VeeshanVault

My wife and I got a consolidation load about 3 months ago with the full intention of being debt free within 5 years or less. The transaction was smooth as buttah, with the entire process from application to the checks being sent out taking place within 3 days time. Since then, I'm enjoying paying out 50% less per month in credit card payments and have the comfort of knowing my loan will be paid off in less than 5 years.

All my credit card accounts are closed, except one. These motherfuckers are the the pshyco girlfriend that will not let go. I just finished a 20 minute phone call with some goddamn service rep that re-read me the same bullshit off a card about 5 times in a row with me repeatedly saying "I'm aware of all that, I just want to close my account". "But sir, are you aware....yadda yadda yadda". "Yes, I am aware, please stop talking and close the account." "We can make you a deal.." "I don't want a deal, I just want the account closed" "But what happens if you need money?" "That's no concern of yours and irrevelent since all I want to do is cancel this card" REPEAT FOR 20 MINUTES. I half expect a boiled rabbit in a pot in my kitchen tonight when I get home.

Jesus christ I'm pissed. I'm ready to commit mother fucking murders.

I will never own more than my single credit card that carries a zero balance. That is the only cerdit card in my home and those people can kiss my fucking ass. I'm off thier treadmill.

You shouldn't cancel all your cards. In order to maintain a good credit score you need to have at least 3 tradelines open. You don't need to use them, but at least have them open.

Which company gave you the hard time, out of curiosity?

Its those Capitol One bastards sending Vikings to your house isint it?

It was Chase.

It was a larger concern holding onto old debt for years on end and being over 75% of the total available credit that hurt our scores more than anything, and we still qualified for less than 6% on our home last year. Canceling all my credit cards reduced my overall credit score by less than 10 points. My debt to income ratio is outstanding, my wife and I both own our vehicles, and neither one of us has ever been late on a payment or bounced a check. We're still sitting comfortable in the high 700's for credt rating, with no intention or need of applying for new loans on our financial horizon. We already have a home, but I'll probably be purchasing a new vehicle next year snd that is not a concern in the slightest. (I'm keeping my old car too, so no trade in) Even if I were to have taken a large credit score hit, the pros would outweigh the cons.

FUCK CREDIT CARD COMPANIES

Good for you Fairweather. I only have two credit Cards myself. One I never use and the other is a recent Discover Card I just got because I get 5% cash back for gas purchases. My wife has to drive for work so it adds up quick.

The credit card companies have been fleecing Americans for years because they know most people are dumb enough to fall for the low monthly payment roller coaster. The standards for having a credit card have dropped so low that anyone can get one now. I can remember when I was young (80s) when credit cards were still fairly rare and it was a nice status symbol. Very few people had them. Now everyone has them and misuses them hence the reason Americans are so far in debt.

i cant get one :{

had a bad experience with a $500 employee loan. I had no credit at the time and now its fuckered right proper with history from that loan. It would be nice if i could get even a micro limit card just to try to restore some of my credit instead of waiting the 10 years or whatever for it to roll off.

7 years.

Anyway, there's nothing wrong with credit cards. The problem lies with those who don't use them properly. I pay everything with a credit card but I make sure that I pay it off in full each month. No interest and I get handy dandy points which when accumulated can be used for stuff like Best Buy gift certificates or whatever.

No credit cards for 10 years, debit free for 7, including the house. If anyone tells you, you need credit cards to have a good credit score tell them to shove it. Anyway, once you go debit free you will never go back. There is a piece of mind knowing anyday I feel like it I can tell my boss to shove it and be financially fine even if I took a job as the Wal-Mart greeter. “Hello, welcome to Wal-Mart”

Splatter wrote:Anyway, once you go debit free you will never go back. There is a piece of mind knowing anyday I feel like it I can tell my boss to shove it and be financially fine even if I took a job as the Wal-Mart greeter. “Hello, welcome to Wal-Mart”

I've been debt free for about 10 years. Feels great!

I don't know about that Wal-Mart greeter part though!

