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UCGal
Participant[quote=CDMA ENG]
If you didn’t notice that is the man who plays “Silent Bob”… He just needs to STFU on this one as well. 😛CE[/quote]
LOL – they showed Kevin Smith’s picture because he was kicked off a southwest plane early this year for being too fat. He’d bought 2 seats – but was trying to go standby on an earlier flight seated standby on an earlier flight and they bumped him for being too fat.
Participant[quote=CDMA ENG]
If you didn’t notice that is the man who plays “Silent Bob”… He just needs to STFU on this one as well. 😛CE[/quote]
LOL – they showed Kevin Smith’s picture because he was kicked off a southwest plane early this year for being too fat. He’d bought 2 seats – but was trying to go standby on an earlier flight seated standby on an earlier flight and they bumped him for being too fat.
Participant[quote=bearishgurl][quote=four walling]I tried to cancel my Discover card a couple of weeks ago because I never use it. I was willing to take the hit on my FICO due to a smaller amount of revolving credit availability if I got rid of it.
Discover threw 3 people at me to try to convince me to keep it open. I agreed to do so just in the interest of saving time-it is a lot of work trying to close a credit card account.
I rewarded their effort by spending $37 with it.
The lesson learned is that no credit card company will ever make people pay to use their card even if they pay off the balance monthly and espcially if they have a client with a superior credit history.
That is important to keep in mind if somebody wants to charge you for the priveledge of carrying their card.[/quote]
I disagree on the Rewards cards, four walling. When you can transfer purchase points to air mileage, car rentals, hotels and just about anything else, including your kid who needs enough points for a flight, these services can be VERY valuable, IMO. Many give two free RT plane tickets just for signing up and using the card once. You also get preferential seating at concerts and events when using the card to purchase tickets.
These cards are typically marketed only to people with very good and excellent credit. With AMEX, outstanding balances have to be paid in full until you are a “seasoned cardholder” at which time you can get deferral privileges on large purchases and travel expenses.
Rewards programs (including “cash-back” for points) are a great way to get more bang for your buck and are WORTH a nominal $150 to $175 per yr. There are too many services offered and available to the cardholder for this fee to be eliminated.
Fees above that only make sense for a VERY frequent traveler and/or high-level outside salesperson. The rest of humanity has no need for the type of perks that these high annual-fee cards offer, IMO.
I use a Rewards card to pay most monthly bills, pay it off every month and . . . well, use the rewards! Got a free hotel night coming right now (up to $108). I’ve used (or given away) five free round trip plane tickets in the last year and several cash rebates of $25 each from another rewards card (which has NO annual fee).[/quote]
A couple of points to make here.
* Amex has changed from it’s old “pay in full” model – it’s a pretty standard revolving credit card now. Even newly issued cards have ‘minimum payments’ etc… This changed about a decade ago.* If you get your Amex through Costco – they waive the annual fee. And give cash back. No point conversion – just a check in the mail once a year. It’s one of the best deals ever since cash can be used for anything – not just travel. You can use it to pay your mortgage or rent if you want. The only hassle is the cash back has to be cashed in at Costco… But that’s not an issue for me since I go there regularly anyway.
Participant[quote=bearishgurl][quote=four walling]I tried to cancel my Discover card a couple of weeks ago because I never use it. I was willing to take the hit on my FICO due to a smaller amount of revolving credit availability if I got rid of it.
Discover threw 3 people at me to try to convince me to keep it open. I agreed to do so just in the interest of saving time-it is a lot of work trying to close a credit card account.
I rewarded their effort by spending $37 with it.
The lesson learned is that no credit card company will ever make people pay to use their card even if they pay off the balance monthly and espcially if they have a client with a superior credit history.
That is important to keep in mind if somebody wants to charge you for the priveledge of carrying their card.[/quote]
I disagree on the Rewards cards, four walling. When you can transfer purchase points to air mileage, car rentals, hotels and just about anything else, including your kid who needs enough points for a flight, these services can be VERY valuable, IMO. Many give two free RT plane tickets just for signing up and using the card once. You also get preferential seating at concerts and events when using the card to purchase tickets.
