Latest Credit Card Gambit Will End Badly

[jimmygu3]

Re: Chase credit card - leave it at home

A lot are medical bills. I know so many people who either put medical bills on credit cards or owe a lot of money to doctors still. One friend has over 10k she has to pay because she had to have major surgery and that's after insurance paid their part. It's going to take her over a year to pay off her medical bills and that's with spending $50 a week on groceries and shopping at goodwill for all her clothing.

Over 60 Percent Of All US Bankruptcies Attributable To Medical Problems

ScienceDaily (June 5, 2009) — In 2007, before the current economic downturn, an American family filed for bankruptcy in the aftermath of illness every 90 seconds; three-quarters of them were insured. Over 60% of all bankruptcies in the United States in 2007 were driven by medical incidents. In an article published in the August 2009 issue of the American Journal of Medicine, the results of the first-ever national random-sample survey of bankruptcy filers shows that illnesses and medical bills contribute to a large and increasing share of bankruptcies. The share of bankruptcies attributable to medical problems rose by 50% between 2001 and 2007.

[cjppjc]

Re: Latest Credit Card Gambit Will End Badly

I'm so sorry I asked.

I have run up some bills and was always able to just pay the hospital and doctors over time with no interest.

[hayekvindicated]

Re: Latest Credit Card Gambit Will End Badly

I'm so sorry I asked.

I have run up some bills and was always able to just pay the hospital and doctors over time with no interest.

I had a bank client who had lent £10,000 to a woman for plastic surgery. She didn't want to pay the money back. That's how crazy borrowing became in Britain at the height of the credit bubble.

[bobola]

Re: Latest Credit Card Gambit Will End Badly

A few months ago on a regular trip to Costco I stopped at a table where a woman was selling a new American Express credit card, with Costco’s name on it, a partnership deal of sorts.

I stopped for the free chocolate bar, and decided to listen to her pitch.

I listened and then gladly signed up. The new AE card has no annual fee. I asked how they expect to make money and she said AE and Costco hope that I carry a big balance, with an interest rate of 27%. Balance...???...I don't carry no stinkin credit card balance....

She even went so far as to put the name of our defunct business on the card, for a 5% discount on gas – that’s how badly she needed customers.

There are deals out there..you just have to beat the bushes a bit….

[Guinnesstime]

Re: Latest Credit Card Gambit Will End Badly

I'm so sorry I asked.

I have run up some bills and was always able to just pay the hospital and doctors over time with no interest.

Same here.... in fact after the insurance took care of their part I have even been able to negotiate what I owed with the hospital and docs.

[flintlock]

Re: Latest Credit Card Gambit Will End Badly

After my last trip to the doctor I had to have some tests done. Not a huge sum of money, but more than I felt like paying in one month. My wife decided to call and ask if we could make payments since she heard everyone else was doing it. The doctors office said, sure, just send us what you can when you can. I couldn't believe it. I think they were just glad we were interested in paying at all.

I agree though, a lot of credit card problems out from medical problems. If not medical bills, then loss of the ability to earn a living.

[LargoWinch]

Re: Chase credit card - leave it at home

I totally agree, Flintlock. Just don't play their game.

A lot of Americans spent more than they could afford and are now buried under debt. The double whammy are the types of games Chase plays.

I hope one of the outcomes of this economic crisis is that more Americans (lots more) decide to get off the debt mill and live within their means.

... But the governments - owned by the banksters - hate losing clients.

The solution? Real negative interest rates.

[cjppjc]

And after my proud post earlier

What should appear in the mail?

A letter I haven't really read yet. I got the jist of it. The terms are changing.:eek: