tag:blogger.com,1999:blog-6691419434857365566.post7671242843722955067..comments2019-01-07T09:45:55.378-05:00Comments on Gua's Blog: The credit card messGuahttp://www.blogger.com/profile/01511587102568910147noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-6691419434857365566.post-74482972586652558452009-05-14T18:21:00.000-04:002009-05-14T18:21:00.000-04:00Okay, I see. I just hope that you will not use th...Okay, I see. I just hope that you will not use that specific CC again.Raggedyhttps://www.blogger.com/profile/06727551022181508901noreply@blogger.comtag:blogger.com,1999:blog-6691419434857365566.post-38874870885077985322009-05-14T17:42:00.000-04:002009-05-14T17:42:00.000-04:00Bt, I think you missed my point. I agree that anyo...Bt, I think you missed my point. I agree that anyone who signs on the dotted line with the upfront knowledge of 15 or 20 % interest rate is gets what he or she deserves. <br />Here is what I'm talking about; the credit card companies promise one rate then at their discretion they change the rates with the consumer having no recourse. Here is my example. I had a credit card balance at 3.9% allegedly guaranteed for the life of the loan. At the beginning of the year they raised the interest rate to 9%, raised the minimum payment from 2% to 5% (of the balance) and started to charge a monthly $10 fee. (keep in mind that I had never missed a payment and had never been late which is the usual reason they raise rates.<br />When I called to get an explanation and protest I was politely told "that is the way it is" and they have the right to pretty much do as they please. I am not the only one that this happened to, it was an across the board policy to increase revenue at our expense. This is no different than loan sharking its just legalized!!Guahttps://www.blogger.com/profile/01511587102568910147noreply@blogger.comtag:blogger.com,1999:blog-6691419434857365566.post-57280587535685397312009-05-14T12:37:00.000-04:002009-05-14T12:37:00.000-04:00I'm sorry, but I don't quite agree with the "loan ...I'm sorry, but I don't quite agree with the "loan shark" statement. Yes, these companies offer loans at way to high percentage rates. But nobody has to accept these offers. Anyone who does is asking for trouble. You don't have to be very bright to understand that 16%, 18% or even higher interest rates will create a problem for you. If you accept such rates despite of that knowledge, it's your own fault, if you suffer.Raggedyhttps://www.blogger.com/profile/06727551022181508901noreply@blogger.com