"Who, day and night, must scramble for a living..."- Page 3

[robbiej]

Posted: 1/18/08 at 11:59am

Good LORD! I have only one (with quite a bit of racked up on it...CAN'T SOMEBODY DIE???). Well...now two. We just bought a new bed (David's bday present from his mom) at Macy*s and we got the card to get an extra hundred dollars off!

THRIFTY!

And the bed is fantastic!

[Bluemoon]

Posted: 1/18/08 at 12:23pm

Robbie, you just went to college during the wrong decade. You were cheated out of an important learning experience. I'd sue.

[best12bars]

Posted: 1/18/08 at 12:28pm

They should have a MANDATORY class for all freshmen in colleges and universities:

Credit Card Debt 101

[PalJoey]

Posted: 1/18/08 at 12:29pm

The message of personal responsibility and credit is crucial, but you have to temper that with some perspective on the Culture of Credit we live in.

Otherwise, if all we do is demonize the debtors and give the banks and the government a pass, it's like demonizing smokers and exonerating the tobacco companies. Credit, like alcohol, drugs, and tobacco, can be an addiction. And it can destroy lives and families.

We have to change the society so that it's ILLEGAL for credit-card companies to offer Bluemoon's daughter and her friends multiple credit cards while she's still a student.

We have to educate people that available credit is NOT AT ALL the same thing as available cash.

We have to change the Culture of Credit.

And, for those in need:


Debtors Anonymous: Recovery from Problems with Debt

Updated On: 1/18/08 at 12:29 PM

[Bluemoon]

Posted: 1/18/08 at 12:30pm

Apparently my daughter took the hands-on internship.

And I have to say that it was a learning experience for her parents as well. We had NO idea she had these cards, nor that she was charging anything on them. This is easy enough to hide when you go away to school in another state. We only learned of the situation when she came home for the summer and her bills followed her home (I hate when that happens). We thought we'd covered all the usual precautions about life - sex, pregnancy, STDs, drinking, drugs, etc. Who know the loudest message should have been "Mastercard is NOT your friend."

Updated On: 1/18/08 at 12:30 PM

[TheatreDiva90016]

Posted: 1/18/08 at 12:37pm

"We just bought a new bed (David's bday present from his mom) at Macy*s and we got the card to get an extra hundred dollars off!"

We did the same thing for new clothes, and then when we went to cancel the card, the operator tried EVERYTHING to get us to keep it open. Robert finally just yelled into the phone, "Just shut-up. I don't want to keep this card and I have now cut it to pieces. Close the account!" and hung up on them.

[robbiej]

Posted: 1/18/08 at 12:45pm

Well...After the service we received there, we plan on keeping the Macy*s card! They were just LOVELY!

And, when the taxes are done and the rebates are in hand, we plan on getting a new couch (on sale of course) and we'll probably head on over to Macy*s. Hopefully they'll have something we like!

[justme2]

Posted: 1/18/08 at 1:30pm

Paljoey....I am not saying this is a problem for only yuppies and guppies (and by the way....I said it stood for GREEDY urban professionals, nothing else).

My point, which I thought I had made clear, but apparently didn't, is that the middle class and people like me, living within my means, are paying for the greed of the people who just HAD to have that million dollar home, at whatever cost and whatever terms they were given. People who are buying up small homes, tearing them down and building McMansions on property that a first level buyer used to be able to afford.

The idea of a 'starter home" is GONE in the SF Bay Area.

[Unknown User]

Posted: 1/18/08 at 3:13pm

The housing crash is just a part of it- Look at two very important indicators: The Dollar (Low) and at Gold (All time high). What this indicates is that folks (Countries, compaines, investors) who have cash on hand are foregoing keeping it in US dollars and putting it elsewhere: The Euro, or good ol' fashioned GOLD. Why? Because they no longer have any faith in the US economy. When the US can no longet issue bonds and get loans- why then you'll have trouble my friends, trouble with a capital T,a nd that rhymes with B and that stands for Bush....who will be living like a sultan on his multi-million acre estate in South America.

[PalJoey]

Posted: 1/18/08 at 3:38pm

Ick. Credit-card companies are Obama's 2nd biggest block of contributors.
Obama and Predatory Credit Card Interest Rates

[nygrl23]

Posted: 1/18/08 at 5:31pm

No wide screen tv's for me, thanks, much to the dismay of electronics store salespeople. I'm content with my 1988 Sony kitchen tv that sort of works. I'm cheap, what can I say.

