Comments on: Credit card Catch-22 http://blogs.ajc.com/business-beat/2009/11/20/credit-card-catch-22/ Get inside Atlanta\'s and national business news and how it affects you. Thu, 16 Feb 2012 03:28:12 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Tax Dude http://blogs.ajc.com/business-beat/2009/11/20/credit-card-catch-22/comment-page-1/#comment-5113 Tax Dude Thu, 03 Dec 2009 00:50:55 +0000 http://blogs.ajc.com/business-beat/?p=3187#comment-5113 Is this what the credit card industry has come to? A spending quota in order to avoid being ripped off. I am still surprised that there are people who pay double digit interest rates for carrying balances. There are so many low introductory rates that I cannot understand why anyone would willingly pay double digit interest rates. simply roll the balance each time to a new card before the introductory rate expires. http://www.edisonaccounting.com Is this what the credit card industry has come to? A spending quota in order to avoid being ripped off. I am still surprised that there are people who pay double digit interest rates for carrying balances.

There are so many low introductory rates that I cannot understand why anyone would willingly pay double digit interest rates. simply roll the balance each time to a new card before the introductory rate expires.

http://www.edisonaccounting.com

]]> By: howard http://blogs.ajc.com/business-beat/2009/11/20/credit-card-catch-22/comment-page-1/#comment-5092 howard Sat, 28 Nov 2009 14:44:22 +0000 http://blogs.ajc.com/business-beat/?p=3187#comment-5092 why anyone would use citibank or bankofamerica for anything? i have a bofa credit card that i never use and have read bofa is thinking about charging a fee for its customers who do not use their card and/or pay the balance off in full each month. i've been waiting to get my notice from bofa. thank goodness i'm with usaa and a credit union for my banking. although i'm a little disappointed in how my credit union has acted lately (it's almost as if citibank or bank of america were running the credit union). of course banks would love nothing more than to put all credit unions out of biz. support your credit unions. there's a credit union available for nearly everyone. start asking. look into it. dump the banks. why anyone would use citibank or bankofamerica for anything? i have a bofa credit card that i never use and have read bofa is thinking about charging a fee for its customers who do not use their card and/or pay the balance off in full each month. i’ve been waiting to get my notice from bofa. thank goodness i’m with usaa and a credit union for my banking. although i’m a little disappointed in how my credit union has acted lately (it’s almost as if citibank or bank of america were running the credit union). of course banks would love nothing more than to put all credit unions out of biz. support your credit unions. there’s a credit union available for nearly everyone. start asking. look into it. dump the banks.

]]> By: matt http://blogs.ajc.com/business-beat/2009/11/20/credit-card-catch-22/comment-page-1/#comment-5033 matt Mon, 23 Nov 2009 17:33:41 +0000 http://blogs.ajc.com/business-beat/?p=3187#comment-5033 Check this deal out! My wife got a credit card application from Barclays bank with an annual fee of 495 dollars. Yes there is 24 hour concierge and you get points for the card usage but $495 is a little outrageous. Check this deal out! My wife got a credit card application from Barclays bank with an annual fee of 495 dollars. Yes there is 24 hour concierge and you get points for the card usage but $495 is a little outrageous.

]]> By: Will http://blogs.ajc.com/business-beat/2009/11/20/credit-card-catch-22/comment-page-1/#comment-5032 Will Mon, 23 Nov 2009 16:09:01 +0000 http://blogs.ajc.com/business-beat/?p=3187#comment-5032 I have had a MasterCard with Citibank for over ten years. For the past three years or more I have always paid my card on the due date each month that was always the 6th. Last month they changed it to the 3rd and I didnt realize that when I opened the bill. They charged me a late fee of $39 although I only owed $34.86. I smell a rat. I have had a MasterCard with Citibank for over ten years. For the past three years or more I have always paid my card on the due date each month that was always the 6th. Last month they changed it to the 3rd and I didnt realize that when I opened the bill. They charged me a late fee of $39 although I only owed $34.86. I smell a rat.

