Storms are 20% more destructive than just four years ago (warning - deceptive thread title)

[SkyDekker 1,465]

23 hours ago, brenthutch said:

Is that credit card debt? 

I have always wondered how they measure that. If I run my credit report right now, it will say I have approx. $14,000 in credit card debt. However somewhere at the beginning of next month, that will be paid off since all my credit cards are paid automatically for the full statement balance, every single month.

Because of the 30 day grace period, I will always have a few thousand showing on my credit cards, but I never have to pay interest. So I really have no credit card debt, even though reporting wise it will show I have thousands.

[billvon 2,991]

23 hours ago, brenthutch said:

Is that credit card debt? 

Some is, yes.

[brenthutch 444]

11 minutes ago, billvon said:

Some is, yes.

 

12 minutes ago, billvon said:

Some is, yes.

Buying a $1000 TV and paying $$% in interest doesn’t increase your net worth.

[jakee 1,489]

25 minutes ago, SkyDekker said:

I have always wondered how they measure that. If I run my credit report right now, it will say I have approx. $14,000 in credit card debt. However somewhere at the beginning of next month, that will be paid off since all my credit cards are paid automatically for the full statement balance, every single month.

Because of the 30 day grace period, I will always have a few thousand showing on my credit cards, but I never have to pay interest. So I really have no credit card debt, even though reporting wise it will show I have thousands.

That, and (over here anyway) everyday easy access bank accounts are offering 5% interest when pre-Covid it would have been 1.5% or less, while 12mth 0% credit cards are still widely avaible. So even for people who don't invest or don't usually pay any attention to financial tools it's a no brainer to take free debt.

[billvon 2,991]

18 minutes ago, brenthutch said:

Buying a $1000 TV and paying $$% in interest doesn’t increase your net worth.

Exactly.  But making money on my investments in a booming economy does.  And debt allows you to postpone taxes until a future date, which can save you money overall.

[brenthutch 444]

55 minutes ago, jakee said:

That, and (over here anyway) everyday easy access bank accounts are offering 5% interest when pre-Covid it would have been 1.5% or less, while 12mth 0% credit cards are still widely avaible. So even for people who don't invest or don't usually pay any attention to financial tools it's a no brainer to take free debt.

Read the fine print.  Is that 0% for everything or just balance transfers and cash advances? 

Edited September 23, 2024 by brenthutch

[jakee 1,489]

22 minutes ago, brenthutch said:

Read the fine print.  Is that 0% for everything or just balance transfers and cash advances? 

Either balance transfers or spending depending on what you're after, but that's hardy buried in the small print. Between the two you can easily get what is essentially a 0% loan over a year, then a balance transfer might cost one or two percent up front but still much better value than paying up front.

[tkhayes 348]

Helene death toll grows as US braces for multibillion-dollar insurance costs (ft.com) - $30B estimate for this one storm. 

The most expensive hurricanes have all been in the last 20 years - List of costliest Atlantic hurricanes - Wikipedia

Six locations in Florida see the highest storm surge in history - These 6 places saw their worst storm surge ever during Hurricane Helene - The Washington Post

[s]But yeah, the season estimate for the NUMBER of storms is off so therefore all climate change science has been falsified and there is nothing to see here.... just a normal weather cycle.[/s]

[wmw999 2,447]

Wait for it. The US storm with the greatest loss of life was still the 1900 Galveston hurricane. It’ll get drug up sometime. The fact that neither weather reporting nor communication technology were where they are now will be deemed irrelevant

Wendy P. 

[tkhayes 348]

On 9/23/2024 at 1:22 PM, SkyDekker said:

I have always wondered how they measure that. If I run my credit report right now, it will say I have approx. $14,000 in credit card debt. However somewhere at the beginning of next month, that will be paid off since all my credit cards are paid automatically for the full statement balance, every single month.

Because of the 30 day grace period, I will always have a few thousand showing on my credit cards, but I never have to pay interest. So I really have no credit card debt, even though reporting wise it will show I have thousands.

I have same problem which affects my credit score every month

[brenthutch 444]

On 9/23/2024 at 1:22 PM, SkyDekker said:

I have always wondered how they measure that. If I run my credit report right now, it will say I have approx. $14,000 in credit card debt. However somewhere at the beginning of next month, that will be paid off since all my credit cards are paid automatically for the full statement balance, every single month.

Because of the 30 day grace period, I will always have a few thousand showing on my credit cards, but I never have to pay interest. So I really have no credit card debt, even though reporting wise it will show I have thousands.

We measured it by the dollars revolved.

[brenthutch 444]

14 hours ago, tkhayes said:

I have same problem which affects my credit score every month

Just how do you think your credit score is calculated?

[jakee 1,489]

6 hours ago, brenthutch said:

Just how do you think your credit score is calculated?

How much of your credit card limit you are using does affect your credit score regardless of whether you always pay it off on time or not. 
 

Now let’s see how long you spend arguing against that simple fact. Should be fun!

[brenthutch 444]

6 hours ago, jakee said:

How much of your credit card limit you are using does affect your credit score regardless of whether you always pay it off on time or not. 
 

Now let’s see how long you spend arguing against that simple fact. Should be fun!

You are correct, sort of. Percentage of revolving utilized, is one of the many factors that can affect one’s FICO score. If it is paid off in full, it doesn’t count as revolving debt. So no negative impact. 

