Comments on: My Bank Sent Me a Letter http://beingfrugal.net/2008/01/16/my-bank-sent-me-a-letter/ Saving money and getting out of debt from a Christian SAHM perspective Fri, 19 Mar 2010 19:23:39 -0700 http://wordpress.org/?v=abc hourly 1 By: vh http://beingfrugal.net/2008/01/16/my-bank-sent-me-a-letter/comment-page-1/#comment-3727 vh Wed, 23 Jan 2008 06:05:11 +0000 http://beingfrugal.net/2008/01/16/my-bank-sent-me-a-letter/#comment-3727 Have you ever succeeded in getting a credit card issuer--or the issuer of a home equity loan or a line of credit!--to STOP sending those darn blank checks? After months of repeatedly trying out "opt out" with one lender, I had to threaten to complain to the federal banking commission to get them to quit it. Anyone can steal those things out of your mailbox and run up a nice debt against your line of credit. Then you get stuck with the debt and with the interest on it. Or with a gigantic hassle to get out of the mess. Have you ever succeeded in getting a credit card issuer–or the issuer of a home equity loan or a line of credit!–to STOP sending those darn blank checks? After months of repeatedly trying out “opt out” with one lender, I had to threaten to complain to the federal banking commission to get them to quit it.

Anyone can steal those things out of your mailbox and run up a nice debt against your line of credit. Then you get stuck with the debt and with the interest on it. Or with a gigantic hassle to get out of the mess.

]]> By: I’m On Hold with Sprint Roundup | My Dollar Plan http://beingfrugal.net/2008/01/16/my-bank-sent-me-a-letter/comment-page-1/#comment-3702 I’m On Hold with Sprint Roundup | My Dollar Plan Tue, 22 Jan 2008 15:01:38 +0000 http://beingfrugal.net/2008/01/16/my-bank-sent-me-a-letter/#comment-3702 [...] My Bank Sent Me a Letter @ Being Frugal [...] [...] My Bank Sent Me a Letter @ Being Frugal [...]

]]> By: Carnival of Debt Reduction #123 - One Two Threes of Debt Reduction! — The Baglady http://beingfrugal.net/2008/01/16/my-bank-sent-me-a-letter/comment-page-1/#comment-3660 Carnival of Debt Reduction #123 - One Two Threes of Debt Reduction! — The Baglady Mon, 21 Jan 2008 07:31:11 +0000 http://beingfrugal.net/2008/01/16/my-bank-sent-me-a-letter/#comment-3660 [...] presents My Bank Sent Me a Letter posted at beingfrugal.net - “I received a letter from my bank, along with some convenience [...] [...] presents My Bank Sent Me a Letter posted at beingfrugal.net – “I received a letter from my bank, along with some convenience [...]

]]> By: Sunday Morning Link Love ~ Scrapbooking Edition | I've Paid For This Twice Already... http://beingfrugal.net/2008/01/16/my-bank-sent-me-a-letter/comment-page-1/#comment-3642 Sunday Morning Link Love ~ Scrapbooking Edition | I've Paid For This Twice Already... Sun, 20 Jan 2008 15:39:51 +0000 http://beingfrugal.net/2008/01/16/my-bank-sent-me-a-letter/#comment-3642 [...] Frugal: My Bank Sent Me A Letter. I love how Lynnae breaks down the economics of how this deal [...] [...] Frugal: My Bank Sent Me A Letter. I love how Lynnae breaks down the economics of how this deal [...]

]]> By: Sunday Money Roundup - Baseball Starts Again Edition. | My Two Dollars http://beingfrugal.net/2008/01/16/my-bank-sent-me-a-letter/comment-page-1/#comment-3641 Sunday Money Roundup - Baseball Starts Again Edition. | My Two Dollars Sun, 20 Jan 2008 15:01:12 +0000 http://beingfrugal.net/2008/01/16/my-bank-sent-me-a-letter/#comment-3641 [...] Being Frugal gets a letter from her bank. [...] [...] Being Frugal gets a letter from her bank. [...]

