Foreign Currency Usage Limits on Credit Cards

[The_Honourable]

Traveling

Small business purchases

Bringing in their own vehicles to bypass the stealershipd

Buying hard to get parts for your vehicle while trying to avoid excessive markups

Ladies and Shein

Ect ect

Credit card could take care of most on that list

Not everybody is qualified to get a credit card, harder to get if you have loans or mortgages

Even if you do get a credit card, the bank can give you one with a low forex limit. To make matters worse, banks are reducing forex on credit cards across the board.

Some understand the trappings of a credit card and choose to stay away from it.

Cash is king if your credit card is lost, compromised or the bank disables it while you are travelling.

Then there are those who believe that banks don't need to know all your legitimate transactions.

[pugboy]

republic gives trouble to get a cc too
they ask all kinda ting to determine how much limit you get

[triniterribletim]

If you don't have the equivalent of 1000 USD just knocking around in a bank account, you're not the sort of person they would want to give a credit card to. Back in the day I had to secure my first credit card with a deposit of 500 USD, but they probably don't go that low now. If you don't have 7000 TTD that you can just let sit and chill in an Abercrombie, then unless you are independently wealthy, have a well paying job or a government job, it's hard luck for you. If you get your foot in the door, then it's only a simple matter of spending and paying a decent amount each month, like passing all your expenses through the card and then paying off your balance and the increases should come. My first increase went from 3500 to 8000 and the second three months after that to 17000. DO NOT FALL INTO A DEBT TRAP AND DO NOT USE IT LIKE A LOAN. ONLY SPEND WHAT YOU CAN COVER WITHIN THE CYCLE. This is very important.

[Mmoney607]

Traveling

Small business purchases

Bringing in their own vehicles to bypass the stealershipd

Buying hard to get parts for your vehicle while trying to avoid excessive markups

Ladies and Shein

Ect ect

Credit card could take care of most on that list

Not everybody is qualified to get a credit card, harder to get if you have loans or mortgages

Even if you do get a credit card, the bank can give you one with a low forex limit. To make matters worse, banks are reducing forex on credit cards across the board.

Some understand the trappings of a credit card and choose to stay away from it.

Cash is king if your credit card is lost, compromised or the bank disables it while you are travelling.

Then there are those who believe that banks don't need to know all your legitimate transactions.

Cash only applies to credit card and if you don't have two credit cards, traveling is risky, never know what could happen out there

[paid_influencer]

If you don't have the equivalent of 1000 USD just knocking around in a bank account, you're not the sort of person they would want to give a credit card to. Back in the day I had to secure my first credit card with a deposit of 500 USD, but they probably don't go that low now. If you don't have 7000 TTD that you can just let sit and chill in an Abercrombie, then unless you are independently wealthy, have a well paying job or a government job, it's hard luck for you. If you get your foot in the door, then it's only a simple matter of spending and paying a decent amount each month, like passing all your expenses through the card and then paying off your balance and the increases should come. My first increase went from 3500 to 8000 and the second three months after that to 17000. DO NOT FALL INTO A DEBT TRAP AND DO NOT USE IT LIKE A LOAN. ONLY SPEND WHAT YOU CAN COVER WITHIN THE CYCLE. This is very important.

the banks does give you just enough rope to hang yourself

[The_Honourable]

Traveling

Small business purchases

Bringing in their own vehicles to bypass the stealershipd

Buying hard to get parts for your vehicle while trying to avoid excessive markups

Ladies and Shein

Ect ect

Credit card could take care of most on that list

Not everybody is qualified to get a credit card, harder to get if you have loans or mortgages

Even if you do get a credit card, the bank can give you one with a low forex limit. To make matters worse, banks are reducing forex on credit cards across the board.

Some understand the trappings of a credit card and choose to stay away from it.

Cash is king if your credit card is lost, compromised or the bank disables it while you are travelling.

Then there are those who believe that banks don't need to know all your legitimate transactions.

Cash only applies to credit card and if you don't have two credit cards, traveling is risky, never know what could happen out there

Yeah but you losing the point, there are reasons why persons cannot get a credit card but you want persons who travel to have two. That might work in a family setting but many families out there don't have that option either.

