BabyBear
Keep wise ...with Night-Owl
join:2007-01-11
1 edit | reply to Airline0wnerFTW
Re: Chase has gone mad. Raised my APR by 3 times
said by Airline0wnerFTW :
And So?!!
I have 6 Major Bank credit cards and 3 Store Branded Credit cards and I DO NOT HAVE any problems with it.
I Don't give a damn even if they put a 50% APR on my cards because I ALWAYS PAY IN FULL AND ON TIME.
Go figure that out smart-pants!
Will you give a dam when they add an avg. of a $50 annual fee? If you don't carry a balance don't be shocked when all your cards decide to no longer give you a 'free' card since you always pay off any balance. Eh!? 'smart-pants'? |
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JeepMatt
Delaware Fios
Premium
join:2001-12-28
Wilmington, DE
 ·Verizon FIOS
| You can all thank the President for this.
The "credit card" bill may sound good on the nightly news - but wait until everyone has a 25% APR despite their credit rating.
You think CC companies are bad? Wait until next year until this "so-called" consumer friendly bill goes into effect.
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"ONE team - ONE city - ONE dream!!" |
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BabyBear
Keep wise ...with Night-Owl
join:2007-01-11
| said by JeepMatt  :You can all thank the President for this. No, I'd 'thank' the greedy credit card companies for it. If all my interest rates shot up and/or all my free cards were changed to annual fee cards, I close 'em all except for 1(my credit union card(non-profit) most likely). I hardly ever carry a balance. Willing to bet avg. interest rate paid each year for me is probably less than $10 for all my cards put together. |
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axus
join:2001-06-18
Washington, DC
 ·Verizon Online DSL
| reply to Gemologist
said by Gemologist :Exactly! In today's day and age one HAS to have a credit card, period, no ifs, ands, or butts. Most online shopping places ONLY accept credit cards, traveling.. every Hotel requires a credit card on file for payment/damages/security/etc., rent a car... truck...uHaul... CC required, rent just about anything and a CC is required, no way one can live without a credit card unless they order nothing online, do no traveling requiring staying in a hotel, renting no cars or anything else ever, etc. or a debit card. The only financial argument for using a credit card is to improve your artificial number by having one. |
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joako
Premium
join:2000-09-07
/dev/null
·AT&T U-Verse
| reply to JeepMatt
said by JeepMatt :You can all thank the President for this. The "credit card" bill may sound good on the nightly news - but wait until everyone has a 25% APR despite their credit rating. You think CC companies are bad? Wait until next year until this "so-called" consumer friendly bill goes into effect. I didn't know the President wrote the bill and that it also mandates that interest rates be increased.
Furthermore I don't know how the credit card companies expect to recoup their losses from not being able to gouge some of their customers if their reaction is to make the use of the product less attractive. Or maybe they shouldn't have handed out cards to whomever can fill out an application?
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PRescott7-2097 |
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Thespis
I'm not an actor, but I play one on TV.
Premium
join:2004-08-03
Keller, TX
| reply to axus
said by axus :or a debit card. The only financial argument for using a credit card is to improve your artificial number by having one. Most car rental places will not take a debit card.
I had a debit card and found some unauthorized charges. It took about a week to get my money back. No thanks...
We pay ours off every month, but would have no problem functioning without it. We can cancel and just use cash any time.
I'm a Dave Ramsey fan too Greg_Z but he's not Jesus. Not everything that comes out of his mouth is the gospel... |
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JeepMatt
Delaware Fios
Premium
join:2001-12-28
Wilmington, DE | reply to BabyBear
BabyBear-
Ahhh...you (and others) will learn someday. CC's aren't "greedy" - they are a business.
