Credit rating

[Paul B]

Do you ever get those annoying phone calls telling you that if you change to this card they can lower your credit rating or use this bank to lower your credit rating? Or get miles, pies, trips, opera tickets, recipies, double miles for the purchase of frags, etc.
I am not a banker and I don't understand credit ratings or any kind of credit very well.
I don't know what the credit card companies charge for credit and I don't care because I never bought anything on credit. It doesn't make sense to me. If I don't have the money now, why would they think I would have it in a few months and pay more for the same thing that I couldn't afford the first time I tried to pay for the thing?
When I get those calls I tell them to raise my credit card interest to 200% if they like. I mean if you already own your house and car like many of us Geezers do, who cares what they charge for credit?
Of course if I was 20 years old and needed everything, that may concern me.
Another thing I don't understand is banks, interest specifically. Today I went to the bank to cash a $2.00 refund check from a utility company.
Yes, I know, that is stupid to begin with. But anyway I am waiting in line and this pretty girl comes up to me and asks me if I want to put money in a CD.
At first I thought she said DVD and I know about those, they are smaller records. But anyway I will talk to a pretty girl about anything so I went and sat with her at the desk.
She said I could put $10,000.00 into a CD and it would be a good thing.
I asked, Why is that? She said, because you get interest.
I was already interested in her but being I am married and she was younger than my daughter I asked how much interest would I get?
She said, very proudly, we are offering .03% in 6 years.
I am also not very good in math but we figured it out and that comes to
$50.00 a Year, in 6 years. Or about $4.00 a month.
So I said to her that if I wanted to tie up $10,000.00 for 6 years and make a profit of one dollar a week it would almost pay for my gas to come to the bank as long as I find a parking meter that has some time left on it or I will be in the red, and if I get a parking ticket while I am in the bank I will have to wait 18 more years to break even.
She was good looking, but not that good looking. :faint:

 

[Planedoc]

Credit does have a good place in the free market.
Look at a payday loan store, you write them a check for $120 on Sunday afternoon, they give $100 in cash and promise not to cash it for 2 weeks. Basically $20 interest on a 2 week loan is 520% annually. Sounds bad but say you are a 20 year old with no money in the bank and the battery on you only car dies. If you wait until Friday (payday) to buy a new battery you and your wife will no longer have jobs and you will both be out a weeks pay. For a small $20 fee you get your car running, make it to work and keep your job.
Problem is the couple most likely spent $150 eating out, $100 more on drinking and $75 on some coral on that weekend money that could of been in the bank for such an emergency. It's sad that cd rates and savings rates are under 1% buts it nice to have a 30 yr home mortgage fixed at 3.75%.
Next time the nice bank lady pulls you aside spend more time looking and less time listening.

Tapatalk on Galaxy S3

 

[Paul B]

Tell the bum to go out and get a job and when it snows to find a snow shovel and shovel snow for the $20.00 or look for a house where the grass needs cutting and borrow a lawn mower then charge the guy $20.00 to cut the lawn. Or find a dirty car and wash it for someone, do it 3 times and charge them $20.00.Then instead of dinner, eat cake, cheap cake, like maybe twinkies or something. Then tell his wife to wrap burlap around her feet instead of buying $150.00 high heels. It's simple. :peace:

 

[Aquaph8]

Credit does have a good place in the free market.
Look at a payday loan store, you write them a check for $120 on Sunday afternoon, they give $100 in cash and promise not to cash it for 2 weeks. Basically $20 interest on a 2 week loan is 520% annually. Sounds bad but say you are a 20 year old with no money in the bank and the battery on you only car dies. If you wait until Friday (payday) to buy a new battery you and your wife will no longer have jobs and you will both be out a weeks pay. For a small $20 fee you get your car running, make it to work and keep your job.
Problem is the couple most likely spent $150 eating out, $100 more on drinking and $75 on some coral on that weekend money that could of been in the bank for such an emergency. It's sad that cd rates and savings rates are under 1% buts it nice to have a 30 yr home mortgage fixed at 3.75%.
Next time the nice bank lady pulls you aside spend more time looking and less time listening.

Tapatalk on Galaxy S3

Your priorities are all out of whack, its $250 on coral, $75 on drinking and ramen noodles every night.

Tell the bum to go out and get a job and when it snows to find a snow shovel and shovel snow for the $20.00 or look for a house where the grass needs cutting and borrow a lawn mower then charge the guy $20.00 to cut the lawn. Or find a dirty car and wash it for someone, do it 3 times and charge them $20.00.Then instead of dinner, eat cake, cheap cake, like maybe twinkies or something. Then tell his wife to wrap burlap around her feet instead of buying $150.00 high heels. It's simple. :peace:

Nope Hostess closed, no more twinkies dang it. Man I miss those things and I refuse to eat the cheap knock off ones.

 

[ritter6788]

Maybe someone should use credit to buy the Twinkie name and recipe and start making them again. I guess as long as Little Debby is around I'll be ok. I'd take a Nutty Bar or a Star Crunch over a Ding Dong any day.

 

[Aquaph8]

Im missing those chocolate cupcakes the most.

 

[rapalaboy1999]

This turned from a discussion about credit into a reminiscing of Twinkies and Cupcake lol


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[Paul B]

Maybe someone should use credit to buy the Twinkie name and recipe and start making them again.

Someone did, thats why I mentioned Twinkies. But I don't remember who. I don't eat them so I am not that interested. But if you put one in front of me, I am sure I would eat the thing. :croc:

 

[Aquaph8]

I had to look it up, all the Hostess products are coming back starting next month.

 

[Paul B]

See someone who you feel deserves the Reef2Reef Community Excellence award? Click on the Excellence icon below and pm me your nomination

What exactly is that for? Is that like for the person with the most hair, best build, smartest fish, cleanest water, clearest skin, nicest smell? I have a Grand one of these, does that count?

 

[Aquaph8]

It's for helpful people that go out of their way to help others. No need for hair at all.

 

[kuyatwo]

Insurance companies will look at your credit score the higher the credit score the lower your insurance.


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[Reef Pets]

It's for helpful people that go out of their way to help others. No need for hair at all.

Thats good news because if hair is a requirement then I'm out.

 

[Aquaph8]

It doesn't really go away it just grows some place else haha