I am sorry. I need to vent. I received a 2 page letter from My Advanta master card “people” Basically saying they are raising my rates from 7.99% to over 19%. I have been with them for over 2 years, always pay on time and no issues. This was not a variable rate. I called customer service, who I barely understood because they did not grasp the English language yet. I had to wait for a supervisor, who obviously spoke from a script. Couldnt answer a basic reason why…just basically patterns , other rates, and other BS.
the supervisor said I can “opt out” of the rate increase! Wait…What? I can opt out? “oh yes…send a letter dated by may 18th and we will not increase your rate” We will close your account…but your balance will remain at the previous rate" WTF!!!
Is this what I heard on the news yesterday about CC companies strong arming people with the rate increses?
Man…If I lived near Salt Lake City where they are…I would be there in a new york minute with neon colored sign marching in front of thier offices.
Ok…i think I’m done…I feel better:p
Does anyone know of any Biz credit card companies I can apply to??
I paid off all my CCs well over a year ago. On my last payment to each one
(3) I cut the CC up and mailed it in with the final payment and wrote on the bill to stick the CC up their azz one piece at a time. I don’t use them, don’t need them. They are all a rip-off. The money I was sending them now goes into a interest bearing savings account or CD.
Thats probably exactly what I will do
President Barack Obama has told the US credit card industry to scrap unfair interest rate hikes and to be more transparent and accountable.
He told bosses of 13 card issuers he wanted to keep the credit card market but to “eliminate some of the abuses”.
Politicians have expressed anger that many of the banks issuing credit cards with high fees are the same banks that have received government bailout money.
Banks say tighter rules would reduce income at a difficult time for them.
My heart just bleeds for these theiving banks & cc companies. :mad: I guess if they knew how to manage money they would of held on to the money they were legally stealing during the good times to help get through the bad. Now that times are bad for all they are raising their rates to legally steal even more money. The sorry %*#@!&.
Banks/CC companies should be showing an example on how to manage money. If they can’t manage money then let them fold. Why should we give them more money to mis-manage. If a bad bank or cc co goes under there is a good one around the corner that would be thrilled to service their disgruntled customers.
Okay, I feel better now. 
They do know how to manage money. They have managed to get my money, your money and everyone’s money in their own pockets. I can tell you this. I am at my boiling point with all these companies ripping my money from my hands. I’m on the verge of sniping some board of directors. No joke.
The Bible says the borrower is a slave to the lender, be careful who’s slave you become. I have one credit card left to pay and a small car loan and I’m debt free. I plan to stay that way.
Yep, these credit cards and banks in general have a real racket going! The Federal Reserve Bank system is the biggest swindle going.
One reason I am starting my WC biz is to pay off my credit cards. Don’t have much CC debt, but want it to BE GONE! ASAP!
And, after 20 years of researching the Federal Reserve, loan practices of the banks, and the government, I will NEVER again have a credit card or car loan. Or mortgage. It’s just me, my two little dogs and 1 cat and we live in a paid for 5th wheel trailer and I plan on staying right where I am til I croak!
Just call me Trailer Trash!:D:D
we have 3 ccs. On my capital one plat card they wanted to raise the rates…i called and said im closing the acct due to transfer to my citi bank acct…it was at 6.9% they wanted 19%…had the card for 6 yrs and never missed a payment…they gladly lowered the rate to 5.99%. ****ers!! hahahaha
