On Wed, 06 Aug 2008 20:25:29 -0300, Nicolas Alvarez wrote:

> Jim Henderson wrote:
>> One of the nastier things they have started doing is sending out these
>> "convenience cheques" with low interest rates.  You have to read the
>> fine print to see what the % is they're charging for the use of the
>> cheque, but even more insidious is that on some (Discover has done
>> this) they require you use the card 2 times a month to keep the lower
>> rate, but the payments you make go against the lowest interest rate
>> first.
> 
> There's an ad around here for a *zero interest* loan. Fine print says
> there's a 15% "administrative fee".

Yeah, I love how they can do that...

Jim

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Jim Henderson wrote:
> I don't want to owe that 
> kind of money on an unsecured loan of any kind.  I'd much rather have 
> things paid off (that's a really good feeling to have).

That's good.  But better an unsecured loan than a secured loan! :-)

-- 
Darren New / San Diego, CA, USA (PST)
  Ever notice how people in a zombie movie never already know how to
  kill zombies? Ask 100 random people in America how to kill someone
  who has reanimated from the dead in a secret viral weapons lab,
  and how many do you think already know you need a head-shot?

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On Thu, 07 Aug 2008 14:28:52 +0100, Phil Cook wrote:

>>>  Same thing with the majority of utility bills - the invoice comes
>>> through  and the payment drawn a few days later. In some case they'll
>>> charge you an  'admin' fee for not doing it this way.
>>>
>> Yeah, I might try and get organized enough to try something like that.
>> At least for bills.  I didn't know you could do it for credit card.
> 
> Well you can in the UK

You can with some cards in the US as well.  We do autopay for nearly 
everything (but we also look at the bills closely, too) - I think one of 
our basic services (water, electric, something like that) doesn't have 
the option, and Discover doesn't do that, but they do let you pay 
online.  So I just go and submit next month's payment when the previous 
month's clears.

Got hung up *once* with this because the payment I put in ended up being 
less than the minimum (had to get the brakes done on the car - and we 
used the wrong card) and I got a call from their collections department 
the *day* after the bill was due.  We got them to reverse the late fee 
and reinstate the 0% transfer balance, but it was really surprising they 
turned it over to collections so quickly.  Discover Financial apparently 
is struggling.

(Of course you wouldn't know anything about them in the UK, since 
virtually nobody accepts them over there)

Jim

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On Thu, 07 Aug 2008 09:49:24 -0700, Darren New wrote:

> Jim Henderson wrote:
>> I don't want to owe that
>> kind of money on an unsecured loan of any kind.  I'd much rather have
>> things paid off (that's a really good feeling to have).
> 
> That's good.  But better an unsecured loan than a secured loan! :-)

Well, from a credit standpoint, a secured loan like an equity line (where 
the "security" is the property) makes good sense.  I have heard some 
people use the equity in their homes to make money (by investing it), but 
that seems a little risky to me.  But for doing things like putting a new 
roof on the house (which we had to do - to the tune of about $14,000 this 
year), that is a good way to cover a cost like that.

But using that money appropriately is the key - using it to enhance the 
value of the property through improvements seems to be the best route to 
go.

That's what I meant by "secured" - which I know is different than other 
types of "secured" credit cards (where you pay money as a security 
deposit and then your limit is set to what you put down as a deposit).

Jim

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"Mueen Nawaz" <m.n### [at] ieeeorg> wrote in message 
news:489b20cd$1@news.povray.org...

> I now try to use the CC for online-only transactions. There was a long 
> while where I just kept it at home. I try to pay whatever I can in cash 
> now. Not to save money, but I got wary of various companies knowing my 
> shopping habits.


 That's exactly what I do. I hope they never get rid of cash, to me, it's 
the most important thing in life, (as far as paying something goes). I 
wouldn't feel safe if there wasn't any hard cash to use.

> Paranoia, as Sabrina said.

    Yes, that's it.

