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Discussion in 'The Club House' started by user4, Mar 8, 2010.
Do you guys want to see the annual fees? It's make y'all jealous!
Who's that from Vinnie the loan shark?
Annual fee's a pound of flesh?
OMG That is a rip off. Chase Nailed it to me and jumped mine from 9.99% top effing 29.99% effing douche bags.
I am calling them today and canceling it. then I am going to pay every last dime into that pit till it is paid off and never ever have another credit card again.
Screw you people who think you have to have one. My mom and dad have lived rather nicely without for over 20 years. They both have nice pick ups that are paid off. they have 3 homes and a shop on 4 pieces of land that are all paid off. Yet they don't have a credit card. GO figure you don't need one that is a lie feed to everyone by the credid card companies in the first place to get you stuck into the cycle of paying someone to spend your own money. I was bad at one time. I have 4 credit cards. I was so screwed the hell up with all of them. I ended up with the use one to pay the other. I think credit cards are evil and there is not a single need to own one. Unless you like paying other people money to spend your own money.
Nothing wrong with credit cards.
Caveat: as long as you have the discipline to not charge anything you don't intend to pay in full when the statement comes in. I got my first in 1981 and have never have paid a dime of interest on any of them. The cash back bonus from my Discover card has bought a lot of nifty stuff - and I've had this one since it was created in the mid-80s.
Caveat: I will not have a card with an annual fee...
I completely agree. No annual fees??? So is this bad?
Is that even legal?! Wasn't one of the reasons that loan sharks were originally targeted was that the public could not, in normal payment arrangments, ever get out of debt?
I know the IRS wanted their taxes, but I am sure I remember reading that part of the sales pitch was that it was for the good of the people. The long gouging interest rates that had them paying interest on interest long after the principle was effectively "repaid".
Quick math shows:
If you charge $300 on that card, $20 is the minimum monthly payment, and you never charge anything else:
It will take you 2 years to pay off and you will pay an additional $268 in interest!
There is no way that is not criminal....
Heck, I knew a guy in the Navy that would loan $20 for $40 on the next pay day!!
I learned my lesson shortly after highschool. Since then I haven't had a single credit card and don't want one,ever. If I don't have the cash to get it, then don't get it.
You do have to manage your money well though and save alot. I use a simple spreadsheet to manage my budget which calculates my fixed and variable income, savings, debt,etc.. That way you can see what you and where you are spending.
I also like the 80/10/10 budget. I can live on 80% of my income, 10% to savings, 10% to God.
except for the '81 part, im not that old!!
Reading this I needed to find who the nasty bank or banks were that will charge 59.9% APR and google comes in!
United States : First PREMIER Bank Card Now Offering 59.9% APR Credit Card with $300 Limit and $75.00 Annual Fee. - Free Online Library
We reported last October that First PREMIER Bank was offering a credit card with a 79.9% interest rate to some sub-prime borrowers and it appears that First PREMIER Bank of Sioux Falls Sioux Falls, city (1990 pop. 100,814), seat of Minnehaha co., SE S.Dak., on the Big Sioux River; settled 1856, inc. as a village 1877, as a city 1883. Settlers abandoned the site in 1862 because of Native American raids, but with the establishment (1865) of Fort , SD is at it again. The new offer that the LA Times got a hold of has a slightly lower, although still usurious usurious adj. referring to the interest on a debt which exceeds the maximum interest rate allowed by law. (See: usury) , interest rate and a number of fees which are well above industry average.
The new offer that First PREMIER Bankcard is sending to its customers comes with a $75.00 annual fee, which is 25% of the card s credit limit. There s also a $45.00 processing fee which must customers must pay before the card is issued. There s a $29.00 annual fee for each additional card that customers make use of.
The late payment fee that First PREMIER Bankcard is charging its customers is $29.00 for balances up to $500.00 and $34.00 for balances over $500. There s a $29.00 over-the-limit fee. If you want your credit limit increased, the fee you will be charged is 50% of the amount of increase. This means, if you want to have your credit line increased from $300.00 to $1000.00, you will have to pay a $350.00 fee for the privilege and that s if First PREMIER Bankcard approves the increase.
Cardholders of the new offer that First PREMIER Bankcard is sending out to some customers will also have to pay a $5.00 wire transfer fee and a transfer fee for cash advances, which will be between $5.00 and $10.00 depending on the amount of the withdrawal. This fee is charged to customers that have had their accounts for more than one year. The bank also limits initial cash advances to 10% of the borrower s credit limit.
Finally, customers that end up closing their accounts have the privilege of paying a $3.00 monthly maintenance fee on closed accounts that have outstanding balances of $20.00 or more.
According to according to
1. As stated or indicated by; on the authority of: according to historians.
2. In keeping with: according to instructions.
3. First Premier s website, First PREMIER Bankcard is the 10th largest issuer of VISA and MasterCard credit cards in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. having than 3.5 million customers nationwide. The company says that the company focuses on individuals who have less than perfect credit but are actually still creditworthy
This is the crux really...pay the bill when it comes in, only use for purchases where you can't use cash/debit card...like online purchases etc (eg books, which are often 1/3 of the price on amazon that they are retail here). No interest accrues.
No one will be making any tidy profit off you this way.
manage your money and just get pre paid cards for online purchases.. hell with credit
Almost every purchase I make is on a credit card. The more I buy the more airline mileage I get. The more airline mileage I get the more often She goes away.
I have no idea what my cards APR is, and I don't care. I pay the balance in full every month so the ?% of 0 is 0.
the credit card companies still make their money. they charge the seller a percentage for processing the transaction.
Same here. I do a lot of flying and the miles add up in a hurry when using the card. I then get a free flight now and then. I pay a small yearly fee for the card but in return I get a free flight for a companion each year which more than covers the annual fee. I pay off the card every month so I pay no interest.