These cards are typically marketed only to people with very good and excellent credit. With AMEX, outstanding balances have to be paid in full until you are a “seasoned cardholder” at which time you can get deferral privileges on large purchases and travel expenses.
Rewards programs (including “cash-back” for points) are a great way to get more bang for your buck and are WORTH a nominal $150 to $175 per yr. There are too many services offered and available to the cardholder for this fee to be eliminated.
Fees above that only make sense for a VERY frequent traveler and/or high-level outside salesperson. The rest of humanity has no need for the type of perks that these high annual-fee cards offer, IMO.
I use a Rewards card to pay most monthly bills, pay it off every month and . . . well, use the rewards! Got a free hotel night coming right now (up to $108). I’ve used (or given away) five free round trip plane tickets in the last year and several cash rebates of $25 each from another rewards card (which has NO annual fee).[/quote]
A couple of points to make here.
* Amex has changed from it’s old “pay in full” model – it’s a pretty standard revolving credit card now. Even newly issued cards have ‘minimum payments’ etc… This changed about a decade ago.* If you get your Amex through Costco – they waive the annual fee. And give cash back. No point conversion – just a check in the mail once a year. It’s one of the best deals ever since cash can be used for anything – not just travel. You can use it to pay your mortgage or rent if you want. The only hassle is the cash back has to be cashed in at Costco… But that’s not an issue for me since I go there regularly anyway.
Participant[quote=bearishgurl][quote=four walling]I tried to cancel my Discover card a couple of weeks ago because I never use it. I was willing to take the hit on my FICO due to a smaller amount of revolving credit availability if I got rid of it.
Discover threw 3 people at me to try to convince me to keep it open. I agreed to do so just in the interest of saving time-it is a lot of work trying to close a credit card account.
I rewarded their effort by spending $37 with it.
The lesson learned is that no credit card company will ever make people pay to use their card even if they pay off the balance monthly and espcially if they have a client with a superior credit history.
That is important to keep in mind if somebody wants to charge you for the priveledge of carrying their card.[/quote]
I disagree on the Rewards cards, four walling. When you can transfer purchase points to air mileage, car rentals, hotels and just about anything else, including your kid who needs enough points for a flight, these services can be VERY valuable, IMO. Many give two free RT plane tickets just for signing up and using the card once. You also get preferential seating at concerts and events when using the card to purchase tickets.
These cards are typically marketed only to people with very good and excellent credit. With AMEX, outstanding balances have to be paid in full until you are a “seasoned cardholder” at which time you can get deferral privileges on large purchases and travel expenses.
Rewards programs (including “cash-back” for points) are a great way to get more bang for your buck and are WORTH a nominal $150 to $175 per yr. There are too many services offered and available to the cardholder for this fee to be eliminated.
Fees above that only make sense for a VERY frequent traveler and/or high-level outside salesperson. The rest of humanity has no need for the type of perks that these high annual-fee cards offer, IMO.
I use a Rewards card to pay most monthly bills, pay it off every month and . . . well, use the rewards! Got a free hotel night coming right now (up to $108). I’ve used (or given away) five free round trip plane tickets in the last year and several cash rebates of $25 each from another rewards card (which has NO annual fee).[/quote]
A couple of points to make here.
* Amex has changed from it’s old “pay in full” model – it’s a pretty standard revolving credit card now. Even newly issued cards have ‘minimum payments’ etc… This changed about a decade ago.* If you get your Amex through Costco – they waive the annual fee. And give cash back. No point conversion – just a check in the mail once a year. It’s one of the best deals ever since cash can be used for anything – not just travel. You can use it to pay your mortgage or rent if you want. The only hassle is the cash back has to be cashed in at Costco… But that’s not an issue for me since I go there regularly anyway.
Participant[quote=bearishgurl][quote=four walling]I tried to cancel my Discover card a couple of weeks ago because I never use it. I was willing to take the hit on my FICO due to a smaller amount of revolving credit availability if I got rid of it.
Discover threw 3 people at me to try to convince me to keep it open. I agreed to do so just in the interest of saving time-it is a lot of work trying to close a credit card account.
