Author Topic: Overheard at Work  (Read 13252681 times)

Goldielocks

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Re: Overheard at Work
« Reply #6700 on: February 07, 2015, 12:56:44 AM »

Perhaps the millenials will "look" financially more like the generation who lived through the great depression, rather than generation x or the baby boomers.


Not from what I've seen!  They're at the bar buying craft brews and expensive, fancy cocktails while taking selfies on their iPhones.  The recession in Canada (which nobody seems to remember) between 89-93 was devastating.  You'd never see us GenX punk rockers and grungers with craft brews.  We were all wearing clothes from the second-hand shop and you'd only see us out on $1 draft night.  :(

I remember..  At university the students had this saying.. "Alive in '95".. Meaning more employment likely by 1995 take grad studies for now....   It was also the era of the original " Barista"  stories, about highly educated 20 something's that inhabited basement suites or still lived with parents. And not much opportunity and they are 28 already....   Same stories, different justifications....

willow

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Re: Overheard at Work
« Reply #6701 on: February 07, 2015, 12:31:58 PM »
Most recently my favorite anecdote is a guy starting off a story like this: "I noticed Amazon had increased the limit on my credit card, so I bought...."

Kris

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Re: Overheard at Work
« Reply #6702 on: February 07, 2015, 12:53:20 PM »
Most recently my favorite anecdote is a guy starting off a story like this: "I noticed Amazon had increased the limit on my credit card, so I bought...."


Wh... ?

Wow.

Funny, that reminds me of when I was in my twenties, with my first credit card of my very own.  After a while, the company decided to raise my credit limit.  I actually called them and made them put it back where it was.

High five to my twenty-five (or so) year-old self!  (Not that it makes a real difference one way or another -- I would never even come close to spending the limit on my card.)

mm1970

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Re: Overheard at Work
« Reply #6703 on: February 07, 2015, 01:36:49 PM »
I am glad I wasn't born in 1986 and graduating into that mess.

I was born in 85, my wife in 86and graduated into the recession.  We survived.

Wow, arebelspy, you are impressively wise and measured for such a young'un.
I was thinking the same thing. 

mm1970

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Re: Overheard at Work
« Reply #6704 on: February 07, 2015, 01:39:29 PM »
I am glad I wasn't born in 1986 and graduating into that mess.

I was born in 85, my wife in 86and graduated into the recession.  We survived.

Aw, man... Here I thought I liked you, and then you had to go and ruin it by telling me you were born THE YEAR I GRADUATED HIGH SCHOOL.

Harrumph...

LOL.  One of my coworkers turned 30 last year and was moaning about how "old" she was getting. 

"Do you know what I was doing in 1984?" I asked her.

"No, what?"

"Graduating from high school."

Immediate end to the "I'm old" moans.  :D
ha ha. I work with some  younger engineers and one of them just got married.  Some of the guys were talking about how old she was "she's only 24".  I said "nope, she's at least 26".  "Can't be."  "She was born the year I graduated HS, so yep." (1988)

mm1970

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Re: Overheard at Work
« Reply #6705 on: February 07, 2015, 01:41:57 PM »
I am glad I wasn't born in 1986 and graduating into that mess.

I was born in 85, my wife in 86and graduated into the recession.  We survived.

I was born in '85 as well. For my class, there were certain majors (accounting, nursing, etc) that they had no trouble getting a good job. Others (English, political science, etc) were screwed. I think that only intensified, as my sister was a few years behind me and her entire class was in trouble, including the accountants and nurses.

not to come across as mean but WTF do you do with those degrees that had trouble finding jobs even if its a good economy.  its like getting a general history degree or an art degree.
Yeah, you know, I used to think that too, seeing how I was an engineering major at a mostly engineering school and was dating a history major for awhile.  One of my roommates asked him "what do you do besides teach?"

There are lots of things to do with such a major.  He's a commander in the Navy.  Hm.  Maybe a Capt?  Probably not quite yet.  Some of my ROTC classmates JUST started making CAPT.

SwordGuy

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Re: Overheard at Work
« Reply #6706 on: February 07, 2015, 03:33:10 PM »
He's a commander in the Navy.  Hm.  Maybe a Capt?  Probably not quite yet.  Some of my ROTC classmates JUST started making CAPT.

Navy Captain = Army, Marine or Air Force Colonel, just in case your ROTC classmates weren't in the Navy. 

mm1970

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Re: Overheard at Work
« Reply #6707 on: February 07, 2015, 04:42:18 PM »
He's a commander in the Navy.  Hm.  Maybe a Capt?  Probably not quite yet.  Some of my ROTC classmates JUST started making CAPT.

Navy Captain = Army, Marine or Air Force Colonel, just in case your ROTC classmates weren't in the Navy.
Well, mostly Navy, a few Marines.  Not sure how many of the Marines are still in though...

willow

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Re: Overheard at Work
« Reply #6708 on: February 07, 2015, 08:43:31 PM »
Most recently my favorite anecdote is a guy starting off a story like this: "I noticed Amazon had increased the limit on my credit card, so I bought...."


