Juat a rant, ignore me

Platapus · 08-24-10, 08:20 PM

I gotta get this off my chest.

Every day when I am watching the morning news, I am inundated with these commercials trying to convice people that it is ok to defraud the credit card companies

Credit card companies are in the business to make money and they offer a convenience service to the customer -- Use the credit card company's money now and promise to pay it back later with interest.

If you don't like that deal don't use it

But if you take the credit card company's money, buy stuff with it, then you have to pay it back!!!

These "credit help" commercials are driving me nuts! It is not OK to garner benefit from borrowing money and then not pay it back. To me this is stealing or fraud. Just because Credit Card Companies are willing to accept a settlement does not mean it is right. They are willing to accept a settlement because it is better than being cheated out of their entire money.

It is dishonourable to use a credit card and then not pay back the money. The only saving grace is that people who defraud the credit card companies by using these "credit help" companies, will probably never be able to get credit again and rightfully so.

The attitude of these "credit help" companies drives me nuts. They make the defrauding customer out to be the victim and the credit card companies the villain because they simply want their money back.

Sorry for the rant. I really need to move to decaf.

08-24-10, 10:03 PM

It gets worse. What they are saying is that it is OK to let others pay for your irresponsibility. And believe me others do pay. Either through passing the loss onto other customers, reducing dividends to shareholder, layoffs, or not exrending credit to those who would otherwise be deemed credit worthy.

Sledgehammer427 · 08-24-10, 10:45 PM

I made a decision very early on to stick with an ATM/charge card.
I will never have a credit card.

If I don't have/make the cash to be buying something, I'll just learn to shrug it off and save my money.

Ducimus · 08-24-10, 11:03 PM

I hadn't really looked at this commercials as, "Hey lets cheat the credit card company!", but more of a thing targeted to financially irresponsible dillweeds, and a sign that there must be alot of them if their making commercials like this. Fallout from the "instant gratification" society i suppose.

My ex was terrible. Every christmas, she'd put her self 1500 to 2000 dollars in the hole buying gifts. Not to mention Payday loan's (aka loan sharks), multiple credit cards, etc. It's all a vicious circle, and downward spiral when someone refuses to man up, and endure the hardships that being a financially irresponsible, consumerist schmuck, and shopohaulic brings.

Yeah, i know EXACTLY who those commercials are targeted at. People like my ex.

TLAM Strike · 08-24-10, 11:05 PM

This is what my banker told me:
Get a credit card and use it to buy gas once a week only. Use it for nothing else.

It build up your credit and doesn't put you in debt.

08-24-10, 11:07 PM

Credit cards if used wisely can be of financial assistance. If used unwisely they are a disaster for the user and society.

GoldenRivet · 08-24-10, 11:47 PM

Couldn't agree with your rant more

Takeda Shingen · 08-25-10, 02:13 AM

Quote:

Originally Posted by Ducimus

I hadn't really looked at this commercials as, "Hey lets cheat the credit card company!", but more of a thing targeted to financially irresponsible dillweeds, and a sign that there must be alot of them if their making commercials like this. Fallout from the "instant gratification" society i suppose.

My ex was terrible. Every christmas, she'd put her self 1500 to 2000 dollars in the hole buying gifts. Not to mention Payday loan's (aka loan sharks), multiple credit cards, etc. It's all a vicious circle, and downward spiral when someone refuses to man up, and endure the hardships that being a financially irresponsible, consumerist schmuck, and shopohaulic brings.

Yeah, i know EXACTLY who those commercials are targeted at. People like my ex.

Absolutely. Payday loans are the worst thing that you could possibly do, and those people just prey upon the desperate and irresponsible. Frankly, credit cards are little better. The downfalls of our society of consumerism; we are to want things that we cannot have, and likely do not need.

Personally, I have never touched a credit card. I have zero debt; I have paid off my mortgage and my car. The hundreds of credit card offers I get in the mail every month go promptly in the shredder. They are as a very seductive poison, and a piece of advice that I always give my students is that one of the fastest ways to ruin your life is to mismanage your finances.

Ducimus · 08-25-10, 02:19 AM

Quote:

Originally Posted by TLAM Strike

Get a credit card and use it to buy gas once a week only. Use it for nothing else.

That is exactly what i've been doing.

My truck is paid for, and I owe creditors zero dollars. Well, aside from the weekly trip to the gas pump. Doing this though, besides helping with credit, lets me see exactly what im spending on gas per week/month. I view my credit card as more of a "gasoline bill" then anything else.

08-25-10, 02:25 AM

Quote:

I have paid off my mortgage

How did you do that? I am so envious of anyone who can do such a thing as paying off the mortgage. You must be one of the rich. Your effective taxes must be around 93%.

If not they will be under the top 1% class warfare. And you shoulfd be doing anything to reduce your tax rate.