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"ONE team - ONE city - ONE dream!!" |
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Bobcat
Premium
join:2001-02-04
Bedminster, NJ
·Verizon Online DSL
| reply to JeepMatt
said by JeepMatt :You can all thank the President for this. The "credit card" bill may sound good on the nightly news - but wait until everyone has a 25% APR despite their credit rating. You think CC companies are bad? Wait until next year until this "so-called" consumer friendly bill goes into effect.  |
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BabyBear
Keep wise ...with Night-Owl
join:2007-01-11
| reply to JeepMatt
said by JeepMatt :Ahhh...you (and others) will learn someday. CC's aren't "greedy" - they are a business. Yeahhhh right.
Secret History of the Credit Card |
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Greg_Z
Premium
join:2001-08-08
Springfield, IL | reply to TearAbite
It is now a bad thing to have a CC. |
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cableties
Premium
join:2005-01-27
·Verizon FIOS
| reply to dvd536
I'm in total anger mode here.
I got the same with Capital One on two visas (One is business card with low credit but balance forward, and other is a card I paid off but TOLD by Capital One NOT to close but leave open...no balance...supposed to mkae credit score look good...wtf!).
I called trying to reach a supervisor but got run around. Either give me introductory rate, or I'm going to be one of those "dolts" or "deadbeats" and effem. I don't care about some credit score when I have a great mortgage and no car payment needs. I understand that if I don't pay for 3 months, I get bumped to their collection group where I can negotiate a payoff ONE THIRD what I owe. I can keep letters of this ordeal and when time comes that my credit does affect some home borrowing, I can argue that the banks unfairly raised my interest without due process... (I can blame the economy just like everyone else).
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Greg_Z
Premium
join:2001-08-08
Springfield, IL | reply to Thespis
Suze Orman states the same thing. Dump the debt, and do not depend on CC. Also, forget about that artificial number, because all it does it bloats egos.
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I threw out the map a long time ago. Now I follow my own direction! |
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TurtleFan
join:2003-05-03
Wyckoff, NJ
| reply to Greg_Z
I went with Wamu BECAUSE I didn't need a minimum amount in my account. Why should they care if I have no money in it....Isn't it all virtual anyway? It's not like they have a lock box somewhere with my money in it in one bank.
I absolutely refuse to get a credit card...it's just one big scam to get you to pay more, even if you use it wisely. Debit works just fine for me. Buying only when you have the money to buy... |
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koam
Pink Pecker
Premium
join:2000-08-16
East Puddle
clubs: | reply to damn
if you have so much experience with credit cards, why then didn't you pay your minimum payment well ahead of time every month as you agreed to? the minimum payment is normally very low and the easiest way to prevent rate increases. |
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Bananas
Premium
join:2004-08-18
Santa Barbara, CA
| reply to damn
Use a prepaid credit/debit, I have a Greendot with the premier account(wooohoo) and I use it both ways. They charge 7 bucks a month, plus every time you reload is 5 bucks. 2500 dollar limit, but it works for every purchase online. FICO score....what's that lol
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I want to die peacefully in my sleep like my grandfather, not like the other people in his car who were screaming. |
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moonpuppy
join:2000-08-21
Glen Burnie, MD
·Verizon Online DSL
| reply to JeepMatt
said by JeepMatt :You can all thank the President for this. The "credit card" bill may sound good on the nightly news - but wait until everyone has a 25% APR despite their credit rating. You think CC companies are bad? Wait until next year until this "so-called" consumer friendly bill goes into effect. ORLY?
There is a regional grocery store chain (Giant Foods) that at one time had a rewards program credit card through either Citibank or Chase. You got bonus points to use at Giant supermarkets based on your purchases. After 18 months, the cards were cancelled and the program discontinued. Why? Because most of the people using these cards never held a balance. The card companies were not making enough money off the transaction fees to pay off the rewards they were giving.
Look at the airline miles programs. More blackout dates and destinations you can't go to. Why? Too many people racking up the miles and they can't afford to use them.
Face it, the credit card companies brought this on themselves. Why give cards to teenagers in high school? What happened to verification of income?