Wh... ?

Wow.

Funny, that reminds me of when I was in my twenties, with my first credit card of my very own.  After a while, the company decided to raise my credit limit.  I actually called them and made them put it back where it was.

High five to my twenty-five (or so) year-old self!  (Not that it makes a real difference one way or another -- I would never even come close to spending the limit on my card.)

We have a lot in common! I'm actually in my 20s now ~ And my bank did that to me about a year ago. I called them and asked why on earth they would do such and thing and to put it back. Also, never touch my credit limit without asking me ever again :)

RyanAtTanagra

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Re: Overheard at Work
« Reply #6709 on: February 07, 2015, 09:22:16 PM »
I called them and asked why on earth they would do such and thing and to put it back. Also, never touch my credit limit without asking me ever again :)

Good luck with that.  I kept having to do that when I was starting to get out of debt.  I tried lowering my CC limits as I paid them down, but 3 months later they would do some automatic increase again.  I gave up after a couple tries.  Plus the reps I talked to never seemed to understand what I was asking 'you want to increase your limit?'  'no, decrease'  'yes, i will put in a request to have in increased' 'no, damnit'  Wasn't worth it.

horsepoor

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Re: Overheard at Work
« Reply #6710 on: February 07, 2015, 10:25:05 PM »
I called them and asked why on earth they would do such and thing and to put it back. Also, never touch my credit limit without asking me ever again :)

Good luck with that.  I kept having to do that when I was starting to get out of debt.  I tried lowering my CC limits as I paid them down, but 3 months later they would do some automatic increase again.  I gave up after a couple tries.  Plus the reps I talked to never seemed to understand what I was asking 'you want to increase your limit?'  'no, decrease'  'yes, i will put in a request to have in increased' 'no, damnit'  Wasn't worth it.

I can only remember having my credit line increased once.  Like Kris, I called and had it lowered.  I was in grad school and they raised it to something around the amount of my annual stipend!  I have excellent credit and have not gotten any automatic increases on any of my several cards, so maybe they just aren't doing them without specific requests much anymore?  I also thought it was insane when I was making like $40K and had just bought my first house as a single person, then got pre-approved to buy a $32K vehicle with no down payment (and if I wanted a more expensive car, well just call).  That was circa 2004, but still.

caliq

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Re: Overheard at Work
« Reply #6711 on: February 08, 2015, 07:09:17 AM »
I called them and asked why on earth they would do such and thing and to put it back. Also, never touch my credit limit without asking me ever again :)

Good luck with that.  I kept having to do that when I was starting to get out of debt.  I tried lowering my CC limits as I paid them down, but 3 months later they would do some automatic increase again.  I gave up after a couple tries.  Plus the reps I talked to never seemed to understand what I was asking 'you want to increase your limit?'  'no, decrease'  'yes, i will put in a request to have in increased' 'no, damnit'  Wasn't worth it.

I can only remember having my credit line increased once.  Like Kris, I called and had it lowered.  I was in grad school and they raised it to something around the amount of my annual stipend!  I have excellent credit and have not gotten any automatic increases on any of my several cards, so maybe they just aren't doing them without specific requests much anymore?  I also thought it was insane when I was making like $40K and had just bought my first house as a single person, then got pre-approved to buy a $32K vehicle with no down payment (and if I wanted a more expensive car, well just call).  That was circa 2004, but still.

They still do it randomly -- DH and I just had a joint card raised from 6K to 8K less than two months after we opened the card...it's still on the 0% interest/18 months promo for goodness sake, I *know* we're not making them any money!!

johnny847

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Re: Overheard at Work
« Reply #6712 on: February 08, 2015, 07:22:53 AM »
I called them and asked why on earth they would do such and thing and to put it back. Also, never touch my credit limit without asking me ever again :)

Good luck with that.  I kept having to do that when I was starting to get out of debt.  I tried lowering my CC limits as I paid them down, but 3 months later they would do some automatic increase again.  I gave up after a couple tries.  Plus the reps I talked to never seemed to understand what I was asking 'you want to increase your limit?'  'no, decrease'  'yes, i will put in a request to have in increased' 'no, damnit'  Wasn't worth it.

I can only remember having my credit line increased once.  Like Kris, I called and had it lowered.  I was in grad school and they raised it to something around the amount of my annual stipend!  I have excellent credit and have not gotten any automatic increases on any of my several cards, so maybe they just aren't doing them without specific requests much anymore?  I also thought it was insane when I was making like $40K and had just bought my first house as a single person, then got pre-approved to buy a $32K vehicle with no down payment (and if I wanted a more expensive car, well just call).  That was circa 2004, but still.

