[faithfulFrank]

Since the original poster stated that she was not talking about western NY, there is no need to state that my taxes on my Florida home are less than 1/2 of what my western NY taxes are...

My Western NY home appraises about 75-100k higher then my Florida home, and are about double ...........(Florida, <3k, NY, >6k) That is just property taxes, not income taxes, etc......

As to people accepting mortgages they cannot afford, or using credit cards to the max......they have no one to blame but themselves.

THEY know how much they can afford. THEY signed the papers, or used the plastic.....It's almost like the person who said to the bank..."I can't be out of money...I still have checks left!!"

The day I fail to pay the complete credit card statement when it comes, the day I pay even a penny interest on my credit cards, is the day I'll cut every one of them up.......

Whatever happened to living within one's means....spending less then you make and SAVING???? I always prefered having the law of compounding interest working FOR me rather then AGAINST me.......

Sorry...please forgive my rant......

Frank D.

[TriMT7]

Originally Posted by kort667

hey, nobody is twisting your arm when it comes to using credit cards, if you don't like the terms or the fees nothing is stopping you from cutting those cards up.

Give me a break. This country's entire economy is dependent on people over-extending themselves on credit. Even the federal government has a platinum card issued by the First Bank of China. The housing bubble itself is an extension of that trend of over-extending credit, and that bubble has been the only thing keeping the economy afloat these past few years as people decide its smart to pay off their summer vacation over 30 years with a second mortgage!

But hey, nobody is twisting the credit card company's arms to give out credit cards and extend credit like its candy either. Might as well put the damn things in vending machines. However it always seems to be the user, not the enabler, that always seems to get punished through new bankruptcy laws when the credit card companies are just as negligent in extending credit to unqualified persons! I get probably 3 "pre-qualified" credit card solicitations a day. There IS such thing as "predatory lending," you know!

[TriMT7]

Ah, I see. "Parrot" indeed! No real rebuttal to any points I made so go ahead and resort to name calling. Classic AM talk radio tactics you got there!


Of course people who overspend will always be in trouble. What does that have to do with credit card companies taking advantage of people? Or the fact that's how things are done in this country? How about we just remove all protections for consumers altogether? But if you're a multi-national, billion dollar company extending credit to people who shouldn't get it, why don't they have to live with the consequences of THEIR actions?

[kort677]

Originally Posted by TriMT7

Ah, I see. "Parrot" indeed! No real rebuttal to any points I made so go ahead and resort to name calling. Classic AM talk radio tactics you got there!


Of course people who overspend will always be in trouble. What does that have to do with credit card companies taking advantage of people? Or the fact that's how things are done in this country? How about we just remove all protections for consumers altogether? But if you're a multi-national, billion dollar company extending credit to people who shouldn't get it, why don't they have to live with the consequences of THEIR actions?

who is getting taken advantage of by a credit card company?
people who shouldn't have credit? people who are too stupid as to not to spend what they don't have? whose fault is that?

if you feel that you are being taken advantage of stop using that card!
you are their customer, use of the card is voluntary.

if you don't like a companies business practices or they way that they treat you and you continue to do business with them, what does that make you?

I know I wouldn't d business with any company that didn't act fairly with me, would you?

[TriMT7]

Originally Posted by kort677

who is getting taken advantage of by a credit card company?

The American public.

Originally Posted by kort677

people who shouldn't have credit? people who are too stupid as to not to spend what they don't have? whose fault is that?

I wouldn't lend my car to a a drug addict, yet corporations seem ready and able to give people credit cards who don't deserve it. Whose fault is it if I DO, however, and the drug addict crashes my car. Who bears at least contributory negligence?

Whose fault is it REALLY, when you deal in the credit business with people who aren't credit-worthy? Or you go after the uncreditworthy or those of less means with terms and programs they probably can't understand and PROBABLY explains why they aren't credit-worthy in the first place?

Originally Posted by kort677

if you feel that you are being taken advantage of stop using that card!
you are their customer, use of the card is voluntary.

if you don't like a companies business practices or they way that they treat you and you continue to do business with them, what does that make you?

Oh how incredibly tedious this is becoming. Here, learn how things work "in the real world" and not in your bubble world where everyone plays nice and capitalism benefits us all:

http://en.wikipedia.org/wiki/Predatory_lending

Originally Posted by kort677

I know I wouldn't d business with any company that didn't act fairly with me, would you?

