Credit cards

[jwcfbd]

I just got this months bill and like always I read through the charges.  Here I go.

 I've had this card for over 10, carried a MAJOR balance for more then a couple of years, always made minimum payments plus a couple hundred, and I've never been late. Last year when I sold my house I was finally able to get all caught up on my bills.  So I paid this one off in full.

I got my bill today and on the first line I see "Membership fee"  I have never nor will I ever pay a credit card a membership fee.  I looked at the interest rate and it's up to 10.79% that's up over 4.25% in less then a year.  That's the highest this card has ever been.  Sense I paid off my debt I have not carried a balance and continue to pay the bill the day after I get it.  This is how they repay you, I don't think so.  I collected my statements for the last year and sat down in next to the phone.  I'm not going to take this I'm going to cancel my account.  I take a deep breath and call the 1 800 number.  When they answer the phone I'm ready to fight.  I question the membership fees and get this "There are no fees on your account we just use that to mark the new calendar year on your account."  Oh, calming down a little I ask about the interest rate hike and get this. "Yeah, the rates have been going up by about .25% each month, however looking at your account we can do something about that.  Please hold while I transfer you to an account specialist."  The next rep gets on the phone and says " You have been an outstanding customer for aver 10 years so we'll do this.  How about an interest rate of 1.99% for the next 9 months?" Now I'm speechless and can only say thank you very much.

I'm done now.

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[Over_Easy]

I just got this months bill and like always I read through the charges.  Here I go.

 I've had this card for over 10, carried a MAJOR balance for more then a couple of years, always made minimum payments plus a couple hundred, and I've never been late. Last year when I sold my house I was finally able to get all caught up on my bills.  So I paid this one off in full.

I got my bill today and on the first line I see "Membership fee"  I have never nor will I ever pay a credit card a membership fee.  I looked at the interest rate and it's up to 10.79% that's up over 4.25% in less then a year.  That's the highest this card has ever been.  Sense I paid off my debt I have not carried a balance and continue to pay the bill the day after I get it.  This is how they repay you, I don't think so.  I collected my statements for the last year and sat down in next to the phone.  I'm not going to take this I'm going to cancel my account.  I take a deep breath and call the 1 800 number.  When they answer the phone I'm ready to fight.  I question the membership fees and get this "There are no fees on your account we just use that to mark the new calendar year on your account."  Oh, calming down a little I ask about the interest rate hike and get this. "Yeah, the rates have been going up by about .25% each month, however looking at your account we can do something about that.  Please hold while I transfer you to an account specialist."  The next rep gets on the phone and says " You have been an outstanding customer for aver 10 years so we'll do this.  How about an interest rate of 1.99% for the next 9 months?" Now I'm speechless and can only say thank you very much. I'm done now.

Yeah because they want you to think, "Wow, only 1.99%...spend, spend, spend." They hope you dig yourself into a hole again and are giving you a shovel for 9 months to do it.

[05 Busa LE]

You da man!

[jwcfbd]

Yeah because they want you to think, "Wow, only 1.99%...spend, spend, spend."  They hope you dig yourself into a hole again and are giving you a shovel for 9 months to do it.

Ain't that the truth. Been there done that. It isn't going to happen again. If I don't have the cash I'm not getting it.

[Fugly]

Keep and eye on them.. They'll Rape you any chance they get. They don't want customers that pay the balance off and are responsible. They want people that maintain a large balance or go over so they can charge bull sh!t fees and then when these people go chapter XXX they just screw the rest of us. Pay cash for every thing, Have a Amex and pay it off every month. just my 2 cents

[Warputer]

 How about an interest rate of 1.99% for the next 9 months?"

So what's the rate after the 9 months ? Gotta be catch ?

[yamahor]

 How about an interest rate of 1.99% for the next 9 months?"

So what's the rate after the 9 months ?   Gotta be catch ?  

I was wondering the same thing.

[georgiabusa_05]

watch em, they will put a screwin to ya. I know to well. not even a jar of vaseline.

[DCLXVII]

I just got this months bill and like always I read through the charges.  Here I go. :angry:
:37:  I've had this card for over 10, carried a MAJOR balance for more then a couple of years, always made minimum payments plus a couple hundred, and I've never been late. Last year when I sold my house I was finally able to get all caught up on my bills.  So I paid this one off in full. I got my bill today and on the first line I see "Membership fee"  I have never nor will I ever pay a credit card a membership fee.  I looked at the interest rate and it's up to 10.79% that's up over 4.25% in less then a year.  That's the highest this card has ever been.  Sense I paid off my debt I have not carried a balance and continue to pay the bill the day after I get it.  This is how they repay you, I don't think so.  I collected my statements for the last year and sat down in next to the phone.  I'm not going to take this I'm going to cancel my account.  I take a deep breath and call the 1 800 number.  When they answer the phone I'm ready to fight.  I question the membership fees and get this "There are no fees on your account we just use that to mark the new calendar year on your account."  Oh, calming down a little I ask about the interest rate hike and get this. "Yeah, the rates have been going up by about .25% each month, however looking at your account we can do something about that.  Please hold while I transfer you to an account specialist."  The next rep gets on the phone and says " You have been an outstanding customer for aver 10 years so we'll do this.  How about an interest rate of 1.99% for the next 9 months?" Now I'm speechless and can only say thank you very much. I'm done now. :37:

Yeah because they want you to think, "Wow, only 1.99%...spend, spend, spend."  They hope you dig yourself into a hole again and are giving you a shovel for 9 months to do it.

QFT. There is no doubt that they're gouging the public between interest rates and gas prices. Then again, I'm paranoid so i might not rule out conspiracy by the government

[chrisjp]

no credit cards for me just one from the credit union and its limit is 1500 so not bad

[cmc8]

they $%*& you with the credit cards i cut mine up only have my bank debit card with visa logo. no more bull.

[DAZZ]

Different side of the pond I know..... but the average charge of interest on credit cards HERE is 19%............. and they just love you, using them...

[heavybusa]

You can get a good deal if you pay attention and shop around.

The prob is that when you apply they base the offer off of your credit score, but after that everything is based off of their company policy.

[MC MUSTANG]

I use my AMEX for everything (groceries, gas, shopping, haircuts, everything)... no interest, pay it off every month, plus get points for what I spend. There is a membership, but I pay that with the rewards I get in the first four months! Most cards that drop your interest rate to an extremely low percentage or to zero, have a statement that says if you default on any loan or credit line reportable to the credit bureaus, they will revoke your promotional rate and you'll actually get a rate hike from what you originally had. Might want to look for that verbage. Not that it is an issue, other than being there.