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I don't know where these financial gurus who tell us to haggle with credit card companies over interest rates are getting their information.
I just had the conversation with HSBC when my interest rate jumped from 0% to 17% for no good reason, except that the term had expired. I was told that this was a "normal" interest rate. They wouldn't budge.
If this is the new normal, then I don't want any part of it. I said, "Well, I guess you don't appreciate my business so you won't be getting any more of it." Guess who's getting paid off this month?
I just heard on the news that their British contingent; HSBC is a global bank, lost one million in the Maddoff scandal. Thus the 17% interest rate..
SweetiePie said:
I don't know where these financial gurus who tell us to haggle with credit card companies over interest rates are getting their information.
Yes, we have found the only thing we can do is watch for the lower rate invitation in the mail and when a card goes to a higher percentage switch it over. Does not usually apply to NEW purchases, those will be the higher percentage, but I think the cards are assuming you'll continue to use them which we don't do. Then when that card catches on and ups the percentage, we usually get the invitation from the one we previously dumped, so switch back.
This has enabled us to pay our cards off much quicker.
RIki
 
I don't know where these financial gurus who tell us to haggle with credit card companies over interest rates are getting their information.
I just had the conversation with HSBC when my interest rate jumped from 0% to 17% for no good reason, except that the term had expired. I was told that this was a "normal" interest rate. They wouldn't budge.
If this is the new normal, then I don't want any part of it. I said, "Well, I guess you don't appreciate my business so you won't be getting any more of it." Guess who's getting paid off this month?
I just heard on the news that their British contingent; HSBC is a global bank, lost one million in the Maddoff scandal. Thus the 17% interest rate..
Notice on 2 credit cards recently (we pay them off every month for the most part) - one jumped to 33%!!!, another went from 7.9% to almost 24%. This is cRaZy!!!
 
I don't know where these financial gurus who tell us to haggle with credit card companies over interest rates are getting their information.
I just had the conversation with HSBC when my interest rate jumped from 0% to 17% for no good reason, except that the term had expired. I was told that this was a "normal" interest rate. They wouldn't budge.
If this is the new normal, then I don't want any part of it. I said, "Well, I guess you don't appreciate my business so you won't be getting any more of it." Guess who's getting paid off this month?
I just heard on the news that their British contingent; HSBC is a global bank, lost one million in the Maddoff scandal. Thus the 17% interest rate..
Notice on 2 credit cards recently (we pay them off every month for the most part) - one jumped to 33%!!!, another went from 7.9% to almost 24%. This is cRaZy!!!
.
Samster said:
Notice on 2 credit cards recently (we pay them off every month for the most part) - one jumped to 33%!!!, another went from 7.9% to almost 24%. This is cRaZy!!!
You are bad credit card people. You pay them off promptly every month. They don't like that since they are not making money off you. Thus the jump in rate.
We are pretty happy that we've been using our debit cards for over a year now. Of course DH feels we are not making money, but I think we are since we are paying for all emergencies that arise with cash and still are putting a little in the business savings account. This is with just two rooms. When we go to 5 I think it will look better.
RIki
 
I don't know where these financial gurus who tell us to haggle with credit card companies over interest rates are getting their information.
I just had the conversation with HSBC when my interest rate jumped from 0% to 17% for no good reason, except that the term had expired. I was told that this was a "normal" interest rate. They wouldn't budge.
If this is the new normal, then I don't want any part of it. I said, "Well, I guess you don't appreciate my business so you won't be getting any more of it." Guess who's getting paid off this month?
I just heard on the news that their British contingent; HSBC is a global bank, lost one million in the Maddoff scandal. Thus the 17% interest rate..
Notice on 2 credit cards recently (we pay them off every month for the most part) - one jumped to 33%!!!, another went from 7.9% to almost 24%. This is cRaZy!!!
.
Samster said:
Notice on 2 credit cards recently (we pay them off every month for the most part) - one jumped to 33%!!!, another went from 7.9% to almost 24%. This is cRaZy!!!
You are bad credit card people. You pay them off promptly every month. They don't like that since they are not making money off you. Thus the jump in rate.
We are pretty happy that we've been using our debit cards for over a year now. Of course DH feels we are not making money, but I think we are since we are paying for all emergencies that arise with cash and still are putting a little in the business savings account. This is with just two rooms. When we go to 5 I think it will look better.
RIki
.
egoodell said:
Samster said:
Notice on 2 credit cards recently (we pay them off every month for the most part) - one jumped to 33%!!!, another went from 7.9% to almost 24%. This is cRaZy!!!
You are bad credit card people. You pay them off promptly every month. They don't like that since they are not making money off you. Thus the jump in rate.
We are pretty happy that we've been using our debit cards for over a year now. Of course DH feels we are not making money, but I think we are since we are paying for all emergencies that arise with cash and still are putting a little in the business savings account. This is with just two rooms. When we go to 5 I think it will look better.
RIki
Yes, we are bad credit card people for the most part. I do have a low interest balance transfer balance that I am paying down. I'm waiting for the other shoe to drop on that one! I do still like the 30 day float of a credit card vs a debit card that sucks your money out right away. Allows me to juggle a few things better....
Maybe someday this biz will be doing well enough that I can stop the juggling act! haha!
 
