So, this thread really happened, huh?
Wow. I bailed on this thread a while ago. I don’t spend that much since I just graduated so I think I will go with the CHASE FREEDOM card.
Boss has an AMEX Black Card. It’s so sick. He travells a lot – just calls and tells them destination and dates and recieves an email confirm 15 minutes later. Restaurant reservations (used that number on a date once - very nice).
Yeh what are the requirements for the black card. I would assume making it rain is considered a baby step in that application process.
For future reference, you should never use the phrase “making it rain” in real life.
ohai Wrote: ------------------------------------------------------- > For future reference, you should never use the > phrase “making it rain” in real life. What if cloud seeding is one of your hobbies?
Nah, everyone loves to hear “makin’ it rain”, whether referring to basketball or business. People like when you keep it informal. I mean, “I manage $2 billion in equity assets” just sounds stilted and cocky. When I walk into a client meeting, especially for the more converstaional european clientele, I normally open with “Who dat?” if I don’t know somebody at the table. Then I star at them until it starts to get uncomfortable and say “from soup to nuts” and “win-win” a few times and then I “make it rain”.
higgmond Wrote: ------------------------------------------------------- > Ok. Unless you are talking about cloud seeding, or perhaps American Indian rain dance.
Seems to me “printing money” > “making it rain” - what’s the preferred nomenclature (we know it’s not chinaman)?
LPoulin133 Wrote: ------------------------------------------------------- > Seems to me “printing money” > “making it rain” - > what’s the preferred nomenclature (we know it’s > not chinaman)? “printing money” if you work in investment management, “making it rain” if you work for the Fed so that people do not get confused between your actual actions and what you purport those actions to be. Bernanke says “making it rain” all the time…also, in sales you “make it rain” while in HFT you “print money.”
ohai Wrote: ------------------------------------------------------- > higgmond Wrote: > -------------------------------------------------- > ----- > > > > Ok. Unless you are talking about cloud seeding, or > perhaps American Indian rain dance. Excellent. The only reason I got into cloud seeding was for the Friday afternoon chatter: Co-worker: “So Higgmond, what are you doing this weekend?” Higgmond: “Nothing special, just making it rain.” Co-worker: “Saturday or Sunday? I ask because I’m supposed to go to some stupid garden party with the GF on Sunday and would love to have it rained out.” Higgmond: “I was planning on Saturday, but no skin off my nose to make it Sunday. Consider it done.” Co-worker: “Thanks man, you’re the best!” Higgmond: “Yeah, I know.”
supersadface Wrote: ------------------------------------------------------- > justin88 Wrote: > -------------------------------------------------- > > Finally, missing one CC payment does not hurt > your > > credit appreciably, let alone “destroy” it. > > Occasionally missing payments makes you a great > > customer… > > Disagree with this part (at least the first bit). > On average, missing a credit card payment drops > your credit score by about a hundred points, > depending on the specific reporting bureau. Most > recent bill payments/misses are weighted very > heavily; the assumption is that they’re the most > timely information regarding your ability to pay. > A missed bill is more likely to be followed by > more missed bills (because the people who miss > bills due to finances being stretched typically > don’t miss just one). Justin meant to say “paying the monthly minimum increases your financing cost, and some banks may enjoy this” rather than implying that an unpredictable payment record (including entirely missed payments) is appreciated by your lenders.
i hear the invisible one is pretty good. very exclusive, though.
OK, forget the points and building credit history, how about some other simple benefits of cards? Security - lose the card and it’s one call and you’re set - and with Amex you’re not paying anything for fraudulent charges. V and MC aren’t bad with respect to this either. Lose the cash - good luck. Online shopping Easy budget management - the tools available from the card providers let you track and record your spending quite easily. Or you can just hang onto every receipt you get and enter it into excel. Re: building credit history, 2 factors that play into your credit rating are length of time you’ve had cards open, and the ratio of used to available revolving credit lines. I wouldn’t advocate for someone to open extra cards for this purpose, but having 1 or 2 is a good idea. Also, if you’re going to close extra cards, close those with the shortest history, as your long history will be deleted if you close the long-dated cards.
FYI, nobody should ever pay over some maximum (I think $50) for fraudulent charges. This is actually a US law, unless the the card company can prove that the claim the charges are fraudulent is suspicious. Unfortunately, I have some experience in this area.