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SoCalDem Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-04-11 11:32 AM
Original message
Dear Capitol One,
this article reminded me of an oldie I wrote 5 years ago.. Maybe we need to get "all up in their faces" :rofl:

http://www.nytimes.com/2011/09/02/business/global/europ...

snip:
The part of the rescue announced in July is subject to the approval of Germany and the governments of the 16 other member nations of the euro union in coming weeks. If investors balk at the 21 percent write-down that is the price for getting a deal done, the whole package could collapse. European governments would be hard-pressed to come up with those extra funds themselves.

But with the price of Greek debt trading in some cases at 50 cents on the dollar even lower than when the bailout deal was announced in July the 21 percent haircut seems to be quite a bargain.

As a bonus, the new bonds would be governed by international law, rather than Greek law. That is a significant alteration of lending terms that would strengthen the negotiating hand of the bondholders if Greece eventually concluded it had no alternative but to default even after this latest bailout.

snip........................
this article reminded me of an oldie I wrote 5 years ago.. Maybe we need to get "all up in their faces" :rofl:


###############################################
Dear Capitol One,
Posted by SoCalDem in General Discussion ..Wed Nov 14th 2007, 03:50 AM


Guess what's in MY wallet? NOT your credit card anymore..or any other ones, for that matter



I read in the papers and saw on tv how you and your pals are "writing down" billions of dollars-worth of debts, because your Harvard MBA geniuses apparently could not understand how a Ponzi scheme works.

I am sure that you will then understand how I and my debt-ridden cohorts are now deciding that if "experts' like you people can get "caught unawares", you will certainly understand why we are "writing off OUR debts" to you and your pals.

We don't even owe you billions, and if we had been blessed with atomic microscope vision, a legal degree, and the patience of Job, perhaps we might have made it through all your where-as-es, and party-of the-first-parts in that tissuey, 14 page love note you send with your statements.

So unless you really want the cocoa-stained, peed-on couch we've been paying on for three years now, or the outgrown shoes that Johnny left on the back seat of the car that got repossessed last week, or the other stuff we have paid for many times (with the late charges and 35% interest rates), this letter will have to do.

Thinking about coming after our house? Good luck.. the bank and the 2nd mortgage holders are duking it out with the 3rd mortgage holder. We're sleeping on inflatable mattresses in my sister-in-law's family room.

So you say you'll ruin our credit? Take a number..




sincerely..

Mr & Mrs Chumps-Nomore
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Odin2005 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-04-11 11:36 AM
Response to Original message
1. Capital One are the pillaging barbarians they have on their comercials.
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mzteris Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-04-11 11:46 AM
Response to Original message
2. Capitol one is the only one
who would give me a credit card with a very modest credit limit. After 5 months of on-time payments, they raised it a moderate amount.

I'm only using it to reestablish credit (thanks to non-bill paying ex husband!!! My credit before that was EXCELLENT, thank you very much) and when I travel to pay for hotel/rental cars.

I know several people who've been in the same boat and Capitol One came through for them, too. NOT having a credit card makes transacting business difficult - if not impossible - in certain situations.

Maybe they have done - are doing? - crap just like every other financial institution, but they seem to be trying to do something for some of us. MY OWN DAMN BANK - the one that has my money and my mortgage - which I have always paid over minimum and ON TIME - wouldn't give me a damn credit card. Not even secured by my equity. bastards.

I can't talk bad about Capitol One at this point. If you have "bad credit" and you need a card, I suggest giving these guys a try. Your credit limit may be laughably "low", but they'll let you build it up if you pay it on time.
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SoCalDem Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-04-11 11:50 AM
Response to Reply #2
3. I didn't think I needed the :sarcasm: thingie
:sarcasm: intended ..

Itl;s not about "me".. :rofl:

we have ONE card Discover, and do not carry a balance (makes us deadbeats :)..)
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TheWraith Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-04-11 01:51 PM
Response to Reply #2
8. I applied for a Capital One credit card about four years ago. It would have been my first CC.
They turned me down.

Then, after I lost my job about two and a half years ago, I started getting "pre-approved" credit offers from them. I've hardly had a month go by since then when I didn't get something from Capital One. Never bothered to apply again, since I couldn't afford it even if they gave me one.
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Sheepshank Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-04-11 12:08 PM
Response to Original message
4. Capitol One is the only CC I ever had
that raised my fixed interest rate from 7.99%, to a 29.9% variable because of one late payment on a $300 balance. I called them and told them to close my account. They told me they would be willing to lower it to 19.99%. I told them to close the account. They then came back and said I could possible get 9.9%. I told them to close the account. No more. I am so done with them in particular. They cannot offer me anything they aren't willing to find a way to change. Fool me once......
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bengalherder Donating Member (718 posts) Send PM | Profile | Ignore Sun Sep-04-11 01:15 PM
Response to Reply #4
6. So did they close the account?
My experience with them; I would send them everything they had billed and call the company to let them know I had done so and closed the account. Then they'd try to talk me out of it offering laughable terms. I would reiterate my demand. They would counter and I would refuse. Then they would apparently acquiesce, only to send me bill with a 35.00 late fee for some miniscule amount that was tacked on somewhere in the fine print. The second time it happened, I let my basso profundo husband deal with the assholes and stopped the cycle there.

They send me loads of junk mail to this day and I am not in the least tempted.
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lunatica Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-04-11 12:15 PM
Response to Original message
5. I declared bankruptcy a year ago
No credit cards. It's not easy, but I sleep better.
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bengalherder Donating Member (718 posts) Send PM | Profile | Ignore Sun Sep-04-11 01:25 PM
Response to Reply #5
7. I did so a few years back.
It too has been a relief.

Just keep your paperwork handy. For years after I used to get collection calls from obscure agencies who had bought a chunk of my debt and few were quite rude. It helps to be able to access this stuff quickly and be able to get duplicates from your lawyer when needed.


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lunatica Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-04-11 02:15 PM
Response to Reply #7
10. Thanks for the advice
I'll make sure to keep the papers handy.
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jwirr Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-04-11 01:56 PM
Response to Original message
9. I love that letter. That is the point of this whole damn collapse. The
Edited on Sun Sep-04-11 02:04 PM by jwirr
banksters, credit companies, shysters have destroyed our lives and now want to write down their self-made mess.
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