What has your bank done to you lately?

[Stretch]

Maybe it's poetic justice for working for a large credit card issuer, but in the past month the APR on one of my cards went from 9.9% to 19.9%, and the rewards on my primary card got essentially cut in half.

I don't really care about the first since I don't carry a balance, but I can see why people get pissed off. On the flip side, it is pretty scary to have your entire business model flipped upside down on a Congressional whim.

[Jorddyn]

Maybe it's poetic justice for working for a large credit card issuer, but in the past month the APR on one of my cards went from 9.9% to 19.9%, and the rewards on my primary card got essentially cut in half.


My AmEx did the same to me - the same month as I close on my house, and the first time in years I'm planning on carrying a balance. In response, I'll be paying off the balance anyway and instead using my now lower interest rate Visa.

[Makkah]

The credit card I've held for 10 years with a decent limit just expired, and I didn't really want to bank with Bank of America anymore so I didn't renew it. Just applied to Wachovia and STILL haven't heard back from it. Was supposed to take 48 hours.

All because I only have moderate credit due to some fucking medical bill that I didn't know about that got collected. So I'm just waiting for Wachovia to tell me I'm rejected and gotta pick up some shit credit card with like 25% APR. Like you, I don't carry a balance though, so that's cool. Only real purchases I've made on it was some plane tickets and half an engagement ring that I paid back 2 weeks later.

[diethx]

You had to manually renew a CC? Huh, i've never had to do that and i've had a ton of cards. They always just sent a new card a month or so before the other expired.

edit: Oh and the only thing that's happened lately is one of my cards went from 13.something% to 19.99%

[Drevihyin]

Financed a BMW in April then Citicorp wrote me a nice letter in August notifying me of their decision to cancel my $900.00 mastercard account with them.

[Methais]

My credit card is still at 6.24% APR, and I'm real happy for me and I'mma let myself finish, but I have one of the best credit cards of all time!!!!!1

EDIT:

http://forum.gsplayers.com/images/reputation/reputation_neg.gifWhat has your bank done... 09-15-2009 01:00 AM I dislike anal, and you sir, are an asshole.

Don't be mad at me because you were shoppin' for a new car and couldn't decide which one was you -- a cool convertible or an SUV. Then you found out your credit was whack and ended up driving off the lot in a used sub compact with your legs sticking to the vinyl and your posse getting laughed at.

Not my fault you fail :(

[diethx]

My credit card is still at 6.24% APR, and I'm real happy for me and I'mma let myself finish, but I have one of the best credit cards of all time!!!!!1

lol

[Parkbandit]

My AmEx did the same to me - the same month as I close on my house, and the first time in years I'm planning on carrying a balance. In response, I'll be paying off the balance anyway and instead using my now lower interest rate Visa.

Yea.. I got that letter from AMEX as well. Granted, I haven't used that CC in about 10 years.. but I always paid the $55 yearly membership to it JUST in case I did. Once they upped my APR, I called and cancelled it. I should have done that 10 years ago.

[Inspire]

Not that I'm a credit expert, but don't close the card. If you have no balance on the card, leaving the credit card open may actually be giving you a higher credit score. It all depends on your debt to credit ratio.

An example:

If you use $50 out of a $100 limit. You have a 50% debt to credit ratio.
If you use $80 out of a $100 limit. You have an 80% debt to credit ratio.

They say it's best to be in the 20% debt to credit ratio area.

[Allereli]

I had a $20k limit card that had no balance and I hadn't used in years. Got a letter last week saying they had canceled it for lack of use :(

[Inspire]

I had a $20k limit card that had no balance and I hadn't used in years. Got a letter last week saying they had canceled it for lack of use :(

I'm waiting for my BofA to do this. It has an 18k? credit limit that I haven't used because it's a 9 year old card with a super stupid interest rate.

I like my Citibank and Chase cards.

[The Ponzzz]

My BestBuy MasterCard just increased my limit from $3k to $15k but also increased my APR from 9.99% to 24.49%. Thanks BestBuy (who I believe is owned by Citi).

[Inspire]

My BestBuy MasterCard just increased my limit from $3k to $15k but also increased my APR from 9.99% to 24.49%. Thanks BestBuy (who I believe is owned by Citi).

If the first four digits are 7001 -- Most of those are HSBC/Retail Services Best Buy cards.
If the digits start out 182 -- Most of those are Chase Best Buy Cards.

[The Ponzzz]

Hah, nice. HSBC it is. Good catch.

[Bobmuhthol]

Capital One increased my credit limit while I am still in the 12 month, 0% APR intro period... those jerks.

[Makkah]

You had to manually renew a CC? Huh, i've never had to do that and i've had a ton of cards. They always just sent a new card a month or so before the other expired.

Well yea, but you have to call and activate the fucker. That's what I didn't do... I let my previous one expire without reactivating.

[diethx]

Ahhh. It's weird that that would close your account. J got a CC he didn't activate for like 6 months cause he forgot about it, and it wasn't an issue.

[Makkah]

I guess "close my account" is misleading. I just mean... I'm not using it anymore. Thus closing it to me

[Gan]

Not that I'm a credit expert, but don't close the card. If you have no balance on the card, leaving the credit card open may actually be giving you a higher credit score. It all depends on your debt to credit ratio.

An example:

If you use $50 out of a $100 limit. You have a 50% debt to credit ratio.
If you use $80 out of a $100 limit. You have an 80% debt to credit ratio.

They say it's best to be in the 20% debt to credit ratio area.


You're right. Having open trade lines with low balances (credit/debt ratio) is closely tied to your credit score and can be a significant factor for what interest rates you qualify for when making big purchases (car, home).

[Sean of the Thread]

I'm now a Suncoast Schools Federal Credit Union member and I love it.

Back when my credit was over 700+ I had Sam's club cancel my card out of the blue for not using it enough and they wouldn't issue me another one. Same thing with my Burdines/Macy's card. /shrug.

I'm in no position and in no hurry to obtain any credit card again for a long time coming.

[Trouble]

Non of my banks have done anything annoying that I am aware of yet.

I mainly use a Mastercard Check Card for most daily transactions. I do have a regular Platinum Visa from my credit union that I use for online purchases and travel. My rate on the card is still low and fixed with no fee, something like 6.5%.

I use ING Direct for most regular baking needs since they pay interest on checking and have higher than average interest on savings. They haven't done anything to me other than slow down their website by drinking the Ajax cool-aid.

Credit unions are the best, and they're pretty easy to get memberships with these days. Even my county has a CU that any resident can join. I'm a member of three. One nice thing is that they haven't reassigned my mortgage like my old commerical bank did every 12-18 months.