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Bac
- Thread starter bond_trad3r
- Start date
Quote from Sandybestdog:
0% to start. Then when you use it and have a balance you canât pay off right away, theyâll jack it up to 25% even though you have perfect payment history.
Always keep enough cash to zero out you credit card balances when they pull that crap.
They have tried it on me and I just zero out the balance. Then they send me an offer for 1.99% for 18 months with checks to use how I want.
Always have cash on hand.
Quote from Sandybestdog:
Credit score is about 670, perfect payment and account history on all accounts.
Pay it off with what? Iâm not a bank, I canât xerox money or get a bailout. Of course I should have paid it off instead of closing it. I used the credit, but never thought theyâd jack the rate to 25% for no reason. For 2 years most of the payments have gone to interest. Iâll never be able to pay them off at the rate Iâm going.
Google this. I am not the only one. Many people are dealing with this same problem. It's capitalism and free markets gone wild.
It's so wrong, they can't survive with out our deposits, now they need our tax dollars.
And what do we get more fees and higher rates, I blame congress, they are the biggest bunch of whores.
Quote from DataCruncher:
damn. how much lower can this get? I really want to buy a huge chunk and throw it in my IRA. But something keeps nagging me. What is the appropriate P/E for this company? I thought Ken Lewis was Mr. Cautious, but only 48 hours of due diligence on MER?
As I recall he relied on JC Flowers' research on MER......did JC Flowers drop the ball? i thought they were reputable
I'm not trying to point fingers here, as obviously this is a very complex situation, but ........damn
Price is all that matters, price is saying this outfit is in big trouble. Don't listen to anything mgmt says, remember, BCS,LEH,FRE,FNM. They all said everything was OK even cock sucker Barney Frank said FRE,FMN were strong and in good shape.
Sit and wait for the trend to turn, don't buy because its down 20% this week. Stocks can go to ZERO.
Quote from Sandybestdog:
What company would that be? I got a credit card with Chase 5 years ago. 2 years ago they tripled my rate from 8-24%, even though I have perfect credit history on all of my accounts. 2 days ago they sent me another notice raising my rate again. 20% plus prime. Also, a month after they bought out WAMU, they doubled my rate on that card, so I closed the account to keep the current terms. This is legal theivery. Every single one of these companies needs to go out of business.
you're doing something wrong. My credit card rates have been slashed drastically this last year. From 15% to 8%
I learned that now. But I used the money for certain things and never thought they could do this to me if I had perfect payment history. Now I'm screwedQuote from Aaron Copland:
Always keep enough cash to zero out you credit card balances when they pull that crap.
They have tried it on me and I just zero out the balance. Then they send me an offer for 1.99% for 18 months with checks to use how I want.
Always have cash on hand.
Yea they print the money out of thin air and lend it to you, then jack the interest rate on you. Then when they get into trouble, the government bails them out with more of our money. They say itâs so the system doesnât collapse. Wouldnât it be good if a system like this collapsed?Quote from Aaron Copland:
It's so wrong, they can't survive with out our deposits, now they need our tax dollars.
And what do we get more fees and higher rates, I blame congress, they are the biggest bunch of whores.
Like what?Quote from matgallis:
you're doing something wrong. My credit card rates have been slashed drastically this last year. From 15% to 8%
You know what? I am doing something wrong. I have paid all of my bills on time for 6 years straight. Iâm exactly who they want. Somebody whoâs willing to pay 25% interest, month after month to maintain good credit. I bet if I stopped paying a few months, theyâd lower it.
Lower your balance and read the terms and conditions.Quote from Sandybestdog:
Like what?
You know what? I am doing something wrong. I have paid all of my bills on time for 6 years straight. I�m exactly who they want. Somebody who�s willing to pay 25% interest, month after month to maintain good credit. I bet if I stopped paying a few months, they�d lower it.
Well gee, Iâd love to pay down the balances, but itâs kind of hard when almost the entire minimum payment goes to interest. The terms pretty much state that they can change the terms whenever they want, for whatever reason they want. How was I supposed to know they were going to triple the rate when I had perfect history?Quote from matgallis:
Lower your balance and read the terms and conditions.
Imagine for a minute you get a mortgage. You qualify for it and follow the contract. 2 years later they send you a notice tripling you interest rate. You call them asking why and they say, âwell you owe money, so weâre going to jack up the interest rate.â This would never happen with a mortgage, but we accept it with credit cards and in fact blame the borrower for never being able to pay it off. I guess I learned my lesson now.