Easy credit

Bikerscum

Active Member
#1
I got out my pressure washer the other day only to find out it bit the dust after only 15 years. POS. lol

So I did my research & settled on one by B&S that had a feature no others had... 5gpm 400psi spray setting. I want that for hosing off my solar panels.... it shoots a 30'+ low pressure stream. And the engine is made in America as a bonus.

Anyway, it's only sold at Lowes, so off I go. I get there fully intending to pay cash, but see that if I get a Lowes credit card I neither want nor need I can get 10% off a purchase.... that's $40 in this case. Ok, sign me up. I'll get the PW, pay the bill when it comes in, & cut up the card.

So I go to the customer service counter & explain my situation. The nice lady asks for my driver's license, and asks if I rent or own. Own, I say, & she says to answer the questions on the PIN pad.

Social security number, annual income, mother's maiden name. Done, approved for $3000, more if I want it. All on the PIN pad. I'm old enough to remember filling out a credit application & waiting days for an answer.

I have to wonder if this easy credit isn't part of what's wrong with this country... the younger generation's see it, want it, buy it entitled attitude. And figuring out how to make the payments later. The store makes it just too easy.... and with a 24.99% interest rate & $35 fee for late payments. I can see how people quickly get in over their heads.
 

catfishman

Active Member
#5
You are right on bikerscum, before me and my wife were married, she racked up credit cards out the wazzoooo, her grandparents bailed her out. No lesson was learned by that, she turned right around and did it again, and eventually filed bankruptcy. This has been many years ago, and years later I find out she had more credit cards, I blew a head gasket, and was ready for a divorce. Now she is down to 1, and it has been cut up. We have always kept our money seperate, so she didnt understand why I was so mad, I just didnt want to be with someone that owes everyone, and keeps getting deeper and deeper in debt. Now my step daughter is following in her tracks, not my problem, cause she is 24 and lives with her boyfriend, but I told him the other night, he better get a handle on it. I only have 1 credit card, and owe nothing, I never had a checking account, only savings, and pay my bills with money orders, works for me, has for many, many years.
 

45t

Well-Known Member
#8
Credit card companies don't make money off of people that are responsible with their money. They like people with not so great credit carrying over balances and applying the higher interest rates to the balance carried over. They want you to get in deep enough so it can make them more money. Credit cards can be helpful, but you need to pay the balance off (zero balance) each month and not carry over any balances. Also just because you have a credit limit, does not mean you should spend up to that limit. I've seen a lot of people get into the credit card trap and it usually ends up with bankruptcy.
 
#9
Almost seems un-American but I never had a credit card in my life, never applied for one. Haven't had a car payment since 1987. Last mortgage '07. Big spender that I am, I paid CASH for all my minibikes. I have a PayPal account that's coming up on some kinda limit they set to not have it attached to my bank account. :censure:payPal they're not gettin shit!:smile:
 

Bikerscum

Active Member
#11
Almost seems un-American but I never had a credit card in my life, never applied for one. Haven't had a car payment since 1987. Last mortgage '07. Big spender that I am, I paid CASH for all my minibikes. I have a PayPal account that's coming up on some kinda limit they set to not have it attached to my bank account. :censure:payPal they're not gettin shit!:smile:
I hit that limit thing with PayPal a while back... I think it's $10,000 :eek:hmy: then they want you to link it to a bank account. I just opened a separate checking account at my bank & put a couple hundred dollars in it & used that. I can transfer money in & out of it as needed, & the most anyone could hack it for is a couple hundred.
 
Top