Chase is Bush League

July 9, 2009

So I am pissed off at Chase, we are having a bit of a disagreement.  

  Here is my message to Chase:  

 

I was setting up direct deposit to make my credit card payment and I omitted a digit. I corrected the situation right away and sent you the money again with the correct banking information. Please remove the fee due to a simple typo.

 Thank you

 -JonBon

 

Chase Response:

 Dear Jon,

 

My name is Diana, we understand your concerns regarding the return check fee on your account.

 A returned check fee is charged whenever your bank does not honor the check that you gave us to pay on your account. This can occur for a number of reasons. Please contact your bank for details regarding your check.

 This fee was assessed to your account because your payment was returned to us unpaid by your financial institution. It is a valid fee and will remain on your account.

 Thank you,

Diana

 

JonBon’s Rebuttal:

 Diana

Like I said before I made a typo and entered the wrong number for my account number or routing number. Of course the payment was not honored by the bank, it was not my account. I was attempting to make payments electronically which I am sure for Chase is less expensive then processing a paper check every month. I realize that it is a valid charge, but I think it is unreasonable to charge $39 for a typeo. Please remove the charge.

-JonBon

 

Chase Response:

 Dear Jon,

 Thank you for providing me with the opportunity to assist you today, regarding the returned payment fee.

 We previously reviewed your account and explained why we could not make the adjustment you requested. Even though you have informed us that this was a typo, the typo was not a bank error. We regret that we are unable to take further action regarding the returned payment fee reflected on your current activity.

 At this point I realize they are not going to be nice, and that I am going to have to be a little more forceful.

 

So I contacted the BBB, BRING IT ON CHASE!

 

Mrs. Newton

 I am sorry to hear that you are unwilling to fulfill my request to refund the unreasonable charges. You have left me no choice but to file a complaint with the Better Business Bureau. The complaint number is 83**** and has been filed to the BBB of Metropolitan New York.

 Thank you for your time.

 Respectfully

 

-JonBon

 

More to come kids!!

Leave a Comment » | Credit, Liabilities | Permalink
Posted by fubar1383

Five Pointless Cars

June 26, 2009

          Here are the five cars that I find most useless and overpriced. Now I am sure they have their fans, and in some situations are pretty handy to have around, but in my everyday experiences I think for most people to own one is a waste of money.

 

5. Hummer

MPG:13/16 Price: $50,000 Passengers: A bakers dozen

 

            Too big! I like the idea, and the styling but it is just not utilized by 99% of people out there. Like most of the cars on this list it’s a “statement” vehicle. You want people to look at you and know you’re big, bad, and powerful. Plus it goes with your extensive collection of UFC graphic T’s.

 

4. Smart!

MPG: 33/41 Price: $15,000 Passengers: 1.5?

 smart

            Too Small! How is this car practical for anything? I would rather buy a scooter for 1/4 the price with probably better acceleration. Not to mention that I have heard horrible things about its actual fuel economy, transmission, and ability to merge into the interstate. The smart boast the slowest 0-60 MPH time of any car in production today.

 

 

3. Tesla Roadsters

MPG: Unlimited Price: $100,000 Passengers:2

 tesla

            This car is pretty slick; it is essentially a super car in the electric version. The problem is that it has no trunk and no range. Sure it’s fast, but other then taking it out on Saturday nights it has no functionality. I mean they get points for trying something new, but the only people that want to buy it seam to be the activist Hollywood types. This car gets bonus points on this list because the founders have made a habit of lobbing lawsuits at each other.

 

 

2. Cadillac Escalade Hybrid

 MPG 20/21 Price $70,000 Passengers: 8

 

            It’s like putting lipstick on a pig…. I don’t even know why they made the hybrid version of this. The original Escalade is pretty expensive, but very nice and a lot of people like that even if it is just a “smaller” nicer hummer. Spending another 10k for  a measly 5 MPG improvement is pretty pointless.

