I think that alot of people for the last 25 years have forgotten about what interest rates were at in the 80's, my auto loan was at 13% and that was with perfect credit.

I guess it's a lot better today than back than.

Wow, that's pretty high.

I think that alot of people for the last 25 years have forgotten about what interest rates were at in the 80's, my auto loan was at 13% and that was with perfect credit.

How's this?

Hjm331!Alwayscollectincardslikesatinlaces!

Hi Colonative,

It didnt sound judgemental, no harm done. I just needed to clarify things a little better than previously stated.

What a mess this credit industry is in.

Thanks for your posts everyone, Eugene66, Meya,Colonative.....!!!

Rockin35!AlwaysThrives!

It was either an adjustment or refund of a mistake on their part.

Has anyone here experience CapitalOne paying a very small amount to your balance after you have paid your monthly payment????? This happened to me recenty and when I called CapitalOne backdoor to inquire about it and they werent sure as to why it happened but since it was initiated by them they will just leave it. So Cap1 just paid $3 of my balance, its small but isnt that cool!!!!

To Colonative,

Let me clarify my previous post. It appears to be so-so easy for Major Corporations that have sustained themselves & their profits for 50+ years to get out of there debt, yet when 12 months of semi-deminishing consumer spending cuts into their bankroll,...they then turn around and ask for a Billion Dollar "Tax Paid Corporate Welfare" check.

I"m not sure what you mean by "Typical American attitude". But Let me assure you that,I am not one of those that went out an bought 3 cars and a house that I couldn't afford. I chose not to file BK 6 years ago but instead, buckle down, get a 2nd job to pay my student loans and other financial obligations. You know...it's call being resposible and it frustrates me to keep hearing about these financial institutions finding all the loop holes & ways to pass every cost-cutting loss on to consumers.....


The "Typical American Attitude" that I have seen clearly.. enabled by this last 4yr administration was... To GET all you can from consumers/suck them Dry" then ask for a handout.

It is no less than "Corporate Welfare" if you ask me. Ted Turner was on CNN a few months back, and stated he lost 10Billion with Time Warner and didn't whine about it, but re-organized, changed his strategy to fix his bottom line.

I hope my point is clearer. Passing the interest rate hike on to consumers that met there obligation and their end of the bargain, just doesn't seem right.

Rockin35!

Preach on about these dirty banks, I just made a similar posting in another thread. They are wrong and dirtier that two left muddy shoes. They are acutally out to destroy us. Here is what I quoted about 5 minutes ago, this is why I clapped when I read what you just quoted above]I know we are all messed up, seems like the only one who recognize it is the president and citizens. Banks are the main ones that are ticking me off. I have never been so roared-up over a bank until I am reading, from others, how they were treated with their credit. Banks know what is going on and they are steady broadcasting how they are in dire need of bail-out. But my thing is, why destroy your customer credit? Lowering their limits, raising Apr's, closing accts, and hiking up nearly every item on the cc contract. This makes other creditors feel like they (the consumer) are maxing out their limits, and fear that they (the other bank) is going to be next. So in return, the next creditor begins to lower their limits and hike fees. This is what really ticks me off. Don't make us look bad because your business took a hit. What about the consumers life, we are messed up too, but we (those who struggle to pay) do our darnest to make sure that we pay them back. Honoring a debt during hardship is a true dedication and it shows positive responsibilities.[/quote]

To Colonative,

Let me clarify my previous post. It appears to be so-so easy for Major Corporations that have sustained themselves & their profits for 50+ years to get out of there debt, yet when 12 months of semi-deminishing consumer spending cuts into their bankroll,...they then turn around and ask for a Billion Dollar "Tax Paid Corporate Welfare" check.

I"m not sure what you mean by "Typical American attitude". But Let me assure you that,I am not one of those that went out an bought 3 cars and a house that I couldn't afford. I chose not to file BK 6 years ago but instead, buckle down, get a 2nd job to pay my student loans and other financial obligations. You know...it's call being resposible and it frustrates me to keep hearing about these financial institutions finding all the loop holes & ways to pass every cost-cutting loss on to consumers.....


Rockin35!

Rockin35,

I did not intend for that to sound insulting to you. I used to work for a bank's bankruptcy department and I heard things from customers that made my skin crawl. I understand that things happen to people and they have to file-especially when it comes to medical issues. But some of these people had no shame whatsoever in filing, they felt it was their right and basically stuck their middle finger at us. And then what was worse, they couldn't udnerstand why three years later we declined them for a new card.

