Tuesday, May 19, 2009

Stickin' It to the Man?

Have you heard about
this?  It is about dang time!

Wish it would have happened before my Visa platinum card skyrocketed from 7.99% interest to 13.99% interest for no reason whatsoever last December.  Not a single late payment (and I mean not even two days late payment) in over eight years, always paying more than the minimum, apparently these don't matter because, yes, they raised the interest by nearly double for no purpose whatsoever anyway (other than everyone not paying their bills...and the crap economy).  Yes, I was pissed when they did this.  No, I could not pay it off at that time and subsequently avoid the interest hike.  Yes, I haven't used this card since then.  When I do finally pay the mother off, that account is closed.  Permanently.

My only concern:  what the bastards are going to try to get away with between now and when the law goes into effect.  Now, forgive me while I write a letter to my state senator and credit card company to request the past months' superfluous interest hikes be retroactively credited to my account.  I'll try to avoid the word "bastard".


Willis Family said...

For one of Jake's classes he had to call and ask a credit card company to lower the rate. He just called, they looked at the card and dropped our rate to 7%. They did think we were a little crazy, since we'd never carried a balance, but it might be worth a try. This was pre credit crunch time, but ya never know.

Jen said...

I can't believe they did that to you. So lame.

silvernic said...

I agree that credit card companies are evil, but in a free market, democratic society, is it fair for the government to target and destroy any legal enterprise? Also, President Obama spent a lot of time the last two weeks worrying about credit card companies. Should that really be on the top of his list of concerns?

Lisa S said...

That happened to us too. My husband had a nice rate of 3.99 and then last month it jumped to 15.99. Really irritating. Once your account is paid off I would recommend not closing it because doing so will affect your credit score.
Yes we are in a free market, but it just seems like the card companies can change the rules in mid stream without any regard for the customer.