mufutau55:


OK Sir. Thank you. I go keep that for mind. Very helpful.

Hajji M.

Thank you Boss

Lexusgs430:


It's the banks way of easily converting e-money to real raw hard earned cash payments at the detriment of the lender.
A £3000 balance can easily become converted into a £30,000 payment over the length of payment.
A very wicked concept..... ..

There are policy mandate now that requires bank/lender to let you know the length of time you will finished paying the loan with a minimum payment and how much you would be paying. Except you default on payment, there is a limit to their exploitation.

But you must realise the time value of money! All of these lenders' money are held down for years while u pay little amount at your comfort. They are also very exposed to losses. There are many cases were people welsh on them. Your only repercussion is destruction of your credit worthiness. Many African Americans abuse this previlege. So there are two sides to the coins.

Schwartz:
I know some ladies here who relocated and they can't live with their husband after doing big wedding in Nigeria. This is because the man is still legally married to his wife so this men actually run two homes. The paper wife is legal while the Naija woman is illegally married to them pending when they can divorce. Its a really sorry state. When they get here they find out that it's not as fast and as easy as they expected the man to leave his wife and to be with them. One babe I personally know gave up everything, her job, her life back just to be with this man. After the elaborate wedding they had in Naija. Years gone by the dude won't divorce his oyinbo wife. The few times she has secret access to the man she posts it on Facebook and her friends are envying her not knowing that she is lonely and cold here. Many such girls abound abroad.

How's this remotely possible?

Well, this can't be in the US sha.

Tazdroid:
And that bobo no fit arrange beta lies for each of these questions??

Hmmm, by the way, all these questions are closely related to materialism. Na only money una dey find? Na gold diggers dey ask these kain yeye questions.

If you ask me those questions I'm fleeing from you.

Tazdroid:
And that bobo no fit arrange beta lies for each of these questions??

Hmmm, by the way, all these questions are closely related to materialism. Na only money una dey find? Na gold diggers dey ask these kain yeye questions.

I thought I was the only one that thought that.

EgunMogaji:

How's this remotely possible?
Well, this can't be in the US sha.

Oga @EgunMogaji

Abi, you wan go too? Yankee or Abroad? London or England?

Hajji M.

SirJeffry:
Oga, debt profile, length of credit alongside good debt servicing habit make up good credit. Those that have CREDITKARMA account will understand.
As for your last paragragh, I've lived in Los Angeles long before you even applied for your Malaysian visa in Lagos but I'm also a villager like you called me 'cos I travel home every year.

Most Nigerians in Malay are fraudsters or drug dealers.

mufutau55:


Oga @EgunMogaji

Abi, you wan go too? Yankee or Abroad? London or England?

Hajji M.

I'll take Paris or France.

Na envy I dey envy those guys and their short 5 hour flights to Lagos

EgunMogaji:

I'll take Paris or France.
Na envy I dey envy those guys and their short 5 hour flights to Lagos

I dey jealous of everybody wey dey abroad ni o. One day we go also travel out. I am keeping my fingers crossed.

Hajji M.

Mcowubaba:
Credit card is a must have.
That don't mean we are debtors.

Anyway, people arguing don't really understand the system. Crazy

Very true
One cannot even rent an apartment without a credit history.

Mayflowa:


There are policy mandate now that requires bank/lender to let you know the length of time you will finished paying the loan with a minimum payment and how much you would be paying. Except you default on payment, there is a limit to their exploitation.

But you must realise the time value of money! All of these lenders' money are held down for years while u pay little amount at your comfort. They are also very exposed to losses. There are many cases were people welsh on them. Your only repercussion is destruction of your credit worthiness. Many African Americans abuse this previlege. So there are two sides to the coins.

The only repercussion is not only destruction of credit file, but -
- Been made a bankrupt
- If you own a property, a charge would be levied on that property. When you eventually refinance or sell the property, they would get their money back + accrued interest........
- Charge made to wages and passed directly to employer for deduction in wage
Etc etc etc etc

Mayflowa:


There are policy mandate now that requires bank/lender to let you know the length of time you will finished paying the loan with a minimum payment and how much you would be paying. Except you default on payment, there is a limit to their exploitation.

But you must realise the time value of money! All of these lenders' money are held down for years while u pay little amount at your comfort. They are also very exposed to losses. There are many cases were people welsh on them. Your only repercussion is destruction of your credit worthiness. Many African Americans abuse this previlege. So there are two sides to the coins.

Hence my position is stay very wide clear of credit cards. Spend only what you have and avoid all the temptations of buying on NEVER NEVER.....

