credit card meltdown

She does that all the time Dusty! :lol:

Right now, it's my right shoulder that hurts, bone spurs, etc. Surgery scheduled for 9 June, right after the Langford Bay CBGT! Not only do I limp now but I throw like a girl! :embarrased

Charlie
 
Sorry you must have surgery. OMG! Hate to see you kids have problems while still young. :wink: :wink:

Hang in there and big hug to Sally.

Duster
 
"the Bank" was the most imposing building in our little town. I would climb up on the luggage rack of my father's Schwinn, and off we would go to make a deposit. The doors were huge, made of gold colored metal and very thick glass. Even unlocked, I couldn't open them. The inside of the bank was even, well, huger! Only one floor, three, maybe four stories high. The floor was made of marble and the pens on the big center table were chained. Tellers in cages on the left an right. In the rear, straight ahead were desks, backed by a floor to ceiling painting of Washingtom Crossing the Delaware. We went to Ms. Swiss, 'our teller'. She greeted us by our first names and exchanged pleasantries with my father . She gave me a lollipop. . She took the book and the deposit , stamped the date in the book, ran it thru a machine, and signed the entry. With goodbyes echoing thru the bank, we left. The good ole days are gone, but not forgotten.
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MartyP
 
Marty try First National Bank of Ely -- they still have the original safe on display! John Gianoli is President & CEO -- tell him I sent you.

I have never heard Deadbeats used in reference to those who pay their balance in full each month -- that said until recently I used AMEX for 99% of my business travel so that I was not favoring one bank over another and paid in full each month.

Federal credit card rules are changing and will change again when new law kicks in. Issuers are accused of unequal treatment when they don't charge interest to those who pay in full -- ie the poor slob who is carrying a maxed out balance is not being treated "fairly" so issuer needs to level the playing field.

Now that empathy is a criteria for Supreme Court nominees you will see more of this "fairness" in a lot of other government laws and regulations.

Speaker's office is calling - -3 days left in session!

Bill Uffelman
 
Charlie, the joke as I heard it goes like this:

Q: Why do they bury lawyers 30 feet deep instead of the usual 6 feet?

A: Because down deep, they're all nice guys.
 
Pat Anderson":2x37kt6x said:
Charlie, the joke as I heard it goes like this:

Q: Why do they bury lawyers 30 feet deep instead of the usual 6 feet?

A: Because down deep, they're all nice guys.
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My cousin runs a carnival. I know I am hard-core unemployable, because he won't give me a job. :roll: But, this is his favorite joke (at least the variety I can tell in mixed company):

Q: Why did God create lawyers?

A: So carny-people would have someone to look down on.

{rimshot)

Sorry, this has nothing to do with credit cards. We have been using some sort of "rewards" cards for years, always paying the balance each month. If they do, indeed, start charging those of us who don't carry a balance, we'll dump them.

Jim B.
 
Bill Uffelman":1l7j9m48 said:
Federal credit card rules are changing and will change again when new law kicks in. Issuers are accused of unequal treatment when they don't charge interest to those who pay in full
Bill Uffelman
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Yesterday's newspaper addressed these changes. Unfortunately, dependent upon the amount of these charges will (as is evident by the comments in this thread), cause many of us to destroy our credit cards and cease using them. Unfortunately, it may be impossible to go completely without at least one credit card for the online purchases, travel needs etc. etc. and we may have to "buck up" for the one card that serves us best. It would seem to me that it would behoove the credit card industry and their "financial backers" ie: banks to be cautious as to how they implement these changes so as to not create an exodus of their "valued customers" who have additional funds deposited in their institutions.

Bill, with your position, it would seem to me that you are gleaning a multitude of "on the street" concerns/comments from C-Brats on this thread that should be in the minds of those executives in the industry that make the important decisions that could affect their individual financial institution.

One of the reasons that I have stayed with Bank of America for the past 28 years is that they waive all fees for me because of my demonstrated commitment to keep a large share of my funds with them. (That in itself should allow me to continue to not be charged for having a credit card through them and continue to pay off the balance before the end of the billing cycle without any interest charges). (After all, I'm certain they are charging others for interest from my deposited money that they are loaning out.... :wink )

Another great reason for my doing business with my local branch of B of A is the gorgeous women that work there....... :lol:
 
Did you hear that many scientists are replacing lab rats with lawyers? There are a lot more lawyers and there are some things that a rat just won't do!

Nick
"Valkyrie"
 
Dave S. stated,
One of the reasons that I have stayed with Bank of America for the past 28 years is that they waive all fees for me because of my demonstrated commitment to keep a large share of my funds with them....Another great reason for my doing business with my local branch of B of A is the gorgeous women that work there.
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Dave, it's been my experience that when I'm around gorgeous women I DON'T save money! :wink
 
Never been there, hope to get there some day. My dad was born there, 1912, came through Ellis Island in 1914. Been a never ending problem in security clearances for me too! Still wouldn't trade the heritage for a full head of hair.... :shock:

Charlie
 
Sarge":lbgygptn said:
Dave, it's been my experience that when I'm around gorgeous women I DON'T save money! :wink
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Yeah, but they are in the "teller's cage" so I'm safe.......or should I say....they are safe.... :mrgreen:
 
OK, here is one of my favorite Ole and Lena stories.