 

 

 

[jakee 1,489]

2 minutes ago, brenthutch said:

You are correct, sort of. Percentage of revolving utilized, is one of the many factors that can affect one’s FICO score. If it is paid off in full, it doesn’t count as revolving debt. So no negative impact. 

You are incorrect, completely. Your credit utilisation is whatever it is at the time it’s counted.

Forbes: 

If you pay your bill on time every month, you might think you’d have a 0% credit utilization. Not true. The amount owed is based on what your credit card issuers report to each credit agency. It’s extremely unlike that your credit card issuer will send this data on a day when your balance is $0.

According to the Fair Isaac Corporation:

Your account balance on your credit report will reflect the account balance your lender reported to the credit bureau (typically the balance from your latest monthly statement). So even if you pay your credit card balances in full each month, your account balance won’t necessarily show on your credit report as $0.

[brenthutch 444]

1 minute ago, jakee said:

You are incorrect, completely. Your credit utilisation is whatever it is at the time it’s counted.

Forbes: 

If you pay your bill on time every month, you might think you’d have a 0% credit utilization. Not true. The amount owed is based on what your credit card issuers report to each credit agency. It’s extremely unlike that your credit card issuer will send this data on a day when your balance is $0.

According to the Fair Isaac Corporation:

Your account balance on your credit report will reflect the account balance your lender reported to the credit bureau (typically the balance from your latest monthly statement). So even if you pay your credit card balances in full each month, your account balance won’t necessarily show on your credit report as $0.

We reported after the billing cycle. If paid in full, zero balance reported, for just the reasons laid out.

[jakee 1,489]

2 minutes ago, brenthutch said:

We reported after the billing cycle. If paid in full, zero balance reported, for just the reasons laid out.

So you were wrong. It doesn’t count revolving balance, it just counts balance when reported, and it’s zero if it happens to be reported when it’s actually zero. Similarly it’s not zero if it happens to be reported when it’s not zero, regardless of whether the balance is new or old, and TK does know something about how credit scores are calculated.

[lippy 918]

8 minutes ago, jakee said:

So you were wrong. It doesn’t count revolving balance, it just counts balance when reported, and it’s zero if it happens to be reported when it’s actually zero. Similarly it’s not zero if it happens to be reported when it’s not zero, regardless of whether the balance is new or old, and TK does know something about how credit scores are calculated.

I just took a couple-point dip to my credit score after a big last-minute international work trip.  $8k in flights/hotels/meals on top of the typical monthly expenses.  It was paid off the day after the statement posted, but it still brought me down a hair.

..........As I was typing this, I pulled out the Chase app to check where I was at...As of October 1 my score is up 10pts due to, amongst other things, a $7600 decrease in total balance and a significant drop in % of credit usage.  

[brenthutch 444]

3 hours ago, jakee said:

So you were wrong. It doesn’t count revolving balance, it just counts balance when reported, and it’s zero if it happens to be reported when it’s actually zero. Similarly it’s not zero if it happens to be reported when it’s not zero, regardless of whether the balance is new or old, and TK does know something about how credit scores are calculated.

Banks report after the close of the billing cycle. Balances are not the only thing they have to report. They also report delinquency and what stage and that cannot be ascertained until AFTER THE ACCOUNT HAS CYCLED. 
 

Edited October 1, 2024 by brenthutch

[jakee 1,489]

6 minutes ago, brenthutch said:

Banks report after the close of the billing cycle. 

Says who?

When do credit card companies report to credit bureaus?

One reason there’s so much confusion about when credit card companies report to credit bureaus is that there’s no clear-cut, universally applicable answer (annoying, we know)...

And while you can generally expect that your credit card activity will be reported to the bureaus at the end of your billing cycle, it’s not a hard-and-fast rule.

“It can be anywhere from quarterly to daily for an individual consumer’s information, depending on the choices and practices of the lender or creditor,” 

[brenthutch 444]

59 minutes ago, jakee said:

And while you can generally expect that your credit card activity will be reported to the bureaus at the end of your billing cycle, it’s not a hard-and-fast rule.

 

I accept your apology 

[jakee 1,489]

13 minutes ago, brenthutch said:

I accept your apology 

If your general approach reading involves imagining the words you want to see that would actually explain a whole hell of a lot.

[wolfriverjoe 1,523]

5 hours ago, jakee said:

If your general approach reading involves imagining the words you want to see that would actually explain a whole hell of a lot.

You're just figuring this out about him?

[billvon 2,991]

The deniers are back and better than ever!  They spent quite some time claiming Helene was going to be a nothing sandwich, they're just trying to create panic so people are easier to control, it's all so FEMA can take over blah blah blah.  Then it hit and it was pretty dang destructive, so that angle didn't work any more.

So now they are going with - IT'S FAKE!   See, it was "geoengineered" - a "weather bomb" pulled off by "geoterrorists."  Couldn't follow all the crazy but apparently contrails and satellite lasers are part of it.

https://thefallingdarkness.com/geoterrorism-alert-satellite-imagery-confirms-hurricane-helene-was-geoengineered-weaponized-as-a-massive-rain-dumping-and-wind-shearing-superstorm/#:~:text=The latest highly destructive superstorm was Hurricane Helene,located to generate superstorms from their very inception.

[gowlerk 2,192]

3 hours ago, billvon said:

Couldn't follow all the crazy but apparently contrails and satellite lasers are part of it.

It’s simply the NWO. And they are only asking for small donations.