They still do it randomly -- DH and I just had a joint card raised from 6K to 8K less than two months after we opened the card...it's still on the 0% interest/18 months promo for goodness sake, I *know* we're not making them any money!!
People seriously need to understand - every time you make a transaction, you are making the credit card company money. They collect a fee from the merchant for the transaction.
Yes, obviously, credit cards make a lot of money from interest payments. But anybody who consistently pays in full is still a profit maker for the company (well okay, maybe there's an exception for credit card churners. But I don't think that's the case, because if credit card churners were seriously costing CC companies money, they would all just allow only one bonus per lifetime to eliminate churning. Which Amex admittedly does. But that's even funnier because Amex charges the highest transaction fees of all payment networks).

benjenn

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Re: Overheard at Work
« Reply #6713 on: February 08, 2015, 07:25:24 AM »
It wouldn't bother me to have my credit limit increased on my card (I've got one card now with a $35,000 limit).  I pay them off every month and never even think about reaching the limit.  Having a higher limit isn't going to entice me to add more to them.  It's a non-issue.

solon

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Re: Overheard at Work
« Reply #6714 on: February 08, 2015, 07:26:41 AM »
They still do it randomly -- DH and I just had a joint card raised from 6K to 8K less than two months after we opened the card...it's still on the 0% interest/18 months promo for goodness sake, I *know* we're not making them any money!!

If you're using the card, you *are* making them money. They get a cut of every transaction, so the more they can talk you into using the card, the more they make. Even if you pay in full every month and don't pay any interest or fees.

caliq

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Re: Overheard at Work
« Reply #6715 on: February 08, 2015, 08:56:39 AM »
They still do it randomly -- DH and I just had a joint card raised from 6K to 8K less than two months after we opened the card...it's still on the 0% interest/18 months promo for goodness sake, I *know* we're not making them any money!!

If you're using the card, you *are* making them money. They get a cut of every transaction, so the more they can talk you into using the card, the more they make. Even if you pay in full every month and don't pay any interest or fees.

That is true -- I forgot about the transaction fees they charge merchants.  I stand corrected :)

Paul der Krake

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Re: Overheard at Work
« Reply #6716 on: February 08, 2015, 09:14:19 AM »
They still do it randomly -- DH and I just had a joint card raised from 6K to 8K less than two months after we opened the card...it's still on the 0% interest/18 months promo for goodness sake, I *know* we're not making them any money!!

If you're using the card, you *are* making them money. They get a cut of every transaction, so the more they can talk you into using the card, the more they make. Even if you pay in full every month and don't pay any interest or fees.

That is true -- I forgot about the transaction fees they charge merchants.  I stand corrected :)
This is why I call them at least once a week to chat about the weather and waste their reps' time. Fight the system!

frugalnacho

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Re: Overheard at Work
« Reply #6717 on: February 08, 2015, 11:23:02 AM »
I've had my credit limit raised randomly tons of times.  Doesn't bother me since i'm not a consumer sucka and only buy what I have cash for, so my "limit" is meaningless to me.  I've never had a situation where I was even close to my limit, and it gets paid off the following month so it's no big deal.

Raste

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Re: Overheard at Work
« Reply #6718 on: February 08, 2015, 01:05:37 PM »
I've had my cc limit raised only one time. I was going to make a large purchase on my cc to get the points so I had my limit raised. I had the cash in the bank for an immediate pay off. I've never had a company just raise mine without asking. I haven't called to have it lowered back. Heck, I use my cc so infrequently now I don't even know what the limit is.

mydogismyheart

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Re: Overheard at Work
« Reply #6719 on: February 08, 2015, 03:04:21 PM »
I just heard one from my sales partner at work:

"I think I'm just going to start eating out to lunch every day, so much easier than trying to make a lunch all the time"

OMG... I am super lazy too, but at least I can grab a can of soup for less than $1 or maybe a lean cuisine if they're on sale (today I had a healthy choice on sale for $1.88)!!!  She just paid $10 for lunch for 1 day and now she thinks she should do that every day because it's "easier"...

I don't get it...

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Re: Overheard at Work
« Reply #6720 on: February 08, 2015, 03:11:51 PM »
I have never understood those who get upset by the automatic credit limit increases. As others have said, my credit limit has no bearing on how much I spend. I am curious to hear the reasons of those who called to get their limits lowered again. Is it because of the impact to your credit score? Or maybe just the principle of a change being made to your account without you consent?

Zikoris

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Re: Overheard at Work
« Reply #6721 on: February 08, 2015, 03:12:47 PM »
I'm always surprised how much my coworkers struggle to figure out "lunch". As in, they would like to bring lunch from home, but have no idea what to make, how to grocery shop with meals in mind, or how to plan even a few days ahead. Or they make things they dislike, then complain about it - why would you even cook things you hate? Argh.

I'm even more surprised when the people are in their 40s and 50s. Uh, you've been working for 20-30 years - why have you not figured this shit out by now? It's so simple. Ghaa.

Shivan

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Re: Overheard at Work
« Reply #6722 on: February 08, 2015, 03:13:30 PM »
From my company's "bulletin board": Redesign your dining area for a fraction of the cost!



Big surprise, he's worked at the company for over 30 years.

