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Author Topic: credit card mole  (Read 14790 times)

merlin419

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Re: credit card mole
« Reply #15 on: September 23, 2005, 10:55:52 pm »

Ok this may be off subject but it does concern cc's. I recently was shot down for a job because I could not be "Bonded" based on my "credit report". Mainly because they claimed I had given several false addresses! My last three addresses did not show up and they claim I still live in my old house. I have never applied for credit since I lived there so therefore I have not lived where I say and can prove where I have lived at.  :angry: I was rejected because I had gave them false information on y application! :angry:

So one of the morals I have learned that if you don't apply for the damn things you therefore don't exist there in their almighty opinion.

Sorry if this is off subject but it sure pissed me off. The only good that came out was it did identify someone whom had been using my number as well.  :huh:
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Dave Polaschek

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Re: credit card mole
« Reply #16 on: September 23, 2005, 11:30:03 pm »

There was a time I would have agreed with you completely. There was a time I was so proud to have credit cards.

I'm not proud to have credit cards. I consider them a useful tool. But I'm glad we've got some common ground, of sorts.

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This is just not how honest business people treat honest and valued customers.

Well, I guess maybe I'm more cynical. I don't expect honest business people. Caveat emptor is right on the top of my list. And I'm almost certainly on one end or another of the bell curve, but I actually read the 23 pages of fine print, with circles and arrows on the back of each one, explaining how it's to be used against me in a court of law.

Every Damned Month.

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And if you object to MBNA for seducing the poor risks ... well, the credit card industry as a whole (and now the mortgage-lending industry, as well) has been doing that for some time now.

Actually, it's not so much that I object to them... But I have been burned by them. If I were to meet the CEO of MBNA in person, my most likely reaction would be to thank him for a valuable lesson in capitalism.


As a purely academic exercise, I wonder why, if one is expecing TEOTWAWKI, or SHTF, (or the collapse of the dollar, and/or fiat-money, or whatever sort of collapse is one's favorite scenario) one hasn't already maximized ones credit limit, and charged up every bit of that limit. I'm not speaking about any specific person here, but talking theoretically. If one expects the world to fall apart, why not seize the opportunity to have laid in as many supplies on someone else's dime as possible?

I think there are very valid reasons why one might want to play the credit game. And I believe very strongly in playing every game I participate in as well as I can. I understand people who opt out entirely, too. I'm just not sure that's the best strategy available.
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Roy J. Tellason

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Re: credit card mole
« Reply #17 on: September 23, 2005, 11:52:14 pm »

Ok this may be off subject but it does concern cc's. I recently was shot down for a job because I could not be "Bonded" based on my "credit report". Mainly because they claimed I had given several false addresses! My last three addresses did not show up and they claim I still live in my old house. I have never applied for credit since I lived there so therefore I have not lived where I say and can prove where I have lived at.  :angry: I was rejected because I had gave them false information on y application! :angry:

So one of the morals I have learned that if you don't apply for the damn things you therefore don't exist there in their almighty opinion.

Sorry if this is off subject but it sure pissed me off. The only good that came out was it did identify someone whom had been using my number as well.  :huh:

I dunno why it is,  but it seems that at least some number of places around here are doing _credit checks_ on people that they're hiring...

I don't know how widespread this practice is,  or how pervasive in some areas.

I also don't follow the logic of turning down a person because they may have been a little slow in paying bills -- I mean,  what the heck else would I want the money for?  Oh,  maybe that's it,  maybe they figure I'm a druggie or a drunk or something.

Damfino.

I do know that I need to get something going that doesn't involved the traditional "job" situation,  which around here ain't paying enough for one income to support a not-particularly-extravagant household.  Hell,  I'm already near the bottom of the scale as far as rent and vehicles go,  then there's the utility bills and such.  I just don't understand how some people do it -- both managing to live like they do (and pay two or three times the rent I'm paying or the equivalent in a house payment),  and how they put up with all the BS...
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velojym

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Re: credit card mole
« Reply #18 on: September 24, 2005, 03:23:29 am »

Good points on both sides here, and I had a card once with a rate in the low 20s. Why? First card, didn't have a credit history, really. I eventually figured out that I was allowing myself to be ripped off, and a few years later I managed to pay off nearly everything (still have to research and clear up some others due to my ex wife's spendy ways), and I'll not make that mistake again. They are out there, and the best way to avoid problems is to educate yourselves. In a free society people must learn from their mistakes as I did (or, more preferably, from OTHER people's mistakes), or they'll be taken every time.
I don't blame the cc company. They did what they do, just like shady salespeople and politicians. At least with the card, I have a little something to show for it. The politicians won't even give me the time of day while they drive by in the shiny new limo I paid for.
Credit ratings... bah. I'm less of a risk now without the redheaded prairie harpy, but they don't care. I say 'screw 'em. As for jobs being affected, I don't know. I'd rather be judged on my actual merits rather than hers. I've held two jobs which claim to value good credit since then, and either they really needed people, or credit wasn't quite the issue they originally made it out to be.
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Evil Twin

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Re: credit card mole
« Reply #19 on: September 24, 2005, 09:58:51 am »

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If one expects the world to fall apart, why not seize the opportunity to have laid in as many supplies on someone else's dime as possible?

