Credit Card Companies - Absolute Sharks

[wrinkleigh]

Well, we quit using and paying the CC's three months ago. I have had at least one of these accounts since 1994, and never missed or made a late payment.

So far we have received these very nice letters from 4 companies, that have "reviewed our account" and decided that they were going to lower our credit limits.

I find it humerous that every single one of them has lowered the limit BELOW what we owe on them. For example:

Bank Former Limit Balance Owed New Limit
BOA $20,000.00 $15,000.00 $12,000.00
Discover $18,000.00 $14,000.00 $5,000.00
WAMU $20,000.00 $10,000.00 $ 5,000.00
AMEX $ 5000.00 $ 4800.00 $ 500.00

So, I now owe skyrocketed interest fees, late penalties, and NOW over limit fees because THEY lowered my credit limits.

At this point I find it humerous, they prey on people who are least able to do anything about it.

Anyway -- just venting. I will be so glad when this is all over.

[Princesskina]

^^^ WOW....

That sucks badly someone had a funny quote in there siggy about lenders.

Something about how they'll give u an umbrella but take it away as soon as it rains.

[BassBoy]

Ha-Ha! That's my siggy Pincesskina.