Kris

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Re: Overheard at Work
« Reply #6723 on: February 08, 2015, 03:39:33 PM »
I have never understood those who get upset by the automatic credit limit increases. As others have said, my credit limit has no bearing on how much I spend. I am curious to hear the reasons of those who called to get their limits lowered again. Is it because of the impact to your credit score? Or maybe just the principle of a change being made to your account without you consent?

For my early-twenties self, it was a combo of 1) knowing that the company was hoping I was a consumer sucka and that raising my credit limit was not done out of the goodness of their hearts, but to get me to spend more; and 2) yes, the principle of having this done without my consent.  It was the reflex of someone who has always had a healthy distrust of consumerism and the structures that have been created to take advantage of people's lack of self-control.  At that point in my life, I was still feeling my way, and wanted no extra opportunities to fall into a debt trap.

These days, many years later, I know myself well enough that my credit card limit doesn't affect my behavior, so I don't care if it's raised.  But back then, the horror that anyone could ever possibly put THAT much on a credit card made me have them lower it out of shock and indignation.

Kris

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Re: Overheard at Work
« Reply #6724 on: February 08, 2015, 03:43:05 PM »
From my company's "bulletin board": Redesign your dining area for a fraction of the cost!



Big surprise, he's worked at the company for over 30 years.

Are you shitting me? 

Wow. That is an insane amount to pay new, and the used price is a joke.  Not to mention that the set looks like some hideous plastic patio furniture you could get from Wal-Mart for $99.

Mind. Blown.

mydogismyheart

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Re: Overheard at Work
« Reply #6725 on: February 08, 2015, 04:51:33 PM »
I'm always surprised how much my coworkers struggle to figure out "lunch". As in, they would like to bring lunch from home, but have no idea what to make, how to grocery shop with meals in mind, or how to plan even a few days ahead. Or they make things they dislike, then complain about it - why would you even cook things you hate? Argh.

I'm even more surprised when the people are in their 40s and 50s. Uh, you've been working for 20-30 years - why have you not figured this shit out by now? It's so simple. Ghaa.

The best part is, we have a FULL kitchen to share for just 2 of us.  An entire fridge, microwave, pantry, cabinets, gas range, oven, etc... everything you would have in your kitchen.  For just 2 of us.  So it's not like it's hard to just throw some ingredients in a bag and make stuff at work. Yes you might have to provide some of your own cooking pots/pans but that's pretty easy to get. The last gal I worked with here used to bring all the fixings for salads and just leave it in the fridge and then make it when she was hungry.  So it's not like they make it difficult for us to bring lunch.

kpd905

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Re: Overheard at Work
« Reply #6726 on: February 08, 2015, 05:53:02 PM »

Funny, that reminds me of when I was in my twenties, with my first credit card of my very own.  After a while, the company decided to raise my credit limit.  I actually called them and made them put it back where it was.

High five to my twenty-five (or so) year-old self!  (Not that it makes a real difference one way or another -- I would never even come close to spending the limit on my card.)

If you are interested in raising your credit score, I'd just keep the higher limit, so you'll have a lower % of utilization.  We open cards for rewards, so we have a total credit limit about 1.5x our annual salary.  I don't think we've ever had over 2% utilization.

Kris

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Re: Overheard at Work
« Reply #6727 on: February 08, 2015, 05:59:57 PM »

Funny, that reminds me of when I was in my twenties, with my first credit card of my very own.  After a while, the company decided to raise my credit limit.  I actually called them and made them put it back where it was.

High five to my twenty-five (or so) year-old self!  (Not that it makes a real difference one way or another -- I would never even come close to spending the limit on my card.)

If you are interested in raising your credit score, I'd just keep the higher limit, so you'll have a lower % of utilization.  We open cards for rewards, so we have a total credit limit about 1.5x our annual salary.  I don't think we've ever had over 2% utilization.

This was over twenty years ago, so it's fine.  My credit score is easily in the high 700s.  But thanks!

nawhite

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Re: Overheard at Work
« Reply #6728 on: February 08, 2015, 06:07:05 PM »
I have never understood those who get upset by the automatic credit limit increases. As others have said, my credit limit has no bearing on how much I spend. I am curious to hear the reasons of those who called to get their limits lowered again. Is it because of the impact to your credit score? Or maybe just the principle of a change being made to your account without you consent?

For my early-twenties self, it was a combo of 1) knowing that the company was hoping I was a consumer sucka and that raising my credit limit was not done out of the goodness of their hearts, but to get me to spend more; and 2) yes, the principle of having this done without my consent.  It was the reflex of someone who has always had a healthy distrust of consumerism and the structures that have been created to take advantage of people's lack of self-control.  At that point in my life, I was still feeling my way, and wanted no extra opportunities to fall into a debt trap.

These days, many years later, I know myself well enough that my credit card limit doesn't affect my behavior, so I don't care if it's raised.  But back then, the horror that anyone could ever possibly put THAT much on a credit card made me have them lower it out of shock and indignation.

