Please let us give you money

Blackmask · 08-19-2006, 10:39 PM

I'm going through my mail for the week and I have a heap of nice caring banks offering to give me money by way of credit cards. One is offering to increase my credit limit to $9000 on a card I already have. A bank I've never been at is offering me a Mastercard with a $25,000 limit and another offering me a Mastercard with a $15,000 limit.

All up these kind hearted banks are offering me the opportunity to be able to go into debt up $49,000. Sounds too good to be true, there must be a catch.

Who else here gets these kind offers of debt creation from banks? Do you think this kind of soliciting is totally irresponsible on the banks part or is it just business and if people are foolish enough to go into that kind of debt it's their own fault?

08-19-2006, 10:45 PM

when i was under the age for getting a credit card, id get offers regularly. I could have been swimming in platimum cards by the time I was 17. My overdraft has been a 4-figure digit for about 2 years now (not to mention the 5-figure student debt) and funnily enough, the banks arent a-calling as much anymore...

**open32** · 08-20-2006, 12:14 AM

I got my first credit card at 15, 200 dollar limit, there is no age limit to get one, just the bank has to take the risk that kids dont really have to pay them back.

I have 3 cards, I have one card right now with a 37,000 credit limit, which might be a fluke the others arnt that high. I could buy a Lexus on it (Not that I'd have a chance in hell of paying it back). And I get constant things in the mail for more.

From a business point of view its not stupid for the banks, people will try to pay off huge debts before declaring bankruptcy, and for those few that do, the banks are willing to take the loss.

People have more debt today then ever before (and less savings then in the past), has a lot to do with how easy and cheap it is to get debt, and its not just credit cards that are making it easier. Second mortgages and something pretty new called a reverse mortgage are becoming very popular. With increasing costs of living and social security collapsing in the US, this is probably going to be a big problem in the future.

People do have to have responsibility for what they buy and how much they spend. The banks job is to conduct profitable business, so not its really not there fault.

edawg99 · 08-20-2006, 12:26 AM

My credit card is Maxed out. I owe like 3 grand.

**Val** · 08-20-2006, 01:32 AM

I'm poor!

My VISACARD gives me 17000 reais for credit ... more or less 8250 dollars.

Samson The Cat · 08-20-2006, 02:07 AM

My giro account has a maximum credit of 600 euro. And here's the good stuff: I don't need it.

**open32** · 08-20-2006, 02:53 AM

I use a credit card for just about everything, almost never use cash.

Credit cards are the most dangerous to keep long term debt on. If you have any way, even if its taking out a bank loan to do it, get rid of the debt on the credit card.

**Val** · 08-20-2006, 03:32 AM

Talking in this way, I think you're very rich Rory.
Could you lend me some money?

**open32** · 08-20-2006, 03:38 AM

Ya right. Like mentalist I have also 5-figure student debt which is still growing.

solo1 · 08-20-2006, 05:40 AM

I think it's irresponsible to let internet or telephone companies offer "unsecured loans of up to £25,000 - even if you had a bad credit history!!" on daytime television.

**Jocasta** · 08-20-2006, 05:52 AM

I used to get a lot of that junk mail, offering me thousands then I bought a car using the manufacturer's finance company, now I get a helluva lot!

darko. · 08-20-2006, 06:47 AM

you never give me your mooooneeeyyyy

**Bill5461** · 08-20-2006, 08:00 AM

I get about 3-4 offers a week. I don't think they like me very much, I always pay them off monthly. It's more of a convenience so I don't have to carry cash

solo1 · 08-20-2006, 10:53 AM

I keep getting people offering me loans on the email. And viagra. Bastards.

Keri · 08-20-2006, 07:47 PM

Quote:

Originally Posted by solo1

I think it's irresponsible to let internet or telephone companies offer "unsecured loans of up to £25,000 - even if you had a bad credit history!!" on daytime television.

Especially where Vorderman is involved

solo1 · 08-21-2006, 03:27 AM

Vorderman! Isn't there any way to get rid of her?

BlackWolf · 08-21-2006, 10:24 PM

Quote:

Originally Posted by darko.

you never give me your mooooneeeyyyy

Wow, I never would have pegged you for a Bad Co. fan Darko.

solo1 · 08-22-2006, 04:02 AM

From Bad Company's "Abbey Road".

BlackWolf · 08-22-2006, 11:09 PM

AH, yes, quite right, sorry. Was think of a very similar line from "Run With The Pack".

08-19-2006, 10:39 PM	#1 (permalink)
Blackmask Protector of Inanity Join Date: May 2002 Location: Australia Posts: 6,158 My Profile	Please let us give you money I'm going through my mail for the week and I have a heap of nice caring banks offering to give me money by way of credit cards. One is offering to increase my credit limit to $9000 on a card I already have. A bank I've never been at is offering me a Mastercard with a $25,000 limit and another offering me a Mastercard with a $15,000 limit. All up these kind hearted banks are offering me the opportunity to be able to go into debt up $49,000. Sounds too good to be true, there must be a catch. Who else here gets these kind offers of debt creation from banks? Do you think this kind of soliciting is totally irresponsible on the banks part or is it just business and if people are foolish enough to go into that kind of debt it's their own fault?