[iHeartMyGeek]

Posted: 1/18/08 at 6:31pm

Yeah, all we've been hearing from every speaker, teacher, guidance counselor, and administrator who's spoken to my senior class this year was "Once you go to college DO NOT get a credit card." It's been so engrained into my brain at this point every time I see the words "credit card" I kind of hiss a little. They're really trying to steer kids away form it now.

Updated On: 1/18/08 at 06:31 PM

[paradox_error]

Posted: 1/19/08 at 12:43pm

It amazes me how people can be so short-sighted.

I have had a credit card since I was 19, so for two years now. At first I got a special student card, which had a $400 limit. The reason I got it was not because I needed that small amount of money, but so that I could start getting a good credit rating, thinking of the future. It's also quite convenient being able to pay by credit card, especially when I live in a different country to where the majority of my money is. Since I have had it, I've only ever used it for things I have had the money for. I pay them back immediately, or before the end of the 55 interest-free-day period. Before I returned to Europe, I decided to increase my limit (exponentially) just in case of an emergency. However, I had no need as I still have no debt on the card. I use it for large purchases, but always transfer the money straight from my savings account.

This always seemed so logical to me, I'm always so surprised that so many of my peers see it as free money.


Myself aside, this financial crisis is scary, and it's more than just a problem for the US. I hope it doesn't happen, but we could be heading for tough times, akin to the Great Depression of the 30s...

[best12bars]

Posted: 1/22/08 at 2:05pm

Bump.

[Revolutionary]

Posted: 1/22/08 at 3:26pm

Dumbasses shouldn't be allowed to have credit cards. The terms couldn't be any clearer when you sign on for one. Interest rates are written in bold font, right above that line that you sign on. If you accept it, you should have enough common sense to be able to use it to your advantage. It's like those warnings on cups of coffee: 'Caution, this beverage is really freaking hot and it might burn your lips and tongue off if you do not act accordingly!'.

So come on, if you can't manage your own money then who can?

Like Paradox, I've had my credit card since I was 19 or 20 and it's never been anything but a blessing to me. I've been a waitress for all that time since then, and since I get paid in cash I deposit my earnings every single week into my checking account (oh, and my money in my checking account gets 4% interest!) and I charge *everything* to my card. And it's done me a lot of good. I have a United miles/Visa card, they've never made a cent from me since I always pay in full and on time, and I get about one free rountrip ticket to fly every year. Plus I've had my wallet stolen twice in the past 2 years, and it was so great having that bumper and knowing that a stolen credit card does not equal being screwed over, as it would've if I had tons of cash in there.

And I'm sure that my credit is awesome too. So in 20 years when the world is almost done self destructing, I'll be able to swoop in and get a great mortgage rate on my future multi million dollar bay area home. mwah.



Updated On: 1/22/08 at 03:26 PM

[son_of_a_gunn_25]

Posted: 1/22/08 at 11:23pm

"They should have a MANDATORY class for all freshmen in colleges and universities:
Credit Card Debt 101"

At my university, it is covered in the required math class for all students. I am proud to say I don't own a credit card. (though I have learned my lesson the hard way on debit cards) I know it will be needed to establish credit at some point, but I refuse to get one until i have a steady income when I know I will be able to pay off my purchases.

Robbie be careful with the Macy's card. I've heard that department store cards can be the worst when it comes to extra charges. My parents got themselves into trouble with a Sears card when I was young, and it was tough getting back out of that hole with four children. They swore off credit cards after that experience.

[best12bars]

Posted: 1/23/08 at 8:46am

"I know it will be needed to establish credit at some point, but I refuse to get one until i have a steady income when I know I will be able to pay off my purchases."



Good for you, son!

And for those of you out there saying you need a credit card to establish your credit...

Do you know how EASY and fast it is to do that? You don't need to "practice" for it while you're in college.

[Mistress Overdone]

Posted: 1/23/08 at 9:00am

I just paid off my credit card, and now I am debt-free (with the exception of student loans, which are manageable and which I don't see as the same kind of debt). Yeah, I did the stupid-college-student thing... and $900 worth of purchases turned into $3200 worth of debt... but I got it paid off and I got the account CLOSED. Now I am living in an affordable apartment, I have a good job, and I live within my means. Hurrah!

[best12bars]

Posted: 9/15/08 at 10:48am

Bump.

It kinda felt appropriate today.

I just loved rereading that Goth (back in January) thought our housing crisis was being manufactured by the Dems and Hillary.

Yes, and everything you see happening today? It's just an impressive magic trick done by Obama & Kerry. Fake stories about a crumbling economy.

Now go try to get a home loan from Lehman Brothers.

[Unknown User]

Posted: 9/15/08 at 10:54am

Bravo Besty. I laughed out loud when I re-lived Goth's "Hillary will stoop to anything!" Post!