Rates

[privacyadvocate69]

---

@Aeon wrote:

---

@privacyadvocate69 wrote:

---

@Aeon wrote:

---

@privacyadvocate69 wrote:

I look at credit card rates these days and I am so glad I don't carry a balance on anything!

My new Chase IHG card is over 20%!! I can't imagine carrying a balance on that thing!

You would have to be insane to carry anything other than a 0% offer balance on anything these days.

---

Not everyone has the option of carrying debt at 0% interest or paying in full. I know your use of "insane" is a figure of speech, but be mindful of those on this forum who are paying high interest debt and aren't in a position to lower their interest rates or debts in this current economic climate. 

---

Uh.....................................yeah.

Some people complain about anything.

Maybe you shouldn't talk about your high credit scores or the credit cards you have, since, you know, not everyone is in a position to have those things.

.

---

ETA: For transparency and context, the OP edited their response while I was typing mine. They had originally stated that they would advise people who don't have the option to not carry 0% interest debt to simply avoid getting in debt. So that's what my response is to bc it doesn't make sense otherwise.

***

That's great advice in general, but I think misses the point when spoken on a credit forum that welcomes ppl who are at every point of their credit journey. From ppl who are considering filing for bankruptcy, to rebuilders starting from 500 (or less) credit scores, to people who stress when their 850 credit scores have dropped 5 pts, to everybody in between.

I wholeheartedly agree with finances over FICO, but I'm also well aware that not everyone who reads these forums are in a position to practice that by by paying in full. I know that people who have low FICOs don't have the options to get zero % balance transfer offers (if any) with credit limits that would be help cut their interest substationally. They may not qualify for personal loans at rates that would lower their interest rates by double digits. Their choices are limited and in many cases are suboptimal.

To say (rising) interests rates are insane is one thing. To say someone -- even in the general "you" sense -- has to be insane if they have high interest debt is another, figure of speech or not.

My credit scores reflect me recording my credit journey of having a super thin, volatile file, just like the many people here who record their starting (low) credit scores as their scores improve slowly but surely. My credit is good today, but wasn't always the case. I had COs and creditors calling all day everyday for debts I couldn't repay at the time due to illness and unemployment. I stayed away from credit for far too long as a result, so I don't take my current high scores and opportunities those scores afford me for granted. 

---

Are you done?

In the meantime, credit card rates are insanely high. I am thankful I'm not paying them and view myself as insane for ever having done so.

[Anonymous]

---

@privacyadvocate69 wrote:

---

In the meantime, credit card rates are insanely high. I am thankful I'm not paying them and view myself as insane for ever having done so.

---

And I reserve the right to point out that severe mental disturbance (called insanity by the clueless) shouldn't be used as a perjorative!

But.....  using my position as the One Truth:

Calling things PC/virtue signalling just means:

"This person cares about things that I don't".   

When the situation is reversed,  then the complaint is that such stuff is disgusting/disloyal/insensitive/[other side of political spectrum]/etc

Which is not to say that things can't be taken to an apparently ridiculous extreme, which means "I care about that, but not to that extent!"

But that fact that someone cares about something, doesn't mean that they are "right" in some objective sense, or that you should care equally or at all.  Just be aware that PC is totally subjective based on your own preferences and beliefs.   "Give each person one and only one vote, regardless of ability, wealth, family connections????  Come on, how PC!"

[Aeon]

---

@privacyadvocate69 wrote:

---

@Aeon wrote:

---

@privacyadvocate69 wrote:

---

@Aeon wrote:

---

@privacyadvocate69 wrote:

I look at credit card rates these days and I am so glad I don't carry a balance on anything!

My new Chase IHG card is over 20%!! I can't imagine carrying a balance on that thing!

You would have to be insane to carry anything other than a 0% offer balance on anything these days.

---

Not everyone has the option of carrying debt at 0% interest or paying in full. I know your use of "insane" is a figure of speech, but be mindful of those on this forum who are paying high interest debt and aren't in a position to lower their interest rates or debts in this current economic climate. 

---

Uh.....................................yeah.

Some people complain about anything.

Maybe you shouldn't talk about your high credit scores or the credit cards you have, since, you know, not everyone is in a position to have those things.

.

---

ETA: For transparency and context, the OP edited their response while I was typing mine. They had originally stated that they would advise people who don't have the option to not carry 0% interest debt to simply avoid getting in debt. So that's what my response is to bc it doesn't make sense otherwise.

