Fellow DUers: Won't you chuckle with me over my credit card statement?

[Chipper Chat]

I had not used my Chase (formerly WAMU, formerly Providian) credit card in 3 years. I ate at a Bob Evans today and used it just to keep it active.
So,in 2007 my APR was 9.99%. Oh gee, look at it now! How long before people just stop using credit cards altogether thereby fucking the industry who self-induced their own demise?

Copied & pasted from my Chase online statement:

Outstanding Balance $0.00

Pending Charges $14.51

Total Credit Limit $2,400.00

Available Credit $2,385.00

Last Statement Date 06/11/2009

Next Closing Date 03/11/2010

Balance Last Statement $0.00


APR
As Of 06/12/2009

Purchase APR 28.24% !!!!!!!!!!!!!!!!!!!!!!! (exclamation points mine)

Cash APR 28.24%

[Christa]

1. WTF?

Why do you have pending charges?

:grr:

Edited to add:

:grr: @ the interest rate!!!!!!

[Chipper Chat]

3. It's the Bob Evans charge today.

If you go there a word of warning: don't order the chicken-broccoli alfredo

[TwixVoy]

2. SO the question remains....

Why are you not closing the card before you get caught in that trap?

[Chipper Chat]

4. I don't use this card.

I think it's better to NOT close a credit card you've had for years. I just used it to create some activity on it. I have no intention to go the "minimum payment" route - a real trap these days.

[depakid]

5. You can thank all those Democrats who voted to make sure people didn't pay usurious interest rates..

[pipi_k]

6. Trying to figure out their "logic" on this

And the only thing I can come up with is that they might have figured that you didn't use the card since 2007 because you felt you couldn't afford to.

In their minds, that would probably "alert" them to the mistaken impression that you might be having credit problems...in which case it's their "duty" to raise your interest rate.

Because, you know...it's the people who can't afford it who SHOULD be paying the higher interest rates. :sarcasm:


They are seriously fucked up.



I have a Chase card too. My credit limit isn't as high as yours, but I do use it every month and pay it off in total each month. I'm just waiting for them to raise my interest rate...that's when I'll use it for the last time.

Because, like you said above...closing a credit card can actually work against you.


those bastards!!!!

:nuke:

[dixiegrrrrl]

8. Citibank sent us a double whammy in our statements.

Mr. D and I both have our own Citi cards, we pay off our balances end of month.
Had the things for over 10 years or more.

Here is what Citi now says:

1. Interest rates are 28.9 %.
And
2. Like Chase, they reserve the right to demand instant payment of any unpaid balance if we "default" on payment to any other creditor.

I am waiting for the publicized 60.00 annual fee for not running up a total of 2500.00 a year in charges.

Then we close the accounts.

[pipi_k]

9. Yeah, that's the other thing...

if they impose an annual fee for not using "enough" of my available credit...to hell with them.

They probably hate me already for not using at least 1/2 of my available credit and not carrying a month-to-month balance because that's how they make their money, but...pffffftttt...

[Chipper Chat]

7. MODS: Sorry this is a dup post.

I received an error message that this original post did not complete and reposted it.