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  • #16
    Re: Credit Card Company Fraud (IMHO)

    jeff, it's been a good 2-3 years since i cut mine into pieces at the counter too

    rick.
    phoebe it is

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    • #17
      Re: Credit Card Company Fraud (IMHO)

      Originally posted by NorthernIllinoisPlumber View Post
      I noticed that if a payment is late, then they can up the rate. They are not in the business to be friendly. It pays to keep up with things.
      That's true, I learned this lesson the hard way. But it did teach me to never be late on a payment again.
      Schumacher Homes

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      • #18
        Re: Credit Card Company Fraud (IMHO)

        New credit card company story. I received a new statement from Citi Bank bumping my rate up to 18% from 9%. Brenda gave them a quick call this morning and they dropped it down to 7.24%. Unlike Advanta they were willing to take a realistic look at the facts.

        Mark
        "Somewhere a Village is Missing Twelve Idiots!" - Casey Anthony

        I never lost a cent on the jobs I didn't get!

        Comment


        • #19
          Re: Credit Card Company Fraud (IMHO)

          Originally posted by ToUtahNow View Post
          New credit card company story. I received a new statement from Citi Bank bumping my rate up to 18% from 9%. Brenda gave them a quick call this morning and they dropped it down to 7.24%. Unlike Advanta they were willing to take a realistic look at the facts.

          Mark
          Thanks for the tip Mark. I have always been a pay as I go type until a few years ago when I found out no credit is worse than bad credit. I use my card for everything now and pay off the balance in full every month, but I am going to see if they bumped my rate just in case I do need to let a balance slide for some reason some day in an emergency.

          Eli
          A good carpenter makes few mistakes, a great carpenter can fix his own.

          Comment


          • #20
            Re: Credit Card Company Fraud (IMHO)

            Here is a different twist...
            Yesterday I received a letter from Sears telling me that since I do not use my card a lot they were "lowering my credit" They dropped my limit by $5000.00!!!! I think the card
            is via Citibank.

            Now I have been with then before Sears bought out Roebuck! I also always paid the balance off in full.
            On one hand I can still live on the $6000.00 new limit but on the other hand I wonder how this unsoclisted change in credit limit will effect my overall credit score?

            I plan to chat with them later today

            Cactus Man

            Comment


            • #21
              Re: Credit Card Company Fraud (IMHO)

              Don't forget everyone that once a year you can get a FREE copy of your credit report from each of the three credit reporting companies by going to

              https://www.annualcreditreport.com

              no other site is free. The one advertised on TV (freecreditreport.com) is run by the credit reporting companies, only annualcreditreport.com will get you a free copy of your report from each of them.

              You can get them all on one visit or space them out through the year like one every four months.
              ---------------
              Light is faster than sound. That's why some people seem really bright until you hear them speak.
              ---------------
              “If I had my life to live over again, I'd be a plumber.” - Albert Einstein
              ---------
              "Its a table saw.... Do you know where your fingers are?"
              ---------
              sigpic http://www.helmetstohardhats.com/

              Comment


              • #22
                Re: Credit Card Company Fraud (IMHO)

                Bob,

                Good point. Just remember you don't get your "score" for free, just the information that makes up your score.

                Comment


                • #23
                  Re: Credit Card Company Fraud (IMHO)

                  Originally posted by Service Guy View Post
                  I use a Visa check card (debit) issued by my bank for most purchases, or I sometimes use my Discover card to earn 'cashback'. Since I've had my discover card, I've never paid one single cent in interest, but they've paid me over $70 in cashback bonuses (usually 1% of purchases)! Make the credit card companies PAY YOU!
                  I'm with you. Pay it off every month, and make them pay you. My credit card has reward points or you can get your rebate in cash. I usually take mine in the form of gift cards, as they give you more than cash - IE 10000 reward points for 100 in cash, or 8000 points for a $100 gift card to one of the Borgs. I usually manage to get 3 $100 gift cards per year out of them as my wife and I charge almost everything. We pay it off every month so I don't even know or care what my interest rate is, as I don't pay any. To me it is a checkless check. I know I could use my debit card but they don't pay you for that! Plus I get a statement that lets me know if I need to transfer money into the checking account BEFORE I pay my bill. If both my wife and myself used debit cards instead, making sure every transaction went into the register would be a pain in the drain!

