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Author Topic: When you cancel a credit card, they beg you to stay  (Read 2704 times)
AmpEater
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April 30, 2011, 03:43:17 PM
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They say "is there anything I can do to retain you as a customer sir?" and then you say "no, not a damn thing".

And it makes you feel good. They had their chance, but remember those late-fees that they stacked on after charging just enough of a monthly "service charge" to make you bounce that payment you had enough in your account to cover the previous day.  Yeah you do. Fuck that

I've closed over 7 accounts in the last hour, credit, checking, savings, recurring hulu charges....it feels great
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BioMike
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April 30, 2011, 03:46:04 PM
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Savings account? I guess it was empty anyway.
AmpEater
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April 30, 2011, 04:04:08 PM
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Savings account? I guess it was empty anyway.

Ravaged for mining hardware long ago Smiley

Besides, I'm 25....if I had a savings account with money in it I'd be some sort of freak of nature.
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April 30, 2011, 04:14:15 PM
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Besides, I'm 25....if I had a savings account with money in it I'd be some sort of freak of nature.

Why? No plans for the future?

My parent learned me to save money if I wanted something and never buy stuff that is on loan (for a house is the only exception). In the end you ALWAYS pay more. Also stuff can break, having some money on a savings account allows you to buy a replacement (again without requiring a loan).
mewantsbitcoins
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April 30, 2011, 04:17:42 PM
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I am too contemplating closing all my accounts, but I can't find a way for two things: 1. how to receive wages from my employer, 2. how to get food with BTC. The day these two are possible, I'm out of this feckin system
AmpEater
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April 30, 2011, 04:33:18 PM
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Besides, I'm 25....if I had a savings account with money in it I'd be some sort of freak of nature.

Why? No plans for the future?

My parent learned me to save money if I wanted something and never buy stuff that is on loan (for a house is the only exception). In the end you ALWAYS pay more. Also stuff can break, having some money on a savings account allows you to buy a replacement (again without requiring a loan).

My plans for the future involve CNC tools, metal, CAD software, etc...all of which are expensive.  I can have money for no future, or no money and and ever increasing set of skills to leverage for income in the future.

And I don't agree that a house is acceptable to take a loan out on. A $100,000 mortgage ends up costing $350,000+ last time I ran the numbers in this area.  I'd rather live in a shack and save my pennies. 

My statement was really more of a cometary of the financial position of most people my age. $0 savings, $40,000+ in student loans is the NORM in my world.  And in yours, too, if you look at the numbers (for 20-somethings, anyhow...but nobody else is doing much better)
deadlizard
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April 30, 2011, 04:49:59 PM
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I was taught to save but luckily I figured out how to think for myself at a young age.
And I realised the only value cash had was what it could purchase. I've been cashing out my entire life.
and if I need cash I have plenty of valuable assets to liquidate. Wink

I've only ever been with a credit union. Never had or wanted a credit card. I think it's great people are finally getting sick of the banks. I couldn't imagine paying fees and charges to someone who is also earning interest on my money.

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AmpEater
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April 30, 2011, 05:18:15 PM
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I was taught to save but luckily I figured out how to think for myself at a young age.
And I realised the only value cash had was what it could purchase. I've been cashing out my entire life.
and if I need cash I have plenty of valuable assets to liquidate. Wink

I've only ever been with a credit union. Never had or wanted a credit card. I think it's great people are finally getting sick of the banks. I couldn't imagine paying fees and charges to someone who is also earning interest on my money.

I like everything you said Smiley  Everything I buy I think about liquidity, resale value, depreciation...and often I can own/use something for years and still get much of what I paid back out when I'm done by buying quality stuff.  It costs more upfront, sure. But only suckers buy cheap tools.

It's funny, I had grown up with parents in debt and always known that I had no use for a credit card. I held true to that for years but somehow a girl I was dating convinced me to get one, probably with some sort of "build up credit rating" argument.  Somehow 1 turned into 3 or 4, and no balance turned into a small balance. Then a big balance. LOL @ myself

I guess I like to learn things the hard way. At least I learn.
deadlizard
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April 30, 2011, 05:29:39 PM
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The only comparable thing that I've had happen is when I left my last internet provider.
called them up to close my account.
after 10 minutes of them begging me to stay I had enough and told them to shut my account and stop wasting my fucking time then hung up.
the next month they sent me another bill. Angry they wanted a large cancellation fee, but I wasn't on a contract.
....the next phone call was less pleasant

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BioMike
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April 30, 2011, 05:47:13 PM
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My plans for the future involve CNC tools, metal, CAD software, etc...all of which are expensive.  I can have money for no future, or no money and and ever increasing set of skills to leverage for income in the future.

Those are investments. If you're pretty sure you can get a good income from them you can use your savings for that (personally I wouldn't use 100% for that, but that depends on the situation and I think you are in a better situation to determine that Wink ).

Quote
And I don't agree that a house is acceptable to take a loan out on. A $100,000 mortgage ends up costing $350,000+ last time I ran the numbers in this area.  I'd rather live in a shack and save my pennies. 

