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#1
Posted to rec.woodworking
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Totally OT Drive By!
So a few months ago we were discussing credit cards and I mentioned that
my credit card paid me 2% cash back on every thing I purchase. I also commented about an included feature that offered price protection for 60 days. You basically send in a copy of an ad of a cheaper price and they credit your account for the same difference in 60 days. In early March I bought an in dash Pioneer GPS radio from and had it installed by Best Buy. I also bought a back up camera that integrates with the unit. Best buy sells the unit for less than the suggested $900 retail price, IIRC about $724. I brought in a screen image of an Amazon price for the same unit and was able to purchase the unit for about $665. Sweet. http://www.pioneerelectronics.com/PU...n/AVIC-6200NEX There were several lower prices on Amazon but Best Buy would not price match because others on Amazon were offing the unit, these were not fulfilled and shipped by Amazon. Any way I sent a screen image, of the lower Amazon prices, to my credit card company and they price matched. Within a week I had a $62 credit for the lower price that I found. Sweeeter. On the last day of the 60 day limit, to finding a lower price, my credit card company sent me an e-mail indicating that "they" found an even cheaper price for for the unit I bought. I had totally forgotten about this purchase and the possibility of getting a further credit. WOW! This morning the credit showed up I got an additional $485 credit, effectively making my cost for this unit about $120. Suggested retail is $900. V E R Y S W E E T ! ! ! ! |
#2
Posted to rec.woodworking
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Totally OT Drive By!
On 05/12/2017 8:37 AM, Leon wrote:
So a few months ago we were discussing credit cards and I mentioned that my credit card paid me 2% cash back on every thing I purchase. I also commented about an included feature that offered price protection for 60 days. You basically send in a copy of an ad of a cheaper price and they credit your account for the same difference in 60 days. .... On the last day of the 60 day limit, to finding a lower price, my credit card company sent me an e-mail indicating that "they" found an even cheaper price for for the unit I bought. I had totally forgotten about this purchase and the possibility of getting a further credit. WOW! This morning the credit showed up I got an additional $485 credit, effectively making my cost for this unit about $120. Suggested retail is $900. V E R Y S W E E T ! ! ! ! The $$$ the CC issuers are raking in must be truly staggering given what they're doing on stuff like this. Those that are actually paying their minimums every month @ 18% or whatever effective APR is are really toting a load for those who just use them for cash flow... If you don't mind my asking, which is this...I've been wanting to replace one have had but haven't gotten the round tuit required...a satisfied customer would be a good recommendation... -- |
#3
Posted to rec.woodworking
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Totally OT Drive By!
On 5/12/2017 9:37 AM, Leon wrote:
So a few months ago we were discussing credit cards and I mentioned that my credit card paid me 2% cash back on every thing I purchase. I also commented about an included feature that offered price protection for 60 days. You basically send in a copy of an ad of a cheaper price and they credit your account for the same difference in 60 days. In early March I bought an in dash Pioneer GPS radio from and had it installed by Best Buy. I also bought a back up camera that integrates with the unit. Best buy sells the unit for less than the suggested $900 retail price, IIRC about $724. I brought in a screen image of an Amazon price for the same unit and was able to purchase the unit for about $665. Sweet. http://www.pioneerelectronics.com/PU...n/AVIC-6200NEX There were several lower prices on Amazon but Best Buy would not price match because others on Amazon were offing the unit, these were not fulfilled and shipped by Amazon. Any way I sent a screen image, of the lower Amazon prices, to my credit card company and they price matched. Within a week I had a $62 credit for the lower price that I found. Sweeeter. On the last day of the 60 day limit, to finding a lower price, my credit card company sent me an e-mail indicating that "they" found an even cheaper price for for the unit I bought. I had totally forgotten about this purchase and the possibility of getting a further credit. WOW! This morning the credit showed up I got an additional $485 credit, effectively making my cost for this unit about $120. Suggested retail is $900. V E R Y S W E E T ! ! ! ! Did they happen to mention where they price matched a $900 unit for $120? Might be some on here that would be interested, if for no other reason than to sell them on Ebay or Amazon at huge profits... -- Jack Tolerance is the virtue of the man without convictions. http://jbstein.com |
#4
Posted to rec.woodworking
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Totally OT Drive By!
On 5/12/2017 9:02 AM, dpb wrote:
On 05/12/2017 8:37 AM, Leon wrote: So a few months ago we were discussing credit cards and I mentioned that my credit card paid me 2% cash back on every thing I purchase. I also commented about an included feature that offered price protection for 60 days. You basically send in a copy of an ad of a cheaper price and they credit your account for the same difference in 60 days. ... On the last day of the 60 day limit, to finding a lower price, my credit card company sent me an e-mail indicating that "they" found an even cheaper price for for the unit I bought. I had totally forgotten about this purchase and the possibility of getting a further credit. WOW! This morning the credit showed up I got an additional $485 credit, effectively making my cost for this unit about $120. Suggested retail is $900. V E R Y S W E E T ! ! ! ! The $$$ the CC issuers are raking in must be truly staggering given what they're doing on stuff like this. Those that are actually paying their minimums every month @ 18% or whatever effective APR is are really toting a load for those who just use them for cash flow... Absolutely true. We use two credit cards monthly and at least once a month both have a Zero balance. Discover is one as it pays 5% on quarterly purchases of certain items, 1% on all others. If you don't mind my asking, which is this...I've been wanting to replace one have had but haven't gotten the round tuit required...a satisfied customer would be a good recommendation... -- Citi Bank "Double Cash", this particular one is a Master Card. |
#5
Posted to rec.woodworking
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Totally OT Drive By!
