I'm feeling the effects of the credit crunch

[Asher]

Originally posted by Dauphin


Nice, unless you have occassion to use the new limit all it really does is increase their liability risk if your card is stolen.

It's almost as retarded as the cheques related to a card they send out without letting you know. Send it to a wrong address and someone else has your chequebook that you never knew about nor expected to receive.

Yes, I asked them officially to stop raising unless I explicitly ask. I'm not worried about the liability...if I don't purchase something, I'll be damned if I pay for it.

I don't even carry a balance so having $15K is obscene.

[Jon Miller]

I have the sevreal credit cards with the same sort of limits.

And I make 20k a year.

JM

[Winston]

I think I'll pay out a partial mortgage of ~$10,000 at 8% p.a. next month. The money just sits in my account anyway. And not at 8% p.a., I might add.

[Dauphin]

A mortgage at 8%?!?!

[Winston]

A mortgage, of sorts. Additional financing above the 80% limit that we have here on traditional mortgages - from when I bought my home in 1997. It's deposited with a bank, to which I pay ~$300 every quarter for its ammortisation. It gets a little tiresome, especially since I have the means to pay it out in full.

[Apocalypse]

I upped my previous limit of 2500 to 6000. They would never do it automatically because I always pay it off every month.

[The Emperor Fabulous]

Re: Re: Re: I'm feeling the effects of the credit crunch

Originally posted by Theben


At 1st I thought this was a joke, now I'm not sure.

It isn't. But I'm not looking for pity. I just got a job renting apartments at one of the top places in Boston, so I'll be fine in a couple months. I also have enough friends with couches to get by. This is what I'm affectionately calling my Penance Period.

I did get to my parents' house though

Krill: I got an acting degree at a school that is the #6 worst in the nation for Financial Aid. Wicked smart.

[Dr Strangelove]

Re: I'm feeling the effects of the credit crunch

Originally posted by Dauphin
Damn credit card company won't give me an increase in my credit limit so I can spend $3,000 on a train pass.

I defy anyone to tell a more tragic story of credit deprivation.

Gee, that's $50/week. At those prices I'd wonder if driving wouldn't be cheaper.

[Traianvs]

Re: Re: Re: Re: I'm feeling the effects of the credit crunch

Originally posted by The Emperor Fabulous


It isn't. But I'm not looking for pity. I just got a job renting apartments at one of the top places in Boston, so I'll be fine in a couple months. I also have enough friends with couches to get by. This is what I'm affectionately calling my Penance Period.

I did get to my parents' house though

Krill: I got an acting degree at a school that is the #6 worst in the nation for Financial Aid. Wicked smart.

You mean you work in the real estate business now?

[Dauphin]

Re: Re: I'm feeling the effects of the credit crunch

Originally posted by Dr Strangelove


Gee, that's $50/week. At those prices I'd wonder if driving wouldn't be cheaper.

Nowhere close. Aside several practical reasons why I wouldn't drive, the London congestion charge is about $12 a day, parking another $12 a day at least. Then add petrol at about $25 a day. Then add in car depreciation, maintenance etc....

[DrSpike]

Dauphin is right - I'll be buying my new season ticket in the New Year as well. However mine is slightly cheaper and I think I have just about enough to cover it so not really a good story.

[SlowwHand]

But one hell of an effort.

[Dauphin]

Originally posted by DrSpike
Dauphin is right - I'll be buying my new season ticket in the New Year as well. However mine is slightly cheaper and I think I have just about enough to cover it so not really a good story.

Buy it to commence on 31 December and you'll get 2008 prices. Buy it after the New Year and you'll be paying 2009 prices.

[Thue]

I never understood the idea behind credit cards. You might as well have a debit card, and then just make sure you always have a buffer of money on the card. Then you don't have to pay interest.

There is little practical difference between considering your target account balance to be +3000$, instead of -$3000. If you then really need the money then you can draw on that.

That is what I do, I have never owned a credit card, only a debit card... works nicely.

[Adrian Hon]

For one thing, I get free insurance on a lot of the things I buy with my credit card. I can also get refunds if, say, an airline goes bust, or chargebacks if I get faulty goods. If you pay off the balance every month, then those benefits come for free.