There are so many things wrong with that statement I don't know where to begin. 

Theft by credit card is still theft.  I own a small business, and operate it in an honest and forthright fashion.  I extend credit to other businesses and in the past 9 years I have had to deal with 3 bankruptcies.  In every case, the company maxed out their credit with us, then filed BK and I got screwed out of thousands of dollars.  That, my friend, is only slightly different than pointing a gun to my head and stealing money out of my pocket.  Theft is theft.  Being an outlaw doesn't mean you have to be a thief.

As to the logic of getting a free ride on someone else’s dime, why don't you make use of government in every way you can if you are looking for  "free" goods and services?  Heck, let’s just lie around and let the .gov take care of us?  Welfare?  Sure!  Food stamps?  Ok!   Public housing?  Why not?  Universal health coverage?  Booyah!   Making use of .gov services any more than you are forced to makes you an accomplice to theft because taxes=theft.
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Dave Polaschek

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Re: credit card mole
« Reply #20 on: September 24, 2005, 12:19:14 pm »

There are so many things wrong with that statement I don't know where to begin. 

Theft by credit card is still theft.

I think you need to step back from your bad experiences for a minute. I was not advocating theft, but rather using (freely offered) services when it's to your advantage.

Say you're convinced that gold is going to increase in value by 50% in the next three years (I'm dubious, but don't rule it out). Does it not make sense to buy gold now, on a 4.9% fixed debt (home equity loans can still be had for around that), with plans to sell off enough gold to pay back the debt later?

Or say you're convinced the FRNs are going to suffer double-digit inflation again. Why on earth would you avoid stocking up on things that will retain their value so you can pay for them later with cheaper money, especially if someone is offering you credit at single-digit rates?

I may not have made it clear in my previous post, but I fully believe in paying back my debts.

I see credit as yet another tool in my preparedness and survival kits. And just as people who don't have a flashlight around home are less prepared than they could be, I think anyone who flatly rules out using credit as a tool is leaving something out of the equation.

If for some reason I find myself heading for the hills, I'm going to figure that a credit card with room to spare is a valuable tool. It'll allow me to buy gasoline for the trip, hotel rooms en route, and other necessities with money that I can pay back once the situation has stabilized. The opportunity cost is much lower than the interest charged by the credit card company, especially since it allows me to conserve cash and supplies early on.

To offer a more current example, having credit meant that last night, when I noticed that most gas stations around here had added almost forty cents to the cost of a gallon of gasoline, I could spend my time finding a station that hadn't yet raised its prices and topping off the tank. I wasn't stealing that gas, but using someone else's money to buy it at $2.49 a gallon, rather than making a trip home or to the bank first and then paying $2.99/gallon. I figure I saved about ten dollars, and will pay at most a buck in interest.

Yes, it would have been better for me to have extra cash in my pocket. But that has the risk of carrying extra cash.

The point I'm trying to beat into the ground here is that credit is Just Another Tool in today's society. I think it's useful enough that I'll keep it in my toolkit, thank you very much.
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DTOM

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Re: credit card mole
« Reply #21 on: September 24, 2005, 12:32:35 pm »

Good point about credit cards in the toolkit. I have one for that reason alone in my safe with $5000 on it that I don't use unless there is a SHTF type situation. That way I can conserve my cash. I do have alost a thousand in FRNs and plenty of junk silver and gold. Plus, lots of ammo which can be used as money to buy things I would need.
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Evil Twin

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Re: credit card mole
« Reply #22 on: September 24, 2005, 12:33:50 pm »

Quote
but I fully believe in paying back my debts.

My apologies, I misread what you were saying to mean that you would run up the balance, then default. 
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Dave Polaschek

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Re: credit card mole
« Reply #23 on: September 24, 2005, 12:43:32 pm »

Quote
but I fully believe in paying back my debts.

My apologies, I misread what you were saying to mean that you would run up the balance, then default. 

Well, I won't rule that out, any more than I would rule out eating roadkill or voting for a Clinton, but I think it's highly unlikely.

But there are some things a guy just doesn't like to think too hard about.
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canaan

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Re: credit card mole
« Reply #24 on: September 24, 2005, 12:47:29 pm »

Yes, canaan. I think you can call yourself an Official Mole.


P.S. Got a credit card question for you. Are you able to get people below 10 percent even on the "cash advance" portion of their credit card balances? So-called cash advance, with its super-high rates, seems to be the real killer for a lot of people -- especially since so many cc companies consider the most amazing array of stuff to be cash advances, these days. One friend of mine had to put a thousand dollar car repair on his credit card -- and was horrified to find himself paying 19.99 percent because it was a "cash advance." Needless to say, he never saw a dime of the alleged "cash."

Reply..

