50% of Americans Couldn't Come Up with $2000

[Fair&Balanced]

Originally Posted by infinite monkey

This'll be good.



It's like someone telling me how financial aid works and what the regs are because something happened one time to them or to their friend's dog and that is how it works because that is how it works.

GO J!

disclaimer: I ain't on any side...I have no clue about any of it.

The initial charge of FALSE was not based on what happened to him or them or his friends, but the old "Google is your friend" defense.

Pet peeve - Google is not your friend. It is a tool and only as friendly as your interest in using it wisely and thoroughly, not superficially and selectively.

[infinite monkey]

disclaimer: I ain't on any side...I have no clue about any of it.

In other words: I ain't on any side. I have no clue about any of it.

(you don't need to explain sketchy cellar debating techniques to me.)

[Fair&Balanced]

Originally Posted by infinite monkey

This'll be good.



or to their friend's dog...

I'm holding the "my friend's dog ate the evidence" in reserve.

[infinite monkey]

[classicman]

I shared what my personal experience was. I also stated facts and corrected some bad information. It is very easy to support that it can and has happened. Info is available all over the internet about the fact that they cancel them and some info about why. Take for what it is.

I never said all the time, every case, always... just that they can and do cancel dormant cards.

[Happy Monkey]

I have a credit card that I never use, and they haven't canceled it yet. Just because some companies do it doesn't mean that tw's statements are false.

Especially if you look at the wording:

First, one has a credit card, does not use it, and therefore has no monthly payments.

That's me.

A credit card that you have and do not use can cost nothing.

Note the can. Also me.

Anybody can afford a credit card by not using it.

Note the afford. I've got a card that I don't use, and costs me nothing, so obviously anyone could afford that (unless they're shopaholics who can't afford to have a credit card available or they'll max it out). You could read more between the lines of tw's post, and argue that it would be hard for some people to get the card in the first place, but that's not a direct contradiction of anything tw said.

As long as there are still cards that aren't canceled through inactivity, tw's statements are true.

[glatt]

Originally Posted by classicman

I never said all the time, every case, always...

Yes you did. That's what your "False" means when tw says it can happen. You were saying it can't.

It turns out everyone is on the same page now, and the arguing was for nothing. You are agreeing now with tw that it can happen.

[Happy Monkey]

Even if, in the future, there are no cards left that can be held dormant, you can use them for many purchases you would otherwise pay cash for, and not carry a balance, and still have it cost nothing more than stamps.

Maybe some day you won't be able to get a card unless you promise to carry a balance or pay a monthly fee, but it's not here yet.

[glatt]

Originally Posted by Happy Monkey

Maybe some day you won't be able to get a card unless you promise to carry a balance or pay a monthly fee, but it's not here yet.

When that happens, I'll go back to writing checks or paying cash.

[infinite monkey]

If anyone wants to borrow part of my balance (you know, just so you keep your card...really, I'm thinking of YOU) I will help you out.

PM ME!

[Trilby]

Still, though: Capital One is teh debbil.

[classicman]

I stand corrected...

My humblest apologies.

[Spexxvet]

On behalf of everyone, I accept your apology.

[tw]

Meanwhile, Stormieweather described a process that everyone should aspire. A process of moving from debtor to creditor means maintaining a cash flow without 9% and 20+% interest rates.

Originally Posted by Stormieweather

I've spent the last decade (since a nasty divorce and subsequently losing my job) getting square again, financially. I work two jobs, make decent money, RENT a nice house and have no credit card debt. My only debt obligation is 1 car payment. It will be paid off in 2 years and I do not plan to ever finance a vehicle again.

Why would 50% not be able to pay $2000 today? Does that mean 50% are even maxxed out on credit cards? That article does not say - is too subjective.

I believe most can get $2000 at any time. Even a loan shark is an alternative. The article is probably ignoring loan sharks, the 'get money today for your future tax refund' outlets, and other emergency money outlets. But again, we cannot say for sure. The article does not define 'the edge'. Does it even ignore a loan shark option?

More important. Do 50% have no grasp of financial responsibility demonstrated by Stormieweather? The article implies that. I find it difficult to believe 50% are that financially ignorant.

Stormieweather defines what every financially responsible adult aspires. To move from debtor to creditor. Anyone working towards that goal could easily obtain $2000. But resulting fees, penalties, and interest charges would be a setback to the lifelong task of 'moving from debtor to creditor'.

50% of Americans could not even get money from a loan shark? I find that difficult to believe. But again, hard numbers remain unknown. Still it is curious (or distressing) that so many still have so little. Or have been so manipulated by advertising as to make Capital One so profitable.

[Sundae]

Originally Posted by tw

50% of Americans could not even get money from a loan shark? I find that difficult to believe. But again, hard numbers remain unknown. Still it is curious (or distressing) that so many still have so little. Or have been so manipulated by advertising as to make Capital One so profitable.

I think loan sharks were probably not counted, alongside money-making schemes like selling a kidney, whoring kidnapping or becoming a drug mule for the money.

Of course I may be wrong, just guessing.