Credit Card Center Advertiser Disclosure†
06-04-2009 06:31 AM
06-04-2009 06:39 AM
You'd think after reading these forums and seeing this so much, I'd have lost my capacity to be disgusted by such practices that lead me to think about words like "usury" which, I might add, if you check your thesaurus, are synonyms of the words "exploitation" and "stealing." Maybe I just think too much.
I'm sorry this happened to you too.
06-04-2009 06:43 AM
06-04-2009 06:50 AM
No, maks, I actually do agree with you, from the practical perspective; I do understand that these banks have to manage their risks in the best way they can... I really do get that it's just a business decision, not a personal judgment.
06-04-2009 06:59 AM
06-04-2009 08:25 AM
I would rather banks not be able to change rates on existing purchases. They should only get the chance to underwrite before the purchase, not after.
It's not usury. It's aggressive risk management. Chase and Amex are more aggressive than others. Let me ask you a question this way, would you like banks to conduct business as if it was still 2006?
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.