]]> By: A.S.Mathew http://blogs.ajc.com/business-beat/2009/11/20/credit-card-catch-22/comment-page-1/#comment-5020 A.S.Mathew Sun, 22 Nov 2009 13:03:31 +0000 http://blogs.ajc.com/business-beat/?p=3187#comment-5020 God allowed this recession to haappen for a better purpose. I was surprised to see people using credit card to buy 99 cent burgers, and everything. The plastic card culture put the poor and middle class people into serious financial crisis, while banks were harvesting billions of dollars on human weakness of " impulsive spending habit". If possible, burn all the cards, and live according to the cash we have to spend. Ten years ago, I paid off my cards, but again I got into the mess, and trying to pay off everything, and never in life I will get a credit card. Freedom from the harassing call of the banks is another experience of "hell on earth". Let us all fight against these "highway robbery" of credit card culture. God allowed this recession to haappen for a better purpose. I was
surprised to see people using credit card to buy 99 cent burgers,
and everything. The plastic card culture put the poor and middle class
people into serious financial crisis, while banks were harvesting
billions of dollars on human weakness of ” impulsive spending habit”.
If possible, burn all the cards, and live according to the cash we have
to spend. Ten years ago, I paid off my cards, but again I got into
the mess, and trying to pay off everything, and never in life I will
get a credit card. Freedom from the harassing call of the banks
is another experience of “hell on earth”. Let us all fight against these “highway robbery” of credit card culture.

]]> By: FedUp! http://blogs.ajc.com/business-beat/2009/11/20/credit-card-catch-22/comment-page-1/#comment-5010 FedUp! Sat, 21 Nov 2009 13:53:14 +0000 http://blogs.ajc.com/business-beat/?p=3187#comment-5010 CB has just lost a customer. The credit union has just gained a new member. CB has just lost a customer. The credit union has just gained a new member.

]]> By: Lloyd Braun http://blogs.ajc.com/business-beat/2009/11/20/credit-card-catch-22/comment-page-1/#comment-4970 Lloyd Braun Fri, 20 Nov 2009 14:43:35 +0000 http://blogs.ajc.com/business-beat/?p=3187#comment-4970 I very skeptical of a bank that misspells their own name. After this maybe they should spell it ShitiBank. Mazel, Brauny I very skeptical of a bank that misspells their own name. After this maybe they should spell it ShitiBank.
Mazel,
Brauny

]]> By: Carla http://blogs.ajc.com/business-beat/2009/11/20/credit-card-catch-22/comment-page-1/#comment-4966 Carla Fri, 20 Nov 2009 13:24:06 +0000 http://blogs.ajc.com/business-beat/?p=3187#comment-4966 Citi is also planning to limit the credit line of those who pay their balances monthly. Just be aware. Citi is also planning to limit the credit line of those who pay their balances monthly. Just be aware.

]]> By: AH http://blogs.ajc.com/business-beat/2009/11/20/credit-card-catch-22/comment-page-1/#comment-4965 AH Fri, 20 Nov 2009 13:15:27 +0000 http://blogs.ajc.com/business-beat/?p=3187#comment-4965 hummm? I've got a citi care spend well over $750 a month, but I pay it all off each month I wonder if they will lower my rate? Not that it matters much but it would be nice to know that I have the best rate possible. hummm? I’ve got a citi care spend well over $750 a month, but I pay it all off each month I wonder if they will lower my rate? Not that it matters much but it would be nice to know that I have the best rate possible.

]]> By: Corey http://blogs.ajc.com/business-beat/2009/11/20/credit-card-catch-22/comment-page-1/#comment-4962 Corey Fri, 20 Nov 2009 12:59:53 +0000 http://blogs.ajc.com/business-beat/?p=3187#comment-4962 Up until about the early seventies wages paid were based on productivity. As productivity increased so did wages. However, since that time productivity continued to rise while wages stagnated, and productivity has now far outpaced wage increases. Is it coincidental that the introduction of MasterCard as it was called then and BankAmericard is what Visa was called happened just when the wage line and the productivity line on the graph began diverge? The point that I'm making is that the wages we should have been paid we borrow on plastic, or we borrow against our home equity. We're all being robbed either by big government or big business and bullied by big religion. Have a nice day. Up until about the early seventies wages paid were based on productivity. As productivity increased so did wages. However, since that time productivity continued to rise while wages stagnated, and productivity has now far outpaced wage increases. Is it coincidental that the introduction of MasterCard as it was called then and BankAmericard is what Visa was called happened just when the wage line and the productivity line on the graph began diverge? The point that I’m making is that the wages we should have been paid we borrow on plastic, or we borrow against our home equity. We’re all being robbed either by big government or big business and bullied by big religion. Have a nice day.

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