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These credit card companies are out of their minds

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pembroke3355

Banned
Joined
Apr 18, 2008
Messages
1,881
I just received a letter that one of my CC was being terminated. This is not surprising as I have heard some of them were going to do this. This card was one for people who had bad credit. My credit suffered because of financial hardships from a few years ago. I have had this card for 5 months. It was a $300 credit limit which was charged a initial $150 setup fee and a $6 a month maintenance fee. I have never missed or been late on one payment.

The letter states that I am responsible for the balance(that goes without saying)but they still want to charge me a $6 monthly fee on a card I can no longer use. These companies are getting billions of our tax dollars and pulling garbage like this. They are nothing but crooks in my opinion. I am just going to pay the full balance so I do not have to pay this monthly fee. I really want to include a letter with it telling them to FUK off. What a scam and ripoff that these people can legally get away with. :angry:
 
pembroke3355 said:
I just received a letter that one of my CC was being terminated. This is not surprising as I have heard some of them were going to do this. This card was one for people who had bad credit. My credit suffered because of financial hardships from a few years ago. I have had this card for 5 months. It was a $300 credit limit which was charged a initial $150 setup fee and a $6 a month maintenance fee. I have never missed or been late on one payment.

The letter states that I am responsible for the balance(that goes without saying)but they still want to charge me a $6 monthly fee on a card I can no longer use. These companies are getting billions of our tax dollars and pulling garbage like this. They are nothing but crooks in my opinion. I am just going to pay the full balance so I do not have to pay this monthly fee. I really want to include a letter with it telling them to FUK off. What a scam and ripoff that these people can legally get away with. :angry:
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Disgusting isn't it? WE give the banks billions of dollars and they still f**k us.
 
It is always the small guy getting it in the back end... something has to change....and WE the tax payer, bailed these a-holes out. Funny how they forget that so quickly.
Rob
 
It is pathetic for sure. It will be going back to the days of "Layaway" I for one didn't have a credit card until last year. Never needed one. I did however see the benefits of protection on purchases and car rentals. That is the main reason I got one.

Still we help them and they crew us. Does not make sense.
 
With the way things are going, they're pissing off more and more Americans everyday. I predict a major upheaval soon... Not going to be pretty, but things sure are heading that way.
 
The problem I believe is people are running their credit cards through the roof with no intentions ever paying them back. I'm talking large sums $50k+. And it is affecting the honest people.
 
The Dems are now in complete control of every branch of government. Obama has only been in office 2 weeks. It's just the beginning of much more big government to come.

Sad thing is the Reps aren't any better, but with Dems and Reps sharing the branches they did LESS harm.

Off to buy ammo and cigars....

Kevin
 
eruption said:
The Dems are now in complete control of every branch of government. Obama has only been in office 2 weeks. It's just the beginning of much more big government to come.

Sad thing is the Reps aren't any better, but with Dems and Reps sharing the branches they did LESS harm.

Off to buy ammo and cigars....

Kevin
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Careful, careful on the political front. Credit card companies jerking us around does not have anything to do with big government or small government.

Do we want to get into how bankruptcy reform in 2005 enabled the credit card companies to take bolder in more aggressive action against us? Do we want to look at the roots of that legislation? I think not.
 
My fiance had her card limit reduced with no warning. We didn't realize it until we tried to use it to buy a new washer. She had like 20% of the limit and never missed a payment. Plan on paying it off and closing it. We both have there banking service...but not for much longer. I don't think these banks realize how much worse it can get for them pulling this type of sh1t.
 
KeyserSoze said:
My fiance had her card limit reduced with no warning. We didn't realize it until we tried to use it to buy a new washer. She had like 20% of the limit and never missed a payment. Plan on paying it off and closing it. We both have there banking service...but not for much longer. I don't think these banks realize how much worse it can get for them pulling this type of sh1t.
Click to expand...


Yes that is what happened to me. Was well under the limit and never missed a payment and get a letter saying it is terminated but we still want our $6 monthly maintenance fee while you carry a balance wow. :angry:
 
I understand the frustration. I have seen it. Unfortunately, that's the game, and they are making the rules. Keeping diligent attention toward your credit report is an absolute necessity. Prospective employers can use your credit score to gauge your reliability; for better or worse. I think these CC companies are scared and they are cutting liabilities. This whole bail-out fiasco is widening the schism between 'us' and 'them'.
 
Unfortunately, there isn't a whole lot that can be done. That's life, as they say
 
Similar thing happened to me. I have been a loyal American Express cardholder since 1987 and had a zero balance because I wanted to be a responsible consumer. I have used it sparingly since late 07, but paid my balance on time. I go to use it in December as I was flush and the card was declined!?!?!!? WTF? Seems I wasn't using it enough and it was cancelled in July! WTF X20!!!! Customer since 1987!!!! nothing they could do as it had been 90 days. Well F them! Can't wait to see one of their "classic" ads for "Member since" BS! I guess I should have just kept a balance that I couldn't afford and they would have kept me on. :0 I hope they CHOKE!
 
There is yet another credit card bill of rights bill in the works. Might actually pass this time. In the meantime, get the fock off of the plastic mountain, boys. You don't need it.
 
Some of the CC companies adjust your card limit based on where you shop. They are trying to more heavily rely on behavioral analysis to predict potential problem consumers. For instance, your card limit can be lowered because the other people at shop x, where you happen to shop, have poor credit. Sounds silly, don't it?

-Mark
 
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