On 5/12/2017 9:15 AM, Jack wrote:
On 5/12/2017 9:37 AM, Leon wrote: So a few months ago we were discussing credit cards and I mentioned that my credit card paid me 2% cash back on every thing I purchase. I also commented about an included feature that offered price protection for 60 days. You basically send in a copy of an ad of a cheaper price and they credit your account for the same difference in 60 days. In early March I bought an in dash Pioneer GPS radio from and had it installed by Best Buy. I also bought a back up camera that integrates with the unit. Best buy sells the unit for less than the suggested $900 retail price, IIRC about $724. I brought in a screen image of an Amazon price for the same unit and was able to purchase the unit for about $665. Sweet. http://www.pioneerelectronics.com/PU...n/AVIC-6200NEX There were several lower prices on Amazon but Best Buy would not price match because others on Amazon were offing the unit, these were not fulfilled and shipped by Amazon. Any way I sent a screen image, of the lower Amazon prices, to my credit card company and they price matched. Within a week I had a $62 credit for the lower price that I found. Sweeeter. On the last day of the 60 day limit, to finding a lower price, my credit card company sent me an e-mail indicating that "they" found an even cheaper price for for the unit I bought. I had totally forgotten about this purchase and the possibility of getting a further credit. WOW! This morning the credit showed up I got an additional $485 credit, effectively making my cost for this unit about $120. Suggested retail is $900. V E R Y S W E E T ! ! ! ! Did they happen to mention where they price matched a $900 unit for $120? Jet.com And actually they were around $182. I had already gotten a credit for the $62 for the price difference between Best Buys price and the Amazon Price. Might be some on here that would be interested, if for no other reason than to sell them on Ebay or Amazon at huge profits... |
#6
Posted to rec.woodworking
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Totally OT Drive By!
On 05/12/2017 10:17 AM, Leon wrote:
On 5/12/2017 9:02 AM, dpb wrote: .... If you don't mind my asking, which is this...... .... Citi Bank "Double Cash", this particular one is a Master Card. Thx, thunk mighta' been...one had considered. As you, use CCs extensively but never run a balance. ? was want to dump the AmEx as the merchant fees are so onerous the acceptance-level by many places here locally has dropped precipitously including some where used it frequently prior... -- |
#7
Posted to rec.woodworking
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Totally OT Drive By!
On 05/12/2017 2:50 PM, Lap Joint wrote:
In Leonlcb11211@swbelldotnet wrote: .... Jet.com And actually they were around $182. ... according to JET.COM customer service (855)538-4323 USD$596 is the lowest price they ever had for the pioneer avic-6200nex .... A closeout on discontinued model, maybe? What I don't really understand is why the CC company would be doing this at all...I can see the marketing ploy to get a new card customer of "we'll match whatever you can find". But once they've got that card business don't see how it makes any sense at all to make; that seems as though does nothing but take $$$ off the bottom line which business model doesn't really match with my idea of CC companies. Leon -- any chance you've got plug in activated that's doing this and it just _looks like_ it's coming from Citi or some such scenario??? What's that late-night TV ad place I see that's supposed to some kind of bidding site? If found the particular item at that kind of site could see a really low price, comparatively. -- |
#8
Posted to rec.woodworking
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Totally OT Drive By!
On Friday, May 12, 2017 at 5:50:58 PM UTC-4, dpb wrote:
On 05/12/2017 2:50 PM, Lap Joint wrote: In Leonlcb11211@swbelldotnet wrote: ... Jet.com And actually they were around $182. ... according to JET.COM customer service (855)538-4323 USD$596 is the lowest price they ever had for the pioneer avic-6200nex ... A closeout on discontinued model, maybe? What I don't really understand is why the CC company would be doing this at all...I can see the marketing ploy to get a new card customer of "we'll match whatever you can find". But once they've got that card business don't see how it makes any sense at all to make; that seems as though does nothing but take $$$ off the bottom line which business model doesn't really match with my idea of CC companies. Leon -- any chance you've got plug in activated that's doing this and it just _looks like_ it's coming from Citi or some such scenario??? What's that late-night TV ad place I see that's supposed to some kind of bidding site? If found the particular item at that kind of site could see a really low price, comparatively. -- Deal Dash? |
#9
Posted to rec.woodworking
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Totally OT Drive By!
On Fri, 12 May 2017 11:32:32 -0500, dpb wrote:
On 05/12/2017 10:17 AM, Leon wrote: On 5/12/2017 9:02 AM, dpb wrote: ... If you don't mind my asking, which is this...... ... Citi Bank "Double Cash", this particular one is a Master Card. Thx, thunk mighta' been...one had considered. Yes, thanks. I've been considering that one as well. I don't know which one I'd dump. I, too, have two I use and pay off each month. As you, use CCs extensively but never run a balance. ? was want to dump the AmEx as the merchant fees are so onerous the acceptance-level by many places here locally has dropped precipitously including some where used it frequently prior... I haven't had my Amex refused for several years. Though I'm really happy with the Amex, it's probably the one I'd ditch. My Sam's MC pays 5% for gas, so it's a keeper. |
#11
Posted to rec.woodworking
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Totally OT Drive By!
On 5/12/2017 5:50 PM, dpb wrote:
What I don't really understand is why the CC company would be doing this at all...I can see the marketing ploy to get a new card customer of "we'll match whatever you can find". But once they've got that card business don't see how it makes any sense at all to make; that seems as though does nothing but take $$$ off the bottom line which business model doesn't really match with my idea of CC companies. Competition. If they do it for a period and stop, customers will jump to another card that gives cash back. We go to BJ's about once a month and I always used cash or debit card. Discover offered 5% when used at club stores. I can enjoy the 5% back on a $300 purchase so I used the card. Amazon Prime gave me 5% of a $1300 TV too. It is also an incentive for people that cannot manage money to use a card to get 2% back and pay 29% interest on the balance. |
#12
Posted to rec.woodworking
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Totally OT Drive By!
On 05/12/2017 8:29 PM, Ed Pawlowski wrote:
.... Competition. If they do it for a period and stop, customers will jump to another card that gives cash back. .... That's not what was speaking of; "sure" on that. -- |
#13
Posted to rec.woodworking
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Totally OT Drive By!