Takeda Shingen · 08-25-10, 02:34 AM

Quote:

Originally Posted by Ducimus

That is exactly what i've been doing.

My truck is paid for, and I owe creditors zero dollars. Well, aside from the weekly trip to the gas pump. Doing this though, besides helping with credit, lets me see exactly what im spending on gas per week/month. I view my credit card as more of a "gasoline bill" then anything else.

I can understand why people do that, and I applaud your restraint. Yes, it will boost your credit score. Personally, I would just rather not have them in the wallet at all.

Skybird · 08-25-10, 02:56 AM

I have a Visa - for the occasional internet buy where other sales methods are not available or not trustworthy. I get any deficit straight within 4 weeks. I use it 1-3 times per year, at best.

The card is not in my wallet. Together with my driving license it is stored in a safe drawer in my desktop.

In every-day-life I hate plastic money. It is not convenient, becasue it takes longer time at the cashdesk to get through the payment procedure than if oyu hand over real cash and get back the change. Street robbery also is still some kin d of an exotic crime over here, so safety also is no real argument in most situations. I am more worried about electronic crime and my banking data ending up in dark channels where they do not belong, getting abused for fraud by somebody else. Stolen card info, phishing attacks on home PCs, and manipulated bank automats that steal the card info and PINs as well, according to the Gemran "FBI" (=BKA) now are a very serious crime problem since some time, with ever exploding rates of cases.

I share the sentiment of ducimus and Takeda that plastic money is a good opportunity to let you escape from a material, real expereince of that you actually have given away money, which makes it easier for people to dive deep into debts. It is a psychological problem. Banks support the idea of people going into debts, since they make profits by it. People like me offering them little or no opportunity to collect interests from me, are not what they want to see too often.

The shifting of debts from one credit card to the next, to the degree it is common habit in the US that is a relatively uncommon practice here in Germany. There are tighter rules and monitors in place.

AVGWarhawk · 08-25-10, 07:32 AM

Quote:

Originally Posted by TLAM Strike

This is what my banker told me:
Get a credit card and use it to buy gas once a week only. Use it for nothing else.

It build up your credit and doesn't put you in debt.

We keep small bean bag cards just for this purpose. My wife has two clothing store cards and we have one major credit card. All paid on time and carry a minimal balance. Creditors want to see consistancy in payments. No late payments or going over the credit limit. This builds your credit. Need to be careful and show restraint with the cards. That hole is so easy to dig and clawing your way out is very difficult. Been there and done that a very long time ago. Learned our lesson and got it straight.

TLAM Strike · 08-25-10, 07:56 AM

Quote:

Originally Posted by AVGWarhawk

Creditors want to see consistancy in payments. No late payments or going over the credit limit. This builds your credit.

Consistency in everything is what a creditor wants to see. I have a friend who works in the loan department of a car dealership a few towns over, I was talking to him once and said I've been at the same job for 3 years now and he said that's good. People who come in to his office looking for finance for their new car get denied because they can't hold down a job for a long period of time.

Jimbuna · 08-25-10, 08:17 AM

My position is identical to Tak regarding debt, mortgage and car.

I do however have a credit card which is seldom used but paid off at the end of each month if I do use it.

I'm not sure how they work in the US but here in the UK they come with automatic refunds if fraudulently used by anyone other than the cardholder and have a further use in insuring against holiday companies going bust (which is quite frequent here atm) when paid for by your card....at least that is what my Visa does

08-24-10, 08:20 PM	#1
Platapus Fleet Admiral Join Date: Oct 2006 Posts: 19,361 Downloads: 63 Uploads: 0	Juat a rant, ignore me I gotta get this off my chest. Every day when I am watching the morning news, I am inundated with these commercials trying to convice people that it is ok to defraud the credit card companies Credit card companies are in the business to make money and they offer a convenience service to the customer -- Use the credit card company's money now and promise to pay it back later with interest. If you don't like that deal don't use it But if you take the credit card company's money, buy stuff with it, then you have to pay it back!!! These "credit help" commercials are driving me nuts! It is not OK to garner benefit from borrowing money and then not pay it back. To me this is stealing or fraud. Just because Credit Card Companies are willing to accept a settlement does not mean it is right. They are willing to accept a settlement because it is better than being cheated out of their entire money. It is dishonourable to use a credit card and then not pay back the money. The only saving grace is that people who defraud the credit card companies by using these "credit help" companies, will probably never be able to get credit again and rightfully so. The attitude of these "credit help" companies drives me nuts. They make the defrauding customer out to be the victim and the credit card companies the villain because they simply want their money back. Sorry for the rant. I really need to move to decaf. __________________ abusus non tollit usum - A right should NOT be withheld from people on the basis that some tend to abuse that right.

