Snake Posted November 16, 2022 Share Posted November 16, 2022 We have the same credit union the wife joined in the 80s.... 1 Quote Link to comment Share on other sites More sharing options...
snoughnut Posted November 16, 2022 Share Posted November 16, 2022 1 minute ago, DriftBusta said: I am told that banks and the insurance companies have much stronger balance sheets and reserve requirements now, so we don't ever have a repeat of 2008. Just the same, lets just watch to see what happens with this FTX shit show. The D party has their fingerprints all over it. I smell another bailout. I don't trust banking lobbyists and politicians, they're always trying to buck regulation so they can feed their own greed. The Great Depression was caused by banking issues. We may not see a 2008 scenario any time soon but to say it will never be repeated at some point? I'm going with no. Every recession/ depression is always caused by white collar fuckery. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted November 16, 2022 Platinum Contributing Member Share Posted November 16, 2022 1 minute ago, snoughnut said: I don't trust banking lobbyists and politicians, they're always trying to buck regulation so they can feed their own greed. The Great Depression was caused by banking issues. We may not see a 2008 scenario any time soon but to say it will never be repeated at some point? I'm going with no. Every recession/ depression is always caused by white collar fuckery. At least the S&L scandal some went to prison. 08, walk away with money. Quote Link to comment Share on other sites More sharing options...
Gold Member 800renegaderider Posted November 16, 2022 Gold Member Share Posted November 16, 2022 9 minutes ago, snoughnut said: I agree with everything you just said but flip the coin. When these intelligent people in the banking industry fuck up like they did leading up to 2008 and they get rewarded with a bail out, it's criminal. "We can fuck you but we can't allow ourselves to be fucked". That should have never happened the bail out. On the flip side I’m glad it did or I would have never gotten a smoking deal on my first house in 09 😂. 4 minutes ago, steve from amherst said: I went to a voke hs. How to start your own buss was a required class. Personal financial managment wasnt even offered. I don’t remember them teaching us a damn thing about finances in school but to be fair I didn’t pay much attention in school either 🤷♂️. Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted November 16, 2022 Author Share Posted November 16, 2022 when I was a kid... personal responsibility Quote Link to comment Share on other sites More sharing options...
smokin george Posted November 16, 2022 Share Posted November 16, 2022 We only have a credit card each that we use for everything and get a nice chunk of change back thru Costco. We pay it off every month and I would call it use of ease vs credit card debt. Quote Link to comment Share on other sites More sharing options...
Mag6240 Posted November 16, 2022 Share Posted November 16, 2022 44 minutes ago, Crnr2Crnr said: when I was a kid... personal responsibility What is that? So many don't have it, AT ALL. 1 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted November 16, 2022 Share Posted November 16, 2022 I still think a hundred bucks is a lot of money. Quote Link to comment Share on other sites More sharing options...
teamgreen02 Posted November 16, 2022 Share Posted November 16, 2022 3 hours ago, Crnr2Crnr said: not at our house but https://www.cnbc.com/2022/11/15/household-debt-soars-at-fastest-pace-in-15-years-as-credit-card-use-surges-fed-report-says.html Not our house either. You wouldn't believe how much of a hassle dealers make buying a car in cash. Who's your lender? What's your credit score? We will take $800 off if you finance with us and make 6 payments. Don't you value your cash? I mailed the check a week and a half ago and they still haven't deposited it. I'm fully expecting a hard sell on financing when I go back to pick it up this week once the accessories get here. 1 Quote Link to comment Share on other sites More sharing options...
teamgreen02 Posted November 16, 2022 Share Posted November 16, 2022 1 minute ago, Mainecat said: I still think a hundred bucks is a lot of money. A thousand isn't even a lot of money anymore. A set of good truck tires is more than that now. 1 Quote Link to comment Share on other sites More sharing options...
snoughnut Posted November 16, 2022 Share Posted November 16, 2022 10 minutes ago, teamgreen02 said: A thousand isn't even a lot of money anymore. A set of good truck tires is more than that now. Who in the hell can afford those any more? Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted November 16, 2022 Author Share Posted November 16, 2022 39 minutes ago, snoughnut said: Who in the hell can afford those any more? would you be interested in 427 month or lifetime financing? Quote Link to comment Share on other sites More sharing options...
snoughnut Posted November 16, 2022 Share Posted November 16, 2022 4 minutes ago, Crnr2Crnr said: would you be interested in 427 month or lifetime financing? Saw an ad not to long ago for a new Grand Wagoneer, MSRP of $92,000 1 Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted November 16, 2022 Author Share Posted November 16, 2022 7 minutes ago, snoughnut said: Saw an ad not to long ago for a new Grand Wagoneer, MSRP of $92,000 what color did you order? Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted November 16, 2022 Share Posted November 16, 2022 I have 3 CC and a debit card. I think the overall limit is $70k. Banks just keep raising the limits without any request from me. It’s odd for sure. Quote Link to comment Share on other sites More sharing options...
