popgun Posted February 2, 2005 Report Share Posted February 2, 2005 I was just watching a program on PBS (Frontline) about Credit Card Companies. Credit card companies call someone who pays their bill at the end of each month, "Deadbeats". They don't make any interest off of us. Those credit card customers that carry over balances are called "rollovers" or "Good Customers". Credit card companies can change the interest rate any time they choose. Even if your State has a usury law that limits interest rates, the interest rate charged is that of the State in which the card comes from, and not your home State. Many are homed in SD because they can go 25% or more if they wish, plus other charges. No other business can, within the law, charge you more for an item after the purchase except credit card companies. What a bunch of crooks! Credit card companies in this day and age are the "loan sharks" we were warned about when we were young. Beware of high interest rates or low introductory rates that can soar any minute. Never get caught up in credit card debt that is so deep you can only pay the minimum. Always pay more than the minimum. You can read more about it at www.pbs.org (Frontline) I guess in this case I am proud to be called a "Deadbeat". .....popgun Quote Link to comment Share on other sites More sharing options...
dogdoc Posted February 2, 2005 Report Share Posted February 2, 2005 Re: Different kind of \"Deadbeat\": I never thought I'd be proud to be called a Deadbeat! Quote Link to comment Share on other sites More sharing options...
Guest DJR Posted February 2, 2005 Report Share Posted February 2, 2005 Re: Different kind of \"Deadbeat\": credit cards are the devil!!!! Quote Link to comment Share on other sites More sharing options...
OJR Posted February 2, 2005 Report Share Posted February 2, 2005 Re: Different kind of \"Deadbeat\": Another "Deadbeat" here!!! Quote Link to comment Share on other sites More sharing options...
popgun Posted February 2, 2005 Author Report Share Posted February 2, 2005 Re: Different kind of \"Deadbeat\": I don't think credit cards are the Devil, but irresponsible use of them will sure make you feel like you live next door to him. .....Deadbeat popgun Quote Link to comment Share on other sites More sharing options...
horst Posted February 2, 2005 Report Share Posted February 2, 2005 Re: Different kind of \"Deadbeat\": I had my computer financed through a credit card company a few years ago.I made all the payments, and was doing great, i even paid a little extra a month for accident insurance, if I was injured at work it would pay the payments on the computer for me, it was all through the same company. I cut my thumb off at work a few years ago, and was late with the payment that month, which wasnt really suprising since i had other things on my mind and couldnt finish the job we were doing at the time. Anyway I called em a couple days later and heres what happened.First, the insurance payment was late, so they informed me they had cancelled the policy, and i was responsible for the payments. Second I was outta work for dang near 3 months, and they kept adding late fees, surcharges, interest etc..untill I was back to where I started on the balance, 3 months worth of surcharges wiped out 1 years payments just like that. Finally when I was able to start work again they set me up with a new payment schedule.I paid them 89$ a month for almost a year and realized the bill was still going up.I called and raised ****. The insurance which they had dropped had been tacked back on as soon as the next payment was recieved.I was also now being charged over the lmit fees on top of everything else.the money I was sending them wasnt even covering the extra fees. Long story short a 1500$ computers got me still 5000$ in debt to these people, and aside from not making any payments and letting them take me to court I cant do anything much about it. Moral of the story, even if your using them resposibly it only takes one or two late or missed payments to to get to the point where you can never catch back up to the balance you owed.Be carefull with them Quote Link to comment Share on other sites More sharing options...
Shaun_300 Posted February 2, 2005 Report Share Posted February 2, 2005 Re: Different kind of \"Deadbeat\": i just turned 18 in december and everyone asks me if i got a credit card yet.... YA RIGHT!!! once i get out of college and get a job, sure. but not yet Quote Link to comment Share on other sites More sharing options...
stevebeilgard Posted February 2, 2005 Report Share Posted February 2, 2005 Re: Different kind of \"Deadbeat\": another happy deadbeat! Quote Link to comment Share on other sites More sharing options...
Gus Posted February 2, 2005 Report Share Posted February 2, 2005 Re: Different kind of \"Deadbeat\": [ QUOTE ] I never thought I'd be proud to be called a Deadbeat! [/ QUOTE ] Same here Have 2 gas cards and they get paid in full every month Quote Link to comment Share on other sites More sharing options...
buckee Posted February 2, 2005 Report Share Posted February 2, 2005 Re: Different kind of \"Deadbeat\": I try my best to be a "Deadbeat", every chance I get. I was a "rollover" for about 3 years after hurting my back and it doesn't make me feel too great to be called a "good customer" with those crooks . Quote Link to comment Share on other sites More sharing options...
archerjg Posted February 2, 2005 Report Share Posted February 2, 2005 Re: Different kind of \"Deadbeat\": I agree they are crooks. The companies hope that they can get as much interest from the card holder as possible. I try to keep it all paid off so that I do not accumulate interest. It is good being a deadbeat. Archerjg Quote Link to comment Share on other sites More sharing options...
wtnhunt Posted February 2, 2005 Report Share Posted February 2, 2005 Re: Different kind of \"Deadbeat\": Guess I am a deabeat too. Unless something happens we never carry a balance over and on the rare occasions we do, it is always on a fixed low rate card. Quote Link to comment Share on other sites More sharing options...
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