Hyperinflation will kill the dollar - Mercedes-Benz Forum

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post #1 of 14 (permalink) Old 11-29-2007, 11:58 AM Thread Starter
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Hyperinflation will kill the dollar

It's coming. not a mattter of IF but When.

If you have credit cards, it's important for you to shut them down asap so the interest rate won't balloon on you unexpectedly like one of mine did. the card company claimed that it was in the rules that my interest rate would skyrocket without notice but could not show me in the bylaws or policies of the company's card rules. lesson learned. I then shut down most of my credit cards to keep them from following suit because that's how they operate. one card raises their interest rate, other's follow suit. it's common practice.

warning to you all...shut down those high interest cards, even low interests ones as soon as you are capable. the credit card company's are the first to get their money in time of a crisis..and that crisis is the creaping in of hyperinflation.

sound off if you want.
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post #2 of 14 (permalink) Old 11-29-2007, 12:02 PM
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^^^^^

Is this the one you use most?


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post #3 of 14 (permalink) Old 11-29-2007, 12:28 PM
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According to this, CC rates are dropping. What gives ?
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post #4 of 14 (permalink) Old 11-29-2007, 01:06 PM
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According to this, CC rates are dropping. What gives ?
That chart addresses INITIAL rate. All those swarms of 0% and sub 10% consolidation offers that we have all been getting in the mail over the past few years skew the averages. They are the predator, incestuous cousin of the SubPrime BS that the banks have been serving up for the past five years or so.

It is what happens when you deregulate an industry and let the "market" decide how to govern itself.

By the way, as the bankruptcies increase, each quarter adding record numbers to their rolls, credit cards are the first to purge. Banks are taking big hits. And that is going to get worse.

For those who use them on big ticket items, make note, IF you buy a refrigerator in 2000 on CC and never pay that card to $0.00 that refrigerator is always collateral on the rolling debt. Same with TVs, computers, cameras. Most of the time they just write off the debt and go away BUT if they want to be a dick, or if you burnt bridges with your cc company on the way to BK, you might not enjoy the ride. They CAN take your stuff, just for spite.

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post #5 of 14 (permalink) Old 11-29-2007, 01:20 PM
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Better yet don't use your cc for credit. Pay it off every month. I have never paid a dime in interest on a cc and, in fact, get almost $1000 credit every year by using a card that provides a 1% cash rebate for all charges. If you really need credit get a home equity line of credit.

Don't believe everything you think
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post #6 of 14 (permalink) Old 11-29-2007, 01:36 PM
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Better yet don't use your cc for credit. Pay it off every month. I have never paid a dime in interest on a cc and, in fact, get almost $1000 credit every year by using a card that provides a 1% cash rebate for all charges. If you really need credit get a home equity line of credit.
What he said

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post #7 of 14 (permalink) Old 11-29-2007, 02:38 PM
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post #8 of 14 (permalink) Old 11-29-2007, 02:52 PM
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^^^^^

Is this the one you use most?
No , more like this one I would hasten to guess.
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post #9 of 14 (permalink) Old 11-29-2007, 02:55 PM
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post #10 of 14 (permalink) Old 11-29-2007, 03:24 PM Thread Starter
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Originally Posted by Jayhawk View Post
Better yet don't use your cc for credit. Pay it off every month. I have never paid a dime in interest on a cc and, in fact, get almost $1000 credit every year by using a card that provides a 1% cash rebate for all charges. If you really need credit get a home equity line of credit.

I had bad credit coming out of college so I had to rebuild my score and reputation in credit. so I had to use them some. I've been payying off most of the new ones every month like you say but some of the old ones that have high balances had to be shut off period and to stop the rate and lock it in so they can't mess with it. it's a smart thing to do if you have a shit load of cards like I do.
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