Originally posted by GUICE2Im sorry but you are a little dilusional....im not purchasing corvettes and large screen tvs every week on
credit. I had a credit card when i was in college that i used to purchase things i needed. Yet at that age i wasnt educated on the ways of the credit
card as most youngster arent (can you blame us for it?) and these companies know that which is why they set up these tables outside of college
buidlings offering free t shirts and stuff if you sign up for a card.
I'm glad you have to insult people to "defend" yourself, it shows that you have no actual arguments.
I hope you read what you just wrote. Why did you need a credit card to purchase things you "needed"? Why didnt you get a job? I had two jobs. Why
didnt you actually READ the credit card application you signed? Did the credit card company force you to get a card? I went to a college where the
credit card companies did the same thing, and I walked right past them. They didn't force me to sign up for anything, and I did my own homework and
got more favorable credit cards from the same companies.
Originally posted by GUICE2 just because we didnt know the full implications of our actions means that we should be punished with high
interest rates? Its not about your credit history or score anymore because of the ongoing credit crunch....i had a long conversation with a rep from
capital one yesterday and thats exactly what he said. it doesnt matter if you have never missed a payment and can show you can make the current
payment for a loan term....the standards are so unbeleivably high right now that for someone who has had trouble in the past, they are in a situation
currently where it will be impossible to get out of making minimum payments that are astronomical because of the interest rate.
Why yes, you should be punished for not reading what you sign. You can read, can't you? So read it. If you read it and find you don't like the
terms, don't sign up. GASP. OH NOES! PERSONAL RESPONSIBILITY! I sense a theme. Your "conversation" with a representative from capitol one doesnt
mean anything at all - capitol one is a SUBPRIME credit company that gives out credit cards to anyone that wants one - and you'll pay with it in
interest. If you have to use capitol one, your credit sucks. Dump them and get a prime credit card. And actually, for the record the only thing the
credit companies can score you on are things like paying on time and length of credit history - if those things don't matter than they are doing
Originally posted by GUICE2 are all on the same page here buddy....but the fact remains that the same guy applying for a loan 5 or 10
years ago with the same credit history will not get approved in todays economy but would have back then. That again is directly from a manager over at
capital one who i was discussing a auto loan refinance with. Its not so black and white dude, there is a gray area....i mean come on.
Where is the proof for this "fact"? If 5 to 10 years ago you had a few years of good credit history you could get any loan you wanted, and now 5 to
10 years later IF YOU CONTINUED WITH THAT HISTORY I assure you that you could get the same thing. Did you not know that a huge part of your FICO score
is the length of your credit history? Facts are important little things, you know.
If you are going to get your perceptions of the loan industry from a subprime bank, do not be surprised that you get a very different picture than
those of us who deal with prime lenders. You see, I don't need to refinance my car loans - although if I did I could go through a prime bank. You
know why? Because I didn't buy a car I couldn't afford. I saved for a year and bought a $3,000 beater, which has been running fine for 5 years. But
then again, I don't NEED a fancy car, I just need one that runs.
Originally posted by GUICE210 years ago people used their savings accounts as comfort zones but now because of high tax rates, living
costs, rediculous tuition rates and the ever so unconstitutional income tax, people now rely on credit cards as a comfort/safety zone because most
middle class americans have to. And this is true not becuase they spend frivolously....its a corner that a lot of people are being forced into. If you
have shown good payment history and no defaulting in a year they should lower the rate...its that simple, but they dont because of the credit
Yet again, more statements without facts. Where is your proof taxes have gone up, when taxes have been cut across the board for the past 7 years?
Where is your proof that "living costs" have gone up faster than salaries? As for tuition rates - I actually agree. But heres the great thing about
college, if you are smart you won't have to pay those. If you are paying them, then you probably should do better in college. Never pay for college,
thats for fools.
People spend more money when they make more money, thats it. They spend money they don't have. And please stop with the lies, if you always pay on
time and pay more than the minimum you will have a low rate to begin with. The only "credit crunch" which exists is for subprime people. If you are
subprime, then you are not paying your bills on time all the time.
[edit on 13-12-2007 by LightinDarkness]