I don't know where these financial gurus who tell us to haggle with credit card companies over interest rates are getting their information.
I just had the conversation with HSBC when my interest rate jumped from 0% to 17% for no good reason, except that the term had expired. I was told that this was a "normal" interest rate. They wouldn't budge.
If this is the new normal, then I don't want any part of it. I said, "Well, I guess you don't appreciate my business so you won't be getting any more of it." Guess who's getting paid off this month?
I just heard on the news that their British contingent; HSBC is a global bank, lost one million in the Maddoff scandal. Thus the 17% interest rate..
Notice on 2 credit cards recently (we pay them off every month for the most part) - one jumped to 33%!!!, another went from 7.9% to almost 24%. This is cRaZy!!!
.
Samster said:
Notice on 2 credit cards recently (we pay them off every month for the most part) - one jumped to 33%!!!, another went from 7.9% to almost 24%. This is cRaZy!!!
33%? That's beyond usury.
 
Juggling 0% credit cards is how I built my business. Unfortunately they are drying up out there. Most of the companies I'm already with are no longer offering them. The best they will give you is 4 to 5% and the new companies no longer take you at your word as to what you make. Fortunately, I'm well past having to buy equipment or furnishings and am now in simply the paying off phase. I'm 3/4s of the way there and counting. I pity the new startups without a family trust fund to fall back on.
 
Juggling 0% credit cards is how I built my business. Unfortunately they are drying up out there. Most of the companies I'm already with are no longer offering them. The best they will give you is 4 to 5% and the new companies no longer take you at your word as to what you make. Fortunately, I'm well past having to buy equipment or furnishings and am now in simply the paying off phase. I'm 3/4s of the way there and counting. I pity the new startups without a family trust fund to fall back on..
SweetiePie said:
Juggling 0% credit cards is how I built my business. Unfortunately they are drying up out there. Most of the companies I'm already with are no longer offering them. The best they will give you is 4 to 5% and the new companies no longer take you at your word as to what you make. Fortunately, I'm well past having to buy equipment or furnishings and am now in simply the paying off phase. I'm 3/4s of the way there and counting. I pity the new startups without a family trust fund to fall back on.
You are correct. I think we have two card balances that we are quickly paying off with 0%. I think we have one or two offers left at this amount, more are coming in at 5%. But juggling the 5% still is worth the phone call vs taking 17%. Just hav to keep track of it all.
Riki
 
I don't know where these financial gurus who tell us to haggle with credit card companies over interest rates are getting their information.
I just had the conversation with HSBC when my interest rate jumped from 0% to 17% for no good reason, except that the term had expired. I was told that this was a "normal" interest rate. They wouldn't budge.
If this is the new normal, then I don't want any part of it. I said, "Well, I guess you don't appreciate my business so you won't be getting any more of it." Guess who's getting paid off this month?
I just heard on the news that their British contingent; HSBC is a global bank, lost one million in the Maddoff scandal. Thus the 17% interest rate..
Notice on 2 credit cards recently (we pay them off every month for the most part) - one jumped to 33%!!!, another went from 7.9% to almost 24%. This is cRaZy!!!
.
Samster said:
Notice on 2 credit cards recently (we pay them off every month for the most part) - one jumped to 33%!!!, another went from 7.9% to almost 24%. This is cRaZy!!!
33%? That's beyond usury.
.
Apparently there is a cap now for APRs on credit cards - 39%? Yikers! Needless to say, that card will not be used. I would cancel it but that affects your credit rating. So, it will sit unused.
 
