How many of us really

I do for credit cards, ever since I got stuck with a $150 yearly fee on a card with a $250 limit . . . . Learned that leason!

I have gotten to where I have too, after some hard lessons learned. We are constantly getting offers for credit cards and such and I too have gotten to where I read the back of the offers. There are high yearly fees, application fees, processing fees, etc. By the time you get teh $300 credit card, you've already got over $200 worth of charges on there from all these fees!

Payday loans, well won't have to worry about them any more because I am never going to get another loan from them!

me too for the same reasons.. I got stuck on a 200 a year for a 400 limit CC...
almost as bad as a PDL... :D and I have cleaned up my credit and have real cards with real intrest and yearly fees so I do read that fine print...

I'll be honest, I didnt before. NOW I do for sure....to even MORE honest, If I didnt come across this site and was offered a credit card I would be like woohoooooooooooo I AM THERE! :)

My husband is real good about not reading all the information. With that being said, he got a credit card and in no time had it over the limit and could not understand how that was so until he got his statement and it showed all the fees that had been applied. I asked him if he even read what they were charging and he said no he didn't. Well needless to say that card went into default and is at a collection agency and as soon as we can get the rest of our situation caught up, we will start taking care of some of this, even if it is sending $5 to everyone. Even after that, he has gotten more offers in the mail and has wanted to use them and I have to make him stop and read everything, which he hates doing, but he is learning that you just have to do that any more or else you are going to get taken advantage of.

I have learned the hard way to do this and can tell you when I was actively PDL'ing that I never read it. I was, like most people doing PDL's, desparate to get the cash at any cost.

And on pdls, how many have gotten paperwork after you have agreeded (and sometimes over the phone) to accept the loan and have the repayment debited from your account?

I have before :(

Tweety ~ that makes 2 of us. :oops:

Sorry- Had to be honest......

When I got my last car in 2003, I sat in the finance guy's office and read the contract for about 30 minutes. He was staring at me and tapping his pen, and playing drums on the desk. I eventually got sick of him trying to rush me, and I said "This might take me a while. If you want to go grab some coffee or something, I'll let you know when I'm finished." He actually did leave for a few minutes and then came back (he probably had to go ask the salesman "what's up with this guy").

Aside, in the last 4 years I've probably closed about 2400 various loans. Of those loans, I can honestly say only 2 people ever made me wait for them to read the contract.

Guilty as charged but not anymore :)

Debtcruncher,
Like the old saying, Let the buyer beware, right? Good on you to do that and I wish I had gotten that lesson through my thick skull sooner...

I've gone to apply for a few credit cards and I can honestly say that I did read the fine print. Never did turn in the applications. As for the ipdl contracts, I did read them. But, I'm not sure who writes them. I had a difficult time understanding all the mumbo jumbo, which looking back on it, was probably done on purpose to confuse the consumer. :twisted:

ROTFLMAO! Steelers..You hit the nail right on its head.."A bunch of mumbo jumbo to confuse the consumer"

I started reading my credit card agreements after I got a card that had a monthly fee.

Stanley I can say GUILTY!!! I never read the payday loan agreements. If I would have or even knew my laws that they are ILLEGAL here I would have never got into the mess. Thank Goodness for this site. It is a great educational tool for many consumers. KYSIDE38

Steelers is right, the PDLs make it confusing on purpose because they know even if you question it, you want the money right now and you probably don't have an attorney on the spot to look it over.

I think the mumbo jumbo, aka the hook clause, can be interpreted as follows:

Debtcruncher, LOL This is so true.... They sure are the devils to deal with. KYSIDE38

I did for my credit cards except for Orchard Bank which was a mistake. But then I saw the error of my ways.

As for the payday loan, I was just happy to get one and just kept getting them. Years later, I realized the mistake that I made and now I am getting rid of the problem. We have all made mistakes, but at least we are trying to correct them.

I didn't read the fine print on the loans as well as I was just happy to be getting the money.

I forgot to add above, that the fine print also allows them to download you.

Now some say you will lose your children. I didn't see that mentioned in there anywhere. Is it possible to add that to the contract as well?

Didn't get that memo yet. I'm sure it will be in the second edition.

What about losing your sanity? Did your loan have that clause in it as well?

Mine incldued sleepless nights and dizzy days. Crying excessively and others not understanding why and constant stress especially on payday.

I will say I've always read the fine print...I will also say that in "desperation" I've ignored it in the past.

Only one of my cards is a crummy deal...But not so bad that I can't deal with it. As long as I keep my balance zero (Which is my obsession.) it's just over $5 a month. The only reason for me keeping it around, is it reports to the 3 bureaus every single month....It makes sure my GOOD outnumbers my BAD....Soon as all the junk gets off my report, the poopy card is GOOOONE.

The car loan I got for my Chris, I don't even want to LOOK at the interest rate. I'm sure it's outrageous. But once again...We were in a pinch, and it's what I could get. :-P~ I guess I'm in the camp of beggers can't be choosers. It's not permanent...In the next few years I know I'll be able to trade the yucko cards in for the good ones.