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Old 10-28-2009, 03:11 AM   #21
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All that **** was in your contract you should realy read those things before you sign up for them.
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Old 10-28-2009, 03:18 AM   #22
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+1...I charge everything (points baby ), but pay every penny back at the end of the month. If I can't afford it, it doesn't go on the card...
+1.

And while we're talking about credit cards, I just wanted to add... Capital One FTW! I somehow forgot to pay my bill one month, called them up, told them what happened and they said "No problem sir, we understand that things happen from time to time, we'll go ahead and waive that fee. Thank you for your business and have a great day." Plus you can add your own picture... I've got this super cute Miata credit card
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Old 10-28-2009, 03:55 AM   #23
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(You could actually make money by getting a HELOC and depositing it. I wonder if anybody has actually done this?)
I have a friend whose father is retired and does **** like this for fun. He got an offer a couple years ago for a 0% APR for 12 months on a new card. He got one for himself, his wife, his wife's business, my friend, and my friend's sister (his daughter). The credit limit on each was $30k because he's never carried an interest-accruing balance in his life. He then took the $30k x5 credit line he had just opened, called Charles Schwab, and purchased 5 $30k 10-month CDs, each paying something like 4%. You do the math.

He said there is nothing more satisfying than investing with someone else's money.
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Old 10-28-2009, 04:35 AM   #24
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He made 6k in 10 months?
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Old 10-28-2009, 05:29 AM   #25
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He made 6k in 10 months?
Like I said, he's retired and has nothing better to do.
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Old 10-28-2009, 11:13 AM   #26
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I love pie.

I also have this lame credit card from Wells Fargo from when I was in high school that came with the account I got back then. A few months ago they dropped the credit limit from some huge number to some wimpy number.

A few weeks ago they raised the interest rate.

I carry zero balance on it--I think it only is connected to my PS3 wallet when I buy games--about every six months I spend 9.99.

But as joe's pie shows, length of account history is key. no annual fee means this account will languish forever!!
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Old 10-28-2009, 11:17 AM   #27
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thats why you never close a CC, ever.
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Old 10-28-2009, 11:40 AM   #28
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thats why you never close a CC, ever.
Unless some hooker steals it.

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Old 10-28-2009, 11:42 AM   #29
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close the card #, not the loan! then get a strong pimp arm.
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Old 10-28-2009, 01:51 PM   #30
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Like I said, he's retired and has nothing better to do.
I was just making sure my math was right
6K for just sitting on your *** sounds good to me
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Old 10-28-2009, 02:00 PM   #31
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I was just making sure my math was right
6K for just sitting on your *** sounds good to me

gotta get that obama money.

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Old 10-28-2009, 02:09 PM   #32
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wowwwwwwwwwwwwwwwww
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Old 10-28-2009, 02:56 PM   #33
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I'm pretty sure he just has a big money printer... right?
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Old 10-28-2009, 03:34 PM   #34
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Originally Posted by pdexta View Post
+1.

And while we're talking about credit cards, I just wanted to add... Capital One FTW! I somehow forgot to pay my bill one month, called them up, told them what happened and they said "No problem sir, we understand that things happen from time to time, we'll go ahead and waive that fee. Thank you for your business and have a great day." Plus you can add your own picture... I've got this super cute Miata credit card
Capital one FTW? Riiiiight

I have a card with them, yes I carry a balance, but I make sizeable payments on it every month. Never paid late. Never pay minimum. Never been over my limit.

The rate jumped this spring from 9% up to 15% out of nowhere. I just got a letter the other day, now its going up to 25%. Wtfz gives?
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Old 10-28-2009, 04:31 PM   #35
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they want their money back and increasing the APR gives you more motivation to give it back.

pretty simple idea, at least they don't break fingers.
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Old 10-28-2009, 04:33 PM   #36
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Originally Posted by therieldeal View Post
I just got a letter the other day, now its going up to 25%. Wtfz gives?
What gives is that for some reason, a certain segment of the population finds it acceptable to rely upon revolving credit as a means of financing everyday expenditures.

What's interesting to me is that, almost without exception, we stand as one to decry deficit spending on the part of our government.

"Hello, Kettle? Pot here."

We then turn around and blame the third party which enabled this behavior, calling them evil simply for doing exactly what they told us they reserved the right to do when we first signed up.
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Old 10-28-2009, 04:35 PM   #37
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What gives is that for some reason, a certain segment of the population finds it acceptable to rely upon revolving credit as a means of financing everyday expenditures.

What's interesting to me is that, almost without exception, we stand as one to decry deficit spending on the part of our government.

"Hello, Kettle? Pot here."

We then turn around and blame the third party which enabled this behavior, calling them evil simply for doing exactly what they told us they reserved the right to do when we first signed up.
You need to tone it down a little. You're saying too much truth. We don't like truth. We just like to blame everyone else
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Old 10-28-2009, 05:23 PM   #38
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assuming that my balance is revolving = false assumption

nowhere in there does it say that i have to pay it off in a certain amount of time. sure, i could drive around in a stock escort and have it paid off by now, but then i'd be bored as hell since this is my only hobby

no the debt is not from the car
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Old 10-28-2009, 05:30 PM   #39
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as the bankruptcy rate increases, so will your apr. It's happening to everyone, you're not the odd man out.
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Old 10-28-2009, 05:35 PM   #40
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Quote:
Originally Posted by therieldeal View Post
assuming that my balance is revolving = false assumption
You just said that your balance is revolving:
Quote:
Originally Posted by therieldeal View Post
yes I carry a balance, but I make sizeable payments on it every month.
Carrying a balance of any kind across the boundary from one billing cycle to the next = revolving credit.


Of course, I never actually said that you were a user of revolving credit, I just said that some people are. Denial without accusation is generally held to suggest admission.
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