       ~Steve~


>
> -- 
> The severity of the itch is proportional to the reach.
>
>
>                     /\  /\               /\  /
>                    /  \/  \ u e e n     /  \/  a w a z
>                        >>>>>>mue### [at] nawazorg<<<<<<
>                                    anl
>

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"Jim Henderson" <nos### [at] nospamcom> wrote in message 
news:489b2bbd$1@news.povray.org...
> On Thu, 07 Aug 2008 09:49:24 -0700, Darren New wrote:

> But using that money appropriately is the key - using it to enhance the
> value of the property through improvements seems to be the best route to
> go.

    I think that has 'always' been the way to go. I know if I want, (and 
NEED), a new roof for my place, then your mother bank is the person to ask. 
I think you'll probably always get it. (Well, as long as you've never been a 
defaulter, that is).


       ~Steve~



> Jim

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On Thu, 07 Aug 2008 18:43:01 +0100, St. wrote:

> "Jim Henderson" <nos### [at] nospamcom> wrote in message
> news:489b2bbd$1@news.povray.org...
>> On Thu, 07 Aug 2008 09:49:24 -0700, Darren New wrote:
> 
>> But using that money appropriately is the key - using it to enhance the
>> value of the property through improvements seems to be the best route
>> to go.
> 
>     I think that has 'always' been the way to go. I know if I want, (and
> NEED), a new roof for my place, then your mother bank is the person to
> ask. I think you'll probably always get it. (Well, as long as you've
> never been a defaulter, that is).

Yep - as long as you've got good credit (both in general and with the 
bank), that goes a long ways.

Jim

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On Tue, 05 Aug 2008 18:14:54 -0700, Darren New <dne### [at] sanrrcom> wrote:

>  and how many do you think already know you need a head-shot?

Oh! Thanks, next time I'm in the Caribbean I'll remember that :)
I hope.
-- 

Regards
     Stephen

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Jim Henderson wrote:
> On Thu, 07 Aug 2008 09:49:24 -0700, Darren New wrote:
> 
>> Jim Henderson wrote:
>>> I don't want to owe that
>>> kind of money on an unsecured loan of any kind.  I'd much rather have
>>> things paid off (that's a really good feeling to have).
>> That's good.  But better an unsecured loan than a secured loan! :-)
> 
> Well, from a credit standpoint, a secured loan like an equity line (where 
> the "security" is the property) makes good sense.

Sure. I just meant that all else being equal, having the person you owe 
money to being unable to do something about it if you don't pay them 
back is a good thing. :-)

Of course, it's easier to get a lower rate and more money on a secured 
loan.

> I have heard some 
> people use the equity in their homes to make money (by investing it), but 
> that seems a little risky to me.  

Everything that makes you money is risky. It's a matter of whether the 
payment is worth the risk.

> But using that money appropriately is the key - using it to enhance the 
> value of the property through improvements seems to be the best route to 
> go.

It certainly doesn't hurt.  Even better is saving up, *earning* 
interest, *then* putting the roof on, if you can wait.

> types of "secured" credit cards (where you pay money as a security 
> deposit and then your limit is set to what you put down as a deposit).

The quotes shouldn't be around "secured" but around "credit" there. It 
isn't a credit card if you're not borrowing the money.

-- 
Darren New / San Diego, CA, USA (PST)
  Ever notice how people in a zombie movie never already know how to
  kill zombies? Ask 100 random people in America how to kill someone
  who has reanimated from the dead in a secret viral weapons lab,
  and how many do you think already know you need a head-shot?

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St. wrote:
>  That's exactly what I do. I hope they never get rid of cash,

They can't. There's huge portions of the economy that are actually 
black-market. :-)

Alternately, they already have. There's no cash left. All that's left is 
debt and federal reserve notes.

-- 
Darren New / San Diego, CA, USA (PST)
  Ever notice how people in a zombie movie never already know how to
  kill zombies? Ask 100 random people in America how to kill someone
  who has reanimated from the dead in a secret viral weapons lab,
  and how many do you think already know you need a head-shot?

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