scumbags known as chase

[Scamp]

Friendly Reminder To All:

Please be friendly, supportive and respectful when posting.

[Logical]

I have had AA on several cards including wamu/chase canceling 2 cards. A few months ago one card went up to 29%. I'm getting 1-2 letters a week from card companies telling me about the coming rate increase. None of this is good because I owe a huge amount of money on about 20 cards because I had to live on them for over a year and a half.

Yet, I'm not mad at the cc companies. I'm grateful I was able to live on them so long. Most of them are not doing very good because of the large amount of defaults (huge). Plus the new law coming into effect next year, although it has good things in it, also some costly things. Raising costs to ccc. In the real world when their costs rise, our cost rise.

Credit cards are like most anything else. Sometimes a good card goes south. When that happens - get another one,

because . . . it's just business.

[Anonymous]

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@creditwherecreditisdue wrote:

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Signed? The only people I signed anything with to get a CC was PenFed.

The general mode of acceptance is either clicking a box on an online app, or even worse merely activating/using the card.

In general cardholders passively acquiesce to accept the terms of the most one sided contract in the history of contracts.

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But they still accept. they still use

Why is ignorance such an excuse?

I am not defending the card industry willy nilly, but much of the hate is directed in the same way many addicts direct at others and never blame their part in the addiction process, the overweight blame the fast food vendors they frequent.

maybe I just take responsibility for my actions be them good bad or inconsequential.

And maybe I just expect others to take responsibility, or at least accept their share in the responsibity for their actions. 

When I worked in Finance, HALF the paperwork people had to sign and initial was acknowledments that they were declining coverage/protections/warranties. (offer someone GAP, explain what GAP is and how in their case they need it, they decline anyway then total their car a year later and we get an attorney trying to make us responbsible because we did not fully explian to the buyer why they needed GAP) People actually sued us stating that they did not decline XXXXX and nowe they were in ahrdship as they did not buy it.

Look around at a restaurant. Watch as someone orders a sandwich, the food gets delivered and the customer goes "Oh I forgot there were fries, I wanted brocolli." Server goes and gets the brocolli gives it to the guest gratis yet there was still a cost attached. A customer would be shocked if they were asked to pay for their mistake. (and its funnier when you go to an owner owned restauran tthat pretty much tells them thats how it will be.)

A great quote from the Sandman to explain my feelings:

I have no liking for prisons, Master Li. Sometimes I suspect that we build our traps ourselves, then we back into them, pretending amazement the while.

Dream, in SANDMAN #74, "The Exile"

Message Edited by usmc58555 on 10-07-2009 08:42 PM

[Anonymous]

Well said!.  with credit comes responsibility with that responsibility comes and obligation.   I am aware that this is a credit  forum and we tend  to discuss credit applications,  CLI etc.   but sometimes the responisbile use of credit seems to elude some of us until an adverse event occur.   I strongly agree that directing hostility and venom at the CC industry is not going to solve the problem.  As long as we borrow, demonstrate risky tendencies, seem overextended, then yes they will continue to make  adverse modifications.

CWCID  says "did not sign for the card"  well  checking a box these day in this electronic envionment is technically an electronic signature.  If the application was approved over the phone that may substantiate your claim.

anyway IMO all of us should be vigilant in this credit climate and realise that new and unexpected use of CC are red flags,  carrying a large balance when you normally do not = red flag.  If our banks continue to lose money it will take years for them to revcover the CC climate to what is once was.   Really if you suspect that some lurking around your house everyday is scouting it to possibly be a risk to  you,  would you let it happen or would you take steps to protect yourself.  Answer that and be honest and reasonable.

[score_building]

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@Uborrow-Upay wrote:

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@Watchmann wrote:

Let me see if I have this straight:

1. OP freely agreed to the terms of the CC when he signed up for it, knowing that the APR could increase in the future. 

2. OP has used this product for various reasons since he received it. 

3. OP has a balance this month which happened to coincide with a rate increase that was completey spelled out to him in his account agreement 

4. Ergo, Chase are jerks and scumbags.  :

I don't get why most conclude that the CCC is the bad actor here.  Just because bad economic times haven't happened before was no reason for the OP not to have a contingency plan in place just in case things went south.  Bad planning on the OP's part, but get on with the task at hand and pay the debt off ASAP.

If you don't like how the CCC's are acting write your elected representative, oh, wait, that hasn't worked out too hot recently either.

Message Edited by Watchmann on 10-07-2009 04:09 PM

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Watchmann, I wish to compliment you on your most entertaining use of smilies!

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oh yes, and at the OP expense, 'aint that nuthin'? 

[marty56]

Qeustion:      A BofA CSR and a Chase CSR are both thrown off the roof.  Which ones hits the bottom first?

Answer:        Who Cares.

Alt Answer:   The Chase one since Marty wants the BofA one to suffer longer.

Even in these times, we still have control of how we use our credit cards and whom we chose to do business with.  Yes some of us have more options than others but still over time we can gain control and make the choice wether to revolve a balance or not.

[creditwherecreditisdue]

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@marty56 wrote:

Qeustion:      A BofA CSR and a Chase CSR are both thrown off the roof.  Which ones hits the bottom first?

Answer:        Who Cares.

Alt Answer:   The Chase one since Marty wants the BofA one to suffer longer.

Even in these times, we still have control of how we use our credit cards and whom we chose to do business with.  Yes some of us have more options than others but still over time we can gain control and make the choice wether to revolve a balance or not.

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Yes. +1, all parts.

[MattH]

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@Logical wrote:

I have had AA on several cards including wamu/chase canceling 2 cards. A few months ago one card went up to 29%. I'm getting 1-2 letters a week from card companies telling me about the coming rate increase. None of this is good because I owe a huge amount of money on about 20 cards because I had to live on them for over a year and a half.

Yet, I'm not mad at the cc companies. I'm grateful I was able to live on them so long. Most of them are not doing very good because of the large amount of defaults (huge). Plus the new law coming into effect next year, although it has good things in it, also some costly things. Raising costs to ccc. In the real world when their costs rise, our cost rise.

Credit cards are like most anything else. Sometimes a good card goes south. When that happens - get another one,

because . . . it's just business.

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Yes, it's just business, but the way banks are acting these days whenever I see the phrase "it's just business" I tend to imagine hearing it in a North Jersey accent (think The Sopranos.)

My wife has long called credit card companies "credit pushers," but as with cocaine it takes two parties to do the deal -- the addict and the pusher.

Message Edited by MattH on 10-11-2009 12:05 AM

[Logical]

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@MattH wrote:

My wife has long called credit card companies "credit pushers," but as with cocaine it takes two parties to do the deal -- the addict and the pusher.

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True. It takes two to tango.

[marty56]

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@Logical wrote:

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@MattH wrote:

My wife has long called credit card companies "credit pushers," but as with cocaine it takes two parties to do the deal -- the addict and the pusher.

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True. It takes two to tango.

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Yes but we are always leading and can always sit the dance out if we want.  For some reason Billy Idol's Dancing with Myself comes to mind now,