Sunday, December 30, 2007

Why you should not ever pay more then 9% credit card loan interest

There is no reason to pay more then 9% interest on any credit card loan,IF you have a decent credit score.

Lets say you have 5 credit cards all with 2500 buck balances.

You should be able to get 2 more easyily, that are empty, if you have made the practice of paying your bill so the payment arrives 5 days before the due date.

Now lets say you have 1 amex 2 discover cards and 2 bank of america cards.

YOU will need a crap citibank and a crap chase manhattan bank and a crap capital one card.

I call these cards crap,because they will stab you in the heart with 30% interest rates,even if you are only 1 day late on a payment due date.

AND THEIR CUSTOMER SERVICE PEOPLE WILL CLEARLY STATE,

they have the right to do this and give you the belief they dont care 1 bit about you.

So now that you are warned, AS I AM SPEAKING FROM PERSONAL EXPERIENCE ON ALL 3 COMPANIES.

2 directly did this to me and the third to my friend and I was the person who fixed their wagon.

I paid them off and stuck them into the use when only necessary catagory.

That catagory means you use them for 4% money or 0% money or leave em to rot in your sock drawer.

Now the amex is 14% so you send that payment first from say chase. now amex is empty.

The reason you want it empty is it can pay off any other card you have.

You cant pay a discover card off with another discover card. the same is true of citibank,bank of america or chase manhatten.

If you follow this procedure, you will have single digit interest rates on all your cards in 3 months or less and 0% on the newer cards.

Multiple cards also allow you to negotiate rates, you simply tell the supervisor that they are competing against bank of america or chase.

Why should you use them if they won't be competitive.

Use this ploy to get longer balance transfer time periods or better rates , or removal of balance transfer fees.

I have done all of these things in the last 15 years.

Remember, a credit card company makes no profit if its card is in your sock drawer.

good luck

Getting your first credit card, loan

YES a credit card is a loan, NEVER FORGET THIS FACT.

If you are lucky enough to afford college. You can apply for a college credit card program.

I recomend discover card or bank of america.

STAY AWAY FROM CHASE AND CITIBANK,. Avoid them like the plague, unless you like being hit with 30% interest rates because of a single forgivable mistake.

Both of these companies did this exact process to me. BUT all they got was their accounts cut up and paid off within 15 days and some major BBB complaints.

I do believe in putting their crud on FRONT STREET so all can see how crooked they are.

IF you dont go to college, you can try a secured card from bank of america as discover does not have one.

You could go to wally mart

wal mart has a discover card and their wal mart card

You apply for the wal mart card and get it.

NOW YOU USE IT IN A MANNER THAT DOES NOT COST YOU MONEY.

If you have a super wal mart in your town,

Just tell moms you will fly for groceries and give you the cash.

put the cash in your bank and pay the bill with your card

accrue the bank interest till the bill comes and pay the bill in full when it comes.

Do this for 6 months to a year

and you should be able get approved for a wal mart discover card.

You can also do this with a gasoline credit card but it takes longer.

My Views On the Republican party

The republican party, which I will refer to as repubs from now on, is a group of self centered people who dont care about the common man.

Ann coulter is the perfect example of this.

Her book about liberals shows how distinctly narrow minded and selfish she truely is.

Lets talk about the trickle down lie of economics that they push.

We have had 2 different sets of repubs in office for at least 2 terms in the last 25 years and yet both times the same trickle down broken system was used, and lead to economic disaster.

The basics of trickle down is a tax cut that is funded in part by cutting state funding.

Then they get the fed to lower interest rates to, so-called, stimulate the economy.

The states say OH CRAP and immediately raise property taxes to offset the revenue loss.

This action artifically increases property prices.

COMBINE this with low interest rates and you start a real estate boom bubble.

In 1981 reagen got in, and by 1986 the savings and loans were failing due to forclosed bad variable rate loans. This was really brought into front page news when REPUB Charlie Keeting got caught cheating old folks out of thier money and his lincoln saving and loan empire went down the toilet.

If Charlie Keating sounds familiar, its because he was the Ohio loser that went after Larry flynt.

Yes repubs hate liberals who make honest money off a sex magazine, but they have no problem defrauding old folks out of their retirement funds.

By 1988-1990 the bubble had burst and california real estate was losing up to half its bubble value.

THIS is a fact I know due to working in the real estate field in 1988 ,
and switched to wiring homes in 1989 after the real estate boom started going south. I got out of the real estate field quick.

I then watched the 600k homes, I was wiring, in NORTH RESEDA,up on the hill, get forclosed on and go for 390-450k from the banks.

Hey look under baby bush we have the same exact thing 6 years after he started his tax cuts

Feb 2007 the sub prime market takes a dump as the rising interest rates make the bubble priced homes unsaleable.

Why is this you ask? Why its because all the forclosed props from 2004 and 2005 are glutting the market.

The reason for the glut is banks cant hold forclosed properties for more then 3 years.

So its 20 years later 1987-2007 and we have the exact same recession direction caused by the trickle down lie.

NOW lets talk about the war lies.

BABY BUSH wont have a draft because the new draft law make college deferment not available.

Whoops we cant have rich kids getting killed in the oil war.

HOW could the future DICKY CHENEYS dodge the draft 5 times like DICKY CHENEY did during the Vietnam era?

OR worse how could the Baby Bushs hide in the national guard. Since a requirement to join the national guard now, IS YOU MUST BE WILLING TO GO TO IRAQNAM.

REPUBS CANT HAVE THEIR RICH PUBETTS GO GET KILLED or Wounded IN AN oil war.

Especially since Baby Bush cut V.A. funding ,to give another tax cut ,so the wounded cant get the real care they require.

Or dont you remember the mission accomplished speech where he thanked the troops for being ok with having their VA benefits to be cut. So the rich could have another TAX BREAK.

Only poor kids are suppose to be there., AGAIN AND AGAIN AND AGAIN, due to the new back door draft of extending tours of duty.

FINALLY why does Baby Bush really not want the troops to come home.

THATS a simple answer, he remembers 1991 after gulf war ended. The troops came home to no jobs uner his daddy.

HE remembers how his daddy got the boot, and he does not want his fake 4.6% unemployment number going to double digits.

THIS is exactly what will happen if the troops come home to find their jobs exported/outsourced to india or mexico.

YOU see the war job protection provision does not apply if a job has been moved and still exists
in another location/country.

THAT loophole is like when a michigan company moves to texas. If you dont want to move,you lose,period end of statement.

FURTHER PROOF THAT REPUB LEADERS DONT GIVE A CRAP about the common man.

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