Everyone loves debt

[illusionofjoy]

Ever since I left the tattered remains of my college career behind and moved into my own rental unit, I began receiving credit card offers, generally at the rate of one per month. I'd toss these out, as school alone had left me in enough debt and desperation. Fast-forward to the present and my school loans are paid off, except that someone doesn't seem to realise this, leading to an assault on my paycheque which began last year. It's a funny world we live in where somehow it is okay to harass a person continuously over the phone for money that they do not have any record of owing, but when said person tries to fight back, it is perfectly acceptable to stonewall them. Rest assured, I intend to continue sending nastygrams to the address provided by my HR department.

But I digress...back on topic to the credit card offers: I recently decided to actually take one of these companies up on their offer. "What's this," you may be asking, "have you suffered a wire-hangar lobotomy, my boy?" Maybe...

A situation has arisen where I actually need a credit card, otherwise the thought would have never crossed my mind, much less the action my hands. I have a trip planned for the not-so-distant future and I fear that joi_division's car would not survive the distance I intend on driving. Therefore, it is necessary to rent a car, and therein lies the rub. In order to rent a car, one must possess a credit card (but it's okay to put one's life on the line renting a U-Haul truck with just a debit card, as an aside). So, with my hand forced, the strange configurations of Greyhound not being optimal for the journey, I have set forth to procure myself a tool of potential financial Armageddon.

In actuality, I tried taking total control of my credit destiny for myself, applying for a card which had no monthly fees, a good rate, etc. I was promptly rejected due to the artificial black mark on my credit report (capitalist pigs). So, I've reluctantly decided to pursue one of the many mailed-in offers I've received where I've apparently been "pre-screened" and "pre-approved" (translation: "we've found a sucker"). At the moment, I'm waiting to find out if "pre-approval" actually translates into final approval, at which point I plan on taming this beast of plastic with payments in full each time I make a charge on it. In other words, I intend to be the type of customer credit card companies hate: one that they can't make any interest payment money off of because the charges are constantly paid off.

Now, the funny part...you have been waiting for the funny part, right? Yeah, so have I. It seems that ever since I accepted the offer for the one credit card, the offers for others have been pouring in with more frequency. Perhaps this isn't actually the case and I simply haven't noticed them before, but just this week I've already received two - and it's only Tuesday! It just goes to show that, no matter how dark and disgusting one's credit report may be, corporate America is always willing to try and put their filthy paws onto whatever finances you may have remaining.

Comments

[candyblades.livejournal.com]

Does a bank card count when you apply for a rental car? I am unsure of such things.

[illusion-of-joy.livejournal.com]

You'll have to be more specific, as the term "bank card" can refer to either a Credit, Debit or ATM card. A "bank card" is simply a plastic rectangle issued by a bank; the importance is in the function.

Here's how it breaks down: an ATM card can pretty much only be used at an automated teller machine since transactions must always be verified by the user with a personal identification number (PIN). One can not use an ATM card to make purchases online or through vendors who only process via credit.

A debit card can be used like an ATM card, however it has greater functionality as it can be processed like a credit card (note: this is not to be confused with having an actual line of credit - this distinction only applies to the method in which money is transferred, not the actual functionality of the card). This means that one does not have to enter a PIN to make purchases using a debit card. However, one must take care to ensure that one maintains well-kept records of their financial balance as a debit card connects directly to the user's account, which can be overdrawn. Some retailers, such as GetGo and most gas stations, will "freeze" a portion of a debit users account to ensure that he or she can actually pay for the intended purchase (that is, even if you only intend on purchasing $20 worth of gas, by swiping the card in the reader GetGo will temporarily make $70 in your account inaccessible; if you don't have $70 to "freeze," the transaction fails outright). For some reason, car rental companies and online travel discounters do not follow this practise and reject debit cards outright.

A credit card is a portable loan on demand. Whenever a transaction is made on one, money is not deducted directly from the user's account, but tabulated as an interest-accumulating loan. Issuing banks may set a credit limit on the amount of money which can be borrowed on the card at any given time, but this is an artificial value assigned based - allegedly - on one's credit rating. For some reason, credit cards are the only form of collateral accepted by rental car companies and the only way one can register for the full functionality of an online travel discount website.

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