Credit card companies are basically legalized mafioso loan sharks that advertise on TV. I cut mine up about 5 years ago but I recently got a new one so I can shop online easier. It really is a liscense to steal from honest people.

Fairweather Pure wrote: I'm enjoying paying out 50% less per month in credit card payments and have the comfort of knowing my loan will be paid off in less than 5 years.

You know if you took that 50% extra each month and paid it on that loan, you will probably be debt free in 2 years

Yeah better watch out.. Don't pay your bill and they'll send someone over to break your legs.

wow credit card companies and pharmaceutical giants. what won't you whore for? these soulless corporations that hurt people aren't going to send you a check for sticking up for them on the internet. you know that, right?

Trek wrote:

Fairweather Pure wrote: I'm enjoying paying out 50% less per month in credit card payments and have the comfort of knowing my loan will be paid off in less than 5 years.

You know if you took that 50% extra each month and paid it on that loan, you will probably be debt free in 2 years

We thought about that, but we're doing other things with the extra cash, like improvements on the house, increasing our insurance policies (life/aflec/ect), and other boring stuff like that. We're both 31yrs old, and we're going to start trying for a child soon so it's time we strat really concentrating on the big picture. My mother in-law passed recently due to cancer, and we've since vowed to make an effort to take vacations, travel, ect. in order to start making some real memories for ourselves instead of working your whole life just to die years before you retire. That kinda stuff takes money to do and we're going to save and spend it guilt free.

Btw, it was interesting to note I had one of my credit cards since I was 18 yrs old. Techincally I was still paying for my first computer (P200 w/ MMX technology motherfucker), various appliances for my first home in Arkansas, about 3 months of debt when I moved back to MI where I basically had to live off my CC for food and gas. I also remember some very large car repair bills I had to put on my CCs just to keep my sole source of transportation up and running so I could earn money to pay my credit cards lol. Other than various online purchases over the years, I've never used any of my credit cards for anything, but the interest rates were so high, I was paying and paying, and paying..... spinning my wheels not budging the bottom line.

There should be some serious financial counseling for young people about the dangers of credit cards. If you're living paycheck to paycheck as most kids start out, it's very easy to get cornered with credit card debt and it's awefully hard to get back out. I know my kids will have a very firm understanding of the pros and cons before they take on the responsibility of owning and maintaining a credit card.

been there.... had about 60K in CC debt when my first wife died. Pluss a ton more in medical bills. All paid off and clean in 3 years. Now I panic if I owe money except car and house. Even so I do keep a CC mainly for emergencies, like, family dying in Norway while I live in Texas.

kyoukan wrote:wow credit card companies and pharmaceutical giants. what won't you whore for? these soulless corporations that hurt people aren't going to send you a check for sticking up for them on the internet. you know that, right?

Blah blah blah.. That's all I hear when I read your posts. I'm sure it wouldn't kill you to engage in normal discussion once in awhile. Oh wait that's your shtick. Please continue. Can't disappoint the people.

Listen.. Nobody forces anyone to fill out the credit card application. You know that piece of paper which also lists the terms and interest rate. Credit cards are a convenience to a lot of people. If you can't handle credit responsibly then don't sign the fucking application and send it in because yeah banks are in business to make money. To blame the banks and compare them to the mob is beyond foolish.

I wouldn't call that whoring for anyone though. More like supporting the idea of personal responsibility. Whoa there's a shocker! At one time I had over 20k on credit cards not counting a 15k car loan. I worked hard and sacrificed things I wanted and in 5 years I finally became debt free and have been that way for three years now. But I don't blame the banks for the position I was in.

Fairweather Pure wrote:I know my kids will have a very firm understanding of the pros and cons before they take on the responsibility of owning and maintaining a credit card.

Which is a very good idea. Most parents probably don't. Due to the ease of obtaining revolving credit these days, and I agree the banks are very agressive on marketing and towards young people specifically, it's just a fact of life these days.