On Fri, 12 May 2017 19:22:18 -0500, dpb wrote:
On 05/12/2017 7:11 PM, wrote: ... I haven't had my Amex refused for several years. ... Huh. There are now more places in town here that refuse it now than accept it in the hardware/building supply arenas which is about all I purchase locally on CC as have open accounts at essentially every where else. Of course, this is a small market where there's only one building supply and a couple hardware stores, so it doesn't take many to make it useless. I suppose what I should do is just open accounts at both instead... Entirely possible but I haven't had a problem with mine in years. Perhaps it's a regional thing? |
#14
Posted to rec.woodworking
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Totally OT Drive By!
On Fri, 12 May 2017 21:29:28 -0400, Ed Pawlowski wrote:
On 5/12/2017 5:50 PM, dpb wrote: What I don't really understand is why the CC company would be doing this at all...I can see the marketing ploy to get a new card customer of "we'll match whatever you can find". But once they've got that card business don't see how it makes any sense at all to make; that seems as though does nothing but take $$$ off the bottom line which business model doesn't really match with my idea of CC companies. Competition. If they do it for a period and stop, customers will jump to another card that gives cash back. Those with excellent credit, sure. These cards are only available to those who have really good credit. Club cards may have a little more leeway. They're pretty stingy with credit lines for the first year, anyway, which I thought was pretty dumb because they are picky with the customers for these cards. We go to BJ's about once a month and I always used cash or debit card. Discover offered 5% when used at club stores. I can enjoy the 5% back on a $300 purchase so I used the card. Amazon Prime gave me 5% of a $1300 TV too. A decade ago, or so, I was at a BP station and noticed their 5% cash back on gasoline and for three months, 5% on everything else, too. I got the card but they only gave me a $5000 credit limit (rats!). We bought a couple of rooms of Amish furniture. I made a deal with the factory to pay them $5000 on order, $5000 a month later, and another $5000 on delivery. That card paid for half my Unisaur. ;-) It is also an incentive for people that cannot manage money to use a card to get 2% back and pay 29% interest on the balance. ...and make it up in volume. |
#15
Posted to rec.woodworking
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Totally OT Drive By!
On 5/12/2017 9:37 AM, Leon wrote:
So a few months ago we were discussing credit cards and I mentioned that my credit card paid me 2% cash back on every thing I purchase. I also commented about an included feature that offered price protection for 60 days. You basically send in a copy of an ad of a cheaper price and they credit your account for the same difference in 60 days. In early March I bought an in dash Pioneer GPS radio from and had it installed by Best Buy. I also bought a back up camera that integrates with the unit. Best buy sells the unit for less than the suggested $900 retail price, IIRC about $724. I brought in a screen image of an Amazon price for the same unit and was able to purchase the unit for about $665. Sweet. http://www.pioneerelectronics.com/PU...n/AVIC-6200NEX There were several lower prices on Amazon but Best Buy would not price match because others on Amazon were offing the unit, these were not fulfilled and shipped by Amazon. Any way I sent a screen image, of the lower Amazon prices, to my credit card company and they price matched. Within a week I had a $62 credit for the lower price that I found. Sweeeter. On the last day of the 60 day limit, to finding a lower price, my credit card company sent me an e-mail indicating that "they" found an even cheaper price for for the unit I bought. I had totally forgotten about this purchase and the possibility of getting a further credit. WOW! This morning the credit showed up I got an additional $485 credit, effectively making my cost for this unit about $120. Suggested retail is $900. V E R Y S W E E T ! ! ! ! Well you deserve a BIG YOU SUCK! -- Jeff |
#16
Posted to rec.woodworking
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Totally OT Drive By!
dpb wrote:
On 05/12/2017 2:50 PM, Lap Joint wrote: In Leonlcb11211@swbelldotnet wrote: ... Jet.com And actually they were around $182. ... according to JET.COM customer service (855)538-4323 USD$596 is the lowest price they ever had for the pioneer avic-6200nex ... A closeout on discontinued model, maybe? What I don't really understand is why the CC company would be doing this at all...I can see the marketing ploy to get a new card customer of "we'll match whatever you can find". But once they've got that card business don't see how it makes any sense at all to make; that seems as though does nothing but take $$$ off the bottom line which business model doesn't really match with my idea of CC companies. Leon -- any chance you've got plug in activated that's doing this and it just _looks like_ it's coming from Citi or some such scenario??? Not sure I follow. Citi confirms with an email that they are watching an item I set up to watch. Then I get an email from citi that it is approved and finally an email confirming the credit. I check my cc balance this morning and the credit was there. This happened the same way on a small TV I purchased a couple of years ago, they found the cheaper price. What's that late-night TV ad place I see that's supposed to some kind of bidding site? If found the particular item at that kind of site could see a really low price, comparatively. -- Mine was a last years model when I bought. Mine is a 6200, the later model is a 6201. |
#17
Posted to rec.woodworking
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Totally OT Drive By!
woodchucker wrote:
On 5/12/2017 9:37 AM, Leon wrote: So a few months ago we were discussing credit cards and I mentioned that my credit card paid me 2% cash back on every thing I purchase. I also commented about an included feature that offered price protection for 60 days. You basically send in a copy of an ad of a cheaper price and they credit your account for the same difference in 60 days. In early March I bought an in dash Pioneer GPS radio from and had it installed by Best Buy. I also bought a back up camera that integrates with the unit. Best buy sells the unit for less than the suggested $900 retail price, IIRC about $724. I brought in a screen image of an Amazon price for the same unit and was able to purchase the unit for about $665. Sweet. http://www.pioneerelectronics.com/PU...n/AVIC-6200NEX There were several lower prices on Amazon but Best Buy would not price match because others on Amazon were offing the unit, these were not fulfilled and shipped by Amazon. Any way I sent a screen image, of the lower Amazon prices, to my credit card company and they price matched. Within a week I had a $62 credit for the lower price that I found. Sweeeter. On the last day of the 60 day limit, to finding a lower price, my credit card company sent me an e-mail indicating that "they" found an even cheaper price for for the unit I bought. I had totally forgotten about this purchase and the possibility of getting a further credit. WOW! This morning the credit showed up I got an additional $485 credit, effectively making my cost for this unit about $120. Suggested retail is $900. V E R Y S W E E T ! ! ! ! Well you deserve a BIG YOU SUCK! Yeah. LOL |
#18
Posted to rec.woodworking
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Totally OT Drive By!
