Thanks Credit Card Companies

[BUDMAN]

Just got a letter today from one of my credit card companies(have two)
that they are doubling my interest rate to 24% on new purchases.

This is great for me because now I have the incentive to pay it off and tell them what to do with their interest rate.


Thanks credit cards for the memories I won't be using you anymore.

See how much money you get from that.

anybody feel the same?

[nrembis]

atleast now they have to inform you, in the past you would have been in for a rude awakening month or 2 after the purchase

[Defman]

hmmm... they generally don't do that for no reason....

[scubastud]

Yes we were like 4 days late on a payment (we were in Carribean) and they raised rate.
Called and got it changed back, but that's how they get ya!

[BUDMAN]

credit rate top 3%

Never a late payment

$19,000 credit limit

22 years same employer

defman you're not keeping up with what's happening in the credit card industry.

but like I said it's going to work out for the best in the long run

[moosicman]

We just paid off all are credit card debt. 12 large. We are FREE AND CLEAR and it feels great! I relish telling them to shove their plastic up their rear ends!!

[tfd86]

They are all jacking them up now regardless of credit history . Just in time to beat the new regulations imposed by he goverment to protect the consumer. My best idea was to pay them off and protect myself.

[in_cavediver]

I love them. I hate carrying cash and they are convienent to have.

That said - we never have carried a balance so they haven't gotten a dime from me. (well, I pay my bills of course but no fees or interest)

[IndyDiver]

Originally Posted by in_cavediver

I love them. I hate carrying cash and they are convienent to have.

That said - we never have carried a balance so they haven't gotten a dime from me. (well, I pay my bills of course but no fees or interest)

That may end soon. Bank of America and Chase are both testing consumer response to adding annual fees to accounts that do not carry a balance. Bank of America is also testing the idea of an inactivity fee for accounts that have no charges within a 12 month period.

[rednose83]

Yup they are increasing rates and lowering credit limits. It's happened on 2 of my cards and we don't even carry a balance!