About that credit card situation...

I posted a thread a few days ago about credit card companies raising rates under the lame excuse of the economy.

If this happens - without a doubt CONTACT THE CREDIT CARD COMPANY AND REJECT THE NEW TERMS.

They will likely cancel your card after its expiration, but if that's the way the card company treats their customers, I say good riddance.

You can also try to renegotiate the rate, but if it's an extremely low fixed rate to begin with (mine was 7.99%, which they tried to bump up to 14.99%) they'll likely not keep you at that low rate.

So if this happens to you, take control and get on the phone!

~Writer~

to add insult to injury, before I got to talk to a representative I had to listen to a spiel about how I could get 0% interest if I moved my "high interest" card balances to Citibank.

When I finally go through to a human I told them I wanted the 0% offer everything was fine until they found out my high interest card was their's. I pointed out the them that I had never been late with a payment and always pay more than the minimum and that I have a card with another bank that charges half the interest and I'd be seeing what deals they might offer me to transfer high rate balances. After moving up the food chain, I did get the rate dropped to something more reasonable. I have 2 Citi cards and only have one payment left on one of them and less than a year on the other so it isn't worth shuffling things around as long as they keep the rate within reason.

We got rid of all of our cards and then got one from our Credit Union that allows a very high ballance but doesn't jack us around at all over all that petty shit that the banks do. No unexpected rate hikes, no due date changes with no notice, not of that bullshit.

is the only card I have.

They are the true enemy.

Once upon a time people borrowed money to buy a house or land, to start a business, or in the past century to buy a car.

Today we borrow money to buy LUNCH.

THAT is the problem.

Get rid of the cards. It only hurts for a while. I promise.

My current rate is < 13%. Now I'm wondering if they have different rates for different customers.

BTW, I've already closed the account, but expect they're going to try to shaft me anyway.