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most of my credit cards have increased my interest rates to the neighborhood of 18.99%. My credit score? 771.
I probably will not use my credit card....just let the banks waste their money on sending me statements and handling my zero balance account....and wait for the 0% promotions again before I use any of them again.
then again, if any of you need credit cards....local credit unions seem to have the best rates.
most of my credit cards have increased my interest rates to the neighborhood of 18.99%. My credit score? 771.
I probably will not use my credit card....just let the banks waste their money on sending me statements and handling my zero balance account....and wait for the 0% promotions again before I use any of them again.
then again, if any of you need credit cards....local credit unions seem to have the best rates.
My Credit Union has a card with a 7.9% fixed rate. I never carry a balance on my card though.
I can't believe anyone is still defending credit card companies!!! Maybe you work for them. I, for one, have had it. They've become glorified loan sharks charging 20 and 30% to people with perfect credit. They can go to hell. I'm closing all of my accounts and paying cash.
Honestly, I would close out my CC if I could. You can't buy an airline ticket, reserve a hotel room, or rent a car without one. THat's the ONLY thing stopping me. I don't even buy things online.
Yes, but if a customer rarely uses the card, the merchant fees are not going to be enough to cover the costs. Maintaining a card costs the credit card companies money (don't ask me how much, but there are obviously expenses like pulling credit records and insuring cards against fraudulent use that firms must bear).
At the end of the day, though, it's business and economics. Cards will charge whatever the market will bear. If some company is able to run its affairs in such a way as to generate enough money purely from the merchant fees, then they'll win on competitiveness.
So you are saying they have been doing out of the goodness of their hearts all of these years.
You young whippersnappers are too young to remember, but all Visa/Mastercards used to charge annual fees. And we gladly paid them for the convenience.
I know in our household we'll close most of our accounts, and just keep two -- one for business and one for personal. And the winners will be the lowest annual fee.
But more importantly I think the whole FICO score hostage drama has to stop, too.
I was never glad to because even back then there were banks that offered cards without the annual fee.
Honestly, I would close out my CC if I could. You can't buy an airline ticket, reserve a hotel room, or rent a car without one. THat's the ONLY thing stopping me. I don't even buy things online.
Actually you can use a debit card for ANY transaction that you can use a credit card for, including airline tickets, hotels, and rental cars. The only possible reason I can see when that is not the case, is if there is not enough money in the checking account to cover the amount they sometimes put on hold for car rentals and hotel charges. But, even then, you can use the credit card to make the reservation and then just use cash or debit when you check out/return the car. I, for one, am not giving the credit card companies one more dime... EVER.
What about a rental car or airfare? Have you tried that?
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