Credit card fresh hell: Governed by rules of state of virginia??????

jazzjunkysue

(1000+ posts) Send PM | Profile | Ignore

Tue Mar-03-09 06:42 PM
Original message

Credit card fresh hell: Governed by rules of state of virginia??????

WTF?????
I get this cryptic little folded paper with one sentence on it:

"Effective immediately, your Account will be governed by federal law and the laws of the state of virginia, whether or not you live in virginia and whether or not your account is used outside of viriginia."

Yes, it's a big mega bank credit card.

Anyone know what this means?

Printer Friendly | Permalink | | Top

Orrex

(1000+ posts) Send PM | Profile | Ignore

Tue Mar-03-09 06:44 PM
Response to Original message

1. Yes, in Virginia, there is no Santa Claus

Printer Friendly | Permalink | | Top

Cronus Protagonist

(1000+ posts) Send PM | Profile | Ignore

Tue Mar-03-09 06:44 PM
Response to Original message

2. rate hike and higher late fees

Count on it. Oh, and no suing... that's unAmerican!

Printer Friendly | Permalink | | Top

Uben

(1000+ posts) Send PM | Profile | Ignore

Tue Mar-03-09 06:45 PM
Response to Original message

3. I think it means....

.....your account is now owned by a bank whose home office is now in Virginia.

Printer Friendly | Permalink | | Top

davidwparker

(1000+ posts) Send PM | Profile | Ignore

Tue Mar-03-09 06:47 PM
Response to Reply #3

4. CapitalOne is near Richmond, VA

Printer Friendly | Permalink | | Top

SoCalDem

(1000+ posts) Send PM | Profile | Ignore

Tue Mar-03-09 06:47 PM
Response to Original message

5. When you take money from loan sharks, you play by their rules

Edited on Tue Mar-03-09 06:48 PM by SoCalDem

and that's what credit card merchants are..loan sharks.
the only way to "defeat them", is to pay cash, and to save for future purchases. If you use their money, they own you,., It's just that simple.

Printer Friendly | Permalink | | Top

jazzjunkysue

(1000+ posts) Send PM | Profile | Ignore

Tue Mar-03-09 06:51 PM
Response to Reply #5

10. I have 0 balances on my cards, so, it doesn't effect me.

I was wondering if there was some wierd exception to the normal rules that made this bank move to the state.

Guess I'll find out...But it stays in my pocket.....

Printer Friendly | Permalink | | Top

SoCalDem

(1000+ posts) Send PM | Profile | Ignore

Tue Mar-03-09 07:06 PM
Response to Reply #10

12. Delaware & Utah attracted a lot of them because they have "friendly" laws

Maybe Virginia now does too:shrug:

Printer Friendly | Permalink | | Top

notesdev

(1000+ posts) Send PM | Profile | Ignore

Tue Mar-03-09 06:48 PM
Response to Original message

6. It means

that your best response is to send them a copy of their letter along with a few hundred plastic fragments of what used to be your credit card with them

Printer Friendly | Permalink | | Top

dixiegrrrrl

(1000+ posts) Send PM | Profile | Ignore

Tue Mar-03-09 07:16 PM
Response to Reply #6

13. That is a great response....

even if we carry zero balance, the big banks are making money off the stores that use the cards when we we buy.
And that adds to the cost of what we pay.
And that feeds the Corpocracy that is putting us in a Depression.

The question is: how much longer are we willing to buy the bullets that are being fired at us????????

Printer Friendly | Permalink | | Top

Still Sensible

(1000+ posts) Send PM | Profile | Ignore

Tue Mar-03-09 06:49 PM
Response to Original message

7. I think it means bend over

and assume the position. Typically banks and credit card companies are headquartered in Delaware or South Dakota because of the favorable (to the companies) laws. I wonder if someone has found a loophole that they can exploit under Virginia statutes to stick it to borrowers? Not like I don't trust the bastards or anything.

Printer Friendly | Permalink | | Top

msongs

(1000+ posts) Send PM | Profile | Ignore

Tue Mar-03-09 06:51 PM
Response to Original message

8. generally I think credit card terms cannot be changed "effective immediately"..there is a short wait

period between notification and implementation.

but don't quote me on that.

Msongs

Printer Friendly | Permalink | | Top

rucky

(1000+ posts) Send PM | Profile | Ignore

Tue Mar-03-09 06:51 PM
Response to Original message

9. If means that if you want to sue them for screwing you over...

Edited on Tue Mar-03-09 06:53 PM by rucky

you have to do it in Virginia.

There seems to be a rising tide of class action against these bastards...

http://www.bcsalliance.com/x_creditcardtricks2.html

Printer Friendly | Permalink | | Top

jazzjunkysue

(1000+ posts) Send PM | Profile | Ignore

Tue Mar-03-09 06:52 PM
Response to Reply #9

11. How convenient!

Printer Friendly | Permalink | | Top

DU AdBot (1000+ posts)

Tue Apr 30th 2024, 10:16 PM
Response to Original message

Advertisements [?]

Top

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.