Capitalist Pigs!

[Kollerkrot]

Oh...I am on a roll! I just found out that yet another one of my creditors raised interest rates. Mind you, I have good credit always pay my bills on time. They have the guts to raise my interest rate by a full 6 percentage points in one swoop. I consider that extortion!

I am one disgruntled customer...and I am tired of being controlled by Capitalistic Pigs! They're messing with the wrong German here...I am closing the account! They had a secure 8.9% interst and due to economical challanges raised to 14.9%. Now they get phucking nothing! People are so stupid !

[Brit4064]

Don't worry Koller, davdah will explain why LOL

[ProudUSC]

I say we pay off any outstanding balances and boycott the credit card companies!!! Crooks!!!

[Kollerkrot]

Originally posted by ProudUSC:
I say we pay off any outstanding balances and boycott the credit card companies!!! Crooks!!!

Proud, that is exactly what I am doing! I made that plan approx. 6 months ago. I am down to two revolving credit cards. Once these are gone, I have only the house and one equity line of credit secured by the house.

They can all go down the drain as far as I am concerned.

Down with the Pigs!

[SonofMichael]

What a moron. Kollerkrot doesn't even know that government controls interest rates and that the massive borrowing by Obama is forcing them to raise rates even more. Except for me of course. I took advantage of Obama's bailout plan and am saving $12,000 a year on mortgage interest at taxpayer expense !
Love it !!!

[Kollerkrot]

Originally posted by SonofMichael:
What a moron. Kollerkrot doesn't even know that government controls interest rates and that the massive borrowing by Obama is forcing them to raise rates even more. Except for me of course. I took advantage of Obama's bailout plan and am saving $12,000 a year on mortgage interest at taxpayer expense !
Love it !!!

You must have been in default with your mortgage then. I am not! However, I already have a very low (5.5%) fixed mortgage and I am not interested in refinancing.

The account that I am refering to above is carried by Barklays Bank. They are in deep s.hit and have now in-part spread their bad choices onto the credit card holders. I want no part of it - I didn't help them make the choices - I am not going to pay for them!

[federale86]

Eat lead commie.

[Kollerkrot]

Originally posted by federale86:
Eat lead commie.

You go and pay my credit card with the 14.9%. I'll shot up and glorify capitalism!

[Kollerkrot]

Originally posted by davdah:
We can thank people like my X who ran up a 17k debt to Amex and stiffed them for it. Actually had the nerve to think that I should cover it since she used be the ball and chain. We need to make people accountable for thier actions instead of making it so easy to dodge it.

Want to place a bet that my interest rate will be back to what it was? They need me don't they?

Here is their response to my letter:

Thank you for contacting us regarding your ....Card account.

We understand your concerns and would like to apologize if you have received anything less than superior customer service from us. We appreciate the time you have taken to provide us with this valuable feedback and assure you that it has been forwarded to the appropriate department for review.

Please know that it is our goal to provide our customers with exceptional customer service and we regret to learn that we have not exceeded your expectations.

We appreciate your business and look forward to servicing your financial needs.

If you have any other questions please reply to this e-mail.


Sincerely,

[Kollerkrot]

Originally posted by davdah:
The typical blow off letter. Call them and give the ultimatum. Lower the rate or close the account. I bet you get some results.

I'll give'em a few days. It's weekend and I did tell them I would close the account. I have to give them a chance to present it to management. These are no decision makers I am dealing with here.

[Kollerkrot]

Originally posted by davdah:
<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Brit4064:
Don't worry Koller, davdah will explain why LOL

Of course I will, LOL. It is capitolism by definition. In a free market you decide what to buy and who to buy it from. Since this card raised its rates you have the option to go elsware, not use the card, or try to negotiate with them. The card issuer can either take the hit or lower their rate. This isn't any different than shopping for anything. Value versus price versus budget.

A big reason why most issuers raised rates is the number of defaults. It's very high now, over 10%. The issuers were more or less forced to offset their negative portfolios. Another factor is the boom in debt renogotiation. We've all heard their commercials saying they will lower your credit card balances and mortgage loans. Problem is. That debt write off is going to get covered by those of us who do pay their bills. Lastly, the card companies are getting very agressive about collections. There are some low rate cards out there, just have to look for them.

This is not much different than obama's bailouts. The losses from all those bad mrtgages are going to be paid for by all of us. You don't have to resign yourselff to a loss. Obama's plan resulted in massive numbers of cheap foreclosed houses that within a couple years will recapture their value. The banks will rebound sharply in valuation in the same time period. Some already have. Others will soon enough. Tons of money to be made in undervalued real estate and stock prices. We can either complain about having to pay off someone's debt or do something about it. I look at it like this. Its only fair that since I have to pay some clown's mortgaage that I might as well collect rent from him while he's living in the house he used to own. In a couple years I'll sell it for 3 or 4 times what I paid for it. Thank you Obama. </div></BLOCKQUOTE>

You had to rub it in...didn't you? I can't do anything because I have to wait until I know where I will be continuing my life.

[Brit4064]

We need to make people accountable for thier actions instead of making it so easy to dodge it.

Sure. I'm all for it. I say start with those banks that repackaged bad debts and sold 'em off as a "going concern" LOL if they hadn't been allowed to do this, we probably wouldn't have had the crash last year. Why do you think banks like Barclays are in deep sh*t now?

Money laundering is illegal so this practice should have been too.

[Hudson]

Originally posted by Kollerkrot:
Oh...I am on a roll! I just found out that yet another one of my creditors raised interest rates. Mind you, I have good credit always pay my bills on time. They have the guts to raise my interest rate by a full 6 percentage points in one swoop. I consider that extortion!

I am one disgruntled customer...and I am tired of being controlled by Capitalistic Pigs! They're messing with the wrong German here...I am closing the account! They had a secure 8.9% interst and due to economical challanges raised to 14.9%. Now they get phucking nothing! People are so stupid !

I would not close it Koller. Afterall 14.9% is way lower than the median 19.9% rate that most people have.

[Kollerkrot]

Originally posted by Hudson:
<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Kollerkrot:
Oh...I am on a roll! I just found out that yet another one of my creditors raised interest rates. Mind you, I have good credit always pay my bills on time. They have the guts to raise my interest rate by a full 6 percentage points in one swoop. I consider that extortion!

I am one disgruntled customer...and I am tired of being controlled by Capitalistic Pigs! They're messing with the wrong German here...I am closing the account! They had a secure 8.9% interst and due to economical challanges raised to 14.9%. Now they get phucking nothing! People are so stupid !

I would not close it Koller. Afterall 14.9% is way lower than the median 19.9% rate that most people have. </div></BLOCKQUOTE>

Sorry Hudson, I don't think like that. I am not in love with the banks. I would never pay 19.9% interest ever.....I am not even willing to pay 14.9%. I made them an offer...they either lower it to what it was prior to the hike or the lost a customer. The choice is theirs!

Actually the only reason why I have credit cards is because you have to have credit in order to be someone in America. That is also something I more or less consider being controlled.

[federale86]

The new avatar is best.