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radfringe Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-14-09 09:01 AM
Original message
don't tug on superman's cape and don't mess with my partner...
She just ripped Capital One rep - up one side and down the other

about a month ago, they raised her rate. She's never missed a payment, never late with a payment. Has had the card for a few years.

when they raised the rate - she called and tried to get them to lower it, they wouldn't - said they raised the rates because economy is bad. What that means it doesn't matter what YOUR credit rating is, they are going to raise your rates any time they want

ennywho - she paid off the card and canceled it approximately 3 weeks ago

she just got off the phone with a Capital One rep - wanted to know why she canceled the card...

she laid into him - "I canceled the card because you raised my rates and wouldn't negoitate to lower them"

then the rep went into a spiel about "special offers" if she opens account

partner: "HA! so you can raise my rates any freaking time you want??? I'll NEVER have an account with you people any more. I hope this call is being recorded - because you people are a bunch of freaking greedy blood suckers! How the hell do you expect people to make their payments when you keep raising the rates. If you were freaking smart - which obviously you aren't - you would be lowering the rates to help people and in turn help the economy - but noooooooooooooooo you just raise the rates any freaking time you want."

then the rep says "Are you saying you were disatisfied with your Captial One Experience?"

partner: You people are freaking idiots. Take me off your list and never call me again.

--------

that was the reader's digest version, profanity has been cleaned up... :rofl:
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graywarrior Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-14-09 09:06 AM
Response to Original message
1. I just got a letter telling me they were raising mine in 2010.
I may just pay it off and cancel.
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geckosfeet Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-14-09 09:13 AM
Response to Reply #1
6. What do you mean "may"?
Edited on Sat Mar-14-09 09:13 AM by geckosfeet
I have a bank ATM/check card - no interest charges but I do get charged an ATM fee if I use an "out of system" ATM.

Also have a card (shall go unnamed) that charges a simple yearly fee but requires balance to be paid in full at the end of the monthly payment cycle.


I pay NO interest on my "credit" cards.

My advice to everyone who can - DUMP the cards that charge interest.
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proud2BlibKansan Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-14-09 09:28 AM
Response to Reply #6
10. Me too
Haven't had a credit card in 25 years. It's the only way to deal with this crap.
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SheilaT Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-14-09 10:29 AM
Response to Reply #10
14. So how do you book
plane rides on line? Of course, for all I know you simply never fly anywhere. How about when you go to rent a car? Of course, you might never rent a car. Or rent a hotel room? Same thing. Obviously I'm obsessed with travel. :)

I always try to keep in mind that not everyone lives the same way I do, or wants to live the same way I do. But I do find a credit card or two absolutely vital. I almost always pay off the balance every month, and so pay very little interest charges.
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proud2BlibKansan Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-14-09 10:58 AM
Response to Reply #14
18. Debit card
I have never booked a train ride but I have rented cars and I am getting on a plane early tomorrow morning after buying the ticket with my debit card. I have never had any problem using it - as long as the funds are in my account of course. :)
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SheilaT Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-14-09 09:39 PM
Response to Reply #18
30. Interesting.
I am not a fan of debit cards because they become a credit card with high rates if you don't have money in the account. My older son got into a bit of a financial hole when he first went off to college because neither he nor I knew that. I thought that if there wasn't money, the debit card would be refused. Silly me!

But good financial planning on your part.

I guess I was recalling back to before debit cards, and simply didn't take them into account.
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geckosfeet Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-14-09 01:29 PM
Response to Reply #14
20. No interest credit card.
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graywarrior Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-14-09 09:51 AM
Response to Reply #6
12. I believe if you cancel a cc, your credit rating goes down.
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proud2BlibKansan Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-14-09 10:59 AM
Response to Reply #12
19. That is the downfall to not having credit cards
But I have never been refused a car loan or a mortgage. And those are the only two things I want credit for.
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geckosfeet Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-14-09 01:29 PM
Response to Reply #19
21. My credit is great. Have NEVER had an interest charging credit card.
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graywarrior Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-14-09 01:37 PM
Response to Reply #19
24. If you live within your means, it's not necessary to have a cc
CC's are good for emergencies....like auto repairs, etc. Other than that, they are dangerous. I only use mine when I know I can pay off the balance the following month.

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babylonsister Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-14-09 09:06 AM
Response to Original message
2. Love it! Good for her! Rec'd! Now, if more poople would do that... nt
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DCKit Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-14-09 09:19 AM
Response to Reply #2
7. They're making a killing off every/anyone who doesn't know better.
A friend of mine called and went OFF on Comcast last week when they raised his cable bill by 80% - as if $115/month wasn't enough of an insult. I reminded him that he can get a NetFlix account and an HD antenna and wouldn't miss anything but Bill Maher and the current episodes of Dexter and Weeds (if it ever comes back... WTF is up with that?).

