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The Watercooler
Beware the credit card companies!
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<blockquote data-quote="slsh" data-source="post: 313142" data-attributes="member: 8"><p>Jo - I got the same letter. I was *livid*. Like you, I pay ahead of time and have been fortunate to not have to carry a balance most of the time. Needless to say, I shredded both of our cards. I do have a balance to pay off on one of them, hopefully by next month, and then I'm calling them and telling them that they can cancel our 2 cards and kiss a 25-year *good* customer goodbye. Seriously - 30% interest? Are you kidding me? </p><p> </p><p>What they're going to end up with is folks with- bad credit who cannot go elsewhere, and who have bad credit for a reason. Guess they'll be expecting a bailout too. </p><p> </p><p>Honestly, sometimes I really worry about the state of the world given the lack of basic common sense.</p><p> </p><p>My understanding is that legislation is in place, but I think I heard somewhere that it doesn't go into effect until the end of Nov?</p></blockquote><p></p>
[QUOTE="slsh, post: 313142, member: 8"] Jo - I got the same letter. I was *livid*. Like you, I pay ahead of time and have been fortunate to not have to carry a balance most of the time. Needless to say, I shredded both of our cards. I do have a balance to pay off on one of them, hopefully by next month, and then I'm calling them and telling them that they can cancel our 2 cards and kiss a 25-year *good* customer goodbye. Seriously - 30% interest? Are you kidding me? What they're going to end up with is folks with- bad credit who cannot go elsewhere, and who have bad credit for a reason. Guess they'll be expecting a bailout too. Honestly, sometimes I really worry about the state of the world given the lack of basic common sense. My understanding is that legislation is in place, but I think I heard somewhere that it doesn't go into effect until the end of Nov? [/QUOTE]
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Beware the credit card companies!
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