I called credit card co because I couldnt give pymnt on time.plus when I saw statement they had raised my APR because they said I had been late once before!..NOTE: I have had this card for 21 years and had been giving my payments on time...until now...I was surfing the net and found out alot of cr card companies are doing the same. ..but the govt is already going to pressure them to stop charging too much interest! They said they could "freeze" my cr card acct. where my interest would stop accruing? Anybody heard about this?
2007-03-07 14:17:18 · 4 answers · asked by Sam C 1 in Business & Finance ➔ Credit
I've never heard of a freeze on interest accruing...Seems like that would be against what they are all about, which is MESSING with the American consumer. They find any crazy little excuse to jack up the APR.
What you should do is threaten them that you are going to surf your balance to another card and close the account if they don't drop the rate right away. Much of the time, they will just drop it back.
2007-03-07 14:22:53 · answer #1 · answered by Brad L 4 · 0⤊ 0⤋
The freeze on your account that they are talking about isn't to stop interest from accruing, it would be a freeze to stop you from using the card.
The interest will continue to accrue until the balance is paid.
If you can, you might think about balance transferring the amount you owe on that card to a different card with either a low interest or 0% interest.
If you do that, I wouldn't recommend closing the card you have had for 21 years, you wouldn't be hurting them by closing it but you would be hurting your credit.
Throw it into a drawer and pull it out once a year to buy something very cheap and then pay in full. Do that until they drop your interest back down.
2007-03-07 23:12:15 · answer #2 · answered by echo 7 · 0⤊ 0⤋
Forget the credit card. They have toasted you, now it's your turn to toast them. Take the credit card and go online to www.usmint.gov at your local library or anyplace you can get on to a public computer and buy all the silver coins you can get up to the max limit on your card. Bury the coins in your back yard and then send a letter to the credit card company saying the card had been stolen.
2007-03-07 22:22:17 · answer #3 · answered by Anonymous · 0⤊ 2⤋
no i haven't herd of that but they can lower your interest to a very low as a hard ship Call your churches and ask them if they can help you tell them you are having finance problems they will help or talk to you minister see what he says They should wave the fee for you because you are a very good customer
2007-03-07 22:25:00 · answer #4 · answered by kitty 6 · 0⤊ 0⤋