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Many of the best finance threads get deleted/edited out. This thread is to serve as a centralized place for preserving these all time classics.
Its quite a lot of work to preserve every post from within a thread, so im leaving it up to you guys to handle it.
AMEX customer service
woodsley said:Did anyone try to call AMEX 1-800 for any of your cards yesterday and today? I could not get CSR when I tried to call for my AMEX blue and Starwood. I was put on hold forever and finally disconnected. I tried to make a $1000 purchase on my AMEX blue and it got declined because the credit line was suddenly reduced to $500 (original $4000 credit line and $0 balance).
HA! I responded and now people are falling for it or playing along.:
tazzy531 said:On behalf of AMEX, FWF would like to apologize for the delay. We strive to keep all our customers happy. Because of this, we are offering you a $50 statement credit for your next bill. Please call the customer service and ask for the "FWF45443-01" credit.
Please report back to let us know that it went through.
Water, Food, Guns, and Ammo -- Best investment in the time of depression/disaster
FatWalt said:Yes, sorry... but Im wearing my tin-foil hat today 
Would cash be worthless (i.e. saved in the home safe/in the mattress)?
I would hope our nation/communities would be civil but you never know what people are capable of (robbing/riots/etc...just look at New Orleans). Does anyone actually have an emergency surplus of food and water? I dont have one but I have been thinking about what I would do under dire circumstances. Sorry if this is a repost, I searched but only found relevance to emergency cash savings which may not be valuable in this situation.
How to quickly build good/positive credit history for college students
FloorsMat said:Something that worked to build credit with Citibank for me was to make a large purchase right before the statement closing date and return it right after. I think this appears similar to a payment, and I was able to go from $2000 total relationship with Citi to $60,000 (including business cards) in two years.
Wow, messed up I think, help
shootthemoon said:Many years ago, a ran up a debt on 3 seperate cards with no ability to pay these cards back, a rather large debt, i dont want to say... and the status of limitations in my state is 7 years, so it was planned to let the statue run out, and then the cards would fall off the credit reporting service, well, the first went as planned! monitored the credit report and the card debt went away, it was listed as charged off for a long time, and then it was gone, but I was harassed by one of the credit agencies on another card, and they kept calling me and offering me deals. well, i just wanted them to stop calling, so i accepted a deal and then never contacted them again, and then I pulled my credit and the date of last activity was moved up to the month when i talked to the credit person?? wtf? now I have to wait another 7 years? is this legal? i did not pay them a thing. why is my date moved up. help, can i use a lawyer to fix this? I really need a good credit, as i was planning on a new business when my credit debt was off my record.....
Should I buy a condo
andme2 said:Should I invest in a condo ~ 350k when I have an unstable job making 40k a year but possible 50k in 1 - 2 years?
Background:
Parents: Own a duplex, renting out one unit for ~ $1200, willing to use that to pay for my mortagage.
Down payment: 40k Parents willing to loan me this money
Personal Savings 40k (Invest in stock / emergency money)
Reason why I want to buy/invest in a condo is because I currently commute 40 miles one way to work. I want to move out of my parent's home. I also want to invest the money I have and eventually upgrade to an even bigger home or perhaps pocket the money. I know this will be a long time from now with the housing market, but atleast I will have an easy commute so I can hold the condo for 5-10 years.
However the greatest fear is risk for me. Even with my parents helping me with 1k of the mortgage I still will need to pay atleast $2000- $2500 dollars per month due to property taxes, insurance, utiilties etc which is more than I make right now, but a few years I expect to get a better job where I will be able to "barely" afford the mortgage.
But of course if I do get a condo I will have no savings, live pay check to pay check to pay the mortagage so really with the given background would you buy a condo or just live at home, commute, find a better paying job and invest in the stock market in the meantime?
Or am I just low risk tolerant.
HA! This one is great!
Qualify for a loan
apdato said:Goal- I'd like to be able to qualify for a 25-30k dollar small business loan in 7-9 months.
Problem- My credit score is 628 right now because of a late payment on my student loan during a gap year. But my loan is back in deferment since I've returned to school now. I've never had a credit card (nor want one really) or loan besides the fsa loan and I have very little income. Besides I have only 5k at most between my checking and scottrade accounts. How would I build credit in the next 8 months for a loan?
Solutions- Should I apply for an unsecured credit card and never use it? Should I get a 1-2k dollar loan through virginmoney from my parents for 6 or 36 months or some time and not use the loan but pay it off on time? Should I just give up and try to talk someone into cosigning for the loan which is unlikely? Any other ways to build credit fast?
They just keep getting better:
Credit Card Interest
gman79 said:I have read somewhere that consumer card interest is not tax deductable. Let's say that i get a 2% intro rate on a card that has 20K limit for a year. I take that money from my credit card and put into a savings account that pays 5%. The earned interest on savings is considered income while the interest paid to credit card is not tax deductible. I think i should only be taxed on the 3% of 20K not on the 5%.
