I have never missed a payment, never overdrawn. This months bill just came in and they jacked the apr to 31.24%. I mean WTF is that? They will not even discuss it. I think I will max it tomorrow and file chapter 7 on them Monday. Grrrr, bastards. Anyone else having trouble with greedy bastards like this.
2006-09-15 14:06:54 · 12 answers · asked by utahraptor88 2 in Business & Finance ➔ Credit
Too small an issue for chapter 7, but long term, position yourself with 3 or 4 better companies. This company probably gave you an "introductory rate" but the real introduction comes later as you see. I've been with AmXp over 30 years, never treated me anyway but right, also recently got a low limit card with Capital One for special purposes. They seem OK.
If you have a good credit history, AmXp Blue, Capital One, many others too, will take your balance and issue you a card. Try that and put the other people behind you, in a way positive for you. Bankruptcy is a serious 14 year thing, +++ can't see that as positive for you. You could even roll the debt into a car loan with good credit, get a dealer incentive use it for a near 0 % loan.
2006-09-15 14:22:35 · answer #1 · answered by The Advocate 4 · 0⤊ 1⤋
I know just how you feel. They just keep squeezing us until we can hardly pay this any more. What they DON'T want is for you to pay it off, then they lose their income.
If you can pay that sucker off ASAP, do that. But filing Chapter 7, or even Chapter 13, would hurt you more than them.
What WE did is, we went to Consumer Credit Counseling. You have to be careful where you go, because some of them will take your money and then not pay your bills for awhile. But the ones that are government funded will help you out.
They charge a small monthly fee, about $30 (about the same as late charge on a credit card bill). and they have an arrangement with all the major cards, so they WILL get your interest rate lowered. They pay your bills for you each month, and you have to be sure and pay them monthly.
Make this a WIN-WIN situation. Don't make any loser type moves. Just my opinion.
2006-09-15 14:19:29 · answer #2 · answered by mia2kl2002 7 · 0⤊ 0⤋
The CC companies are definitely greedy. They will raise interest for a number of reasons: a review of your credit profile (how are you using your credit with others; have you recently gotten new credit that they think might affect your ability to pay them, etc...); your balance, and the amount you pay each month (just barely over the minimum or the minimum?). Be mean to them, sure...they twist people's arms all the time once they get you into a contract (card). Just make sure it's worth it. LOL.
2006-09-15 14:11:07 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Apply for a new credit card offering 0% interest for a year. When you get that card, transfer your cards balance to the new one. When you call to have your old card shut off, they will kiss your butt big time. They'll drop your percentage rate pretty low at that time, but low enough to keep around for emergency use? Only you know the answer to that. My card company probably hates me, I pay it off every month and pretty much use them for free banking, to go on vacation, or shop through the mail. And then they don't get any interest off of me. Ha Ha!
2006-09-15 14:27:30 · answer #4 · answered by Nemesis 5 · 2⤊ 0⤋
If you have good credit, shop around for lower rate, if not bite the bullet until you pay off your balance, because if get mean with them and fall behind on paying your payments there late payment and over charge is very much, use you judgment.
2006-09-15 14:23:23 · answer #5 · answered by Anonymous · 1⤊ 0⤋
Time for a balance transfer and to cancel the card.
Can't file bankruptcy on credit cards anymore, btw.
2006-09-15 14:15:15 · answer #6 · answered by K W 2 · 1⤊ 0⤋
I would tell their asses off,and then trasfer my balance to a lower rate card,and then close the account of the bastards that up your apr
2006-09-15 14:12:56 · answer #7 · answered by silly_girl 3 · 0⤊ 0⤋
call them up and ask for a better rate or go to the local credit bureau and ask them to interceed they have a new plan all cards can double your interest rates for you being late paying a regular bill like the power or rent it doesnt help to establish credit but they can use it to ruin yours with the credit co's
2006-09-15 15:01:36 · answer #8 · answered by Anonymous · 0⤊ 0⤋
You can rant and rave all you want, but you'd only be hurting yourself by declaring bankruptcy. I agree with the person that said to transfer your balance and not deal with that company any more...that's what will get them the most, taking away that 31%!!!
2006-09-15 14:15:53 · answer #9 · answered by Anonymous 4 · 0⤊ 0⤋
They simply want you to go away. So go away. don't ruin you credit report for revenge. In the end you'll be the one paying.
Get another acct. at another bank. Move everything there. They will notice when you leave. Wave good by on your way out the door.
2006-09-15 15:14:38 · answer #10 · answered by john d 3 · 1⤊ 0⤋