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  1. All, When I get home I'll get the other part of the contract up...I can assure you, the wording locks you in and the rep was very specific when she said the terms. Keep in mind, interest in NOT considered a penalty.
  2. The title should be but I cannot edit it: This is how people who don't understand (or don't read agreements) get trapped, what a gimmic! So we are doing some renovations on our house, one of the things we are doing, or I should say is now done is our roof. Anyway the roof cost just under 14K. At the time the roofing company was offering a no payment, 0% for 12 month offer so of course I go for it, approved instantly for a line of 20k. As the lady was reading the terms to me I was stunned at what she said, actually did not believe what she said at 1st but in fact she was correct as I studied the documents. So as stated the loan is for up to 20K (you use what you need within a 4 month period). The clock starts running with the 1st charge and from that point you have 12 months of no interest and no payments, so in my case the 1st charge was 9/1/2015 so I have until 8/31/16 to pay and not incur any interest. BUT here is where is gets crazy: If there is any balance left on 9/1/2016 not only do you get charged the accrued interest for 2015-2016 you are locked in AUTOMATICALLY to an 84 month payment term on the balance and you cannot pay early unless you pay the full balance PLUS 84 months of interest. So for those of you that don't understand what I am saying. Let’s assume I took the full 20K out (using this amount since the pic below shows the details) and I pay nothing against it the 1st year. On day 366 the loan automatically converts to an 84 month installment loan that cannot be paid early unless you pay the original 20k PLUS $18,897.88 of interest that would accrue over the 84 months for a whopping total of $38,897.88. I do credit for a living, I've seen many agreements but have NEVER come across anything like this, it’s almost criminal. I feel bad for the people needing a loan and either not fully understanding the loan or just forgetting to pay or procrastinating because in the end you can really get screwed. This is a summary of the plan: Promotion Details Plan 3128. 84 payments. Beginning with 1st transaction, 12 month promo period with no payments required followed by 84 amortized payments based on the balance at the end of promo. Interest charged to account is waived if entire purchase balance is paid before the end of promo period. No prepayment penalty. APR stated in your loan agreement fixed for life of loan.
  3. Damn you caught me, can I please have my 1K back?
  4. So to Amex: Out of curiosity, how much did you burn them for? Sent from my iPad using Tapatalk HD American Express $2,193.55 American Express Optima $17,292.64
  5. Even with close to 900K in credit lines, close to perfect credit scores and a net worth of close to 500K Amex refuses to forget that I BK'd them in 99. I've tried at lease 50 apps over the past 3 years and all come back with the famous: So to Amex:
  6. Thanks, just what I needed to know. I guess this will suffer the same faith as my other approvals......the shredder. Sent from my iPhone using Tapatalk
  7. Received the below offer today, 1st offer ever from US Bank. I obviously don't need the card but 5% on the 1st 2k I spend every quarter on the "category I choose" has me interested as I would just choose gas and groceries most quarters (change as needed). Oh and then there is the $100 bonus for spending $500, this is a nice treat, lol. I really don't know much about US bank and really don't want a flaky creditor. So what say you, what’s your opinion on US bank?
  8. ATM - If your checking account is at $0 it will pull from the CLOC, same goes with purchased with the visa Debit card.
  9. I've been using Roboforms for about 8 years now, I cannot picture life without it. I have hundreds of saved passswords (all randomly chosen by the generator) and know hardly any of them thanks to Roboforms. http://www.roboform.com/lp?frm=rfp-014&affid=egs30&dc=egs30&gclid=CjwKEAjwq-OsBRDd95aryprR9wQSJACQnU3GT2yi87QWwqNALycnbWsxvDnIIyEgAr25lCkaHds07BoCMj7w_wcB
  10. I disagree. When you sign that application whether in person or online you are saying / agreeing you are that person. Sent from my iPhone using Tapatalk I agree with shifter. The sister is operating as an agent for the wife when she opens and uses a credit card in the wife's name. It's called power of attorney. The sister operates as an agent of the wife. To protect herself the sister should have it in writing. Standard language in T&Cs states you are responsible for debts from your use of a CC or anyone else you allow to use it. A court would interpret it the same way, not as fraud. It becomes fraud if the wife disavows authorizing the card's use and the fraudster would be the wife. She obviously wasn't paying attention to what her sister was doing. The wife has a claim against her sister but the CC issuers will hold the wife liable because she authorized the extension of credit and allowed the sister to use said credit. I'm no attorney so maybe you guys are right but it just seems like fraud to me. Either way this is one of the more bone head things I've seen, the OP and his wife are in deep and the only way out is to help pay the debt or go BK. I don't see how legal action against the sister would even be an option since she let her do it.
  11. I disagree. When you sign that application whether in person or online you are saying / agreeing you are that person. Sent from my iPhone using Tapatalk
  12. I posted in the OP other thread. The wife gave permission so this is not ID theft, this is flat out FRAUD!
  13. I was going to say this is ID theft but I guess it's not since your wife gave permission although I do think it some sort of fraud. 1- Not sure what you can do here other they start paying off the balances. 2- Again this is fraud IMO (since you wife gave opermission to use her info) so I'd thread lightly here 3- No and nothing 4- Who cares at this point 5- I BIG NO
  14. 6K to 50K is awesome. Thanks for sharing your experience. I think i'll bump my CLI to 50K vs 30K. Still waiting on my card. Nyrfann, did you call the activation # to request CLI? Or did you call a special backdoor #? Did you request for a special underwriter or will the 1st CSR do? I want to make sure I talk to the right person and not waste a hard pull. Thanks! I just call the # on the back on the card (they'll take your request) and then get you to the credit analyst for his/her review. Either way you WILL get a hard pull.
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