As far as the typical American Attitude comment...we are spoiled rotten, we don't want to work for anything anymore and we have no shame. Not every American but a vast majority. We have just really lost what being an American used to mean. When I wrote that I had just read your comment about filing bankruptcy and I remembered some of those people I spoke with and how I wanted to reach out and strangle them through the phone. So I appologize to you and anyone else I may have offended.

As far as you filing bankruptcy, that is your personal choice, and if filing will ease your stress and let you move on with life then that is something you will consider. And by filing a Chapter 13 you are doing yourself a favor as opposed to full on liquidation (Chapter 7). But I do believe in this new envrionment that we are living in, obtaining new credit after bankruptcy may be difficult.

Keep in mind times have changed. In order for the banks to lend us money through the credit card they have to borrow that money. Borrowing the money from bank to bank has become more expensive and some banks are having trouble getting the loans they need. Additionally, bankruptcies and charge offs are going up, so the banks have to increase APR's etc to make up for that. I am not saying it is right or wrong; it is just the climate we live in now.
You ask someone who had credit in the 70's and 80's and they will probably tell you that they had small credit lines and high APR's. We were spoiled for a while there for the past decade and now we are going back to the way things used to be.
Or ask our neighbors to the north. Look at any Canadian bank's website and you won't see 8.9% APR Visa Platinum's etc, they are still charged annual fees, 15.9% APR's and Visa Gold is still the top card there.
I agree, something for credit cards could have been included in the Stimulous Package-maybe like making credit card interest tax deductable like it used to be if even temporarily. :

Rockin is releasing an amount of frustration that a lot of Americans feel right now but i believe she will cool down and make a thoughtful decision with some fresh air and some support.the credit card companies game of cat and mouse has caused a lot of people's frustration because as you go along and pay your bills responsibly, you still get weighted down with the drop of a dime changes to your accounts for their, not your, benefit.

I applied for a person loan in Dec 08 to pay off all of the balances i have left on my credit cards because of the way things have changed.my fico scores i pulled last week showing after all my account with zero balances,plus with this loan,went up about 75 points but i am looking at closing the ones that i have to use to keep active but keeping those that i most frequently use the most(cap one).

Thanks Meya,

I appreciate everything you've said and it is all so true. I just got 3 Term Changes in the last 2 weeks, one from Sears, Barclay DirectTV visa, and one other. These are cards I use maybe once a year, so lucky for me I don't carry balances on them.

It appears to be so much more easier to file bk than muscle through this tough time. It looks even more grim when my employer is advising they may get rid of our department.

So, bkrpcy for me....may be inevitable as much as I HATE to do it....

Thanks for listening, I think Im gonna cancel my HSBC Best Buy MC, I dont' have a use for it anyways.

Rockin35

To Colonative,

Let me clarify my previous post. It appears to be so-so easy for Major Corporations that have sustained themselves & their profits for 50+ years to get out of there debt, yet when 12 months of semi-deminishing consumer spending cuts into their bankroll,...they then turn around and ask for a Billion Dollar "Tax Paid Corporate Welfare" check.

I"m not sure what you mean by "Typical American attitude". But Let me assure you that,I am not one of those that went out an bought 3 cars and a house that I couldn't afford. I chose not to file BK 6 years ago but instead, buckle down, get a 2nd job to pay my student loans and other financial obligations. You know...it's call being resposible and it frustrates me to keep hearing about these financial institutions finding all the loop holes & ways to pass every cost-cutting loss on to consumers.....


The "Typical American Attitude" that I have seen clearly.. enabled by this last 4yr administration was... To GET all you can from consumers/suck them Dry" then ask for a handout.

It is no less than "Corporate Welfare" if you ask me. Ted Turner was on CNN a few months back, and stated he lost 10Billion with Time Warner and didn't whine about it, but re-organized, changed his strategy to fix his bottom line.

I hope my point is clearer. Passing the interest rate hike on to consumers that met there obligation and their end of the bargain, just doesn't seem right.

Rockin35!

I heard that withthe new bankruptcy laws, you cant just file and start anew. A judge will review your case and figure out whether you could pay down your debt long-term or if geting the ok is right. I believe they will look at your income, assets, and even consolidate your debt before going through the process. And this all stems from the amount of bankruptcy filings in recent years.