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Running away on credit cards


Coss

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You really need the Amex 'Black' charge card.

 

The real name is the Amercan Express Centurion Card.

 

Can You Afford One?

 

Let's imagine that there were no minimum requirements for a Centurion Card. Any old Tom, Dick or Harry (with amazing credit) could just call up American Express, and get themselves a hot new status symbol. To maintain the exclusivity, American Express levies some pretty hefty service fees for those who hold a Black Card:

For the privilege of opening a Centurion account, you will pay a one-time fee of $5,000.

 

To keep your account, you'll pay an annual fee of $2,500.

 

So make sure to consider the finances of getting a Black Card, and if the mere symbolism is worth the cost in your particular circumstances. For example, If you travel constantly and have a lot of money (or an extremely flexible company expense account), these fees may be offset by the savings you accrue from the Black Card's perks.

 

Once you go black, you never go back

 

But if not, you will be paying thousands of dollars per year strictly for the benefit of being able to impress your friends and/or rivals (which may be worth the cost in and of itself, depending on who you are).

 

 

 

AMEX BLACK CARD

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I did see on another forum once recently, a farang talking about how his wife pissed off somewhere and took his credit card with her and spent up, she was eventually sentenced to a prison term for credit card fraud.

 

Handy having a CC sometimes.

 

 

F*ck that's funny, very good, you can't pay for service like that....

 

 

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that's pretty much what happened, though he racked them up by withdrawing cash to the limit on several cards and 'retiring' to LOS. I'm actually embarrassed for him as the amount wasn't worth never being able to return to his homeland again, (unless after so many years the records simply vanish) and most importantly, alienating his family. His poor mother. Or so I heard...

 

 

 

The chap should have no trouble going back home. Not paying your bills generally is kept in the civil arena, not the criminal arena.

 

 

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The chap should have no trouble going back home. Not paying your bills generally is kept in the civil arena, not the criminal arena.

 

 

The practice of living on credit cards is the norm amongst many in Los Angeles. Many. God knows I've done it several times for 3-4 month periods and then worked to catch up. After one brutal episode I shredded all but one and keep it for dire emergencies. It's been collecting dust a long time, knock on wood.

 

But I've known several people that never recover and live off CCs for an extended time, then bankruptcy. Modus operandi for quite a few. I've also known good people who pooled their CCs to finance a project that didn't succeed and rather than own the ensuing debt ---> bankruptcy is easier. (Credit card financing by aspiring/student/wannabe filmmakers is done ALL the time. You hear the success stories like 'Clerks' and 'Blair Witch,' but not the multiple ones that wash financially).

 

But -- its' not just crazy people trying to make it in Hollywood living on credit cards anymore. A lot of people, right now, are being crushed by debt they cannot overcome, it's everywhere, poster won't have to look far to find fertile ground for research.

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Just for the sake on information, the rules of CCs are different in Belgium, and probably in a lot of other European countries.

 

Everything you buy or pay with your CC during the month is debited automatically at the end of the month, thats it, no financing, no postponing, no accumulation.

CCs are linked to your account and controlled by the bank.

 

Only the last 2 years, exceptional 'good' customers with 'good' credit ( = read no need for CC ! ) have CCs the American way....

 

So running away on CC is virtually impossible here, especially if you have one or max two cards to burn.

 

Just for the reseach for Coss' book.....

 

BB

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not really cc companies can tell where the charges are made and stop it. Only way to do it would be if the charges to the limit are made in farangland and then traveling to LOS and then stopping payments.

 

No you set up a bank account in the UK top it up to cover the minimum payments, the CC companies will continue to allow you to draw cash and use within your limits. That what CC are for.

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that's pretty much what happened' date=' though he racked them up by withdrawing cash to the limit on several cards and 'retiring' to LOS. I'm actually embarrassed for him as the amount wasn't worth never being able to return to his homeland again, (unless after so many years the records simply vanish) and most importantly, alienating his family. His poor mother. Or so I heard...[/quote']

 

The chap should have no trouble going back home. Not paying your bills generally is kept in the civil arena, not the criminal arena.

 

 

On the repayment side, if you can avoid contact for 6 years after they issue a default, the debt is wiped. If you use the card within its rules, make 1 payment then default its civil in the UK not criminal

 

Secured debt is 12 years, they have a habit in the UK of contacting you after 10 years or so (when you have forgotton or think you are safe), if you acknowledge the debt the 12 years start again. Same for unsecured (6 years)

 

So yes its possible on UK CC but very silly!!

 

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I asked a question along these lines sometime ago and it got locked nearly straight away. :dunno:

 

I remember, mainly because I didn't get to read the whole thread but it was a long time ago...

 

I see no reason why the story can't be posted.. Here's what I remember/heard happened. I'm leaving out the names for obvious reasons.

 

A highly esteemed board member started a thread on credit cards. This member was well known to his friends for coming up with "interesting" ideas from time to time. From what I gather/heard from other friends/board members the jist of the plan was to apply for several credit cards at the same time, rack them all up either by buying something which is easily converted to cash, or simply make cash advances up to the limits on all the cards.... One would assume the idea would be to end up with enough cash to "retire" on or at least scrape by in a country like LOS...

 

The original thread was locked as my good friend Lusty points out, but some posts were also modified and/or deleted by the mods as they may have been seen to be encouraging people to commit fraud/rip off banks etc. There was some debate among boardmembers at the time basically along the lines of: Being dishonest is bad vs Fuck the banks they rip us off all the time...

 

Anyway, during a conversation back in farangland, said boardmember has a conversation with another LOS addict (not on the board, but he did join eventually with the help of someone a bit more computer literate than himself - he wasn't known for his brains this lad), and from what I heard, this young lad starts applying for credit cards....

 

He gets a few... takes the money... and buys a one way ticket to the land of smiles.

 

Problem was he hadn't left the country with millions exactly... more like (so I heard) a bit under a million baht. For what it's worth, some of his friends did try to talk him out of it, but I can imagine he would have been like Homer Simpson when he sees a donut.. the blinkers were on and he couldn't board the plane fast enough.

 

Needless to say he starts burning through the money pretty fast, and his Thai girlfriends steps in eventually and convinces him to put what's left in her bank account (I know, I know, alarm bells and red flags started flying in my head too and I made the prediction he'd be dead within months. If not from homelessness, I was pretty sure his liver would have given out at some stage.)

 

I met this lad on one or two trips and lets just say he was a machine. Booze, women, and more freebies than you could poke a stick at. During the London Contingient's 2002/2003 tour he attained almost deity status. The girls loved him, I don't know if it was his "Mai Pen Rai" attitude, his almost feminine (but not gay) demure, generosity with the drinks or their maternal nature to look after him. He did very well down at Gommorah-by-the-sea and left a distinct impression on everyone's mind as he left.

 

Last I heard he was living the life upcountry. The girl is still looking after him, keeps his liver in the manner it's become accustomed to, seems to love him dearly and make sure he's tucked in each night. He still manages to catch up with the lads from time to time, she lets him go nuts in Pattaya sometimes too, and turns a blind eye to his "indescretions". Match made in heaven you could say.

 

There was talk that his family had sent him more money, not squillions but enough to get him out of trouble, but as one could imagine this was blown as well, and last I heard he had lost contact with his family in farangland.

 

Feel free to correct any facts or figures I may have got wrong.. It was a few years ago now and lately my brain seems to have taken holidays.

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