AMERICAblog: Why do we bother to save these companies?
pender
· 4 months ago
I found a perfect method for dealing with predatory credit card companies. It has never failed me, and I use it CONSTANTLY.
The method is, don't buy shit you can't afford.
libertydan
· 4 months ago
Add that to the list of 1000 reasons to not have bailouts.
SCLiberal
· 4 months ago
...list of 1000 reasons to not have bailouts.
or credit cards. After my bankruptcy in 2004 (medical bills from late husband's cancer) the credit card offers came pouring in like a tidal wave. Every one of them went in the trash. I still don't have a credit card. There are lots of things I want and some I need but I'm making do. I make under 33k annually. If I can get by, anyone can.
njprogressive
· 4 months ago
bank of america raised my minimum payments for my credit card about a month and a half ago. i have never missed a payment and always pay more than the minimum payment. when i called and asked why it was raised i was told that they "were being forced to make these changes by new laws being enacted in washington". i told the person on the phone that i wasn't going to use the card anymore and when i was done paying it off i was going to cut it up. they gave me the impression that they didn't care. these companies are soul-less. maybe everyone should just decided to not pay their credit card bills for a couple of months. a credit card holder payment strike. then maybe these companies would know what it feels like to be dicked over.
faeriedust
· 4 months ago
Were you notified that your credit card payments or interest were going up? Well that was suppose to be the credit card reform. I believe you could go on the internet to get the information that you need. They are suppose to inform you. I believe 60 days upon the raising of interest or payments. Didn't Bank of America one that was bailed out and they were giving their executives, huge bonuses?
Indigo
· 4 months ago
Restaurants in Texas can throw faggots out for kissing, why not credit card companies slam their clients with higher payment rates? It's all part of the mad scheme to anger the public into a shootin' revolution. But no, we're so well behaved. It won't happen.
chandler28
· 4 months ago
Chris, This is about as bad as it gets here in the land of the free to rip off. Read Kevin Drum's post on how credit card cos., among other tactics, removed the bar code from payment coupons in order to slow our payments and generate late fees. $40 billion rip off per year. That's over $100 per year per American, lifted right out of our wallets.
"A 2001 "checklist" from Profit Technologies — a firm that has worked with 19 of the USA's 20 largest banks — has more than 600 strategies....One strategy listed to boost overdrafts: "Allow consumers to overdraw their ... accounts at the ATM up to the bank's internally set limit." To increase credit card fees, banks can "delay crediting of payments not received in bank provided envelop (sic) or for which payment coupon is not received for up to 5 days," and "remove bar coding from remittance envelopes," slowing the payment."
HelenRainier
· 4 months ago
I have only a debit card and have never had a credit card. Likewise, I haven't kept my money in a bank for well over 20 years now. Credit unions for me.
Just a couple of years ago, I bought a "new" (used) car and it was financed through Citigroup (before all this s*it went down). I sent in payments that were well over the "minimum" and actually covered a several months period of time worth of payments. My loan was for 5 years, so I was way "ahead" of where I should have been when figured on a monthly basis. At any rate, I was ready to make my "last" payment and called to ask for the payoff balance. They gave me a figure, I wrote a check and sent it thinking that was the end of it. Next thing I know, I get a bill for an additional 40-50 dollars as a "handling" fee or some garbage like that.
Called them and told them I had called and asked for the payoff balance, was given a figure, and sent a check for that amount. I was then told the extra amount was for some additional charge that wasn't included in the payoff balance. Told them that wasn't my problem, I called, asked, and when I asked for the amount I expected them to give me accurate information.
They decided to write off the 40-50. No shit. I think they were pissed because I paid the damned loan off in a year and they likely lost a ton of extra money on me. Too damned bad.
devlzadvocate
· 4 months ago
I almost emailed the link for this article to you, but I figured you would see it and it would strike a note with you, too.
Glad to see it did.
These are the great Americans we defend with our lives.
Name
· 4 months ago
I work for these scumbags. They are screwing Americans in every way possible. You would be amazed at the number of jobs they have shipped to India and the Philippines. Its time for Americans to get in the streets and demand change.
All Comments
The method is, don't buy shit you can't afford.
or credit cards. After my bankruptcy in 2004 (medical bills from late husband's cancer) the credit card offers came pouring in like a tidal wave. Every one of them went in the trash. I still don't have a credit card. There are lots of things I want and some I need but I'm making do. I make under 33k annually.
If I can get by, anyone can.
http://www.motherjones.com/kevin-drum/2009/07/o...
"A 2001 "checklist" from Profit Technologies — a firm that has worked with 19 of the USA's 20 largest banks — has more than 600 strategies....One strategy listed to boost overdrafts: "Allow consumers to overdraw their ... accounts at the ATM up to the bank's internally set limit." To increase credit card fees, banks can "delay crediting of payments not received in bank provided envelop (sic) or for which payment coupon is not received for up to 5 days," and "remove bar coding from remittance envelopes," slowing the payment."
Just a couple of years ago, I bought a "new" (used) car and it was financed through Citigroup (before all this s*it went down). I sent in payments that were well over the "minimum" and actually covered a several months period of time worth of payments. My loan was for 5 years, so I was way "ahead" of where I should have been when figured on a monthly basis. At any rate, I was ready to make my "last" payment and called to ask for the payoff balance. They gave me a figure, I wrote a check and sent it thinking that was the end of it. Next thing I know, I get a bill for an additional 40-50 dollars as a "handling" fee or some garbage like that.
Called them and told them I had called and asked for the payoff balance, was given a figure, and sent a check for that amount. I was then told the extra amount was for some additional charge that wasn't included in the payoff balance. Told them that wasn't my problem, I called, asked, and when I asked for the amount I expected them to give me accurate information.
They decided to write off the 40-50. No shit. I think they were pissed because I paid the damned loan off in a year and they likely lost a ton of extra money on me. Too damned bad.
Glad to see it did.
These are the great Americans we defend with our lives.