Credit Card Bonanza - Lead Me Not Into Temptation!!

[sathor]

Well, everyone know the statement, 'you can't take it with you.' Applies to credit debt, too; you leave it behind! And the credit card companies have to write it off.

Now in saying all that, I don't advocate taking on more than you can reasonably pay off in a reasonable time.

Funny thing, that. You see, if they don't write off some of it, it could never be paid. Here's the thing, forgetting the part about banks lending out money they don't have and doesn't exist aside, if they charge interest, and the system is a closed system (effectively we have a closed system, since the creation of money in the States involves 'loans' and interest) then there can never be enough money to repay all the loans. IE, in an overly simple way, If I borrow $10 and have to pay a dollar as the interest, they never gave me that dollar. I have to get it from somewhere else, which following the trail, had to be lended in. If I pay back that dollar, there is 1 less dollar to pay back to the banks, and someone somewhere in the chain is going to have to default. The darker side? The more loans at higher interest, the more HAVE TO DEFAULT to keep the system working. Think how much credit cards suck the money out of the system, which then is reloaned and continues the siphoning...

[Tommie]

Except for the 3 digit CVC code and the exp date.

The new interest just kicked in on one of my cards, went from 9 to 25 percent, they said I had bad credit history, which is funny that they figure that after 2 years on their 'bad history rebuilding credit card'

A week before that, the gave me another card with a lower rate and benefits. Once I get the old one paid off... I kid you not, 50% of my last payment went to interest, used to be a mere fraction. I haven't even used them in a few months, but anyways...

Yikes sathor.
Cut that card up into itty bitty pieces an wait until some other bank sends you a lower interest card.
Then pay off that high interest card with a balance transfer to your new card.
Have done this several times until I get the rate i want.
Believe it or not,your credit will go up after paying off a card even if you do just transfer the balance to another card.

[Tommie]

I removed the post...so not to worry...don't think about it
Cheers
Robert

WHAT POST????? Did i miss something.
Tell me you were NOT giving away leather kilts at half price.

[Carolina Kiltman]

Having grown up in the tail end of the Great Depression, I have always been super leery, not only of Credit Cards, but also of banks!

Here in NC we have a wonderful Credit Union for the State Employees and their families. A few years back, when they started up their ATM's the cards issued were Debit/Credit cards. The money comes out of the checking account.

As long as you keep good records, there is no interest, no annual fee, all merchants will accept it either as a debit or credit card. (Of course you cannae run into the hole. . . .) I'm very satisfied with it.

Lead yourself NOT into temptation! And ye shall avoid the evil of high interest rates.

[Derek Conley]

Credit Card Companies = EVIL INCARNATE.

[sathor]

Yikes sathor.
Cut that card up into itty bitty pieces an wait until some other bank sends you a lower interest card.
Then pay off that high interest card with a balance transfer to your new card.
Have done this several times until I get the rate i want.
Believe it or not,your credit will go up after paying off a card even if you do just transfer the balance to another card.

I think they really did it because for the first year or so that I had it it ALWAYS got paid off. I think they worry that I'll start doing that again. Once a few things balance out again... (My wife lost her job in the middle of summer after giving birth, things are just balancing out after buying 2 kilts and her 200 ren fest dress and then a new radiator on her car and a new tire....)

The worst part is that I keep getting card offers for cards that are far worse than I have, and with 3 cards with no late payments or going over the limit, I know I deserve better offers than that.

[Cherub]

I end up calling myy credit card companies every year to lower the credit bump that they give me every year and this after i've told them every year to leave it where it is if i want or need an increase I'll ask for it, and now every year I tell them to read the notes on my account and tell their computers to go @*#k off.

sorry for the rant but i've got like 3 or 4 pages of notes on my account nd it gets old after a while.

[Robert Lamb]

I have only one credit card. It with the bank I use and they have on line banking.
My S/S money is deposited in my checking on the second Wed each month.
The first thing I do is to transfer the amount owed on my account that very day from my checking to my credit card account paying it in full.
I get to use there money for part of the month and I pay no interest or service charge....
Free money for a few weeks, Wonderful.

[Kiltedfirepiper]

if I know I'm going 6 feet under my plan is to get a HUGE credit card transfer all my debts to it and get the insurance on it so WHEN I kick the can it'll all be paid off, and my family doesnt get stuck with it