I rewarded their effort by spending $37 with it.
The lesson learned is that no credit card company will ever make people pay to use their card even if they pay off the balance monthly and espcially if they have a client with a superior credit history.
That is important to keep in mind if somebody wants to charge you for the priveledge of carrying their card.[/quote]
I disagree on the Rewards cards, four walling. When you can transfer purchase points to air mileage, car rentals, hotels and just about anything else, including your kid who needs enough points for a flight, these services can be VERY valuable, IMO. Many give two free RT plane tickets just for signing up and using the card once. You also get preferential seating at concerts and events when using the card to purchase tickets.
These cards are typically marketed only to people with very good and excellent credit. With AMEX, outstanding balances have to be paid in full until you are a “seasoned cardholder” at which time you can get deferral privileges on large purchases and travel expenses.
Rewards programs (including “cash-back” for points) are a great way to get more bang for your buck and are WORTH a nominal $150 to $175 per yr. There are too many services offered and available to the cardholder for this fee to be eliminated.
Fees above that only make sense for a VERY frequent traveler and/or high-level outside salesperson. The rest of humanity has no need for the type of perks that these high annual-fee cards offer, IMO.
I use a Rewards card to pay most monthly bills, pay it off every month and . . . well, use the rewards! Got a free hotel night coming right now (up to $108). I’ve used (or given away) five free round trip plane tickets in the last year and several cash rebates of $25 each from another rewards card (which has NO annual fee).[/quote]
A couple of points to make here.
* Amex has changed from it’s old “pay in full” model – it’s a pretty standard revolving credit card now. Even newly issued cards have ‘minimum payments’ etc… This changed about a decade ago.* If you get your Amex through Costco – they waive the annual fee. And give cash back. No point conversion – just a check in the mail once a year. It’s one of the best deals ever since cash can be used for anything – not just travel. You can use it to pay your mortgage or rent if you want. The only hassle is the cash back has to be cashed in at Costco… But that’s not an issue for me since I go there regularly anyway.
Participant[quote=bearishgurl][quote=four walling]I tried to cancel my Discover card a couple of weeks ago because I never use it. I was willing to take the hit on my FICO due to a smaller amount of revolving credit availability if I got rid of it.
Discover threw 3 people at me to try to convince me to keep it open. I agreed to do so just in the interest of saving time-it is a lot of work trying to close a credit card account.
I rewarded their effort by spending $37 with it.
The lesson learned is that no credit card company will ever make people pay to use their card even if they pay off the balance monthly and espcially if they have a client with a superior credit history.
That is important to keep in mind if somebody wants to charge you for the priveledge of carrying their card.[/quote]
I disagree on the Rewards cards, four walling. When you can transfer purchase points to air mileage, car rentals, hotels and just about anything else, including your kid who needs enough points for a flight, these services can be VERY valuable, IMO. Many give two free RT plane tickets just for signing up and using the card once. You also get preferential seating at concerts and events when using the card to purchase tickets.
These cards are typically marketed only to people with very good and excellent credit. With AMEX, outstanding balances have to be paid in full until you are a “seasoned cardholder” at which time you can get deferral privileges on large purchases and travel expenses.
Rewards programs (including “cash-back” for points) are a great way to get more bang for your buck and are WORTH a nominal $150 to $175 per yr. There are too many services offered and available to the cardholder for this fee to be eliminated.
Fees above that only make sense for a VERY frequent traveler and/or high-level outside salesperson. The rest of humanity has no need for the type of perks that these high annual-fee cards offer, IMO.
I use a Rewards card to pay most monthly bills, pay it off every month and . . . well, use the rewards! Got a free hotel night coming right now (up to $108). I’ve used (or given away) five free round trip plane tickets in the last year and several cash rebates of $25 each from another rewards card (which has NO annual fee).[/quote]
A couple of points to make here.
