Beware the credit card companies!

[DammitJanet]

Well now I am eternally grateful that I was turned down for a credit card! I wanted a Walmart card to buy Xmas with but I am so thankful they declined me. My debit card will suffice. Or layaway at Kmart. Kmart doesnt have the options but I can deal with it.

 

[witzend]

I think Obama should set a federal law in this legislature you are all getting, setting a strictly enforced limit on interest rates. Not on raising the rates as he's doing, but also a mandatory maximum that can be charged. It is robbery.

I loved Schoolhouse Rock when I was a kid, and some of those things you never forget. When I think about how these things work, I always think "I'm just a Bill, I'm only a Bill", or "Conjunction Junction, what's your function?"

Just a point of law here. The President signs bills that have gotten through a Congressional Committee, pass a vote in the House, then pass a vote in Congress. Only then can the President make a law. Usually the President signs the bill into law, but he can veto the bill. So, to complain about what the President has or hasn't done to pass a law is not accurate. Think about your Senators and Congressmen and write them a letter (forget the stupid e-mail petitions, no one ever sees them) to voice your concerns. One personal letter is worth a thousand voter opinions to them. The President knows that is where your complaints belong if you want them acted upon.

[ame="http://www.youtube.com/watch?v=mEJL2Uuv-oQ"]YouTube - Schoolhouse Rock- How a Bill Becomes a Law[/ame]

 

[hearts and roses]

Well, I called Citibank and cancelled the card. They stated that my rate will remain as is until the balance is paid in full, which I'm going to expedite asap.

This made me curious about my one other card, Capital One, and so I called them to ask if they had any plans to do the same as Citibank. The first rep said there was nothing on my account to indicate an increase. Obviously, she didn't understand what I was talking about so she directed me to my personal account rep, who explained to me that there will be a mailing going out in the mail, though, she claimed, not before the end of the year. So I asked her if Capital One's intention was to follow in Citibank's footsteps and she acknowledged that there will be an increase in the APR across the board, but that at this time, my account has the lowest APR they can offer ANYONE. In fact, she said that she hasn't seen my rate in WEEKS - like I was suppose to squeal with delight or something.

I suppose it's just a matter of time before I will be calling them back to cancel that account as well. Oh well, it's probably better for me anyway. Just stinks when the rug gets pulled out from under you, though, doesn't it?

Witz, I loved Schoolhouse Rock as well and a few years ago we went to see a production put on my the children's theater that difficult child used to be involved with. Great stuff! (And a nice reminder to those of us who have forgotten how things get done in Difficult Child)

 

[Lothlorien]

Jo, after husband was tossed around several times, he finally got this Allstate division of the Citicard. We closed our card and renogotiated our payment to 0% for the next 36 months. We should have it paid off by then.

 

[GoingNorth]

Also be aware that ANY time ANYONE makes and inquiry/adjustment to your accounts, that is reported to the credit agencies.

It also makes the account current again. husband and I found this out years ago when a CC we had closed with no balance was still showing as active on our credit report. The CC company and issuing bank were using this tactic to 'bump' the account.

 

[hearts and roses]

I spoke with a friend of mine who works in banking and she said that the things that will really sting is that everytime you close an account like this, it causes your credit score to go down a bit, as it's understood to be a move by people who can't afford to have that account available. I have heard this before and it does worry me as we're going to go for a mortgage soon, in my name only. Sooooo, that kind of stinks if it's true. On the credit report, it will be listed as "Account closed at customer's request" but that's it.

Loth, I would like to speak with whoever your H spoke with. Haha.

Hey Loth! Are you still reading it?? I am reading it very slowly to make it last!

 

[Lothlorien]

I'm on page 740. I've been up until 2 in the am reading some nights, because the only time that I can read is later at night. I woke up Sunday morning thoroughly exhausted for church. Last night, I found myself falling asleep after about a 1/2 hour, because I've been up so late reading. I'm starting to see where she's going and she's going to leave us hanging for the next book. I don't think I can stand another three year wait. Agggg! I hope she gives us another Lord John book to keep us satisfied in the meantime.

 

[hearts and roses]

I'm on page 740. I've been up until 2 in the am reading some nights, because the only time that I can read is later at night. I woke up Sunday morning thoroughly exhausted for church. Last night, I found myself falling asleep after about a 1/2 hour, because I've been up so late reading. I'm starting to see where she's going and she's going to leave us hanging for the next book. I don't think I can stand another three year wait. Agggg! I hope she gives us another Lord John book to keep us satisfied in the meantime.

Seriously, my eyeballs are hanging out of their sockets from staying up so late reading. I read everywhere and anytime...even if it's just for 3 minutes. I also see she's going to leave us hanging again. I think I'm near where you are, about 3/4 of the way through. And the family lines continue! Aaaagh, another 3 years? I will probably re-read it over the winter; maybe the Lord John books too.

 

[witzend]

You could just leave it at a zero balance and cut it up. Then it won't show as "closed at customer's request."

 

[hearts and roses]

The thing is, I have a balance on this card from when Sophie was sick so if I want to avoid the increase, I must close the card before the higher rate goes into effect.