the fees and consequences. So I am eventually going to dump them all together.


Suze's point was to cut up the card, but not close the account. It's like not having a credit card, because you aren't using it, but by leaving the account open, it won't affect your FICO score. Besides...after not using it, the credit card company will probably close the account out at some later date.


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RE: Credit Card rant - 8/5/2008 11:15:19 PM   
L8bloomer


Posts: 480
Joined: 6/1/2008
From: Your imagination
Status: offline
quote:

ORIGINAL: sub4hire

quote:

ORIGINAL: L8bloomer

I watch Suze Orman and she says that once you have a credit card, you shouldn't close it because it will affect your credit score. She advises to just cut up the card and not use it, but not to close the account. You may want to look into this before you do close that card.



A financial analyst will tell you the opposite.  Mine did about a year ago when I told him I had 2 credit cards.
Reason being is simple, we just don't think about it.  With the account open that credit is easily used by you.
So, if trying to buy a house...etc...they look at how much available credit you have..then look at your income.
If you "can" have 300,000 in debt and are looking at a hefty mortgage..they also look at your salary and decide if you can afford it all.
If you can't well we all know what happens then.  With a closed account, sure you can re-open it but the banks don't see how much available credit you have to use at any whim.



Holy cow...I'm not in that sort of league!

The one thing I don't understand though is why having credit is such a temptation for people. Just because you have it doesn't mean you need to use it. I guess I don't look at it like it's free money as so money people tend to do. *shrugs*


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RE: Credit Card rant - 8/5/2008 11:25:44 PM   
L8bloomer


Posts: 480
Joined: 6/1/2008
From: Your imagination
Status: offline
quote:

ORIGINAL: sblady
Oh, by the way....plan on never getting ill and having to start over with $200,000.00 worth of medical bills.  Also, God forbid, don't have to take a new job making less than a 3rd of what you normally made because of your illness.   Peace and joy to ya!! 


That's why this country should have socialized medicine. I think the USA could do it and do it more cheaply than the current system (if you can call it that). *bites tongue realizing she's going way OT here*

Yeah, I think the credit card company you were dealing with is really unethical. And it's a sad truth that greed has become such a motivating factor for big business.

quote:

ORIGINAL: bipolarber

I guess about two dozen people managed to steal 40,000,000 credit card numbers in the last three years! (No, I didn't misprint that... 40 million credit cards!)

And people wonder why I don't use the cursed things!




Yikes!



Sorry for the multiple posts...I didn't think I'd have anything to say...otherwise I would have consolidated everything into one post. Apologies!



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Profile   Post #: 33
RE: Credit Card rant - 8/6/2008 12:12:57 AM   
Vendaval


Posts: 10297
Joined: 1/15/2005
Status: offline 		This site has a list of different agencies in your state.

http://www.michigancreditcounselors.com/

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Profile   Post #: 34
RE: Credit Card rant - 8/6/2008 3:56:48 AM   
slaveboyforyou


Posts: 3607
Joined: 1/6/2005
From: Arkansas, U.S.A.
Status: offline
quote:

Gawd slaveboy....I'm already having fantasies about you and now you go and give the OP a lecture...and it gives you sort of a dominant tone...and that just feeds the fantasy! *big grin* Don't worry...I know you're not a dominant. I shall keep my fantasies to myself. ;)


*smiles*  Please share my dear, I do switch on occasion.  I hear Hawaii is nice this time of year.  *grins*

(in reply to L8bloomer)
Profile   Post #: 35
RE: Credit Card rant - 8/6/2008 4:49:05 PM   
sblady


Posts: 433
Joined: 9/28/2007
Status: offline 		 
From the responses received to my original post, I decided that perhaps I should clear up a few things:

The post was a credit card rant....nothing more.  It was not my intention to cause some to believe that my financial status is in jeopardy, as it is not. 

I appreciate all the responses as my written rant was very cathartic.

(in reply to sblady)
Profile   Post #: 36
RE: Credit Card rant - 8/6/2008 10:42:21 PM   
L8bloomer


Posts: 480
Joined: 6/1/2008
From: Your imagination
Status: offline
quote:

ORIGINAL: slaveboyforyou

quote:

Gawd slaveboy....I'm already having fantasies about you and now you go and give the OP a lecture...and it gives you sort of a dominant tone...and that just feeds the fantasy! *big grin* Don't worry...I know you're not a dominant. I shall keep my fantasies to myself. ;)


*smiles*  Please share my dear, I do switch on occasion.  I hear Hawaii is nice this time of year.  *grins*


Oh don't tease! You could easily have me swooning at your feet. Hmmm...maybe I should ask you what sort of switching activities you enjoy. But the visions in my head are quite yummy.

As for Hawai`i......it tends to be hotter in the summer months...and oh my...I'm not sure I could handle hotter than that! I would probably turn into a puddle. I'm already fanning myself just thinking about it. ;)


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RE: Credit Card rant - 8/7/2008 6:38:00 PM   
JohnSteed1967


Posts: 304
Joined: 5/29/2005
From: Columbia SC
Status: offline 		I want America back on the Gold Standard NOW! Just think what that would do to the World Econ!

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Profile   Post #: 38
RE: Credit Card rant - 8/7/2008 8:51:43 PM   
EvilGenie


Posts: 1323
Joined: 9/10/2007
From: Morocco and Maine occasionally
Status: offline 		Yeah no kidding John. I live overseas and receive US funds. They aren't worth shit anywhere right now! As to living credit free, it is not recommended. Paying cash for everything gives one no credit rating which is just as bad as having a bad rating. You've got to have something in there. Using credit to live above one's means though is just as silly. OP I am not referring to you, just making a general statement.

Best,

EG

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Profile   Post #: 39
RE: Credit Card rant - 8/9/2008 6:35:20 AM   
windchymes


Posts: 9410
Joined: 4/18/2005
Status: offline 		What's been pissing me off is my HSBC account.....I pay the bill online, and if I pay way ahead of the due date, then everything's fine, they post the payment the next day.  However, if I try to pay it 3 TO 4 DAYS BEFORE the due date, suddenly, they find it impossible to post my payment on the next, or the next, or even the next business day.  No, now they'll charge $12.95 for a "rush payment", and will credit it to your account on time only then, to avoid the "late fee".  No, if you pay it several days BEFORE the due date, you only have to pay half a late fee. 

That card's getting paid off very shortly and that account WILL be cancelled.

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