Holy mackeral! Credit Card bending me over

[spidey07]

Got something in the mail from a card I've had a few years.

"amendments to your agreement"
Raising rate to 30%
no grace period on purchases
5% charge for all international purchases
late fee changed to $75
Can change rate at anytime without notice

And its a platinum visa.

Getting on the horn now ready to tell them to shove the card where it doesn't shine. Just gotta pay it off real quick. I can see the conversation now.

"sir you have quite a balance with us"
spidey - "do you want eletronic transfer, personal check or money order so that I can pay in full?"

I love the part about "you can reject this change in writting, but if you do we can close your account at anytime without notice"
:|

 

[Mo0o]

Holy cow 30%

 

[FoBoT]

yeah, they suck

just pay it off and get a different card with another company. not that they won't bend you over too, all the CC companies do that kind of stuff. one payment 2 days late? jack your rate to 30%, they all suck

 

[Baked]

/me loves to hear people who complain about how CC companies rape them in the ass w/ pineapple when they only pay the minimum each month. Here's an idea, don't buy shed you can't afford and don't carry a balance.

 

[spidey07]

I checked the last 12 payments, all on time.

 

[FoBoT]

he said he can pay it off dude

 

[slycat]

what bank?

 

[KLin]

Which company is this so I can avoid them in the future?

 

[Yossarian]

no grace period? SUCK IT!!!

 

[Cal166]

Yea, i got something in the mail the other day about one of my credit cards, they are raising my APR up to like 19%. Am like WTF?!?! I pay off my bill all the time. But 30% is outragous

 

[spidey07]

Originally posted by: Baked
/me loves to hear people who complain about how CC companies rape them in the ass w/ pineapple when they only pay the minimum each month. Here's an idea, don't buy shed you can't afford and don't carry a balance.

hey smarty pants I had to make a lot of charges this month due to changes in finances and some business travel.

 

[Kadarin]

The credit card companies are all evil to a degree that Micro$oft can only dream of.

 

[pulse8]

Can anyone explain to me the purpose of having a credit card and not carrying some kind of balance? Why not just pay it in cash?

I can understand it if you're getting rewards like frequent flyer miles or something. Otherwise, if you have the cash to pay it off at the end of the month, why not just buy it in cash to begin with?

 

[spidey07]

Originally posted by: KLin
Which company is this so I can avoid them in the future?

MBNA

 

[spidey07]

Originally posted by: pulse8
Can anyone explain to me the purpose of having a credit card and not carrying some kind of balance? Why not just pay it in cash?

I can understand it if you're getting rewards like frequent flyer miles or something. Otherwise, if you have the cash to pay it off at the end of the month, why not just buy it in cash to begin with?

rewards, theft fraudulent charge protection, perks like auto-insurance on rentals, grace period

I don't know about you but i don't like making thousand dollar purchases with cash.

 

[RU482]

double whammy...first they get teh bankruptcy bill passed, now the run up fees

 

[imported_FishTaco]

You might want to check your credit report, maybe someone stole your identity and is ruining your credit. MBNA might just be responding to a rapidly declining credit rating.

 

[Yossarian]

Originally posted by: pulse8
Can anyone explain to me the purpose of having a credit card and not carrying some kind of balance? Why not just pay it in cash?

I can understand it if you're getting rewards like frequent flyer miles or something. Otherwise, if you have the cash to pay it off at the end of the month, why not just buy it in cash to begin with?

why use credit?

so you don't have to carry cash around with you. so you have a record of everything you bought without having to keep receipts. so you can automatically download transactions into Money or Quicken. so you can build credit. and of course so you can get 5% cash back from citi platinum dividends

 

[pulse8]

Originally posted by: Yossarian

Originally posted by: pulse8
Can anyone explain to me the purpose of having a credit card and not carrying some kind of balance? Why not just pay it in cash?

I can understand it if you're getting rewards like frequent flyer miles or something. Otherwise, if you have the cash to pay it off at the end of the month, why not just buy it in cash to begin with?

why use credit?

so you don't have to carry cash around with you. so you have a record of everything you bought without having to keep receipts. so you can automatically download transactions into Money or Quicken. so you can build credit. and of course so you can get 5% cash back from citi platinum dividends

Building credit and the 5% cash back are the only two advantages over using a check card.

 

[KarenMarie]

find one of those 0.0% interest for 18 months and transfer the balance.

We just did that with abank of NY card that changed their policies. Now, they get nothing.

 

[Descartes]

Originally posted by: spidey07

Originally posted by: KLin
Which company is this so I can avoid them in the future?

MBNA

WTH? That doesn't make sense. MBNA is a solid CC company and known for being one of the best.

Seriously, how many times have you late and/or gone over your limit? That doesn't make any sense.

 

[spidey07]

Originally posted by: pulse8

Originally posted by: Yossarian

Originally posted by: pulse8
Can anyone explain to me the purpose of having a credit card and not carrying some kind of balance? Why not just pay it in cash?

I can understand it if you're getting rewards like frequent flyer miles or something. Otherwise, if you have the cash to pay it off at the end of the month, why not just buy it in cash to begin with?

why use credit?

so you don't have to carry cash around with you. so you have a record of everything you bought without having to keep receipts. so you can automatically download transactions into Money or Quicken. so you can build credit. and of course so you can get 5% cash back from citi platinum dividends

Building credit and the 5% cash back are the only two advantages over using a check card.

fradulent charges? Insurance on rental car? Purchasing with something that isn't directly linked to checking? Earning interest during grace period?

all reasons to use a credit card.

 

[halik]

Originally posted by: spidey07
Got something in the mail from a card I've had a few years.

"amendments to your agreement"
Raising rate to 30%
no grace period on purchases
5% charge for all international purchases
late fee changed to $75
Can change rate at anytime without notice

And its a platinum visa.

Getting on the horn now ready to tell them to shove the card where it doesn't shine. Just gotta pay it off real quick. I can see the conversation now.

"sir you have quite a balance with us"
spidey - "do you want eletronic transfer, personal check or money order so that I can pay in full?"

I love the part about "you can reject this change in writting, but if you do we can close your account at anytime without notice"
:|

30% what a joke... do you actually owe money on it?

 

That sucks, drop em like they're hot.

 

[spidey07]

Originally posted by: Descartes

Originally posted by: spidey07

Originally posted by: KLin
Which company is this so I can avoid them in the future?

MBNA

WTH? That doesn't make sense. MBNA is a solid CC company and known for being one of the best.

Seriously, how many times have you late and/or gone over your limit? That doesn't make any sense.

something is not right, as I checked I've paid on time for the last 12 months and i'm never late nor anywhere near the 20,000 limit.