1jkw Posted November 16, 2022 Share Posted November 16, 2022 We have 2 credit cards 1 for gasoline and 1 for everything else that we payoff every month. Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted November 16, 2022 Author Share Posted November 16, 2022 3 minutes ago, ActionfigureJoe said: I have 3 CC and a debit card. I think the overall limit is $70k. Banks just keep raising the limits without any request from me. It’s odd for sure. it's tied to your credit score I have a joint card my wife and I utilize and had to request they lower the limit in the event of fraud or stolen information. Lady at the credit union said we shouldn't lower the amount in the event we planned to get a loan to which I replied can you see our accounts on your screen there? yes, she said. does it look like we're concerned about getting a loan for anything? she dropped the card limit from $20k to $5k and that was the end of it. Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted November 16, 2022 Share Posted November 16, 2022 1 minute ago, Crnr2Crnr said: it's tied to your credit score I have a joint card my wife and I utilize and had to request they lower the limit in the event of fraud or stolen information. Lady at the credit union said we shouldn't lower the amount in the event we planned to get a loan to which I replied can you see our accounts on your screen there? yes, she said. does it look like we're concerned about getting a loan for anything? she dropped the card limit from $20k to $5k and that was the end of it. I just keep it as is. Only one of the CC is active. I purchase everything with it for the points. 1 Quote Link to comment Share on other sites More sharing options...
snoughnut Posted November 16, 2022 Share Posted November 16, 2022 10 minutes ago, Crnr2Crnr said: what color did you order? Quote Link to comment Share on other sites More sharing options...
teamgreen02 Posted November 16, 2022 Share Posted November 16, 2022 44 minutes ago, snoughnut said: Saw an ad not to long ago for a new Grand Wagoneer, MSRP of $92,000 The one I saw in the showroom the other day was $112,000. 1 Quote Link to comment Share on other sites More sharing options...
snoughnut Posted November 16, 2022 Share Posted November 16, 2022 13 minutes ago, teamgreen02 said: The one I saw in the showroom the other day was $112,000. insane Quote Link to comment Share on other sites More sharing options...
teamgreen02 Posted November 16, 2022 Share Posted November 16, 2022 1 hour ago, Crnr2Crnr said: would you be interested in 427 month or lifetime financing? Interesting proposition you raise. What's the payment difference if I add in the rustproofing and extended warranty? Things are a little tight for me right now after I get done paying my washer/dryer, refrigerator, couch, carpet, boat, roof, motorcycle, house, heloc, and student loan payments. Hardly enough left at the end of the month to buy Taylor Swift tickets. 39 minutes ago, Crnr2Crnr said: Lady at the credit union said we shouldn't lower the amount in the event we planned to get a loan to which I replied can you see our accounts on your screen there? yes, she said. does it look like we're concerned about getting a loan for anything? she dropped the card limit from $20k to $5k and that was the end of it. People live up to their eyeballs in debt with no margin. Their only emergency fund is that line of credit they think they are so smart having. I just want them to increase my ATM limit so I can pull out a couple grand in cash whenever I want. 1 1 Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted November 16, 2022 Share Posted November 16, 2022 (edited) credit card debts risky so people need to pay for that risk so it's always going to have a high rate. That said no way someone making 40k should be allowed to go 50% of income in debt. IMO banks should require proof of income for all loans as outside of mortggaes they basically trust the number provided so people lie to get credit cards and car loans etc. Manging credit is a skill most are unfortuantely not taught and creates lielong issues. but hey we make them take art and music classes instead do they are "well rounded" Small banks are for me inconvenient, even the CU is where thebank i use has ATM's and branches all over my normal course. But i don't have nay lons or cards with them as they are not a value to me. I pay for everything i spend on cards for rewards so I have 2 cars i use 99% of the time then a couple specific ones for certain things. Jet blues pissed me off so i stopped using them mostly unless booking travel and stick with Amex and my Amazon card. My spring vacation will be paid for with AMex points. But i have not carried a balance since the month i graduated college. Edited November 16, 2022 by Angry ginger Quote Link to comment Share on other sites More sharing options...
teamgreen02 Posted November 16, 2022 Share Posted November 16, 2022 14 minutes ago, Angry ginger said: credit card debts risky so people need to pay for that risk so it's always going to have a high rate. That said no way someone making 40k should be allowed to go 50% of income in debt. IMO banks should require proof of income for all loans as outside of mortggaes they basically trust the number provided so people lie to get credit cards and car loans etc. Manging credit is a skill most are unfortuantely not taught and creates lielong issues. but hey we make them take art and music classes instead do they are "well rounded" Small banks are for me inconvenient, even the CU is where thebank i use has ATM's and branches all over my normal course. But i don't have nay lons or cards with them as they are not a value to me. I pay for everything i spend on cards for rewards so I have 2 cars i use 99% of the time then a couple specific ones for certain things. Jet blues pissed me off so i stopped using them mostly unless booking travel and stick with Amex and my Amazon card. My spring vacation will be paid for with AMex points. But i have not carried a balance since the month i graduated college. How's the mortgage business? Quote Link to comment Share on other sites More sharing options...
Mainecat Posted November 16, 2022 Share Posted November 16, 2022 We have a debit card and a cc. Everything goes on the cc every month and is paid in full. The debit is used for cash as the cc has a charge for cash. we get cash back every month. 1 Quote Link to comment Share on other sites More sharing options...
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