You betcha. Discover - 29.99% - Chase-22.99% - f##kers

[fumsm]

Just received an email from Discover, due to economy, raising interest rates to 29.99%, AND moving up my pay date. Got one from Chase last week, going from 4% to 22.9%. Have had both cards for 15-20 years, maybe more. Have ALWAYS paid balance in full every month. These fuckers need to go down. Winy republican cocksuckers.

[Raskolnik]

1. Well, yeah. Why are people surprised this is happening?

Every lender is having to clean up their books and reign in their credit exposure. The "credit crunch" wasn't just some hypothetical occurrence.

[MissB]

4. I think people are just shocked it is happening to *them*.

We've all heard the news reports that credit card companies are pulling back credit. I think people just assume that it will only happen to those that have other credit issues (late or no payments) and not them since they have excellent credit.

[DJ13]

5. Why are people surprised this is happening?

Because their tax money is keeping those crooked banks alive?

Just a hunch.......

[fumsm]

6. Ok,

So were the fuck is the bailout money going? Didn't they threaten to collapse the economy if they didn't get it, now their back for more, and f##king us up the poop-shoot along the way. I say "let em fail" Fuckem.........

[Raskolnik]

8. While you do make an eloquent point, I'm not sure the "poop-shoot" point will carry the day.

I'm not defending the behavior that put banks and lenders in this position, but the remedies to fix the problems are not just hypothetical, and they don't end with the bailout.

[fumsm]

15. I know,

Please accept my apology. My eloquence tank is empty. This stuff is really starting to piss me off.

[CoffeeCat]

2. You're doing business with loan sharks...

...who have hundreds of people in board rooms--who are specifically paid to find hundreds of
ways to fuck you over and take your money from you.

Tell these vipers to take a hike...

[CountAllVotes]

3. I had $16.00+ cashback coming

I checked my acct. online and it was now only $1.60. :wtf:

I'll keep the stupid card but I'm not using it anymore. I too pay it off in full every month and have had an acct. w/them for at least 20+ years!

On edit: as for the now $1.60 cashback - they can shove that where the sun don't shine no 'mo!!!!!!!

:grr:

:kick:

[SoCalNative]

7. If you always pay the balance in full every month

then why do you care WHAT the interest rate is they're charging? It's not as if it affects you in any way.

[ComtesseDeSpair]

13. If you could pay the balance in full every month...

why would you need a credit card?

[SoCalNative]

14. I'm simply asking the OP

why it matters since he says he pays the balance in full every month.

[fumsm]

16. They are not just raising the rate.

There moving the dates, changing the way they charge, daily now, only 25 days between billings, and more. I got tired of reading the small print. Just a matter of time until we miss one.

[CountAllVotes]

19. I caught American Express doing that to me

thanks for the reminder. I think I have two cards to close out ASAP!

Why should WE enable THEM?

:kick:

[question everything]

22. Don't close the accounts!

Just pay them off and put the cards in the drawer. Closing them will hurt your FICO score since the ratio of available credit to debt will drop and you will lose the long term cards that you've had.

We just applied to two new cards that offer 0% for the first year, one even for balance transfer, and then 6.99 or 8.99. I am using the balance transfer to pay all of CITI and CHASE and am not going to use them.

Two and a half years ago Chase offered a 3.99% for the life of the loan and I had a credit limit of more than $20K, so I used them to pay off Home Equity Line of Credit where the assholes were robbing us. It was nice while it lasted. Was better even when we lost the tax advantage of home equity line of credit. But now Chase wants at least 5% min payment, plus it added a $10 "service charge" which brings the 3.99 to 5% and higher as the balance is being paid off.

I opened a new card with 3.99% and am paying off Chase. But am not closing the accounts. Hey, I, too, can play their game.

[CountAllVotes]

23. very briefly I had a Chase card

it was supposed to give me 25% off (or something like that) on my first purchase with amazon.com. I never got that 25% cash back and simply paid the card off ASAP. I then closed said card.

It really pissed me off! SCAM ARTISTS!!

I have not bought a single thing from amazon.com either btw.

I'll leave the cards open and just not use them. Your right, both can play this ugly game I guess.

:kick:

[thereismore]

21. So true, so true. It is inevitable. nt

[Sherman A1]

18. Perhaps,

Convenience?

It's not always about trying to live beyond your means. I think a credit card is just a simpler way to transact business.

Does it work for everyone.. No, but it does for some.

[uppityperson]

9. I got one of those notices, reading small print it was only if I was late on 3 payments in 12 months

I called them to double check and my regular visa % was the same, just if I was late for 3 months. They moved my due date back also when I asked. But that is Visa, not discover. Check the small print and call them every couple months to get interest dropped.

It still sucks for people who don't know they can do that.

[ejpoeta]

10. at least you saw that. they are probably counting on folks not looking

and then their payment is late and oops.... cha ching on the late fees.

[BOSSHOG]

11. 5.75% with USAA Credit Card

no muss, no fuss, no need for a stimulus, just great customer service.

[SoCalDem]

12. Look.. here's the deal.. They have read the handwriting on the wall

and they know they are "going down"..BUT the deal they cut with the government will depend on their balance sheet, so it makes perfect sense to me for them to INFLATE the money DUE them, by as much as possible in the waning months of their "credit card model"..

the sad part is that THEY will weasel out from under their "accounts receivable" shortfall AT your expense, because that debt will remain on YOUR balance sheet..

The credit card "industry" is DONE..OVER..KAPUT..DEFUNCT..

There will be a great "sorting out", and eventually it will probably go back to the way it used to be,..back when people were thinking normally..

people with good credit, will get credit cards back, and the ones with sketchy credit, will find themselves having to use cash, debit cards, or the National Bank of Mom & Dad..

The ones who get (or keep) cards will see a more realistic limit too..and I also foresee some coordination between banks, so people don't build up a stock of several Visas/Mastercards like they have now..

[MadHound]

17. Well then, stop whining, stop taking the bullshit, pay off your debt, cut up your cards

And live a much simpler, stress free life.

[thereismore]

20. Killing the goose that lays golden eggs. Soon people will figure out that banks no longer

expect people to make payments. Why else raise APR's?