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Regular Contributor
Posts: 150
Registered: ‎11-09-2008
0

Am I immune to RJ'ing?

Chase just lowered my Disney Visa rate to 5.24%, and last week my CU lowered my rate to 6.9%.

 

Any idea why they are doing this? The CU card just turned 16, maybe that's why. And maybe Chase likes that I carry a 3k balance? 

 

I feel really luckySmiley Happy. I am sorry to those being RJ'd.

04/2009
TU:745
EQ:764

10/2008
TU: 708
EQ: 708
EX:707
Valued Contributor
Posts: 1,185
Registered: ‎03-04-2008
0

Re: Am I immune to RJ'ing?

I don't think anyone is immune. CCC's are just fickle, that's all.
Senior Contributor
Posts: 3,279
Registered: ‎08-03-2007
0

Re: Am I immune to RJ'ing?

If they are variable rate cards (my Chase card is) then it's possible the recent Fed rate cuts are causing your APRs to be lowered incidentally. Normally it's something like Prime + X.XX%. So if Prime drops, your APRs do also.
Here we go again...
Contributor
Posts: 146
Registered: ‎01-06-2008
0

Re: Am I immune to RJ'ing?

This is because of your fantastic FICO scores.  If you ever are late on one payment you will see how fast they will reverse your low interest rates.

 

That is what happened to me back in 2004.  I forgot to pay one credit card on time and now my scores are much lower because of it.  Although it was over 4 years ago I still have one late charge that I paid and I never had a rebound to my high 780 scores.Smiley Mad

02/14/2009 EQ 797, EX 811, TU 805
Regular Contributor
Posts: 150
Registered: ‎11-09-2008
0

Re: Am I immune to RJ'ing?

Ouch, about 6 months ago I was 1 day late on my Chase card. They just said don't do it again for another 6 months.

 

I was not charged a late fee or anything.


Mark-MD wrote:

This is because of your fantastic FICO scores.  If you ever are late on one payment you will see how fast they will reverse your low interest rates.

 

That is what happened to me back in 2004.  I forgot to pay one credit card on time and now my scores are much lower because of it.  Although it was over 4 years ago I still have one late charge that I paid and I never had a rebound to my high 780 scores.Smiley Mad


 

 

04/2009
TU:745
EQ:764

10/2008
TU: 708
EQ: 708
EX:707
Senior Contributor
Posts: 3,279
Registered: ‎08-03-2007
0

Re: Am I immune to RJ'ing?


wcnghj wrote:

Ouch, about 6 months ago I was 1 day late on my Chase card. They just said don't do it again for another 6 months.


 Normally you won't get a ding on your CRs until you are 30 days late on a CC payment. Most CCCs won't report you before then, however, they very well can keep track of it internally. 
Here we go again...
Established Contributor
Posts: 794
Registered: ‎08-05-2008
0

Re: Am I immune to RJ'ing?


Mark-MD wrote:

This is because of your fantastic FICO scores.  If you ever are late on one payment you will see how fast they will reverse your low interest rates.

 

That is what happened to me back in 2004.  I forgot to pay one credit card on time and now my scores are much lower because of it.  Although it was over 4 years ago I still have one late charge that I paid and I never had a rebound to my high 780 scores.Smiley Mad


 

Thats just plain wrong. I thought over time, it counted less against your score to have a late payment/BK/CA/ etc...
____________________________________________________

"Evacuate, in our moment of triumph? I think you overestimate their chances."
Senior Contributor
Posts: 3,279
Registered: ‎08-03-2007
0

Re: Am I immune to RJ'ing?


Pappy214 wrote:
Thats just plain wrong. I thought over time, it counted less against your score to have a late payment/BK/CA/ etc...

They usually start to ding less on anniversaries.

Here we go again...
Contributor
Posts: 146
Registered: ‎01-06-2008
0

Re: Am I immune to RJ'ing?

You are correct, however, back in those days I did not review my accounts online. I didnt know that I forgot to make a payment until the next statement arrived.  At that point it hit my credit report as a 30 day late. 

 

It is now 4.5 years since but I am still taking a hit for it.  I wrote to HSBC several times but they refuse to remove it.  Smiley Sad

02/14/2009 EQ 797, EX 811, TU 805
Senior Contributor
Posts: 3,279
Registered: ‎08-03-2007
0

Re: Am I immune to RJ'ing?


Mark-MD wrote:

I wrote to HSBC several times but they refuse to remove it.  Smiley Sad


Keep writing! I know at least one forum member has had GW luck with HSBC.

Here we go again...
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