The 8008 was: Blinky lights WAS: The SR71 Blackbird was designed ENTIRELYwith slide rules 664
"Colonel Forbin" wrote ... Home mortgage lending loss rates are considerably lower than the loss percentages on vehicle loans, and, while foreclosures are a bit more complex than repossessing a car or truck (except in Louisiana), most lenders will tell you that vehaicles are the more risky collateral.. Because of the rapid depreciation on new cars, essentially losing up to 50% of their "real " value driving off the dealers' lots, the potential losses on "100%" Debt Loans can be high, while appreciation-inflation on single family homes in most of the US reduces the potential losses financing houses.
Folks who have their cars "repo-ed" often manage to seriously depreciate them by hrash driving, failing to change the oil and general mistreatment.
All lenders are a bit frightened by folks who "never borrow money", in itself an admission of failing to appreciate the US tax code, but as a former banker, I can understand the fear of Debt Consolidation or risk which confronts many people. But simply swearing never to use a Credit Debt card simply because one is afraid that he-she won't pay the balance at the end of the month would scare me as an employer, worried as to just how much will power and self control an employee had, and whether or not he-she could be trusted with business transactions.
The 8008 was: Blinky lights WAS: The SR71 Blackbird was designed ENTIRELYwith slide rules 665
The way it works here, or at least every bank that's issued me a debit card...
Folks who travel on business, a substantial portion of middle and upper management, would be unable to without the use of Credit Debt cards. Car rentals and the like become awkward and nearly impossible, while hotels become very uncomfortable with lodgers who "have no credit".
Last year, one of my AMEX cards "borrowed" something over $100,000.00 during the year, all paid off by electronic payment on the billing date each month. It's simply nothing more than another sort of bank account by which I handle most of my business operating expenses. Obviously, it costs the businesses from which I purchase services, and I have to pay a "card fee" (recovered in reward points) so for me it'sa wash and has increased convenience. Paying a $25,000.00 hotel bill can be a little awkward.
The 8008 was: Blinky lights WAS: The SR71 Blackbird was designed ENTIRELYwith slide rules 666
Woah there a minute -- please include a modicum of reality. In the first place -- not any schmoe with your account data can initiate an ACH-EFT transaction. Only participating financial insbreastutions...
The 8008 was: Blinky lights WAS: The SR71 Blackbird was designed ENTIRELYwith slide rules 668
spit And I'm trying to explain that the rules are outdated and there is no...