A lot of US citizens seem to be getting VERY annoyed with their country and fellow countrymen these days. I see a trend starting here, it's not big at the moment but bears watching closely. The next 1-3 years could be very interesting indeed.
How do you think this girl would have reacted if this lender said. We understand times are tough and were here to help. Letâs lower you min due back to 1.00% and reduce your rate to 5.99 for the next twelve months. Will this help you Mrs. Customer. That girl would bend over backwards to make that payment every month. Either banks want people to default, or the banks simply have no choice because they are in such terrible shape. But the stress test said everything was fine.
She was probably high risk- High balance, only paid the min monthly, and probably had a credit report which showed high balances across the board. Then she may have missed one payment, or was late, and this starts to trigger the red flag. She's a default waiting to happen. Having worked in the CC bizz for many years, I dealt with people like her all the time. Somehow many people always felt it was up to them to decide when they pay for the merch they took out of the store.
Who can blame her? Ordinary Americans, even savers and responsible ones, get the shaft (as yields on savings fall as a subsidy to banks), very few homeowners who are sincere in reworking their mortgages to try and save their homes can even get their lenders to call them back, and millions of people see themselves or family laid off, their nest eggs wiped out, and all the while, scumbag banks and financial institutions that played in the riskiest of areas such as Goldman Sachs and JP Morgan get an implicit 'too big to fail' stamp by the U.S. Government, this after they received hundreds of billions in direct and indirect (e.g. they were paid with taxpayer money when CDS counterparties couldn't otherwise pay them, such as AIG) taxpayer dollars, and once upon getting these unjustified and skewed bailouts, they "saw the light" and converted to bank holding companies (I'm looking at you, Goldman scum).
If you expect people to take anything you post as serious and intelligent, both as a trader and a human being, then you need to understand basic grammar and spelling OR claim English is your second language (and thus it is simply not your fault). That's just truth. When someone reads a post like that, and sees all the mistakes, the credibility of it goes to zero. Perhaps I'm the only one who thinks that way, but I doubt it. We're not talking about a typo here.
What is this thread. Idiot central? Like the average imbecile, she would simply charge everything else off on to her cards instead of making lifestyle changes. She should stop crying herself a river and move into mommas basement. NO ONE put a gun to her head and told her to use those cards. Credit is not a god given right.
Why as a moderator do you feel the need to make such critical remarks? This is a traderâs forum not an English class. If you donât agree with what was said I can understand that. The fact that you may have better grammar and punctuation skill does not make you more credible. For all I know youâre an x child molester who learned your skills in prison. Do you think that gives you credibility? If you lived in a pop up camper I wouldnât put you down for that. I also wouldnât put you down for having nothing better to do than moderate an intranet forum and not get paid for it.
Credit is not a god given right....Right on, tell that to the banks that got a bailout. Sheâs not crying, sheâs simply saying FU
She shouldn't be allowed to get away with "saying FU". If she doesn't like the new terms, she should terminate the card and pay off the balance under the prior terms. When you intentionally don't pay your CCs, that's no different than shoplifting or other thievery. She's just trying to LOOK righteous. She's an ass, and everyone who sympathizes with her is equally an ass.