Author Topic: PSA: Don't swipe recklessly for others  (Read 245449 times)

Offline gingyguy

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Re: PSA: Don't swipe recklessly for others
« Reply #2430 on: February 24, 2019, 06:25:30 PM »
(too big to fail, Guy is heimish cousin, he gives lots of tzedaka etc...) ...
but once they see this story where the guy was also frum heimish , gave Tzedaka etc they will at the very least think much longer and harder about giving over their CC... And if they still decide to swipe - well you can lead a horse to water but you can't make it drink. No matter how many details you put in some people will always make stupid decisions. The point of the article is for those that are either unaware of the risks or people that know how to recognize the truth
« Last Edit: February 24, 2019, 06:37:03 PM by gingyguy »
May you slide down the banister of happiness & get many splinters of success up your career.

Offline gingyguy

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Re: PSA: Don't swipe recklessly for others
« Reply #2431 on: February 24, 2019, 06:27:24 PM »
"וידבר ה' אל משה אחרי מות שני בני אהרן וגו'" - מה ת"ל היה רבי אלעזר בן עזריה מושלו משל לחולה שנכנס אצלו רופא אמר לו אל תאכל צונן ואל תשכב בטחב בא אחר ואמר לו אל תאכל צונן ואל תשכב בטחב שלא תמות כדרך שמת פלוני זה זרזו יותר מן הראשון לכך נאמר אחרי מות שני בני אהרן
seems to me this is exactly Dan s article . Don't get screwed like these two fellows did
May you slide down the banister of happiness & get many splinters of success up your career.

Offline Alexsei

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Re: PSA: Don't swipe recklessly for others
« Reply #2432 on: February 24, 2019, 06:30:11 PM »
Any critiques before I post?
https://www.dansdeals.com/more/dans-commentary/dark-side-earning-credit-card-points-psa-dont-swipe-others/
I have several close Friends who've been begging me for years for my cards, they were all trustworthy, and they ALL messed up, fortunately I knew better but a whole lot of people are drowning in a pool of debt and stress ever since
כל ההתחלות קשות, בלי התחלה קשה ביותר
מרבה נכסים מרבה דאגה, בלי נכסים דאגה ביותר

Offline churnbabychurn

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Re: PSA: Don't swipe recklessly for others
« Reply #2433 on: February 24, 2019, 06:35:22 PM »
Any critiques before I post?
https://www.dansdeals.com/more/dans-commentary/dark-side-earning-credit-card-points-psa-dont-swipe-others/
You have to mention buying groups. People should never buy (lend) more then they can afford to risk.
They are a close cousin to other businesses who are outright borrowing cash.
It is a matter of time before one of them busts leaving hundreds out anywhere from 1-100k

Offline mmgfarb

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Re: PSA: Don't swipe recklessly for others
« Reply #2434 on: February 24, 2019, 06:36:02 PM »
You have to mention buying groups. People should never buy (lend) more then they can afford to risk.
That's what he's referring to by "goods" IINM.
"JS [is] a fetid cesspool of unvarnished linguistic manure, with lots of useless drivel and post-padding." -Moishebatchy

Offline churnbabychurn

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Re: PSA: Don't swipe recklessly for others
« Reply #2435 on: February 24, 2019, 06:37:52 PM »
That's what he's referring to by "goods" IINM.
Remiza works for chakima. Not for these folks

Offline Dan

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Re: PSA: Don't swipe recklessly for others
« Reply #2436 on: February 24, 2019, 06:38:48 PM »
Remiza works for chakima. Not for these folks
OK.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline Alexsei

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Re: PSA: Don't swipe recklessly for others
« Reply #2437 on: February 24, 2019, 06:40:13 PM »
one of the big askanim in the tristate area recently said the worse thing you can do to your close "friend" or "relative" is to hand him your cc
כל ההתחלות קשות, בלי התחלה קשה ביותר
מרבה נכסים מרבה דאגה, בלי נכסים דאגה ביותר

Offline mmgfarb

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Re: PSA: Don't swipe recklessly for others
« Reply #2438 on: February 24, 2019, 06:40:41 PM »
OK.
The problem with talking explicitly about buying groups is that so many people do it that it may just weaken the message as a whole, not to mention that it's far less risky than letting your card be swiped by someone.
"JS [is] a fetid cesspool of unvarnished linguistic manure, with lots of useless drivel and post-padding." -Moishebatchy

Offline SBS

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Re: PSA: Don't swipe recklessly for others
« Reply #2439 on: February 24, 2019, 06:41:59 PM »
I won't hide behind a new name. I will just post my story.

