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Credit Card Woes? Or just me?
I got a notice from Capitol one that my interest was going up and I could close the card or pay the increase. Now, I have had that card for 6 years and the payment went from 40.00 a mo tho 91.00. Another went to almost 30% cause I was 2 days late getting it paid. I know that this is legal, but morally, ethically its crazy.
Paychecks are down, groceries are up (and have you noticed less in the package than used to be for more money?) It is getting to where if something does not break, we are gonna have to choose what to pay to survive and let the rest go! Do credit card companies realize they are cutting off their noses to spite their face? I have worked very very hard to maintain good credit and between the medical bills and credit cards and walmart getting the rest. I dont know how someone with children can do it. It is just me and my hubby. And we both work! No such thing as retirement for us. What is the answer? Anyone know how to handle the credit card companies?
Paychecks are down, groceries are up (and have you noticed less in the package than used to be for more money?) It is getting to where if something does not break, we are gonna have to choose what to pay to survive and let the rest go! Do credit card companies realize they are cutting off their noses to spite their face? I have worked very very hard to maintain good credit and between the medical bills and credit cards and walmart getting the rest. I dont know how someone with children can do it. It is just me and my hubby. And we both work! No such thing as retirement for us. What is the answer? Anyone know how to handle the credit card companies?
I think the Bible says something like, "Whomever you borrow from you become a slave of." Not the EXACT wording but it's a great paraphrase.
I have ONE credit card, for emergencies only. It has a zero balance, and I keep it that way.
I use a debit card. If I can't afford it, I don't buy it.
*lesson learned the hard way, we had a chap 13 bankruptcy that was discharged 3 years ago*
I use a debit card. If I can't afford it, I don't buy it.
*lesson learned the hard way, we had a chap 13 bankruptcy that was discharged 3 years ago*
your story of 80K sounds like my friend who is also my neighboor, I just can not understand such people, now if it was IDK something like my kid needed surgery and we had no insurance or similar senerio I would charge what ever needed. But I will only charge up to 200 dollers on my store credit card and always pay atleast 50 dollers till its paid off, they want 15 dollers yeah right!!! they would make a ton in interest.
even if people paid a mere 20 dollers above min paymment its wise.
even if people paid a mere 20 dollers above min paymment its wise.
I have had one major store credit card that Im keeping just because its always been in my name, also I rarely use cash a debit card is my "cash' just need to be on the ball and aware of amt in account.
credit cards are a trap, easy to fall into. If you cant afford it on debit or by cash, we try to do with out,,that being said we do have a major common credit card for unforseen events like car repairs, needed medicine if we dont have money etc...we play the jumping around game, transefer balance often to a zero percent interest. we also have limit of amt we will charge in our minds.
my neighboor charges like the sky is the likit things like crystal figurines, a new exercise machine, vacation to Hawii, etc..she will never get out of the hole she has dug.
credit cards are a trap, easy to fall into. If you cant afford it on debit or by cash, we try to do with out,,that being said we do have a major common credit card for unforseen events like car repairs, needed medicine if we dont have money etc...we play the jumping around game, transefer balance often to a zero percent interest. we also have limit of amt we will charge in our minds.
my neighboor charges like the sky is the likit things like crystal figurines, a new exercise machine, vacation to Hawii, etc..she will never get out of the hole she has dug.
Personally I have a rule. If I can't afford it, I do without. I use a DEBIT card...meaning the money is already mine to start with. It gets deducted from my bank account. Things are just things, and we all need to learn to do without.
There was a saying back in the depression of the 1930's that I remember my grandmother saying.
Use it up
Wear it out,
Make it do,
Or do without.
I refuse to let some bank take my hard earned money in interest just to get them THEIR luxuries!
Personally, I put myself in the poorer countries shoes and then realise how much we really DO have!
So cut up that rotten credit card. Start walking places, go without take out food, don't buy new wardrobe of clothes every season, put up with the old TV, get the car serviced regularly (it will last a lot longer!) swap clothes with friends, form a toy bank...oh I think you know what I am saying!
Cheers!
There was a saying back in the depression of the 1930's that I remember my grandmother saying.
Use it up
Wear it out,
Make it do,
Or do without.
I refuse to let some bank take my hard earned money in interest just to get them THEIR luxuries!
Personally, I put myself in the poorer countries shoes and then realise how much we really DO have!