[VexXx Dogg]

If you don't have the equivalent of 1000 USD just knocking around in a bank account, you're not the sort of person they would want to give a credit card to. Back in the day I had to secure my first credit card with a deposit of 500 USD, but they probably don't go that low now. If you don't have 7000 TTD that you can just let sit and chill in an Abercrombie, then unless you are independently wealthy, have a well paying job or a government job, it's hard luck for you. If you get your foot in the door, then it's only a simple matter of spending and paying a decent amount each month, like passing all your expenses through the card and then paying off your balance and the increases should come. My first increase went from 3500 to 8000 and the second three months after that to 17000. DO NOT FALL INTO A DEBT TRAP AND DO NOT USE IT LIKE A LOAN. ONLY SPEND WHAT YOU CAN COVER WITHIN THE CYCLE. This is very important.

the banks does give you just enough rope to hang yourself

People who can’t control finances hang themselves. The banking system is a useful tool for most normal working folks who use it to uplift themselves whether it’s a car or house. Not gonna say the banks blameless eh, them fawkers do some serious predatory lending too.

[hover11]

If you don't have the equivalent of 1000 USD just knocking around in a bank account, you're not the sort of person they would want to give a credit card to. Back in the day I had to secure my first credit card with a deposit of 500 USD, but they probably don't go that low now. If you don't have 7000 TTD that you can just let sit and chill in an Abercrombie, then unless you are independently wealthy, have a well paying job or a government job, it's hard luck for you. If you get your foot in the door, then it's only a simple matter of spending and paying a decent amount each month, like passing all your expenses through the card and then paying off your balance and the increases should come. My first increase went from 3500 to 8000 and the second three months after that to 17000. DO NOT FALL INTO A DEBT TRAP AND DO NOT USE IT LIKE A LOAN. ONLY SPEND WHAT YOU CAN COVER WITHIN THE CYCLE. This is very important.

the banks does give you just enough rope to hang yourself

People who can’t control finances hang themselves. The banking system is a useful tool for most normal working folks who use it to uplift themselves whether it’s a car or house. Not gonna say the banks blameless eh, them fawkers do some serious predatory lending too.

Predatory lending is the name of the game, there is no legislation for such so they exploit it to the fullest, Island finance is the worst , dealing with them is similar to selling your soul to the devil. The ppl who do business with these institutions have little to no financial management skills

[paid_influencer]

the salaried people with higher incomes are the ones who end up in the most trouble. they get the house and the car and credit card and all the niceness on black friday but have debt wrapped around their neck too. takes a lot of restraint to see a "good" salary and say you still can't afford that mortgage or car payment, and rather take maxi, live with relatives, not shop for christmas, etc to avoid taking on debt.

[adnj]

If you don't have the equivalent of 1000 USD just knocking around in a bank account, you're not the sort of person they would want to give a credit card to. Back in the day I had to secure my first credit card with a deposit of 500 USD, but they probably don't go that low now. If you don't have 7000 TTD that you can just let sit and chill in an Abercrombie, then unless you are independently wealthy, have a well paying job or a government job, it's hard luck for you. If you get your foot in the door, then it's only a simple matter of spending and paying a decent amount each month, like passing all your expenses through the card and then paying off your balance and the increases should come. My first increase went from 3500 to 8000 and the second three months after that to 17000. DO NOT FALL INTO A DEBT TRAP AND DO NOT USE IT LIKE A LOAN. ONLY SPEND WHAT YOU CAN COVER WITHIN THE CYCLE. This is very important.

the banks does give you just enough rope to hang yourself

People who can’t control finances hang themselves. The banking system is a useful tool for most normal working folks who use it to uplift themselves whether it’s a car or house. Not gonna say the banks blameless eh, them fawkers do some serious predatory lending too.

Predatory lending is the name of the game, there is no legislation for such so they exploit it to the fullest, Island finance is the worst , dealing with them is similar to selling your soul to the devil. The ppl who do business with these institutions have little to no financial management skills

False.

[hover11]

If you don't have the equivalent of 1000 USD just knocking around in a bank account, you're not the sort of person they would want to give a credit card to. Back in the day I had to secure my first credit card with a deposit of 500 USD, but they probably don't go that low now. If you don't have 7000 TTD that you can just let sit and chill in an Abercrombie, then unless you are independently wealthy, have a well paying job or a government job, it's hard luck for you. If you get your foot in the door, then it's only a simple matter of spending and paying a decent amount each month, like passing all your expenses through the card and then paying off your balance and the increases should come. My first increase went from 3500 to 8000 and the second three months after that to 17000. DO NOT FALL INTO A DEBT TRAP AND DO NOT USE IT LIKE A LOAN. ONLY SPEND WHAT YOU CAN COVER WITHIN THE CYCLE. This is very important.

the banks does give you just enough rope to hang yourself

People who can’t control finances hang themselves. The banking system is a useful tool for most normal working folks who use it to uplift themselves whether it’s a car or house. Not gonna say the banks blameless eh, them fawkers do some serious predatory lending too.

