/biz/ - Business & Finance

>>53892749
Dept obligations are probably sold as securities.

0% reserve requirements = 0 reasons for the banks to be responsible

>>53892769
this. to lenders, debt is an asset. they are hungry to issue debt because they either get paid interest on money they never had to begin with, or they can sell that phantom money to someone else

>>53892749
Accounts receivable can be counted as income it’s all just trickery to make number appear to go up

>>53892749
>why don't credit cards tighten lending?

reduce credit limits.

they have been. i read through credit card boards every now and then, there's been an increase in people complaining of sudden credit limit decreases, financial reviews (i got one from chase last fall when i requested a credit limit increase but supposedly not related), and even cases where banks decrease to like a few hundred dollars total limit if they trip the risk assessment algorithms and want to force the customer to stop using their card or close altogether.

>>53892769
>americans can buy/sell, speculate and invest on ((((((((((debt))))))))))

lol. lmao even

>>53893030
You can do this worldwide retard.
https://www.bundesbank.de/en/statistics/money-and-capital-markets/securities-issues/no-01-sales-and-purchases-of-debt-securities-in-germany-651626
https://www.engage.hoganlovells.com/knowledgeservices/news/debt-capital-markets-regulatory-environment-in-germany-a-qa_1
Euros coping about Americans while suffering from the same issues is never not going to be fucking hilarious

>>53893030
Underaged lol.

>>53893073
>>53893098
post nose

>>53893100
I'm not arguing that this is a good practice, rather it is a well known practice. Europe still hasn't recovered from 2008. You're just as knee deep into this shit as we are, but you don't remember because you're a baby.

any tips to increase my credit limit?
let's say i have a card with $10k
should i throw everything at crypto, then paying in full or monthly?

i mean..debtmaxxing is good in this case or does it damages my goy score althought i'm going to pay everything?

>>53893370
I have 8k on 2 cards that I make minimum payments on. The key is signing up for 0% balance transfer offers and just transferring it. I bought gold with it a year ago so I lost money sadly but the point still stands, I won’t have to pay interest until late 2024

>>53893370
>any tips to increase my credit limit?
The limits are related to your earnings and past reliability. Make more money and pay your bills on time.

Buy yourself a tranche of debt, good for the soul

>>53892749
they are doing that right now. im sure by the end of the year it will be ipmossible to get one with a shitty goy score. get as much credit card as you can now and debtmaxx it into crypto or gold. thank me later. anytime a bill comes, throw it away. not your problem.

>>53893392
already own 6k out of 8k and i'm thinking of spending another 4k right now to buy some crypto, waiting this week for a pump, then taking profits and investing in another nice project and hoping to doubling my initial in 1 or 2 months and holding the rest..
i'm making minimum payments so i'm ok so far...

>>53893452
I've already bought a house I can't afford with an FHA loan.
When the next subprime mortgage crisis happens I'll just mail the keys to the bank and walk away just like people did in 2008 when their mortgage was underwater.

>>53893460
Get that sweet sweet 0%. How I did it is I Venmo’d my brother like 3k and had him send it back. Capital one and Wells Fargo classify it as a normal transaction and not cash advance

>>53893370
heres what i did

>online questionaire page on creditcard bank website appears after you click "request credit limit increase"

>why yes i am a senior IT manager making $500,000/yr salary

>congratulations you are approved for another $20,000 line increase

>proceed to max out the card over the next month on *redacted*

>bills come, straight to the shredder

>months later the calls start, simple phone app to block 877 prefixes solves that

>goyscore plunges to low 400s after a year

>account cycles through multiple collections agencies

>most recent agency pathetically begging to "settle for our generous offer of 40% of your total account"

>laugh and throw into shredder

>that was 2 years ago

>decide to check goy score out of curiosity a few months ago on a whim

>its back up to the high 650s for some reason

>wtf

>getting ready to play the game again and stack more *redacted* while prices are still low


and thats how i met your banker

>>53893505
Things that never happened

>>53893520

>>53893560
Lol.

>>53893560
Haha fuckin wow. What did you buy?

