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[Baby Hitler]

Fair or not...    it's all in the fine print that was on the back of the form   

Actually most of the "rules" are made up as they go along.

(Also: please note that this is NOT my story. I don't have any credit card debt).

[BigRedDog]

Actually most of the "rules" are made up as they go along.

(Also: please note that this is NOT my story. I don't have any credit card debt).

I'm sorry...   I should have added exactly your thought...   here are the rules today, but tomorrow we can make them anything we want to...

[the nosh]

Actually most of the "rules" are made up as they go along.

(Also: please note that this is NOT my story. I don't have any credit card debt).

i totally agree with that statement!

this of course is old hat other than the video. boa pulled this crap months ago. ive had their cc for many years, never a late payment, always paid more than the min. i had about 6k on the card at 7.9 they raised it to 12.9. of course they got a call from me as they did from many many others. how this works is...as long as you dont use the card ever again, your balance will still be at the old rate. once you use it again, it all goes to the higher rate which of course is nothing but robbery plain and simple. i told them to stick the card up their ***. i paid off the balance, then took the 10k i had in my checking account and put it in my other checking account at a different bank. obviously this isnt going to break them, but if enough people do...they will get the message!!

[Greg Chamberlain]

The situation that Fluffy posted is completely unrealistic. Also, banks can not make the rules whatever they want. Nor can they force you to accept them.

It seems some of you have decided not to apply your critical thinking skills to this issue.

[Baby Hitler]

The situation that Fluffy posted is completely unrealistic. Also, banks can not make the rules whatever they want. Nor can they force you to accept them.

It seems some of you have decided not to apply your critical thinking skills to this issue.

Obviously you do not watch the news then.

Minimum balance payments have increased substantially and in some cases even doubled, as well as the interest accrued.

Just because you choose to stick your head in the sand on an issue, it doesn't change the facts.

[spartanfan1]

Here is an idea how about you only buy with a credit card when two conditions are met:
1) you absolutely need it.
2) you are 100% sure you will be able to pay it back when the bill comes around.

[BigRedDog]

The situation that Fluffy posted is completely unrealistic. Also, banks can not make the rules whatever they want. Nor can they force you to accept them.

It seems some of you have decided not to apply your critical thinking skills to this issue.

Here's one of literally 467,000 Google hits on the topic of "Bank of Americal credit card rate increases"...

http://credit.about.com/b/2009/04/07/bank-of-america-raises-credit-card-interest-rates.htm

[T-M-T]

Here is an idea how about you only buy with a credit card when two conditions are met:
1) you absolutely need it.
2) you are 100% sure you will be able to pay it back when the bill comes around.

I always use a rule an old friend used to call the “Rule of 51 and 50.”

If you have 50 dollars and something costs 51 dollars, you can’t afford it.

[spartanfan1]

I always use a rule an old friend used to call the “Rule of 51 and 50.”

If you have 50 dollars and something costs 51 dollars, you can’t afford it.

very true, never heard of that until now.

[the nosh]

very true, never heard of that until now.

how about the rule of 25 and 24? ever hear of that one sparty?? lol

[spartanfan1]

how about the rule of 25 and 24? ever hear of that one sparty?? lol

Is it the opposite of TMTs? if you have 25 dollars and something costs 24 you can afford it haha.

[jbs49238]

I thought it was the rule of 29 - 27, after 5 is given!  LOLLLLLLLLLLLLLLLLLLLL!!!!  Back to politics.

[spartanfan1]

Here's one of literally 467,000 Google hits on the topic of "Bank of Americal credit card rate increases"...

http://credit.about.com/b/2009/04/07/bank-of-america-raises-credit-card-interest-rates.htm

Did the people with the cards agree to the contract which probably had a clause in it that allowed them to raise rates in certain situations?

[BigRedDog]

Did the people with the cards agree to the contract which probably had a clause in it that allowed them to raise rates in certain situations?

I'm sure there is a phrase in there that says if you "use" the card then you are acknowledging that you accept the terms of the contract.

[Greg Chamberlain]

Obviously you do not watch the news then.

I would like to see a news article where somebody with $5,000 in credit card debt not only had a $500 minimum payment to begin with, but has had it double to $1,000. Show me that.

Otherwise, I will assume you made it up. I will further assume that you haven't the first goddamn clue how minimum payments are calculated, or how they are related to APRs. The fact that you accuse me of being ignorant is laughable. Your bull**** statements about payments and how card companies make up the rules as they go along...and I'm the ignorant one.

Here's one of literally 467,000 Google hits on the topic of "Bank of Americal credit card rate increases"...

http://credit.about.com/b/2009/04/07/bank-of-america-raises-credit-card-interest-rates.htm

Yeah, I liked this part:

In fact, one commenter Hanadarko, says his sister was convinced to apply for a lower rate card, but ended up with her credit limit reduced to just $1,000 above her balance! BoA reps should be reading your Miranda rights when you call because anything you say can and will be used against you.

So, you are having trouble making your payments, but don't think your limit should be reduced. That is just stupid.

I'm sure there is a phrase in there that says if you "use" the card then you are acknowledging that you accept the terms of the contract.

Exactly. Any time the credit card company changes their terms, you can reject the change. At that point you are not to use the card any more and you can pay back the debt on the original terms. However if you use the card again, that means you accept the new terms. How is that not reasonable?