That's funny. People are not responsible enough to use credit cards and all of a sudden it's those fucking credit card company's fault! It should be illegal to make it so easy to swipe that little piece of plastic!

So where is line drawn between personal responsibility and shrewd traps designed to bury people in debt and profit from them? what about a little old lady being scammed by a con artist? maybe she should have been aware. how about the tens of thousands who had their retirement savings stolen by enron executives? maybe they should have looked harder into where there money was going.

credit card companies deliberately target people who are traditionally bad with money, or lack the experience. who in the fucking world would loan money to a college student or a landed immigrant making near minimum wage? oh, visa will at 30% interest, and you better make your minimum fucking payment or they will garnish your $8 an hour paycheck or start harrassing you or your family for money.

and it is not just economic and age demographics they look for. there is a credit class for people who owe a lot of small debts from various credit card holding companies, and other card companies target them. these companies want you in debt with them and they will trap you any way they can.

you can blab all you want about personal responsibility. that doesn't give other people the right to profit from people who don't have any or lack the common sense or life experience to defend themselves against twenty years worth of research and marketing techniques developed by credit companies to get you to go into debt with them. I can't loan people money and charge them outrageous interest to pay me back, putting them into debt for years. why? because it is fucking ILLEGAL.

kyoukan wrote:So where is line drawn between personal responsibility and shrewd traps designed to bury people in debt and profit from them? what about a little old lady being scammed by a con artist? maybe she should have been aware. how about the tens of thousands who had their retirement savings stolen by enron executives? maybe they should have looked harder into where there money was going.

credit card companies deliberately target people who are traditionally bad with money, or lack the experience. who in the fucking world would loan money to a college student or a landed immigrant making near minimum wage? oh, visa will at 30% interest, and you better make your minimum fucking payment or they will garnish your $8 an hour paycheck or start harrassing you or your family for money.

and it is not just economic and age demographics they look for. there is a credit class for people who owe a lot of small debts from various credit card holding companies, and other card companies target them. these companies want you in debt with them and they will trap you any way they can.

you can blab all you want about personal responsibility. that doesn't give other people the right to profit from people who don't have any or lack the common sense or life experience to defend themselves against twenty years worth of research and marketing techniques developed by credit companies to get you to go into debt with them. I can't loan people money and charge them outrageous interest to pay me back, putting them into debt for years. why? because it is fucking ILLEGAL.

wow, shithead. nice argument.

kyoukan wrote:wow, shithead. nice argument.

More effective than your rambling tripe filled comments.

Oh you're one of those retards are you? Hurr hurr everything you said is stupid and I am above debating it so I will post a stupid emoticon instead to demonstrate my intellectual prowess.

Great.

Hey dumbass; I'm not buying it.

kyoukan wrote:Oh you're one of those retards are you? Hurr hurr everything you said is stupid and I am above debating it so I will post a stupid emoticon instead to demonstrate my intellectual prowess.

Great.

Hey dumbass; I'm not buying it.

And you are one of those retards who has to keep beating a dead horse argument, simply because you are too stupid to realize you lost a long time ago? Guess what? We aren't buying it either.

Why don't you just walk away from this argument in stead of just pestering the rest of us with your tired opinions? You don't know better than everyone else here, in fact you seem to know less than most people here, the sooner you realize that, the better.

Yeah this argument is a real dead horse. It's been going on for what now, eight posts? And half of those are full of worthless fucking trash like yours.

Oh lookie, we have had this discussion before!

http://www.veeshanvault.org/forums/view ... hp?t=16398

Also, we know that you hate everything. We know that nobody pays attention to you in the "real" world. We understand that this is the reason you need to feel important here. We really do.

Hey, that's great, moron. Because that thread is identical to this one in nearly every way. Now that your work is done here, why don't you go to the car forum and belligerently announce that there is already a thread involving a car and link them to it? Then you can pat yourself on the back and remind yourself what a clever little man you are.

The funny thing is, you seem to think you actually mean something and to think your little insult game is very clever. You aren't and it isn't.

