Posted on 03/25/2010 2:43:08 PM PDT by 2Jedismom
The banks aren’t giving out any loans and their credit cards have rates that are higher then a loansharks so who really cares what their FICO is as far as that goes. You aren’t going to be getting a loan for anything and who the hell needs credit from a bank-under Obamacare it will be cheaper to get one from a loanshark. He will break your knee if you don’t repay and you will get your knee fixed for “free” with Obamacare-that makes it cheaper then a 30% interest credit card.
Once you get your loans/credit cards paid off and go to a cash only system you will be surprised how much money you have...well, until the Corruptocrat taxapalooza kicks in that is.
Credit FTW. If I lose cash, it’s gone. If I lose a credit card, it’s an inconvenience. They have much stronger fraud protection than debit cards. A temporary authorization isn’t going to put a hold on the funds in my checking account. I get to borrow money for 30 days at no charge. If there’s an emergency, I can revolve a balance as long as I can meet minimums. What’s not to love?
You should be able to change that my having your bank remove the limit. That is if you want to. My son paid for over $4000 worth of fun stuff for his truck with his.
Well it has the added benefit of not giving those filthy/greedy banks Obama supporting banks any profit off my purchases.
I heard there is a new rule that allows CC companies to charge interest from the DAY of purchase, not after 30 days, is that true?.
I used to use a CC,(always paid off) but I now only use Debit and cash.
Ditto that anything you do with your wealth, which may have to be redefined, i.e things that help you survive (the coming collapse...)
Going Galt via seld sufficency apparatuses (chain saws, generators etc) purchased quietly with cash may go un-noticed by the nanny state.
What happens to your FICO score when the government starts forgiving your debt, either through these mortgage refinancing or work for the government for debt repayment?
Good one. LOL.
Those utilities that you pay all affect your credit rating.
Nope, no evidence of economic depression here. /sarc
Good points.
In over 20 years of using a Visa/Debit card, I’ve only had one merchant take issue with it.
And that was a time share condo who wanted a real credit card.
I told them to p*** off.
Heh heh!
I think it’s an interesting thread!
Hubby and I were just talking the other day that at least for now we’re in better shape than we were 2 years ago. We decided when it looked like the dems were going to tank the economy and that BO was going to get elected that we ought to get our finances in order. I don’t now why...stability maybe?
Some very well might, I dunno. I am an USAA member, they seem to be pretty good, current rate on my cc is 6.00 per cent. They don’t seem to pull all the tricks that some credit issuers do, and that sure sounds like one of them!
The reason you don’t want to use a debit card is (potentially) you can be cleaned out of your entire account in short order. (Yes, you’ll probably have those funds replaced, but it may take some time and an investigation)
It just doesn’t make sense to me, at all, but banks push these cards, and they look just like a credit card, etc.
Using a credit card account puts a layer of security between your money and possible fraud. One can also reverse the charges if there is a problem with the item or non-delivery. Try that with cash or debit!
Oh, I bet they *loved* you!
Anytime a smart guy throws a beauracrat a logic-bomb is OK with me! (although 45 seconds ought to be enough time, I tend to the 0.45 seconds kinda guy)
Seems like a lot of older folks go inside the bank, or use one of those pneumatic tube deals and talk with the tellers. I was “poor” for a long time and was a little self conscious about banks, so even today I try to avoid banks. I remember when ATMs first started getting real common, the spin then was how it would save banks all this money, by not hiring so many tellers.
Note today, they nickle and dime people with an “outside” ATM, and the state even charges sales tax on the “sale”. Hm.
Or those who choose not to support credit card companies and their predatory policies.
If you have a Williams-Sonoma outlet store in your area, check them out. I just bought my All-Clad at 40-60% off retail. Congrats on your cashback deal, but mine was less of a hassle. ;)
Also true.
Which is why I keep minimal funds in it. If I lost that money,,, no big deal. I don't mind living with that trade off for its convenience.
Using cash is a great way to ensure that you are acting your wage!
Thanks 2Jedismom for the ping.
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