Yep. That interest rate is a scary SOB. Not quite sure why the companies are allowed to carry the same rates on their cards as loan sharks do, but it's pretty despicable.
Middle-class dreams a ‘myth’ in troubled economy: internal government report
- Thread starter Goober
- Start date
We have "prime+" cards. Both, ATM, are under 10%. And yes, I know there are cards out there with rates like 23%.
Like you we pay off ahead of or on time.
We shop at Costco- 2 % on purchases and Amex 2 % as well.
More than pays the membership fee.
We wait for sales.
I d*i*c*k*er- Buy a pair of shoes, I want extra shoelaces for free. They wear out before the shoes do. And they best be on sale, or no go.
Missing my point gentlemen, there are a lot of people that don't get these low interest cards. If they want a CC then they don't have a choice, and these days, you HAVE to have a credit card. You HAVE to have a loan.
Let me throw one more little curve ball to ya. You all talk about paying cash wnever possible, or using the CC's and paying them off by the end of the month so it IS like just using cash as if using cash only is the be all and end all of being fiscally responsible. I'll tell you right now, that is the furthest thing from the truth. The WORST thing someone can do is pay cash for everything. To live "within" their means.
We live within our means.
The total saving we have increases from month to month.
I have 1 years backup saved.
I use the CC doe to cash rebate.
All the benefits of the middle class were predicated on the tax base that
included participation by individuals, business and the income from the
natural resources we had. Then the sales job began. We were told of
the New World Order (actually a term first coined by Hitler) and the idea
of a global economy that would lift the third world out of poverty and we
would all benefit.
In short we saw government abdicate its responsibility to the people it
serves and put the country in the hands of large corporations and those
speculators who haven't done a good days work in their lives.
The freed trade deals that benefit the few at the expense of the many for
little real gain, and the speculation on markets combined with the race
to the bottom for wages and working conditions has destroyed the dream
of the middle class and the working poor.
There are some differences though. These same people have continued to
plunder the economies of the world and there is about to be a massive and
harsh adjustment. The last great depression impacted about twenty fiver
percent of the workforce the impending depression will impact eighty percent.
With that will be the public's rethink of the system itself and those speculators
will find their gravy train has come to the end of track. Look at the current
market conditions they are flying at times without taking in the realities of slowing
growth. That means everyone's dream will feel the pain.
included participation by individuals, business and the income from the
natural resources we had. Then the sales job began. We were told of
the New World Order (actually a term first coined by Hitler) and the idea
of a global economy that would lift the third world out of poverty and we
would all benefit.
In short we saw government abdicate its responsibility to the people it
serves and put the country in the hands of large corporations and those
speculators who haven't done a good days work in their lives.
The freed trade deals that benefit the few at the expense of the many for
little real gain, and the speculation on markets combined with the race
to the bottom for wages and working conditions has destroyed the dream
of the middle class and the working poor.
There are some differences though. These same people have continued to
plunder the economies of the world and there is about to be a massive and
harsh adjustment. The last great depression impacted about twenty fiver
percent of the workforce the impending depression will impact eighty percent.
With that will be the public's rethink of the system itself and those speculators
will find their gravy train has come to the end of track. Look at the current
market conditions they are flying at times without taking in the realities of slowing
growth. That means everyone's dream will feel the pain.
There are thousands upon thousands of people in this country that can only dream of doing what you and gilbert do.
but forget it, been down this road before, always goes the same way.
Gerry - Both of us realize that. Reason why these pay day loan companies make a killing- off of the working poor.
The Banks want nothing to do with small loans- What is a solution
The banks want nothing to do with anyone that has not put themselves in debt from day one. If you worked hard, paid cash for everything. Paid your rent and utilities on time, all the time. Paid your taxes. Stayed away from credit cards and borrowing. You are screwed if you ever do want to borrow money. A mortgage? Forget it.
Just met a fella recently who has his house, boat, and everything paid for, doesn't even have a wallet, just one card and it's his debit card and told me he'd never had a credit card. He works as a maintenance/janitor for a local co-op grocery store. Really nice fella. I convinced him to quit smoking. Er more like gave him the final straw that pushed him into the quitters' ranks.
Yeah, ok, Gerry, we're very miserable that we have everything paid for and live within our means. It's atrocious.
It's doable. And I see nothing wrong with it. It took an awful lot of hard work and we had to do without some stuff that'd have been nice to have but we're comfy and healthy and happy.
We can forget it if you wish but I don't know what this "same way" is.
Sorry, but we have the highest credit rating possible. ATM, if we wanted to we could buy a house on credit and probably still have enough credit left over to buy a car. Even though we have paid off the cards at the end of the month the credit card companies keep upping our limits and do that once a year I think. It's kind of funny in a way.