I don't know where these financial gurus who tell us to haggle with credit card companies over interest rates are getting their information.
I just had the conversation with HSBC when my interest rate jumped from 0% to 17% for no good reason, except that the term had expired. I was told that this was a "normal" interest rate. They wouldn't budge.
If this is the new normal, then I don't want any part of it. I said, "Well, I guess you don't appreciate my business so you won't be getting any more of it." Guess who's getting paid off this month?
I just heard on the news that their British contingent; HSBC is a global bank, lost one million in the Maddoff scandal. Thus the 17% interest rate..
SweetiePie said:
I don't know where these financial gurus who tell us to haggle with credit card companies over interest rates are getting their information.
Yes, we have found the only thing we can do is watch for the lower rate invitation in the mail and when a card goes to a higher percentage switch it over. Does not usually apply to NEW purchases, those will be the higher percentage, but I think the cards are assuming you'll continue to use them which we don't do. Then when that card catches on and ups the percentage, we usually get the invitation from the one we previously dumped, so switch back.
This has enabled us to pay our cards off much quicker.
RIki
.
I used to do that but now they have a 3% "transfer fee" in the very fine print.
 
I don't know where these financial gurus who tell us to haggle with credit card companies over interest rates are getting their information.
I just had the conversation with HSBC when my interest rate jumped from 0% to 17% for no good reason, except that the term had expired. I was told that this was a "normal" interest rate. They wouldn't budge.
If this is the new normal, then I don't want any part of it. I said, "Well, I guess you don't appreciate my business so you won't be getting any more of it." Guess who's getting paid off this month?
I just heard on the news that their British contingent; HSBC is a global bank, lost one million in the Maddoff scandal. Thus the 17% interest rate..
SweetiePie said:
I don't know where these financial gurus who tell us to haggle with credit card companies over interest rates are getting their information.
Yes, we have found the only thing we can do is watch for the lower rate invitation in the mail and when a card goes to a higher percentage switch it over. Does not usually apply to NEW purchases, those will be the higher percentage, but I think the cards are assuming you'll continue to use them which we don't do. Then when that card catches on and ups the percentage, we usually get the invitation from the one we previously dumped, so switch back.
This has enabled us to pay our cards off much quicker.
RIki
.
I used to do that but now they have a 3% "transfer fee" in the very fine print.
.
gillumhouse said:
I used to do that but now they have a 3% "transfer fee" in the very fine print.
We don't owe that much so it's still worth it.
Riki
 
The new limits on interest rates and fees go into effect two months (or billing cycles if you prefer) and they all are jumping on the opportunity to jack things up before then.
Its mad rush to do so with nearly everybody regardless of risk, balance or payment timeliness. The new law doesn't allow for going back and reducing rates even for good risk customers who have had their rates skyrocket.
Citigroup just announced today that several MILLION cardholders will see higher rates, fees, etc.. and not just for their cards but for all cards they manage, like SEARS, LOWE'S, etc..
 
The new limits on interest rates and fees go into effect two months (or billing cycles if you prefer) and they all are jumping on the opportunity to jack things up before then.
Its mad rush to do so with nearly everybody regardless of risk, balance or payment timeliness. The new law doesn't allow for going back and reducing rates even for good risk customers who have had their rates skyrocket.
Citigroup just announced today that several MILLION cardholders will see higher rates, fees, etc.. and not just for their cards but for all cards they manage, like SEARS, LOWE'S, etc...
Tim_Toad_HLB said:
The new limits on interest rates and fees go into effect two months (or billing cycles if you prefer) and they all are jumping on the opportunity to jack things up before then.
Its mad rush to do so with nearly everybody regardless of risk, balance or payment timeliness. The new law doesn't allow for going back and reducing rates even for good risk customers who have had their rates skyrocket.
Then I'm thankful that I've been using my debit card all this time and working on paying off the credit cards...
RIki
 
The most popular bumper sticker around here says, "The Stimulus Package isn't working - and neither is my husband."
 
Amex fees are to high.
i take for my business V, MV and D
though I have been thinking of doing away with it....but....I do decent full season prepays via the CC
 
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