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Everything posted by cashnocredit

  1. Anyone know what the vigorish is for the biz's that offer BNPL? Looks like they are high margin operations. Of course the biz model is to hype the stock value and take in new investors and cash out before the party ends. I've seen this movie before.
  2. Facing numerous federal investigations into its PPP lending practices, Kabbage or, to be more accurate, the shell of what was once Kabbage, filed for bankruptcy this week. Facing federal PPP fraud investigations, online lender Kabbage files for bankruptcy (msn.com)
  3. https://www.msn.com/en-us/health/pregnancyparenting/college-professors-share-with-us-what-students-definitely-don-t-understand-about-your-job/ar-AA12vYN5 Oh boy.
  4. Yep, but it doesn't mean much. 10 years or so ago I asked Chase for CLI. The agent paused then asked my about my employment. I said I was retired. He then asked how long ago and I said 10 years. CLI granted. None of my credit reports have ever shown an employer. Past or present. Probably because the last time I'd applied for credit before I retired was in the late 70's. The comment above has been the only time anyone has even commented on it.
  5. For the last week we've had a group of 5 deer strolling through the back yard in late afternoon 50' from our window. A doe and one with newish, short antlers. The others are smaller and might be older youngsters. They hang out about 1/2 hour then move on. Lightly munch on the rose bushes and a lime tree.
  6. I owe my soul to the company store. - Tennessee Ernie Ford.
  7. The last one from AMEX I recall was 30k at 5.99% about a month ago. I need a loan like I need a hole in the head. And siince I've been retired 20 years, if I needed a loan no one in their right mind should give me one.
  8. About the CC fraud? Pretty sure the brother can deal with this. Laws are straightforward and he's well within cc SOL. If the estate issues. There aren't any. The main difference between intestate division and what the sister desperately wanted to do was to make sure a more distant relative's family she was close to was helped out. Hence the wife's getting an estate lawyer to make sure her wishes were set up. Net result is that my wife and her siblings get somewhat less than an intestate division because that would have just split things with the siblings. The brother handled their parents trust so he's pretty familiar with the process.
  9. Right now the executor (her brother) is trying to make sure everything is accounted for and getting her condo sold. Complicated because he lives in a different state so is working with lots of others. One is under contract but these things sometimes fall through. He may file a police report when he has time. First I've made sure he disputes the charges as fraud with the bank and notifies Experian. They will notify the other CRAs. Needs to pull a report to make sure no one else is opening accounts in her name. Apparently that is a thing with people scouring obits for names. Wife is feeling sad remembering her sister's visit in May. We were both worried about her at the time. Still, the two sisters got along great the time she was here. Not always the case in the past. Lots of mixed emotions. Wife did right by her by getting a lawyer and making sure she had her estate go to those she wanted, not just her siblings which would have happened otherrwise under the intestate laws. Proud of her.
  10. She had a few other family visitors but most of the people there were fixing up the place to make it habitalble. She was a horder and there was a lot of work to do. My wife did most of this. There were also some 7/24 hospice care folks. Wife can't believe they would do this but wh knows. My wife was able to get an atty. to come in and draw up a trust/will to do what her sister wanted while she still had her wits. She wanted to give various things to friends and that wouldn't have happened if she had died intestate. th
  11. My wife's sister died back in July. She was in home hospice briefly with a rare, endocrine, disease. Quite unexpected because she had just visited us a month earlier. The next month her credit card was used to purchase a lot of odds and ends totaling about 20 purchases for just under $2k. She lived about 500 mi. from us and my wife had traveled up there twice to help her out and arrange for home hospice, and once more after she died. No idea where her credit card is or was. We didn't think about that at the time. Actions: Another sibling is dealing with the estate and trust and I have forwarded a link to CRAs to report the death. Apparently the SSA takes a really long time to notify the CRAs so best to do it directly. Also, the CC statement which has the clearly fraudulent charges that were initiated about 3+ weeks after the sister died. The CC statement has instructions for disputing those charges. That's being done. Optionally, a police report could be filed but not required since the charges occurred well after the death. OTOH, It's really disgusting someone would do this and it's obviously someone that had access to her home and knew here serious condition. Probably not enough to get law enforcement's attention if she did file a report. Any suggestions? Not something I've ever encountered before.
