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TOPIC:   credit card issues 


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STEELVIC
Posts: 359
12/30/08 11:56 A

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Hmmm....sounds like this financial fiasco is affecting even those who have paid their bills on time. I just received notice that my rate was going up 5%, and I always pay my monthly balance in full--on time.

And we know that all things work together for good to those who love God, to those who are the called according to His purpose. ROM 8:28


WDBROWN94
WDBROWN94's Photo Posts: 2,920
12/29/08 7:49 P

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That is interesting about the credit cards. I had one of my credit card companies send me a letter saying they were closing my account because they were discontinuing the program. I was upset thinking I did something wrong and I knew I hadn't knowing I paid monthly and on time.

I called them and finally got someone in customer service I could understand to explain the letter to me. I then did some investigating and discovered that a lot of people were affected by this abrupt policy.

No one need live a minute longer as he is, because the Creator endowed us with the ability to change ourselves. - J.C. Penney



SAPNA.
SAPNA.'s Photo SparkPoints: (139,076)
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12/28/08 5:13 P

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it is very difficult to get credit at the moment. Especially mortgages. The banks are not lending money very easily. Things are very bad. Big name stores are closing every day. This week 5 or 6 high street store chains have gone bust. Thousands of people will now be out of work for the new year.
Myrna.

"To share often and much--to know even one life has breathed easier because you have lived-- This is to have succeeded."


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MRSFIXIT
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12/28/08 5:02 P

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That's really crappy. How do people build credit without keeping credit card debt? It must be tough because you'd basically be stuck taking out loans.

Donna (Upstate NY)

"Even monkeys fall out of trees."

"Suffering is the tuition one pays for a character degree."

"Accept your diagnosis, but never your prognosis."

home.roadrunner.com/~andydonna


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SAPNA.
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12/28/08 6:01 A

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In England they have started taking away cards from people that dont use them a lot or pay off their balance every month. They only want people to have cards who use them to the limit and have to pay loads of interest.
Myrna.

"To share often and much--to know even one life has breathed easier because you have lived-- This is to have succeeded."


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MRSFIXIT
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12/27/08 11:18 P

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I think the credit card companies are trying to pull a lot of stuff right now. I'm sure it has a lot, if not all, to do with the new laws that may be enacted.

For 1 of our cards, we've never been late, been paying on the balance regularly, & yet we got a notice that our rate will be going up, from 9.99% to 11.99%. On another card, we paid it off because the rate was 26.99%. They wrote to us to say we hadn't used the card, so they raised our limit. I wrote to them to say we wouldn't use it with such a high interest rate, so they lowered it to 7.99%. We're going to do a balance transfer on from the 1st one mentioned to this.

BJ's had an interest rate of 29.99%. This was one of the first cards we paid off, & we haven't used it since because of the rate. We got a letter in the mail last week that they closed our account because we hadn't used the card. I always thought closing a card was a bad thing to do for your credit, due to the available credit to credit used ratio, but I'm thinking maybe all bets are off right now with these new laws trying to be passed.

Be very cautious & check your statements! These companies have always tried to pull some sort of crap, including changing due dates. You really have to stay on top of them.

Donna (Upstate NY)

"Even monkeys fall out of trees."

"Suffering is the tuition one pays for a character degree."

"Accept your diagnosis, but never your prognosis."

home.roadrunner.com/~andydonna


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MISSEYD
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12/27/08 8:47 P

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i have a credit card that i got to do a balance transfer to try and pay off, 0% for a year. they called me over a fraud purchase of $400. they then canceled my card and was sending me a new one. while this was happening, they raised my credit limit, charged me a late fee, and started charging me on fiance %. i've since complained and told them what i am paying for and what i'm not paying for.


please watch out with this and don't let them get away with this...



 
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