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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: orkrious who wrote (26887)	2/21/2005 5:24:11 PM
From: benwood	Read Replies (1) \| Respond to of 110194

I agree in the risk issue, but I've buried a payment before and missed it. My repayment risk has not moved altered iota, but under those cardholder agreements, I could (if I carried the typical revolving debt) pay $100 or more extra interest per month. Keep in mind you can make your payment ON THE DUE DATE and still get slammed, because the due date on many cards is 10:00 AM, often on a Sunday or Holiday. Many of the new agreements say they can look backwards through your credit history for years looking for a trigger. I've been 10 days late for my utility payment a bunch of times out of laziness -- there's no late fee for months. I missed a payment once last year due to paper clutter on my desk, and ironically, I inadvertently took advantage of a Nordstrom skip-a-payment offer that month. I just lucked out. Most people's objections here aren't related to your tough sh*t you lived beyond your means empathy, but instead because we (probably everybody on this forum) lives within our means and can have that occasional late payment because of whatever reason dished out by life that month and it's seems reprehensible to most of us to pay not only late fees and penalties on the card where we messed up (deserved that one time for that one card) but possibly vastly escalated interest rates on every other freakin' card we carry. One doesn't need to be living beyond one's means to recognize robbery.

To: orkrious who wrote (26887)	2/21/2005 6:17:06 PM
From: patron_anejo_por_favor	Respond to of 110194

<<Although I do think that changing interest rates based on payment history is often inappropriate, in general I have little sympathy for people who get over their head in debt.>> Pretty good point....if I miss a payment to the water company, it ain't gonna hurt, 'cause I don't run balances on any revolving credit...if you do, yer nutz and would be better off burning all yer cc's and paying cash or debit card for everything.<NFG> Still the credit card vultures are all swine, so I can't really take their side, either, and I really hate the Clowngress serving as their collection agents.<NG>