Your reason number 1 was what it used to be for me. Nowadays though, I churn cards so much that I need to have them keep the limits low so I'll be approved for the next card. Each of them likes to come back and say "We'll make your credit limit 1/4 - 1/3 of your income!" but when I had 5+ cards open with limits that high, the new applications started to think twice. So now I have to ask to start with "small" limits and not increase them. Even if I'm good about cancelling cards, with automatic increases, I was easily having a combined credit limit of 1.5x my annual income. Nowadays I try to keep the combined total to no more than .75x annual income so I know I can always get approved for whatever great deal comes along.

RWD

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Re: Overheard at Work
« Reply #6729 on: February 08, 2015, 07:22:36 PM »
I'm always surprised how much my coworkers struggle to figure out "lunch". As in, they would like to bring lunch from home, but have no idea what to make, how to grocery shop with meals in mind, or how to plan even a few days ahead. Or they make things they dislike, then complain about it - why would you even cook things you hate? Argh.

I'm even more surprised when the people are in their 40s and 50s. Uh, you've been working for 20-30 years - why have you not figured this shit out by now? It's so simple. Ghaa.

A good number of my coworkers come to work most days having no idea what they will do for lunch. Once it's within about a half hour of noon they start asking each other where they should go out to eat...

Pooperman

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Re: Overheard at Work
« Reply #6730 on: February 08, 2015, 07:36:35 PM »
I'm always surprised how much my coworkers struggle to figure out "lunch". As in, they would like to bring lunch from home, but have no idea what to make, how to grocery shop with meals in mind, or how to plan even a few days ahead. Or they make things they dislike, then complain about it - why would you even cook things you hate? Argh.

I'm even more surprised when the people are in their 40s and 50s. Uh, you've been working for 20-30 years - why have you not figured this shit out by now? It's so simple. Ghaa.

A good number of my coworkers come to work most days having no idea what they will do for lunch. Once it's within about a half hour of noon they start asking each other where they should go out to eat...

Yeah, the whole 'Anyone want to go to ___?' thing. I'm trying to get enough people to bring their own lunches that it becomes a cascading thing and forces everyone else to do it since the social aspect is moved to sitting at the large conference table and chatting from walking to the restaurant and spending god knows what. So far, 2 people (including me) bring lunch every day with a couple others occasionally brown-bagging.

willow

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Re: Overheard at Work
« Reply #6731 on: February 08, 2015, 07:37:02 PM »
I have never understood those who get upset by the automatic credit limit increases. As others have said, my credit limit has no bearing on how much I spend. I am curious to hear the reasons of those who called to get their limits lowered again. Is it because of the impact to your credit score? Or maybe just the principle of a change being made to your account without you consent?

For my early-twenties self, it was a combo of 1) knowing that the company was hoping I was a consumer sucka and that raising my credit limit was not done out of the goodness of their hearts, but to get me to spend more; and 2) yes, the principle of having this done without my consent.  It was the reflex of someone who has always had a healthy distrust of consumerism and the structures that have been created to take advantage of people's lack of self-control.  At that point in my life, I was still feeling my way, and wanted no extra opportunities to fall into a debt trap.

These days, many years later, I know myself well enough that my credit card limit doesn't affect my behavior, so I don't care if it's raised.  But back then, the horror that anyone could ever possibly put THAT much on a credit card made me have them lower it out of shock and indignation.

Yeah a few things
1) They did it without my consent. Just not a fan of that.
2) Lower credit limits, in the extreme case that I become a victim of identify theft(which has happened to me), just gives a thief less to steal. For the record, my bank did make amends for the criminal purchases.
3) Perhaps some of you are more financially disciplined but my best self discipline has always been to keep credit limits low and money out of sight out of mind. In general I think avoidance of temptation is the best way to avoid making a mistake, and that doesn't just apply to my money habits. I'm much more disciplined with my cash than I am with say, cookies :)

Wings5

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Re: Overheard at Work
« Reply #6732 on: February 08, 2015, 07:45:23 PM »
I can only remember having my credit line increased once.  Like Kris, I called and had it lowered.  I was in grad school and they raised it to something around the amount of my annual stipend!  I have excellent credit and have not gotten any automatic increases on any of my several cards, so maybe they just aren't doing them without specific requests much anymore?  I also thought it was insane when I was making like $40K and had just bought my first house as a single person, then got pre-approved to buy a $32K vehicle with no down payment (and if I wanted a more expensive car, well just call).  That was circa 2004, but still.

When I was making $3,000 per year in college I was approved for a $29,000 limit on a Chase card.