 

 

1. Jeep Wrangler

 MPG 15/19 Price $22.000 Passengers: 3

 jeep

            “It’s a jeep thing, you wouldn’t understand” Understand what? Your horrible gas mileage in your tiny car that is good for rolling over and does not have a real roof!? I guess then maybe I don’t. Yes jeeps are great for off-roading. As we have learned from the 100 million SUV’s on the road with four wheel drive no one goes off-roading! So basically your buying a car whose primary purpose is to drive on unpaved roads, and yet you will spend 99% of your time on paved roads where your car is out of its element. But oh yeah you drive a Jeep, so you get to wave at other jeeps as the drive by, lucky you….

1 Comment | Cars | Permalink
Posted by fubar1383

The Poor House

June 16, 2009

 

the poor house

 

Population: JonBon

 

 

            I used to be rich, I used to be the guy with money. I used to be the person who took vacations and maxed out their Roth IRA.  I used to live in a vault like Scrouge McDuck and swim around in all my money.

 

But I moved.

 

I moved into the poor house, with most of my fellow Americans. Now you have to understand my definition of poor, and an economists definition of poor are very different. My net worth is still probably very high for my age, and technically I am doing great. I am just way less liquid then I used to be.

 

            I have accumulated a crazy about of debt in the past 3 months or so. Now most of this is good debt, but its still debt, and I hate debt!!

 

            House:

better shack

 I purchased a home with 10% down. So I have six figures of mortgage debt that I now have to pay back for 30 years at 5.45 percent.  It is a huge adjustment to have tens of thousands sitting in the bank, to tens of thousands sitting in a house. It makes the dollars a little harder to get too. I will get the $8,000 first time home buyers credit, and I will get a place to live, but it’s still hard to go from owing money to no one, to owing the bank well over $100,000! The reason that this debt is good, is becuase it went to purchase an asset that in theory can be sold for more then I paid.

 

            Appliances:

fridge

I spent around two grand on some pretty solid stainless steel appliances. I am happy with what I have; they look nice, and work well. These I financed over a year with 0% interest. I did this before with my enormous TV. It’s a way to keep your cash, and pay for them over time. Just a warning, do not miss a single payment, and never be late. The banks that make these uncollateralized loans (GE Money) are not very nice people. The 0% you get it just a teaser, most people do not pay them off in time, and get hit with huge penalties and interest.

 

            Jewelry:

quartz

I recently got engaged and financed an expensive diamond, as well as purchased a ring to put it in. I probably spent a lot more then I needed too, and got a diamond that is of much higher quality then most. She would have been happier with less, but its what I wanted her to have. I financed the ring with a zero percent interest for 12 months Chase credit card. Again a warning to you, this is a really stupid way to buy things unless you know that you can make the payments.

2 Comments | Assets, Liabilities, Real Estate | Permalink
Posted by fubar1383

GOOOOOOOOOAL!!!!!

May 13, 2009

 

 

180px-Soccer_goalkeeper

 

No, not that kind.

 

            Today is in fact my birthday, I am turning 26. I thought I would take some time to reflect on my financial and professional ambitions. These are a few goals that I wrote up right after college at the start of my career.  

 

 

 

Goals

September 2006

 

Short Term Goals

  • Get my 510 accountant certification  01/2008
  • Apply to Grad School 12/2008
  • Get a governmental professional certification
  • Purchase a Home 4/2009

OR

  • Have 10,000 invested  1/2008
  • Get a 550 on the GMAT  12/2008
  • Set up a Roth IRA     10/2007

 

 

 

Long Term Goals

  • Earn my MBA     ETC 06/2011?
  • Pay off my Home 15 years after I purchase it.     04/2024??
  • Earn $100,000 in 1 year
  • Start my own business
  • Run a marathon
  • Be able to speak in Spanish

 

 

Eye On the Prize

  • Get a truck
  • Get a boat
  • Buy a pool table.

 

 

            So I think I am doing pretty well, I guess I need to set some new short term goals and keep working towards my long term ones. As for the “Eye on the Prize” goals those things would be great, but clearly are just toys, and not assets. They might make me a little happier, but would not help me achieve my long term goals.

1 Comment | About Me, Assets, Career | Permalink
Posted by fubar1383

It’s Not The Money!

May 12, 2009

It’s the Principal!

