Credit Cards

[firstenrgy]

TweetWho has stopped using credit cards all together? I'm asking because I did last month. I've had this credit card since 1992. I've NEVER carried a balance on it and always paid the amount I charged each month including back 9 years ago when I (made the horrible mistake but I digress) of getting married and charged 12,000 in a month. I opened my staement after a heavy travel month and they included a bold type on my statement saying that my intrest rate which was 7.9% or something like that will now be 21.99% So I was thinking that I am fortunate and don't have any balance with them but I am NOT using the card and used my debit card last month for my travel expenses. It killed my checking account balance, but once I got reimbursed for it, it was nice that all the dough was mine.
I've heard on the news of the bank nightmares but thought they were exaggerated? I personally will not give this bank my business any more even though now I'm afraid to all together cancel my account for fear that I wouldn't get another card. By the way, they lowered my credit from 35,000 to 8,000.

[dixiechick]

TweetI've always paid my balance off at the end of the month too until my divorce. Found out my ex wasn't paying off the balance of our credit card. I played the "low-intro-rate" game until I got it paid off and then closed that card out. Then in May I signed up for our health insurance and I had to put the first payment on the card. I paid it off at the end of the month only to get the next bill with a late fee + finance charges. Turned out I sent the payment to E's mortgage company instead. I got nailed on the fees. That set me back. I'm still trying to pay that one off. I rolled it over to a card with low promtion rate (3.99%)

I haven't hard any major problems with the cards. I did get a notice that my rates on one card went up to 15.99%. I guess the other will go up too.

[Dzone]

TweetThey want to keep you enslaved to them. Much of what they do is illegal and can be beaten in a court of law if a person knows their rights and stands up to them. They are counting on the majority of people not to stand up to them. Credit card companies are ruled by greed and they have no morality whatsoever. Havent used a credit card in about 10 years. Only a debit card. Screw those bastards

[angryoldman]

TweetI've had the same credit card since I was 21. My rate was 6.9% fixed for the life of the card. Like everyone else, I get a letter in the mail one day saying my new interest rate will now be 8.9%. Since I don't carry balances as well, it doesn't matter.
But for all intents and purposes, the new law states that you can tell your credit card company that you do NOT accept their new terms. And they have to keep your rate at whatever it was originally. HOWEVER, on the flip side, they will close the card and not allow you to make any new purchases. And once your balance is paid off, you will have to reapply for a new card. At which time, they could make your rate whatever the heck they want! So it's better to take the slight rate hike. Thanks Mr Obama!

[MOUNTAIN-MAN]

Tweethavent had a cc in 5 years and dont want another

[deepsouth]

TweetI have 1 card and I pay it off every month

[dixiechick]

TweetE cut all of his cards after his divorced. Paid them off. He has no cards and no debt.


Credit card companies are blood sucker... bottom feeders. They just want suck people dry. I can remember a few years ago they use to tell you to pay your cards off every month. Close out any accounts that you don't use or need. It was recommended to keep only one or two cards. Now all the so-called financial advisers are singing a totally different tune. They want you to keep the card and show a steady payment by paying on your balance. I think the credit card companies have gotten to them some how. They will lose too many customer if they all paid off their cards and closed their accounts.