Benefits Of Carrying Zero Balances.....Darn it feels Good!

[DI]

Today, I received a Dear D.I. letter from HSBC. And it goes a little bit like this if you will.

IMPORTANT NOTICE OF CHANGE IN TERMS

IMPORTANT INFORMATION: The following new terms apply to all new and existing balances on your Account unless you notify us that you are exercising your right to reject these changes.  If you reject these changes, we must receive your notice of rejection prior to the effective date stated below.  When we receive your notice of rejection, your Account will be closed.

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This is why it's important to PIF whenever one can.  Because if you don't, you would be succumbed by the banks and never get ahead financially. Now I walk to the shredder.

Message Edited by DI on 01-07-2010 09:00 PM

[keith021]

I received a letter from both Kay and Jared yesterday regrading Change in Terms.

[JagerBombs89]

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@keith021 wrote:

I received a letter from both Kay and Jared yesterday regrading Change in Terms.

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I can say the same about Kay and Samuel Jewelers

[Anonymous]

I don't understand what benefits are you talking about. Is it good or bad?

[fused]

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latindane wrote:

I don't understand what benefits are you talking about. Is it good or bad?

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I think what DI is saying is keep your balances very low or pay them in full before your statement date, so the credit card companies don't change your terms aka "rate jack you". Rate jacking means raising your APR, sometimes to a ridiculous rate.