tag:blogger.com,1999:blog-8662171249638416805.post2542554816042886413..comments2024-03-16T05:34:13.675-07:00Comments on The Commercial Curmudgeon: The Class War is Over. I Lost.John F Jamelehttp://www.blogger.com/profile/18351383534436377360noreply@blogger.comBlogger13125tag:blogger.com,1999:blog-8662171249638416805.post-32467431285626796652011-08-25T07:44:55.079-07:002011-08-25T07:44:55.079-07:00Your credit score is a huge part of how lenders de...Your credit score is a huge part of how lenders detirmine your interest rate. For example...<br /><br />If the best interest rate is offered to people with a credit score above 700 and mine is say 698, those 2 points could cost me thousands of dollars. According to FICO the interest rate difference between those two scores is about 1/3 of a percentage point. On a $170,000 30 year fixed rate mortgage that 1/3 of a point will cost me about $12,000. This is just an example because all lenders have different breaking points. Some are 700, others are 690. <br /><br />Using credit to increase my score is a very convoluted process. Each of the three major credit bureaus have different criteria to increase your score. TransUnion likes you to use your card just a little bit and pay it all off as quickly as possible but Experian likes you to have a higher balance and pay it off over time. Usually I dont care what my score is but this is one time where it makes a huge difference. With a little work I can save myself a lot of money. If I didnt have a few cards to deal with I would really cost myself in the long run.thepapershttps://www.blogger.com/profile/15671018463903866136noreply@blogger.comtag:blogger.com,1999:blog-8662171249638416805.post-77045121329479843292011-08-24T04:09:08.982-07:002011-08-24T04:09:08.982-07:00Actually, you mention "credit score" THR...Actually, you mention "credit score" THREE times. I think you have been taken in by the stupid commercials which suggest that it's the be all and end all of the economy.John F Jamelehttps://www.blogger.com/profile/18351383534436377360noreply@blogger.comtag:blogger.com,1999:blog-8662171249638416805.post-69036443363062086702011-08-24T04:07:10.101-07:002011-08-24T04:07:10.101-07:00Twice in your post, you mention your "credit ...Twice in your post, you mention your "credit score." The ONLY thing that your credit score tells people is that you have borrowed before, and to what extent you were able to reliably pay back your debt. Now, if you want to borrow half a million dollars and you tell your bank that you've never used credit cards, but because you've never been in debt you have a LOT of money saved, my guess is that the bank finds that pretty impressive, too.<br /><br />Increasing your debt in order to show people you are a good risk- in the long run, that just doesn't make a whole lot of sense to me. My guess is that Dreaded simply PREPARES for emergencies by SAVING MONEY. I know, it's a very old-fashioned idea, and it will do nothing to "improve the credit score," but it's amazing how low the interest rate is when you have no debt.John F Jamelehttps://www.blogger.com/profile/18351383534436377360noreply@blogger.comtag:blogger.com,1999:blog-8662171249638416805.post-63008906571922081672011-08-23T23:00:32.897-07:002011-08-23T23:00:32.897-07:00Dreaded....
You dont have a credit card? That see...Dreaded....<br /><br />You dont have a credit card? That seems crazy to me. What happens if your car breaks down and its a $2,000 transmission replacement? What if your hot water heater blows? Pipe bursts? You need to have at least one card in case something like this happens. It also helps you control your credit score. I am planning on buying an apartment closer to work and friends. I am using my credit cards to improve my credit score by a few points. That may not sound like a lot but on a $500,000 loan in can mean a difference of thousands of dollars. Without my cards I would have no way to directly control my credit score.thepapershttps://www.blogger.com/profile/15671018463903866136noreply@blogger.comtag:blogger.com,1999:blog-8662171249638416805.post-8957645006683760852011-08-19T16:33:44.302-07:002011-08-19T16:33:44.302-07:00You think that's bad, try paying off a dead ma...You think that's bad, try paying off a dead man's credit card debt; I had to do that because my father didn't think that he needed to pay the damned thing off before he died. As a result, I have no interest in getting one of the blasted things.DreadedCandiru2https://www.blogger.com/profile/15561460498807276057noreply@blogger.comtag:blogger.com,1999:blog-8662171249638416805.post-71330675824702604332011-08-19T14:35:29.107-07:002011-08-19T14:35:29.107-07:00I use my credit card for car repairs and plane tic...I use my credit card for car repairs and plane tickets, period. If I don't have the cash to buy something, it doesn't go in the cart. I eat cereal for dinner several nights a week, and walk everywhere to save gas money. I don't want to work forever, and it's kind of hard to build a nest egg when you are forever paying down credit cards, regardless of what some of these commercials tell you about "helping you save."John F Jamelehttps://www.blogger.com/profile/18351383534436377360noreply@blogger.comtag:blogger.com,1999:blog-8662171249638416805.post-77746765712285185072011-08-19T14:25:49.640-07:002011-08-19T14:25:49.640-07:00I quit cold-turkey.