On 5/12/2017 11:20 AM, Leon wrote:
WOW! This morning the credit showed up I got an additional $485 credit, effectively making my cost for this unit about $120. Suggested retail is $900. V E R Y S W E E T ! ! ! ! Did they happen to mention where they price matched a $900 unit for $120? Jet.com And actually they were around $182. I had already gotten a credit for the $62 for the price difference between Best Buys price and the Amazon Price. When I go there the price ranges from $596.90 to $925.43, depending on what all you get with it. I think they may have screwed up, or I'm missing something. -- Jack Tolerance is the virtue of the man without convictions. http://jbstein.com |
#19
Posted to rec.woodworking
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Totally OT Drive By!
On 5/12/2017 2:50 PM, Lap Joint wrote:
In article Leon lcb11211@swbelldotnet wrote: On 5/12/2017 9:15 AM, Jack wrote: On 5/12/2017 9:37 AM, Leon wrote: So a few months ago we were discussing credit cards and I mentioned that my credit card paid me 2% cash back on every thing I purchase. I also commented about an included feature that offered price protection for 60 days. You basically send in a copy of an ad of a cheaper price and they credit your account for the same difference in 60 days. In early March I bought an in dash Pioneer GPS radio from and had it installed by Best Buy. I also bought a back up camera that integrates with the unit. Best buy sells the unit for less than the suggested $900 retail price, IIRC about $724. I brought in a screen image of an Amazon price for the same unit and was able to purchase the unit for about $665. Sweet. http://www.pioneerelectronics.com/PU...n/AVIC-6200NEX There were several lower prices on Amazon but Best Buy would not price match because others on Amazon were offing the unit, these were not fulfilled and shipped by Amazon. Any way I sent a screen image, of the lower Amazon prices, to my credit card company and they price matched. Within a week I had a $62 credit for the lower price that I found. Sweeeter. On the last day of the 60 day limit, to finding a lower price, my credit card company sent me an e-mail indicating that "they" found an even cheaper price for for the unit I bought. I had totally forgotten about this purchase and the possibility of getting a further credit. WOW! This morning the credit showed up I got an additional $485 credit, effectively making my cost for this unit about $120. Suggested retail is $900. V E R Y S W E E T ! ! ! ! Did they happen to mention where they price matched a $900 unit for $120? Jet.com And actually they were around $182. I had already gotten a credit for the $62 for the price difference between Best Buys price and the Amazon Price. according to JET.COM customer service (855)538-4323 USD$596 is the lowest price they ever had for the pioneer avic-6200nex https://jet.com/search?term=AVIC-6200NEX Well, CitiCards found the price, I got a $485 credit, I'm not going to argue with that. best buy has not carried that model number for over a year, the sales rep looked it up. Regardless, I bought that model on March 5, 2017. They did have to order it, 3 days wait. |
#20
Posted to rec.woodworking
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Totally OT Drive By!
You guys are reading something into this that isn't there. Leon is the kind of guys credit card companies hate. The price match program isn't for him, and they resent the fact that he uses it. I did a stint working for a bank working on all types of residential construction loans so I was required to take all kinds of classes on credit vehicles and applications. Seriously, the term in the industry for brother Leon is a "deadbeat" because the make NO money from him. No interest, no annual fees, no cash advance interest, no transfer fees, nothing. Worse, they have to pay him under the agreement with the card of reference! Hence, since theypay money out without receiving anything from him, "deadbeat".
According to NerdWallet, Bloomberg, and a couple of others, the CC debt for the average household is over $16K! According to Bankrate.com, the average low interest card is at an APR of a little over 13%, but the average cash back/points back/rewards card is 17.68%. I used this calculator (which is also used by banks to check numbers) to get some idea of what that means to the consumer. http://www.bankrate.com/calculators/...m-payment.aspx Using a 16K balance, a 17.68% APR, a 4% required payment, the calculator shows that there will be $25K paid out at the minimum payment to pay off the principal and interest! Depending on their method, the front end interest on the monthly payment of $640 is about $230 per payment. YMMV, depending on the calculator. I have a Citibank that has no annual fee, a points system, etc., different crap I don't use or want, and the interest payment (according to them) using those parameters is closer to $325 a month. Regardless, look at the income average for the CC companies. Add in annual fees for many, add in late fees for many, fees from cash advances, fees from balance transfers, etc., and you have to wonder how much CC companies make per user a month on average. With all costs, fees, interest and anything else that can be added, I'll bet it is around $350 a month. So really, does anyone think they care about price matching and sending Leon a credit? The CC companies are plucking so many chickens that they don't even notice him. On the other hand, thanks a lot, Leon. Since you are a deadbeat, every other chicken is being plucked so you can have a free feather pillow! Robert |
#21
Posted to rec.woodworking
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Totally OT Drive By!