***

That's great advice in general, but I think misses the point when spoken on a credit forum that welcomes ppl who are at every point of their credit journey. From ppl who are considering filing for bankruptcy, to rebuilders starting from 500 (or less) credit scores, to people who stress when their 850 credit scores have dropped 5 pts, to everybody in between.

I wholeheartedly agree with finances over FICO, but I'm also well aware that not everyone who reads these forums are in a position to practice that by by paying in full. I know that people who have low FICOs don't have the options to get zero % balance transfer offers (if any) with credit limits that would be help cut their interest substationally. They may not qualify for personal loans at rates that would lower their interest rates by double digits. Their choices are limited and in many cases are suboptimal.

To say (rising) interests rates are insane is one thing. To say someone -- even in the general "you" sense -- has to be insane if they have high interest debt is another, figure of speech or not.

My credit scores reflect me recording my credit journey of having a super thin, volatile file, just like the many people here who record their starting (low) credit scores as their scores improve slowly but surely. My credit is good today, but wasn't always the case. I had COs and creditors calling all day everyday for debts I couldn't repay at the time due to illness and unemployment. I stayed away from credit for far too long as a result, so I don't take my current high scores and opportunities those scores afford me for granted. 

---

Blah blah blah,

complain complain complain

virtue signaled.

Thank you.

In the meantime, credit card rates are insanely high. I am thankful I'm not paying them and view myself as insane for ever having done so.

---

Yes, indeed, interest rates are high. Yes, it's best to PIF and not pay interest. Yes, it's best to lower high interest rates as much as possible as quickly as possible, especially if you can obtain a 0% bt or new purchase offer.

But if you interpret my comments as complaints and virtue signalling, then so be it. This forum is FSR -- friendly, supportive, respectful -- and I do not interpret your original comment to be supportive or respectful in the least to ppl who carry high interest debt, which you clearly think very differently about than I. 

But let's just move on. I think we both have said what we have wanted to on this matter, no gain in continuing to belabor our points. 

[iced]

---

@Aeon wrote:

---

---

That's great advice in general, but I think misses the point when spoken on a credit forum that welcomes ppl who are at every point of their credit journey. From ppl who are considering filing for bankruptcy, to rebuilders starting from 500 (or less) credit scores, to people who stress when their 850 credit scores have dropped 5 pts, to everybody in between.

I wholeheartedly agree with finances over FICO, but I'm also well aware that not everyone who reads these forums are in a position to practice that by by paying in full. I know that people who have low FICOs don't have the options to get zero % balance transfer offers (if any) with credit limits that would be help cut their interest substationally. They may not qualify for personal loans at rates that would lower their interest rates by double digits. Their choices are limited and in many cases are suboptimal.

To say (rising) interests rates are insane is one thing. To say someone -- even in the general "you" sense -- has to be insane if they have high interest debt is another, figure of speech or not.

My credit scores reflect me recording my credit journey of having a super thin, volatile file, just like the many people here who record their starting (low) credit scores as their scores improve slowly but surely. My credit is good today, but wasn't always the case. I had COs and creditors calling all day everyday for debts I couldn't repay at the time due to illness and unemployment. I stayed away from credit for far too long as a result, so I don't take my current high scores and opportunities those scores afford me for granted. 

---

I get where you're going, but I would also caution that there's a very thin line between supporting and enabling. One of the biggest issues I take with the almost too-supportive nature of these forums is that, in the goal of trying to help people cope with being in a bad financial situation, many posts/posters end up saying (or not saying) things that can -- and probably in some cases do -- end up condoning an irresponsible and/or ill-advised behavior.

It's a good thing to call out bad decisions as bad, even if those choices are the only ones available to some people. 

[privacyadvocate69]

---

@Anonymous wrote:

---

@privacyadvocate69 wrote:

---

In the meantime, credit card rates are insanely high. I am thankful I'm not paying them and view myself as insane for ever having done so.

---

And I reserve the right to point out that severe mental disturbance (called insanity by the clueless) shouldn't be used as a perjorative!

But.....  using my position as the One Truth:

Calling things PC/virtue signalling just means:

"This person cares about things that I don't".   

When the situation is reversed,  then the complaint is that such stuff is disgusting/disloyal/insensitive/[other side of political spectrum]/etc

Which is not to say that things can't be taken to an apparently ridiculous extreme, which means "I care about that, but not to that extent!"

But that fact that someone cares about something, doesn't mean that they are "right" in some objective sense, or that you should care equally or at all.  Just be aware that PC is totally subjective based on your own preferences and beliefs.   "Give each person one and only one vote, regardless of ability, wealth, family connections????  Come on, how PC!"