In short, when I was a bochur I was approached by a friend of one of my siblings who asked me for my CC. He already used my brothers' CC and always paid on time. I later found out he would buy electronics, smuggle them into a certain country, sell them to a local distributor and then pay back. For over 2 years it worked fine. On average he swiped about 18k a month and then paid back after the CC closed.

Came the day when one of his containers was seized by customs, and he lost a lot of money, and didn't have how to pay back.

I was stuck with 18k CC debt, none of it my own spending. I was paying minimum payments (had no money, kollel salary), and waiting to see what will happen.

The guy never ignored my calls, but he also did not have money. He also got married, got a job and barely made ends meet.

I found an ad in one of the religious newspapers for "angels of debt", they took the case, told me what to do, I settled all the CC's for 25/30%, fried my credit for 7 years, I borrowed from my parents to pay it, and over the next 5 years I got paid back from this guy whatever the settlement amounts were (i was not going to charge him a penny more than i paid, nor was i going to dispute a charge which was legally made).

Today i still cannot open CC's with chase, Citi and Barclays, they have me blacklisted, only Amex and Capital One.

I wasn't scammed. But I learned my lesson. And I did not end up losing too much BH.
Available for Sha'alos

Offline churnbabychurn

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Re: PSA: Don't swipe recklessly for others
« Reply #2440 on: February 24, 2019, 06:42:48 PM »
The problem with talking explicitly about buying groups is that so many people do it that it may just weaken the message as a whole, not to mention that it's far less risky than letting your card be swiped by someone.
Maybe a separate section that makes people aware that by buying for a group, they are essentially lending cash to a business unsecured with no recourse.

This is something that many many people can't seem to grasp.

Offline mmgfarb

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Re: PSA: Don't swipe recklessly for others
« Reply #2441 on: February 24, 2019, 06:43:47 PM »
Maybe a separate section that makes people aware that by buying for a group, they are essentially lending cash to a business unsecured with no recourse.

This is something that many many people can't seem to grasp.
Well that's not really true, you are selling them goods, that has very different legal ramifications.
"JS [is] a fetid cesspool of unvarnished linguistic manure, with lots of useless drivel and post-padding." -Moishebatchy

Offline Dan

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Re: PSA: Don't swipe recklessly for others
« Reply #2442 on: February 24, 2019, 06:43:51 PM »
I won't hide behind a new name. I will just post my story.

In short, when I was a bochur I was approached by a friend of one of my siblings who asked me for my CC. He already used my brothers' CC and always paid on time. I later found out he would buy electronics, smuggle them into a certain country, sell them to a local distributor and then pay back. For over 2 years it worked fine. On average he swiped about 18k a month and then paid back after the CC closed.

Came the day when one of his containers was seized by customs, and he lost a lot of money, and didn't have how to pay back.

I was stuck with 18k CC debt, none of it my own spending. I was paying minimum payments (had no money, kollel salary), and waiting to see what will happen.

The guy never ignored my calls, but he also did not have money. He also got married, got a job and barely made ends meet.

I found an ad in one of the religious newspapers for "angels of debt", they took the case, told me what to do, I settled all the CC's for 25/30%, fried my credit for 7 years, I borrowed from my parents to pay it, and over the next 5 years I got paid back from this guy whatever the settlement amounts were (i was not going to charge him a penny more than i paid, nor was i going to dispute a charge which was legally made).

Today i still cannot open CC's with chase, Citi and Barclays, they have me blacklisted, only Amex and Capital One.

I wasn't scammed. But I learned my lesson. And I did not end up losing too much BH.
Crazy! Thanks for sharing.
Please share as a comment on DD also.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline gingyguy

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May you slide down the banister of happiness & get many splinters of success up your career.

Offline churnbabychurn

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Re: PSA: Don't swipe recklessly for others
« Reply #2444 on: February 24, 2019, 06:45:08 PM »
Well that's not really true, you are selling them goods, that has very different legal ramifications.
Here we go. Rationalize all you want. One day lots of people will be left holding the bag.