3% of balance charged for one day late

[nutmeg]

What I've seen in the last decade however is this *constant* push by stores, banks & others to get people to buy, buy, buy, using ''tricks" like zero interest, etc just to get people hooked on and spending/debt cycle that never ends or worse ends in bankruptcy because these predators messed up peoples minds of what they could afford.
-------------------------------

Imo, the big push on credit was the fact, profit for the retailer was in finance and not on the product sold.

 

[maxpi]

Quote from mxjones:

So you basically stole money? Congratulations, what a shining example.

No you dumbass, I got rate jacked and I told them to take the whole credit scene and shove it up their ass.

I was listening to a talk show today. Callers were calling in about credit card problems.. one guy had high balances but was making the payments. One of the card companies decided he owed too much so they lowered his headroom from $30,000 to $1000. That means he pays over the limit fees that are exhorbitant. So the other card companies heard about it and jacked up his rates and lowered his limits !! There comes a time where you tell them to shove it up their ass sideways...

Another one was taking over for his grandmother who went in a hospital and didn't pay her cards... she was late just one payment so they jacked her rates from single digit to over 30%, every one of them... he dealt with all of them but Citi would not budge.. they just told him to read the contract...

 

[risktaker]

Way to go maxpi. Screw the greedy bastards. Don't listen to the wieners telling you otherwise.

 

[cstfx]

Quote from pspr:

But when you rob a bank it doesn't go on your credit report for 7 years eliminating the possibility of doing the credit card theft again.

No it doesn't. You just get that pesky little felony conviction following you around for life. Screw getting credit, try getting a job.

 

[mxjones]

Quote from maxpi:

No you dumbass, I got rate jacked and I told them to take the whole credit scene and shove it up their ass.

I was listening to a talk show today. Callers were calling in about credit card problems.. one guy had high balances but was making the payments. One of the card companies decided he owed too much so they lowered his headroom from $30,000 to $1000. That means he pays over the limit fees that are exhorbitant. So the other card companies heard about it and jacked up his rates and lowered his limits !! There comes a time where you tell them to shove it up their ass sideways...

Another one was taking over for his grandmother who went in a hospital and didn't pay her cards... she was late just one payment so they jacked her rates from single digit to over 30%, every one of them... he dealt with all of them but Citi would not budge.. they just told him to read the contract...

You can justify it however you want, but you took money and refuse to pay it back. That means you stole. No amount of name calling towards me can change that.

You are part of the "blame everyone" else group. Regardless of how bad the credit card companies are, they are not responsible for your situation. It is not always someone else's fault. If you borrow the money, then make your payments on-time and pay it all back. If you can't do that, you will be penalized regardless of how fair or unfair you perceive it.

And if you choose not to pay the money back and tell the company to "screw off", you are a thief.

In today's society it is commonplace to duck personal responsibility and blame everyone but yourself. Many of the posters on this thread are textbook examples of that.

 

[ddaytrader]

The problem in this thread is that so many are talking at rather than to one another.

This is not black and white, though most are treating as such.

It is generally the case that one ought to make every effort to repay what one has borrowed. There are exceptional cases, however, when doing so threatens one's ability to provide the basic necessities of life. In those cases, we have bankruptcy laws to alow for a frsh financial start.

Also, while borrowing the money is the responsibility of the borrower, it is nonetheless the case that the banks and credit card companies are often themselves to blame for defaults due to unilaterally changing credit card agreements and imposing payment terms that make it possible ever to make headway against the debt unless the debtor receives a windfall lump sum from some source and is able to pay the debt in a one time, in full payment.

All in all, the credit card business is an ugly business, and until such time as consumers are protected from all such arbitrary unilateral changes to card holder agreements, credit cards should be avoided.

 

[NYC212]

screw the cc companies. I used to think not paying debt is immoral but to the cc companies, they can die in hell. (I would never stiff of a close friend, family member etc)

 

[TGregg]

Normally, I'd move this sort of rot to the trash bin. But I think I'll leave it up to give honest men a chill.

To them I'd say "Do not think these people have their best interests at heart."

 

[zx12]

You know what is ironic. These CC companies are the SAME banks that ripped off the american tax payers for billions of dollars, yet some people think let's hang the guy for not paying back 10k from the same bank that 'lost/stole' billions from the american taxpayers & the banks execs STILL get bonuses for doing it to us!! Only difference is what the banks did was DEFINATELY deliberate. It is just amazing what a good lobbyist can do! But back to the original thread topic, it is disgusting that a bank is allowed to do that!

 

[MattF]

Exactly whose money are you borrowing anyway...after all all you did was sign a piece of paper and voila! Money created out of thin air on another piece of paper for you to use!

Hey I've been in default for quite some time now..same thing, miss one payment by a day and bam! 28 or whatever percent it was...

I just know I'll end up settling in the end for ~ .50-.60. Which is still a loss for them and a win for me. Gets reported right (of course one makes sure of it) when such happens, clean it up later, buy new lines, score goes back up, all is well again.

Even still, I'd be one in the minority on that..most people don't know any better and just try to pay minimums or whatever they can "come up with..." which will never put a dent in things. There's too many out there now for the companies to go after realistically to force to pay.