thoughts on credit card crisis????

[glovesetc]

Any thoughts on when credit cards are going to blow up ? The average credit card has an annual percentage rate of near 18.9% on average . Considering most people are buried in credit card debt due to whatever reason you might wander if that will be the next implosion . People can not re-fi their houses to pay them down like they did several years ago as they are probably upside down in their home mortgages anyhow . With such high interest rates these people are lucky to make the minimum let alone off the principal debt . Sad that they got into this situation but hey you NEED to live within your means .I read about people all the time having credit card bills of 10K and up !!!!! Some people even have them as high as 60K and they have no hope in my opinion .

[ccibball50]

Originally Posted by glovesetc

Any thoughts on when credit cards are going to blow up ? The average credit card has an annual percentage rate of near 18.9% on average . Considering most people are buried in credit card debt due to whatever reason you might wander if that will be the next implosion . People can not re-fi their houses to pay them down like they did several years ago as they are probably upside down in their home mortgages anyhow . With such high interest rates these people are lucky to make the minimum let alone off the principal debt . Sad that they got into this situation but hey you NEED to live within your means .I read about people all the time having credit card bills of 10K and up !!!!! Some people even have them as high as 60K and they have no hope in my opinion .

Well more people better start counting cards in blackjack to pay off their credit cards,

[glovesetc]

with credit card money you are a loser already my friend . I can not believe anybody drawing breath could be that stupid but then again you never know what desperate things people might do in desperate times I guess .

[Guynoire]

Originally Posted by ccibball50

Well more people better start counting cards in blackjack to pay off their credit cards,

I thought of that scam too. Get one of those credit cards that advertise no interest for 1 year, borrow 100K and use it as a bankroll. It doesn't work though, if you read the fine print they won't give you cash.

[glovesetc]

and tell people if they have cash you will buy the items put them on your credit card and give them 10% off. You should be able to get 100k in a matter of days !!!!!!

[aslan]

Originally Posted by glovesetc

and tell people if they have cash you will buy the items put them on your credit card and give them 10% off. You should be able to get 100k in a matter of days !!!!!!

Are you encouraging gross misbehavior, gloves? Maybe, it would work if the government would bail us out if we get in trouble! lol

Not a chance! Bailouts are for the rich and privileged. Jail for everyone else! (They used to call it the poorhouse in old England, didn't they?) And by rich, I don't mean a few measly million dollars--I'm talking about REAL money! FAT CATS!!!

[zengrifter]

Originally Posted by glovesetc

with credit card money you are a loser already my friend . I can not believe anybody drawing breath could be that stupid but then again you never know what desperate things people might do in desperate times I guess .

Nothing wrong with expert count-plat usining CCs for short-term BR augmentation. zg

[glovesetc]

I guess perhaps but the better method is take plenty of money with you and forget using a credit card . Just my opinion unless you want to carry no cash and when you get to the casino use the card to deposit say $50,000.00 in the cage ! That is the only time i could see using a CC but that is me .

[aslan]

Originally Posted by zengrifter

Nothing wrong with expert count-plat usining CCs for short-term BR augmentation. zg

Short-term BR augmentation! Don't even experts have bad times? Borrowing to gamble? I don't know, zg. Doesn't sound like sound business practice to me, especially considering only a long-term advantage of only 1% to 2%. That's cutting it pretty close, seeing as you will have to start making minimum payments including interest at month end. If you're paying an initial 2% on the credit card loan, that's going to cut into your profits as well. Also, I'm guessing there are short-run possibilities of serious losses. I wouldn't be inclined to do it, unless you're talking about those times when you can't make it to the bank--that's a different story entirely.

[glovesetc]

As I stated before you never gamble with money you need. Best way to do it is cash only or bank check as well in my opinion . If you are using a CC to gamble you need to call 1-800-GAMBLER immediately and set up extensi8ve psycho-therapy .