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PennySaved
1000+ Penny Miser Member
USA
1720 Posts |
 Posted - 01/15/2010 : 16:23:13
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I have good credit and usually get offers for 0% credit cards that convert to 9.99% after 6 months.
I got an offer in the mail yesterday from Capitol One for 0% for 10 months but would convert to 17.99% (it said prime + 14.74%). There has been no change in my credit status.
I was reading the rate for cash advances of 24% (which I would never do those anyway)
Of course this offer is going to get shredded
However, it seems that credit cards are almost going to try to be like pay day loans with their crazy interest rates.
Its kind of disgusting considering all the money they got from the government and how low they are currently borrowing money from the Feds.
Seems like the little guy is getting hurt from all angles. Just my 2 cents.
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SELLING COPPER PENNIES 1.4X FACE SHIPPED......“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” Thomas Jefferson |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 01/15/2010 : 18:33:35
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| It use to be that getting a loan at a pawn shop was as low as a borrower could go outside of an illegal loan shark. Now credit card companies have proven themselves to be the true financial skunks. My advice is for people to stay away from credit cards and if they need credit consider pawning off unneeded goods instead. |
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All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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Jangles
Penny Sorter Member
31 Posts |
Posted - 01/15/2010 : 19:16:54
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quote:
Originally posted by Ardent Listener
My advice is for people to stay away from credit cards and if they need credit consider pawning off unneeded goods instead.
I disagree. I say buy everything you can w/ your credit card, take them for all the reward points and cash back they will give you. Of course, make sure and pay your balance off in full every month  |
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daviscfad
1000+ Penny Miser Member
USA
1664 Posts |
Posted - 01/15/2010 : 19:29:23
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| cc's are only good for when you have no other choice. cash is the best way |
Inquiring minds want to know |
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fb101
Administrator
USA
2856 Posts |
Posted - 01/15/2010 : 19:31:37
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| If I ain't got the cash I don't need it. (coming soon) |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 01/15/2010 : 21:14:54
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quote:
Originally posted by Jangles
quote:
Originally posted by Ardent Listener
My advice is for people to stay away from credit cards and if they need credit consider pawning off unneeded goods instead.
I disagree. I say buy everything you can w/ your credit card, take them for all the reward points and cash back they will give you. Of course, make sure and pay your balance off in full every month
I put a lot of charges on my AMEX Blue CASH back card. I use it as a CASH substitute and pay off my balance in full every month. CASH back for AMEX Blue has no limits. Nothing like getting $1000 or more CASH back each year.
The credit card companies raised my rates too, even though I have one of highest credit scores. Most folks can't pay off their balance and are stuck. The credit card companies' corporate offices reside in South Dakota or Delaware because they know our government has never enforced the Federal usury laws in those states. South Dakota and Delaware have no real state usury laws, while they encourage the banksters to come to their states and provide some jobs for their citizens at the expense of everyone else in the USA.  |
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The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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Edited by - Country on 01/15/2010 21:22:23 |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 01/15/2010 : 21:36:45
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quote:
Originally posted by Jangles
quote:
Originally posted by Ardent Listener
My advice is for people to stay away from credit cards and if they need credit consider pawning off unneeded goods instead.
I disagree. I say buy everything you can w/ your credit card, take them for all the reward points and cash back they will give you. Of course, make sure and pay your balance off in full every month
Yes, but when they tell you that they didn't get your payment on time and if you can't prove that they did, they will stick you with their penalties. If you don't get your bill they will tell you "We aren't responsible for the U.S. mail." But if they don't get your payment you are. |
Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 01/15/2010 : 21:49:13
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quote:
Originally posted by Ardent Listener
quote:
Originally posted by Jangles
quote:
Originally posted by Ardent Listener
My advice is for people to stay away from credit cards and if they need credit consider pawning off unneeded goods instead.
I disagree. I say buy everything you can w/ your credit card, take them for all the reward points and cash back they will give you. Of course, make sure and pay your balance off in full every month
Yes, but when they tell you that they didn't get your payment on time and if you can't prove that they did, they will stick you with their penalties. If you don't get your bill they will tell you "We aren't responsible for the U.S. mail." But if they don't get your payment you are.
Never use the mail to pay off your credit cards. Do it online electronically via ACH from your bank account. Make payments a week ahead of the due date to be safe and follow up online to see that the payment was credited to your account. Don't fool around with these banksters. Their fees are their money maker!! |
---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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copperhead57
Penny Collector Member
USA
255 Posts |
Posted - 01/16/2010 : 01:41:16
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I never use credit cards, because they make it too easy to get deep in debt.
I always make sure I really need something, and that I can afford it before making a purchase. |
copperhead57 |
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Get ready for the credit card companies to gouge
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