08-20-2006, 12:14 AM	#3 (permalink)
open32 Administrator Join Date: Dec 2004 Location: South Florida Posts: 7,821 My Profile	I got my first credit card at 15, 200 dollar limit, there is no age limit to get one, just the bank has to take the risk that kids dont really have to pay them back. I have 3 cards, I have one card right now with a 37,000 credit limit, which might be a fluke the others arnt that high. I could buy a Lexus on it (Not that I'd have a chance in hell of paying it back). And I get constant things in the mail for more. From a business point of view its not stupid for the banks, people will try to pay off huge debts before declaring bankruptcy, and for those few that do, the banks are willing to take the loss. People have more debt today then ever before (and less savings then in the past), has a lot to do with how easy and cheap it is to get debt, and its not just credit cards that are making it easier. Second mortgages and something pretty new called a reverse mortgage are becoming very popular. With increasing costs of living and social security collapsing in the US, this is probably going to be a big problem in the future. People do have to have responsibility for what they buy and how much they spend. The banks job is to conduct profitable business, so not its really not there fault. Last edited by open32 : 08-20-2006 at 12:15 AM.

08-20-2006, 03:38 AM	#9 (permalink)
open32 Administrator Join Date: Dec 2004 Location: South Florida Posts: 7,821 My Profile	Ya right. Like mentalist I have also 5-figure student debt which is still growing. Last edited by open32 : 08-20-2006 at 03:47 AM.

08-19-2006, 10:45 PM	#2 (permalink)
He's a mentalist Posts: n/a	when i was under the age for getting a credit card, id get offers regularly. I could have been swimming in platimum cards by the time I was 17. My overdraft has been a 4-figure digit for about 2 years now (not to mention the 5-figure student debt) and funnily enough, the banks arent a-calling as much anymore...

08-20-2006, 12:26 AM	#4 (permalink)
edawg99 Senior Member Join Date: Aug 2005 Location: Canada Posts: 8,583 My Profile	My credit card is Maxed out. I owe like 3 grand.

08-20-2006, 01:32 AM	#5 (permalink)
Val Gear Heads Moderator Join Date: Apr 2004 Location: Brazil Posts: 8,156 My Profile	I'm poor! My VISACARD gives me 17000 reais for credit ... more or less 8250 dollars.

08-20-2006, 02:07 AM	#6 (permalink)
Samson The Cat currently without DSL :-( Join Date: Nov 2002 Location: Thuringia Posts: 2,284 My Profile	My giro account has a maximum credit of 600 euro. And here's the good stuff: I don't need it.

08-20-2006, 02:53 AM	#7 (permalink)
open32 Administrator Join Date: Dec 2004 Location: South Florida Posts: 7,821 My Profile	I use a credit card for just about everything, almost never use cash. Credit cards are the most dangerous to keep long term debt on. If you have any way, even if its taking out a bank loan to do it, get rid of the debt on the credit card.

08-20-2006, 03:32 AM	#8 (permalink)
Val Gear Heads Moderator Join Date: Apr 2004 Location: Brazil Posts: 8,156 My Profile	Talking in this way, I think you're very rich Rory. Could you lend me some money?

08-20-2006, 05:40 AM	#10 (permalink)
solo1 Heartless Bastard Join Date: Mar 2001 Location: Ireland Posts: 3,526 My Profile	I think it's irresponsible to let internet or telephone companies offer "unsecured loans of up to £25,000 - even if you had a bad credit history!!" on daytime television.

08-20-2006, 05:52 AM	#11 (permalink)
Jocasta Love Charlie Babbitt Join Date: Sep 2002 Location: Shaftesbury Avenue Posts: 18,617 My Profile	I used to get a lot of that junk mail, offering me thousands then I bought a car using the manufacturer's finance company, now I get a helluva lot!

08-20-2006, 06:47 AM	#12 (permalink)
darko. Senior Member Join Date: Oct 2002 Location: shlums 'o shaolin Posts: 2,115	you never give me your mooooneeeyyyy

08-20-2006, 08:00 AM	#13 (permalink)
Bill5461 Scarlett Mod Join Date: Oct 2005 Location: Upstate New York Posts: 12,734 My Profile	I get about 3-4 offers a week. I don't think they like me very much, I always pay them off monthly. It's more of a convenience so I don't have to carry cash

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08-20-2006, 10:53 AM	#14 (permalink)
solo1 Heartless Bastard Join Date: Mar 2001 Location: Ireland Posts: 3,526 My Profile	I keep getting people offering me loans on the email. And viagra. Bastards.

08-21-2006, 03:27 AM	#16 (permalink)
solo1 Heartless Bastard Join Date: Mar 2001 Location: Ireland Posts: 3,526 My Profile	Vorderman! Isn't there any way to get rid of her?

08-22-2006, 04:02 AM	#18 (permalink)
solo1 Heartless Bastard Join Date: Mar 2001 Location: Ireland Posts: 3,526 My Profile	From Bad Company's "Abbey Road".

08-22-2006, 11:09 PM	#19 (permalink)
BlackWolf Senior Member Join Date: Sep 2004 Posts: 28,119 My Profile	AH, yes, quite right, sorry. Was think of a very similar line from "Run With The Pack".