Credit Card Co's weeding out customers (pay, account, balance, default)

[trishguard]

And in some cases using incentives or disincentives to make their balances go away.

http://finance.yahoo.com/banking-bud...ke-You-Go-Away

[Sam82]

Interesting. The CC companys are mad at those of us with no balances and now they are mad at people who carry balances. Basically they are mad at everyone and doing desperate things right now.

[sierraAZ]

Originally Posted by Sam82

Interesting. The CC companys are mad at those of us with no balances and now they are mad at people who carry balances. Basically they are mad at everyone and doing desperate things right now.

He-he, at least with us they get their fees from the merchants and aren't left holding the bag. WTH do they want?! I'm aware they don't like it, though.

[sonarrat]

After reading this I called my credit card co. They gave me the details of the repayment plan they would offer someone who was past due:

- 0% interest rate
- 46 month repayment
- At end of repayment, account is closed
- Automatic monthly draft from bank account
- Miss a payment due to a returned check, it must be made whole the next month or it reverts to default interest rate
- No additional tax/credit consequences because no principal is being forgiven

[sonarrat]

Also, the Citibank plan cited in the article is only being offered to people who are over their credit limit. They get a matching payment the more they pay beyond their minimum.

[le roi]

Originally Posted by trishguard

And in some cases using incentives or disincentives to make their balances go away.

http://finance.yahoo.com/banking-bud...ke-You-Go-Away

Good, maybe that will help prevent, or at least postpone, the next credit bubble.

[trishguard]

Never would have guessed I'd be one of those to be weeded out. lol