* Amex has changed from it’s old “pay in full” model – it’s a pretty standard revolving credit card now. Even newly issued cards have ‘minimum payments’ etc… This changed about a decade ago.* If you get your Amex through Costco – they waive the annual fee. And give cash back. No point conversion – just a check in the mail once a year. It’s one of the best deals ever since cash can be used for anything – not just travel. You can use it to pay your mortgage or rent if you want. The only hassle is the cash back has to be cashed in at Costco… But that’s not an issue for me since I go there regularly anyway.
Participant[quote=lepetitangel]
I want to use this money as part of my downpay for a house in the next 6-month~2 years. With this in mind, would you recommend me keeping it in the stock market? Is that not enough time to get a solid return? Is it a worse idea to put into housing but hubby and I will need a SFH or larger townhome (we currently own a condo/townhome) when we want to have kids.
[/quote]Given your relatively short horizon, I would keep the money in cash or cash equivalent form.
The advice against gold is valid, IMO… It’s a commodity and can/will have fluctuation/risk.
There are CDs that are paying 2%… it’s not a lot, but it’s something. I’ve been putting my “emergency money” in the highest APR yield CDs I can find at SDCCU. I asked about the penalties for early withdrawal and worst case you give up 180 days worth of interest (principal is untouched). If it’s less than 1 year when you pull the money it’s a 90 day interest hit. Your principal is FDIC insured. You CAN pull the money out whenever you want if you forfeit some of the interest earnings. I’m not sure if all banks work this way – but I just grilled the sdccu person this week because I was figuring out what I’d do if interest rates go up.
Since you say you need the money in the next 6 to 24 months – I would not risk it in the markets (commodity, bond, stock)… Unless you’re willing to lose some of the principal.
Participant[quote=lepetitangel]
I want to use this money as part of my downpay for a house in the next 6-month~2 years. With this in mind, would you recommend me keeping it in the stock market? Is that not enough time to get a solid return? Is it a worse idea to put into housing but hubby and I will need a SFH or larger townhome (we currently own a condo/townhome) when we want to have kids.
[/quote]Given your relatively short horizon, I would keep the money in cash or cash equivalent form.
The advice against gold is valid, IMO… It’s a commodity and can/will have fluctuation/risk.
There are CDs that are paying 2%… it’s not a lot, but it’s something. I’ve been putting my “emergency money” in the highest APR yield CDs I can find at SDCCU. I asked about the penalties for early withdrawal and worst case you give up 180 days worth of interest (principal is untouched). If it’s less than 1 year when you pull the money it’s a 90 day interest hit. Your principal is FDIC insured. You CAN pull the money out whenever you want if you forfeit some of the interest earnings. I’m not sure if all banks work this way – but I just grilled the sdccu person this week because I was figuring out what I’d do if interest rates go up.
Since you say you need the money in the next 6 to 24 months – I would not risk it in the markets (commodity, bond, stock)… Unless you’re willing to lose some of the principal.
Participant[quote=lepetitangel]
I want to use this money as part of my downpay for a house in the next 6-month~2 years. With this in mind, would you recommend me keeping it in the stock market? Is that not enough time to get a solid return? Is it a worse idea to put into housing but hubby and I will need a SFH or larger townhome (we currently own a condo/townhome) when we want to have kids.
[/quote]Given your relatively short horizon, I would keep the money in cash or cash equivalent form.
The advice against gold is valid, IMO… It’s a commodity and can/will have fluctuation/risk.
There are CDs that are paying 2%… it’s not a lot, but it’s something. I’ve been putting my “emergency money” in the highest APR yield CDs I can find at SDCCU. I asked about the penalties for early withdrawal and worst case you give up 180 days worth of interest (principal is untouched). If it’s less than 1 year when you pull the money it’s a 90 day interest hit. Your principal is FDIC insured. You CAN pull the money out whenever you want if you forfeit some of the interest earnings. I’m not sure if all banks work this way – but I just grilled the sdccu person this week because I was figuring out what I’d do if interest rates go up.
Since you say you need the money in the next 6 to 24 months – I would not risk it in the markets (commodity, bond, stock)… Unless you’re willing to lose some of the principal.
Participant[quote=lepetitangel]
I want to use this money as part of my downpay for a house in the next 6-month~2 years. With this in mind, would you recommend me keeping it in the stock market? Is that not enough time to get a solid return? Is it a worse idea to put into housing but hubby and I will need a SFH or larger townhome (we currently own a condo/townhome) when we want to have kids.