 

 

 

            Lately I have been running into a few situations where I feel like I have been misled, ripped off, or stole from. None of these situations were enough money for me to get very excited about but it still jerks my chain.

 234px-GiantEagleStowOhio

Giant Eagle: If you don’t know it’s a grocery chain, it usually has stores in great locations, with not so great prices. Because of the convenience I do tend to go there when I need odds and ends. GE is HORRIBLE about labeling the price of their products. Recently I went in to buy some steaks for dinner. They were on a BOGO (buy one get one free) so I picked up two and headed out. The steaks were right next two each other, looked the same, packaged the same, and weighed the same. But of course they were different. So instead of buying one for 8 bucks and getting one for free, I paid $16 for two steaks. This has happened on several occasions with different items rang up at different prices. The problem with me is that I am usually in hurry and it is not worth it for me to make a big deal about it.

 

Work Café: I have been buying my lunch more because I have been buying less food to eat at home because it tends to go bad before I can eat it. The other day I paid with a credit card. The cashier rang up my mountain dew and pizza (healthy!!) and swiped my card twice. Sometimes credit cards don’t get read by the machine the first time it happens, but I kept my receipt just the same and I never keep receipts.  Sure enough on my bank statement there were a charge for 0.67 and a charge for 5.67. So I would chalk this one up to human error, but it is still annoying!

 

Huntington bank: I had a back up back up emergency fund with them. Essentially I was keeping that money segregated from the rest of my funds to use a part of a down payment. Well I bought a house and needed the cash for the down payment. I went to a branch to try and close my account. The teller could not do it, so I had to go to one of their “banking specialist” The tellers were all doing nothing, but the banking specialist had multiple people waiting on him. I was on my lunch, so rather then wait around and be late back to work, I just withdrew almost all the funds.

            A week later I get a call from someone at a branch telling me the funds are low, and to avoid fees I need to convert to a checking account. I don’t want a checking account; I want to close the account. She of course could not help me so rather then paying fees I told her to convert to checking with the intention of closing the account in the near future. About a week later I get a huge packet of docs in the mail, and checks. I did not want checks, but I figure who cares.

            A week after that I go to yet another branch to attempt to close my account. Yet another teller informs me I have to speak to a banking specialist. When I go to close the account low and behold they have charged my account for checks. I told her that was unacceptable and to refund the money for the checks that I did not order. As it turns out she “might” be able to get my $15 back, but I could then not close the account that day. Well I just took my money and left, I don’t like the way that Huntington operates, and I think I will have to write their customer service a letter letting them know that.

 

Should I be making a bigger deal out of these relatively minor disputes?

Leave a Comment » | Banking, Ramblings | Permalink
Posted by fubar1383

The American Car Company…..

May 1, 2009

 

ugly-car2

 

Coming soon, the American Eagle: Produced in the United States of America, by the United States of America.

 

Features:

Eco friendly wooden steering wheel

Top Speed of 42 MPH

Achieves 9 Miles per gallon on the highway*

Explodes on impact with other cars

 

Cost: $1,700,000.00

 

 

*You can increase your MPG by sticking your foot through the “easy collapse” floor and pushing along Fred Flintstone style.

 

            Ok so this might not actually happen, but I feel like we are getting close. The U.S. Government for all intensive purposes has take over Chrysler who has been forced to file for bankruptcy. The Federal Government is backing Chrysler’s lifetime warranties in addition to the billions in loans it has already made.

            Governments are notoriously bad at producing or managing just about anything. So my hope is that with Chrysler (and probably GM) we just let “nature take its course” the company’s will survive, die, or come back minus their unprofitable parts.

            These days we like to assign blame for just about everything, so I will do my best to uphold the Status Quo.  

            Who to blame for Chrysler’s Bankruptcy:

            1. Chrysler’s Management, can they even build a competitive (small) car?

            2. Unions, artificially high wages push costs unacceptable levels.

            3. The Economy, but lets face it recessions happen, Chrysler should have position  themselves to weather the storm.

Comments Off | Cars, Ramblings | Permalink
Posted by fubar1383

Samantha Turns 100,000

April 10, 2009

 

 

250px-2001-2002_mercury_cougar

 

 

      Well I officially drive a “six figure car”. No that does not mean my car costs over $100k, it means that I have over one hundred thousand miles on my 2000 Mercury Cougar, and yes her name is Samantha. I still name my car, deal with it!