Citi sent me a notice that they were raising rates to 23% last month, but, since I've already cancelled the card, I'll continue paying 12.85% - still way beyond the original agreement of "prime + 4%", but tolerable.
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KittyWampus Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-14-09 09:10 AM
Response to Original message
3. Kudos on the rant to C.O. BUT advice given by DU'ers in know say DO NOT CANCEL CARDS
just stop using them.

Canceling them does have an effect on your credit score.
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radfringe Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-14-09 09:12 AM
Response to Reply #3
5. according to the cred-card rep
they raise your rates - doesn't matter what your credit score is... it's become a meaningless number
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trotsky Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-14-09 09:28 AM
Response to Reply #3
9. Having a credit card with zero balance is a bad thing.
When you apply for financing in the form of a mortgage or other loan, your credit report will include credit accounts that you have - with their max limits. That is part of the calculation of risk for loaning you money - because if you have a credit card with a $20,000 limit and nothing on it, the loaning institution has to assume that you could very well go out and run up $20,000 of debt that now you have to pay off in addition to their loan.
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SheilaT Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-14-09 10:31 AM
Response to Reply #9
15. Not necessarily.
I am in the process of buying a home, and the lender wanted me to pay off my one credit card balance -- it was all of $700 -- and doesn't seem very concerned that I have a $25,000 limit on that card.
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trotsky Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-14-09 10:45 AM
Response to Reply #15
16. That is how my mortgage broker explained it to me when we bought our first house.
We had established a good rating by making regular payments, and keeping a tiny rollover amount on a couple of cards to establish a consistent payment history. However we had a few "store" credit cards that we didn't use anymore, but which had a few thousand dollars of available credit. He advised us to get rid of those, close the accounts, because they are potential debt. Of course maybe 15 years ago banks cared more about that kind of thing.
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geckosfeet Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-14-09 01:30 PM
Response to Reply #16
22. Mortgage broker - enough said.
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trotsky Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-14-09 04:39 PM
Response to Reply #22
28. Except mine wasn't one of the idiots.
Nice broad-brushing, though.
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geckosfeet Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-14-09 08:43 PM
Response to Reply #28
29. One of the few.
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we can do it Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-14-09 09:28 AM
Response to Reply #3
11. Yeah- Too Many Stupid Accounts Lower Your Score, Not To Mention Security Breeches
cancel all the shit you don't use, and pay cash when possible. How often do we hear "ooopsie, all customer files have been accessed, your identity is at risk"? Credit unions may be a good option.
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radfringe Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-14-09 09:11 AM
Response to Original message
4. I've been "noodling" my brain
trying to come up with some idea how to organize some sort of Credit Card consumer revolt...
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MindPilot Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-14-09 09:24 AM
Response to Reply #4
8. How about we take a cue from the French?
Hold the CEOs hostage.
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cbc5g Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-14-09 09:56 AM
Response to Original message
13. Your partners a fuckin asshole. They have a job to do, they don't make policy
Thats like making fun and insulting indian telemarketers. Grow up.
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cliffordu Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-14-09 10:58 AM
Response to Reply #13
17. lol
You might want to add a sarcasm smilie...there are many here without funny bones.....
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hfojvt Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-14-09 01:57 PM
Response to Reply #17
26. Why do you think that was sarcasm?
Having worked at a call center, I can definitely tell you that I did not make policy.
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geckosfeet Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-14-09 01:31 PM
Response to Reply #13
23. Please remeber to use the sarcasm smiley when appropriate.
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madokie Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-14-09 01:48 PM
Response to Original message
25. Sometimes when it comes to your money and other people that want to separate you from it
You have to get western with them. Sounds like your SO did just that by taking the bull by the horns. Good on her.
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hfojvt Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-14-09 02:05 PM
Response to Original message
27. wow, I bet that $11 an hour receptionist regrets making that policy
Or not.

Also, not much of a negotiator. If you really wanted a lower rate, often the person on customer service cannot give you one. I did that job. You run it through the computer and see what the computer tells you. I, as entry level phone person, have very limited authority and power. If you really want lower rates, you need to ask for a supervisor, and/or threaten to cancel the card. If they want to keep you as a customer, they will then transfer you to their retention department, and those people have much more power to lower your rates and such. Although, actually if a customer threatens to cancel the card because of their rate, often the computer would then give me the power to lower their rate to keep them. But you have to know the magic words and they are not profanity.
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