Comments on: Credit Card Interest Rate Increases: Excellent Credit Be Damned http://www.rainydaysaver.net/2010/02/credit-card-interest-rate-increases.html Making change one penny at a time Mon, 31 Oct 2011 10:32:38 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Little Househttp://www.rainydaysaver.net/2010/02/credit-card-interest-rate-increases.html#comment-46 Little House Tue, 16 Feb 2010 19:04:39 +0000 http://rainydaysaver.net/?p=441#comment-46 I have to say that I can't stand Chase. I am boycotting them. They canceled my husband's card a few months ago and sent the letter <em>after</em> their action had already taken effect. As for no cap on interest rates being part of the new CC law, I don't get that either. I guess this is just another incentive to pay off credit cards in full right away! I don't want them making any more money off me! I have to say that I can't stand Chase. I am boycotting them. They canceled my husband's card a few months ago and sent the letter after their action had already taken effect. As for no cap on interest rates being part of the new CC law, I don't get that either. I guess this is just another incentive to pay off credit cards in full right away! I don't want them making any more money off me!

]]> By: RainyDaySaverhttp://www.rainydaysaver.net/2010/02/credit-card-interest-rate-increases.html#comment-38 RainyDaySaver Mon, 15 Feb 2010 21:22:37 +0000 http://rainydaysaver.net/?p=441#comment-38 @SmallTownRunner: Amen!<br /><br />@444: I hear you. The idea of equalizing makes sense, but I wonder how it will affect those with the true "buying power" -- or maybe they won't care? I don't use my credit cards for much, and once we pay off Mr. Saver's debt, I don't really plan to use them again unless it's something that can be paid off in full with the next statement.<br /><br />@Money Funk: It's obviously not your fault the rate went up; as 444 points out, it's something that's been happening -- it's just hitting those with better credit now. I think they're just sneaking in the rate hikes while they have the 'chance.' @SmallTownRunner: Amen!

@444: I hear you. The idea of equalizing makes sense, but I wonder how it will affect those with the true "buying power" — or maybe they won't care? I don't use my credit cards for much, and once we pay off Mr. Saver's debt, I don't really plan to use them again unless it's something that can be paid off in full with the next statement.

@Money Funk: It's obviously not your fault the rate went up; as 444 points out, it's something that's been happening — it's just hitting those with better credit now. I think they're just sneaking in the rate hikes while they have the 'chance.'

]]> By: Money Funkhttp://www.rainydaysaver.net/2010/02/credit-card-interest-rate-increases.html#comment-37 Money Funk Mon, 15 Feb 2010 19:57:11 +0000 http://rainydaysaver.net/?p=441#comment-37 My husband and I experienced the same situation with our WF card. Excellent credit, loyal paying-on-time customer...woosh! up went the APR. *shame* My husband and I experienced the same situation with our WF card. Excellent credit, loyal paying-on-time customer…woosh! up went the APR. *shame*

]]> By: 444http://www.rainydaysaver.net/2010/02/credit-card-interest-rate-increases.html#comment-36 444 Mon, 15 Feb 2010 17:51:52 +0000 http://rainydaysaver.net/?p=441#comment-36 This won't be what you want to hear, but what they're doing to those of us with lower scores is not much different; in fact, they're sort of "equalizing" the market so that those with high scores are now getting the same horrible rates that those of us with bad scores have been battling all along. And in some cases, higher rates. I don't think I have a card with a rate higher than 19.99%, not one that I use, anyway - and it doesn't seem fair to people with good scores when I hear of them getting ratejacked up to scores just as high or higher. I'd be pretty mad if I were a high-credit-scorer and were suddenly thrown in the pile. It's like we're all the same these days. This won't be what you want to hear, but what they're doing to those of us with lower scores is not much different; in fact, they're sort of "equalizing" the market so that those with high scores are now getting the same horrible rates that those of us with bad scores have been battling all along. And in some cases, higher rates. I don't think I have a card with a rate higher than 19.99%, not one that I use, anyway – and it doesn't seem fair to people with good scores when I hear of them getting ratejacked up to scores just as high or higher. I'd be pretty mad if I were a high-credit-scorer and were suddenly thrown in the pile. It's like we're all the same these days.

]]> By: SmallTownRunnerhttp://www.rainydaysaver.net/2010/02/credit-card-interest-rate-increases.html#comment-35 SmallTownRunner Mon, 15 Feb 2010 16:46:12 +0000 http://rainydaysaver.net/?p=441#comment-35 And that is why we are paying off all our credit cards and canceling them. We plan to never have a credit card again. And that is why we are paying off all our credit cards and canceling them. We plan to never have a credit card again.

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