They have decided to keep playing dirty

ricksang

A lot of our credit cards keep raising our rates! One raised our rate from 18.99% to 29.99%. We pay our credit cards on time and over the amount due. I called the one above and asked them why they raised my rate. They said they sent us a letter in Oct. saying they were raising our rate unless we signed a letter stating we did not want our rate raised. WTF? We never recieved a letter and why would they send out a letter like that? Bullsh!t. I spoke to three people about lowering my rate back down to where it was, and even though they admitted we have an excellent credit history, they said they could not work with us. We will never get out of debt if they keep raising our rates

I am about to take extreme measures, seriously. How can they do this to people who actually pay their bills on time? Do they want people to default? Are they doing this because of the new laws going into effect in Feb and how much will they raise our rates until then?

Nebb

That is awful, how can they get away with that? What are you going to do?

ring_pop

That sucks dude. Can you transfer any of your balance to a lower interest card, or open a new card with a lower introductory rate and transfer your balance? Even threatening to do this may help.

ricksang

Nebb You have a PM in a min.

ricksang

Our credit is tapped. We have the money to pay our bill of course but with everyone raising our rates, it's all we have money for!

ootmother2

I got a few of those notices but I don't carry a balance so I didn't pay much attention.

I did pay attention to my overdraft line.  It's always been free as long as the total of my accounts had $5,000 in them.

The last notice I read said they would charge 29.9% interest.
I called the bank  and said I would move my accounts if they didn't reinstate their previous policy.  They did

thesuninherhead

Are you able to transfer the balance to another card with a different financial institution that has lower rates?

ring_pop

29.99% is absolutely ludicrous. How hardball are you willing to play? How about telling them that you're considering filing for bankruptcy?

stinkerbell6879

That's such BS! That's why we are almost done paying them off and just gonna occasionally use them. Ugghhh! Hate the credit card company's

SarahPLiz

That's exactly why they do it. I was moving when my letter came and since it got forwarded, my next statement got there before the letter and the rate had already changed. I wil be transferring that balance as soon as I get my tax return and pay off another card (has my eye surgery on it). The lower rate card actually sent me a letter last week that they were Raising my credit limit.. wtf? whatever.. I'll be almost done by this time next year. Never again....

pooh8402

hmm, I need to start paying closer attention to that. ditto that you can threaten to move your money, and prepared to actually do so. I think it is absolutely because of the new laws going into effect in February.

ricksang

No we aren't able to do that, Sun. I can't believe they can do this.  

Okay I can't PM for some reason.

ricksang

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_etiquette_decided-keep-playing-dirty?plckFindPostKey=Cat:Wedding BoardsForum:9Discussion:dce95b4a-16c3-4fca-838a-6fc5c1cb15e9Post:2c8bd500-3fcf-4258-b170-0607c1bbc447">Re: They have decided to keep playing dirty</a>:
[QUOTE]29.99% is absolutely ludicrous. How hardball are you willing to play? How about telling them that you're considering filing for bankruptcy?
Posted by ring_pop[/QUOTE]

I told them that and they wanted the name and # of my lawyer! Seriously, this is the extreme measure I am willing to take at this point.

Nebb

Thats weird, I was just pm-ing yesterday.

beatlesgirl25

That sucks a big one, I'm sorry. It's true that credit card companies seem to treat their best (and paying) customers like crap. Obviously they want to make it as difficult as possible to pay on time, so they can make their interest off of you. I noticed them in recent years sending the statements out later and closer to the due date, to increase the chances of you getting the payment back late. I pay electronically as soon as I get my statement. I hope you get it figured out!

ricksang

See, we are stuck at the moment because my H is paying for my education, so that is a huge chunk of money we don't have to just pay off cards. And his taxes each year are through the roof, so that is more money we don't have grrrrrrrrr.  My car will be paid of in Aug and I should get a GA job so that will give us more money to start paying off debt but I am not willing to pay more interest when I have done nothing wrong!

ricksang

Nebb it won't let me send the post I can write in the box. Let me try again.

banana468

This is EXACTLY due to the law going into effect next month.

Because credit card companies can't punish those who DON'T pay on time, they're raising rates on everyone while they can now.
 
I received the same notice and the fine print says that if you don't like it that's OK.  You can just cancel your credit card.  That's the ONLY way you get out of it.

No, it's not nice, but instead of punishing those who shouldn't be spending, they're going to go after those who do.

And you can thank your Congressman/woman for that too!

FWIW, you do need to come up with a way to get your credit card spending down if you're barely paying off the balance each month.  I'm probably preaching to the choir here but that's just not smart spending.

