CC companies and credit scoring ganging up on the good guys (pay, increase) - Personal Finance -debt, loans, credit cards, banks, insurance... - City-Data Forum

sirron · 02-13-2009, 05:06 AM

Here are two very interesting links for those who think they are immune from the schizophrenic credit card companies and the credit scoring bureaus:

Credit-Card Issuers: Buy Something or Else! at SmartMoney.com

Why the Credit Bureaus Can't Get It Right at SmartMoney.com

Pitt Chick · 02-13-2009, 11:37 AM

IDK - Discover just increased my limit by 2K, and AmEx tripled my husband's limit a few months ago.

I'm still feeling immune....

SuSuSushi · 02-13-2009, 11:40 AM

Quote:

Originally Posted by Pitt Chick

IDK - Discover just increased my limit by 2K, and AmEx tripled my husband's limit a few months ago.

I'm still feeling immune....

Yeah, me too. But maybe that's because I use my CCs wisely, and always pay more than the minimums (or pay them off completely).

Pitt Chick · 02-13-2009, 03:29 PM

I never carry a balance.

oleo · 02-17-2009, 03:58 PM

I disagree. Nothing has changed for me.

socal2009 · 02-17-2009, 10:25 PM

I had couple cards to reduce my limits drasticly-one from 10000 to 300, another one from 14000 to 2000. One of Amex-es closed my 10000 cc. No lates, no any negatives on my cr. 3 cards (from same company) increased apr to 29.99.
So things are happening.

I wont be surprised if there wont be cc available in couple years.

Huckleberry3911948 · 02-17-2009, 10:27 PM

credit card companies are not mentally ill, those who borrow at 50% interest however are.

socal2009 · 02-17-2009, 10:35 PM

Quote:

Originally Posted by Huckleberry3911948

credit card companies are not mentally ill, those who borrow at 50% interest however are.

That's true.

tabbcat · 02-18-2009, 06:46 AM

I've noticed that weird things have happened lately with credit cards I've just paid off. American Express closed my card, and Capital One raised my husband's interest rate. We've never been late on payments... it just happened as soon as we paid off our balances.

NCyank · 02-18-2009, 07:22 AM

I still think I'm immune. We use the card only for gas and an occasional planned purchase, it's paid off every month. Just what can they do to me...cancel the card?? Who cares?? Since I use it only for my convenience (not because I need credit) it would be pretty easy to find another way to pay.