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Am I immune to RJ'ing?

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Anonymous
Not applicable

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.

Message 1 of 19
18 REPLIES 18
jmbfl
Valued Contributor

Re: Am I immune to RJ'ing?

I don't think anyone is immune. CCC's are just fickle, that's all.
Message 2 of 19
FretlessMayhem
Senior Contributor

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...
Message 3 of 19
Anonymous
Not applicable

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

Message 4 of 19
Anonymous
Not applicable

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.


@Anonymous 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


 

 

Message 5 of 19
FretlessMayhem
Senior Contributor

Re: Am I immune to RJ'ing?


@Anonymous 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...
Message 6 of 19
Anonymous
Not applicable

Re: Am I immune to RJ'ing?


@Anonymous 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...
Message 7 of 19
FretlessMayhem
Senior Contributor

Re: Am I immune to RJ'ing?


@Anonymous 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...
Message 8 of 19
Anonymous
Not applicable

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

Message 9 of 19
FretlessMayhem
Senior Contributor

Re: Am I immune to RJ'ing?


@Anonymous 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...
Message 10 of 19
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