This may seem like an odd thing to do, but for the month of January I collected all the credit card offers that came to our home.

Ross received seven.
I received nine.
My second year college student received 16!

This is ridiculous. My college age son works for a couple months in the summer and I can tell you he doesn't have money for a crdiet card.

In addition to the applications, we also received blank checks! This boggles my mind. What are these banks thinking? It's so unfair. They prey on these college kids knowing they need the cash. I've heard stories about kids graduating in debt up to their ears. What kind of way is that to begin living independently?

And we wonder why credit card debt is escalating.
The checks I get are usually for a home loan to be used to pay off credit cards. If we have a recession, banks could wind up owning a lot of homes.
smile

I have been crossing off the info on the credit card letters and writing in big letter.. "Please take me off your mailing list". then I send them back in their self addressed stamped envelopes.. I get so much satisfaction out of it I can't tell you how good that feels.
the checks that come in the mail goes straight to the paper shredder. We're in debt enough and trying to get out.. YEAH>>>>

OK, I usually don't splat my poems in the middle of posts, but since this was sooooo on topic...

Credit


Just this week I got eight pre-approved offers
for loans or credit cards
which makes 34 per month
or roughly one million dollars in free money

and for one insane moment I think:
I should take them all
get oodles of cash and wildly expensive playthings,
live high off the land until the bills are due
two months later.
In my entire life I haven’t made one million dollars
so the odds are low that I’d be able to repay.

I’d move to a third-world country
(somewhere that doesn’t get a lot of tourists
or have reciprocal extradition laws
probably because it’s in the middle of a revolution
or coup or tribal insurgency)
and live hidden deep in the jungle
where I’d get eaten by mosquitoes
and watch my precious possessions
rot in the damp heat of my tropical hell.


Meredith Karen Laskow
©May 19, 2004

Wow...that's a great poem.

chickadee

I cannot stand how CC companies prey on not only the young, but senior citizens as well. It upsets me so much, that I constantly check the laws regarding them to see if there are any new "watch dog" laws out there to protect the innocent. I've written letters to my congressmen about their habits, and preach to anyone who will listen about the evils of CC's. I think one of the main problems with this easy credit is that we live in a society of "gimme, gimme, gimme, and gimme it now." I believe we will see a recession and soon.

I know I've touted this web site before, but if anyone needs a good, common sense, and guaranteed method of getting out of debt, then visit http://www.cheapskatemonthly.com/ and sign up. You won't regret it. Nuff said.

JJ

Meredith, or you could charge millions and file bankruptcy. Great poem. It's nice seeing your writing in here.

Thanks all! and I really got 8 in one week, which unfortunately is way too typical!

I shred everything with my name on it.

I like the bankrupcy idea. If enough folks did that these vultures might make more restrictions on who they give these cards to, make thyemhard to9 get and not be handing them out like jujubee's....

Andy Rooney says to put trash in them, even coffee grinds, and mail them back to them so they not only get smelly mail but have to pay for the postage.

I do exactly that and beware anything I get that has return postage paid on it. I forego the coffee grinds but even tear the envelope it came in in half and send it back to them as well. The heavier the return mail is the more it costs them...I even add extra paper if the envelope is big enough, and it serves them right.....

Chatty,
I did that today. I get those darn Capital One applications for my husband and me. With those cards in them. I wrote on them . Please take me off your list and I am tired of those cards you send me. and sent it back in there postage paid envelope. I get those about four a week and sick of it.

Yikes ! drive you nuts.

[ February 23, 2005, 10:11 PM: Message edited by: Nancy50 ]

Capital One? Sometmes we get two of those a day!

My husband and I paid off all our credit cards and shredded them. We have one that we use for emergencies (never had to use it yet, - fingers crossed)

Our only long payments are car and mortgage. Our monthly bills are utilities and such.

We save each month for big purchase items and then pay cash. If we can't afford it, we don't buy it.

We've lived this way for two years now and it feels wonderful.

Hand raised ------> I solemnly vow to never get into credit card debt again.

It is a rare day when there isn't a credit card offer in our mailbox. We have a dedicated garbage can (one of those large ones with rollers) that we set just outside the door into the garage from the house. When I go through the mail, I throw all the credit card mail, catalogues, and other junk mail into that bin. Then once a week my husband burns it. I used to shred it, but it became a part time job when you add in the personal paper I created myself.

We paid off all our cards, too. Our goal this year is to sell our remodeled house, take the cash, add it to my husband's social security, move to the city, and not work for at least a year except on our writing. Sort of a personal writer's retreat. Of course, it all hinges on our selling the house. Keep your fingers crossed for us! My husband is self-employed..so if things get tough, we can always start his business up again, but we really don't want to. After 45 years, he's pretty tired of it.

Oh, BTW Vicki....I solemnly vow to never get into credit card debt again!

