I can check our bank status at any time, day or night with computers and smart phones. I usually check two or three times per day. We have a Platinum Visa Card. I have noticed the last few days that it showed an available credit listing of nearly $11,500. I thought, "That has to be a mistake."

Nope. Got a letter today that our limit was raised to $12,500. I believe that nearly doubled the previous limit. We don't use the card much. We probably buy $300 in gas and maybe that much in groceries on the crd each month. My wife is always buying clothes for our daughter, but seldom do we run up to $1500. We almost always pay the entire balance each month, and never run a balance over one month without paying down to 0.

I NEED TO BUY SOMETHING!!!

I guess this proves the old adage that if you really need to borrow money, you can't, but if you can prove you don't need it, they will loan it to you.

In addition, we have a HELOC with about $20K left on the line. We did some renovations a few years back and took the HELOC. Our bank had a promotion at the time, and we got the loan at prime, which has turned out to be a very good deal. We pay steadily on the balance, and have gotten it mostly paid off without having to pay a lot of interest.

We don't need the credit now, and won't use it. It is nice to have that in reserve, though, if some disaster struck. I can see how some people could get in trouble like this. Luckily, my wife and I come from very frugal, country school-teacher/farmer backgrounds. Neither of us tend to throw money away on frivolities.

I didn't mean to sound like I'm bragging, just a commentary on how the banks try to get people in debt.

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Georgia On My Mind

Long ago the rich realized that slavery by chain and force would eventually result in rebellion. This led to what is know as financial enslavement and credit and interest are the primary tools of the new financial enslavement of mankind.

In my youth we had usury laws that prohibited high interest by law. Those laws have all been repealed at the behest of the money lenders. As you may recall from your bible it was the money lenders that Christ flogged from the temple.

Much of America is caught in a deadly enslavement snare by these lending companies, especially the credit card companies. It is nothing more than a legalized form of loan sharking. Credit and the interest and sometimes worse the penalties for being a day or two late eat up much of the working class income and for what. Much of it is spent on baubles and beads and worthless junk.

I have seen easy credit destroy many a family and keep them in perpetual poverty. Unfortunately a vast majority of Americans are too unsophisticated in the use of credit to escape the clutches of the money lenders.

It's only because they like you and want to show you how much CONfidence they have in you and your capability to repay them.

<<I NEED TO BUY SOMETHING!!!>>

Uh, its a SMITH AND WESSON forum. Need I say more?

Sounds like you can finally afford to buy some .22 LR......if you can find any!!

Pete

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Don't tread on me

I could go down to Bo Barrow's Gun Emporium tomorrow morning and walk out the door in less than thirty minutes with that Factory Engraved Single Action Army Colt.

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Georgia On My Mind

I recall when I was in grad school, 30+ years ago -- and things were so tight I passed up a bag of potato chips at 80 cents or so because I thought it was wasteful of my limited budget -- getting a Visa Card solicitation from some bank I had never heard of with a no-questions-asked credit limit of $2,500.

I thought, "These guys must be crazy!," as I tossed the letter into the trash...

Yeah I remember back several years ago when I bought my motor home there was a bus on the lot that was selling for 1.5 million dollars. I went inside and looked it over because I had never been in one worth that much money and it was a pretty thing but not that pretty.

I made the remark to the salesman that I would like to have something like that and he told me he would sell it to me if I really wanted it. I said I couldn't afford something like that and he told me my credit was good enough that he could sell it to me.

When I said I could drive it away on credit but how would I make the payments on it he simply smiled and replied that'll be your problem.

I am not trying to say that credit is a bad thing. It can be a very good thing, both for businesses and private individuals. I have learned this through experience.

Also, I m not one to blame the credit card companies for preying on poor, innocent people who can't control their own cravings and get in too deep. The phrase here is personal responsibility. I don't believe a credit card company has ever forced anyone to spend a dime.

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Georgia On My Mind

Credit is one of those things that is nice to have but you must be careful how you use it. Bit like owning a fast car. Mine will go to 170mph allegedly, but should I ever try to find out on the public road life will become difficult.

I'd rather be broke than owe the credit card companies.

I know what you mean by having it if you don't need it. I have never missed a loan payment or even made one late. I'm sure my credit is perfect or very close. My card limit is 22,500 and have no idea why they think I need that much. If I charge up to 3k I go into a cold sweat and pay it right down. They must hate me.

Redlevel, I think you knocked it right upside the head, "The phrase here is personal responsibility." Herein lies the driving force behind MOST of the problems America is experiencing currently. No one is responsible or held accountable for their actions . Always the fault of others,etc. The malcontent is the victim in modern society.

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Bill
Dis B. Leaf

Credit is one of those things that needs to be used wisely.

Used as the tool that it is it can make your life better in many ways.

Used improperly it can make your life very bad quickly...

We use credit every day at home and business. It provides many benefits from buyer protection and organized, simplified billing.

The end of the month we pay it all off.

