Re: Just a general question. -- The Rosewater Foundation, Rosewater, Indiana

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Date Posted: 08:22:25 07/10/09 Fri
Author: Jeffman
Subject: Re: Just a general question.
In reply to: Shirley 's message, "Re: Just a general question." on 11:13:17 07/09/09 Thu

They can only do that for so long without creating more problems for themselves.

The Credit Card industry is doing similar things now. Congress passed some laws reining them in that dont go into effect until next year. So they are systematically raising interest rates and fees on ALL their customers because they know they cant legally do that next year. They told congress they would do that and they are. But its not sustainable for more than a year or so because of the number of customers they are losing and the people that werent defaulting that now are under the new higher interest rates.

Funny thing about it.. if you are willing to close your account and have the ability to do so, they all of a sudden will keep your interest rates and fees where they were. If you arent willing to close your account and pay it off, they wont even talk to you about it but will instead just give you the answer, "Well the cost of doing business has gone up and we have to do this to be competitive."

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Replies:

Would you believe? -- Paul Davis, 18:55:35 07/11/09 Sat
- I dont put anything past CC companies -- Jeffman, 09:27:34 07/13/09 Mon
  - To be honest -- Paul Davis, 06:09:04 07/14/09 Tue
    - Credit Unions -- Jeffman, 08:15:27 07/14/09 Tue
      - Re: Credit Unions -- Shirley, 16:19:09 07/15/09 Wed
        Re: Credit Unions -- Jeffman, 05:44:21 07/16/09 Thu
        Re: Credit Unions -- Shirley, 06:45:24 07/16/09 Thu
        Re: Credit Unions -- Jeffman, 11:33:12 07/16/09 Thu
        Re: Credit Unions -- Shirley, 19:13:12 07/16/09 Thu
        compost pile -- Jeffman, 05:50:52 07/17/09 Fri
        Re: compost pile -- Shirley, 08:23:17 07/17/09 Fri

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