Lexusgs430:


The only repercussion is not only destruction of credit file, but -
- Been made a bankrupt
- If you own a property, a charge would be levied on that property. When you eventually refinance or sell the property, they would get their money back + accrued interest........
- Charge made to wages and passed directly to employer for deduction in wage
Etc etc etc etc

What if you no come get any of the things you just listed? No job and no property. Wetin they go do now?

CplusJason:
That's the big mistake my cousin is making in Australia.

if u have a mortgage ur savings is protected

EgunMogaji:


How's this remotely possible?

Well, this can't be in the US sha.

Or any western country. While in an active marriage, no other marriage visa applications can be made for the new wife.
Not unless he married her in Nigeria, left her in Nigeria and regularly or irregularly, goes for engine oil top up and oil change interim or full service..... .

ikp120:

What if you no come get any of the things you just listed? No job and no property. Wetin they go do now?

The balliffs keep chasing you. The debt never entirely disappears....
The debt keeps getting sold and resold, to those firms that buys unpaid debts and they would keep chasing, eventually offering all sorts of discounts....

Lexusgs430:


Hence my position is stay very wide clear of credit cards. Spend only what you have and avoid all the temptations of buying on NEVER NEVER.....

You are not seen as human in America or other developed world if you don't operate credit card? Your credit history tell a lot about you. Some person would not even do any business with you when you don't have credit history.

Once you pay as and wen due, you are good to go or like Msnas, you can use the credit card to buy stuff and then return money back to it before interest build on it.

Mayflowa:


You are not seen as human in America or other developed world if you don't operate credit card? Your credit history tell a lot about you. Some person would not even do any business with you when you don't have credit history.

Once you pay as and wen due, you are good to go or like Msnas, you can use the credit card to buy stuff and then return money back to it before interest build on it.

Not all cases. I agree that credit history build up is necessary in certain cases, but not in all cases.....

Mayflowa:


You are not seen as human in America or other developed world if you don't operate credit card? Your credit history tell a lot about you. Some person would not even do any business with you when you don't have credit history.

Once you pay as and wen due, you are good to go or like Msnas, you can use the credit card to buy stuff and then return money back to it before interest build on it.

Till the credit card becomes a fish bone in the lenders throat......

Lexusgs430:


The balliffs keep chasing you. The debt never entirely disappears....
The debt keeps getting sold and resold, to those firms that buys unpaid debts and they would keep chasing, eventually offering all sorts of discounts....

Hmmm. What if you pick race and fly out of the country to another continent?

CuteJude:
stories that touch

Side chicks dont care

Abi una care?




.
No ask me how i knw , na so we see am

ikp120:

Hmmm. What if you pick race and fly out of the country to another continent?

LOL....... .........
And hopefully you would have learned a bitter lesson and not continued from where you stopped, in your new country or continent of credit card asylum.
You dey plan to eventually run?

only foolish guys will tell you all this,

SirJeffry:
Everything I'm about to write down here is based on a family feud currently going on between a young man and his new wife here.

This young man has no steady job, lives a flamboyant life and post all kind of pictures on social media where he met the wife. I'm pained because the wife in question happens to be my town's girl and after hearing her side of the story, I was mad at her. Well, this is not the topic for today but let me give our sisters some advice here.
These are questions to ask before someone brings you here to suffer unnecessarily;

WHAT DO YOU DO ABROAD? Let him tell you where he works and possibly show you his work ID. If he tells you he's a biz man, watch him closely, that could be a red flag. I know there are genuine bizmen but most unserious and unemployable guys abroad pose as bizmen.

WHAT'S YOUR DEBT PROFILE? Generally in America, if you don't have some debts especially credit cards, you don't qualify for certain things but that doesn't mean one should live on credit.

IS THAT YOUR FLASHY CAR OWNED OR FINANCED? This may lead to you driving today and trekking tomorrow. Without a steady job, car financing coys may take back their car anytime there's a default in payment.

DO YOU LIVE ALONE? This is self explanatory.

WHAT'S YOUR TOTAL SAVINGS AMOUNT? I know this sounds odd but try to get an extimate by calculating the amount he saves monthly. Ask him jokingly if he saves for his future family. He should be more family oriented than friends oriented. "Too much sending my guys money at home" is a no no.

Lastly, if he doesn't personally come down for your wedding except with a very cogent reason maybe life threatening, he probably isn't a legal resident ie no green card or citizenship. In this case, you may likely stay longer in Nigeria until he gets his papers before you join him. Refuse such union because sometimes, he may be tangled with a lady here already for papers, a union he may not easily come out from.

If ladies do this simple research before accepting marriage proposals from obodo oyibo husbands, rate of domestic violence among Nigerians in the States will be at its minimum.

Yankee marriage is favourable to ladies who their husbands already made the ground running. They come to consolidate on their husband's achievements and prosper it more.

Lexusgs430:


I disagree. A credit card is not a must have. Some people love them, while others hate them.
I am on the latter camp.....