Good news, bad news...  All hardship programs do require the account be closed. The company's logic is why give away low interest to someone who's going to charge more on the account.  But the good news is that YES, interest rates on ALL of the balances can be dropped.... In MANY cases ( about 3 to 4 per day for me personally)  I am able to reduce the interest rate to 2.75 % for the LIFE OF THE LOAN.....  no more fees either....

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canaan

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Re: credit card mole
« Reply #25 on: September 24, 2005, 01:06:00 pm »

*** bowing head in shame***  I USED to be an IRS agent (but I'm MUCH better now)...  but this is a topic for another discussion...

as far as balance transfers,  YES, they are considered cash when going from card to card in many cases.  Additionally if you have a balance transfer and then make purchases.... your monthly payments go to the PURCHASES and those finance charges before going to the balance transfer...  The house wins again...
~~
actually MBNA tries to go for the HIGH income customer as a rule. During the last 25 years they have purchased many many 'sub prime lending' portfolios from different banks.  MBNA bought 60 BILLION dollars in credit cards from PNC a number of years ago as an example...some of  these are the poor risks that you are in reference to...

~~~

above every doorway (every single one) at every building of MBNA, there's a sign, it says   "think of yourself as a customer" this was for the employees to 'do the right thing' for the customer.

The concept is good, and for quite some time, it was actually adhered to.  Times change.

~~~

Credit cards are NOT evil.  Neither is my Glock 21.  What can be done to people with either tool can be either good or evil.

Credit card debt is very much the mirror image of the Fed's deficit spending.


We're talking about "Wimpy economics" here.... "I'd gladly pay you tomorrow for a hamburger today"
~~~

MERLIN.... contact the credit reporting agencies and CHALLENGE the reports...

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Many companies use credit reports for hiring purposes.


further the respondeth sayeth naught
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rayray

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Re: credit card mole
« Reply #26 on: September 24, 2005, 08:15:14 pm »

Best bet of all?  Stay debt free and don't let the credit companies screw you for any interest.  If you have to, pay on time or fight hard talking to upper management who will ultimately screw you as well.  What is a credit card anyway if you can't pay the balance?  Might just as well have a debit card from your bank, don't you all think?  A mole in a CC company can provide information for those already up to their necks in debt and need a decent way out.  They cannot erase your debt, unless you have the best mole who won't post on any board about what they can and cannot do for you.  Tricks?  Keep calling, pay something, negotiate with your company, or say screw them and don't pay if you have a report that doesn't represent your address and phone number.  It's not a criminal act to not pay a cc company that's why you need to think about your credit report and never, ever call those toll free numbers.  It's about your credit report here.  If you can pay a little, pay it.  If you're bugging out, screw em, in my opinion only.  I say that because, why did you get the credit card in the first place when you could have just as easily obtained a debit card or a bank account.  Live with cash, use you cash, buy valuable things with it and live like a rich individual down the road- What do you think?
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madmoon

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Re: credit card mole
« Reply #27 on: September 25, 2005, 07:18:40 am »


P.S. Got a credit card question for you. Are you able to get people below 10 percent even on the "cash advance" portion of their credit card balances? So-called cash advance, with its super-high rates, seems to be the real killer for a lot of people -- especially since so many cc companies consider the most amazing array of stuff to be cash advances, these days. One friend of mine had to put a thousand dollar car repair on his credit card -- and was horrified to find himself paying 19.99 percent because it was a "cash advance." Needless to say, he never saw a dime of the alleged "cash."

It could be the type of terminal the repair place has.  The type inside banks are "cash advance only".  It could be that when the garage got set up they (the merchant services the garage uses) either accidentally used the wrong terminal or it may be cheaper to run transactions as cash advances.  The difference between the fee for a purchase is a lot more than a debit card transaction where you use your PIN.  Something along the line of 1.50 for purchases and .25 for debits.  The merchant usually "eats" these fees in the hope to recover by the customer being able to buy more.  If your friend was of a mind, he could make a case for the repair being a purchase and force his cc company to move that amount over to the purchases portion of his bill.  I never do advances.... the fees just aren't worth it. 

madmoon

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Robert Hedrock

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Re: credit card mole
« Reply #28 on: September 30, 2005, 07:19:48 pm »

I know that they're not "credit cards" in the "lend you money" sense, but certain Latvian and other banks will issue you with anonymized Maestro cards, which don't have your name on.  Slipping over the border into Canada or Mexico might be a good idea when you order one.  Then, you have plastic which works on over 400 000 (?) ATMs all over the world.  You pay cash into the a/c at any bank.   Hmmmm....


RH
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hoggie

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Re: credit card mole
« Reply #29 on: July 18, 2006, 08:35:33 am »

hi folks

sorry to re-open this thread if it bores anyone.  I am in trouble with huge (for me) credit debt, and am on the verge of having to default because the payments are now leaving me with virtually no cash left for little treats like food!!  I was wondering if anyone has any advice to offer about approaching the credit card company with this one.  I live in the UK. 

Before everyone jumps on my back about how stupid it is - I know!!  I'm not proud of my problem, but I do need help if anyone has any to offer.

Thanks in advance for any suggestions

hoggie
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