Capital One? You may find this hard to believe but we got SIX from them yesterday addressed to my hubby and I and two addressed to my mother-in-law who has been deceased for over 12 years! I have been burning them just because I like to see their junk going up in smoke! LOL I could heat my house with the damn things.

VERY SCARY

I don't know if you all have heard much about identity theft -- but it is a huge issue in the U.S. right now!

I just bought a shredder to shred such garbage (credit card apps, etc)...because there are people who make a living digging through trash to find such info.

My brother was just ripped off of his checks (coming from the bank) and the person spent 900.00 before he was caught.

I heard a presentation from pre-paid legal reps - they have an identy theft program which is affordable - and I believe, worthwhile.

They also gave us a number to contact to stop those credit card apps from coming. People can get them before you do and open accounts. These people are VERY street smart!

I will try to get that number and post it.

It is easy to have a "head in the sand" mentality to protecting yourself from having your identity stolen - but when it happens to you.....you know, it becomes real.

D.

I can't stand having to waste time on these issues. Urg. I don't shred. I just tear, but you're right. Everything needs to be shredded!

Years ago, someone working for the post office ripped off my credit card before it got to me. When I opened my statement I was shocked to see over $900.00 in charges that weren't mine. All of that debt was erased by the bank. Now you know why the interest rates are so high.

Thursday my credit card company called ME. They suspected that someone had taken my credit card number and charged something to me somewhere in California. For some reason, maybe because it happened at the same time I was charging things a thousand miles away, it looked strange so they called. Can you believe that?

I was amazed. In fact, I insisted on calling them back in case it was a crank call or something. Who would think there was actually a human on the other end of that little plastic card? That someone was keeping an eye on my credit card was a huge surprise to me.

They cancelled my credit card as we spoke which means I can't charge anything on that card until Monday, but at least no one else can either.

Never had that happen before.
smile

I've had my credit card info stolen from an online purchase and before the bank and I caught it over 2,000 was purchased in other online products. The bank erased all the purchases and cancelled my card instantly. I've had my bank call me several times over "unusual" purchases and I appreciate their calls. It helps me realize that someone is watching those purchases and flagging them for possible fraud.

I set up a second checking account with a check card for purchases online. That account has a low dollar value so that if it is stolen from an online purchase there isn't much in it.

Now, I do my banking online with Bank of America and I pull up my statement every few days and go over it carefully. I'm watchful for any purchases not made by my husband or myself.

We shred any piece of paper or mail that has any personal information on it. Especially those credit card applications. And, I shred those cards that come with them.

I suggest that everyone invest in a good shredder and put it to good use. It could be a save you a lot of hassle someday.

Everyone in this group knows about the tactic used on line called "phishing"?!

It's when a thief emails you - acting like they are your bank account/or credit card account and they say something like,

"for security reasons we need to validate you info in regards to your credit card/bank account"

They even use the bank/credit card logos. They look so real!

We are saposed to forward those to the companies that they are saposedly representing!

-----
The thing about "Identity theft protection" (aside from what your credit card might provide)is that the watch ALL YOUR CREDIT and notify you when someone is applying for credit under your name or anything unusual is happening under your name.

There are people who have bought houses and cars that THEY didn't buy! And apparently it can take years to clear it all up.

The Identy Theft People (if you have coverage) take care of cleaning up your credit and handling all of the associated issues.

you can tell I am passionate about this service (No, I'm not a consultant for them. Ha)....It is worth 12.00 a month to protect my families' good name (it covers hubby also!)

Danita

That sounds like a great service everyone should have as Identity theft is getting really bad.

Since my divorce and a major hospital bill I have my own form of theft protection, my credit is sooooo bad no one in their 'right mind' would give me credit for anything and I plan on leaving it that way. I have everything I want and need, my house and car are mine free and clear and I use cash only, works for me. I pity the fool that would steal my identity...

About ten years ago I had a credit card that I had had for quite a while. I went to a city that I hadn't been to before, tried to use my card to charge gas, and it was refused! Talk about embarrassed! I didn't have a balance at the time so it was doubly scary. When I was able to get to a phone, I called the company, and they said it was just a precaution because it was outside my normal pattern. I thanked them for their vigilance but asked that they be a little less so unless they wanted me to call them every time I left town!

A couple of years after that I got a call from them again. A clerk at K-Mart had used my number to charge several things through Heartland America. They were already investigating them and knew that it was probably bogus.

I check my credit card transactions online every few days now so I can stay on top of charges. However, I never use my debit card online.

Post Script:
You can also sign up for Privacy Guard (and several other online credit report services) which enables you to check for any inquiries on your credit. That way, you can stop large purchases which usually check credit before they get out of hand.
Also Capital One has a program called CreditInform which lets you know about credit inquiries.