What cheeses me off

[Pushka]

There's a fundamental difference between using a credit card to buy something and refinancing or redrawing, or borrowing on a loan. You're not talking about the same thing. Credit cards agree upfront there's no interest if you pay by the due date whereas a loan you've agreed to pay a fee (interest) come what may. The credit card potentially has no cost of credit whereas the loan is guaranteed to leave you out of pocket.

Yes but that's not what I am taking about here specifically. When you apply to refinance a loan, or take out a loan, you are asked about your credit card limits. All of them. The lending authority will then take a percentage of the total limit, I have heard of up to 1/3 of that limit, and apply it to determine your ability to pay off their loan.

 

[AustraliaPoochie]

What CMO is that, some hotels say "we will hold a $1 hold on your card", some hotels will hold a $100, and both these need a visa/mastercard debit or credit, lucky where I go, its that visa/mastercard debit is accepted.
Have heard stories where up to $300 can be taken on "hold"/"preauthorization".
Then some hotels will refund the hold fast, even if they say in 3 to 4 days, but also, some hotels will not release the funds for 14 days, and their excuse will be "its your bank".
Re: where cards are accepted overseas, I think we here in Aust are innured in the use of card, and there is always evidence of use somewhere, but in parts of Japan, apart from the tale above about card use not so acceptable in Norway...
Lucky NZ has got card acceptability as much as Aust.
Our most closest international neighbor.
And the closest place we can legitimately to with a passport, no visa either for Aussies.
===
Lots of Asian grocers, will add on nearly 2% of the purchase cost in card fees.
One place at Adelaide Airport, I think its the Asian food place that has branches in MEL Tulla as well, charges 1.6% in card fees, $19.90 meal becomes $20.22!

 

[Captain Halliday]

As a WP being bumped from J to Y on SYD-BNE on the final sector or 30h from DUB.

Mrs H (PS) also bumped, yet Miss H (NB) had her J seat stick (for now).

How can QF consider it acceptable to have a child travel solo in J, but bump the parents to row 20-something.

I said the agent at the J lounge… “there must be a lot of CL and P1 for me to be bumped.”

Her reply, “oh there’s no FF numbers in here”.

They’ve been there for every other sector. JL, AY, BA could all see them.

Could do without the hassle of having to chase a points refund… but splitting us up from our daughter is what really cheeses me.

Not. Happy. Alan.

Edit: No one could tell me why this all happened but the lounge angel was not going to let Miss H fly solo and managed to get my original seat back.

Mrs H had a J seat reinstated at the gate due to a no-show, but couldn’t get her original seat back due to a paxing captain.

But she was back in J so basically sorted. But seriously, what an unnecessary lot of nonsense.

 

[JohnK]

Seems a crazy leap of logic to assume that because you use a credit card you are irresponsible with money and actually need the credit. It is simply safe (due to fraud protections you don't get with a debit card), convenient and earns points.

You are by far in the overwhelming minority.

Nearly $18billion worth of credit card in Australia accruing interest shows you that credit cards are a huge problem.

By the way I used the right choice of words. Here we have a product that helps a few but damages so many lives. It's almost inhumane. Just like my friends who are on the board of directors of an RSL and think it's OK for people that are almost in poverty to come and spend their unemployment or low wages on the pokies as soon as they receive their money and their families to seek assistance for food and clothes. Sad. Just sad.

I'm certain society fell off the rails and there's no way back other than a full reset.

 

[Cruiser Elite]

for people that are almost in poverty to come and spend their unemployment or low wages on the pokies as soon as they receive their money and their families to seek assistance for food and clothes.

There right there is the the smartest most accurate most on the ball statement Johnny K or anybody can utter - they are a blight on society allowing the rich to get richer at the peril of rest of society - 2nd biggest problem Australia faces today behind drugs in our community - if only Govts had the balls to stand up and take action.

Edit: Sorry - Poker Machines cheese me off

 

[Lynda2475]

You are by far in the overwhelming minority.

Evidence that the majority don't pay off in full or exceed the minimum payment? If the case was that most people default on their credit cards banks would get out of that business as they would be losing money.

Nearly $18billion worth of credit card in Australia accruing interest shows you that credit cards are a huge problem.

For the minority who live beyond their means.

Having access to credit doesn't mean you have to abuse it, there has to be personal responsibility taken. No one is forced to get a credit card, they choose to. No one is forced to buy things they cant afford on credit.

WRT pokies i think they are pointless and would not be impacted in the slightest should they be banned (along with cigarettes and vapes).

That said, I've been to plenty of venues that have pokies and never felt compelled to play one.

Blind freddy can tell you to the house always wins; in fact the mandatory disclaimer on all gambling ads sums it up perfectly "You win some, you lose more".

So anyone choosing to play the pokies (and again it is a choice) has been forewarned and needs to exercise some self control by not gambling more than they can afford to lose (or preferably at all).

