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[WFP]

So,

I was reading something that said that the Credit Card companies consider me a DEADBEAT since I pay off my full balance each month and on top of that get cash back at the end of the year ($1750 this year).  I have not had to carry a balance for several years so I never really paid much attention to the details of the agreements.  When I need to float myself a short term loan, the HELOC has helped me out...like when I had to buy the new bike in AZ.

I started to read one of these agreements and am amazed at the GALL these guys have should you not be able to pay off balances each month and worse, if you do not keep up with the details of the payment requirements, things like:

• They will raise your interest rate if something changes on you credit score...even for purchases already processed.
• They will pay down the balance of the amount owed on the part that has the lowest APR FIRST!
• Payment has to be received by 1159am on the due date...any later and it is next day
• Over Credit/Late Payment/other penalties are astronomical
• You need to be a CPA to understand the calculation of the interest rate

I hope I am always a DEADBEAT given these agreements!

/Bill

[SBB]

Well Bill, we are just two deadbeats going thru life having a great time!
Cash talks B/S walks!

 

[miker]

Me Three! 

[SBB]

And FYI,

I like Chrome Cash!

 

[Coolbreeze]

And they beat up your credit score for not owing enough money!!!   WTF!   (that one amazed me...)   

[miker]

Well, I lied, I carry a tab at several ....ummm...places I frequent...I clear them up when I hit, errrrr. Monthly.

[iski]

No credit card balances for 20 years or more.

I charge lots of stuff on several cards, pay off each balance every month, and get some type of free crappola from all of them or free travel or money back.

[Rooster452]

I'm a DEADBEAT for sure! I'd rather keep Harley industry alive.

[Fired00d]

Deadbeat and proud of it ..... Learned the hard way.

 
Ride Safe,
Fired00d
 

[Gettinold]

I thought a "deadbeat" was one that does not pay ones debt., a loafer, a lazy person. Not fulfilling ones obligations. What card company was that. I'll max it out on chrome and report it stolen.   

[grc]

What we tend to think is behavior that would generate an excellent credit rating is in fact bad behavior in the eyes of the credit industry.  People that pay off the debt rather than just pay the vig interest aren't allowing those companies to generate the massive profits they deserve.  I hope you know that you are probably denying some executive's kid a new yacht.

Have never had a balance on a personal credit card, and never intend to in the future either.  Ever since our government threw out the usury regulations back during the period of high inflation in the 70's, you could actually get a better deal from the local loan shark than you could from a credit card company.  The fact that they are still allowed to charge the usurious rates that were approved when inflation was in the teens speaks volumes about how much your government cares about the little guy.  And in case you wondered how they can afford to preapprove every Tom, Dick, Harriet, pet dog, and terrorist, it's all figured into the rates.  They charge the merchants about 3% on average for the privilege of accepting their cards, and then nail the cardholders with the 18-29% heavy duty rates.  That's enough money to cover all the losses generated by handing cards out to real deadbeats and still leave enough for junior's yacht.

Jerry

[tompen]

I'm a major DB by that description. I have had issues with the Bank One HD VISA charging me late payment and intrest fees. I always pay it in full. Seems they now call it due in 20 not 30 days. The first time I sent a note and it was taken care of. The second time I called and was told that they tell customers to allow 10 days for the mail. They are in Texas and I am in NY. I asked her how I could get my payment to them if the mail could take 10 days each way and I have 20 days. I'm sorry to say I did have to help her add 10 + 10. They want to get a routing number so they can direct draft my checking account. NOT GOING TO HAPPEN. I told her I will send the check the day after I get the statement and if I am ever charged again, they will get all the service charges and the card (shreded) and I will have requested any Chrome Cash due. I don't pay interest, but I average $1,500 a month and the vendors all pay 1.5 to 3.5% on the purchase. Dead Beat my A**.

[JCZ]

Deadbeat and proud of it ..... Learned the hard way.

 
Ride Safe,
Fired00d
 

Me too.  But having belonged to the school of hard knocks.....I had to go through it twice in my younger years, before I woke up and realized that wasn't the way to get ahead.  With the economy being what it is, coupled with the unemployement rate being what it is......I'm damn glad I've got 0 balance! 

I do tap into my signature line of credit from time to time, for major purchases.....but that's it.

[Hugh Janis]

I plan of being a dead beat soon. (I put my timeshare on a credit card, hey it made sense at the time)

[screaminchickensrule]

YES IM A DEADBEAT ALSO I DON'T EVEN HAVE A CREDIT CARD... BUT I HAVE NOTICED THAT SOME OF YOU ARE SAYING THAT YOU PAY OFF YOUR BALANCES AT THE END OF THE MONTH AND STILL RECIEVE CASH BACK AT THE END OF THE YEAR... WHICH ARE THE COMPANIES DOING THIS?  DID YOU KNOW IN MISSOURI IF YOUR CREDIT SCORE IS BAD YOUR CAR INSURANCE GOES UP... B/S