On Sat, 13 May 2017 09:07:22 -0700 (PDT), "
wrote: You guys are reading something into this that isn't there. Leon is the kind of guys credit card companies hate. The price match program isn't for him, and they resent the fact that he uses it. I did a stint working for a bank working on all types of residential construction loans so I was required to take all kinds of classes on credit vehicles and applications. Seriously, the term in the industry for brother Leon is a "deadbeat" because the make NO money from him. No interest, no annual fees, no cash advance interest, no transfer fees, nothing. Worse, they have to pay him under the agreement with the card of reference! Hence, since theypay money out without receiving anything from him, "deadbeat". According to NerdWallet, Bloomberg, and a couple of others, the CC debt for the average household is over $16K! According to Bankrate.com, the average low interest card is at an APR of a little over 13%, but the average cash back/points back/rewards card is 17.68%. I used this calculator (which is also used by banks to check numbers) to get some idea of what that means to the consumer. http://www.bankrate.com/calculators/...m-payment.aspx Using a 16K balance, a 17.68% APR, a 4% required payment, the calculator shows that there will be $25K paid out at the minimum payment to pay off the principal and interest! Depending on their method, the front end interest on the monthly payment of $640 is about $230 per payment. YMMV, depending on the calculator. I have a Citibank that has no annual fee, a points system, etc., different crap I don't use or want, and the interest payment (according to them) using those parameters is closer to $325 a month. Regardless, look at the income average for the CC companies. Add in annual fees for many, add in late fees for many, fees from cash advances, fees from balance transfers, etc., and you have to wonder how much CC companies make per user a month on average. With all costs, fees, interest and anything else that can be added, I'll bet it is around $350 a month. So really, does anyone think they care about price matching and sending Leon a credit? The CC companies are plucking so many chickens that they don't even notice him. On the other hand, thanks a lot, Leon. Since you are a deadbeat, every other chicken is being plucked so you can have a free feather pillow! On top of all that he owns his house ::gasp:: |
#22
Posted to rec.woodworking
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Totally OT Drive By!
" wrote in
: You guys are reading something into this that isn't there. Leon is the kind of guys credit card companies hate. The price match program isn't for him, and they resent the fact that he uses it. I did a stint working for a bank working on all types of residential construction loans so I was required to take all kinds of classes on credit vehicles and applications. Seriously, the term in the industry for brother Leon is a "deadbeat" because the make NO money from him. No interest, no annual fees, no cash advance interest, no transfer fees, nothing. Worse, they have to pay him under the agreement with the card of reference! Hence, since theypay money out without receiving anything from him, "deadbeat". What about the merchant fees? Every time he uses his card, they get a small piece of the pie. It seems the average rate is 3%. One more thought: Leon's happy, he's talking about his card. Others are saying "I'd like to get me some of that action." There's no guarantee they'll be "deadbeat" customers as well. Happy Leon=more sales. (I won't even mention the F-word.) Puckdropper -- http://www.puckdroppersplace.us/rec.woodworking A mini archive of some of rec.woodworking's best and worst! |
#24
Posted to rec.woodworking
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Totally OT Drive By!
On Sat, 13 May 2017 11:39:48 -0500, Markem
wrote: On Sat, 13 May 2017 09:07:22 -0700 (PDT), " wrote: You guys are reading something into this that isn't there. Leon is the kind of guys credit card companies hate. The price match program isn't for him, and they resent the fact that he uses it. I did a stint working for a bank working on all types of residential construction loans so I was required to take all kinds of classes on credit vehicles and applications. Seriously, the term in the industry for brother Leon is a "deadbeat" because the make NO money from him. No interest, no annual fees, no cash advance interest, no transfer fees, nothing. Worse, they have to pay him under the agreement with the card of reference! Hence, since theypay money out without receiving anything from him, "deadbeat". According to NerdWallet, Bloomberg, and a couple of others, the CC debt for the average household is over $16K! According to Bankrate.com, the average low interest card is at an APR of a little over 13%, but the average cash back/points back/rewards card is 17.68%. I used this calculator (which is also used by banks to check numbers) to get some idea of what that means to the consumer. http://www.bankrate.com/calculators/...m-payment.aspx Using a 16K balance, a 17.68% APR, a 4% required payment, the calculator shows that there will be $25K paid out at the minimum payment to pay off the principal and interest! Depending on their method, the front end interest on the monthly payment of $640 is about $230 per payment. YMMV, depending on the calculator. I have a Citibank that has no annual fee, a points system, etc., different crap I don't use or want, and the interest payment (according to them) using those parameters is closer to $325 a month. Regardless, look at the income average for the CC companies. Add in annual fees for many, add in late fees for many, fees from cash advances, fees from balance transfers, etc., and you have to wonder how much CC companies make per user a month on average. With all costs, fees, interest and anything else that can be added, I'll bet it is around $350 a month. So really, does anyone think they care about price matching and sending Leon a credit? The CC companies are plucking so many chickens that they don't even notice him. On the other hand, thanks a lot, Leon. Since you are a deadbeat, every other chicken is being plucked so you can have a free feather pillow! On top of all that he owns his house ::gasp:: I have three more payments. ;-) |
#25
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Totally OT Drive By!
On 5/13/2017 11:54 AM, Puckdropper wrote:
" wrote in : You guys are reading something into this that isn't there. Leon is the kind of guys credit card companies hate. The price match program isn't for him, and they resent the fact that he uses it. I did a stint working for a bank working on all types of residential construction loans so I was required to take all kinds of classes on credit vehicles and applications. Seriously, the term in the industry for brother Leon is a "deadbeat" because the make NO money from him. No interest, no annual fees, no cash advance interest, no transfer fees, nothing. Worse, they have to pay him under the agreement with the card of reference! Hence, since theypay money out without receiving anything from him, "deadbeat". What about the merchant fees? Every time he uses his card, they get a small piece of the pie. It seems the average rate is 3%. One more thought: Leon's happy, he's talking about his card. Others are saying "I'd like to get me some of that action." There's no guarantee they'll be "deadbeat" customers as well. Happy Leon=more sales. (I won't even mention the F-word.) Puckdropper That is the way I see it. You should see how much I received in credits from the GM credit card program when I bought a truck and a vehicle for my son, way back in 1997 and 2005. That card offered 5% credit on every purchase towards the purchase of a GM vehicle. $5K+ |
#26
Posted to rec.woodworking
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Totally OT Drive By!
