"JohnH" wrote in message
...
On Sat, 6 Dec 2008 08:33:40 -0500, "D.Duck" wrote:


"JohnH" wrote in message
. ..
On Fri, 5 Dec 2008 11:26:55 -0500, "Eisboch"
wrote:

Help me out here.

I hear the economy is frozen. Banks won't lend. No mortgages.
Hoarding
their bailout money.

Yet, virtually every commercial break on MSNBC or CNN features at least
one
pitch from a major bank or a mortgage company (Ditech comes to mind,
which
is a GMAC subsidiary) offering low interests mortgages, loans and "we
have
money to lend" announcements.

So, why aren't they lending? Seems to me that this would be an ideal
time
for people to re-finance for lower rates, etc.

Economics confuses me.

Eisboch



I applied for an LL Bean card over the internet last week. I filled out
the
application, hit the button, and was approved within about seven
seconds.
For $31,000! Hell, all I wanted was free shipping and monogramming.

Don't ask me what's going on. I think the liberals just want to bitch
about
banks and anything that's non-union. It'll all get fixed when Obama
takes
office.
--
John H.

Not really a good idea to open a lot of credit accounts for the sake of
free
shipping, etc. It can affect your FICO score negatively.


You get to a point in life where you don't really worry about your FICO
score. I'm there.

Anyone looking at the two credit cards I carry would never see a dime's
worth of interest paid to either company.

I've actually got a pretty good score, for a guy who was stupid enough to
get drafted.
--
John H.

I'm pretty much in the same position. I haven't had a loan payment in over
20 years (FICO now 800+) and hopefully won't need one again in this
lifetime. For those that will need credit, the extra baggage on the credit
report won't help.