Who was the guy you didn't want as a mod? I really want him back here so you will leave so if anyone has his email address I would be grateful.

Think it was sweetkasting.

Tegellan wrote:The funny thing is, you seem to think you actually mean something

at least your irony is entertaining. who the fuck are you?

umm he is a person who played EQ and has an opinion, no more and no less important then you. Just like everyone else on this site.

kyoukan wrote:

Tegellan wrote:The funny thing is, you seem to think you actually mean something

at least your irony is entertaining. who the fuck are you?

The fact that you don't know who I am, is actually a positive thing to me. Probably because I like to keep a reasonably low profile and not spew idiotic bullshit all over the place every chance I get. =)

Tegellan wrote:not spew idiotic bullshit all over the place every chance I get. =)

you don't say

bitch.

when did this turn into a therapy thread for butthurt losers

kyoukan wrote:

Tegellan wrote:not spew idiotic bullshit all over the place every chance I get. =)

you don't say

Nice to know I put you in your place =)

Fairweather Pure wrote: We thought about that, but we're doing other things with the extra cash, like improvements on the house, increasing our insurance policies (life/aflec/ect), and other boring stuff like that. We're both 31yrs old, and we're going to start trying for a child soon so it's time we strat really concentrating on the big picture. My mother in-law passed recently due to cancer, and we've since vowed to make an effort to take vacations, travel, ect. in order to start making some real memories for ourselves instead of working your whole life just to die years before you retire. That kinda stuff takes money to do and we're going to save and spend it guilt free.

That is the same attitude my wife and I have taken for the last few years. Our HH income is up there but we live modestly until it's time for having lifetime memories. We look very frugal day to day(aside from our house and it's location) and a bit over the top to make our few true experiences the best they can be. Both of my parents nearly died three years ago, mother from cancer in her uterus, and my father of congestive heart failure. Looking back, they kept putting things off to get to retirement and made far too many sacrifices for their moment that almost never came. As a child, my vacations sucked. I pulled so little away from them that it's actually sad. My daughter isn't going to have that feeling and she sure as hell isn't going to be left hanging when it comes to financial decisions whether it's credit cards or saving in general.

I'll be honest, I don't completely disagree w/ what Kyo is stating. Just the fact that educated individuals can still get into credit trouble is a sign of how sneaky the concept is. When I think of fiscally stymied individuals though, I usually think of those that play pick3 and 4 lotteries with their little list of numbers. The whole process is like a daily routine much like getting a cup of coffee so a comparison to a casino is not truly on target. People will regularly spend $100 to receive $65 and the payoff is so damn small when that luck moment hits, it's obvious it's a trap for poor people with no money sense. People will throw $5 a day on numbers and hit the pick 3 once or twice a year just to win a couple of hundred dollars. It's so fucking sad to watch. And they're all poor people doing it, remaining permanently poor for a reason. And it's not even for glamorous reasons.

Chidoro wrote:

Fairweather Pure wrote: We thought about that, but we're doing other things with the extra cash, like improvements on the house, increasing our insurance policies (life/aflec/ect), and other boring stuff like that. We're both 31yrs old, and we're going to start trying for a child soon so it's time we strat really concentrating on the big picture. My mother in-law passed recently due to cancer, and we've since vowed to make an effort to take vacations, travel, ect. in order to start making some real memories for ourselves instead of working your whole life just to die years before you retire. That kinda stuff takes money to do and we're going to save and spend it guilt free.

That is the same attitude my wife and I have taken for the last few years. Our HH income is up there but we live modestly until it's time for having lifetime memories. We look very frugal day to day(aside from our house and it's location) and a bit over the top to make our few true experiences the best they can be. Both of my parents nearly died three years ago, mother from cancer in her uterus, and my father of congestive heart failure. Looking back, they kept putting things off to get to retirement and made far too many sacrifices for their moment that almost never came. As a child, my vacations sucked. I pulled so little away from them that it's actually sad. My daughter isn't going to have that feeling and she sure as hell isn't going to be left hanging when it comes to financial decisions whether it's credit cards or saving in general.