So cut up that rotten credit card. Start walking places, go without take out food, don't buy new wardrobe of clothes every season, put up with the old TV, get the car serviced regularly (it will last a lot longer!) swap clothes with friends, form a toy bank...oh I think you know what I am saying!
Cheers!
The credit card industry is the one industry this won't work with anymore. Credit has become a privilige; and one not easily gained or kept.
Sadly, this will only cause an increase in such illegal industries as loansharking and the like.
Sadly, this will only cause an increase in such illegal industries as loansharking and the like.
competition is in every aspect of business now, I lowered my monthly cable bill just by calling and asking what they could do to keep me as a customer as cable is a wnat not a need. Credit card companys ar often the same, if your a long time member try just asking, if they do not comply Id for sure transfer my balance to a zero percent interest, there are just too many options.
For the first time in years I have a 0 debt balance. I'd been in a long, drawn out legal battle with the IRS large claims diivision over some stock issues that have blown my credit rating for life.
I still can't believe I got out from under it without selling my soul :->
Until the credit card companies are reformed, I won't be using credit cards anytime soon.
I still can't believe I got out from under it without selling my soul :->
Until the credit card companies are reformed, I won't be using credit cards anytime soon.
Capitol One did that to me too...I had an excellent credit rating with them...they said it was nothing that I did...So I paid it off with another company "2 percent for the life of the loan." and advised Capitol One that I feel that I just got hassled by the no hassle company...Jerks....Man I had that card forever, was proud of it and to work with them...I told people about that awesome company....double jerks.
He advised me that they did it because they could....well lah de dah....I'll not ever work with them again..
We used credit cards to live on when we both got fired...things going out of country you know, but we went to school with the Nafta thing....both working again so far and trying to pay off those darn cards.
He advised me that they did it because they could....well lah de dah....I'll not ever work with them again..
We used credit cards to live on when we both got fired...things going out of country you know, but we went to school with the Nafta thing....both working again so far and trying to pay off those darn cards.
WOW! Barb thinks like me LOL! I also got this other debt for my student loans and could never pay well it was 9800$ and they sent to collection agency guess what my balance is now 14K $$!! They tacked on that much for taking it over!! And I said the same thing if i cant pay 9800 how in the world will i ever pay 14K!!
Cash advances are so ugly there was a report on the TV bout those and how they add on all this interest and how these people are in over their heads cant pay for it cant pay for their bills!! I think they need to do away with it personally!!
Good idea Teko i think education in HS about these CC's would help young people better understand them!!
Cash advances are so ugly there was a report on the TV bout those and how they add on all this interest and how these people are in over their heads cant pay for it cant pay for their bills!! I think they need to do away with it personally!!
Good idea Teko i think education in HS about these CC's would help young people better understand them!!
Unfortunately for MY friend, but fortunately for HER friends, she is a very generous person and hates to see anyone in need. Not to mention bills for other people that she put on her credit cards or bills of her own that had to go on credit cards because she loaned someone the majority of her paycheck so THEY could pay their bills then SHE couldn't pay hers........... Like I said - these things added up and one day she put ALL the credit cards in a pile and actually added up the balances - wow, that was a shocker for her.......
I understand so well how it goes and I remember you saying that you don't have insurance - I'm sure all the medical bills are hard to deal with - BUT there are agencies, etc that will help with some of that as well - that's part of what we pay taxes for. I'd much rather see someone who works and lost insurance get whatever benefits they can than to have those who aren't even here legally getting benefits that WE can't get.
To me this is a moral issue - not political, so please don't anyone crucify me....
I understand so well how it goes and I remember you saying that you don't have insurance - I'm sure all the medical bills are hard to deal with - BUT there are agencies, etc that will help with some of that as well - that's part of what we pay taxes for. I'd much rather see someone who works and lost insurance get whatever benefits they can than to have those who aren't even here legally getting benefits that WE can't get.
To me this is a moral issue - not political, so please don't anyone crucify me....
lol, I think they need to educate kids in high school about credit cards and how credit works. Not many people realize it until they are in over their heads and the credit cards love to pray on college kids. I know many who grabbed that card and ran with it and now all these years later still have ruined credit over it.
