Dear Valued Credit Card Customer;

[Vette73]

lots of people dont NEED them but its easier to use them over a check (hell some places wont take a personal check) and safer then paying cash or using a debit card

and they also have perks like airline miles, cash back and extended warranty - ive never carried a balance and i use mine for the reasons stated above

ordering things online with a debit card is a bad idea, CC is the only other option

Problem is if you need to rent a car or hotel room you have to have a CC or let them put a $500 hold on a debit card (maybe more/less but $500 is what some use).

 

[highland145]

I have very little credit. My credit card has no fees and they keep increasing my limit to astronomical amounts.

What am I doing right?

PM me your card number and the security code. I'll find out.

 

[alkemyst]

I don't use checks either except for Rent payment or large purchases like my car.

Those perks come with some small print that makes them less perky than they sound.

Never had a problem ordering stuff online with my debit card, although I don't see a problem as Bank of America protects 100% of the money in my account. When a waitress stole my CC number and used it to buy 16k worth of stuff, Bank of America paid it all back to the penny.

Right paid it back but almost every time this really happens your money is on hold for quite a few days and even then usually only part of it is given back until they figure out what happened.

My wife just went through this with her debit and about 40 other workers at her mall getting skimmed.

For us it wasn't a big deal to have $500 on hold for a couple weeks, however; most of the chicks at the mall were financially fucked and bounced tons of things plus had no way to pay for things like rent and their cars.

It's been about a month now and most are still waiting to get their money back and not have to fight to get over limit fees refunded.

She is now using her credit card only and paying it off each time she uses it.

 

[fire400]

My CC website shows the US flag waving in the background. Why do you hate America?

Lol... bumper sticker moment!

 

[Vette73]

PM me your card number and the security code. I'll find out.

Don't do it Leros; he is not a lifer. Send me your CC and security code. I am a lifer at AT, so you can trust me.

 

[SunnyD]

Best part is, the letter says I can opt out, and in doing so my account will be closed. Standard fare, I know... but here's the kicker: I'm in the process of buying a house, so closing my account would mean a hit on my credit, which would potentially affect my mortgage-to-be.

Damned if I do, damned if I don't.

 

[Vette73]

Best part is, the letter says I can opt out, and in doing so my account will be closed. Standard fare, I know... but here's the kicker: I'm in the process of buying a house, so closing my account would mean a hit on my credit, which would potentially affect my mortgage-to-be.

Damned if I do, damned if I don't.

Check again. Most say they will close the account when it expires. Citi tried this way back when. So I opt'd out and they still gave me another card when the date came.

I always opt out. Have over 800 credit score and only have 2 CC's now.

 

[IceBergSLiM]

Been paying one card down(more than minimum) steadily and on time for over a year.

They closed the credit line in July. So I pay it off and its gone.

 

[waggy]

lol reallly you guys think that bush or obama really has any effect on this? i does not matter what party is in power it would have happened.

 

[dainthomas]

Obama is the current President of the United States. Bush is not. Slightly different.

So whenever you talk about Obama after he leaves office, we can say "B-B-B-B-But OBAMA"?

Besides, the statement wasn't about Bush. It was about the CC companies that bought a law from Congress, and justified it by lying that it would save most people money. Which of course it didn't. But that doesn't stop suckers from lapping up their excuses. You think if that law disappeared tomorrow your rates/fees would go down? ROFL!

 

[Greenman]

Yep. That's who OP should have his rage at. The CC's were forced by rule of law to shift their profit to him and people that pay their bills on time.

I was late once, rate went from 9% to 29%. Chase went on my list of company's I'll never do business with.

 

[Alone]

Do you have a lot of bounced checks or do you go over your limit often?

Not even once for either.

When was the last time you needed a copy of your statement that you couldn't pull online?

I've never requested a statement. Ever.

 

[Numenorean]

Why do you have a card with an annual fee? Seems stupid.

 

[Anubis]

Problem is if you need to rent a car or hotel room you have to have a CC or let them put a $500 hold on a debit card (maybe more/less but $500 is what some use).

yea that supports my post as well,

 

[SunnyD]

Check again. Most say they will close the account when it expires. Citi tried this way back when. So I opt'd out and they still gave me another card when the date came.

I always opt out. Have over 800 credit score and only have 2 CC's now.

Nope. Says if I opt out the account will be closed immediately.

 

[JEDI]

This is because of the "consumer protection" laws passed by congress that removed the ability of CCs to punish irresponsible people with fees, interest, etc.

So where else were they going to turn to get their money? Yep, that's right, you and me and every other responsible person.

i pay my bills on time. i dont get hit w/any fees.
they could charge 50% interest monthly and i wuldnt care.

 

[ShawnD1]

Why do you have a card with an annual fee? Seems stupid.

I don't even see the point. I've had the same Visa since college and it has never had a fee. While I was a student a second time with no job, they increased my credit from 1000 to 2000 then up to 5000.

 

[StrangerGuy]

Debit card FTW?

 

[moshquerade]

Debit card FTW?

no cash back with debit card

 

[SunnyD]

Why do you have a card with an annual fee? Seems stupid.

Why do you bother posting? Seems stupid.

 

[Engineer]

Go to a credit union like Pentagon Federal. They just raised my limit from $10,000 to $50,000 and I didn't ask them for anything. Big banks suck ass.

 

[Engineer]

no cash back with debit card

Are debit cards limited liability if they are stolen? I am more worried about this than cash back (even though I used cash back cards 100% of the time).

 

[MagnusTheBrewer]

I love all the people who blame the government for the actions of credit card companies. Because ANYTHING'S fair in the pursuit of a buck as long as it's legal or, I don't get caught, right?

 

[Suspicious-Teach8788]

Are debit cards limited liability if they are stolen? I am more worried about this than cash back (even though I used cash back cards 100% of the time).

Usually they're covered by VISA/MC's fraud policies.

However the problem is if someone steals your debit card and swipes it for $5k, your account goes into the red. Sure you'll get it back, but what if you needed cash tonight? Then what do you do? What if you're traveling?

On a credit card, you have all month to figure it out... or til whenever your statement closes PLUS until the bill is actually due. So, yeah you get screwed, but you're not really screwed unless you don't take care of it.

Why do you bother posting? Seems stupid.

Why not just tell us what card you have that is worth having w/ an annual fee. If it's the AMEX Black, props to you... otherwise, not many cards are worth it IMO. Paying an annual fee is almost as dumb as not being able to pay off your monthly bill fully and having to deal with APR.

 

[spidey07]

I love all the people who blame the government for the actions of credit card companies. Because ANYTHING'S fair in the pursuit of a buck as long as it's legal or, I don't get caught, right?

Well when you make certain revenue illegal then of course business is going to find a way to get their money. Anybody that paid attention to this issue knew it was predicted rates would rise as well as fees. Notice how the balance transfer fee went up 25-40%? Foreign currency fees? Annual fees? Inactivity fee? They WILL find a way to make money, that's the purpose of business, to make money.

It's known fact that the CARD act directly caused these increases on responsible card holders, and decreased fees on irresponsible ones (over balance, late, carry high interest rate cash advances, etc. There really isn't any debating it.