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Credit Card Companies Suck, Part Infinity

Discussion in 'Anything goes' started by McPoyle, Oct 20, 2009.

  1. RickStain

    RickStain Well-Known Member

    The ideal solution would be much, much better financial education for young people to keep them from making those sorts of mistakes.

    Unfortunately, it's not going to happen that way. The market is going to price people out of unsecured credit who shouldn't be having it, and it's not going to be pretty as they try to adjust.
     
  2. ArnoldBabar

    ArnoldBabar Active Member

    Buck tried to get into the Personal Finance Glee Club, but they wouldn't have him. Something about a salary cap.
     
  3. YGBFKM

    YGBFKM Guest

    My dad complained every single freaking day of my childhood about money, and I thank God he did. It has allowed me to stay out of financial trouble my entire life, despite not making shit more than a few times.
     
  4. Bodie_Broadus

    Bodie_Broadus Active Member

    I have always held the belief that if I can't afford it, I probably don't need it. Not judging anyone, just a personal philosophy.

    I wish I had a credit card at times for some things, like if my car causes me to spend another $600 on repairs. But all in all, I am cool with my finances the way they are. I could use a little more breathing room every now and then but I don't do a whole helluva lot, give me an internet connection, my dvd collection, a couple video games and the Itunes and I am set.
     
  5. Shaggy

    Shaggy Guest

    I totally agree. The lack of personal finance education for kids 16-22 is very disturbing.

    I remember looking into such a class in high school and not having one available. Surprisingly, I didn't see any 101 class on personal finance at my college either.

    No wonder this nation is in gigantic debt. We're taught nothing about responsible spending, and then we see asswipes on every corner of a college campus trying to shove credit cards in our empty wallets.
     
  6. YGBFKM

    YGBFKM Guest

    The people who are running up all the debt shouldn't be totally absolved of responsibility.
     
  7. buckweaver

    buckweaver Active Member

    Yeah, just because you're not taught doesn't mean you can't learn.
     
  8. imjustagirl

    imjustagirl Active Member

    Uh, yes we should!
     
  9. spup1122

    spup1122 New Member

    I got the letter and called and did the same as McPoyle. I had to opt out. After working with them for years at 29.9%, I was able to call and they lowered it to 5% because I had never missed a payment or paid less than the minimum payment. I usually paid substantially more, in fact, but one day, my payment amount shot up about $300 more than it had been previously. That's when I called to get the interest rate lowered, which lowered my minimum payment back to what it had been. They had no explanation for the new increased minimum payment, either.

    Unfortunately, that was only a couple of months ago, so I haven't even made a dent in paying off the card. Then I get this letter and am forced to close the line of credit.

    I was actually advised by one of the people who works with creditors to lower rates and help people pay their cards off more quickly that I should call them and say "Keep my rates the same or you won't get a dime from me. I'll declare bankruptcy before I pay these ridiculous rates." He said it usually works but you have to actually not be afraid to follow through on not paying them. I wasn't in the mood for that fight today so I just closed the line of credit.
     
  10. zeke12

    zeke12 Guest

    Once again, proving that IJAG is really a Democrat.

    "Grandpa, you were getting checks from someone you didn't know, for doing nothing, and you didn't wonder why?"

    "I figured the Democrats were back in office!"
     
  11. imjustagirl

    imjustagirl Active Member

    No, Zeke. Proves I'm a Republican.

    I want fiscal responsibility from everyone but me.
     
  12. YGBFKM

    YGBFKM Guest

    You two better not get this thread locked with your political bullshit!
     
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