Barb, your friend did cash advances? Whoa, so shes into the big bucks as far as interest goes! It took me one time to figure that one out! lol I actually do not owe an exorbant amount on any of my cards but with the recession, prices, and my work is essentially gone until October, our income is cut in half. Usually I am able to save thru season to get us thru, but the man had to have surgery and we had to move to downsize our expenses and are still paying for the kidney stone and all the specialist bills. I would really hate to get rid of the computer, but I guess if it comes to that I will. :(
Barb, your friend did cash advances? Whoa, so shes into the big bucks as far as interest goes! It took me one time to figure that one out! lol I actually do not owe an exorbant amount on any of my cards but with the recession, prices, and my work is essentially gone until October, our income is cut in half. Usually I am able to save thru season to get us thru, but the man had to have surgery and we had to move to downsize our expenses and are still paying for the kidney stone and all the specialist bills. I would really hate to get rid of the computer, but I guess if it comes to that I will. :(
I think identity theft is everyone's worst nightmare. A few years ago, someone got hold of my debit card # and purchased approx $1000 worth of stuff and THAT came right out of our checking account - whoa--- what a nightmare. Fortunately, we had proof that WE were in a different state from where the purchases were made, so the bank gave us all of our $ back. The scary thing was, they (the bank) said it's cheaper for them to just give us our $ back than it is to find and prosecute the people who did it, so even though it didn't cost us anything, they were free to do the same thing to someone else. How horrible is THAT??
Credit can be a real blessing in emergencies, but if not used wisely, it can be a total nightmare. And it seems like the expenses sort of "creep up" - like a few $ here and a few $ there, and next thing you know, it's totally out of hand - that's what happened with the person I mentioned earlier who owes the $80,000. This person is very "giving", feels sorry for her kids, friends, etc and it was SO easy to get a cash advance --------
I hope all of you who have difficulties with credit card issues can get them straightened out. It's just too bad that a credit card company has the right to raise interest to 30% - just think - if someone can't pay a bill at 7.99% (or whatever) how can they possibly pay it with 4 X more interest???
That's another thing - a little off topic - but gets to me...... If you have a bill that you can't pay on time, they tack on a "late fee". Well, what good does THAT do?? If you couldn't afford to pay the original bill on time, what makes them think you can afford to pay the bill PLUS a late fee?? My daughter even had to move from her place a few years ago because she couldn't pay ALL the rent out of one paycheck and still buy groceries, etc so the landlord AGREED to let her pay 1/2 one week and 1/2 the next, but then he tacked on a $50.00 late fee.........
And THEY are supposed to be the "smart" ones.........lol
Credit can be a real blessing in emergencies, but if not used wisely, it can be a total nightmare. And it seems like the expenses sort of "creep up" - like a few $ here and a few $ there, and next thing you know, it's totally out of hand - that's what happened with the person I mentioned earlier who owes the $80,000. This person is very "giving", feels sorry for her kids, friends, etc and it was SO easy to get a cash advance --------
I hope all of you who have difficulties with credit card issues can get them straightened out. It's just too bad that a credit card company has the right to raise interest to 30% - just think - if someone can't pay a bill at 7.99% (or whatever) how can they possibly pay it with 4 X more interest???
That's another thing - a little off topic - but gets to me...... If you have a bill that you can't pay on time, they tack on a "late fee". Well, what good does THAT do?? If you couldn't afford to pay the original bill on time, what makes them think you can afford to pay the bill PLUS a late fee?? My daughter even had to move from her place a few years ago because she couldn't pay ALL the rent out of one paycheck and still buy groceries, etc so the landlord AGREED to let her pay 1/2 one week and 1/2 the next, but then he tacked on a $50.00 late fee.........
And THEY are supposed to be the "smart" ones.........lol
LOL dont say that i know his dad had another wife and other children!!
JK with you though!
I think the other kids are girls!
JK with you though!
I think the other kids are girls!
Are you sure we aren't married to the same men? Maybe they are long lost brothers?
LOL well I hope everything works out for you in the end.
LOL well I hope everything works out for you in the end.
Take ur time no need to rush it and i understand that you got kids you definetly need something dependable!! Thats why we havent rushed out to get a car even though this one broke a long time ago we didnt want the payment or to be stuck with a klunker so some how for the meantime we just manage to get around!!
The kids thing is another reason i want rid of this not only did me and my X buy it but its a 2 door and if we do have a family its just not gonna work it doesnt have a proper bkseat it just has those bucket seats! BUT DH insists we fix it we can get more money out of it!!