Predatory lending is the name of the game, there is no legislation for such so they exploit it to the fullest, Island finance is the worst , dealing with them is similar to selling your soul to the devil. The ppl who do business with these institutions have little to no financial management skills

False.

Evidence?

[adnj]

If you don't have the equivalent of 1000 USD just knocking around in a bank account, you're not the sort of person they would want to give a credit card to. Back in the day I had to secure my first credit card with a deposit of 500 USD, but they probably don't go that low now. If you don't have 7000 TTD that you can just let sit and chill in an Abercrombie, then unless you are independently wealthy, have a well paying job or a government job, it's hard luck for you. If you get your foot in the door, then it's only a simple matter of spending and paying a decent amount each month, like passing all your expenses through the card and then paying off your balance and the increases should come. My first increase went from 3500 to 8000 and the second three months after that to 17000. DO NOT FALL INTO A DEBT TRAP AND DO NOT USE IT LIKE A LOAN. ONLY SPEND WHAT YOU CAN COVER WITHIN THE CYCLE. This is very important.

the banks does give you just enough rope to hang yourself

People who can’t control finances hang themselves. The banking system is a useful tool for most normal working folks who use it to uplift themselves whether it’s a car or house. Not gonna say the banks blameless eh, them fawkers do some serious predatory lending too.

Predatory lending is the name of the game, there is no legislation for such so they exploit it to the fullest, Island finance is the worst , dealing with them is similar to selling your soul to the devil. The ppl who do business with these institutions have little to no financial management skills

False.

Evidence?

Chap. 84:04

[PariaMan]

Went to FCB to borrow money to build an apartment below my house they said ok, they will lend me 60 to build, but they will keep 20 in a fixed deposit

I said, "How will I finish the apartment and rent it out to pay back the loan if you keep 20?"

That, to me, is predatory behavior.

I ended up getting a home equity loan from TTMF with the full amount in my account and roughly the same installment

[The_Honourable]

Went to FCB to borrow money to build an apartment below my house they said ok, they will lend me 60 to build, but they will keep 20 in a fixed deposit

I said, "How will I finish the apartment and rent it out to pay back the loan if you keep 20?"

That, to me, is predatory behavior.

I ended up getting a home equity loan from TTMF with the full amount in my account and roughly the same installment

They tried that with me also during the "more the merrier" promotion two years ago. Wanted 80k borrow for renovations, they said no problem, all my docs in order, to tell me i am "approved" but you can only get 68k cash, 2k or so would go to fees and they keep 10k in an account to "build up my savings"

[AlphaMan]

If you don't have the equivalent of 1000 USD just knocking around in a bank account, you're not the sort of person they would want to give a credit card to. Back in the day I had to secure my first credit card with a deposit of 500 USD, but they probably don't go that low now. If you don't have 7000 TTD that you can just let sit and chill in an Abercrombie, then unless you are independently wealthy, have a well paying job or a government job, it's hard luck for you. If you get your foot in the door, then it's only a simple matter of spending and paying a decent amount each month, like passing all your expenses through the card and then paying off your balance and the increases should come. My first increase went from 3500 to 8000 and the second three months after that to 17000. DO NOT FALL INTO A DEBT TRAP AND DO NOT USE IT LIKE A LOAN. ONLY SPEND WHAT YOU CAN COVER WITHIN THE CYCLE. This is very important.

the banks does give you just enough rope to hang yourself

People who can’t control finances hang themselves. The banking system is a useful tool for most normal working folks who use it to uplift themselves whether it’s a car or house. Not gonna say the banks blameless eh, them fawkers do some serious predatory lending too.

Predatory lending is the name of the game, there is no legislation for such so they exploit it to the fullest, Island finance is the worst , dealing with them is similar to selling your soul to the devil. The ppl who do business with these institutions have little to no financial management skills

I know someone who borrow a loan from island finance to buy a Nissan np 300..
Guy said he knows what he's doing.

[VexXx Dogg]

If you don't have the equivalent of 1000 USD just knocking around in a bank account, you're not the sort of person they would want to give a credit card to. Back in the day I had to secure my first credit card with a deposit of 500 USD, but they probably don't go that low now. If you don't have 7000 TTD that you can just let sit and chill in an Abercrombie, then unless you are independently wealthy, have a well paying job or a government job, it's hard luck for you. If you get your foot in the door, then it's only a simple matter of spending and paying a decent amount each month, like passing all your expenses through the card and then paying off your balance and the increases should come. My first increase went from 3500 to 8000 and the second three months after that to 17000. DO NOT FALL INTO A DEBT TRAP AND DO NOT USE IT LIKE A LOAN. ONLY SPEND WHAT YOU CAN COVER WITHIN THE CYCLE. This is very important.

the banks does give you just enough rope to hang yourself

People who can’t control finances hang themselves. The banking system is a useful tool for most normal working folks who use it to uplift themselves whether it’s a car or house. Not gonna say the banks blameless eh, them fawkers do some serious predatory lending too.