---

Are you done?

[Yasselife]

 I just learned the word insane can trigger lots of people. C'mon guys, his main advice is to avoid credit card debt which is spot on, that's what got me in trouble years ago. We should also strive for a solid emergency fund, and have everything insured.

[Aeon]

---

@iced wrote:

---

@Aeon wrote:

---

---

That's great advice in general, but I think misses the point when spoken on a credit forum that welcomes ppl who are at every point of their credit journey. From ppl who are considering filing for bankruptcy, to rebuilders starting from 500 (or less) credit scores, to people who stress when their 850 credit scores have dropped 5 pts, to everybody in between.

I wholeheartedly agree with finances over FICO, but I'm also well aware that not everyone who reads these forums are in a position to practice that by by paying in full. I know that people who have low FICOs don't have the options to get zero % balance transfer offers (if any) with credit limits that would be help cut their interest substationally. They may not qualify for personal loans at rates that would lower their interest rates by double digits. Their choices are limited and in many cases are suboptimal.

To say (rising) interests rates are insane is one thing. To say someone -- even in the general "you" sense -- has to be insane if they have high interest debt is another, figure of speech or not.

My credit scores reflect me recording my credit journey of having a super thin, volatile file, just like the many people here who record their starting (low) credit scores as their scores improve slowly but surely. My credit is good today, but wasn't always the case. I had COs and creditors calling all day everyday for debts I couldn't repay at the time due to illness and unemployment. I stayed away from credit for far too long as a result, so I don't take my current high scores and opportunities those scores afford me for granted. 

---

I get where you're going, but I would also caution that there's a very thin line between supporting and enabling. One of the biggest issues I take with the almost too-supportive nature of these forums is that, in the goal of trying to help people cope with being in a bad financial situation, many posts/posters end up saying (or not saying) things that can -- and probably in some cases do -- end up condoning an irresponsible and/or ill-advised behavior.

It's a good thing to call out bad decisions as bad, even if those choices are the only ones available to some people. 

---

I haven't seen that, truth be told, but I've only been around since August of last year so I don't have years long forum-related knowledge as others do, but I don't disagree with your point.

From what I have read and observed, the vast majority of folks here believe in Finances > FICO and their advice steadfastly supports that. Whether or not the person asking for help takes heed of that advice is up in the air. But I haven't seen a lack of ppl calling a spade a spade.

I like the overall supportive nature of these forums, even if some threads or topics can seem a bit too indulgent. I'd rather have someone have the courage to post here asking for help/advice/guidance, than not and make a painful financial mistake. Maybe that comes at the cost of more posts being more forthright, but at the moment I don't think that's a bad tradeoff. 

[K-in-Boston]

Dropping in a reminder that all posts on this forum must be Friendly, Supportive, and Respectful.  Before OP asks, yes I am done.  And this thread will be if this continues.

[kh_jenn]

Hi, We've noticed that this thread has veerd off-topic. While healthy debates are welcomed, we ask that you please keep it respectful and on-topic. As a reminder, you can view our community Terms of Service here. Thank you!

[simplynoir]

---

@Remedios wrote:

---

@privacyadvocate69 wrote:

---

@Anonymous wrote:

---

@privacyadvocate69 wrote:

---

In the meantime, credit card rates are insanely high. I am thankful I'm not paying them and view myself as insane for ever having done so.

---

And I reserve the right to point out that severe mental disturbance (called insanity by the clueless) shouldn't be used as a perjorative!

But.....  using my position as the One Truth:

Calling things PC/virtue signalling just means:

"This person cares about things that I don't".   

When the situation is reversed,  then the complaint is that such stuff is disgusting/disloyal/insensitive/[other side of political spectrum]/etc

Which is not to say that things can't be taken to an apparently ridiculous extreme, which means "I care about that, but not to that extent!"

But that fact that someone cares about something, doesn't mean that they are "right" in some objective sense, or that you should care equally or at all.  Just be aware that PC is totally subjective based on your own preferences and beliefs.   "Give each person one and only one vote, regardless of ability, wealth, family connections????  Come on, how PC!"

---

Are you done?

---

No, they are not and it would really be for the best if you tone it down by a lot. 

You started a thread, you congratulated yourself, others will say what they need to say, too. 

---

Mmmm indeed. For someone like the OP to think they were dropping wisdom only to be defensive of anyone who dares take an opposing position says a lot about them. Now we just need self-awareness to come in and visit