Monday, January 09, 2006

What a nice day

Aside from normal anxiety about getting up at 5:00 this morning (I've been up since ten after four) deliveries went very smoothly. Today's high was in the 50's and aside from being sent on something of a fool's errand as a favor to my boss, all was well. Instead of going home, eating a huge meal and passing out for a couple of hours, I got a lot of stuff done. Laura and I are still looking for a venue for our wedding and nothing can go forward until after we find a place. The current ticket is to have it done at Galapagos Arts Space on North 6th in Williamsburg. A few months ago, before we were engaged, Laura told me about a friend of her's that didn't have very much money and had the wedding at Galapagos. At the time it seemed to us the epitomy of young bohemism but with the budget we have and now faced with the reality of the costs, it's looking mighty good. This is not to say that it's cheap by a long shot, no sir. I can see why there's such a huge industry around this.

In other news I'm in the process of trying to get some kind of credit card. In the first few weeks of my freshman year of college, I got more offers to get a credit card than to buy weed in Washington Square park. I figured that to get a credit card was to play with fire and over the years I've had lots of friends who have gotten burned. Now, at the ripe old age of 27, credit card companies just aren't interested in extending a line of credit to someone who has kept up with his own finances makes a living wage and has never saddled himself with credit card debt. I understand the business logic behind it, but it's still a little screwy to me. I don't even want a credit card really, I just want one to raise my credit rating, get a business loan and then eventually have come kind of line of credit for my business expenses. As it stands now, it looks like I'll have to get a "secured credit card" which means I give them money, they hold onto it and my monthly limit is the amount of money that I have given them. If I default, the keep they money that I've given them and I'm back to the drawing board.

Does anyone know of a better way of getting a credit card, business loan or have $200,000 that I could hold onto for the next half decade?


Tresler said...

Well... I realize that I might not be the most trustworthy source where this area is concerned, however, as of about two years ago the Small Business Association here in New York was chomping at the bit to give anyone and everyone a small business loan. I would highly recommend checking out their website and requesting their free packet of materials, as well as meeting with one of their small business counselors. They know their shit about obtaining financing for starting a business - business tax breaks that can save you lots of money, and general how-to start up a business with no money.

Other tricks, that I know involving credit cards you might not like. If you are absolutely positive you aren't going to use the card get someone with credit to co-sign. Just call the companyup and say, Hey, can my parents/uncle/good friend co sign. I personally, hate this option as it means if you ever do default your co-signer is screwed.

I expect I'll be able to lend you the $200K by 2025, eh probably june of the year 2025 would be a good estimate.

eefers said...

yeah..lemme just grab my wallet. but really, i do owe you $40, so um, i can put that into a CD or something... or a trust fund! even better!

Alex Stockham said...

Whatever bank you use would probably be more than happy to give you a credit card (Mastercard or Visa) with a small balance. That's how I got my first card.

Tree Trunk Ho Slappa said...

That is absolutly riduclous to me, they should be begging to give you a credit card and pray that you, you untrustworthy freshman in the credit game, fail miserably and end up paying them 27% interest -like me. Shameful

Tree Trunk Ho Slappa said...

Or your parents can cosign for a card and then disown you if you default. Like mine did.