Also, regarding bringing lunch from home, I have a friend who is 31 who went grocery shopping for the first time this year. 13+ years of eating out every single meal when he wasn't at home with the rents during school breaks.
« Last Edit: February 08, 2015, 07:50:14 PM by Wings5 »

johnny847

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Re: Overheard at Work
« Reply #6733 on: February 08, 2015, 07:58:29 PM »
Yeah a few things
1) They did it without my consent. Just not a fan of that.
2) Lower credit limits, in the extreme case that I become a victim of identify theft(which has happened to me), just gives a thief less to steal. For the record, my bank did make amends for the criminal purchases.
3) Perhaps some of you are more financially disciplined but my best self discipline has always been to keep credit limits low and money out of sight out of mind. In general I think avoidance of temptation is the best way to avoid making a mistake, and that doesn't just apply to my money habits. I'm much more disciplined with my cash than I am with say, cookies :)
With regard to #2, that is meaningless. See http://www.consumer.ftc.gov/articles/0213-lost-or-stolen-credit-atm-and-debit-cards.
By law, for credit cards:
  • Your liability is capped at $50 for fraudulent transactions, but can be further capped by the two following conditions
  • If you report a lost credit card before fraudulent use, you're not liable for anything
  • If your number is stolen but not your card, you're not liable for anything

Cinder

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Re: Overheard at Work
« Reply #6734 on: February 08, 2015, 09:37:19 PM »
... I am glad I wasn't born in 1986 and graduating into that mess. ...

I was born in 1985, and that seemed like the perfect time.  Graduated college in 2007, found a job, and then everything tanked.  I was contributing to meet the match for my 401k at my job, but I know other people who put more in and we happened to luck out there buying all our stocks on sale!  You are right though, being born in 86 or 87 would have been a LOT rougher out of college. 

pancakes

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Re: Overheard at Work
« Reply #6735 on: February 09, 2015, 04:03:34 AM »
Yeah, the whole 'Anyone want to go to ___?' thing. I'm trying to get enough people to bring their own lunches that it becomes a cascading thing and forces everyone else to do it since the social aspect is moved to sitting at the large conference table and chatting from walking to the restaurant and spending god knows what. So far, 2 people (including me) bring lunch every day with a couple others occasionally brown-bagging.
This DH's workplace. They use every excuse to go out for lunch. Someone is going away on holidays? Office lunch (at employee's expense)! Someone has come back from holidays? Office lunch (at employee's expense)! Someone is engaged/married/divorced/bought a house/got a promotion/cutting back their hours/started working/finished working/having a baby? Office lunch (at employee's expense)!



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Re: Overheard at Work
« Reply #6736 on: February 09, 2015, 05:37:29 AM »
I politely decline any employee paid office lunches for any occasion unless I know the person really well and am ready to spend $10 on bad food for him/her. That list is very small thankfully.

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Re: Overheard at Work
« Reply #6737 on: February 09, 2015, 06:53:17 AM »
Going carry on free is so wonderful.
Oh, I agree.
I've done it a few times. I felt like I must be hot shit... someone somewhere was carrying all my stuff for me. LOL

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Re: Overheard at Work
« Reply #6738 on: February 09, 2015, 07:17:18 AM »
I stand corrected.  I think that is a major flaw in the turbo tax software then, because it didn't add the credit for me until I put in my IRA contributions.
Might want to double-check that your W-2 entries include your (correction:) 401(k) deductions with the correct coding. I would be surprised if TurboTax missed that, considering the resources at their disposal.
TaxAct pulled both my IRA and TSP (a different type of elective deferral with a different code, but reported in the same box) into the RSCC calculation.
http://www.irs.gov/Retirement-Plans/Common-Errors-on-Form-W2-Codes-for-Retirement-Plans
« Last Edit: February 09, 2015, 08:02:11 AM by zephyr911 »

johnny847

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Re: Overheard at Work
« Reply #6739 on: February 09, 2015, 07:24:08 AM »
I stand corrected.  I think that is a major flaw in the turbo tax software then, because it didn't add the credit for me until I put in my IRA contributions.
Might want to double-check that your W-2 entries include your IRA deductions with the correct coding. I would be surprised if TurboTax missed that, considering the resources at their disposal.
TaxAct pulled both my IRA and TSP (a different type of elective deferral with a different code, but reported in the same box) into the RSCC calculation.
http://www.irs.gov/Retirement-Plans/Common-Errors-on-Form-W2-Codes-for-Retirement-Plans
Huh? Your W-2 says nothing about your IRA deduction. It does say stuff about workplace retirement plans (401k, 403b, 457b, TSP, etc).

horsepoor

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Re: Overheard at Work
« Reply #6740 on: February 09, 2015, 07:36:12 AM »
Yeah a few things
1) They did it without my consent. Just not a fan of that.
2) Lower credit limits, in the extreme case that I become a victim of identify theft(which has happened to me), just gives a thief less to steal. For the record, my bank did make amends for the criminal purchases.
3) Perhaps some of you are more financially disciplined but my best self discipline has always been to keep credit limits low and money out of sight out of mind. In general I think avoidance of temptation is the best way to avoid making a mistake, and that doesn't just apply to my money habits. I'm much more disciplined with my cash than I am with say, cookies :)
With regard to #2, that is meaningless. See http://www.consumer.ftc.gov/articles/0213-lost-or-stolen-credit-atm-and-debit-cards.
By law, for credit cards:
  • Your liability is capped at $50 for fraudulent transactions, but can be further capped by the two following conditions
  • If you report a lost credit card before fraudulent use, you're not liable for anything
  • If your number is stolen but not your card, you're not liable for anything

Yes, well at the time I was worried about the liability.  And those caps assume that the credit card company won't string you along and try to pin the charges on you.