It was rough. And the "...I quit cold-turkey. <br /><br />It was rough. And the "10 things your random professional never tells you"... don't forget that.Pahzhttps://www.blogger.com/profile/12877861050356247528noreply@blogger.comtag:blogger.com,1999:blog-8662171249638416805.post-7624195336624016962011-08-19T04:47:23.001-07:002011-08-19T04:47:23.001-07:00Pahz, I think I had the opportunity to redeem mine...Pahz, I think I had the opportunity to redeem mine for a pen and notebook set. I didn't bother. <br /><br />The bad thing about a one-year subscription to "Reader's Digest" is, by the end of that one year you are basically obligated to renew it, because once you've had a year of "World's Dumbest Criminals," "Why we hate lawyers," and "Amazing Tales of Strength and Faith," how could you possibly ever give it up?John F Jamelehttps://www.blogger.com/profile/18351383534436377360noreply@blogger.comtag:blogger.com,1999:blog-8662171249638416805.post-56815912244773629512011-08-19T04:39:49.965-07:002011-08-19T04:39:49.965-07:00Off the top of my head, I can't remember what ...Off the top of my head, I can't remember what kind of credit card is in my wallet. But I can tell you that we've used it enough to get something with the reward points. <br /><br />A one-year subscription to a magazine. I chose <i>Reader's Digest</i>. Yeah. You can see I'm living the high life now, can't you? <br /><br />Sometimes, I read the month's issue all the way through and sometimes I skim through it and mark the pages I want to come back to later. <br /><br />Jealous, aren't you?Pahzhttps://www.blogger.com/profile/12877861050356247528noreply@blogger.comtag:blogger.com,1999:blog-8662171249638416805.post-63025638520145583572011-08-18T23:06:11.545-07:002011-08-18T23:06:11.545-07:00I actually just got one of these cards. Mine looks...I actually just got one of these cards. Mine looks exactly like the card on the commercial except it is "Thank you Preferred" as opposed to the "Thank you premier". Not sure what the difference is. I logged onto the points website and searched all over for this rock and roll camp but it does not exist. There is a section called "Travel and Experiences" but all that consists of is plane tickets and cruises. It doesnt seem like I will earn points any faster on this card than any other in my wallet. Honestly all I can get at this point is that Bed, Bath and Beyond gift card...<br /><br />Now onto the commercial. My most hated part outside of the nazi wife narrator is the part where he high fives the other nerds who back in high school would get picked on by the "camp director"thepapershttps://www.blogger.com/profile/15671018463903866136noreply@blogger.comtag:blogger.com,1999:blog-8662171249638416805.post-33363106559648416032011-08-18T20:29:46.958-07:002011-08-18T20:29:46.958-07:00The rich have it so tough -- aside from the minor ...The rich have it so tough -- aside from the minor inconveniences, the unwashed, lazy masses are sick of them making out at our expense. Although you'd never know it by watching the mainstream media1st Republic 14th Starhttps://www.blogger.com/profile/15527557395529372165noreply@blogger.comtag:blogger.com,1999:blog-8662171249638416805.post-20061014838089849312011-08-18T20:23:31.677-07:002011-08-18T20:23:31.677-07:00Exactly- what really ticks me off about all these ...Exactly- what really ticks me off about all these ads is that if you can spend enough on your damn credit card to accumulate this many points, is there any doubt that you could just use that fricking card to BUY this crap WITHOUT the points? Citi, don't sell me on the idea that without your "Thank You" points, the Fantasy Camp would be "out of reach"- clearly, NOTHING is out of reach for these spendthrift jackasses. And another good point- this guy has no idea which side of the guitar is Up- what the hell is he doing going to Rock and Roll fantasy camp? Well, obviously- for us proles, GUITAR LESSONS might be a decent investment. But if you are one of the Beautiful People, you skip the lessons and go right to Fantasy Camp. When it's over, he'll have a lot of great photos, great memories- and no idea how to play a musical instrument, but who cares? There's money to be spent!John F Jamelehttps://www.blogger.com/profile/18351383534436377360noreply@blogger.comtag:blogger.com,1999:blog-8662171249638416805.post-86315094866308904532011-08-18T19:48:41.399-07:002011-08-18T19:48:41.399-07:00I've been waiting for this one. From that ope...I've been waiting for this one. From that opening guitar twang, I can't get the mute button mashed quickly enough. The goofy look on the face of this jackanape says it all -- "My money has done it again". "My life is a deserving wonderland."<br /><br />That had to be a lot of spending, to get those kind of points, eh? It was either this or a weather balloon.<br /><br />Yes - he's a camper. He is role playing, like some wealthy scavenger hunt from the 1920's. He's the little boy off to rough it in the mansion of the stars, whoever they are. What's missing in this would-be rock-and-roll king's retinue is any talent at all. He's a nobody -- a zero. Isn't it amusing how this fellow can't play his instrument "s'like that"? I think they should tattoo him up and down; Make the fantasy complete.<br /><br />It's quite true that Citibank has interest, apparently, only in people who can rack up enough Thank You points to buy either a frivolous fantasy camp stint, seats from Shea Stadium, or a freaking weather balloon. I don't see any ads for "Larry, who decided to spend his points on a $50 gift certificate to Bed, Bath, and Beyond", but that is what most of us will get.<br /><br />The ad is really more about money itself. You know, you can earn money and spend it on just about anything. I'd like to earn enough to be able to spend enough to be able to earn enough points to have these Citi commercials erased from memory. I'm sure Citi's target customers could, ironically, afford it easily.Jameshttps://www.blogger.com/profile/15565030682360603009noreply@blogger.com