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Re: Random stuff - the anything else thread
Credit cards are great if you pay them off on time. I use my Capital One MasterCard that also doubles as my Costco membership for everything as I get cash back for each purchase.
I just checked my statement and it’s up to $280 cash back so far, the cheques normally get sent out in February right around when my car insurance is due. I cash the cheque and give it straight to ICBC :thumbdown: |
Re: Random stuff - the anything else thread
Shows the poor situation the government puts disabled and low income in, cut supports then recommend obtaining debt.
It's certainly works short term, but long term it never does. I guess in theory while it would ruin your credit, if your on disability for life, at least in BC its exempt from garnishment, so one could just pay minimum for a few months and stop, can't collect money from those without it. Also why most reputable lenders wont give credit to people on disability, the banks know they can't collect if it defaults, but the more predatory high interest places like Canadian Tire Bank, they will no issue, but the their interest is so high, they probably make money at the end of the day or they wouldn't be doing it.,
Originally Posted by caretaker
(Post 13037661)
I agree with you. I was hardly making any money and ran a Can Tire card up to around $2500. Finally I cut it up and paid it off but it wasn't easy and took a long time. Now I use one credit card, pay it off several times a month so I have a credit rating and pay no interest and I think there's a boomer plan that means no fees. I'm a boomer so always like to have cash but since the pandemic became used to using credit more often, and it does earn a few points. I won't even use a remote ATM from a 3rd party that charges for the withdrawl, not worth whatever it costs imo.
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Re: Random stuff - the anything else thread
That rule works for luxury items, but often people end up in the debt to bridge the gap between pay checks to pay for medication or food or their electric bill or even rent.
Bank fees are a poor persons tax, the minimum are so high, they are unrealistic for people on lower income, but luckily banks like Tangerine offer basic checking without fees, but all the big banks, their minimums to avoid monthly fees is out of reach for the bottom segment of society, yet we still need banking services, we just don't always get the luxury to avoid the fees, Tangerine is good if you can do everything online, so for someone without internet wouldn't be a very useful option. As they say the less money one has the more expensive life is, can't buy bulk to save, can't avoid fees due to minimum balances required being unrealistic and often more than a person even makes in a month. Looking at CIBC website. Pay no monthly fee with a daily balance of $4,000 on their basic account which is $16.95/month their $29/month plan requires you maintain a daily balance of $6,000 or $100,000 in eligible savings and investments. It is what it is, banks will always cater to those with money, and will even close accounts on people like me because we are a net loss for the bank, TD did that to me, but they worded in a nice way, something like "we value you as a customer, however we feel that at this time we do not have services you require" just a nice way of saying hey your too poor, never have a balance and the $14.95 isn't enough to justify keeping you as a customer.
Originally Posted by Jerseygirl
(Post 13037668)
Mum’s rule was, if you can’t pay for it, you can’t have it. I have always lived by that rule. I have only one credit card, the full amount is paid automatically from our bank account every month. I say one…I mean Canadian. I have one US and one UK credit card, which is used when I am in the respective countries, then I do not pay any fees. Both those cards are paid in full automatically at the end of the month used. We have never paid a penny interest. Nor do we pay bank fees…or we would move our accounts.
I am with you on the 3rd party ATMs. |
Re: Random stuff - the anything else thread
Not that I would such items anywhere, the spam that has hit the forum tonight, is rather interesting, and I think if I were going to partake in such products, the countries list would be the last ones I would ever try to do it in, poster joined today and is up to 57 posts already, all this one, this is just the headline, the body of the posts list a bunch of options, just in case you missed it, something about buying drugs in those countries just doesn't seem wise.
I wonder if this spam is human or a bot? And do they mean cocaine? https://cimg2.ibsrv.net/gimg/british...f6c713fbd2.png |
Re: Random stuff - the anything else thread
Originally Posted by Jsmth321
(Post 13037719)
That rule works for luxury items, but often people end up in the debt to bridge the gap between pay checks to pay for medication or food or their electric bill or even rent.