Lena dies, Ole calls the funeral home. The guy ask Ole, "What street do you live on?"

Ole say "Chrysanthemum Street."

The guys says, "Could you spell that for me?"

Long silence, then Ole says, "Could I just drag her over to Elm?"

[rimshot]


Captains Cat":mit7f78x said:
Next thing you know you'll start in on us Swedes!

Charlie
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Hi Folks,

I thought I would put my two cents in this discussion.

Nobody mentioned DISCOVER. No annual fee, cash back on all purchases with extra cash for some spacific areas. These run for about three months.

They are up on any hankie-pankie on your card. I got a call from them about somebody using my card in Nevada. I live in Massachusetts. They stopped the transaction, cancelled my card and issued a new card, all within twenty-four hours.

I get reminders for paying my bills. I usually pay as soon as I get my bill. This last month, I held the bill a little longer, and I got another reminder. I paid for the card using BankPay. Got a notice that they received the payment in twenty-four hours. All on my E-Mail account on Yahoo. Can't beat that.

I also have a few long term loans with Chase. They can be jerks. A charge showed up on the account that didn't belong there. I think they put it on. Higher interest. It took two calls to straighten it out and then I receive one of their, "You are a naughty boy" letters saying never do it again. I never did anything wrong in the first place. They did the wrong. I know that they would love to see me miss a payment. To solve that I set up a separate Bank account with an automatic payment. I keep a good balance so it will not screw up.I think they hate me. Interest rates are 2 to 3 percent.

As for the new credit card bill. It is pure Obama S--t. They can't zap you with unknown higher rates, but the rates that they can charge are usuary rates, sometimes based on a missed payment to somebody else. The very people who can't afford it are the ones who will get hit the hardest. They will make the Mafia look like nice guys. Face it. This guy OBAMA does not care about the little guy, just the payoff guys. Money to PAC's is payoff. No other way to look at it. The republicans are no better. "BIG BROTHER IS WATCHING YOU"

In closing, I think we should start reading all those letters of changes of rules and look closely at every credit card bill. Remember. Their charges may be hidden somewhere else other than on the listing of charges. If they want to charge me for a card, I will cancel.

Fred
 
Fred, beating up on their good customers, like those of us who pay our bill off in full every month, is what the banks are doing in retaliation for being required to stop being arbitrary. It is not part of the new law. Here is a pretty good article on the situation.
 
Pat,

Interesting article. Thanks.

Credit has it's proper use, but like many things it can be overused. The overuse of credit is simply a financial narcotic, and the issuer/banks are the dealers.

Given the current economic plight we are seeing folks begin to save again. Gee, imagine that - America's actually Saving money! What a novel concept. ...keep that up and many won't even need their cards other than as convenience against having to carry large sums of cash. If the cards become too expensive (or insufficiently profitable for the issuer's) they could fall into disuse. We may begin to see increased cash transactions, and folks not buying stuff until they can actually PAY for it. The great American consumer may be in the process of changing their stripes; and banks don't like it. Sure, the banks will have vastly smaller payouts on creditcard losses, but they'll be loosing hundreds of Billion$ in the percentages they are currently making on every creditcard transaction.

Interesting Times.

Best,
Casey
(vice) C-Dory Naknek
Lake Montezuma (AZ)
 
It is refreshing to go to the mailbox these days and find that no financial business is mailing unsolicited credit cards and blank checks to us. Now THAT, is an improvement! (Certainly, that practice must have driven up a considerable amount of uncollectable debt to those companies). My shredder just about "shredded" itself to pieces with the volume of that type of mail that found its' way to our home.
 
DaveS":bz0lmmzn said:
<snipped down>It is refreshing to go to the mailbox these days and find that no financial business is mailing blank checks to us.
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Totally agree, Mr. D. I've already had one outgoing check stolen from my mailbox and a "computer generated" substitute check made and cashed at a grocery store. Just the thought of three unsolicited blank checks arriving that are tied to my high limit credit card makes me shudder. What brand shredder do you use? Mine keeps losing it's paper detector eyeball circuit.


Don
 
Pat,

Thank you for setting me straight.

I have a very interesting story along this thread.

Back in 1993, when Sheila and I were trying to buy the Inn, we were trying to refinance our two family house in Hingham. Both of us were unemployed at the time.

We went to the Bank we had been doing business with, but they could not help us because we had an old house with lead paint in it. They would not give a loan to an old house with lead paint because they had been "stung" by the law. They suggested that we contact other sources.

Sheila, my wife, went home, got out the realestate issue of the local paper and called every bank and mortgage broker listed, and got the same answer back from all of them. "We do not make loans to people who do not have jobs." I said that "we needed the loan to get a job (Buying the Inn)."

My sister=in=law was in the realestate business and gave us a name of a mortgage broker working for Great Western, the predecessor of Washington Mutual.

The broker got us a No Doc (no credit check or financial check) negative amortization (our monthly payment was less than the Interest payment for five years.) This was good for five years. At the end of five years we rewrote the loan for 30 years at a good rate and in the process got rid of the Flood Insurance which was useless. (That's another story.)

The rest is history. It was this so-called bad loan that made our dream of owning an Inn on Nantucket possible. Maybe I should thank Barney Frank.

Fred
 
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