Money in the bank - Page 2

HungLikeJesus · 11-19-2010, 04:39 PM

Is she a kiss'n'teller?

footfootfoot · 11-19-2010, 04:56 PM

Thus my caution...

BigV · 11-19-2010, 05:54 PM

I have one of those too. Her name is Nina. So far, I have been unsuccessful in my attempts to persuade her to accept my direct deposit.

monster · 11-19-2010, 08:15 PM

She has a low interest rate, huh?

footfootfoot · 11-19-2010, 08:30 PM

She's concerned about the possibility of early withdrawal.

freshnesschronic · 11-20-2010, 01:15 AM

Sorry friends, I got a Chase account.

xoxoxoBruce · 11-20-2010, 02:37 AM

Went right to the root of all evil, huh. Hope you have better luck than I had... twice.

monster · 11-20-2010, 08:12 AM

Quote:

Originally Posted by freshnesschronic

Sorry friends, I got a Chase account.

Any fool can ask for advice.

Lamplighter · 11-20-2010, 01:19 PM

We recently had a significant breakdown on our car, and the repair bill was more than the free cash we had on hand.
So I signed up for a Goodyear credit card that gives interest free for 6 months. I will pay it off before 6 months.

BUT... If the account balance is not paid off within 6 months, the interest rate goes up over 29 %,
and the fine print makes it look as though that rate is back-dated to the original date of purchase.

I can't put into words the outrage I feel towards any company that would charge such rates.

If the TeaParty-ers are going to revolt on anything, the first priority should be against the credit card industry
and the US Supreme Court decision that effectively nullified all State laws on usury.

monster · 11-20-2010, 05:54 PM

If they say up front that's what's going to happen, I don't see the problem. Yup 29% is outrageous, but you know that when you get into it. If there's any doubt that's you'll pay it off, you don't take the deal. If you can't get any affordable credit, then you take the bus.

Lamplighter · 11-20-2010, 06:55 PM

Monster, there was no problem for me in terms of credit or cash.
The Goodyear credit card was a convenience for me until the end of this month.

The problem is that a 29+ % interest rate is more than outrageous,
and there is nothing to stop corporations from this usury.

By the way, "usury" in the dictionary is:

Quote:

the illegal action or practice of lending money at unreasonably high rates of interest.

But the US Supreme Court decision changed that definition, it is now:

Quote:

the legal action or practice of lending money at unreasonably high rates of interest.

I believe similar interest rates are to be found on many of the "company" credit cards, such as Goodyear.
I also suspect there are similar interest rates existing on the generic cards, such as Visa, MasterCharge, etc.

I further believe that most people who get into trouble with their credit are not truly aware
of all the fees and rates and conditions that come into play when an account balance is not paid in full
by the next date due.

It is just way to easy to excuse or ignore the situation by blaming the victims.

monster · 11-20-2010, 07:40 PM

I don't believe it's unreasonable if it's stated up front.

monster · 11-20-2010, 07:46 PM

Quote:

Originally Posted by Lamplighter

I further believe that most people who get into trouble with their credit are not truly aware
of all the fees and rates and conditions that come into play when an account balance is not paid in full
by the next date due.

But why are they not aware? Did they fail to read what they signed, or were they lied to?

Quote:

It is just way to easy to excuse or ignore the situation by blaming the victims.

bullshit. No victims here unless they were lied to. You sign something without reading it or without understanding it.... you get what you deserve.

It's OK not to understand something, it' s OK to ask questions. It's OK to walk away without signing. it's not OK to do whatever the fuck you what to get the shit you want without care of the consequences because it's something you can't actually afford.

Lamplighter · 11-20-2010, 08:42 PM

Has anyone ever actually read thru the "Notice of Terms and Conditions" for their credit cards ?

I recently got one for the Visa account we've had for about 40+ years.
It was one piece of paper printed on both sides in fairly small print...
folded and re-folded so there actually were 18 pages of printed material.
On other such "Notices" the print is so small I can't read it,
and on some the font is almost the same gray contrast as the paper.

That's part of what I mean by people not being truly aware because the companies
use these devises to overwhelm the reader and give up.
The other part is that people are probably being overly optimistic about their ability to re-pay their account.
So they don't even try to pay more than the "minimum payment",
even when they intellectually know the interest rate is excessive.

Maybe "unreasonable" is in the eye of the beholder, but there is an spreading impact
to all of us when others can not pay off their debt.

monster · 11-20-2010, 10:28 PM

yes, I read everything. If you don't, you're part of the problem.

18 pages? folded and refolded? I think they saw you coming. Or someone else is "checking" your mail. You say it was recent -could you scan and post it? I'd love to see that. It sounds like you are being targeted and may have grounds for a law suit. But I would say your experience is far from the norm. Sure, they don't want to you read it, but if you can't, ask for a larger print version, don't just sign it or ignore it. If you can't be bothered, caveat emptor.

Sorry, I have no time for stupid greedy people.

Being Overly Optimistic about your ability to repay is in the lottery players category. You play, you pay. No sympathy from me if you banked on winning a game of chance.