Bank fees are a poor persons tax, the minimum are so high, they are unrealistic for people on lower income, but luckily banks like Tangerine offer basic checking without fees, but all the big banks, their minimums to avoid monthly fees is out of reach for the bottom segment of society, yet we still need banking services, we just don't always get the luxury to avoid the fees, Tangerine is good if you can do everything online, so for someone without internet wouldn't be a very useful option. As they say the less money one has the more expensive life is, can't buy bulk to save, can't avoid fees due to minimum balances required being unrealistic and often more than a person even makes in a month. Looking at CIBC website. Pay no monthly fee with a daily balance of $4,000 on their basic account which is $16.95/month their $29/month plan requires you maintain a daily balance of $6,000 or $100,000 in eligible savings and investments. It is what it is, banks will always cater to those with money, and will even close accounts on people like me because we are a net loss for the bank, TD did that to me, but they worded in a nice way, something like "we value you as a customer, however we feel that at this time we do not have services you require" just a nice way of saying hey your too poor, never have a balance and the $14.95 isn't enough to justify keeping you as a customer. I am well aware what it is like to be poor. Granted we were never homeless because we lived in council provided accommodation. Mum often went without food to feed my sister and I. Anyway…I have posted about this before over the years and I am not going to repeat myself. One advantage of growing up like that is…it makes you determined to live a better life. |
Re: Random stuff - the anything else thread
Originally Posted by Jsmth321
(Post 13037580)
Amusing in a way the advice of my wife's mental health worker is to go into debt to survive by getting credit, been there done that, not a viable way to stay above water.
Originally Posted by caretaker
(Post 13037661)
I agree with you. I was hardly making any money and ran a Can Tire card up to around $2500. Finally I cut it up and paid it off but it wasn't easy and took a long time. Now I use one credit card, pay it off several times a month so I have a credit rating and pay no interest
I've been in the position where for every $100 paid off the balance has only gone down by $60 or whatever it was. But there was a period where there was no choice. Tenant disappears owing rent/damage caused, you have to spend something in order to get the next tenant in; family cooker packs up, you need a replacement; heating packs up and it's Canadian winter you have to spend. A laptop might seem a luxury when you already have a desktop computer but if a kid is using it for schoolwork that takes access away from others. A laptop, connected to a TV could also be the cheap family entertainment ;) cutting out other costs. If a credit card enables you to buy that $600 laptop for $450 at BestBuy now and you pay it off at $80 a month it costs you less than saving $100 for 6 months to pay full price and you've been $20 a month better off. Waiting might prove more expensive in the long run. :nod: Balance transfers to a zero interest card can make a big difference too, so long as you know you can make those payments. But if you're paying $100 a month and $40 goes in interest and you transfer it to a zero interest for a year card, your debt reduces by $100 a month instead of $60. It's a massive difference. |
Re: Random stuff - the anything else thread
Originally Posted by BristolUK
(Post 13037966)
A laptop might seem a luxury when you already have a desktop compute.
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Re: Random stuff - the anything else thread
Found this in my picture file and was immediately reminded...
https://cimg2.ibsrv.net/gimg/british...5b488e0c1f.jpg
Originally Posted by caretaker
(Post 13037569)
That isn't a rare one, it's just a Sheepshead. They catch them off the Skyway Pier in St Pete's and they're supposed to be delicious. Their nickname is prisoner fish or convict fish because of the stripes.
Originally Posted by Danny B
(Post 13037565)
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Re: Random stuff - the anything else thread
I see there's a big Lacrosse match coming up this weekend.
Canada East Vs Canada West. That's going to take some effort to get the ball from one side of the country to the other. |
Re: Random stuff - the anything else thread
Someone needs to invent a pill that suppresses the body wanting food.
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Re: Random stuff - the anything else thread
Originally Posted by Jsmth321
(Post 13039712)
Someone needs to invent a pill that suppresses the body wanting food.
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Re: Random stuff - the anything else thread
Originally Posted by Jsmth321
(Post 13039712)
Someone needs to invent a pill that suppresses the body wanting food.
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Re: Random stuff - the anything else thread
Originally Posted by Jerseygirl
(Post 13039742)
They have, but they are mainly available on prescription only.
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Re: Random stuff - the anything else thread
Originally Posted by Jsmth321
(Post 13039826)
But those are only available to people overweight, they need to make something for those who cannot afford food so they no longer need to feel hungry.
https://cofoodbank.com/client-servic...vices-kelowna/ |
Re: Random stuff - the anything else thread
Originally Posted by Danny B
(Post 13039808)
Black coffee does that.
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