8 thoughts on “Have You Gotten A Raw Deal From A Credit Card Company????

  1. My LL Bean credit card offered “convenience checks” at a rate of 3%. When I got the bill the “effective annual percentage rate” is actually 65.99%!

  2. My wife an I have 2 credit cards that have screwed us over lately. we make payments on them on time every month (as will all of our cards). When Citi was given their bail out they turned around and raised our rate from 9.2% to 26.5%. When WAMU was bought out by Chase they “made a buissness decision” to raise my rate from 12% to 26%. It seems like we are bailing out these banks and they are turning around and double billing us. We want to cancel them both, but they have our lowest balance, and we don’t want to seriouslty alter our avaliable credit numbers.

  3. I think I’d have to see documentation on that, Nancy. Those convenience checks are all teasers. It amazes me that people would even think of using them. They ought to be torn up immediately upon receipt. Rachel, you need to check the stories you receive here. Many times people don’t have their facts straight or faled to read the fine print.

  4. my cc company said they recieved my full payment 1 day late and charged me $40 in finance fees, but they said i was lucky that they waived another $40 in late fees ( I have never carried a balance)

  5. I had a CITI mastercard. When I first got it the rate was 7%. Then after a year it went to 14%. About a week ago I got the change in terms notice and they were going to raise it to 29%. I had never been late with a payment and the account didn’t default. I called them to question it and the guy wouldn’t give me a straight answer and my only options were to agree to the 29% or close the account, so I closed the account.

  6. Any convenience checks I have ever received charge a 3% transaction fee just to use them. Then the balance is subject to another rate, usually a cash advance rate which is much higher than the purchase rate for that card. Do the math first to decide if it is really a good deal. I agree with a previous poster, they should be shredded upon receipt. They are hardly ever a good deal.

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