The way credit card applications are accessed in North America is different from the UK. E.g in Canada, you would be given a credit card of about $1000 straight up without credit history once you enter a bank to open an account; as long as you arrive the country on a permanent residence visa. The bank would even add a payment protection insurance on it cos they know the new immigrant has got no clue. Alot of Nigerians or people from 3rd world country do not understand how a credit card works and the bank milks them well of their hard earnings from survival jobs. In the UK, it could take up to a year before prime lenders even approve a credit card of say £250.

CFCman:

I got the exact % wrong, but a majority of Americans can't afford a $500-$1000 emergency payment.
https://www.google.com/amp/s/amp.cnn.com/money/2017/01/12/pf/americans-lack-of-savings/index.html

That is a shocker. The first thing I learned in Business School is the art of savings. With that, the future is very bright. I loathe credits and I don't owe a Cents on my cards. Always pay up at the end of the billing circle. Used the same system with my wife to pay up our mortgage in 14 years.

Lucasbalo:
That is a shocker. The first thing I learned in Business School is the art of savings. With that, the future is very bright. I loathe credits and I don't owe a Cents on my cards. Always pay up at the end of the billing circle. Used the same system with my wife to pay up our mortgage in 14 years.

It depends on how one uses the card. There are some credit cards that give huge cashback on credit card spending, and if you are smart. You wont even pay a cent in interest.
I have a departmental store credit card that gives back around 30 bucks for shopping in the store if i make a purchase of $3000 upwards on it. So i pay for expensive items using the card and once my cashback reflects in about 3 days. I pay back the $3000 spent so credit card goes back to zero balance. I heard of someone that does the same thing, and he bought himself a 50 inches tv from the accrued cash back at the end of the year
But credit cards are very delicate. easy to lose control of spending on it, and all goes downhill from there.

Lexusgs430:


LOL....... .........
And hopefully you would have learned a bitter lesson and not continued from where you stopped, in your new country or continent of credit card asylum.
You dey plan to eventually run?

Lol
When water don pass garri, na to evacuate be some sharp guys' last resort o . I no dey plan to eventually run o.

salford:

The way credit card applications are accessed in North America is different from the UK. E.g in Canada, you would be given a credit card of about $1000 straight up without credit history once you enter a bank to open an account; as long as you arrive the country on a permanent residence visa. The bank would even add a payment protection insurance on it cos they know the new immigrant has got no clue. Alot of Nigerians or people from 3rd world country do not understand how a credit card works and the bank milks them well of their hard earnings from survival jobs. In the UK, it could take up to a year before prime lenders even approve a credit card of say £250.

Again some assertions are wrong. Some people get credit cards with high limits, without any credit history. Certain factors would have to play in applicants favour. The misconception of the notion of credit card, is some people think it's free money or just swipe and away you go.
A credit card should actually be re-christened DEBT CARD in deep red letters and BOLDED..... . ..

Lexusgs430:


Again some assertions are wrong. Some people get credit cards with high limits, without any credit history. Certain factors would have to play in applicants favour. The misconception of the notion of credit card, is some people think it's free money or just swipe and away you go.
A credit card should actually be re-christened DEBT CARD in deep red letters and BOLDED..... . ..

In Canada, the card is as good as guaranteed. The bank even advertise it to new immigrants in newspapers. Big business for them.
In my 7 years of processing card applications and selling it in the UK. I have never seen a new immigrant approved of a credit card a day or two after arriving the country.

Yes. CC should be stamped just like its done for tobacco packs, but how would the bank milk people. if they do that

ikp120:

Lol
When water don pass garri, na to evacuate be some sharp guys' last resort o . I no dey plan to eventually run o.

Nothing we dey come, wey ground no fit take ....

I disagree with this write up and my reasons are these;

Not everyone who's not coming home for every little issue is shady, they may have a legitimate job or activity that must be given rapt and undivided attention.

Only those who want to live a fake lifestyle live entirely on credit card.

Savings?...Brother you know how many people and how many lines these people change to stay safe from "starving, dying, sick and dead" friends and relatives.

Niccur I don't live alone, I live in New York and it's damn expensive but not cohabiting like our friends in the UK.

Who will go ahead and tell a Nigerian their total savings? I don't know about others but don't play that card, ask the recently deceased Marine/Naval dude from Imo State.

Then again Op needs to change the topic to "...Bobo that Lives in the US, abroad no be only Amurka..."

CFCman:

Very true
One cannot even rent an apartment without a credit history.

I heard someone advising another not to accept any credit card except mortgage and I wonder who will give him the mortgage with no credit history.

Once you land in US, you either get Bank of America secure credit card of $300 or CAPITAL ONE of $500. That's the beginning of your credit bondage here.