  12. Updated dates posted are 10 years ago. ???
  13. I put in solar back in 2009. The contractors screwed up and it wound up at 14 degrees slope instead of 28 degrees. Didn't realize it until after it was completed so I did the obvious thing. I wrote a program to analyze the impact of the lower slope over a full year. Turns out it produces about 4% less energy overall but is skewed towards more in the summer and less in the winter. Since most of my use is AC, and that's a lot bigger drain in the summer everything worked out well. Especially after SDGE switched to time of use. And the lower slope is less visually intrusive. I would have opted for the 14 degrees given the choice. I typically run about -$100/y so I get paid. Big difference from the >$1k/mo I used to pay SDGE. After subtracting the initial capital cost, my net savings is now over $20,000. Sometimes you can't beat luck.
  14. I don't see anything wrong. A demand letter from an atty for the debt normally precedes a lawsuit. Might affect reporting of the debt to CRAs though since you disputed the debt and they didn't respond to the dispute. But yeah, they can sue.
  15. Scammers are posing as fake recruiters, conducting staged interviews - and hiring - as part of an ID theft scheme. https://www.msn.com/en-us/money/careersandeducation/scammers-are-posing-as-fake-recruiters-conducting-staged-interviews-and-hiring-as-part-of-an-id-theft-scheme-here-s-how-to-avoid-getting-swindled/ar-AA1194Fu Got banking info and driver's license.
  16. DR???? His advice on the optimal number of credit cards is 0. It's like consulting a mortician on how to treat back pain.
  17. As @centex says, do the math. If you do it's almost certain a transfer will cost more overall. Try to pay down balances with payments that are 2x to 3x the minimums. It's well established that credit risk is substantially lower for those that do that. Even though it may not affect classic FICO scores, newer ones that are trend based do improve. Also, many of the CC issuers have internal scores that take note of this. What you want to do is get down to the point you are paying off the balance before the due date. When that happens you pay no interest at all. This is true of almost all credit cards except for a tiny number of bottome feeders. Read your statement T&Cs to make sure you don't have any of these and if you do, don't charge anything on them.
  18. Not long after I opened a Chase bank account, someone charged $100 on the debit card. I also had never used or carried the debit card. I found out by just checking my account online. There was no fraud notification. Called chase and closed the card and ordered an ATM only card. Turned out someone had just made up a debit card number and expy date using knowledge of the sequence of card numbers/dates Chase had used. Didn't even have my name. Just used the card number. It was for an overnight camping stay so manual charge. This was over 10 years ago and I haven't seen any CC or debit card fraud since.
  19. Three Key Facts from the Center for Microeconomic Data's 2022 Student Loan Update - Liberty Street Economics (newyorkfed.org) Detailed report showing transitions amongst student loan holders during pandemic and loan freeze. Here's the headlines for the main points. Fact 1: More borrowers are facing growing balances Fact 2: Credit scores for student loan borrowers increased dramatically during the pandemic Fact 3: Student loan balances and delinquency rates vary widely across states with worse outcomes in the South Pretty interesting student loan analysis by the New York Fed.
  20. No, that's completely wrong. There has never been a credit scoring algorithm that scored 30% util higher than 10% util. He may be a banker but he knows squat about credit scoring. The problem is that BK always makes a big, negative, impact on credit scores so even with the lowest utilization, scores simply won't improve much. The best is to have all but one or two of your credit cards posting 0 balance and have small (< 2%) utilization on those. Having no reported balance on all credit cards hurst scores.
  21. I have a WF debit card that says "Customer since 1977" which is when I closed my BA account and opened WF after moving to San Diego. The reasons I closed BA were: 1. a BA teller suggested I'd initialialed a deposit entry for a check I deposited when they had lost track of the check and started bouncing checks I wrote. I found it after complaining when they said I could look through a drawer full of vairous checks from who knows where. One of them was the check I'd deposited. 2. WF had and has a huge number of ATMs all over the place so super convenient for getting spending cash. I've never had any issue with WF. Even had an arrangement with them where I could wire money with just a phone call back when I was doing that with some frequency.
  22. The problem with crypto is the third parties. When you have a hot wallet you are lending the third parties that crypto. Just like putting money in a bank. You are lending the bank your money. Banks are highly regulated. And FDIC insurured. Crypto third parties are not.
  23. If that's the case then you have a good defense should they try to collect. However, the fact the CC issuer reversed the charges is now irrelevant. It's between you and the merchant.
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