Clusterheadaches.com Message Board
        (http://www.clusterheadaches.com/cgi-bin/yabb/YaBB.cgi)
      

        New Message Board Archives >> 2005 General Board Posts >> Your credit card payment may double
        
(Message started by: floridian on Sep 22nd, 2005, 12:09pm)
Title: Your credit card payment may double
Post by floridian on Sep 22nd, 2005, 12:09pm
Ouch.

http://www.billingsgazette.com/index.php?id=1&display=rednews/2005/09/18/build/business/60-credit-card.inc
Title: Re: Your credit card payment may double
Post by cootie on Sep 22nd, 2005, 12:44pm
Holy CRAP.....I have freinds that that would RUIN if it happens !! I mean totally ruin !! Luckily I have been smart to keep our only credit card below 500 at all times cuz we got ourselves in trouble before many years ago useing one too much when my daughter was little. The world is goin greedy Pam
Title: Re: Your credit card payment may double
Post by giffy76 on Sep 22nd, 2005, 12:51pm
I refuse to let my self or my wife have a credit card. My one friend is about 45,000.00 in dept just on credit cards, looks like I'll be buying his tractors and his skid loader at his estate sale >:(
Title: Re: Your credit card payment may double
Post by BMoneeTheMoneeMan on Sep 22nd, 2005, 12:56pm
I got into credit card trouble when i was in college.  Now, I pay off my 1 credit card every month, so i pay no interest ever.
Things like gas and groceries already cost too much, when you add interest onto it, it's just stupidly expensive.
PF wishes
BMonee
Title: Re: Your credit card payment may double
Post by BobG on Sep 22nd, 2005, 1:58pm

on 09/22/05 at 12:56:41, BMoneeTheMoneeMan wrote:
Things like gas and groceries already cost too much, when you add interest onto it, it's just stupidly expensive.
PF wishes
BMonee

And other necessities, like smokes. I've seen people use a credit card (not debit card) to get a #2 at McDonald's. Now that is stupid!
We do have credit cards but rarely use them. Mostly just in case of emergency.
Like today, I had an emergency at the speed shop. Need light switches and stuff for the hot rod. Damn DMV says I have to have lights on the car before they'll license it. Lights, my ass. I can see just fine, even after dark. F'in' bureaucrats.
Title: Re: Your credit card payment may double
Post by Charlie on Sep 22nd, 2005, 4:21pm
Yes. I heard that the poor destitue credit card companies are blue because they aren't raking in enough to justify their existence without doubling the minimun payment. So what to do? I know; stick it to poor families and children. Nice timing too.

I live alone so it's easy for me never to carry a balance but most people have more on their plate and can't do that. Naturally, in October the bankruptcy law changes to make it damn near impossible for the little guy to get a break that way. 21st century economics are looking like 19th.

Nice going bubble-dwelling legislators and Bush crime family. http://www.netsync.net/users/charlies/gifs/flowers.gif

Charlie
Title: Re: Your credit card payment may double
Post by Lizzie2 on Sep 22nd, 2005, 4:31pm
Big surprise is right.

I pay off my credit card every month.  This time around I can't because Jefferson screwed up my direct deposit and now I can't get my paycheck until sometime next week.  Funny how I pay them my life savings, have sold them my soul, and yet they still can't give me the money I earned by being their slave.  LOL

But yeah - usually I try to pay it all off each month.  That way, I keep my good credit and don't go into massive debt.  I'm already into massive debt with student loans - no need to make that worse!

Carrie :)
Title: Re: Your credit card payment may double
Post by Karla on Sep 22nd, 2005, 4:52pm
Double OUCH!
Title: Re: Your credit card payment may double
Post by sassy_lady on Sep 22nd, 2005, 5:07pm
I have a $500.00 limit, & it doubled up on me last month & this month, & think they are going to hit everyone!!
Title: Re: Your credit card payment may double
Post by LeLimey on Sep 22nd, 2005, 5:18pm
Maybe they should consider reducing their interest rates if people are never going to get out of debt with just making minimum payments.
Some of the rates charged by companies on their lower credit limit accounts are obscene.
Oh I'm stupid aren't I?!!! ::)
Title: Re: Your credit card payment may double
Post by LadyElaine on Sep 22nd, 2005, 5:22pm
Oh well that will do my Mother in and me too !
Title: Re: Your credit card payment may double
Post by BlueMeanie on Sep 22nd, 2005, 5:33pm

on 09/22/05 at 16:21:17, Charlie wrote:
Naturally, in October the bankruptcy law changes to make it damn near impossible for the little guy to get a break that way. Charlie


You mean let them charge $40,000 worth of goods, then say screw it, I'm not gonna pay, let the government pay all my bills for me.  :(

People need to learn to manage their money better. The credit card companies are taking advantage of people letting them pay minimum amounts each month. They let you charge $5000 max, knowing you'll owe them for the rest of your life paying $25 a month.
Title: Re: Your credit card payment may double
Post by BMoneeTheMoneeMan on Sep 22nd, 2005, 8:22pm
Well, the reason why it was argued that this needs to be changed was the right wing congress that convinced other right wingers that "times are tough for everyone, especially the less fortunate.  If we double the amount of the minimum payment, it will be easier for these people to make those payments"

