Posted on 02/10/2008 5:20:35 AM PST by grey_whiskers
Unsecured is the key word. All of those credit cards are unsecured and there is nothing they can do to recover the debt from those people. Instead, they up your interest rate because you are a good person and pay on time, therefore you are paying for the debt others are not paying back.
I recall they were all doing something similar a few years ago to people who kept their cards paid off, adding fees and canceling cards because they weren’t collecting interest on cards that staid paid off. It didn’t last. I have paid $13 in interest over 5 years.
“Somebody has to pay for that Charlotte monument to excess”
Since 9/11, it is interesting that financial companies continue to build and occupy skyscrapers.
Rick Rescorla was head of security at Morgan Stanley/ Dean Witter. He predicted skyscrapers would be terrorist targets.
Advised that the company spread out into low lying buildings. Amazing guy.
http://www.rickrescorla.com/
Yes it is.
BoA knows where I live and where I will stay, not like the illegal(s) who regularly skip's on $10-20K, or higher. They appear with new names and 'IDs' like we change socks.
(I think my BP just went up 20 points, my ears are ringing)
They wouldn’t like us at all. We pay 0% interest rate and get a kickback as well.
BoA just laid him off with ZERO severance.
From the same bank that wanted to give credit cards to illegals without requiring SS numbers or any other validation that they’d be able to make payments or even be contacted to ask for payments.
BoA and its decision makers can rot in hell.
Pay your credit-card bills off every month, folks. Cancel all those that make you pay a yearly fee or any other type of fee to keep the card open.
Remember cash? What a great idea.
And by the way, is there a commercial with a bigger lie than that credit card commercial that has checkouts going like clockwork as long as everyone uses a credit card. Then someone pulls out cash and the entire ‘machine’ breaks down? What a lie. Everywhere I go, cash is fast. It’s the credit card, the entering of the PIN 2 or 3 times, the clearing of the entries, the cashier pushing a button, etc. that jams the ‘machine’ of the checkout process.
I wonder what would happen if American citizens protested by not paying their unsecuewd debts? I know, our credit scores would suffer but geesh, we are always left holding the bag.
Might be worth a phone call to see if the ever-friendly customer service rep will give you a reduced rate. If not, cancel the card.
I know someone that gets, at least, a couple of zero percent for 6 months upto year cards, every month. He takes the limit( $10-50k/card) and buys CDs. Pulling in like 3K a year.
I have no fees and I pay off the card every time I get a paycheck. I bought airplane tickets with it when I first got it- it was the reason I got it- and it took a couple of months to get 0 again.
“Might be worth a phone call to see if the ever-friendly customer service rep will give you a reduced rate. If not, cancel the card.”
That is a great idea. If you carry a revolving balance, threaten to cancel your card. You’re the type of customer they want. You’ll probably be transfered to Customer Retention.
Many people who receive those CC offers are routinely turned down if they actually apply for the “already approved” cards but if someone can steal the paper out of your trashcan, glue it back together and send it in he will be approved.
Your friendly whores Congresscritters voted for a law that would allow banks to incorporate in one state, making them subject to the laws of *THAT* state (say, for maximum legal interest rates), but offer credit to people in *EVERY* state.
Many Credit Cards are in Delaware or (IIRC) South Dakota.
Cheers!
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