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Credit Cards
2009-08-12, 2:14 PM #81
Yes, Free, your inability to communicate adequately is what determines ones level of knowledge on any given matter.

[Wait, why am I still arguing with this boy]
2009-08-12, 2:24 PM #82
Originally posted by Freelancer:
Case in point:



:P

It is clear you don't know how deep the rabbit hole goes.


Really I was talking specifically about between the last comma and period. Like I said, it's probably semantics so I'm not really all wound around the axle about it.
"I would rather claim to be an uneducated man than be mal-educated and claim to be otherwise." - Wookie 03:16

2009-08-12, 7:04 PM #83
Originally posted by Jep:
I still believe that you're more likely to have your request denied, unless you are very wealthy. Of course, if they see 20-30k sitting in your bank account waving up at them, they'll likely fork the cash over.

Through such investigation, they are more likely to find one minuscule slip up that seals your fate. However, if what you state is indeed a possibility, that is an excellent option if you can maintain a flawless financial record.


When I got my mortgage I had 2 retail store loans paid off and 4 small personal loans (and by small, I mean from $200-$1000) from my bank and other lenders paid off. Took all of 3 years to build my credit from 0 to 740. Absolutely no credit card to my name. It really wasn't difficult at all. Not only did the mortgage company loan me the money for the house, but for the down payment too. In fact, I walked away from the lawyers office with a check in my hand. Two weeks later they realized that the check they gave me wasn't enough and sent me another small check to cover the difference.

Quote:
Still, in an ideal world buying a car with cash is by far the better option.
I have to disagree. It really depends on your particular financial situation and your expectation for the future. After all, the "time value of money" door swings both ways. This is especially true with really large purchases where you're paying over a long or very long term. My advice to people with regards to loans is to always stretch the loan out to the longest term possible and make at least one extra 'principle' payment a year. In a 30 year mortgage, you can pay it off in 20 years by following that strategy.

I could go on and on about this subject, but I'll leave it at that.

PS: Jep, I know that at the end of the day I don't have the self control to keep from flashing out the card for something I would really like to have. I see the realization of this human failing of mine as a strength, not a weakness. Living without the card forces me to live the modest life that I can afford virtually debt free but still have at least a small safety net.
2009-08-12, 9:55 PM #84
Well, im glad your using this thread to it's full potential.
2009-08-13, 4:02 AM #85
Originally posted by Alco:
PS: Jep, I know that at the end of the day I don't have the self control to keep from flashing out the card for something I would really like to have. I see the realization of this human failing of mine as a strength, not a weakness. Living without the card forces me to live the modest life that I can afford virtually debt free but still have at least a small safety net.


As much as I keep ragging on about discipline, I'm definately not the best model of self-discipline. I'm one of those poor suckers who did flash out that shiny card once too often, accumulated a nice big sum on it and struggled to pay it off in a timely manner. I was paying 30some dollar (CAN) in interest monthly at one point (when I was in the 2000$ range). Its because I know the dreadful feeling of being up to the neck with a high-interest card :P
Was cheated out of lions by happydud
Was cheated out of marriage by sugarless
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