Author Topic: PSA: Don't swipe recklessly for others  (Read 223386 times)

Offline cmey

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Re: PSA: Don't swipe recklessly for others
« Reply #1695 on: January 28, 2019, 08:30:39 PM »
I think it should be posted everywhere and every person should know about as this is only one of dozens of people swiping cc's and it's about time people realize people get screwed.

There’s an ad for a swiping service in the Lakewood daily paper today. We swipe your cards monthly and cut you a check for the points. Apparently the message is not getting out to those who need to hear it...

Offline EP123

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Re: PSA: Don't swipe recklessly for others
« Reply #1696 on: January 28, 2019, 09:45:52 PM »
The most interesting thing that I learned is how easy it is to get people to give you millions on their cards...


Offline churnbabychurn

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Re: PSA: Don't swipe recklessly for others
« Reply #1697 on: January 28, 2019, 09:48:38 PM »
Where were they swiping the cards?

Offline chevron

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Re: PSA: Don't swipe recklessly for others
« Reply #1698 on: January 28, 2019, 11:20:40 PM »
I used a friend's cards in my business, 10+ year's ago. Needless to say, when things went wrong with biz, he was down a lot.

We paid him back in full including all interest. But it's really not some place I want to be again.

Has anyone thought of the bigger picture here? Why do people trust companies to pay their cards ?!? Why?!? Where is the legally binding contract that holds said company owners legally responsible and their house as eschrow?!

Besides for 100k in debt, that is what, $30k a year interest?


Offline knowitall

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Re: PSA: Don't swipe recklessly for others
« Reply #1699 on: January 28, 2019, 11:29:31 PM »
I used a friend's cards in my business, 10+ year's ago. Needless to say, when things went wrong with biz, he was down a lot.

We paid him back in full including all interest. But it's really not some place I want to be again.

Has anyone thought of the bigger picture here? Why do people trust companies to pay their cards ?!? Why?!? Where is the legally binding contract that holds said company owners legally responsible and their house as eschrow?!

Besides for 100k in debt, that is what, $30k a year interest?
I'm not a Rav, but I had a similar situation where someone used my cards and incurred interest (and was willing to pay the interest) but my Rav said he can only pay me for what he swiped, not any interest. I'm saying this as a PSA, even when you trust each other 100%, watch out for interest cuz u can be on the hook for it.

Online LoLo

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Re: PSA: Don't swipe recklessly for others
« Reply #1700 on: January 28, 2019, 11:38:26 PM »
+1, you're only allowed to pay the interest if you're the borrower from the bank, co-signer etc.

Offline rileywiles23

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Re: PSA: Don't swipe recklessly for others
« Reply #1701 on: January 29, 2019, 12:27:25 AM »
+1, you're only allowed to pay the interest if you're the borrower from the bank, co-signer etc.
But he's aloud to pay the interest as a gift
Life is as good as you make it...

Offline knowitall

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Re: PSA: Don't swipe recklessly for others
« Reply #1702 on: January 29, 2019, 12:30:47 AM »
But he's aloud to pay the interest as a gift
not according to my LOR and another posek that supposedly knows biz halacha.

I've heard it might b ok to have him pay me for something else and pay me extra if it's not clear why he's paying extra. Also possibly to have someone else pay me for him, as long as my friend is not obligated to pay his friend back. Now back to regular programming...........

Online LoLo

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Re: PSA: Don't swipe recklessly for others
« Reply #1703 on: January 29, 2019, 08:47:51 AM »
But he's aloud to pay the interest as a gift
Not so simple, and even on those instances when allowed, i think it's only if you're friends in real life.

Online tzifanya54

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Re: PSA: Don't swipe recklessly for others
« Reply #1704 on: January 29, 2019, 08:53:16 AM »
I think this definitely needs to be stressed now. I can imagine many signed up for cap1 and need ways of spending $50k. I personally am familiar with 2 people that got suckered into this swiping for someone’s business on a personal level (not one of these swiping Ponzi schemes), and were screwed out of their money.

Offline gingyguy

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Re: PSA: Don't swipe recklessly for others
« Reply #1705 on: January 29, 2019, 08:57:38 AM »
But he's aloud to pay the interest as a gift
-1 thats ribbis just the same . you cant just say that youre intentions are different and it changes the facts
May you slide down the banister of happiness & get many splinters of success up your career.

Offline chevron

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Re: PSA: Don't swipe recklessly for others
« Reply #1706 on: January 29, 2019, 09:05:18 AM »
I paid the bank directly for his cards.


Online Yikes2179

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Re: PSA: Don't swipe recklessly for others
« Reply #1707 on: January 29, 2019, 09:27:53 AM »
I paid the bank directly for his cards.
It's still ribis

Offline chevron

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Re: PSA: Don't swipe recklessly for others
« Reply #1708 on: January 29, 2019, 09:36:05 AM »
Where's @ChaimMoskowitz err I mean @Muhammad

Offline Menachem613

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Re: PSA: Don't swipe recklessly for others
« Reply #1709 on: January 29, 2019, 09:38:22 AM »
-1 thats ribbis just the same . you cant just say that youre intentions are different and it changes the facts

Can this be moved to the Halacha thread?