Credit is not a reason for a shopping spree.

You must choose wisely...

People like to delude themselves that credit card debt is accrued only by idiots, fools, or the unwise.

I know by personal experience that is not the case.

My wife is a full time teacher, and she does not take home a living wage. If she did, she wouldn't qualify for student loan deferments, Medicaid, and even SNAP (commonly called food stamps.)

If a smart, college educated couple like us can't make ends meet when she has a full time job that requires a bachelor degree and license, necessities like gas and food end up on the credit card. And before someone nitpicks our budget believing us to just be uncareful, here are some quick facts: we have no cable/dish. We use tracfones--and not often. We have one car payment and it is less than our gas expenditure per month. We eat out maybe once a month, at places where the total bill for all of us is less than $30. We refinanced our mortgage and it is actually cheaper than renting in our area.

Sometimes, reasonable, educated, hard working people just can't make ends meet, even with full time work these days. A quick glance at historical wages and their downward trend when adjusted for inflation quickly reveals why. It is not because of "shopping sprees," I promise.

We were lucky enough, in our time of need, to have a Credit Union Credit Card with an interest rate that might be mistaken for a car interest rate, and I am very thankful for that. It still has a balance, but thankfully is going downward, and not upward, mostly due to some incredibly helpful government programs that have helped us pay some bills which allowed us to direct funds towards debt reduction.

It is easy to blame each other, but it is a lot harder to think critically about the system that fosters this growing economic inequality, where the poor are steadily getting poorer.

This statement is in no way meant to apply to ALL women but many for sure. I believe that some credit, credit cards in particular are designed to target certain people or groups of people. Women are one of these groups and my wife is no exception. Why does a person need to carry a card with 18% to 21% interest for every clothing or shoe store you can think of? The convenience comes at a price some people do not calculate in their head because they choose not to.
I can think of many retailers that would give me their credit for the asking but choose not to. I prefer to buy things with money I already have. I have one card so control is easy.

Credit cards are the number one reason for bankruptcy in the U.S. There are too many people that do not have the common sense to "shop wisely", and it is not unheard of for a lot of people to have over $20,000 on credit cards, and paying the minimum payment. I was in the loan business many years ago, back when credit cards weren't as well used (early 60's). Even then people wouldn't know how much they owed, only that the monthly payment was $XXX.

It is nearly impossible to exist today without credit cards, you literally can't travel, rent a car, book a hotel, etc without one. The use of credit and financial well being is a subject that needs to be taught in school, at the Middle school and/or high school level.

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H Richard
SWCA1967 SWHF244

Look at it this way.. Your debt to credit ratio just went DOWN.. and that's a good thing.. and I'll bet your " Credit Score "will go up also a good thing.. Now if you can maintain your spending habits .. all will be well.. particularly when it comes time to finance a home or car.. something worthwhile.. that MUST be done..

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SWCA #2306
DAV in honor of POP

Just out of curiosity why would you want to check your bank status 2 or 3 times a day? Just because you can? Because you have the technology and a lot of spare time?

It's really none of my business, so feel free to ignore my post. I'm really just trying to figure out what everybody is doing all the time with their mobile devices, since most people I see driving, walking, or sitting somewhere seems to be glued to them.

The credit card company would like for you to be $12000 in debt. That way a lot of your income would be sent to them each month for interest, more of your income if you are trying to pay the loan off. Most people can't, or at least find it difficult to pay cards off and often the balance climbs instead of going down.

Also check the percentage rate on your card. If you find it acceptable now, after you rack up some debt they will start raising the rate.

Credit cards are a racket. Save the money that you would be paying the credit card company and buy what you want outright.

You mean WAIT for stuff?! The instant gratification ninjas will be calling to wash your mouth out talking like that.

Never understood the term "Credit Card". It should be an as yet "Unaquired DEBT Card".
f.t.

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South Carolina-God's country

I will most likely pass on before my wife. When she senses that her time is about to come I hope she takes our $20.000 limit and has an absolute ball with it.

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Regards, Ron
USASA 1965/69

That won't work Ron if you have kids and property.

At one time we had his/her American Express cards with a combined limit approaching $60K (hers had a higher limit). We now have her AE that we pay for to get more air miles, dropped the limit to $6K, and the balance is paid off every month. Mrs Engineer works 3 blocks from a discount WalMart gas station, so we both have a WalMart Discover card that discouts 7¢ to 15¢ per gallon every time we get gas.

GM Master card gave me a $2,500 down payment (5% rebate on every purchase) on my new Colorado pickup. With careful planning and pay the bill in full every month, credit cards can help you. Yesteday at WalMart the woman in front of me left $175 in groceries sitting because 5 different credit cards were declined .

Two or 3 credit card offers are shredded every week.

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S&WHF 366

PM me that card number, exp date, and whatever they call the code on the back, an' I'll show you real quick!

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Regards,
Lee Jarrett

What happened to al the 22LR?

Bill