What does everyone else think?
Would like some advice
xaznxeclipsex said:Just a little background, I am new to investments and just know the very basics. I own 8 shares of Apple that I bought at $114, the stock grew to around $190 now. So I have made about $500 in profit. Would it be dumb to sell my 8 shares, and then rebuy more shares using my $500 profit money? The only thing bad that I can think of is paying tax on the earning of $500. If it is a good idea to do it, would it be better to do it after the year ends?
Thanks!
Many FW Members said:
Use the darn search function! 
from this thread:
http://www.fatwallet.com/forums/messageview.php?catid=52&threadid=786585
memberkgb said:Hey guys,
I need to get a credit card preferably with around a 20g limit, that has a first transaction with some a low interest rate. I am 18, have a job making around 30k a year and a full time student. No previous credit cards, but I have had my bank account for around 2 years with WAMU. Where do you think I should look, I need to make a one time purchase of around 20k that I will pay of in a year. Thanks.
SUCKISSTAPLES said:from this thread:
http://www.fatwallet.com/forums/messageview.php?catid=52&threadid=786585
memberkgb said:Hey guys,
I need to get a credit card preferably with around a 20g limit, that has a first transaction with some a low interest rate. I am 18, have a job making around 30k a year and a full time student. No previous credit cards, but I have had my bank account for around 2 years with WAMU. Where do you think I should look, I need to make a one time purchase of around 20k that I will pay of in a year. Thanks.
Looks like the classic "I want to get in some major debt FAST" line right there...
As most of you would remember, I was $17,000 in credit card debts (asides from the money I owed to people). SO I went to see a bankruptcy trustee and based on the information given to me, a bankruptcy or even a proposal would keep me from getting a job in my field.
So I told my parents that I was in trouble, that I got into a complicated business and I need $10,000. Actually, I told them to invest that $10,000 in me as a formal loan and I would pay them pay $212 a month for 5 years, which is at about 10%. They would just not accept and forced me to give them exact details on where I owe the money and how I got into such debt. I kept on telling them "it's complicated and everytime I have to beg for $20 here and there, I die a little, just give me a normal loan for $10k and I will pay you back just like a normal mortgage".
Now remember, my parent could finance the house at way less than 10%. But they still insisted on knowing what I got myself into. It was more harassement then anything else. The WHAT DO YOU NEED THE MONEY FOR questionnaire when you try to borrow to pay your gambling debt is the most uncomfortable situation for a gambler.
So I made up a story about being involved in a business, rather a partnership with some friends 2 years back, debt being run on and now pressurizing. They told me everything in the book that I could do besides lending me the money. Sell my shares, sell goods, why did you do it, etc. Finally, I told them that some people that financed me were indirectly involved with the mafia people. My parents suddenly got worried and told me to get out of it as soon as I can. Heck, my dad was still telling me to tell them I don't have money and that I would pay pay them back as I work, even if they ask for 40-50% interests. But when I spoke to them both, I had no choice but to make something up, something that does not exist.
What type of business? Where is it? What was the market value? Details on the inexistant mortgage on the establishement. They told me to get out of it by offering my share of the business for FREE to my partners. It was only after I told them that the people involved are higher people that are capable of coming after me and my family that they agreed to lend me the money. And then guess what, they tell me "We'll give you the $10,000 and we don't even want it back, just get out of it".
Apparently my parents don't care about my dignity. I had to tell them my life was in danger for exactly $10k before they accept. And as far as they know, I will still be penniless and would have to beg for every $20 and explain what I need the money for. When you go borrowing money from someone, having to tell them what your intention is is not something you wanna do. I felt so bad because they told me because I got involved with such people, they won't be able to sleep at nights. I probably should've filed for bankruptcy.
Anywho, I have $10,000 now, $17,000 in credit card debts and a $5,000 student loan. I am still thinking, with $10k, I could pay off my friend ($1200), also in financial trouble but never asked me what I needed the money for, I could buy a new car, etc. It's not like giving money to these unimaginable bastards (the banks) will get me out of debt completely. A HUGE chunk of my CC debt comes from fees and interests. Just the thought of giving them the money they took at will out of me makes me wanna puke.
I could still file for a proposal/bankruptcy and save tens of thousands. I mean what if I pay them off and STILL don't get a job at one of the financial institutions as I'd like? Then they really would have screwed me over.
Is a good credit rating really worth that sum?
I'm just thinking of my parents that spent so much money for my education and then me filing for bankruptcy because of a mental illness... how would they feel? They had such big hopes for me. That I will become something one day. I know I would feel like shit and hurt if I raised someone all his life and at the age of 24, just before graduating university, he tells me he f'ed up his whole future and lost almost $70k in gambling in the past 6 years.