Predatory lending is the name of the game, there is no legislation for such so they exploit it to the fullest, Island finance is the worst , dealing with them is similar to selling your soul to the devil. The ppl who do business with these institutions have little to no financial management skills

I know someone who borrow a loan from island finance to buy a Nissan np 300..
Guy said he knows what he's doing.

You can depend on i-lan fine-antsssssssssssssss

[hover11]

If you don't have the equivalent of 1000 USD just knocking around in a bank account, you're not the sort of person they would want to give a credit card to. Back in the day I had to secure my first credit card with a deposit of 500 USD, but they probably don't go that low now. If you don't have 7000 TTD that you can just let sit and chill in an Abercrombie, then unless you are independently wealthy, have a well paying job or a government job, it's hard luck for you. If you get your foot in the door, then it's only a simple matter of spending and paying a decent amount each month, like passing all your expenses through the card and then paying off your balance and the increases should come. My first increase went from 3500 to 8000 and the second three months after that to 17000. DO NOT FALL INTO A DEBT TRAP AND DO NOT USE IT LIKE A LOAN. ONLY SPEND WHAT YOU CAN COVER WITHIN THE CYCLE. This is very important.

the banks does give you just enough rope to hang yourself

People who can’t control finances hang themselves. The banking system is a useful tool for most normal working folks who use it to uplift themselves whether it’s a car or house. Not gonna say the banks blameless eh, them fawkers do some serious predatory lending too.

Predatory lending is the name of the game, there is no legislation for such so they exploit it to the fullest, Island finance is the worst , dealing with them is similar to selling your soul to the devil. The ppl who do business with these institutions have little to no financial management skills

I know someone who borrow a loan from island finance to buy a Nissan np 300..
Guy said he knows what he's doing.

Lmao the money he borrowed from them he could have bought two vans when they done with him. If he says he knows what he doing leave him.

[AlphaMan]

If you don't have the equivalent of 1000 USD just knocking around in a bank account, you're not the sort of person they would want to give a credit card to. Back in the day I had to secure my first credit card with a deposit of 500 USD, but they probably don't go that low now. If you don't have 7000 TTD that you can just let sit and chill in an Abercrombie, then unless you are independently wealthy, have a well paying job or a government job, it's hard luck for you. If you get your foot in the door, then it's only a simple matter of spending and paying a decent amount each month, like passing all your expenses through the card and then paying off your balance and the increases should come. My first increase went from 3500 to 8000 and the second three months after that to 17000. DO NOT FALL INTO A DEBT TRAP AND DO NOT USE IT LIKE A LOAN. ONLY SPEND WHAT YOU CAN COVER WITHIN THE CYCLE. This is very important.

the banks does give you just enough rope to hang yourself

People who can’t control finances hang themselves. The banking system is a useful tool for most normal working folks who use it to uplift themselves whether it’s a car or house. Not gonna say the banks blameless eh, them fawkers do some serious predatory lending too.

Predatory lending is the name of the game, there is no legislation for such so they exploit it to the fullest, Island finance is the worst , dealing with them is similar to selling your soul to the devil. The ppl who do business with these institutions have little to no financial management skills

I know someone who borrow a loan from island finance to buy a Nissan np 300..
Guy said he knows what he's doing.

Lmao the money he borrowed from them he could have bought two vans when they done with him. If he says he knows what he doing leave him.

I left him and the conversation right there.

[The_Honourable]

On one of them cheds about loans, island finance was 29-30% interest per annum.

Trinis signing up normal not understanding what that means and ignoring fine print.

[hover11]

On one of them cheds about loans, island finance was 29-30% interest per annum.

Trinis signing up normal not understanding what that means and ignoring fine print.

So you mean trinis out here can't do simple maths to calculate how much they sinking themselves, na boi we reach.

[adnj]

On one of them cheds about loans, island finance was 29-30% interest per annum.

Trinis signing up normal not understanding what that means and ignoring fine print.

For anyone that is carrying a balance on a credit card, Island Finance is about par. Most of the charge cards offered in Trinidad have an effective annual interest rate near or above 30%. Add an additional 3.2% if there was a cash advance.

