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#11
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"Daniel L. Lieberman" wrote in message
... The Fed rates have gone up so so should retail credit rates. Answer the question: Have fed rates gone up 4%? No... Not even close. So there is no interest rate based justification for such a rate hike. |
#12
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If you have an MBNA credit card, look at your statements...if you like
being screwed by the credit card company then ignore this thread and do nothing. You talk like MBNA owes you something. If you don't want to use their damned card -- don't. If MBNA charges you 20% interest -- and you're dumb enough to use their card -- who cares? It's not like there aren't 100 other credit card companies begging for your business, so either pay the bill off each month, or tell 'em to take a hike. We haven't paid a nickel of credit card interest since 1985 -- and that was to pay for our wedding. (And I've felt stupid about paying *that* ever since.) The ONLY valid reason to use a credit card is to consolidate all of your bills into one easily payable check each month. Credit cards are to consumers what the lottery is to investors -- just another sucker bet. -- Jay Honeck Iowa City, IA Pathfinder N56993 www.AlexisParkInn.com "Your Aviation Destination" |
#13
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Kinda timely since PBS's Frontline had a show on credit cards last
Tuesday. Very eye opening, it seems that a couple of Supreme Court decisions allow credit card companies to charge whatever interest rate they want and to raise the interest rate on money already on the balance. Most of the credit card holders interviewed had never read or didn't understand the "fine print" in their card contracts. One lesser known fact about credit card companies is that they will screw the VENDOR far more readily than they will their customers. Over the past couple of years we have had a handful of guests with guaranteed reservations not show up at the inn, who were charged for one night's stay. Two of them simply called their credit card companies and disputed the charge -- at which point the credit card company immediately credited them and charged us back, no questions asked! It was then up to US to "prove" to VISA that the guest had stayed with us -- which, of course, they had not. Despite the fact that these guests insisted on "guaranteed reservations", despite the fact that we had pre-authorized their stay on their credit card, despite the fact that we had mailed post cards to their home, reminding them of their reservation -- and despite the fact that we followed VISA's own procedures for no-shows to the letter -- we were totally helpless, and had to eat the bill. No amount of documentation or phone calls mattered to VISA. THAT is the real credit card scandal that is sweeping America right now -- but no one outside of the industry knows (or, quite frankly) cares about it. But we ALL pay for scumbags like these in the end. -- Jay Honeck Iowa City, IA Pathfinder N56993 www.AlexisParkInn.com "Your Aviation Destination" |
#14
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In article Nlspd.150701$R05.147436@attbi_s53,
"Jay Honeck" wrote: One lesser known fact about credit card companies is that they will screw the VENDOR far more readily than they will their customers. has American Express or Diners Club done the same to you? (just curious) -- Bob Noel |
#15
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One lesser known fact about credit card companies is that they will screw
the VENDOR far more readily than they will their customers. has American Express or Diners Club done the same to you? (just curious) We'll never know -- I threw BOTH of them out right after we opened, after they tried to charge us 5% for each transaction. (The other cards -- Visa, Mastercard & Discover -- charge us "only" 4% for the privilege of "working" with them.) Here's another credit card mystery: Why the hell does ANYONE use any card but Discover? Everyone else charges to use their cards, while Discover actually PAYS you to use their card -- yet they are a distant third or fourth in the industry. Marketing is everything to American consumers, I guess... -- Jay Honeck Iowa City, IA Pathfinder N56993 www.AlexisParkInn.com "Your Aviation Destination" |
#16
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"Jay Honeck" wrote in message
news:%9spd.150672$R05.66688@attbi_s53... If you have an MBNA credit card, look at your statements...if you like being screwed by the credit card company then ignore this thread and do nothing. You talk like MBNA owes you something. If you don't want to use their damned card -- don't. If MBNA charges you 20% interest -- and you're dumb enough to use their card -- who cares? It's not like there aren't 100 other credit card companies begging for your business, so either pay the bill off each month, or tell 'em to take a hike. Ok. So you also support legalized loan sharking. Fine. But tell me, what will you do when home, auto and commercial proprerty loan companies hike their rates just because they feel like it? Even if you pay on time, every time. All they need to do is lobby hard enough to put it into law and you are totally screwed. What then, Mr Clever Guy? |
#17
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In a previous article, "Chuck" said:
"Paul Tomblin" wrote in message ... Anybody who carries a balance on any credit card is an idiot or a sucker. Or isn't as wealthy or well off financially as you are... Nobody is *forcing* you to buy what you can't currently afford, you know. Back before credit cards existed, people actually saved up money ahead of time for major purchases, instead of all this "buy now and pay later" instant gratification stuff. -- Paul Tomblin http://xcski.com/blogs/pt/ "Outside of a dog, a good book is a man's best friend. Inside of a dog, it's too dark to read." - Groucho Marx |
#18
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In a previous article, "Jay Honeck" said:
Here's another credit card mystery: Why the hell does ANYONE use any card but Discover? Because nobody in Canada takes Discover. As a friend of mine "Discovered" the hard way. -- Paul Tomblin http://xcski.com/blogs/pt/ "I know not with what weapons World War III will be fought, but World War IV will be fought with sticks and stones." -- Albert Einstein |
#19
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"RS" wrote in message news:%Cqpd.97927$5K2.50864@attbi_s03... "Casey Wilson" wrote in message news:FUppd.10488$1B2.4184@trnddc02... I'm with Paul. If you can't afford to pay off the balance at the end of the month, then you can't afford to use the card in the first place. Are you a supporter of legalized loan sharking? Because that is what I think MBNA is doing. Not to mention that MBNA has surpassed Enron as the biggest contributor to George Bush. It's all good, move along folks, nothing to worry about... Nothing in my post warranted your response. I'll put it this way, if you don't like what they offer, close your account. MBNA isn't holding a gun to your head. Sheesh! |
#20
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But tell me, what will you do when home, auto and commercial proprerty
loan companies hike their rates just because they feel like it? Even if you pay on time, every time. All they need to do is lobby hard enough to put it into law and you are totally screwed. What then, Mr Clever Guy? I'm not following you. If you pay "on time, every time" -- credit card companies CAN'T charge you any interest. Or are you talking about annual fees, like American Express charges? -- Jay Honeck Iowa City, IA Pathfinder N56993 www.AlexisParkInn.com "Your Aviation Destination" |
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