On 5/13/2017 12:03 PM, wrote:
On Sat, 13 May 2017 11:39:48 -0500, Markem wrote: On Sat, 13 May 2017 09:07:22 -0700 (PDT), " wrote: You guys are reading something into this that isn't there. Leon is the kind of guys credit card companies hate. The price match program isn't for him, and they resent the fact that he uses it. I did a stint working for a bank working on all types of residential construction loans so I was required to take all kinds of classes on credit vehicles and applications. Seriously, the term in the industry for brother Leon is a "deadbeat" because the make NO money from him. No interest, no annual fees, no cash advance interest, no transfer fees, nothing. Worse, they have to pay him under the agreement with the card of reference! Hence, since theypay money out without receiving anything from him, "deadbeat". According to NerdWallet, Bloomberg, and a couple of others, the CC debt for the average household is over $16K! According to Bankrate.com, the average low interest card is at an APR of a little over 13%, but the average cash back/points back/rewards card is 17.68%. I used this calculator (which is also used by banks to check numbers) to get some idea of what that means to the consumer. http://www.bankrate.com/calculators/...m-payment.aspx Using a 16K balance, a 17.68% APR, a 4% required payment, the calculator shows that there will be $25K paid out at the minimum payment to pay off the principal and interest! Depending on their method, the front end interest on the monthly payment of $640 is about $230 per payment. YMMV, depending on the calculator. I have a Citibank that has no annual fee, a points system, etc., different crap I don't use or want, and the interest payment (according to them) using those parameters is closer to $325 a month. Regardless, look at the income average for the CC companies. Add in annual fees for many, add in late fees for many, fees from cash advances, fees from balance transfers, etc., and you have to wonder how much CC companies make per user a month on average. With all costs, fees, interest and anything else that can be added, I'll bet it is around $350 a month. So really, does anyone think they care about price matching and sending Leon a credit? The CC companies are plucking so many chickens that they don't even notice him. On the other hand, thanks a lot, Leon. Since you are a deadbeat, every other chicken is being plucked so you can have a free feather pillow! On top of all that he owns his house ::gasp:: I have three more payments. ;-) I am on my negative 246th payment. ;~) Enjoy the freedom. |
#27
Posted to rec.woodworking
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Totally OT Drive By!
wrote in message
... You guys are reading something into this that isn't there. Leon is the kind of guys credit card companies hate. The price match program isn't for him, and they resent the fact that he uses it. I did a stint working for a bank working on all types of residential construction loans so I was required to take all kinds of classes on credit vehicles and applications. Seriously, the term in the industry for brother Leon is a "deadbeat" because the make NO money from him. No interest, no annual fees, no cash advance interest, no transfer fees, nothing. Worse, they have to pay him under the agreement with the card of reference! Hence, since theypay money out without receiving anything from him, "deadbeat". I guess I'm a "deadbeat" too... and happy about it! LOL I don't feel bad at all as the CC companies are wracking up pretty hefty merchant fees from my utilization. As such they are generating an income stream from me. |
#28
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Totally OT Drive By!
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#29
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Totally OT Drive By!
On Sat, 13 May 2017 13:43:12 -0500, Leon lcb11211@swbelldotnet
wrote: On 5/13/2017 12:03 PM, wrote: On Sat, 13 May 2017 11:39:48 -0500, Markem wrote: On Sat, 13 May 2017 09:07:22 -0700 (PDT), " wrote: You guys are reading something into this that isn't there. Leon is the kind of guys credit card companies hate. The price match program isn't for him, and they resent the fact that he uses it. I did a stint working for a bank working on all types of residential construction loans so I was required to take all kinds of classes on credit vehicles and applications. Seriously, the term in the industry for brother Leon is a "deadbeat" because the make NO money from him. No interest, no annual fees, no cash advance interest, no transfer fees, nothing. Worse, they have to pay him under the agreement with the card of reference! Hence, since theypay money out without receiving anything from him, "deadbeat". According to NerdWallet, Bloomberg, and a couple of others, the CC debt for the average household is over $16K! According to Bankrate.com, the average low interest card is at an APR of a little over 13%, but the average cash back/points back/rewards card is 17.68%. I used this calculator (which is also used by banks to check numbers) to get some idea of what that means to the consumer. http://www.bankrate.com/calculators/...m-payment.aspx Using a 16K balance, a 17.68% APR, a 4% required payment, the calculator shows that there will be $25K paid out at the minimum payment to pay off the principal and interest! Depending on their method, the front end interest on the monthly payment of $640 is about $230 per payment. YMMV, depending on the calculator. I have a Citibank that has no annual fee, a points system, etc., different crap I don't use or want, and the interest payment (according to them) using those parameters is closer to $325 a month. Regardless, look at the income average for the CC companies. Add in annual fees for many, add in late fees for many, fees from cash advances, fees from balance transfers, etc., and you have to wonder how much CC companies make per user a month on average. With all costs, fees, interest and anything else that can be added, I'll bet it is around $350 a month. So really, does anyone think they care about price matching and sending Leon a credit? The CC companies are plucking so many chickens that they don't even notice him. On the other hand, thanks a lot, Leon. Since you are a deadbeat, every other chicken is being plucked so you can have a free feather pillow! On top of all that he owns his house ::gasp:: I have three more payments. ;-) I am on my negative 246th payment. ;~) Enjoy the freedom. Now SWMBO wants to move. :-( |
#30
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Totally OT Drive By!
