[lace-chat] Credit cards and banks
The exchanges on this topic have been interesting, comparing the different systems in other countries. One thing not mentioned is the existence of internet banks, like INGdirect, who will hold your money for you at the equivalent of or a bit more than fixed deposit rates, but you can transfer in to and out from your own bank account, all with no charges at all. At the moment, here in Australia I get 5.40% per annum, calculated and credit to my account monthly. In the USA I think it is 2.80%, better than the 0.5% Tamara gets. They have no credit cards, no cheque books, no direct debit, etc. You just link it with your own bank account. All usual disclaimers, etc., I'm just a happy customer who likes getting a little bit of interest on my paltry few dollers. My son just signed up so that he can use it as a regular savings account, having a fixed sum transferred in every payday. Noelene in Cooma [EMAIL PROTECTED] http://members.ozemail.com.au/~nlafferty/ To unsubscribe send email to [EMAIL PROTECTED] containing the line: unsubscribe lace-chat [EMAIL PROTECTED] For help, write to [EMAIL PROTECTED]
[lace-chat] Credit cards and banks
Helene wrote: I wonder how many people owe banks more than several years of full pay in credit cards without really having noticedOne day, there is going to be a nasty reckoning, and Tamara wrote: because you couldn't keep up with the payments on your many credit cards (though why anyone would want to have more than one...). I was reading in one of our over-50s magazines about one reason for having several credit cards explained by a financial adviser. This applies only to cards which offer 0% interest as an introductory offer on balance transfers from other cards. I didn't really understand what he was saying because I didn't pay close attention - I no longer have a mortgage on my home as we finished paying for it in 1986 and so what he was saying doesn't apply to us. It was the fact that he has 5 credit cards all maxed out, all of which are balance transfers and on all of which he is paying no interest. When the period of 0% interest runs out, he gets a new card and transfers the balance to that. He also had a flexible mortgage (whatever that is - ours was a straight repayment one), and, by working the flexible mortgage and 0% maxed-out credit cards together, he's saving a great deal of money on mortgage interest payments. He obviously knows what he's doing. I get really annoyed at current TV adverts offering loans to people already in debt to clear your existing debts - no you won't! - or consolidate your existing debts into one easy monthly payment - and there could even be money left over for one of life's luxuries - no there won't! You'll still be in debt, probably further than you were before. I complained to the Advertising Standards Authority that the claim that you could clear your debts was wrong, but they said there was nothing wrong with the adverts because people understood what was meant. People who get that far in debt don't understand anything of the sort. I use my credit card, but clear it at the end of each month. I use it for internet shopping, for items over £100 because there's free insurance for loss, damage or the company I bought from going bust, and until recently I got an extra year's free warranty on household appliances. If I can't afford it (apart from buying a house), I don't have it. Off soapbox. Jean in Poole To unsubscribe send email to [EMAIL PROTECTED] containing the line: unsubscribe lace-chat [EMAIL PROTECTED] For help, write to [EMAIL PROTECTED]
[lace-chat] credit cards and banks
Jane wrote: The taxes are *there*, just calculated differently hidden I consider this in the tax category altho perhaps I have been lucky so far. Received notices from credit card company and the banks that they are now charging a 'fee' of 3% of total amount of any foreign currency charge or withdrawal at foreign ATMs. That really adds onto the cost of buying from overseas vendors. Yes, we are starting to see the beginning of the end with the banks stranglehold on the ways we can access our money!! Now that everyone is convinced credit cards are a good way to shop overseas (no cash, no theft...), they are going to start making it more expensive for us to use those credit cards!! I wonder how many people owe banks more than several years of full pay in credit cards without really having noticedOne day, there is going to be a nasty reckoning, and I wouldn't like to be a bank manager when the wrath of the hoi-polloi falls on the moneylenders!!! Hopefully, they will all be beheaded, as they were in the Middle Ages whenever a King decided he needed a bit of free cash without raising taxes and making his subjects unhappy...:-) I wouldn't mind being around when it happens to a few bank managers I know :-) Well, forget all those troubles, and have a lovely Easter, all of you. 4 days off work when I hope I will be able to make a bit of lace, for a change! Helene, the froggy from Melbourne, where the weather has turned cloudy, but still no rain. The oak trees have started to change, what a beautiful sight. There are a few streets lined with them on my way to work each day, I love it! Nearly as nice as when the yellow wattles and the blue jacarandas bloom. Find local movie times and trailers on Yahoo! Movies. http://au.movies.yahoo.com To unsubscribe send email to [EMAIL PROTECTED] containing the line: unsubscribe lace-chat [EMAIL PROTECTED] For help, write to [EMAIL PROTECTED]