Fine. But it's a two-way street. What kind of idiot corporation extends credit to people who don't deserve it and then whines and complains to big daady government for "protection" when the people they do "business" with want to declare bankruptcy.

Only difference is consumers don't have the lobbying power that credit corps do!

[dreamofmonterey]

Originally Posted by kort677

what's predatory? using credit cards is voluntary, stop parroting the crap you see on TV

lol- how old are you.
I have worked in banking. Do you enjoy paying credit card interest at usurious amounts- (usurious= excessive- look it up). Wake up.

[dreamofmonterey]

Originally Posted by TriMT7

The American public.



I wouldn't lend my car to a a drug addict, yet corporations seem ready and able to give people credit cards who don't deserve it. Whose fault is it if I DO, however, and the drug addict crashes my car. Who bears at least contributory negligence?

Whose fault is it REALLY, when you deal in the credit business with people who aren't credit-worthy? Or you go after the uncreditworthy or those of less means with terms and programs they probably can't understand and PROBABLY explains why they aren't credit-worthy in the first place?



Oh how incredibly tedious this is becoming. Here, learn how things work "in the real world" and not in your bubble world where everyone plays nice and capitalism benefits us all:

http://en.wikipedia.org/wiki/Predatory_lending



Fine. But it's a two-way street. What kind of idiot corporation extends credit to people who don't deserve it and then whines and complains to big daady government for "protection" when the people they do "business" with want to declare bankruptcy.

Only difference is consumers don't have the lobbying power that credit corps do!

Glad you cited that, TriMT. Guess the verbiage is too complex for the consumer paying 25% interest on his Bank of America Visa.

[kort677]

Originally Posted by sunnyhelena

lol- how old are you.
I have worked in banking. Do you enjoy paying credit card interest at usurious amounts- (usurious= excessive- look it up). Wake up.

I pay my balance every month, no interest charges.

my point is that if you use the card to buy things you cannot afford, you have no right to whine about what you are charged for the use of the money that isn't yours.
you knew what the rates were before you overspent and you did it voluntarily.
you may have worked in banking but you sure don't know anything about the banking business

[TriMT7]

Originally Posted by kort677

I pay my balance every month, no interest charges.

Great for you. If everybody did that, though, credit cards would cease to be as profitable for companies as they are now and/or transaction rates for merchants would have to go up. In other words, credit cards NEED people to carry a balance and pay interest on that balance.

Originally Posted by kort677

my point is that if you use the card to buy things you cannot afford, you have no right to whine about what you are charged for the use of the money that isn't yours.
you knew what the rates were before you overspent and you did it voluntarily.

The point is that credit card companies rely on a certain percentage of people to be unsophisticated in the use of credit wisely. That way they can charge the $40 fee for a late payment, or that $40 fee for "going over balance" instead of declining a transaction for insufficient funds. OR, my favorite, when a credit user is "close" to their limit (say, a couple dollars), and then a payment is late for whatever reason (and yes, emergencies DO happen), and the company will charge the $40 late fee, knocking someone over their credit limit, and THEN charge the $40 "over limit" fee when it was the company's own fee that did it!

The law recognizes predatory lending, even if you don't, so I guess its inconsequential if you think it's all "lies on the liberal tv media" or whatever other cliche you'd like to use next.

It seems that you may own a credit card, but you don't know anything about the credit business.

[macguy]

Originally Posted by TriMT7

Ah, I see. "Parrot" indeed! No real rebuttal to any points I made so go ahead and resort to name calling. Classic AM talk radio tactics you got there!


Of course people who overspend will always be in trouble. What does that have to do with credit card companies taking advantage of people? Or the fact that's how things are done in this country? How about we just remove all protections for consumers altogether? But if you're a multi-national, billion dollar company extending credit to people who shouldn't get it, why don't they have to live with the consequences of THEIR actions?

Isn't Bank of America now giving cards to any aliens? I can imagine the great competitive rates they get. They probably start them at 30% or what ever the top they can charge is. They are really going to screw those people. Credit card companies do, in my opinion, take advantage of people who are many time desperate and they need the credit to survive.

Instead of helping them they systematically bury them. They pray on peoples weaknesses. Give them a good rate then set them up to fail and raise the rate hugely. I guess you can say it is their own fault but the way it is done sucks them in. It is a carefully designed system almost like a casino game.