>>53893505
I must confess i'm only interested to increase my credit is to debtmaxx on crypto. I can't do it now because i have to wait for some legal paperwork until my deeds are no longer mine..

after that, $90k straight out of the jews pockets and i'm not paying back until i "make it"

i'm even paying credit card debts with other credit cards... at the end i'll pay everything so they can see how of a good goy am i and then asking for another credit limit increase and then executing my plan

either i make it or not...there's no between

>>53893505
Very based ser

I must confess i'm only interested in increasing my credit limit is to debtmaxx on crypto. I can't do it now because i have to wait for some legal paperwork until my deeds are no longer mine..

after that, $90k straight out of the jews pockets and i'm not paying back until i "make it"

i'm even paying credit card debts with other credit cards... at the end i'll pay everything so they can see how of a good goy i am and then asking for another credit limit increase and then executing my plan

either i make it or not...there's no between

>>53893691
also i'm taking some personal loans if possible from retail stores and taking as many credit cards as possible.

I'm gonna make it big or nothing

>>53893578
thats private

>>53893884
>>53893578
THIS NIGGER BLEW IT ON SOME ONLYFANS WHORE

>>53892749
Because that would be fucking stupid. Do you not understand how lending works? They WANT you to build debt because they make money on the interest.

>>53893691
>. I can't do it now because i have to wait for some legal paperwork until my deeds are no longer mine..


completely unnecessary. i studied the legal aspects before debtmaxxing extensively. credit card debt is virtually risk free for the consumer. there is no power for banks to seize your assets. the most they can do is sue you which they almost never do. and even if they did sue you, the worst that could happen is they are able to garnish wages or other income. they cant be awarded your land or assets. if you are NEET they wont sue you. also you can always just file bankruptcy as a NEET and have the debt wiped away clean with no obligations forever. you can do this as non-NEET too but non-NEETs might care more about their goy score which will go down after filing bankruptcy.

>>53892749
because they are betting on you paying off your debt, when, as a burger, you can just stop paying and let your credit score shit the bed.

>>53892749
>be bank
>create money out of air
>give new created money away for high credit rates

when you could print money why would you stop to lend it for high interest ?

>>53892749
My bank recently raised my cc limit from 4k to 20k and my personal loc from 15 to 30k. I only use my cc for bills and expenses which is like 575 cad

I have multiple credit cards with almost 100k of a line of credit kek

>>53893691
Just FYI if they investigate why you aren't making minimum payments, especially if you have the ability, you could get nailed for credit card fraud.

>>53892749
I just got a credit card for the sole purpose of feeding the credit score jew. I used exclusively debit until.

>>53892749
They know the government will do debt forgiveness after the student loan debt forgiveness becomes a thing. They'll get their money.

>>53893520
No, i did the same. It works.

>>53893560
we need more of this on /biz. absolutely and most profoundly based.

>>53892749

Why would a business restrict its sole means of getting money?

>>53894117
I actually just read an academic paper on bankruptcy and this anon is spot on. CC companies know there are 3 types of debtors:

1. always pays on time
2. defaults and will never pay
3. defaults and will pay

they make money only on 3. in fact, the exploit debtor #3. for debtors #2 and #3, the CC company has to determine which one you are, because if you are #2, they lose money garnishing. but make it big if they garnish and you are #3. the most advantageous approach is to be debtor #2, default, and file for bankruptcy immediately before garnishment. depending on the state you live in and which chapter of bankruptcy you file for - (in reality 7 and 13 are essentially the same (sum-wise)). you keep a lot of assets. particularly Texas and Florida. other states have limits. i.e. if you have below 25K equity in house, then you keep it. if you have 10K in stocks, you keep it. if you have a retirement account, you keep it.

bankruptcy is a put option for the debtor.

>>53892749
Because the goal is destroy the current financial system and for everyone to own nothing.

>>53893884
>>53893691
>>53893702
>>53893578
>>53893567
>>53893560
>yfw when you realize retards like this are the reason why crypto still hasn't gone to zero