georgiaboy Posted January 24, 2003 Report Share Posted January 24, 2003 When the interest rate goes back up, you shall find it less difficult to deal with the CRAS... I Have spoken. Link to comment Share on other sites More sharing options...
calawyer Posted January 24, 2003 Report Share Posted January 24, 2003 Do you mean creditors? Link to comment Share on other sites More sharing options...
georgiaboy Posted January 24, 2003 Author Report Share Posted January 24, 2003 I meen CRAs, which is only a extension of creditors. One scratches the others back. Link to comment Share on other sites More sharing options...
Anonymous Posted January 24, 2003 Report Share Posted January 24, 2003 <blockquote>Originally posted by georgiaboyWhen the interest rate goes back up, you shall find it less difficult to deal with the CRAS... I Have spoken.</blockquote>I think you are correct; however, not psychic. It should be common sense. Ever sense the prime interst rate went to nearly zip the banks have panicked and started sucking all the blood they can out of us to make up for the loss in revenue. Of course, it didn't stop them from charging more interest on credit cards. IMHO, anyone who used credit cards in this day and time is a fool, given the high interest. One could go to the Mafia and get lower rates Link to comment Share on other sites More sharing options...
IronMan Posted February 10, 2003 Report Share Posted February 10, 2003 Yeah. My buddy Tony Soprano only charges me two points on $5000.00. I recommend to people that can to get a home equity line of credit and cut up the cards or stash them in a drawer for a rainy day. Right now is a good time to do it since lock rate will be down in low 4's high 3's. Don't have to get the full amount of equity, but can help in a time of need. You can use the cash to float in case of crisis. Even though the rate is variable, the most you'll pay with 650-680 credit is 13%-15% if the prime jumps up to 8% or 9% like they were a year and a half ago.Plus the payment and balance adjust accordingly. You only pay on what is used.That beats 18-24% on each credit card that do 'reachback' calculations! Think about how much interest you pay and the amounts of the debt on your cards each month on the "average daily balance". You'll be amazed.Good Luck! Link to comment Share on other sites More sharing options...
sisflomi Posted August 30, 2003 Report Share Posted August 30, 2003 We need to just do away with cras, what is your prediction for that happening in this lifetime? Link to comment Share on other sites More sharing options...
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