has anyone else's credit cards interest rate been raised?

dgk3188

dgk3188

3,594
44
Joined
Jul 30, 2004
mad.gif


at first i got a letter from Capital One telling me that their interest rate is now @ 24.9%

and today i get one from my bank where i had a 7.99% interest rate and it's now at 13.49%!

i have pretty good credit, last time i checked it was a 720 (i'm 20 years old)

i doubt its happening because of anything i've done.i've never missed a payment or even had a balance. i ALWAYS pay in full. is this because of howthings are going? (economy and all that crap?)
 
My dad told me his Capitol One card just doubled the interest rate as well. He's only had one late payment in about 3 years. I guess he's not the onlyone.
 
working for a credit card company, all of them are feeling the crunch. the company i work for doesnt even have a default interest rate like most (sub primelender)...but with all of the people who are NOT paying it ruins it for the rest of us.... for people that keep balances on the card and this happens you canopt out of the change in terms but it will close your account..... anf for others who carry balances on their card or cards most companies are so hard up justto get their money back if you aske they will just lower your apr to like 2% or 0 % just so u pay the account off...the company i work for is not one of thosecompanies however..
 
Originally Posted by Pick99

working for a credit card company, all of them are feeling the crunch. the company i work for doesnt even have a default interest rate like most (sub prime lender)...but with all of the people who are NOT paying it ruins it for the rest of us.... for people that keep balances on the card and this happens you can opt out of the change in terms but it will close your account..... anf for others who carry balances on their card or cards most companies are so hard up just to get their money back if you aske they will just lower your apr to like 2% or 0 % just so u pay the account off...the company i work for is not one of those companies however..
Click to expand...

damn. really appreciate that knowledge my dude.
this is just the tip of the iceberg too huh? things are gonna get way worse
grin.gif
 
[color= rgb(102, 0, 153)]I got 2 cards, 1 cap and 1 macys, so i pressume itll raise up...but i've been paying %@%% off ontime...[/color]




[color= rgb(102, 0, 153)]...how do you find out your score?[/color]
 
It's not about the money.

It's too discourage CC holders from charging on their card and the bank taking on more debt.
 
to a point... depends what the banks do with the bailout money...it was designed to keep people in their homes and refinance mortgages with ARM loans .... atleast obama made CITI corp give back the 50 million dollar corporate jet back ....yes that was what they tried to use part of their bailout money for... but ithink once we can get mortgages squared away we can start to work on everything else
 
only reason i know my credit score is because i tried to get a loan at my bank late last year. but truthfully, i have no idea. i'm sure someone can chip inhere though. i know a lot of those credit check companies just check your credit and make sure you're in good standing, im not sure if they give you yourcredit score though.
 
Originally Posted by Pick99

to a point... depends what the banks do with the bailout money...it was designed to keep people in their homes and refinance mortgages with ARM loans .... at least obama made CITI corp give back the 50 million dollar corporate jet back ....yes that was what they tried to use part of their bailout money for... but i think once we can get mortgages squared away we can start to work on everything else
Click to expand...
The bailout money was to underwrite bank debt and keep their reserves requirements near Basel II agreement levels.

This entire *@#!*@!# about "refinancing mortgages" and "lending" to the public is complete horse @*%$. It's a show meant to placate thepublic.
$50 Million jet was a stunt as well as the attempted CEO pay limit.

Does that come close to $8.4 trillion that banks have received or are guaranteed to cover their liabilities and reserve requirements?
 
I made a thread about this in December and no one saw it, I guess.

I called Citi to see if they were able to LOWER my rate because I have been with them for four years and never one late payment nor have they ever lowered myrate. The lady was like, "you didn't receive the letter?". SMH.

Mine jumped from a 13.99 to 19.99. I can't wait to be able to pay that off.
 
mine jumped from 14% to i thiiiink 29%(?)



but yet i havent sent them a payment in almost 4 months.....overdrawn and no kind of income ftmfl
 
Mine are stable. Even increased my credit limit. But then again my credit score is near perfect.
 
Originally Posted by reeeem0

mine jumped from 14% to i thiiiink 29%(?)



but yet i havent sent them a payment in almost 4 months.....overdrawn and no kind of income ftmfl
Click to expand...
damn bra
ohwell.gif
ohwell.gif
ohwell.gif

well my credit limit got shortened with Bank of America...Man im starting to hate them
mad.gif
mad.gif
. , I had a 6K limit, got cut to 3.6K.
I Missed a payment , I just forgot and paid a day late in December. I think it may have tied in but theres no reason in the Letter . I just received it inMondays mail.

I spoke to my Aunt and she said that AMEX cut her Credit limit and raised her interest rate by a few percentages.

mother (#)D*&D#&
mad.gif
mad.gif
mad.gif
 
i mean...if these people want to improve the economy...increasing the interest rate is just gonna put more people into heavier debt.

and Dirty...i always pay off in full
 
Originally Posted by dgk3188

i mean...if these people want to improve the economy...increasing the interest rate is just gonna put more people into heavier debt.

and Dirty...i always pay off in full
Click to expand...

It might actually do the opposite and train people to pay for things with money they actually have. I would not be surprised if this all ends in a backlashagainst the financial industry. I'm actually kind of pissed that the TARP money gave AMEX $4B in bailout money. Their interest rates are high enough! Why do they need to be bailed out for taking obscene amounts of people's money? They won't even negotiate with people to lower their interest or theirdebt settlement.
 
You must log in or register to reply here.

The ultimate sneaker enthusiast community.

NikeTalk was created as a way of giving back to both the sneaker enthusiast community and to the greater global community of which we are all a part.

NikeTalk is NOT affiliated with Nike Inc. in any way, shape, or form. All opinions expressed herein do not necessarily reflect those of Nike, Inc.

© 1999-2024 NikeTalk.com

Share this page

Back
Top Bottom