]]> By: My Dollar Plan http://beingfrugal.net/2008/01/16/my-bank-sent-me-a-letter/comment-page-1/#comment-3608 My Dollar Plan Sat, 19 Jan 2008 03:36:18 +0000 http://beingfrugal.net/2008/01/16/my-bank-sent-me-a-letter/#comment-3608 @ Chuck: I'm currently running a $220k credit card arbitrage. I don't have it set up automatically to pay off at the end of the promo, but that's because I usually transfer it off to another card with another 0% promo. I have been working on putting together a list of 'what to do if I die' for my family:) @ Chuck: I’m currently running a $220k credit card arbitrage. I don’t have it set up automatically to pay off at the end of the promo, but that’s because I usually transfer it off to another card with another 0% promo. I have been working on putting together a list of ‘what to do if I die’ for my family:)

]]> By: Chuck http://beingfrugal.net/2008/01/16/my-bank-sent-me-a-letter/comment-page-1/#comment-3601 Chuck Fri, 18 Jan 2008 22:58:23 +0000 http://beingfrugal.net/2008/01/16/my-bank-sent-me-a-letter/#comment-3601 @Greg T. I personally don't fault people for making money with credit card arbitrage, but like others have stated here, I don't think I'm organized enough to make it work. But I do have a question. Do you guys who do it make arrangements to have the debt paid off (automatic transfer when promotional rate runs out, for instance?) in case you kick the bucket so you don't burden someone else with all that debt? @Greg T. I personally don’t fault people for making money with credit card arbitrage, but like others have stated here, I don’t think I’m organized enough to make it work. But I do have a question. Do you guys who do it make arrangements to have the debt paid off (automatic transfer when promotional rate runs out, for instance?) in case you kick the bucket so you don’t burden someone else with all that debt?

]]> By: Lynnae http://beingfrugal.net/2008/01/16/my-bank-sent-me-a-letter/comment-page-1/#comment-3600 Lynnae Fri, 18 Jan 2008 22:01:23 +0000 http://beingfrugal.net/2008/01/16/my-bank-sent-me-a-letter/#comment-3600 @deepali - Great idea! Wish I would have thought of that! I'll call and cancel all of the "extra" stuff right away! @deepali – Great idea! Wish I would have thought of that! I’ll call and cancel all of the “extra” stuff right away!

]]> By: deepali http://beingfrugal.net/2008/01/16/my-bank-sent-me-a-letter/comment-page-1/#comment-3598 deepali Fri, 18 Jan 2008 20:50:20 +0000 http://beingfrugal.net/2008/01/16/my-bank-sent-me-a-letter/#comment-3598 When I open a new credit card, I call them as soon as the card arrives (usually you have to call to activate), and tell them I'd like to opt out of all the mailings (convenience checks, all that "protection" stuff, etc). Then I don't have to deal with the madness, and the waste of paper. When I open a new credit card, I call them as soon as the card arrives (usually you have to call to activate), and tell them I’d like to opt out of all the mailings (convenience checks, all that “protection” stuff, etc). Then I don’t have to deal with the madness, and the waste of paper.

]]> By: Lynnae http://beingfrugal.net/2008/01/16/my-bank-sent-me-a-letter/comment-page-1/#comment-3570 Lynnae Fri, 18 Jan 2008 04:34:08 +0000 http://beingfrugal.net/2008/01/16/my-bank-sent-me-a-letter/#comment-3570 @Greg T. - It's the due diligence part I'd worry about. I'm not the most organized person in the world. I'm working on it, but I have a ways to go. Plus I'd worry about the credit card companies moving due dates around on me. That happened recently, and I got burned, even though I thought I was being a responsible consumer. @Greg T. – It’s the due diligence part I’d worry about. I’m not the most organized person in the world. I’m working on it, but I have a ways to go. Plus I’d worry about the credit card companies moving due dates around on me. That happened recently, and I got burned, even though I thought I was being a responsible consumer.

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