Actually, I have:
$11,000 at 13.5%
$4,500 at 11.5%
$1,500 at 11.5%
and $1,000 at 26%
I was thinking of clearing the later 3 and bringing the $11k under limits, leaving me with 2k. Pay the bookie his $1300 and leave myself with $700.
And no the bad luck hadn't stopped. I gambled $60 on a parlay, lost because of ONE TEAM, at -13, up by 14 gave up a basket with NO TIME LEFT ON THE CLOCK!! That was a $220 slap in the face!!!
Taken from post here: http://www.fatwallet.com/t/55/780892
It would help if the username was posted with the quote, so everyone will know who it's from if the original thread gets deleted.
usctrojan24 said:So, I keep seeing these target retirement funds. I am a financial planner, the only advantage I see is that it allows you to forget about the money. Are the fees lower? b/c i use annuities that give 3-5% bumps and lock in the principal amount, so you can't lose money plus i can be aggressive. I'm up 49% this year. I have not seen returns over 20%.
Please advise.
From this thread
jacobhorne said:I was thinking...If I built up my credit scores for 10 or so years then decided to get like 15 or so Credit Cards and max them out...
Then fly to Mexico or the Philippines and live it large for a couple of years then come back to the US.
When does the Statute of Limitations Run out? I live in SC...I think it varies by state.
Not saying I would do it but...it is a thought. Thanks any info.
Don't Torch me! ha
I think KingSonic belongs in the Hall of Fame on this thread. Some of his handywork has already been quoted above, but here's another classic:
"For years people have talked about their "anonymous Swiss bank account" - does anyone know how to actually go about signing up for these (could be Swiss or other foreign accounts)? What are the acct minimums and interest rates? Are they still anonymous?
Ive always been interested in this but never researched it...perhaps the FW community knows about these"
Hmmm...
This thread will be incomplete until someone finds the "rape the markets" quote.
SimpleMoney said:Anyone else think AOR/BTs where people apply for 50 credit cards to get signup bonuses then take out as much money as they can at 0%, put it in a 5% money market, and then pay the cards off when the 0% rate expires - is unethical and fraudulant?
This causes the credit card company to lose money by giving you an interest free loan. The CC company is not intending for you to pay back the entire amount immediately after the 0% rate goes down. The intention is for someone to build up some debt and then pay it back slowly with interest afterwards.
Since the CC company is losing money to AOR/BT hackers, they have to charge higher rates to legitimate CC users. So when you hear about people being trapped by 25% rates, you can thank yourself if you have participated in AOR/BT hacking.
From: The worst thread EVER.
BOA is Evil!
" VerbalK said:
BofA burned my house down, killed my mother, sold my children into slavery, blinded me with a hot poker, salted my fields so that nothing could grow, convinced my wife that she could do better, poured sugar in my gas tank, raped my dog, AND placed a hold on all my deposits."
A few gems from my one of my fav:
ifyouhavetoask said:Dealing with 401k's and IRS's is a sign that a person is dealing with chump changehttp://www.fatwallet.com/forums/arcmessageview.php?catid=52&threadid=725409ifyouhavetoask said:Something worse than the 1930's is coming this way pretty darn soon. Anyone with a shred of common sense can see that. However, you're not going to find too many FW members who see the signs. Too many Kool Aid drinkers around here, with delusions of getting rich with AOR's and $100 offers to open checking accounts.”http://www.fatwallet.com/t/52/748683/
and from formokeo said:Plese do not delete me, if you do you will be delete as wellhttp://www.fatwallet.com/t/55/734335/
Beernuts82 said:SimpleMoney said:Anyone else think AOR/BTs where people apply for 50 credit cards to get signup bonuses then take out as much money as they can at 0%, put it in a 5% money market, and then pay the cards off when the 0% rate expires - is unethical and fraudulant?
This causes the credit card company to lose money by giving you an interest free loan. The CC company is not intending for you to pay back the entire amount immediately after the 0% rate goes down. The intention is for someone to build up some debt and then pay it back slowly with interest afterwards.
Since the CC company is losing money to AOR/BT hackers, they have to charge higher rates to legitimate CC users. So when you hear about people being trapped by 25% rates, you can thank yourself if you have participated in AOR/BT hacking.
From: The worst thread EVER.
You have a bad heart!
We must all pay homage to the Iraqi Dinar!
Fatboyff -
"I to have taken the plunge into the iraqi dinar, it did this back in December. I got 2,000,000 for 500 us dollars. This a long time investment, you can not expect to make a quick million in just days"
"I got my dinar over in Baghdad, the current exchange rate here on the street is 1478 dinar per USD. You will not be able to exchange the dinar in the US until we recognize it. Yes the dinar is on the exchange but it is not on the world market yet. They real test for the dinar will be June 30th w