Never put things off. Travel and experience things when you're young. The whole retirement thing bothers me. Who wants to do things when you're an old geezer with a worn down body and when your mind is going? Your best years are up until around 50 (well, until 30 if you get married). All of your senses start to dull so the experience at 50-60+ isn't the same as if you did it in your teens-40's. Depending on your financial state, you may still need to work in a cubical most of your good years but your vacations, weekends, etc should be taken full advantage of.

Enjoy every day and if things go badly at the end where you have huge medical costs or are really gimpy, kill yourself so your kids don't have to take care of you.

carpe diem bitches! ok, heading back to Second Life now!

hey Fair, was your getting off debt triggered by the whole Oprah's Debt Diet thing by chance?

Ennia wrote:hey Fair, was your getting off debt triggered by the whole Oprah's Debt Diet thing by chance?

Nope. Never heard of it.

So where is line drawn between personal responsibility and shrewd traps designed to bury people in debt and profit from them? what about a little old lady being scammed by a con artist? maybe she should have been aware. how about the tens of thousands who had their retirement savings stolen by enron executives? maybe they should have looked harder into where there money was going.

I could care less about granys retirement savings. We're talking about credit card companies. Listen you stupid bitch. No one fucking put a gun to their head to apply for the credit card and rack up thousands of dollars on it. You're one of those people that want to protect stupid people from themselves aren't you?

wow dood ur hardcore i bet the ladies love your luke perry attitude

If there weren't people around to look out for stupid people you wouldn't have made it passed pre-school.

You're one of those people that want to protect stupid people from themselves aren't you?

Yes because otherwise we end up paying for their mistakes.
Simple really.

kyoukan wrote:wow dood ur hardcore i bet the ladies love your luke perry attitude

If there weren't people around to look out for stupid people you wouldn't have made it passed pre-school.

And if stupid people didn't exist, you would have been an abortion. Or, better yet, a stain on a sheet.

It's not the credit companies that need to change. Our high schools need to have an entire class dedicated to credit during a student's senior year.

The only thing kyoukan has been in the ball park on is that most people start getting credit card offers before they have a clue about how revolving credit, or any credit works. A mandatory class in high school would go a long ways to help give new credit card holders an awareness of how things work.

The problem I have with the situation is not that people screw up their credit or that the credit companies try to screw people, it's that our education system doesn't recognize that credit education is as important as anything else taught in high school.

Winnow wrote:It's not the credit companies that need to change. Our high schools need to have an entire class dedicated to credit during a student's senior year.

The only thing kyoukan has been in the ball park on is that most people start getting credit card offers before they have a clue about how revolving credit, or any credit works. A mandatory class in high school would go a long ways to help give new credit card holders be aware of how things work.

The problem I have with the situation is not that people screw up their credit or that the credit companies try to screw people, it's that our education system doesn't recognize that credit education is as important as anything else taught in high school.

I agree with this and I have read some stories about more focus being put onto this sort of thing. My college coach actually had a "class" for the team to go over things like this. Many of the other guys came to the school without ever having the money to open a checking account, so there was no way they could have had a credit card yet. It was filled with good information and tips on what to look for (as well as what to look out for).

There are rules in place regarding what information must be disclosed in those credit card offers. Most companies only disclose what they have to. That information is usually sufficient to determine if it is a good deal or not. The problem is not the company or what they disclose. The problem is that the person reading it has no clue what is "good" or "bad" for them.

Winnow wrote:Never put things off. Travel and experience things when you're young. The whole retirement thing bothers me. Who wants to do things when you're an old geezer with a worn down body and when your mind is going? Your best years are up until around 50 (well, until 30 if you get married). All of your senses start to dull so the experience at 50-60+ isn't the same as if you did it in your teens-40's. Depending on your financial state, you may still need to work in a cubical most of your good years but your vacations, weekends, etc should be taken full advantage of.

I've never agreed with anyone on this board more than right now.