Big financial OOPS and a lucky break...

Discussion in 'The Watercooler' started by gcvmom, Feb 6, 2009.

  1. gcvmom

    gcvmom Here we go again!

    I dropped the ball last month and was late on a credit card payment for an account that has a huge balance (for a variety of reasons... husband's brain surgery co-pays, down payment on difficult child 2's braces, husband's two root canals and crowns last Fall, his gambling sprees, our higher airfares to Hawaii last year after the flights were cancelled due to bankrupt airlines, yada, yada, yada).

    The company jacked my rate from 5.9% to 29.9%! Big ouch. My fault, I know.

    But someone must have been looking out for me because the day before I found out about the big hand-slap, I'd received an offer in the mail for a card with 0% for one year on balance transfers and NO balance transfer fee (haven't seen a deal like that in a loooong time). I applied online earlier this week and FINALLY got word today -- we were approved! Talk about your HUGE sigh of RELIEF!

    husband had a lightbulb moment the other day when we were discussing our lousy financial health -- he said, "we really need to be careful not to run up the credit cards like this again." Uh, DUH? I've been nagging on him for YEARS to live within our means! I sure hope he's finally learned the lesson.
  2. eekysign

    eekysign New Member

    Bank of America? They did the same to me with-o me missing a payment. Jerks. :)

    I did the exact same as you. Good job!!!! We are lucky gals!
  3. Hound dog

    Hound dog Nana's are Beautiful

    husband is always saying we need to "live within our means". Problem is that he's the one spending the money and I'm the one attempting to live within the budget. sigh The big reason I cut up credit cards and they're no longer allowed around here.

    Glad you got a lucky break.

  4. trinityroyal

    trinityroyal Well-Known Member

    Phew! Whew!
  5. ML

    ML Guest

    I am soo glad you were approved! Yipee!
  6. gcvmom

    gcvmom Here we go again!

    Eeky, no it was Citibank. I'm going to cancel the account once we get everything settled. That's my revenge :) And we have a great credit score, so it's not like I'm in the habit of being late on my payments either. That's what irks me.

    DL, husband has very poor impulse control when it comes to shopping. I think I need to lower the limit on his card to $500.

    Thanks Trinity & ML :)
  7. rejectedmom

    rejectedmom New Member

    If you read the fine print on most Credit Cards you will notice that they state that they can raise your rates at any time without a reason. I only use the one card anymore and try to pay it off as quickly as possible. -RM