On Sat, 13 May 2017 17:21:30 -0500, Unquestionably Confused
wrote: On 5/13/2017 4:31 PM, dpb wrote: On 05/13/2017 11:07 AM, wrote: You guys are reading something into this that isn't there. Leon is the kind of guys credit card companies hate. The price match program isn't for him, and they resent the fact that he uses it. ... Not reading into it at all, but am curious why the CC company is doing the searching; particularly if they "resent him using" the rebate program. That's just more $$ out of their pocket they didn't need to lose... As noted in a further response, they make their fee on every purchase and most of the ilk of Leon make pretty sizable use of them so that adds up (not to 20% APR, no, but 3% or so I think is pretty typical; AmEx raised to now almost 5% was what the building supply manager here told me was why dropped them. Let's hear it for the "deadbeats" I am proud to be one. I pay annual fees on just two credit cards (AMEX and American Airlines Platinum tied in to my FF account). AMEX is now an affinity card with Starwood Hotels (and now Marriott) and time share resorts. Between those two cards I pay off in full ~ $6000/mo. On AMEX I have enough points in Starwood to spend ~ 60 nights free, plus I get upgrades when available. On the AA card between purchases and flights I currently have ~ 190K miles or, roughly, 7 round trip tickets. We fly enough that the free checked baggage alone puts me $100 ahead of the game at the end of the year. The priority boarding is also a nice perk.The rest is gravy. Should they decide this "deadbeat" is no longer worthy of their card, that's okay. With a FICO hovering around 830, I'm sure I can find somebody who'll grant me short term credit. That 2½% to 5% merchant fee they're collecting is not bad considering it's essentially no risk to them. Those folks, in this economy, who are carrying $16K or more in credit card debt represent a significant risk to the card issuer. Exactly. If they get one or two percent from me, per month, with essentially zero risk, they should be pretty damn happy. I just don't understand why anyone, such as yourself, with excellent credit, would pay for a credit card. There are *so* many good, free, ones around. I'm sure you have your reasons but I don't get it. |
#31
Posted to rec.woodworking
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Totally OT Drive By!
On 5/13/2017 4:31 PM, dpb wrote:
On 05/13/2017 11:07 AM, wrote: You guys are reading something into this that isn't there. Leon is the kind of guys credit card companies hate. The price match program isn't for him, and they resent the fact that he uses it. ... Not reading into it at all, but am curious why the CC company is doing the searching; particularly if they "resent him using" the rebate program. That's just more $$ out of their pocket they didn't need to lose... As noted in a further response, they make their fee on every purchase and most of the ilk of Leon make pretty sizable use of them so that adds up (not to 20% APR, no, but 3% or so I think is pretty typical; AmEx raised to now almost 5% was what the building supply manager here told me was why dropped them. -- Ironically when I visit the CC company and review my spending for the month the CC company actually marks certain purchases as possibly being eligible for a price match. With that marker there is a link to add the item to a list of items to be watched. You can either hunt for them and send in the documentation of let them do the looking. That is what happened on this GPS/Radio on the second credit. |
#32
Posted to rec.woodworking
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Totally OT Drive By!
On 5/13/17 12:07 PM, Leon wrote:
On 5/13/2017 11:54 AM, Puckdropper wrote: " wrote in : You guys are reading something into this that isn't there. Leon is the kind of guys credit card companies hate. The price match program isn't for him, and they resent the fact that he uses it. I did a stint working for a bank working on all types of residential construction loans so I was required to take all kinds of classes on credit vehicles and applications. Seriously, the term in the industry for brother Leon is a "deadbeat" because the make NO money from him. No interest, no annual fees, no cash advance interest, no transfer fees, nothing. Worse, they have to pay him under the agreement with the card of reference! Hence, since theypay money out without receiving anything from him, "deadbeat". What about the merchant fees? Every time he uses his card, they get a small piece of the pie. It seems the average rate is 3%. One more thought: Leon's happy, he's talking about his card. Others are saying "I'd like to get me some of that action." There's no guarantee they'll be "deadbeat" customers as well. Happy Leon=more sales. (I won't even mention the F-word.) Puckdropper That is the way I see it. You should see how much I received in credits from the GM credit card program when I bought a truck and a vehicle for my son, way back in 1997 and 2005. That card offered 5% credit on every purchase towards the purchase of a GM vehicle. $5K+ My friend did that with a Ford card in the early 90s and ended up getting about $8k off a new car (after all bargaining and other discounts). Ford soon after added a cap to the discount. -- -MIKE- "Playing is not something I do at night, it's my function in life" --Elvin Jones (1927-2004) -- http://mikedrums.com ---remove "DOT" ^^^^ to reply |
#33
Posted to rec.woodworking
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Totally OT Drive By!
On 5/13/17 12:07 PM, Leon wrote:
On 5/13/2017 11:54 AM, Puckdropper wrote: " wrote in : You guys are reading something into this that isn't there. Leon is the kind of guys credit card companies hate. The price match program isn't for him, and they resent the fact that he uses it. I did a stint working for a bank working on all types of residential construction loans so I was required to take all kinds of classes on credit vehicles and applications. Seriously, the term in the industry for brother Leon is a "deadbeat" because the make NO money from him. No interest, no annual fees, no cash advance interest, no transfer fees, nothing. Worse, they have to pay him under the agreement with the card of reference! Hence, since theypay money out without receiving anything from him, "deadbeat". What about the merchant fees? Every time he uses his card, they get a small piece of the pie. It seems the average rate is 3%. One more thought: Leon's happy, he's talking about his card. Others are saying "I'd like to get me some of that action." There's no guarantee they'll be "deadbeat" customers as well. Happy Leon=more sales. (I won't even mention the F-word.) Puckdropper That is the way I see it. You should see how much I received in credits from the GM credit card program when I bought a truck and a vehicle for my son, way back in 1997 and 2005. That card offered 5% credit on every purchase towards the purchase of a GM vehicle. $5K+ My friend did that with a Ford card in the early 90s and ended up getting about $8k off a new car (after all bargaining and other discounts). Ford soon after added a cap to the discount. -- -MIKE- "Playing is not something I do at night, it's my function in life" --Elvin Jones (1927-2004) -- http://mikedrums.com ---remove "DOT" ^^^^ to reply |
#34
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Totally OT Drive By!
By industry standards, I am a deadbeat, too. There are months when I pay off my business credit accounts and it can reach nearly $10K. Any given month. It is about $7500 or so, but it is due every month. Rain days? What are those? Client doesn't pay on time? Not my creditors fault, you can ask them. No excuses, no leeway. If I miss or I am late, I might get a pass, but most likely will be terminated as a credit client. Commercial credit is demanding; a late fee for an "oops" isn't part of the equation. So I don't miss, and I am not late.