11-19-2010, 04:39 PM	#16
HungLikeJesus Only looks like a disaster tourist Join Date: Feb 2007 Location: above 7,000 feet Posts: 7,208	Is she a kiss'n'teller? __________________ Keep Your Bodies Off My Lawn SteveDallas's Random Thread Picker.

11-19-2010, 04:56 PM	#17
footfootfoot To shreds, you say? Join Date: Aug 2004 Location: in the house and on the street-how many, many feet we meet! Posts: 18,449	Thus my caution... __________________ The internet is a hateful stew of vomit you can never take completely seriously. - Her Fobs

11-19-2010, 05:54 PM	#18
BigV Goon Squad Leader Join Date: Nov 2004 Location: Seattle Posts: 27,063	I have one of those too. Her name is Nina. So far, I have been unsuccessful in my attempts to persuade her to accept my direct deposit. __________________ Be Just and Fear Not.

11-19-2010, 08:15 PM	#19
monster I hear them call the tide Join Date: Dec 2005 Location: Perpetual Chaos Posts: 30,852	She has a low interest rate, huh? __________________ The most difficult thing is the decision to act, the rest is merely tenacity Amelia Earhart

11-19-2010, 08:30 PM	#20
footfootfoot To shreds, you say? Join Date: Aug 2004 Location: in the house and on the street-how many, many feet we meet! Posts: 18,449	She's concerned about the possibility of early withdrawal. __________________ The internet is a hateful stew of vomit you can never take completely seriously. - Her Fobs

11-20-2010, 01:15 AM	#21
freshnesschronic Professor Join Date: Dec 2006 Posts: 1,555	Sorry friends, I got a Chase account.

11-20-2010, 02:37 AM	#22
xoxoxoBruce The future is unwritten Join Date: Oct 2002 Posts: 71,105	Went right to the root of all evil, huh. Hope you have better luck than I had... twice. __________________ The descent of man ~ Nixon, Friedman, Reagan, Trump.

11-20-2010, 01:19 PM	#24
Lamplighter Person who doesn't update the user title Join Date: Jun 2010 Location: Bottom lands of the Missoula floods Posts: 6,402	We recently had a significant breakdown on our car, and the repair bill was more than the free cash we had on hand. So I signed up for a Goodyear credit card that gives interest free for 6 months. I will pay it off before 6 months. BUT... If the account balance is not paid off within 6 months, the interest rate goes up over 29 %, and the fine print makes it look as though that rate is back-dated to the original date of purchase. I can't put into words the outrage I feel towards any company that would charge such rates. If the TeaParty-ers are going to revolt on anything, the first priority should be against the credit card industry and the US Supreme Court decision that effectively nullified all State laws on usury.

11-20-2010, 05:54 PM	#25
monster I hear them call the tide Join Date: Dec 2005 Location: Perpetual Chaos Posts: 30,852	If they say up front that's what's going to happen, I don't see the problem. Yup 29% is outrageous, but you know that when you get into it. If there's any doubt that's you'll pay it off, you don't take the deal. If you can't get any affordable credit, then you take the bus. __________________ The most difficult thing is the decision to act, the rest is merely tenacity Amelia Earhart

11-20-2010, 07:40 PM	#27
monster I hear them call the tide Join Date: Dec 2005 Location: Perpetual Chaos Posts: 30,852	I don't believe it's unreasonable if it's stated up front. __________________ The most difficult thing is the decision to act, the rest is merely tenacity Amelia Earhart

11-20-2010, 08:42 PM	#29
Lamplighter Person who doesn't update the user title Join Date: Jun 2010 Location: Bottom lands of the Missoula floods Posts: 6,402	Has anyone ever actually read thru the "Notice of Terms and Conditions" for their credit cards ? I recently got one for the Visa account we've had for about 40+ years. It was one piece of paper printed on both sides in fairly small print... folded and re-folded so there actually were 18 pages of printed material. On other such "Notices" the print is so small I can't read it, and on some the font is almost the same gray contrast as the paper. That's part of what I mean by people not being truly aware because the companies use these devises to overwhelm the reader and give up. The other part is that people are probably being overly optimistic about their ability to re-pay their account. So they don't even try to pay more than the "minimum payment", even when they intellectually know the interest rate is excessive. Maybe "unreasonable" is in the eye of the beholder, but there is an spreading impact to all of us when others can not pay off their debt.

11-20-2010, 10:28 PM	#30
monster I hear them call the tide Join Date: Dec 2005 Location: Perpetual Chaos Posts: 30,852	yes, I read everything. If you don't, you're part of the problem. 18 pages? folded and refolded? I think they saw you coming. Or someone else is "checking" your mail. You say it was recent -could you scan and post it? I'd love to see that. It sounds like you are being targeted and may have grounds for a law suit. But I would say your experience is far from the norm. Sure, they don't want to you read it, but if you can't, ask for a larger print version, don't just sign it or ignore it. If you can't be bothered, caveat emptor. Sorry, I have no time for stupid greedy people. Being Overly Optimistic about your ability to repay is in the lottery players category. You play, you pay. No sympathy from me if you banked on winning a game of chance. __________________ The most difficult thing is the decision to act, the rest is merely tenacity Amelia Earhart

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