Your Credit Card and Your Bank

[mathjak107]

Yes thats true, they cant

[yukiko11]

I am of the generation that was brainwashed into thinking that if you didn't have a credit card you were a second class citizen. During my marriage, my husband ran up an amazing amount of debt and also started following some nut that claimed income tax was illegal and we shouldn't pay it or file.
Let me tell you, that cost us dearly. Way back in 1983 We ended up paying almost 6700 for a 2599 tax bill the year he claimed exempt and I had to get a second job to pay off the credit cards. He died a few years later and left me with even more debt, because the cards I cancelled, he had re-opened and removed me as a cardholder from the account. He also forged my name to several loans which fortunately, I was able to prove were forgeries. As we lived in a community property state, I was responsible for the debt.
After all was said and done, I got my boss to arrange with the companies bank manager for me to get a car loan based on the security of my job, Then I bought a small house with down payment money I borrowed and paid back to a friend. It took a 25 years, but now I have a very high fico score and although I use my credit card for everything to earn the free stuff, I pay it off every month. This enables me to earn a little extra interest on my money and costs me nothing. On the other hand, my interest rate on my credit card is 14.99%! As long as I am not paying it, I don't care, but what happens when we will have to start paying monthly or yearly fees?
In my profession, I usually undergo a background and credit check and if I cancel my cards, my fico score will go down. That could prevent me from getting a job. What a lot of people don't realize, is that when they start putting medical records into a national database, it could also prevent you from getting a job. Who wants to hire someone who has a chronic/terminal disease or has been treated for drug/alcohol abuse or mental problems knowing that there is a good possibility of higher medical bills in the future?
I can only hope that I can retire before I have to bear the burden of all those people out there who go out and buy whatever they want and then just walk away from the burden of the debt. I am not talking about the victims of this recession, but rather those that just go on with life like nothing happened. I received a call once from a friend who was planning to file for bankruptcy. She told me she had 10K left on her credit cards and did I need or want anything before she filed. I was shocked! For these people, am beginning to see the positive side of debtors prision.
Aren't we carrrying enough on ourr shoulders to help the poor and unfortunate that we should have to take the thieves on too?

[Jungle George]

Originally Posted by roxxy38

One of my credit card companies changed their rates, I was outraged for the same reasons as you. I called another company, did a payoff with 1.99 % interest for a year and paid off the other card. The part that makes me really mad is...if I close the original credit card I will lose 40 points on my credit score. What a crock that is.

They also raised the score for excellent credit from 730 to 780 (or thereabouts). So now its harder to get a mortgage or other loan. Thats another problem for people with good credit. They (the banks) should of thought about that when they were giving credit to people that claimed bankruptsy and had bad credit. People that couldnt afford homes, cars and whatnot were getting any kind of loan. Now with just good credit they wont do anything for the consumer. It really is not fair for the person that plays by the rules and pays his bills. Its all just a bunch of crap. I wish I was more like my parents and grandparents, they paid for everything in cash!!!!

I use Discover for everything. No yearly fee & they give me "cash back" credit on all my purchases. And since I pay my balance in full monthly, they actually end up paying ME to use their card!! It ain't much, but 5% off all my purchases from gas to food to whatever, it adds up!!

[roxxy38]

[quote=yukiko11;8896935]In my profession, I usually undergo a background and credit check and if I cancel my cards, my fico score will go down. That could prevent me from getting a job. What a lot of people don't realize, is that when they start putting medical records into a national database, it could also prevent you from getting a job. Who wants to hire someone who has a chronic/terminal disease or has been treated for drug/alcohol abuse or mental problems knowing that there is a good possibility of higher medical bills in the future?
quote]


No one can get your medical records, and no one can use them so you dont get a job. Its against the law and against HIPPA. Also its discrimination.

[roxxy38]

Originally Posted by Jungle George

I use Discover for everything. No yearly fee & they give me "cash back" credit on all my purchases. And since I pay my balance in full monthly, they actually end up paying ME to use their card!! It ain't much, but 5% off all my purchases from gas to food to whatever, it adds up!!

I agree, I dont pay off my cards each month but I use my cards wisely and try to get as much as I can from the companies. Unfortunately they are making it more difficult. I have excellent credit and they still raised my interest (Bank of America). The funny thing is that when I checked my credit score it would go down 40 points if I closed that account. So of course I have to keep it. Sometimes though banks close accounts for inactivity.

[mathjak107]

[quote=roxxy38;8902259]

Originally Posted by yukiko11

In my profession, I usually undergo a background and credit check and if I cancel my cards, my fico score will go down. That could prevent me from getting a job. What a lot of people don't realize, is that when they start putting medical records into a national database, it could also prevent you from getting a job. Who wants to hire someone who has a chronic/terminal disease or has been treated for drug/alcohol abuse or mental problems knowing that there is a good possibility of higher medical bills in the future?
quote]


No one can get your medical records, and no one can use them so you dont get a job. Its against the law and against HIPPA. Also its discrimination.

sorry , thats not true, i wish it was. the records are already there...every medical claim form you ever filed is on file in the data base...its used by insurance companies both for life insurance, medical, disability etc to getra history on you. applications for various things have you signing allowing the release of medical records

http://www.privacyrights.org/fs/fs8-med.htm