How Long before the lawsuits

[SinkingFast]

As a matter of fact, it was Chase and also was Citi. The one I got today, which really surprised me was AT&T (I only owed them a small amount, like 1200 bucks,)...they raised my rate to 31.33% for no apparant reason. I have decided to put them in a pile to not pay now.

We have an AT&T card. Ours is backed by Citi.

While AT&T is in big bold print, CitiGroup is noted very small, on the back of the card and on the statements.

[aa06a47]

We have an AT&T card. Ours is backed by Citi.

While AT&T is in big bold print, CitiGroup is noted very small, on the back of the card and on the statements.

Yeah, that is what my credit counselor said when he talked about the consolidation loan....that citi and AT&T were actually the same company.

[aa06a47]

Similar story here! Interest rates got jacked up to 30% range combined with higher minimum payment requirements...no way I could come close to making everybody happy. The gov't did this to themselves with all the freedom it gives to CC companies. I had to get out before it got really bad.
The calls start at 8 and end at 9PM. We don't answer, caller ID is a great investment! They can't call at work anymore because I told them not to.
I explained to one company that I was going to be filing BK and since his company decided to raise my rate to 30 something percent interest instead of what it was they weren't going to get any money from me now! They would have been better off keeping the payment reasonable and I could have continued to pay them...their loss! (It was Sears by the way) Then they all started doing the same thing...unbelievable. But I do have a decent past credit history. I have paid for 2 previous car loans, CC's, etc. So hopefully they won't challenge me on this!

I am hoping the same thing. My CC advances put me at a high risk for a challange, but since I was making all the payments until they doubled payments, then 10x'd my interest rates in some cases, I feel I have somewhat of a good defense. Of course, my luck, I'll file bk and end up oweing more than when I started...(is that even possible?LOL)

[Minnymouth]

At&T is owned by Citibank, and Sears, Shell, etc is owned by Chase.... so some of the banks own a bunch of the credit cards issued.
If you make a late cc payment or late utility payment THEN they raise the interest rates on ALL CARDS......

Talk about making "bucks" the sneaky way..... huh!!!

[GoingDown]

Similar story here! Interest rates got jacked up to 30% range combined with higher minimum payment requirements...no way I could come close to making everybody happy. The gov't did this to themselves with all the freedom it gives to CC companies. I had to get out before it got really bad.
The calls start at 8 and end at 9PM. We don't answer, caller ID is a great investment! They can't call at work anymore because I told them not to.
I explained to one company that I was going to be filing BK and since his company decided to raise my rate to 30 something percent interest instead of what it was they weren't going to get any money from me now! They would have been better off keeping the payment reasonable and I could have continued to pay them...their loss! (It was Sears by the way) Then they all started doing the same thing...unbelievable. But I do have a decent past credit history. I have paid for 2 previous car loans, CC's, etc. So hopefully they won't challenge me on this!

A similar thing happened to me about 3 months after I stopped paying a few of my credit cards. Now all of my credit cards, even the ones I was going to keep paying on, went up to over 30% finance charges, not to mention the over the limit fees and late charges on the ones I wasn't paying. Why doesn't the government do something to protect consumers from such outrageous fees? There's no way any average person could afford to pay off such debts with these overwhelming fees.

[gacreditguy]

That is why I can sit here and type this and know I made the right choice.. I was paying everything without a major problem and then one day Chase jacks my rate from 7.99% to 29.24%. Then the snowall effect started with all of my others! I fully take responsibilty for my screw up and error in not managing my credit, credit cards and finances like i KNOW that I should have but I have to say that these cc companies HAVE to know what they are doing when they jack rates and people bk on them... The cc companies are asking for it!

There should be laws in place that prevent this from happening to people..

[aa06a47]

That is why I can sit here and type this and know I made the right choice.. I was paying everything without a major problem and then one day Chase jacks my rate from 7.99% to 29.24%. Then the snowall effect started with all of my others! I fully take responsibilty for my screw up and error in not managing my credit, credit cards and finances like i KNOW that I should have but I have to say that these cc companies HAVE to know what they are doing when they jack rates and people bk on them... The cc companies are asking for it!

There should be laws in place that prevent this from happening to people..

AMEN!!!!!!!!!!!!!!