[/quote]Given your relatively short horizon, I would keep the money in cash or cash equivalent form.
The advice against gold is valid, IMO… It’s a commodity and can/will have fluctuation/risk.
There are CDs that are paying 2%… it’s not a lot, but it’s something. I’ve been putting my “emergency money” in the highest APR yield CDs I can find at SDCCU. I asked about the penalties for early withdrawal and worst case you give up 180 days worth of interest (principal is untouched). If it’s less than 1 year when you pull the money it’s a 90 day interest hit. Your principal is FDIC insured. You CAN pull the money out whenever you want if you forfeit some of the interest earnings. I’m not sure if all banks work this way – but I just grilled the sdccu person this week because I was figuring out what I’d do if interest rates go up.
Since you say you need the money in the next 6 to 24 months – I would not risk it in the markets (commodity, bond, stock)… Unless you’re willing to lose some of the principal.
Participant[quote=lepetitangel]
I want to use this money as part of my downpay for a house in the next 6-month~2 years. With this in mind, would you recommend me keeping it in the stock market? Is that not enough time to get a solid return? Is it a worse idea to put into housing but hubby and I will need a SFH or larger townhome (we currently own a condo/townhome) when we want to have kids.
[/quote]Given your relatively short horizon, I would keep the money in cash or cash equivalent form.
The advice against gold is valid, IMO… It’s a commodity and can/will have fluctuation/risk.
There are CDs that are paying 2%… it’s not a lot, but it’s something. I’ve been putting my “emergency money” in the highest APR yield CDs I can find at SDCCU. I asked about the penalties for early withdrawal and worst case you give up 180 days worth of interest (principal is untouched). If it’s less than 1 year when you pull the money it’s a 90 day interest hit. Your principal is FDIC insured. You CAN pull the money out whenever you want if you forfeit some of the interest earnings. I’m not sure if all banks work this way – but I just grilled the sdccu person this week because I was figuring out what I’d do if interest rates go up.
Since you say you need the money in the next 6 to 24 months – I would not risk it in the markets (commodity, bond, stock)… Unless you’re willing to lose some of the principal.
Participant[quote=Nor-LA-SD-guy]
In the seventies the boomers were just starting to enter the Job and housing market driving demand and worker supply through the roof which was one of the main causes of inflation , and back in those days 7 out of 10 people were union workers so they got cost of living raises every year to 6 months (we were getting 15-18% inflation and raises back then).
[/quote]Do you have anything to back up the 7 in 10 workers were union figure. I searched and only found data back to 1983… about 20%, 1 in 5, workers were union then.
http://www.bls.gov/opub/mlr/2008/10/art3full.pdfAnd this table shows 26.4% of non-agricultural workers were union in 1975. Even if you put 100% of agricultural workers into the “union” category (which is unrealistic) you don’t get 70%.
http://eh.net/encyclopedia/article/friedman.unions.usI’d say that 1 in 4 workers being union in the 70’s is probably a more accurate figure. Pushing it maybe 1 in 3… but not 7 out of 10.
Participant[quote=Nor-LA-SD-guy]
In the seventies the boomers were just starting to enter the Job and housing market driving demand and worker supply through the roof which was one of the main causes of inflation , and back in those days 7 out of 10 people were union workers so they got cost of living raises every year to 6 months (we were getting 15-18% inflation and raises back then).
[/quote]Do you have anything to back up the 7 in 10 workers were union figure. I searched and only found data back to 1983… about 20%, 1 in 5, workers were union then.
http://www.bls.gov/opub/mlr/2008/10/art3full.pdfAnd this table shows 26.4% of non-agricultural workers were union in 1975. Even if you put 100% of agricultural workers into the “union” category (which is unrealistic) you don’t get 70%.
http://eh.net/encyclopedia/article/friedman.unions.usI’d say that 1 in 4 workers being union in the 70’s is probably a more accurate figure. Pushing it maybe 1 in 3… but not 7 out of 10.
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