 

[Pushka]

There right there is the the smartest most accurate most on the ball statement Johnny K or anybody can utter - they are a blight on society allowing the rich to get richer at the peril of rest of society - 2nd biggest problem Australia faces today behind drugs in our community - if only Govts had the balls to stand up and take action.

Edit: Sorry - Poker Machines cheese me off

Online gambling is much much worse. All done in the comfort of home with just a click of the mouse. It's insidious and a plague on society. Yet many sporting bodies actively promote it. Shame on them.

 

[Cruiser Elite]

Yep I agree and we are all soft co*ks for putting up with it - we need to start a movement or support an existing one to get it stamped out

But we need media support - oh wait all means of media are so reliant on it to fund their existence - people power will win our eventually - Viva La Revolution

 

[serfty]

Evidence that the majority don't pay off in full or exceed the minimum payment? If the case was that most people default on their credit cards banks would get out of that business as they would be losing money.

I would suggest that 54% of Australians is not a minority.

Debt dilemma: Average Australian has $20,238 in personal debt

Millions of Australians are struggling with a mountain of personal debt, according to new research by Finder.

www.finder.com.au

Key Facits regarding credit card Debt in that article.

Average debt accruing interest ~$2K

Total such debt is $18.6B.

If the average interest rate charged on that credit card debt is19%p.a. that means the providers are raking in $9.7M per day ($3.5B p.a.) in raw interest, so they would not be losing money.

(April 2023)

 

[Lost Redditor]

I'm no economist but it seems to me that the interest rates on CCs are unnecessarily high. Predatory so. Perhaps someone in the industry can correct me but is there any reason or couldn't be halved like at 10%? Someone mentioned to me that it's high because that's how they collect the money from those who can't afford to repay their debts, i.e. bankruptcy, but that is probably occurring due to high rates I'm talking out of my behind of course, will google this right now

Pokies also CMO, glad they were banned in Norway 20 years ago. Unsure whether or not it curbed gambling in society though, with gambling moving online. I haven't looked into it.

Edit: So did some searching and found that some low rate cards around 10% do exist. They aren't reward cards, though, and often (always?) comes with annual fees. Low rate only applies to purchases, not cash advance. Complementary TI is also quite limited for these cards.
Most financial institutions to in fact point to people's inability to repay as the reason for the high rates

 

[JohnK]

Online gambling is much much worse. All done in the comfort of home with just a click of the mouse. It's insidious and a plague on society. Yet many sporting bodies actively promote it. Shame on them.

Pokies should never have been allowed in pubs.

Gambling should never have been allowed online.

Why do the greedy always get their way? I think we all know that answer....

 

[OZDUCK]

So far in W.A the pokies have been restricted to only the Casino. There have been ongoing complaints and pleadings by the Liquor industry etc but neither side of politics have taken any notice and there is no real public demand for a change to the status quo.

 

[Lynda2475]

I would suggest that 54% of Australians is not a minority.

A slim majority but the other 46% are not an overwhelming minority as JohnK claims.

Anyway I don't think its for any government to prevent the responsible people from using credit cards because some people haven't learnt to live within their means.

Its a sad state that people want to live in a nanny state instead of accepting personal responsibility for their actions.

 

[AustraliaPoochie]

Reason why credit card interest is do high, is because its the riskiest for card providers, so they put highest interests on it.
So, they earn off you from 55 days if you dont pay
Ultimately, there is no security based on the card, no car, no house, nothing.
If you default on a car loan, the xar can be repossessed, mortgage, the title can be taken off you, if you buy a house, usually you have to send off the deed to the mortgage holding co, ie the bank.

 

[drron]

A slim majority but the other 46% are not an overwhelming minority as JohnK claims.

Anyway I don't think its for any government to prevent the responsible people from using credit cards because some people haven't learnt to live within their means.

Its a sad state that people want to live in a nanny state instead of accepting personal responsibility for their actions.

The problem is many people are genetically predisposed to things such as alcoholism,drug addiction and gambling amongst other things. Most people are actually not like you in thinking that everyone can control their own destiny.

So a couple of links on addiction.

Why do some people become addicted while others don't? Family studies that include identical twins, fraternal twins, adoptees, and siblings suggest that as much as half of a person's risk of becoming addicted to nicotine, alcohol, or other drugs depends on his or her genetic makeup. Finding the biological basis for this risk is an important avenue of research for scientists trying to solve the problem of drug addiction.

Prevention | National Institute on Drug Abuse

Researchers are developing and testing new ways to prevent substance use, addiction, and other substance-related harms.

nida.nih.gov

How much of addiction is genetic?
More than half of the differences in how likely people are to develop substance use problems stem from DNA differences, though it varies a little bit by substance. Research suggests alcohol addiction is about 50 percent heritable, while addiction to other drugs is as much as 70 percent heritable.