I guess I'm as stupid as helen is, cause i dont get it.
BMonee
Title: Re: Your credit card payment may double
Post by BMoneeTheMoneeMan on Sep 22nd, 2005, 8:39pm
BlueMeanie:
Besides the S&L scandal, which the Bush family was involved in, can you please tell me when the federal gov't gives money to banks?
What are you talking about?
BMonee
Title: Re: Your credit card payment may double
Post by floridian on Sep 22nd, 2005, 8:42pm

on 09/22/05 at 17:33:02, BlueMeanie wrote:
You mean let them charge $40,000 worth of goods, then say screw it, I'm not gonna pay, let the government pay all my bills for me.  :(

People need to learn to manage their money better. The credit card companies are taking advantage of people letting them pay minimum amounts each month. They let you charge $5000 max, knowing you'll owe them for the rest of your life paying $25 a month.


No, bankruptcy doesn't mean letting the government take care of the bills - it means that the creditors who loaned money have to live with the consequences of that risky decision.

In a way, this law is an example of the law of unintended consequences. It makes sense to pay off credit cards quickly.  It makes sense to move the laws so that it doesn't take someone 30 years if they make the minimum payments. In the long run, that would lead to more responsible borrowing. But the medicine of a sudden shift in repayment terms may be worse than the disease of having a high balance.  

Did I ever tell you about when I was a kid and they had debtors prisons ...
Title: Re: Your credit card payment may double
Post by jimmers on Sep 22nd, 2005, 8:53pm
Man It is getting bad! Yesterday, I put a lap dance on my american express. (Jackie Gleason voice) "What the hell is the world coming to?"

Seeya,

Jimmers
Title: Re: Your credit card payment may double
Post by BlueMeanie on Sep 22nd, 2005, 10:20pm
You're right BMonee, the banks bite the bullit and pass their loss to the consumers who actually pay their bills.  The gov only has to pay for the bankruptcy judges and admin cost of millions yearly with our taxes. Sorry for the mixup.

Don't get me wrong, I have nothing against those unfortunate people who got ill, lost jobs etc. It's just that I personally know a few who just went on spending sprees knowing they would never pay off their debts.

Wow Jimmers.... American Express lap dances. Do you just swipe the card and run ?  [smiley=laugh.gif]
Title: Re: Your credit card payment may double
Post by BMoneeTheMoneeMan on Sep 22nd, 2005, 11:02pm
Yeah, the chicks now have a magnetic card reader in-between their TaTas!!  Boy if that were the case, i would have to lobby the wife to let me go to some strip clubs.
Thats funny
BMonee
Title: Re: Your credit card payment may double
Post by forgetfulnot on Sep 22nd, 2005, 11:11pm

on 09/22/05 at 22:20:36, BlueMeanie wrote:
You're right BMonee, the banks bite the bullit and pass their loss to the consumers who actually pay their bills.  The gov only has to pay for the bankruptcy judges and admin cost of millions yearly with our taxes. Sorry for the mixup.

Don't get me wrong, I have nothing against those unfortunate people who got ill, lost jobs etc. It's just that I personally know a few who just went on spending sprees knowing they would never pay off their debts.

Wow Jimmers.... American Express lap dances. Do you just swipe the card and run ?  [smiley=laugh.gif]


:D ;;D :D

Just paid off all my credit cards about 6 months ago. My ballance was around  $15,000.00 avg Int of 8%. once paid off every card upped my rate to 12% or higher. Anyone that pays $15,000.00 off must be a higher credit risk. [smiley=huh.gif]

Lee
Title: Re: Your credit card payment may double
Post by Charlie on Sep 23rd, 2005, 12:22am

Quote:
You mean let them charge $40,000 worth of goods, then say screw it, I'm not gonna pay, let the government pay all my bills for me.


You're right. It's only okay for Delta and American to file bankruptcy and fire thousands of people who then will not be able to delcare it themselves after October.

Lovely.   http://www.kolobok.wrg.ru/smiles/standart/punish.gif?SSImageQuality=Full

Charlie
Title: Re: Your credit card payment may double
Post by BobG on Sep 23rd, 2005, 10:22am

on 09/22/05 at 20:53:14, jimmers wrote:
I put a lap dance on my american express.



on 09/22/05 at 23:02:27, BMoneeTheMoneeMan wrote:
Yeah, the chicks now have a magnetic card reader in-between their TaTas!!  


This is cut and pasted from the Las Vegas Cruisin' Association web site.

November  19    BBQ & Tour at Sheri's Ranch

Yes, they do accept Master Card and Visa.

Friendly, convenient, and gotta-get-some-now credit was invented in Las Vegas.


Clusterheadaches.com Message Board » Powered by YaBB 1 Gold - SP 1.3.1!
YaBB © 2000-2003. All Rights Reserved.