Sure, they can raise rates to 25%. What happens when no one uses them? Those rates will come down. Annual fees? Card gets cancelled and tossed. |
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kcazzie
One Of Jerry's Kids
Premium
join:2000-08-13
Morton Grove, IL
·AT&T Midwest
1 edit | reply to damn
AMEX is no better... In fact I think they are all the same... I've been AMEX Gold card holder for years and AMEX CostCo card holder ... About five months ago I received a letter from AMEX that they are lowering my CostCo card from 22k to 10k for a reason that made no sense... In fact they me feel like I was a low life... I had no balance and use the card a lot... Like I said this made no sense so I went to checkout what others were saying on the PC... And I wasn't only one, looks like right when this recession started they were lowering everyone's balance which is fine with me but the way they went about doing it was just terrible... I wish I could fine the site...I can't put into words what stuff they did to their customers... Ppl had their cards balances cut and were not told and went to make purchases and you guessed it they were declined...
Here's one site I found but it's nowhere as bad as the one I found months ago...
»www.badcreditcards.org/American%···ress.htm
Edit- This what I'm talking about; mine was somewhat like this... I made a major buy and then paid it off within two months and then they cut my balance ... The funny thing is, they were the ones that kept upping it...!!!...
Dino (from »www.badcreditcards.org/American%···ress.htm)
Complaint_against: AMX
Complaint:
"Watch your credit limit. AMX will change your limit. If you are carring a balance and make a big payment. AMX may drop your limit without notification. It happened to me I have had the card for 6 years never missed a payment and alway paid the entire balance or very close every year. I did the same this year and they droped my limit from $4500 to $800.00. Which got my attention. So I immedatly ordered my credit report from Experian they very same company they use to check this out to see if this was Identity theft and I verified this is the same information that everyone sees when they review a credit report. I my score was 769 and I found no discrepancys or public records. So I called AMX and it took 8 hours and 15 calls no one would give me any straight anwsers. Heres is what they told me. 1. You have a high debit to credit ratio or I descrepacy and public record with experian and that is why we lowered your credit. Which is Bullshit. Keep in mind I have the same report t!
hey have in front of me, so I asked what is the public record. They said they don't know and call Experian. I called Experian and they said my credit is fine and the do not have anything on public record. The CS rep at experian was very cool she told me that AMX is lowering credit limits on people who carry a balance , because they are afraid that you won't pay the balance and screw them out of their money. Amx is making bogus excuses to the card holders to cover there losses from bad investments junk bonds, and bad mortgages that defaulted. So they are shoreing up credit on the cardholdser, so the outstanding debt does not look so bad on there records. The funny part was I canceled the card paid in full and went to visa and had them reviewed my credit and also asked them about any issues or public records. They said your records and credit is almost perfect and they were using the same report AMX has. AMX lied to me and will lie to you. VISA gave me a $15,000 limit. AMX is !
having finacials issue of there own and are punishing the good and loyal cardholders for their Mistakes. Beware if you carry a balance. I will never have another AMX card as long as I live." |
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avd706
insert annoying animated gif here
Premium
join:2003-02-06
Union, NJ
| reply to koam
said by koam :if you have so much experience with credit cards, why then didn't you pay your minimum payment well ahead of time every month as you agreed to? the minimum payment is normally very low and the easiest way to prevent rate increases. The anger is because this isn't happening anymore. The banks have broken the social contract. You pay and all is good. Now everyone is getting fucked and why? Because they can. That's all this is. It is a business now, and the model is to squeeze as much as they can from you. |
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koam
Pink Pecker
Premium
join:2000-08-16
East Puddle
clubs: | Please identify one sentence of your reply that makes sense. Thanks. |
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jjoshua
Premium
join:2001-06-01
Scotch Plains, NJ
·Verizon FIOS
 ·Comcast
| reply to damn
Everyone was bitching for credit card reforms and now you're going to get it.
The banks are going to raise rates on everyone to offset the lost fees that they used to charge their riskier customers.
When you ask the government to regulate, you get what you ask for - along with the consequences.
YES WE CAN! |
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