Armed Polite Society
Main Forums => The Roundtable => Topic started by: 280plus on October 12, 2009, 08:06:11 AM
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I have their Visa. I thought it was the one card I could count on not to raise my rates and squeeze me for more money because I pay my bills. Not so. They just jacked me 4% on both purchases and cash. I called, talked to two brick walls and was told it was due to my credit "score" (which has been improving mind you) which did not qualify for the lowest rate. I said, "But it's improved!" How the hell can your credit score IMPROVE and suddenly not qualify for the rate you qualified for a year ago? They're saying it's due to the new federal legislation.
I was then told I should "write a letter" which I plan to do. Anybody here have any inside info/contacts I can use? The proper place to raise hell? I figure some of you mil types might also have dealings with them. I am completely torked about this. It's sickening. I told the "supervisor" it wasn't about money it was about integrity. I told her I thought I had been working with a company that had integrity for the last 32 years but apparently I was wrong. "I'm sorry you feel that way sir." Yea, ok...
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Mike Irwin used to work for them. Might see if you can contact him. If he's not responding to PM on here, I know mtnbkr knows him irl...
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AFAIK, he doesn't have any contacts there that would be of help.
Chris
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AFAIK, he doesn't have any contacts there that would be of help.
Chris
Yeah, but he might be able to help walk him through the bureaucratese.
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This is the big thing with credit cards now that the Dems are in power.
I was notified the my Master Card was going to go from 14% to 19% at the end of December. I was offered the opportunity to opt out before then and they would close the credit card and I could pay it off at the old rate. Since my daughter has been using this CC for the past few years I am going to shut ot down.
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Well, they are killing us and I'm getting pretty sick and tired of it. They're forcing me right out of business. I'm just disgusted with the whole thing. They've all quadrupled their minimums so it's getting to where I'm going to have to start tapping savings to keep up during the lean months. I am going to opt out, it's the only choice I have they told me to opt out and open a new card at the new rates. I told them if I opt out I will not open another card with them. Ah well, I'm just fishing for ideas here, no need to bother Mike.
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I told them if I opt out I will not open another card with them. Ah well, I'm just fishing for ideas here, no need to bother Mike.
Check with the Credit Unions in your area and see what their rates are.
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yup, I'm on the phone with my bank to see about the rates on a line of credit. Sounds fairly cheap so far.
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Yeah, but he might be able to help walk him through the bureaucratese.
you couldn't handle that truth :)
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This is why I have only ONE credit card that I use.
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That's strange. NFCU got hinky with me over a car loan a few months ago, so I went with CARMAX's offered rate, which was lower than NFCU's. That's never happened before, and I've been a member of NFCU for over 40 years!
TC
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I'm sad to say they've become as cutthroat as the rest of them. Plain and simple.
I feel like if this can happen, the world really IS going to hell in a handbasket. =|
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When I bought a new car five years ago, NFCU was not competitive with other local credit unions or even my bank, Bank of America. I thought that was pretty odd.
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Meanwhile, USAA still continues to beat all comers, including the local credit union. :D
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This is the big thing with credit cards now that the Dems are in power.
Wait. Am I to understand that banks are Democrat-controlled? ;/
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I believe new legislation re: CC's has been passed.
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Is that "Nevada Federal Credit Union" you're all going on about?
DD
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Navy Federal, sorry didn't know there was another NFCU. They're at www.Navyfcu.org
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Thanks, 280.
I'm breathing easier now.
DD
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Wish I was... ;/
:laugh:
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Wish I was... ;/
Don't worry. Obama will make it all better... maybe...
Awww heck. Probably not. Sorry. =|
DD
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Banks are making their lending standards more stringent. This applies to credit cards as well as everything else. Even if your credit score has improved, your score might still fall short of their new stricter standards.
Credit card issuers especially are doing the rate-raising and terms-changing thing now, due to onerous new legislation that will make it very difficult to do it in the future if it becomes necessary. If there's even the slightest possibility that they might ever need to raise your rates, they're gonna do it now rather than wait and have to fight the crazy new rules.
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All I know is they're taking those of us who have been able to maintain or improve our financial well being throughout this and driving us into the ground. They've gotten it to the point where I can't keep up and they don't care. It'll just end up meaning more of us will have to default becasue they've made it impossible to do otherwise. What pisses me off is this is over nothing I've done wrong but it's going to cost me dearly if I don't figure a way out of it. So much for what being a good loyal customer does for you. ;/
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I'm not sure what loyalty has to do with any of it. They have to run a business and stay afloat, which is becoming harder and harder due to government meddling and this government-created fiscal mess we're all in. I'm sure it's no comfort for you, but they're struggling just as much as you are.
In the end, we all have to take care of ourselves. They'll do what they have to for themselves, you'll do what you have to do for yourself, I'll do what I have to, and so on. And eventually we'll all get through it. Assuming the government doesn't come up with still more ways to screw us all.
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I believe new legislation re: CC's has been passed.
Yes. The minimum monthly payment rates were increased because some people complained about how long it takes to pay off a credit card and how much interest would be payed doing it that way.
For an off-the-wall example, if a person had a credit card with a $1,000 balance and he paid the minimum monthly payment of $19, the payoff would take years and the total interest paid would be much larger than the original balance.
So, someone complained and the government "fixed" it. Don't blame Obama; it started with Bush.
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I don't know. I'm a business and my customer base is determined by how well / quickly the customer pays up. Meaning I treat the good payers like gold and the slow ones might not ever see me back. Regardless of what's going on in the rest of their client base I believe those of us who paid more than the minimums on a regular basis for years and years should be given some consideration. Not just lumped in with the deadbeats. My biggest credit problem is I have several that are over half the value of the card. Want to know why? Because I consolidated higher rates onto lower rate cards. That's what they've been pushing, no? Now they're using it as a excuse to say my credit score no longer measures up, even though a year ago it was pretty good and has improved. What's happening now is those of us in that particular boat are pretty pissed about it and will basically pay the stuff down one way or another and then thay can all go **** themselves for good reliable customers.
It reminds me of the resturant business. It seems every place I ever cooked for, as soon as they told you to cut portions you knew the place was going under. Soon as you cut portions customers stop coming in and if you're already having $ trouble well, losing customers is not a good way for things to go.
Another thing they pulled. Now it seems that whatever you pay over the minimum goes to pay higher rate balances, so what did they do? Raised the minimums even more, of course. The NFCU card, for years every month it said my minimum was $0, zip, nada. Because I always paid so much more than the minimum, which I did last month as well. Just got the bill. My minimum this month is $331. I usually pay even more than that every month so what have they accomplished other than making it harder for me to pay down that small low rate balance so I can start wacking away at the higher rate? Too bad for them. The low rate balance is almost gone and, oh dear, I've stopped making purchases on their card.