I think its just a coporate game that we are all players off. Its all about statistics, numbers, reports etc. Were just numbers to these companies. I have to believe that the the key to staying in the game, is to find that middle ground where you can use everything you've learned from sites like myfico and stay one step ahead of them. Then again I have scores in the mid 500's so what do I know 
miay2k4 wrote:
I think its just a coporate game that we are all players off. Its all about statistics, numbers, reports etc. Were just numbers to these companies. I have to believe that the the key to staying in the game, is to find that middle ground where you can use everything you've learned from sites like myfico and stay one step ahead of them. Then again I have scores in the mid 500's so what do I know
You know a heckuva lot more than the vast majority of folks in your position know, and more than most American consumers know!
With time, persistence, and enough spare cash to get any debt down, those mid-500's will be a distant memory. It wasn't that long ago that I stared at a 590 EQ FICO (a newly-posted 30 day late combined with a new account.) You have the tools to turn things around for yourself as well. Just keeping reading here (and other reputable sites) and applying what you've learned.
HTSU, as usual is right on.
Following the good advice here, espeically advice regarding being patience, is the most prudent way to proceed.
I received back-to-back notices from my two top low-interest companies (First Command--4.25% and Simmons--7.25%) that they are raising their rates or going variable--both situations that will make them far less appealing now.
Following haulings advice, though, I am patient and will let the storms pass. It is best to think seriously about adopting that perspective.
Good luck.
Starting Score: TU 766 EQ 788
@iwantbettercredit wrote:I understand that it is hard economic times but we (The consumers) are really getting the shaft here folks. I am confused. I was always taught to be responsible with your credit. So why is it that if you...
You use your card responsibly and pay it off every month they will cancel or decrease your limit and call you a deadbeat on top off it?
Don't use your card and just save the credit for an emergency and again you are a deadbeat and they cancel your card?
Use you card moderately and make above mininimum payments on time every month and they increase your interest rate, reduce your credit limit, and double your minimun payment?
Use all of your credit limit, make your payments on time and you are living beyond your means, over extended and they increase your interest rate and cancel your card?
What do they want from us????????? Do they want our business or not and if so, what is it that they want us to do in order to keep our credit healthy. We are a credit card companies lifeline, so why are they working so diligently on trying to ruin us? Chase has maxed out my cards because decreased my credit limit to the balance I owe, increased my interest rate and doubled my minimun payment all because I use their card, make them money and pay my bills on time!!!!!!!
I hate credit cards and I hate banks and if they keep this up we should all just file for bankuptcy whether we need to or not and screw em all. That will teach them to not ruin good people.
With that said and all my frustration out in the open... How was your day dear?
IMHO, its called "control. I don't, and won't, deal with any bank anymore. I found a new home at my local credit union. If they fail me, it will be back to COD again and to hell with them all.
@Imhotrodcrazy wrote:IMHO, its called "control. I don't, and won't, deal with any bank anymore. I found a new home at my local credit union. If they fail me, it will be back to COD again and to hell with them all.
There is a lot to be said about credit unions. True service gets lost in the shuffle of the large conglomerates and global corporations. While I understand their never dying need to expand in order to pay returns and dividends to shareholders, I don't necessarily want to be in the path of that "progress" and get run over.
I have made major moves toward credit unions, having joined several. I'm not yet using a local (except that NFCU has a branch in my area), but will if I find the right one.
I love NFCU the best, so far, for "credit" even though their deposit rates are not as good as most others. I also like Alliant. PenFed is good. I joined PSECU (strictly for the EX FICO they provide members) so I don't have any real practical experience with them. And lastly, I joined Addison Avenue because they appear to be truly in the credit business as well.