                  Comment


                  • #24
                    Re: Credit Card Company Fraud (IMHO)

                    I pay as I go. I closed every credit card/ revolving charge account about 3 yrs ago. I got on the Dave Ramsey band wagon and it feels good. Lots less stress.

                    You may think you're getting money out of them but they will win in the end.
                    Just wait till they conveniently/accidentally forget to post your payment on time. (It happened to me.) You did everything right but they're in control. Then there's a $50 or more late charge and your interest rates go up and your credit is dinged and you have to spend hours on the phone explaining to a dimwit who doesn't believe you and doesn't care anyway.

                    No thanks. Freedom is fine.
                    "Man will do many things to get himself loved, he will do all things to get himself envied." Mark Twain

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                    • #25
                      Re: Credit Card Company Fraud (IMHO)

                      Gotta love Dave Ramsey. Finally someone who tells it like it is. If you're stupid, he's going to tell you that you're stupid. Still slowly trudging through baby step #2, but hope to have this mess cleaned up in 18 months.
                      Distractions are everywhere, don't lose sight of your dream.

                      Comment


                      • #26
                        Re: Credit Card Company Fraud (IMHO)

                        I like what Dave Ramsey says in theory, but I have signed up for lots of debt in the last two years. I like having my cars and house more than having money in the bank; especially when the interest rates are so darn low. I do avoid credit card debt, but like others put nearly everything on it, because it makes budgeting easier (and I like getting $$$ in cash back every year). I've also paid about 50% more principle on my mortgage over the last two years than I would if i were just paying the regular payment. I know that it may not be the best financial move (why lock the money up when you can have it liquid in the back), but it makes me feel good.

                        Comment


                        • #27
                          Re: Credit Card Company Fraud (IMHO)

                          Originally posted by SlimTim View Post
                          Lots less stress.

                          No stress at all for me. It would be a lot more stressful wondering if all the transactions on a debit card were in the checkbook register or not!

                          You may think you're getting money out of them but they will win in the end.
                          Just wait till they conveniently/accidentally forget to post your payment on time. (It happened to me.) You did everything right but they're in control. Then there's a $50 or more late charge and your interest rates go up and your credit is dinged and you have to spend hours on the phone explaining to a dimwit who doesn't believe you and doesn't care anyway.

                          This has happened to me twice in 20 years. Both times, after getting a supervisor on the phone, I got the charges taken off, even when it was my fault for being one day late. Once I told them to look at the history on my account, and asked them if it was worth 50 bucks to lose my business, the problem went away! The trick is to get to a supervisor and not spend a lot of time screwing around with the clerk reading their script!

                          No thanks. Freedom is fine.
                          Jim

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                          • #28
                            Re: Credit Card Company Fraud (IMHO)

                            I'm not trying to change your way of life, just saying I lived like that for 30 yrs and I like it better now.
                            If I were worrying if I had enough money in the bank to cover what I'm about to buy on the debit card, I wouldn't buy it.
                            If I'm laid up in bed with a bad back (as has happened to most of us and one of our brethren on the forum is in that predicament now) I would rather have 6 months of expenses banked than use the cards and face 20k in debt and tell my wife to go out and get a job, quick!
                            Life happens HARD sometimes, and the credit card companies don't give a ff about you, your business, or your family. Only what you owe them and how long can they string you out.

                            But don't worry, if BHO get in, we'll all get 3 mos vacation like the French and $1000.00 to boot!
                            "Man will do many things to get himself loved, he will do all things to get himself envied." Mark Twain

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                            • #29
                              Re: Credit Card Company Fraud (IMHO)

                              "Just wait till they conveniently/accidentally forget to post your payment on time."

                              That is what one CC company was caught doing, even worse they were shredding the payments as they came in w/o even opening them and then saying they never got them to make you be late so they could bump the rate up to the max. Employees testified to this in court that this is what they were told to do.
                              ---------------
                              Light is faster than sound. That's why some people seem really bright until you hear them speak.
                              ---------------
                              “If I had my life to live over again, I'd be a plumber.” - Albert Einstein
                              ---------
                              "Its a table saw.... Do you know where your fingers are?"
                              ---------
                              sigpic http://www.helmetstohardhats.com/

                              Comment


                              • #30
                                Re: Credit Card Company Fraud (IMHO)

                                It's interesting to see how people justify getting and using credit cards. Like the college student who signs up for a credit card so he can get the free t-shirt. A wise man once said, "Play with snakes, and you're going to get bit."
                                Distractions are everywhere, don't lose sight of your dream.

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