            Now it is not the nicest looking car out there, and yeah it has a few problems that show up with age.  But my car only costs me about $40 a month in gas, and $35 a month in insurance. Sure I have to put some money into it every now and then, but it is still loads cheaper then a $350 car payment with pricey insurance.

            I told myself that when my car hits 120k I would allow myself to buy a new one. Well with the purchase of the house, looks like that number is going to be pushed into the 150k range. So until then I will just keep on shifting and hoping that my clutch will make it another two years.

2 Comments | Cars, Expenses, Liabilities | Permalink
Posted by fubar1383

The Hierarchy of Possessions

March 16, 2009

           

300px-yard_sale_northern_ca_2005

             

         

            When I started college the better part of a decade ago all of my possessions that I needed to live on for one year fit into the back of an SUV. Now I would not even think about moving without a twenty foot box truck.

 

            As my income has grown so has my lifestyle, and I have the stuff to prove it! Some of us are a lot worse then others about accumulating possessions. I know people that will keep just about anything because the might need it someday. Recently there are a few things that I have wanted but did not buy them just for the fact that they would be one more thing I would have to move. God forbid how much stuff I will have if I buy a house.

 

            I was thinking about how much value people put on their possessions and I came up with the following equation.

 

Things > Stuff > Junk > Trash

 

“I have a few Things to bring over”

“I have to move my Stuff in”

“What should I do with this Junk”

“It’s just some Trash”

 

            So when you do your spring cleaning (if you don’t you should!) take a look at some of you possessions and ask yourself is it a Thing, your stuff, some junk, or just trash. If it is one of the last two seriously consider throwing it away, having a garage sale or donating it to your local goodwill store.

Leave a Comment » | Ramblings | Permalink
Posted by fubar1383

Happy Birthday!

March 12, 2009

180px-birthday_candles2

 

            It is JonBon’s Money birthday. Ok so maybe I am a few days late, it’s a website so it wont be offended that I am a little belated

 

            Looking back it has been one heck of a year for my money, and I am sure your money as well. If you owned stocks a year ago, they were probably trading at about double of what they are now, you still had a realistic shot at selling your house, and you did not know who Bernie Madoff was.

 

 

            Now of course things are very different.  We are experience one of the worst recessions since WWII. One thing to remember what goes down, must come up.

 

            If you’re willing to accept a little risk, and don’t need the cash for at least a few years it has to be the perfect time to invest in stocks. Buy low sell high right? Well everything is half off! It’s a buy one get one free sale at the New York Stock Exchange! If you could get a $1000 TV for 500 bucks would you buy it? I would.

1 Comment | Ramblings | Permalink
Posted by fubar1383

What Does a Realtor Really Do?

March 3, 2009

Honestly, what do they do?

 

            For years buyers and sellers have relied heavily on realtors to move real estate.  No one tried the infamous FSBO it was usually viewed as the Hail Mary pass of selling a property. Realtors provided advice, guidance, and were just a good sounding board for nervous and inexperienced buyers.  In return for all this legwork, handholding, and research realtors took a hefty sum of 6% of the purchase price. Often this was split with the Sellers realtor as well.

 

            My personal favorite thing about real estate agents is the silly photo that every single one of them has. They are so similar they all must use the same photographer. I don’t know how they all look alike! The picture looks like the cross between their senior picture and a glamour shot.

 

            Well then this small little invention came along: The Internet.  I don’t know if you have heard of it, it involves signing onto this thing called AOL, and then getting  a busy signal about 43 times then on the 44th time you can go to chat rooms, and send funny emails.  

 

            So I am buying my house without a realtor. I found it on my own, I researched it on my own, and I made the offer on my own. I will be closing soon.

 

            One of two things is going to happen: 1 I will buy this house without a realtor, save a bucket of money, and consider myself a genesis, OR Screw up the closing royally and consider myself a huge dumbass.

 

Time will tell.

3 Comments | Real Estate, Uncategorized | Permalink
Posted by fubar1383

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