OK, now I'm really going to bed.

stinkerbell6879

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_etiquette_decided-keep-playing-dirty?plckFindPostKey=Cat:Wedding%20BoardsForum:9Discussion:dce95b4a-16c3-4fca-838a-6fc5c1cb15e9Post:75f4337c-a999-4446-94e9-804263c338b9">Re: They have decided to keep playing dirty</a>:
[QUOTE]See, we are stuck at the moment because my H is paying for my education, so that is a huge chunk of money we don't have to just pay off cards. And his taxes each year are through the roof, so that is more money we don't have grrrrrrrrr.  My car will be paid of in Aug and I should get a GA job so that will give us more money to start paying off debt but I am not willing to pay more interest when I have done nothing wrong!
Posted by ricksang[/QUOTE]
Yeah my car was paid off this year, so we where able to play catch up! Otherwise they make it impossible!

ricksang

Maybe it sent it but it still won't let me send the PM. Does that make sense?  lol

MeaghanandMichael

They did this to us too. We switched everything to one card with a lower interest rate.  They told me they called me and spoke to me about it. YEAH right. I asked what number they had on file. It was my parent's number. Suuuuuuure you talked to me asssholes.

MeaghanandMichael

They did this to us too. We switched everything to one card with a lower interest rate.  They told me they called me and spoke to me about it. YEAH right. I asked what number they had on file. It was my parent's number. Suuuuuuure you talked to me asssholes.

ricksang

We don't use our cards anymore buuuuuuuut we did. I even asked if they could just close the account and lower our rate back to where it was, nope no go.

SarahPLiz

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_etiquette_decided-keep-playing-dirty?plckFindPostKey=Cat:Wedding BoardsForum:9Discussion:dce95b4a-16c3-4fca-838a-6fc5c1cb15e9Post:75f4337c-a999-4446-94e9-804263c338b9">Re: They have decided to keep playing dirty</a>:
[QUOTE]<strong>See, we are stuck at the moment because my H is paying for my education,</strong> so that is a huge chunk of money we don't have to just pay off cards. And his taxes each year are through the roof, so that is more money we don't have grrrrrrrrr.  My car will be paid of in Aug and I should get a GA job so that will give us more money to start paying off debt but I am not willing to pay more interest when I have done nothing wrong!
Posted by ricksang[/QUOTE]

Ar eyou eligible for Stafford loans through your financial aid office? They are REALLY low rates now, especially compared to credit cards. I have actually advised some of our graduate students to take all they are eligible for (twice their tuition cost) at least one semester, so they can pay off high interest credit cards. The Staffords are a low rate, and you can put the money you would have paid to the CC on to paying back the loan, and make more progress on the principle in less time.

ricksang

Beatles we pay electrioncally too.

Banana that makes a lot of sense and fine print huh? Tricky.

ricksang

I am eligable for zero loans or financial aid. The loan money is tapped out from my first degree and my H makes too much money for FA and I can't get FA because I am seeking a masters. I need to look into scholarships but I keep forgetting b/f the deadlines.
I just wish they'd keep our rates the same! Everything would be fine then.

MeaghanandMichael

Have you considered stripping Ricks? I was one second away from it when I saw the freaking money grad school cost and how little they were willing to give me. Mother effers.

SarahPLiz

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_etiquette_decided-keep-playing-dirty?plckFindPostKey=Cat:Wedding BoardsForum:9Discussion:dce95b4a-16c3-4fca-838a-6fc5c1cb15e9Post:f70a3fff-8e2b-432c-b3fa-550396517d52">Re: They have decided to keep playing dirty</a>:
[QUOTE]I am eligable for zero loans or financial aid. The loan money is tapped out from my first degree and my H makes too much money for FA and I can't get FA because I am seeking a masters. I need to look into scholarships but I keep forgetting b/f the deadlines. I just wish they'd keep our rates the same! Everything would be fine then.
Posted by ricksang[/QUOTE]

SOrry, that sucks! Most of our grad students still have eligibility for stafford, so I thought I'd suggest it. And yes, institutional aid is hard to get as a grad sutdent unless you have a fellowship or something. GOod luck!

Nebb

Did you get my email ricks? Im deleting it now.

SarahPLiz

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_etiquette_decided-keep-playing-dirty?plckFindPostKey=Cat:Wedding BoardsForum:9Discussion:dce95b4a-16c3-4fca-838a-6fc5c1cb15e9Post:b794af53-c924-4682-8a33-21845a10d448">Re: They have decided to keep playing dirty</a>:
[QUOTE]Have you considered stripping Ricks? I was one second away from it when I saw the freaking money grad school cost and how little they were willing to give me. Mother effers.
Posted by MeaghanandMichael[/QUOTE]

Hmmm.. last time I was over that way (BR) there were lots of new adult businesses popping up.. ,, or not!

ricksang

ygm Nebb.