Rutgers Researchers Delve Deep Into the Genetics of Addiction

A flurry of recent publications sheds new light on the gene variations that drive a wide range of addictions.

www.rutgers.edu

And a study from Australia on Pathological or disordered gambling.

Main Outcome Measure Disordered gambling was defined based on lifetime DSM-IV PG symptom counts.

Results The estimate of the proportion of variation in liability for DG due to genetic influences was 49.2% (95% confidence interval, 26.7-60.9). There was no evidence for shared environmental influences contributing to variation in DG liability. There was no evidence for quantitative or qualitative sex differences in the causes of variation in DG liability.

Genetic and Environmental Influences on Disordered Gambling in Men and Women

Context Women now represent nearly half of all individuals in treatment for pathological gambling (PG), but relatively little is known about the causes of PG among women or potential sex differences in the causes of PG.Objectives To (1) investigate the role of genetic and environmental...

jamanetwork.com

Many of us are imperfect and things are not so simple for us as just making a decision to do or not do something.

 

[MARTINE]

The problem is many people are genetically predisposed to things such as alcoholism,drug addiction and gambling amongst other things. Most people are actually not like you in thinking that everyone can control their own destiny.

So a couple of links on addiction.

Prevention | National Institute on Drug Abuse

Researchers are developing and testing new ways to prevent substance use, addiction, and other substance-related harms.

nida.nih.gov

Rutgers Researchers Delve Deep Into the Genetics of Addiction

A flurry of recent publications sheds new light on the gene variations that drive a wide range of addictions.

www.rutgers.edu

And a study from Australia on Pathological or disordered gambling.

Genetic and Environmental Influences on Disordered Gambling in Men and Women

Context Women now represent nearly half of all individuals in treatment for pathological gambling (PG), but relatively little is known about the causes of PG among women or potential sex differences in the causes of PG.Objectives To (1) investigate the role of genetic and environmental...

jamanetwork.com

Many of us are imperfect and things are not so simple for us as just making a decision to do or not do something.

Agree
‘Just say no’ has passed its use by date
That is not to say there is no expectation of self-responsibility in choice making ….. however, self is a complex dynamic biopsychosocial construct and the genes you inherit, upbringing and social factors can shape this - for good and bad

 

[Lynda2475]

Well we can agree to disagree, i believe in personal responsibility.

People are predisposed to many things genetically including cancer doesnt make things a fate acompli. I find those who discount free will and education and just excuse irresponsible or criminal behaviour frustrating.

Comparing using credit which can be done completely responsibility, few would own homes without it, to drug use is imo nonsensical.

We have finance regulations and assessment criteria in order to get secured and unsecured credit, you have to be an adult, provide evidence of capacity to pay, you can't use a credit card to pay another credit card or to gamble (buy lotto tickets, pokies, bet at TAB) etc.

It is harder than ever to get credit or misuse it, still if some people lie or fudge their records to get a credit card, that is a decision that is solely on them. It is not a reason to talk about scrapping credit cards or deciding which retail stores accept them for those who have complied with regulations, paid their bills on time.

Despite assumptions here I'm not against regulations and laws, but i am against punishing those who comply with such because of the people who misuse products or ignore laws.

You can't become addicted to drugs (including cigarettes) if you never start taking/using them. You can't become addited to pokies if you are smart and never play them. The ill effect of both is well known and both easily avoided.

A car can be a deadly weapon which is one reason for speed limits, however when an individual speeds and kills himself or others we punish the individual we don't take cars away from everyone else. So why talk about stopping responsible people from having credit cards?

In short WCMO is when poor behaviour is excused and accepted, the propensity to excusei it actually contributes to a weaker society.

I will leave this topic with a quote from a favourite TV episode of mine

"There’s a tribe living by a river, and in the river there are crocodiles. The tribe has one particular piece of wisdom passed down through the generations. It goes like this: if you happen to meet a crocodile, don’t stick your head in its mouth.

Every now and then – and who knows the reason – people ignore this advice. Which is sad. Because they die. But very stupid because they were warned. They had a choice. The moral of the story is this: you can’t afford to be stupid.

There are crocodiles"

 

[Pushka]

Sadly you can use a credit card to gamble Online. Just have to shift funds and know how to do it. Every authority knows it happens and wants to ignore it. Opportunity provides an easy way out for some.

I think some are choosing to ignore that pretty much here we are well educated, have an acceptable level of means, likely own homes and hopefully not huge mortgages and don't have genetic influences that make us susceptible to various kinds of ills. That likely isn't true for many on this planet. And in Australia. It's our job to reduce their risk as much as possible. And sh%t happens to everyone, one day. And likely not because of anything we did.

 

[TheRealTMA]

WCMO is that I buy a Gold Lotto ticket every three months, and I never win! How fair is that I ask?

 

[Pushka]

WCMO is that I buy a Gold Lotto ticket every three months, and I never win! How fair is that I ask?

WWouldCMO is if I bought a weekly ticket (I don't, rarely buy them) and someone buying them like you do, wins!