More Credit Card Company BS...

[chiller2484]

We have a Dillards card that we are working hard to pay off. It started with a $1250 limit (back before the economy tanked). We (meaning my wife) maxed it out and then the whole credit crunch happened. We paid down to about $850, and they dropped our limit to $860. WTF? Well, we kept making our payments on time and everything. Got the balance down to $537 as of last week, and we get a letter in the mail today saying they've dropped our limit to $540.

We have 3 credit cards left to pay off and then we'll have none. Been trying to pay $100 weekly on each card.







inb4 credit cards are bad
inb4 only buy with cash

[JHayesLS1]

Yep thats what they do now. They might cap you off at $300 now. That seems to be the norm among my friends that have a dillards card. Just sucks because the lower your limit the more debt to available credit ratio you have. Pay it off and never worry again.

[chiller2484]

the ratio is what we've been really trying to bring down, and we were almost at 40%. now we're back up to about 100%. sonofabitch

[SiggyZ]

Credit cards are da debble.

[86 IROC-Z]

Why not pay it off in full each month when the bill is due. Don't spend money you don't have.

[Brian H Drifer]

Why not pay it off in full each month when the bill is due. Don't spend money you don't have.

Because you need to be 1000's in debt to be american

[snaggeltooth]

Hey at least you are only 25 and have learned the truth.. Many people older than you never will..

INB4 the Debit cards rule ....lol

[86 IROC-Z]

Because you need to be 1000's in debt to be american

oh yeah, forgot

[96z28]

yeah credit cards have been doing that since the economy went to shit. I maxed out my 1500 credit card and when i paid 600 of it they brought my limit down to 1000. Hopefully that doesnt happen to my platinum

[bluehawk2000]

learned real quick like when I got a credit card when I was 18, put 300 out of the 500 max payed it off and cancelled it.

[transamprincess98]

Not all credit card companies are doing this. I know for me personally I have received letters from both my CC companies that they have doubled my spending limit.....

[Smkn_TA]

My spending limit keeps going up as well, it seems like it is caught on the interest though because it pulls it up with it.

[chiller2484]

Credit cards are da debble.

Yeah, I know.

Why not pay it off in full each month when the bill is due. Don't spend money you don't have.

Yeah that's our new motto. I'm only going to keep 2 credit cards after we get all of them paid off - for emergencies only - or maybe gas/dinner or something we can pay off each month to keep credit score decent.

Our problem was that we racked up too much credit debt too quickly, and didn't have enough incoming funds to pay them all off at once.

[chiller2484]

Not all credit card companies are doing this. I know for me personally I have received letters from both my CC companies that they have doubled my spending limit.....

Well, it's only happened with my Dillards card and Old Navy card - both of which are owned by GE Money Bank.

I've gotten rid of all credit cards that don't have a Visa/MC logo on them. I think I'm going to keep my Capital One card and the MC with the largest limit. My debit/bank card is Visa but linked directly to my checking account, and I use it the most.

[99'CajunFirehawk157]

Citi sent us a letter about 6 months ago, since we were a long time Diamond Rewards Citi card holder @ 5.99% APR, since we only have 1 credit card, we carry about a $5k balance and pay about $500 a month as we have done for the last few years or so. Our credit score is around 780 or so and Citi was kind enough after we the people bailed them out to raise our APR to 25.99% APR, but I should consider myself lucky cause most got the 29.99% APR, WTF!
Needless to say we will not be a CITI customer much longer.

[JonB]

Citi sent us a letter about 6 months ago, since we were a long time Diamond Rewards Citi card holder @ 5.99% APR, since we only have 1 credit card, we carry about a $5k balance and pay about $500 a month as we have done for the last few years or so. Our credit score is around 780 or so and Citi was kind enough after we the people bailed them out to raise our APR to 25.99% APR, but I should consider myself lucky cause most got the 29.99% APR, WTF!
Needless to say we will not be a CITI customer much longer.

That is just rediculous, it not the first time I've heard of it happening to people but it just pisses me off every time someone brings it up. It should be against the law PERIOD for CC companies to do that. Mine went up to 14.99% on my $1,000 limit credit union CC. Not sure when it happened never really pay much attention to it as I don't really use it all that much. Never really lived off my CC only buy what I can afford. Only reason I have a CC was to help build my credit.

[99'CajunFirehawk157]

That is just rediculous, it not the first time I've heard of it happening to people but it just pisses me off every time someone brings it up. It should be against the law PERIOD for CC companies to do that. Mine went up to 14.99% on my $1,000 limit credit union CC. Not sure when it happened never really pay much attention to it as I don't really use it all that much. Never really lived off my CC only buy what I can afford. Only reason I have a CC was to help build my credit.

They have to get all they can get before Feb 2010 thats when the new cc regs kick in so its gouge the consumer now...phuckers!

[LS1WS6]

They have to get all they can get before Feb 2010 thats when the new cc regs kick in so its gouge the consumer now...phuckers!

you can opt out of the new intrest rate change and keep your old intrest rate only thing is you cant use your card to buy anything from that point forward. if you do buy anything you will be accepting the new terms and your intrest rate will change. I say opt out of the new terms and pay it off under the old intrest rate, shop for a new card. I did this with one of mine that was 12% that they wanted to change to 22% and i got a crap ton on it.

On a side note over the summer i opened a pc richards card to buy a netbook which the card had a 0% for 3 months then 22% after with no accured intrest. Was fine with me since i only put 350 bucks on it and was paying 50 a month towards it. After the three months past they sent me a letter saying that they reviewed my account and my intrest rate will now be 27% after jan. Im like these dickheads as if 22% wasnt bad enough, luckly i only got 50 on it so fugg it pay it off and dont use it..
ps the pc richards card is given out by ge money

[LS1WS6]

if you haven't seen this one yet, you will all love it

http://www.washingtontimes.com/news/...interest-rate/

[Mr. Luos]

Because you need to be 1000's in debt to be american

Oh good...I am American.