08-24-10, 10:45 PM	#3
Sledgehammer427 PacWagon Join Date: Jun 2007 Location: Drinking coffee and staring at trees in Massachusetts Posts: 2,908 Downloads: 287 Uploads: 0	I made a decision very early on to stick with an ATM/charge card. I will never have a credit card. If I don't have/make the cash to be buying something, I'll just learn to shrug it off and save my money. __________________ Cold Waters Voice Crew - Fire Control Officer Cmdr O. Myers - C/O USS Nautilus (SS-168) 114,000 tons sunk - 4 Spec Ops completed V-boat Nutcase - Need supplies? Japanese garrison on a small island in the way? Just give us a call! D4C!

08-24-10, 11:05 PM	#5
TLAM Strike Navy Seal Join Date: Apr 2002 Location: Rochester, New York Posts: 8,633 Downloads: 29 Uploads: 6	This is what my banker told me: Get a credit card and use it to buy gas once a week only. Use it for nothing else. It build up your credit and doesn't put you in debt. __________________

08-24-10, 11:47 PM	#7
GoldenRivet Subsim Aviator Join Date: Mar 2007 Location: Texas Posts: 8,726 Downloads: 146 Uploads: 0	Couldn't agree with your rant more __________________

08-25-10, 02:56 AM	#12
Skybird Soaring Join Date: Sep 2001 Location: the mental asylum named Germany Posts: 42,609 Downloads: 10 Uploads: 0	I have a Visa - for the occasional internet buy where other sales methods are not available or not trustworthy. I get any deficit straight within 4 weeks. I use it 1-3 times per year, at best. The card is not in my wallet. Together with my driving license it is stored in a safe drawer in my desktop. In every-day-life I hate plastic money. It is not convenient, becasue it takes longer time at the cashdesk to get through the payment procedure than if oyu hand over real cash and get back the change. Street robbery also is still some kin d of an exotic crime over here, so safety also is no real argument in most situations. I am more worried about electronic crime and my banking data ending up in dark channels where they do not belong, getting abused for fraud by somebody else. Stolen card info, phishing attacks on home PCs, and manipulated bank automats that steal the card info and PINs as well, according to the Gemran "FBI" (=BKA) now are a very serious crime problem since some time, with ever exploding rates of cases. I share the sentiment of ducimus and Takeda that plastic money is a good opportunity to let you escape from a material, real expereince of that you actually have given away money, which makes it easier for people to dive deep into debts. It is a psychological problem. Banks support the idea of people going into debts, since they make profits by it. People like me offering them little or no opportunity to collect interests from me, are not what they want to see too often. The shifting of debts from one credit card to the next, to the degree it is common habit in the US that is a relatively uncommon practice here in Germany. There are tighter rules and monitors in place. __________________ If you feel nuts, consult an expert.

08-24-10, 10:03 PM	#2
The Third Man Stowaway Posts: n/a Downloads: Uploads:	It gets worse. What they are saying is that it is OK to let others pay for your irresponsibility. And believe me others do pay. Either through passing the loss onto other customers, reducing dividends to shareholder, layoffs, or not exrending credit to those who would otherwise be deemed credit worthy.

08-24-10, 11:03 PM	#4
Ducimus Rear Admiral Join Date: May 2005 Posts: 12,987 Downloads: 67 Uploads: 2	I hadn't really looked at this commercials as, "Hey lets cheat the credit card company!", but more of a thing targeted to financially irresponsible dillweeds, and a sign that there must be alot of them if their making commercials like this. Fallout from the "instant gratification" society i suppose. My ex was terrible. Every christmas, she'd put her self 1500 to 2000 dollars in the hole buying gifts. Not to mention Payday loan's (aka loan sharks), multiple credit cards, etc. It's all a vicious circle, and downward spiral when someone refuses to man up, and endure the hardships that being a financially irresponsible, consumerist schmuck, and shopohaulic brings. Yeah, i know EXACTLY who those commercials are targeted at. People like my ex.

08-24-10, 11:07 PM	#6
The Third Man Stowaway Posts: n/a Downloads: Uploads:	Credit cards if used wisely can be of financial assistance. If used unwisely they are a disaster for the user and society.

08-25-10, 08:17 AM	#15
Jimbuna Chief of the Boat Join Date: Feb 2006 Location: 250 metres below the surface Posts: 190,500 Downloads: 63 Uploads: 13	My position is identical to Tak regarding debt, mortgage and car. I do however have a credit card which is seldom used but paid off at the end of each month if I do use it. I'm not sure how they work in the US but here in the UK they come with automatic refunds if fraudulently used by anyone other than the cardholder and have a further use in insuring against holiday companies going bust (which is quite frequent here atm) when paid for by your card....at least that is what my Visa does __________________ Wise men speak because they have something to say; Fools because they have to say something. Oh my God, not again!!