Now I don't worry because I can monitor all my accounts easily through Mint.  15 years ago I'd never know if someone had racked up $10K on an unused card until the statement came in the mail.

johnny847

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Re: Overheard at Work
« Reply #6741 on: February 09, 2015, 07:46:23 AM »
Yeah a few things
1) They did it without my consent. Just not a fan of that.
2) Lower credit limits, in the extreme case that I become a victim of identify theft(which has happened to me), just gives a thief less to steal. For the record, my bank did make amends for the criminal purchases.
3) Perhaps some of you are more financially disciplined but my best self discipline has always been to keep credit limits low and money out of sight out of mind. In general I think avoidance of temptation is the best way to avoid making a mistake, and that doesn't just apply to my money habits. I'm much more disciplined with my cash than I am with say, cookies :)
With regard to #2, that is meaningless. See http://www.consumer.ftc.gov/articles/0213-lost-or-stolen-credit-atm-and-debit-cards.
By law, for credit cards:
  • Your liability is capped at $50 for fraudulent transactions, but can be further capped by the two following conditions
  • If you report a lost credit card before fraudulent use, you're not liable for anything
  • If your number is stolen but not your card, you're not liable for anything

Yes, well at the time I was worried about the liability.  And those caps assume that the credit card company won't string you along and try to pin the charges on you.

Now I don't worry because I can monitor all my accounts easily through Mint.  15 years ago I'd never know if someone had racked up $10K on an unused card until the statement came in the mail.
Um no, by law your liability is capped at $50, period, regardless of when you report the transaction as fraudulent. And the FCBA which established those caps was passed in 1974. So unless you were talking about credit card use before 1974, keeping your credit limit low for the sake of reducing damages from identity theft was pointless unless your credit limit was less than $50, which would make your credit card pretty close to useless.

zephyr911

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Re: Overheard at Work
« Reply #6742 on: February 09, 2015, 08:01:05 AM »
Huh? Your W-2 says nothing about your IRA deduction. It does say stuff about workplace retirement plans (401k, 403b, 457b, TSP, etc).
Oops, I meant the 401(k) deduction.

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Re: Overheard at Work
« Reply #6743 on: February 09, 2015, 08:43:26 AM »
Yeah a few things
1) They did it without my consent. Just not a fan of that.
2) Lower credit limits, in the extreme case that I become a victim of identify theft(which has happened to me), just gives a thief less to steal. For the record, my bank did make amends for the criminal purchases.
3) Perhaps some of you are more financially disciplined but my best self discipline has always been to keep credit limits low and money out of sight out of mind. In general I think avoidance of temptation is the best way to avoid making a mistake, and that doesn't just apply to my money habits. I'm much more disciplined with my cash than I am with say, cookies :)
With regard to #2, that is meaningless. See http://www.consumer.ftc.gov/articles/0213-lost-or-stolen-credit-atm-and-debit-cards.
By law, for credit cards:
  • Your liability is capped at $50 for fraudulent transactions, but can be further capped by the two following conditions
  • If you report a lost credit card before fraudulent use, you're not liable for anything
  • If your number is stolen but not your card, you're not liable for anything

Thank you for that. I completely understand I'm not liable. I just don't see why I should give them more to steal. I don't actually use or need the credit, so might as well keep it low.

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Re: Overheard at Work
« Reply #6744 on: February 09, 2015, 10:55:07 AM »
CW1: So I sold my BMW at last!
CW2: Great! Who did you sell it to?
CW1: Some guy from [city] who's buying it for his 19-year-old son.
CW2: You checked the money went through before you gave him the car, right?
CW1: I didn't need to! He just transferred his bit to the dealership then I sent in enough to pay the rest of the loan off - but the loan's for the car not me, so even if it didn't, now he's got the car, he's got the loan too!

So many WTFs. I work in admin - we are not paid that much. She should not have bought a BMW, let alone PAID SOMEONE to take it away!

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Re: Overheard at Work
« Reply #6745 on: February 09, 2015, 11:28:28 AM »
CW1: So I sold my BMW at last!
CW2: Great! Who did you sell it to?
CW1: Some guy from [city] who's buying it for his 19-year-old son.
CW2: You checked the money went through before you gave him the car, right?
CW1: I didn't need to! He just transferred his bit to the dealership then I sent in enough to pay the rest of the loan off - but the loan's for the car not me, so even if it didn't, now he's got the car, he's got the loan too!

So many WTFs. I work in admin - we are not paid that much. She should not have bought a BMW, let alone PAID SOMEONE to take it away!
I guess that paying someone to take it away could be seen as cutting losses and not buying into the sunk cost fallacy...but then again, they bought the BMW that they couldn't afford in the first place!

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Re: Overheard at Work
« Reply #6746 on: February 09, 2015, 12:11:31 PM »
Quote
Apples wins the thread!

