Credit Card Companies ,how they changed laws to fleece the public.

[chasinthesun]

http://www.youtube.com/watch?v=Mew00va0Gi0

WHATS IN YOUR WALLET?

[Graplr]

I don't know how any of this is "secret". It's pretty simple. The credit card companies make a lot of money. They will do everything in their power to continue to make a lot of money. Either play by their rules (which most people will) or don't use them.

[Pavka007]

Originally Posted by Graplr

I don't know how any of this is "secret". It's pretty simple. The credit card companies make a lot of money. They will do everything in their power to continue to make a lot of money. Either play by their rules (which most people will) or don't use them.

I cut all my CC several years ago. Now I have only one (just in case) with a limit of $3K, that's it. I use the card once or twice a month just to keep it active and I pay in full at the end of the month. I sleep much better this way.

[The Clk Man]

Originally Posted by Pavka007

I cut all my CC several years ago. Now I have only one (just in case) with a limit of $3K, that's it. I use the card once or twice a month just to keep it active and I pay in full at the end of the month. I sleep much better this way.

Did you know that CC companies call people like yourself and I DEADBEATS because we pay our balance in full every month?

[Pavka007]

Originally Posted by The Clk Man

Did you know that CC companies call people like yourself and I DEADBEATS because we pay our balance in full every month?

They could call me whatever they want. I still use their money for free, not to mention all the free miles flying back to Europe every year
If they are not happy I would give them the card back.
My Dad (RIP) used to say: "If you can't pay cash, you don't deserve it"
I don't own a single dime to anyone, everything I own is paid for.

[TX76513]

CC Companies also set the "tone" for the new way of doing business. Hidden Charges, Fees, Late Payments. Look at Cell Phone Company, Cable, Airlines. Everyone has a gimmick now. All about trying to get one over on you. This is what we have become.

[Brian Carlton]

Originally Posted by TX76513

CC Companies also set the "tone" for the new way of doing business. Hidden Charges, Fees, Late Payments. Look at Cell Phone Company, Cable, Airlines. Everyone has a gimmick now. All about trying to get one over on you. This is what we have become.

Absolutely. A quoted price is basically BS. The additional fees added after the fact make the real cost much higher.

Checkout a car rental price lately? You'll pass out when you see the final bill..........close to 50% above the daily rate.

[TX76513]

Let's see if we can name out all the credit card "games". You know the stuff you cant read without a magnifying glass.

#1. O% interest for XX Months. Let thou be late 1 day and that's gone. Also balance transfers are 1 - 3% of amount transfered AND you have to pay off that amount before you start touching the principal of any new charges.

#2. No Grace period. Almost impossible to pay off a balance. If you get your statement and pay that day in full you will have $X.XX in interest. Then think that your balance is paid off and not pay next month BAM $35 late Fee

#3. Late Fees - The Providian Scam that almost everyone uses now.
#4. 28 day billing cycle. Sounds innocent right? That's 13 payments a year. It gets you off track of when your bill is due. See #3

[The Clk Man]

Originally Posted by TX76513

Let's see if we can name out all the credit card "games". You know the stuff you cant read without a magnifying glass.

#1. O% interest for XX Months. Let thou be late 1 day and that's gone. Also balance transfers are 1 - 3% of amount transfered AND you have to pay off that amount before you start touching the principal of any new charges.

#2. No Grace period. Almost impossible to pay off a balance. If you get your statement and pay that day in full you will have $X.XX in interest. Then think that your balance is paid off and not pay next month BAM $35 late Fee

#3. Late Fees - The Providian Scam that almost everyone uses now.
#4. 28 day billing cycle. Sounds innocent right? That's 13 payments a year. It gets you off track of when your bill is due. See #3

SEARS did that to us, the due date changed every month and the bill would come in one day before it was due. We paid the balance and cut the card into pieces.

[TylerH860]

I do my best to pay everything on time and not a day earlier than I should. Every bill I have is paid online, including my mortgage. Recently my mortgage was sold to some company that had online bill pay. Twice now on the 15th of the month (when everbody's mortgage is due) their online payment system is down due to technical difficulties or maintenance. Most recently I tried 3 times during the day. Called to gripe but they did nothing. $30 late fee.

I hate that I don't get to choose who holds the paper on my house. Can't wait to pay the thing off. Mortgages are scams themselves with the way interest is paid.

[The Clk Man]

If you ever buy something say one year same as cash interest free, make sure you send the last payment in one month early. This was told to me by a SEARS employee. Evidently SEARS changes the due date on the last payment to make you have to pay all of the back interest. I hate SEARS.

[rscurtis]

You're probably not the only one, as there's almost nothing left of the once-great retailer.

[engatwork]

When I was a young lad I used to love to go to Sears and buy tools. I've actually still got some of them.

[TX76513]

Originally Posted by The Clk Man

If you ever buy something say one year same as cash interest free, make sure you send the last payment in one month early. This was told to me by a SEARS employee. Evidently SEARS changes the due date on the last payment to make you have to pay all of the back interest. I hate SEARS.

That's exactly the type of crap we have to put up with these days

[The Clk Man]

Originally Posted by TX76513

That's exactly the type of crap we have to put up with these days

Heard that my man.