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Monday, May 25, 2015

Tell me how many credit cards you hold, and I will tell who you are, even if you are a cheap Tequila girl

Those Canadian banks are always ready to make money on the back of poor people. When they are not looking to increase the interest rate of your credit line for no reason like did to me RBC Royal Bank a few years ago - or even worst - they offer you credit line when you did not even ask for one. Never mind, you are pre-approve dude! Ohh yeahh. But does that make any sense at all? Nope!

Credit cards, credit lines, name them, I love them all, especially at low interest rates. I am the perfect example of the typical very nice girl next door who only have to play of her sexy lashes to have all bankers of Montreal downtown throwing money at her with all sort of credit cards and credit lines, you can barely imagine.

Here is what look my credit portfolio:

X credit card with a credit card limit:  $2 600
X credit card with a credit card limit: $7 000
X credit card with a credit card limit: $5 000
X credit line with a credit line limit: $5 000
X credit card with a credit card limit: $500
X credit line with a credit line limit: $15 000
X credit card with a credit card limit: $11 300
X credit line with a credit line limit: $10 000

Best of all, I hold an invisible debt - my margin account debt - $66 000 - doesn't appear on any credit score. Its magic. And I have $17 000 of that magic left to be spend.

I  am currently holding on to $139 000 in term of credits, which is a one thousand more than my annual income for 2014... Is it being consider normal by banks in Canada to hold the equivalent of one year of salary before taxes in credit junk? Unfortunately, yes it is. And they are the ones who need to be blame for the sometime too high level of debt hold by young people.

But this is not the worst.

No matter what is being said about Canada, our beautiful country is corrupted all around. Another example of corruption in Canada is the extreme high cost of university education. Those who decided to enroll in those extremely expensive learning programs can only be a bunch of dummies. Still, its completely immoral to see that happening. University staff are just as corrupted as Stephen Harper government

Education is out of reach, and employment is out of reach too... We lost thousands and thousands of job in April. But during that time university staff keep their big paycheque deep inside their pockets.

Another matter of corruption is the too high cost of housing - especially in cities like Vancouver and Toronto. And guess who make huge bucks from that type of corruption? Banks. The same bank that is now offering me a credit line at less than 7% is also highly involved in the mortgage market.

I have an annual income salary of less than 60k, I have a net worth less than 200k, but no matter what, the Canadian Imperial Bank Of Commerce had approved me for a credit line... Don't you see that there's something wrong here? I would like to see Canada being on top of everything but here like in too many places worldwide, our system is all fuck up. We are not better. And I am a credit junkie.

1 comment:

Anonymous said...

Life is about choices... If the credit facilities were not being offered to you as they are, you would probably be crying foul because you cannot get credit. Be grateful you have access, just learn to control your use of them... Long term if you invest in these credit facility companies, you too can reap the rewards of others insatiable need to have more than they can afford. - Cheers.


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