[j r]

(03-05-2013 09:32 PM)MikeCF Wrote:  

(03-05-2013 09:22 PM)j r Wrote:  

Right. And everyone on reality TV flashing a black card and claiming to be a billionaire is being absolutely honest. There are no people in this world living outside of their means. Everyone is exactly who they say they are.

Those are all nice thoughts I, but I guess I'm just a cynic.

Your'e not a cynic. You're just uninformed.

Please dude, put your dick away. You don't know anything about me. And this ain't a pissing contest.

[thegmanifesto]

(03-05-2013 09:32 PM)MikeCF Wrote:  

(03-05-2013 09:22 PM)j r Wrote:  

Right. And everyone on reality TV flashing a black card and claiming to be a billionaire is being absolutely honest. There are no people in this world living outside of their means. Everyone is exactly who they say they are.

Those are all nice thoughts I, but I guess I'm just a cynic.

Your'e not a cynic. You're just uninformed.

To get a black card you need to spend 250K a year with Amex. That doesn't mean you run a credit card bill, as Amex requires you to pay your statement.

So at the very least a guy is able to run 250K (and pay it back with cash money) on a card. That's on top of housing, cars, and other stuff you can't put on a card. How much cash does a guy need to earn a year to do that? Quite a lot.

You also have to be "invited" by Amex and Amex does an verification and full credit history.

If someone has a black card, it is highly unlikely that they are a job loss away from poverty.

Again, I know what you're doing. You don't want to believe that his life is so much better than yours.

I don't know those geeks and dont' care whether they live or die.

I just think the sentiment here sometimes gets a little negative and hatery.

Far too much attention is spent trying to shit-talk "chumps" rather than finding out how to get our own hustle on.

Everyone I know with a Black Card (my best friend has one), is on pretty damn strong financial footing.

That being said, I could qualify for one (if one of the people I do biz with accepted credit cards) and I wouldn't say I am on super strong financial footing.

So I could see it going both ways (so to speak).

[bacon]

i had a friend who worked for amex. anyway the black card thing is more about marketing status. you can definately apply for one just be willing to pay the 7k or so in yearly fees. many people use the card for their business since it does include various benefits and the status attachment. so while its possible a person only uses the black card on clothes and vacation trips its also and many times more probable that person is using the card for his business.

[MikeCF]

(03-06-2013 01:08 AM)bacon Wrote:  

i had a friend who worked for amex. anyway the black card thing is more about marketing status. you can definately apply for one just be willing to pay the 7k or so in yearly fees. many people use the card for their business since it does include various benefits and the status attachment. so while its possible a person only uses the black card on clothes and vacation trips its also and many times more probable that person is using the card for his business.

That means your business, if you paid everything on the card, when all is said and done, has 250K in cash to pay the balance. And that's just the minimum spend requirement and has nothing to do with creditworthiness.

Maybe you guys are just much bigger ballers than I am. After all, I'm happy to play the miles/points game by getting 50,000 sign on miles, ala "Million Mile Secrets." (Though I could have a friend put me on his for the $2,500 annual fee.)

In my view, if your business is running 250K on the card alone, I'd say you have a pretty good business. Keep in mind that you can't put rent - which is huge for a lot of businesses - on a card. So if you're putting 250K on the card your revenues are much higher.

If you have a black card, a mansion, cars, and shoes worth 250K plus, I'm not going to question your net worth. Odds are you are doing "OK."

That doesn't mean the lifestyle is sustainable. It does mean you are currently making enough to live it.

Mike Tyson burned through 200 million. But at his height of fame anyone who said he was "fronting" would have been wrong.

Now if you wanna say those people would not be able to sustain that lifestyle if, say, the guy got hit by a truck and was disabled...,you might have a point.

But those people on the show - as much as we are inclined to have a visceral reaction of hatred for them - are earning more in a year than the vast majority of us combined.

[Hannibal]

They've got their money figured out and they don't seem to care much if their wife runs their lives.

I guess it's like the high level poker players who don't give a shit if they win or lose because they know the odds and they're confident in their abilities.

I don't envy the shit they put up with from their women, but they still have more money than I can comprehend.

[Merenguero]

I have two words for you guys: Lenny Dykstra. I'm sure some of you know his story. For those of you who don't, I strongly suggest you Google him and/or watch the YouTube videos which depict his downfall. After you do that, it should be abundantly clear that not everyone who "owns" mansions and numerous high-end luxury cars and who buys things with a "black card" is extremely successful. The obvious truth is that some of those people are successful and some are not.

As a side note, I met "Lenny" at what was then Trump Castle when I was thirteen. "Lenny" didn't have much time for me then.