[The_Honourable]

On one of them cheds about loans, island finance was 29-30% interest per annum.

Trinis signing up normal not understanding what that means and ignoring fine print.

So you mean trinis out here can't do simple maths to calculate how much they sinking themselves, na boi we reach.

To be fair, it happens all over the world (ah sounding like a pnm)

Found the table, island finance was the highest while eastern credit union was the lowest. Take in the article: https://trinituner.com/v4//forums/viewt ... #p10374276

[Chimera]

The owner of island finance

[pugboy]

you have to understand how they think of it from a risk point of view
they put you in a position of full $20k collateral and assume that you would eventually be at least be able to have the means to pay $40k plus what ever interest
so their risk is only on the $40k

Went to FCB to borrow money to build an apartment below my house they said ok, they will lend me 60 to build, but they will keep 20 in a fixed deposit

I said, "How will I finish the apartment and rent it out to pay back the loan if you keep 20?"

That, to me, is predatory behavior.

I ended up getting a home equity loan from TTMF with the full amount in my account and roughly the same installment

They tried that with me also during the "more the merrier" promotion two years ago. Wanted 80k borrow for renovations, they said no problem, all my docs in order, to tell me i am "approved" but you can only get 68k cash, 2k or so would go to fees and they keep 10k in an account to "build up my savings"

[hover11]

Isn't the loan usually insured though, the bank or financial institution never really loses.

you have to understand how they think of it from a risk point of view
they put you in a position of full $20k collateral and assume that you would eventually be at least be able to have the means to pay $40k plus what ever interest
so their risk is only on the $40k

Went to FCB to borrow money to build an apartment below my house they said ok, they will lend me 60 to build, but they will keep 20 in a fixed deposit

I said, "How will I finish the apartment and rent it out to pay back the loan if you keep 20?"

That, to me, is predatory behavior.

I ended up getting a home equity loan from TTMF with the full amount in my account and roughly the same installment

They tried that with me also during the "more the merrier" promotion two years ago. Wanted 80k borrow for renovations, they said no problem, all my docs in order, to tell me i am "approved" but you can only get 68k cash, 2k or so would go to fees and they keep 10k in an account to "build up my savings"

[AlphaMan]

The owner of island finance

Screenshot_20240922_214932_Chrome.jpg

Who is/are the owners of island fine ants?

[goalpost]

Ent once you pay minimum payment, no interest? Idk eh.

I use my CC for large purchases e.g. trips, hotels, groceries. I recently decided to use it for a downpayment on a new vehicle (I have the cash, wanted the points), and followed that up with plane tickets and hotel to Panama for Christmas (don't have all the cash, but will soon enough) , so I probably down by about 50k in cc debt. Will pay it off before the end of the year, but still, I've done this many times, and then pay it down. I do not use CC for anything else really.

[triniterribletim]

Ent once you pay minimum payment, no interest? Idk eh.

I use my CC for large purchases e.g. trips, hotels, groceries. I recently decided to use it for a downpayment on a new vehicle (I have the cash, wanted the points), and followed that up with plane tickets and hotel to Panama for Christmas (don't have all the cash, but will soon enough) , so I probably down by about 50k in cc debt. Will pay it off before the end of the year, but still, I've done this many times, and then pay it down. I do not use CC for anything else really.

No, making the minimum payment is just kicking the can down the road, you just avoid fees and and charges, but you pay interest on the balance, which accrues monthly. The first month with an open balance of 50K TTD, you suddenly have to pay 51K next month. Then that will compound. (FCB Rate of 2% monthly, other banks have higher rates).

[adnj]

Ent once you pay minimum payment, no interest? Idk eh.

I use my CC for large purchases e.g. trips, hotels, groceries. I recently decided to use it for a downpayment on a new vehicle (I have the cash, wanted the points), and followed that up with plane tickets and hotel to Panama for Christmas (don't have all the cash, but will soon enough) , so I probably down by about 50k in cc debt. Will pay it off before the end of the year, but still, I've done this many times, and then pay it down. I do not use CC for anything else really.

Let's assume that you are just kidding and not incredibly stupid.

So, for those that still don't know:
There's a line that says something like, "Interest Charged" on every credit card statement that gets printed.
Interest is avoided only by paying the statement balance in full by the due date that is printed on the statement.
Rebate points earned are nearly always less than the interest accrued in one month.

But if you are incredibly stupid, you have found many kindred spirits on this forum.

[pugboy]

it’s compounded monthly or daily?