The kids thing is another reason i want rid of this not only did me and my X buy it but its a 2 door and if we do have a family its just not gonna work it doesnt have a proper bkseat it just has those bucket seats! BUT DH insists we fix it we can get more money out of it!!
Thank you and yes I have already turned down three cars because I didn't trust not only the car but the dealership it was coming from. My DH is getting aggravated at me and we have fought over me and my car decissions but after my CC going bad at 18 and that partially being his fault, I am going to take it slow and wait until I can get something I like and know isn't going to leave me and my kids stranded. Believe me I deal with that enough as it is with the car I have. No need getting a new one and having payments on a car that does the same that mine does.
Defininetly be smart on cars! With my credit being shot the last car i got was an eclipse that was being sold at the Mazda/Saturn dealership! They didnt tell me until i was LEAVING oh wait she needs the past time installed on it! I was like what the heck is that well its a lil device they stick on ur car and if you dont pay it shuts ur battery off!! This thing is the WORST thing i have ever had to deal with do NOT get a car if they tell they install past times on them! I would be somewhere and it would not turn on i would have to put in an emergency code or spend 20 mins on the phone getting a new one and one time it completly went off they towed my car told it had been disconnected and guess who got blamed? ME!! I had to pay the towing bill!!
And I supposedly thought i was getting a good car i even took it bk told them it made a wierd noise and they said it was fine well i only drove the car for 1 yr and the motor went out! My DH insisted on keeping it and paying for it so now i have paid or he has 7K $$ for a car thats been sitting in my driveway for 3 yrs!! I really want to sell it but the no payments thing i guess im gonna fix it someday!!
And I supposedly thought i was getting a good car i even took it bk told them it made a wierd noise and they said it was fine well i only drove the car for 1 yr and the motor went out! My DH insisted on keeping it and paying for it so now i have paid or he has 7K $$ for a car thats been sitting in my driveway for 3 yrs!! I really want to sell it but the no payments thing i guess im gonna fix it someday!!
My daughter did that. Went to a buy here, pay here lot and got a van. She paid cash, something like 6000. Drove it off the lot and 2 days later the transmission went out! Be careful if you do that and have a mechanic check out the car before you sign anything. And make them give you a report on the car, or you can get it online with the vin number. It will tell you everything that has ever been done to that car, if it has been wrecked, totalled, etc. Be a wise consumer.
Believe me I am trying to get a new car because mine well you know that adam sandler song Piece of**** car? Well that describes my car almost to a tee and well since my credit is shot it isn't easy to get a car. New, Used or anything without going to a tote the note lot then you don't know what kind of car your getting into.
OMG! That is everyones worst nightmare. I am trying to keep from letting mine default but it is getting really tuff. Im not sure credit is worth all the stress!
omgosh...you just have no idea. we have been battling identity theft for over two years now...it has been a freaking nightmare. these "ppl" have opened sooooo many credit cards in our name...of course we dont end up having to pay it because we have alerts out...but all our credit cards went up to around 30%. they will open up a card...the bill will be sent to a different address than ours (of course)...and then WE catch the heat because the bill wasnt paid. our credit is RUINED ! ! ! ! ! !
what is crazy is that the police will not even help us. these ppl have paid household bills...power, cable, etc....so they have an address...but we cant even get them to follow up on it and the credit card companies will not give us the addresses.
what is crazy is that the police will not even help us. these ppl have paid household bills...power, cable, etc....so they have an address...but we cant even get them to follow up on it and the credit card companies will not give us the addresses.
I did the SAME thing i was 19 and my stupid X was just SO convincing that i needed credit so me being young and dumb didnt read that fine print either and i thought when i was calling to chk my balance that was how much i had available WRONG it was how much I had spent and i didnt know that i got charged 150$ just for getting it and activating it!! So now i owe close to 1000$ for a CC that was to a 250$ limit!!
I hear ya! lol
I use them if I have to travel, airfare in an emergency or even medical bills and of course I have a balance where my kids borrowed money and never paid me back! So, I do believe they are handy but carrying a balance is something I did not want to do but it just happened and now, just stays there and does not seem to go down much!
I use them if I have to travel, airfare in an emergency or even medical bills and of course I have a balance where my kids borrowed money and never paid me back! So, I do believe they are handy but carrying a balance is something I did not want to do but it just happened and now, just stays there and does not seem to go down much!
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