Credit Cards..... on time payment history... jacked up APR rates

m.o.s.tm.o.s.t
Posted:
in General Discussion edited January 2014
This seems to be a new-very fast growing trend--- Where you have no late paymnets with your Credit Card... no over limits.. and you wake up with a 17.99% APR !!!!! ....



Anyone else notice this?



example ... Chase... offer in the mail 7.99% FIXED (no exp) They get you to Transfer balances... you ride the offer for a good 6 months.... WA__WAAA_BAMMMM 17.99% **For an on time good paying Cardmember !!!!!

Comments

  • Reply 1 of 7
    akacakac Posts: 512member
    That's why I don't use credit for anything but short term (and soon payed off) purchases. The practices of the credit card companies is bordering on criminal.
  • Reply 2 of 7
    m.o.s.tm.o.s.t Posts: 255member
    Quote:
    Originally Posted by Akac View Post


    That's why I don't use credit for anything but short term (and soon payed off) purchases. The practices of the credit card companies is bordering on criminal.



    I found this on the web



    http://moneyhelps.blogs.money.com/20...-rate-tripled/
  • Reply 3 of 7
    akacakac Posts: 512member
    I should add - I spent several years getting out from under CC debt. I still keep an AMEX card for business (need it for certain things that cash/debit won't work like rentals/hotel), but I pay things off within 30-60 days no matter what. CC Debt has just gotten worse and i know its easy to say and hard to do, but its like putting a burden on you that gets heavier each month. Just no fun. Its frankly easier to just buy what you can afford.
  • Reply 4 of 7
    addaboxaddabox Posts: 12,665member
    Quote:
    Originally Posted by Akac View Post


    I should add - I spent several years getting out from under CC debt. I still keep an AMEX card for business (need it for certain things that cash/debit won't work like rentals/hotel), but I pay things off within 30-60 days no matter what. CC Debt has just gotten worse and i know its easy to say and hard to do, but its like putting a burden on you that gets heavier each month. Just no fun. Its frankly easier to just buy what you can afford.





    Amen to that. I hit a rough patch a while back and a combination of massively increased rates because of late payments and barely being able to make minimum payments put me a pretty bad hole.



    I'm well on my way to digging out (decently compensated labor certainly helps) and I swear on the graves of my ancestors I'll never do debt again. In fact, I'm so disgusted with the crap I've been through I'd really rather forgo a relationship with most financial institutions, altogether, and bury gold in my back yard.
  • Reply 5 of 7
    nofeernofeer Posts: 2,427member
    i'm looking for a new reward card...my amex delta flymiles is a joke, i can't get the flights i want so i want move to a cash reward card any suggestions i always pay off my card every month



    here are some evaluation sites i found through consumer reports

    http://www.cardratings.com/



    http://www.bankrate.com/





    remember they all have sections that "can change anytime" and they have a science of getting your money no matter what you do. if you change cards they up the rate for changing cards they have the power



    maybe the thing to do is get one then cancel others to get them off your credit report
  • Reply 6 of 7
    akacakac Posts: 512member
    Personally, I like the AMEX charge cards. Not AMEX card credit cards. No interest. And you earn a point for every dollar. Plus so far, I've been able to use those points for buying airline tickets with no issues of schedule at all. It may not be the fastest point getter, but its been the best I've used.
  • Reply 7 of 7
    kickahakickaha Posts: 8,760member
    After 18 years of swearing I'd never go back to Amex due to customer support problems, I'm tempted. Dammit.
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