NEW CREDIT CARD LAWS!!!

[RoyalBoyle78]

Re: NEW CREDIT CARD LAWS!!!

My gf's credit score is over 800. She can walk into a car lot and drive out with a H3 in about 15 minutes. Hell, credit card companies send her cards with 2 grand already on it. She just cuts them up and throw them away.

I had my score cheked out about 6months ago, I scored a 770

[mjb2124]

Re: NEW CREDIT CARD LAWS!!!

really?! have you checked your credit score? i hope its good, you could have been doing yourself injustice by clearing it every month. Plus check how your other interest rates for other things (car loans, mortgage) and see if you get the best interest rates, because if you aren't then you've been building incorrectly. hopefully you've done other things to help build your credit though besides a CC.

I don't recall what my score was exactly (high 700's). It's been 3 years since I bought my house and that was the only time I looked at my score. I never had a college loan and always paid off my CC card on time. With that said, I've had good interest rates on the only 2 times I've dealt with interest rates (car and house).

I bought a car 1 year after college and took out a 3 year loan and paid it off in that timeframe. I think my interest rate was 5%, but I'd have to check the paperwork since it's been so long ago. I bought a house 3 years ago and have a 4.75% interest rate on my mortgage.

[VanCitySportsGuy]

Re: NEW CREDIT CARD LAWS!!!

Most people that are in debt "because" of credit cards have nobody to blame but themselves. I've had a credit card for a long time now and I've always paid off everything at the end of the month. You simply shouldn't spend beyond your means. You don't even need to take a Marketing/Economics 101 class to know that.

One of the papers here did a feature on credit card debt and told a couple of stories. A common theme was poor people that have more than 2 credit cards. Those people that load up are idiots.

Personally I like paying almost everything with my credit card. I recieve a choice of gifts when I spend a certain amount.

[blazersin2k3]

Re: NEW CREDIT CARD LAWS!!!

yea i always pay my cards on time and in full, there really should be no excuses.

[ehh]

Re: NEW CREDIT CARD LAWS!!!

yea i always pay my cards on time and in full, there really should be no excuses.

As do I, that crap adds up way to fast if you don't pay your full bill every month. I have a 22% rate right now, so I don't really have a choice.

[RoyalBoyle78]

Re: NEW CREDIT CARD LAWS!!!

the best part about this whole thing, I never recived one notice about this from any of my credit card companys, isn't that against the law or somthing not to tell the customers about a change.

[ExtremeGamer]

Re: NEW CREDIT CARD LAWS!!!

the best part about this whole thing, I never recived one notice about this from any of my credit card companys, isn't that against the law or somthing not to tell the customers about a change.

I gurantee you that you got notice. That multiple page pamphlet thing that comes with your bill every few months explaining the terms, it was in there. I got notification of it back in October.

[RoyalBoyle78]

Re: NEW CREDIT CARD LAWS!!!

I gurantee you that you got notice. That multiple page pamphlet thing that comes with your bill every few months explaining the terms, it was in there. I got notification of it back in October.

I swear to you I got nothing, no need to me to lie.

[ExtremeGamer]

Re: NEW CREDIT CARD LAWS!!!

I swear to you I got nothing, no need to me to lie.

Well, then your credit card companies must not send you stuff. I get those pamphlets every few months.

[RoyalBoyle78]

Re: NEW CREDIT CARD LAWS!!!

Well, then your credit card companies must not send you stuff. I get those pamphlets every few months.

I guess not....that sux..

[RoyalBoyle78]

Re: NEW CREDIT CARD LAWS!!!

well that answers why I got nothing, I have a Discover account, and I just got off the phone with a Rep, she told me that my account is not being affected by the new Law, she also said if there is going to be a change I will be contacted. She also said that she doesn't think my card will be affected at all. This is good news, I mean it;s not like I owe $5,000 or anything anyway.

[Heelfan71]

Re: NEW CREDIT CARD LAWS!!!

well that answers why I got nothing, I have a Discover account, and I just got off the phone with a Rep, she told me that my account is not being affected by the new Law, she also said if there is going to be a change I will be contacted. She also said that she doesn't think my card will be affected at all. This is good news, I mean it;s not like I owe $5,000 or anything anyway.

you sure seemed awfully concerned about something that doesn't affect you one bit. Since you already pay above the minumum, and you are not in debt.

[RoyalBoyle78]

Re: NEW CREDIT CARD LAWS!!!

you sure seemed awfully concerned about something that doesn't affect you one bit. Since you already pay above the minumum, and you are not in debt.

I know...lol. I just wanna know why if it's a Law now why it's not affecting me, I'm not complaing ofcourse, just wanted to know. Oh well.

[Lintyfresh85]

Re: NEW CREDIT CARD LAWS!!!

Geeze I'm concerned about credit cards, but then again I'm trying to follow the rule that I only buy what I can with cash, and if I can't pay for it with cash, then I don't buy it.

[bkrich83]

Re: NEW CREDIT CARD LAWS!!!

We have a couple of high limit cards. We don't use them much except for emergencies. I pay cash or use my debit card for about 90% of my purchases.

Only real debt we have is on the two cars and the house. I'd like to keep it that way. As far as using credit to get a higher score. I've read that. The credit reporting stuff is confusing. However, despite the fact we don't have much debt, we have no problem getting A-paper loans on auto's and houses. Maybe gross household income kicks in. I have no idea.

I just sleep easier at night knowing I don't have a ton of debt out there.