I drove by a pet store once with a big sign saying "$0 down puppies!" and it made me want to scream.
[/quote]

Thanks 2ndtimer!  And I can't believe some people buy pets with loans. Argh!!!!  Now a few days later it seems I've talked him out of the expensive dog purchase; instead he is perusing local shelters for a dog he likes.  Though he still won't be able to cover any vet bills. Call me old fashioned, but I really can't fathom getting a loan for a dog.  And I can't believe pet stores have their own financing systems in place, ketchup!  I would scream with you over that.

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Re: Overheard at Work
« Reply #6747 on: February 09, 2015, 01:18:21 PM »
CW1: So I sold my BMW at last!
CW2: Great! Who did you sell it to?
CW1: Some guy from [city] who's buying it for his 19-year-old son.
CW2: You checked the money went through before you gave him the car, right?
CW1: I didn't need to! He just transferred his bit to the dealership then I sent in enough to pay the rest of the loan off - but the loan's for the car not me, so even if it didn't, now he's got the car, he's got the loan too!

So many WTFs. I work in admin - we are not paid that much. She should not have bought a BMW, let alone PAID SOMEONE to take it away!
I guess that paying someone to take it away could be seen as cutting losses and not buying into the sunk cost fallacy...but then again, they bought the BMW that they couldn't afford in the first place!

As much as I would love to charitably think that, I'm pretty sure she has just bought another car to replace it because she lives in a village. If £A=total loan, £B = how much the buyer paid, £C = how much she had to pay to make up the difference, and £D = the cost of the new car, then I'm pretty sure C + D = A.

Just maybe-possibly-perhaps she had thought about that but bought a super-efficient car so her capital put into the car stays the same but her petrol costs go down. But this is a woman who went shopping as a birthday present to herself even though she complains about not having enough money to buy (yes, buy) lunch. (Rant: How hard is it to bring lunch?? We only get half an hour and the nearest place is a supermarket ten minutes walk away. So she spends twenty minutes of her lunch break walking to then spend ten eating some shitty sandwich at double speed. It's not even like we're surrounded by delicious, tempting cafes. It's an EFFORT to NOT bring lunch!)

I do feel a little bit sorry for her, because she has just completed an awkward divorce with 50/50 childcare arrangements, so when her son is not around she self-soothes by spending money (mostly on clothes and beauty products). But only a little bit.

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Re: Overheard at Work
« Reply #6748 on: February 09, 2015, 01:20:20 PM »
I'm always surprised how much my coworkers struggle to figure out "lunch". As in, they would like to bring lunch from home, but have no idea what to make, how to grocery shop with meals in mind, or how to plan even a few days ahead. Or they make things they dislike, then complain about it - why would you even cook things you hate? Argh.

I'm even more surprised when the people are in their 40s and 50s. Uh, you've been working for 20-30 years - why have you not figured this shit out by now? It's so simple. Ghaa.

A good number of my coworkers come to work most days having no idea what they will do for lunch. Once it's within about a half hour of noon they start asking each other where they should go out to eat...

Yeah, the whole 'Anyone want to go to ___?' thing. I'm trying to get enough people to bring their own lunches that it becomes a cascading thing and forces everyone else to do it since the social aspect is moved to sitting at the large conference table and chatting from walking to the restaurant and spending god knows what. So far, 2 people (including me) bring lunch every day with a couple others occasionally brown-bagging.
I successfully did this at two companies. It started with just me, for a few weeks, at both places. 

Eventually it was standing room only.  Our lunch room you'd have to take a number (ok,  not really) at the old place.  At the current place, we have a tiny 4 seater table that we squeeze 6 people around, and once you are done you have to give someone else your spot.

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Re: Overheard at Work
« Reply #6749 on: February 09, 2015, 09:03:07 PM »
I'm always surprised how much my coworkers struggle to figure out "lunch". As in, they would like to bring lunch from home, but have no idea what to make, how to grocery shop with meals in mind, or how to plan even a few days ahead. Or they make things they dislike, then complain about it - why would you even cook things you hate? Argh.

I'm even more surprised when the people are in their 40s and 50s. Uh, you've been working for 20-30 years - why have you not figured this shit out by now? It's so simple. Ghaa.

A good number of my coworkers come to work most days having no idea what they will do for lunch. Once it's within about a half hour of noon they start asking each other where they should go out to eat...

Yeah, the whole 'Anyone want to go to ___?' thing. I'm trying to get enough people to bring their own lunches that it becomes a cascading thing and forces everyone else to do it since the social aspect is moved to sitting at the large conference table and chatting from walking to the restaurant and spending god knows what. So far, 2 people (including me) bring lunch every day with a couple others occasionally brown-bagging.
I successfully did this at two companies. It started with just me, for a few weeks, at both places. 

Eventually it was standing room only.  Our lunch room you'd have to take a number (ok,  not really) at the old place.  At the current place, we have a tiny 4 seater table that we squeeze 6 people around, and once you are done you have to give someone else your spot.

I think a lot of people understand that eating out every day is bad. They want to change but don't know how. So when they see someone actually doing, it gives them the impetus to try it themselves.

Good on you!

 

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