True, only shacks are expensive here as well. My wife didn't want to live in a shack for another 4 years with me having a good income. We bought a house for the minimal mortgage (20 years with 5.2% interest fixed and subsidy for the first 5 years). This is very conservative mortgage, but I wanted maximum certainty .

Quote
My statement was really more of a cometary of the financial position of most people my age. $0 savings, $40,000+ in student loans is the NORM in my world.  And in yours, too, if you look at the numbers (for 20-somethings, anyhow...but nobody else is doing much better)

I'm 28, PhD student, paid back all my student loans and except for the mortgage no debts, 20k on a savings account/in stocks but some of that has to go, because we have to do some restorations on our house.
Ricochet
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April 30, 2011, 07:29:32 PM
 #11

I have a credit card for one reason only:  to build up credit, for when the time comes that I need to make a large purchase.  I only use it for things I would have otherwise used debit or cash for, and I pay it off in full every month. 

Works for me, at least.
RonnieP
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April 30, 2011, 08:32:59 PM
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2. how to get food with BTC. The day these two are possible, I'm out of this feckin system

Speaking of....I'm new here. What happened to bitlist? If I wanted to sell food grown in my backyard, It would seem a craigslist type place would be the best since it wouldn't be worth shipping rates for food. Is there a place people are listing food by location now?
mewantsbitcoins
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April 30, 2011, 08:37:07 PM
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2. how to get food with BTC. The day these two are possible, I'm out of this feckin system

Speaking of....I'm new here. What happened to bitlist? If I wanted to sell food grown in my backyard, It would seem a craigslist type place would be the best since it wouldn't be worth shipping rates for food. Is there a place people are listing food by location now?

As far as I'm aware https://en.bitcoin.it/wiki/Trade is the only listing of businesses that accept bitcoins. You can also try marketplace board. I'm sure if you are selling food, there would be a lot of people interested
RonnieP
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April 30, 2011, 10:11:48 PM
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You can also try marketplace board. I'm sure if you are selling food, there would be a lot of people interested

Won't it just get lost in the mix? Food is very location specific on the small scale, and people on the board live all over the world. My garden is kicking up, so I should have a few things for sale in a couple of months for sure. On another note, if you aren't too picky about your food, one way to avoid buying it with dollars is urban foraging. More plants are edible than you think!!
mewantsbitcoins
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April 30, 2011, 10:22:06 PM
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As this thread https://www.bitcoin.org/smf/index.php?topic=5869.0 suggests, food is the most sought after good. If you posted on the wiki trade page and here on the marketplace board I'm very confident people would buy it and it wouldn't get lost in the mix. That being said it would probably depend a lot on your location.
Unfortunately for me, my current location is London, UK  Sad
ShadowOfHarbringer
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April 30, 2011, 11:41:46 PM
 #16

They say "is there anything I can do to retain you as a customer sir?" and then you say "no, not a damn thing".

And it makes you feel good. They had their chance, but remember those late-fees that they stacked on after charging just enough of a monthly "service charge" to make you bounce that payment you had enough in your account to cover the previous day.  Yeah you do. Fuck that

I've closed over 7 accounts in the last hour, credit, checking, savings, recurring hulu charges....it feels great

That is expected.

This whole monetary system runs on debt. No wonder why the bankers want you (and everybody else) to stay so badly.

If everybody paid their debts instantly, there would be no money in the circulation, and the system would immediately collapse.

theymos
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May 01, 2011, 04:02:27 AM
 #17

I don't think the use of credit cards is inherently a bad idea. If you always pay off your debt, it's free money.

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ribuck
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May 01, 2011, 01:29:19 PM
 #18

In the UK you can get credit cards that pay you back 0.5% of all your purchases. I have one of those, which I pay off every month, so I never pay fees or interest, yet I get an annual rebate payment.
cypherdoc
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May 01, 2011, 02:11:11 PM
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Savings account? I guess it was empty anyway.

Ravaged for mining hardware long ago Smiley

Besides, I'm 25....if I had a savings account with money in it I'd be some sort of freak of nature.

haven't u heard?  FerBanke has sold everyone under the age of 30 down the river.  u will get to pay for my generations retirement (Baby Boomer).  isn't that exciting! Undecided Undecided
cypherdoc
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May 01, 2011, 02:14:33 PM
 #20

I was taught to save but luckily I figured out how to think for myself at a young age.
And I realised the only value cash had was what it could purchase. I've been cashing out my entire life.
and if I need cash I have plenty of valuable assets to liquidate. Wink

I've only ever been with a credit union. Never had or wanted a credit card. I think it's great people are finally getting sick of the banks. I couldn't imagine paying fees and charges to someone who is also earning interest on my money.

OMG, you got that right.  i'm lucky, i do have savings earnings 0% interest in the bank.  and they keep slipping more and more fees as if they had a right to do so.  i finally threatened to move my money and they backed off some of the fees.  i hate the ATM fees the most.  $2.50 for the other bank and another $2.50 for my bank.  extortion.
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