Credit Conditions

[brutus2]

It's with an existing card I have. No annual fee and on purchases. After digging it out of the garbage and reading the fine print is was an extra 20% points bonus up to $20 cash back on $2100 in purchases on top of the 3% points on any purchase normally.

The 0% is for purchases, but financial products can be included as purchases, say 1 year notes.

Thanks Redraspberry.

[bronkster1967]

I've been getting a lot of similar offers for various credit cards. The problem is, many or most of them I wouldn't ever want to do business with due to them being woke and/or pushing the ESG thing. I also don't want to give business to companies that will refuse to honor a purchase I'm trying to make of say, a firearm or ammunition. I've heard altogether too many instances of AMEX, Wells Fargo, Chase and a host of others pulling this sort of crap, and while I'm just one guy, well, the rejection of such nonsense has to start somewhere.

That's pretty much the reason I cancelled my PayPal account months ago- on principle alone. I objected to the fact they did an "oopsie", and it slipped out (more like a test to see what would happen) that they would charge your account $2500 each time they deemed something to be misinformation on social media or otherwise. I told them that I vote with my wallet too and added that I sincerely hope they go bankrupt. Like who the hell do they think they are? Now all of a sudden, they're the arbiter of what's right and what's wrong? Uh huh. No. You're fired!

[redraspberry]

PNC and Discover are two who recently came into the limelight. PNC for dropping Don Jr, though they insist it was a mistake and Discover is going to start tracking guns and ammo. I called Discover and they denied it. Yet to be seen.

My list of CC companies to do business with is getting whittled down.

[bronkster1967]

PNC and Discover are two who recently came into the limelight. PNC for dropping Don Jr, though they insist it was a mistake and Discover is going to start tracking guns and ammo. I called Discover and they denied it. Yet to be seen.

My list of CC companies to do business with is getting whittled down.

Yeah! I heard Don Jr. talking about PNC's cancellation of him on Beck or Hannity's radio show the other day- I forgot which. His words were: "If they can do it to me (for no good reason), then they can do it to anybody.", and he's certainly right about that. He said that there was no phone call, no email, no nothing. His business partner checked the account, and it showed a zero balance. When they inquired about it, they were told that a check will be sent in the mail, but no explanation was ever given. Don Jr. did also mention something called PublicSQ (not sure if that's exactly correct- haven't checked it out yet), which supposedly has a way to check if the companies you're considering doing business with also represent your beliefs, etc.

Discover is one CC that I've supposedly been pre-approved for quite a long while now- according to Credit Karma. Amex is another one. There's a few more, but I pretty much just ignore them even though they're all offering "cash back when you spend X amount of dollars!". Blah blah blah. I'd freeze my credit reports/FICO scores through Experian, Transunion, and Equifax, but it seems like it'd be too much of a hassle just to prevent soft inquiries because I already get annoyed when every once in a while, my current CC companies will decline a purchase due to suspected fraud- especially when I don't keep a balance on anything and pay it off at the end of every month or sooner. Meanwhile, you're standing there in Walmart or something and the cashier has that look like "Oh, great. Another deadbeat.".

[Miteysquirrel]

The last 2 days I've gotten email offers for new credit cards....

[bronkster1967]

Here's the thing... You don't have to be a doom-and-gloomer to see that bad things, no, worse things are on the way. The big banks are already feeling the pinch and it sure looks like they're doing everything they can to drum up business. I keep hearing about a lot of people beginning to draw as much cash as they can out of the banks, even though a lot of us have been doing that already and for a while now. Reportedly there's a liquidity crisis that's already developed regarding cash in the banks. They just don't have it, and some of them are actively fighting people to encourage them against withdrawing cash. Is that a sign? I guess we'll see. Just heard Credit Suisse is floundering...

[redraspberry]

Bailins are already set up. And the FDIC I wouldn't count on.

Bank Bail-Ins: The Sneaky Legislation That Puts You On The Hook for Failing Banks

https://www.sbcgold.com/blog/bank-ba...failing-banks/

So I wonder what happens to notes when the come due? I bet they just reissue aka Treasury.

[bronkster1967]

Bailins are already set up. And the FDIC I wouldn't count on.

Bank Bail-Ins: The Sneaky Legislation That Puts You On The Hook for Failing Banks

https://www.sbcgold.com/blog/bank-ba...failing-banks/

So I wonder what happens to notes when the come due? I bet they just reissue aka Treasury.

This. Exactly! I have been educating or at least informing everyone in my family (as well as close friends) about the Dodd-Frank legislation from 2010 and cautioning them to be aware that your bank deposits aren't actually yours and bail-ins can occur. They have been preparing and protecting themselves by removing cash slowly and methodically. I know it's probably preaching to the choir in this forum, but if it helps a single person here who wasn't aware, then great. I've seen differing percentage numbers pertaining to just how much the FDIC would be able to make someone whole again if a bank failed, and the numbers aren't good. Now imagine if a lot of banks began to go under- no, thanks. To me, BYOB stands for more than just bring your own beer.

And even if I turned out to be a tinfoil hat wearing conspiracy theorist and am completely wrong, and nothing bad actually happens, what have they lost? They still have their cash (dry powder).

[LongDonSilver]

My local credit union is offering 4.25% on 24 month CD's. I remember decades ago my wife got a CD with about 11% ROR from a bank that ended up shutting it's doors. She swapped a T-bill for the CD and got $600 cash in hand and the same ROR the bill was paying. After the bank flopped she did get paid off by FDIC or bank insurance, but there was a period where her CD money was illiquid. So I'm waiting for the next round of the same thing happening again. Credit Swisse is offering higher rates to anyone that will put new money into them. That when you've got to ask yourself the old Dirty Harry question: "Do you feel lucky, punk?

[maxwellsilverhammer]

i am just using the charles schwabb money market getting 4.4795% 7 day yield and very liquid -at least at present.