My house is paid off and has been for years. My old beater truck was paid off 10 years ago. I carry very little personal credit and actually only have one personal credit card. When I checked my credit scores a couple of years ago, they were disappointingly low. I called the clearing house (TransUnion of Equifax) and they told me that it wasn't that I had bad credit, it was that I didn't have ANY credit history of recent vintage. My training in credit services was ringing in my ears. "The prospective client must be able to demonstrate the ability to repay along with a current and active history of timely repayment". I put my eye surgery on my card ($9K) and paid it out using various schemes over about 2 years. My FICO score went up about 35 points, and I started getting more credit card offers. Hurray! Robert needs us again! Let's load him up! It took a long time to get through my noggin that the credit card industry and other short term lenders don't care how much debt you have. (NOT talking the mortgage industry.) They care about your ability to repay. They don't care that you are a thrifty saver. Case in point, when you applied for a credit card, did they verify and of your cash on hand or CDs, etc.? Nope, they run a credit report, take your word on your income, and make a decision. You can be overwhelmed with debt, and have NO money in the bank and still get more credit cards. Credit card companies have no use for thrifty people, highly disciplined spenders, or folks that refuse to be sodomized by them. 10 years in lending led me to despise the short term credit industry. To make the point that the credit card issuers, servicers, and promoters are souless vampires that will drink every drop of your blood, watch this: http://www.pbs.org/wgbh/pages/frontline/shows/credit/ It is a few years old, but NOTHING has changed, except to get worse. They even have the guy that developed the scheme that has a person pay so little on their credit cards that they can never pay it off. That is modified now and is illegal, but your minimum payment can still be less than the debt service fee, making that payment an interest only payment. The documentary shows how scheming, cunning, and evil the credit card companies are, and again, they are worse now than they were when that documentary was made. The documentary stays up though, as most people don't have any idea how credit cards work. Literally, when I saw that documentary, it gave me shivers. I have encouraged anyone I can to take a look at it. Robert |
#35
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Totally OT Drive By!
On 05/13/2017 8:31 PM, Leon wrote:
.... Ironically when I visit the CC company and review my spending for the month the CC company actually marks certain purchases as possibly being eligible for a price match. With that marker there is a link to add the item to a list of items to be watched. You can either hunt for them and send in the documentation of let them do the looking. That is what happened on this GPS/Radio on the second credit. Yeah, it's all a bunch o' 'bots in the background...that part I grok. I don't have accounts online so wasn't thinking of that interaction for the listing check box. Somebody will eventually wake up to the fact that once they've paid a match on a given item they've fulfilled their obligation and will close that loophole in the code... Now figure out a way to phake the matching data! -- |
#36
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Totally OT Drive By!
dpb wrote:
On 05/13/2017 8:31 PM, Leon wrote: ... Ironically when I visit the CC company and review my spending for the month the CC company actually marks certain purchases as possibly being eligible for a price match. With that marker there is a link to add the item to a list of items to be watched. You can either hunt for them and send in the documentation of let them do the looking. That is what happened on this GPS/Radio on the second credit. Yeah, it's all a bunch o' 'bots in the background...that part I grok. Absolutely. And I'm sure that price matching feature is considered a cost of doing business. I don't have accounts online so wasn't thinking of that interaction for the listing check box. Somebody will eventually wake up to the fact that once they've paid a match on a given item they've fulfilled their obligation and will close that loophole in the code... This is not really a new feature. I have heard of this benefit for many years maybe a decade or so. But! I never realized how easy it would be to take advantage of. When the CC company lists your monthly charges and actually points out possible eligible purchases it is even easier than I thought. The hard part is scanning a copy of the receipt and emailing the copy. Anyway, my card also offers limited time protection against merchants that will not take back and credit a purchase, up to $500. IIRC. And IIRC. There is limited protection against breaking a purchase. Now figure out a way to phake the matching data! -- Naaa, I don't want to fraud the CC company. |
#37
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Totally OT Drive By!
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#38
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Totally OT Drive By!
On 05/14/2017 7:58 AM, Leon wrote:
wrote: .... Now figure out a way to phake the matching data! Naaa, I don't want to fraud the CC company. Would _I_ even think of such a thing?! -- |
#39
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Totally OT Drive By!
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#40
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Totally OT Drive By!
On Sunday, May 14, 2017 at 9:05:00 AM UTC-5, Ed Pawlowski wrote:
On 5/14/2017 4:06 AM, wrote: My house is paid off and has been for years. My old beater truck was paid off 10 years ago. I carry very little personal credit and actually only have one personal credit card. When I checked my credit scores a couple of years ago, they were disappointingly low. I called the clearing house (TransUnion of Equifax) and they told me that it wasn't that I had bad credit, it was that I didn't have ANY credit history of recent vintage. My training in credit services was ringing in my ears. "The prospective client must be able to demonstrate the ability to repay along with a current and active history of timely repayment". My wife has a credit card in her name and gets offers for more. She has worked about 6 months in the past 51 years and has a credit score of 830. I believe it. Although is improved, there are a lot of inconsistencies in reporting. Also, you are married, no? If so, you have a combined credit score based on each other's activities whether their was mutual participation or not. The law looks at a married couple as one entity; so a spouse that purchases on credit will create a loan or charge that creates a mutual liability situation. So whether either of you have worked in he last few years or not, if you have demonstrated the ability to repay small loans (credit cards, vehicles, a boat, more credit cards, a yard shed, new siding on the house, a roof, student loans and a host of others) no doubt your MUTUAL credit scores will be high as your wife is tagged to your ability to repay (since you were obviously the primary earner). Think about it this way; if you divorce, all debt (let's not worry about ratios or clever attorneys) and assets are to be equally divided. This is because all credit/assets for a married couple is mutual; likewise, if you wife entered into debt without your knowledge and failed to repay (that sports car she always wanted!) it would ruin not only hers but your credit as well. But if all payments are made, and all is on time, then both share the benefits. Should that event occur though, if you were the primary (worse, only) wager earner for the married entity, she would be completely sunk because she is single (a new, legal entity)and cannot demonstrate the ability to repay. Robert |
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