bailout question
- Thread starter Mickey
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I know I do but it irritates the fuck out of me to know that I'm paying twice. I found an awesome article that somebody wrote in to Citi. http://www.wickedlocal.com/newton/news/opinions/x1851000212/Kane-An-open-letter-to-Citibank-re-my-student-loan
Never fall for the TRAP of some "payment holiday". Yes, they're still charging you interest and want people to probably think it's o.k. to miss payments or just forget to make payments.
I don't know how you're paying twice for something. You bought something- you pay for it. Except you didn't pay for it- your credit card payed for it and you have to pay the bill.
As far as companies getting bailouts....well the taxpayers are also all buying a little bit of GM and Chrysler then too, lol. And don't forget we've been at war on multiple fronts for how long now? That isn't free or cheap. But anyway....unless your taxes are raised you're not paying more than your fair share than you were before. We're just passing the buck to our children to take care of, because we as a nation lived well beyond our means and can't get our healthcare/economy in good fucking order. Lucky them.
I don't know how you're paying twice for something. You bought something- you pay for it. Except you didn't pay for it- your credit card payed for it and you have to pay the bill.
As far as companies getting bailouts....well the taxpayers are also all buying a little bit of GM and Chrysler then too, lol. And don't forget we've been at war on multiple fronts for how long now? That isn't free or cheap. But anyway....unless your taxes are raised you're not paying more than your fair share than you were before. We're just passing the buck to our children to take care of, because we as a nation lived well beyond our means and can't get our healthcare/economy in good fucking order. Lucky them.
yah well, i've had an amex card in some form since 2002. i never use cash, i put everything on my card. i also used my card for work and traveling. from 2002 to today i've put 200k through amex if not more. i've always paid off my balance in full. today i have 2 cards, a blue and a business (personal, not corporate) - 1 year ago i had a 24500 limit on the blue and a 20000 limit on the business. today i have 500 on the blue and 1800 on the business. 44500 limit down to 2300. if i make any purchase of significance i can easily not go the month just using this one card. pisses me off to no end.
on one hand i understand it - i borrowed a ton of money at 0% on cards to speculate (this is dumb, don't do it) - the thing is that i'm paying it all back and on time though. after march i'll have paid back like 50k of 80k all on time. it's retarded because i started with a credit score of like 740, i'm going to borrow 80k and pay it back within a year while incurring no late fees or finance charges, and after that my credit score and credit limit will have gone down significantly. retarded
on one hand i understand it - i borrowed a ton of money at 0% on cards to speculate (this is dumb, don't do it) - the thing is that i'm paying it all back and on time though. after march i'll have paid back like 50k of 80k all on time. it's retarded because i started with a credit score of like 740, i'm going to borrow 80k and pay it back within a year while incurring no late fees or finance charges, and after that my credit score and credit limit will have gone down significantly. retarded
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G'damn, no shit?
I'm still waiting for them to hammer my credit limits because I always pay in full. They've never made a dime off me. How the hell are you supposed to stay below a 30% purchase/credit limit ratio with such a small line....and on a F'in BUSINESS line?! Jesus H. Christ. I'm convinced the world has gone all backwards.
G'damn, no shit?
I'm still waiting for them to hammer my credit limits because I always pay in full. They've never made a dime off me. How the hell are you supposed to stay below a 30% purchase/credit limit ratio with such a small line....and on a F'in BUSINESS line?! Jesus H. Christ. I'm convinced the world has gone all backwards.
they do of course still make money off ya - at least for the processing fees. amex charges more for this too (which is why some places don't take amex) - what is really annoying about it is that no other cards have taken adverse action against me - just the ones that i use all the time and have a huge perfect credit history with!
My Visa's interest rate just went up. I haven't used the Card in months. Silly credit card companies.
They get money every time you use your card. The credit card companies charges stores a % of the sale. So even though you don't pay them interest you still are giving them money buy using the card. Also, I have an Amex but it doesn't have a limit =P
I don't understand. So you charged 80k to your credit cards because they had 0% interest and now you are complaining that they lowered your credit limit. If you are caring that kind of balance of course the CC company is going to mess with your limits/rates.
Technically, I am purchasing goods and services from a seller and paying the same amount on a card as I would with cash, and the seller is paying the CC company pennies on the dollar for a transaction fee.
I see your point, they are making a dime indirectly "off me", but not directly "from me".
But you're smart, you know what I mean!
found this just a second ago.
http://articles.moneycentral.msn.co.../6-steps-to-dumping-toxic-debt.aspx?GT1=33010
http://articles.moneycentral.msn.co.../6-steps-to-dumping-toxic-debt.aspx?GT1=33010
it must be where you are shopping =P
Yeah,despite the bailout you still have to pay whatever you owe.
The reason the companies needed a bailout was due partly to their securities being devalued by subprime loans,and the need to stop the domino effect before the whole shebang collapsed.
So,technically,it should be argued that its home loans that should be cancelled,but even then,you still have to pay your mortgage-the loan is still valid,its simply owned by the US government instead of citibank.It would be like my credit union selling my car loan with them to Chase-just because the place I mail the check to changes doesn't change that I still have to send the check.
Yes,this means your tax dollars witheld from your wages are used to buy your own loan from these bailed out banks.Repeat after me:its a wonderful life.....
Here's what I wanna know-why is it that a jackass who maxes out his credit cards at Vegas is in a better financial situation than a laid off college grad with student loan debt?
I'd like to hear these money guys explain how someone is supposed to stimulate the economy when they owe $60,000 or more in their 20's?
The reason the companies needed a bailout was due partly to their securities being devalued by subprime loans,and the need to stop the domino effect before the whole shebang collapsed.
So,technically,it should be argued that its home loans that should be cancelled,but even then,you still have to pay your mortgage-the loan is still valid,its simply owned by the US government instead of citibank.It would be like my credit union selling my car loan with them to Chase-just because the place I mail the check to changes doesn't change that I still have to send the check.
Yes,this means your tax dollars witheld from your wages are used to buy your own loan from these bailed out banks.Repeat after me:its a wonderful life.....
Here's what I wanna know-why is it that a jackass who maxes out his credit cards at Vegas is in a better financial situation than a laid off college grad with student loan debt?
I'd like to hear these money guys explain how someone is supposed to stimulate the economy when they owe $60,000 or more in their 20's?
no other cards have done it though -
not advanta
not gm
not citibank
not chase
not discover
they all have varying amounts on them, only 20k went through amex. and i wasn't late on any payments, have always paid things off, have a long history of paying off amex bills on time and the full amount. after it's said and done i'll have proven that i could borrow and pay back 80k without a problem. and my amex limit will have shrunk by 95%. the other cards haven't done a thing and i have nowhere near the history. ultimately all they are doing in the end is pissing me off as a customer.
I have like 15+....yea but I don't use them all. just a couple. It all adds up after years of opening new cards for the 0% interest to transfer balances from other cards and pay off shit without paying a shitload of interest :rollpicard:
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