Written by Captain Mary on Wednesday, February 04, 2009

I recently got my credit card bill and noticed that the interest rate had jumped from 7 percent to 18 percent. Are you kidding! Didn't they just get a bail-out? Didn't the American public pay for this?
Well, this is an outrage, I got on the phone to my Visa provider and asked to speak to a manager. First I told them that I couldn't believe that this was their contribution to helping Americans out of this financial slump. I asked if they were enjoying their bonuses, the representative that I spoke to did not get one, but I mentioned that their boss probably did. There was a moment of silence on the phone. I began the negotiations, first I mentioned that I make my payments on time, but will find it impossible to pay off this amount at the rate they are now charging me. I then told them that I will be forced to disburse my debt by filling bankruptcy and they will get nothing. I now have the attention of the representative. He asked me a few questions, one of the most important was my income, I responded by telling him that my income is half of what I made last year. Even if its not, this is an important answer. Don't feel bad if you have to lie to them, they don't care about you at all, and we should not be penalized any further for their poor management skills. I worked hard to achieve a low interest rate and they claimed that their costs had increased, and that was the reason for the jump in my interest rate.
Check out your credit card bills, don't tolerate the increase, get on the phone and demand your rights. Don't pay and pay for their incompetence, this is not the way to help the American people. The credit card companies made it so easy for us to go into debt, but now it is time for us to climb out of this hole, this is our first step. They did ask me not to use my card until my debt was reduced, I am more than happy to accommodate. I don't need anymore bills anyway.
Make the call! Don't be shy, get on the phone and help yourself out of the credit card mess. Be certain to monitor those interest rates, the banks are sneaky and may not even tell you they are going to stick it to you. Good luck. I got my interest rate reduced back to the original rate and credited the overcharged interest amount.

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  1. 3 comments: Responses to “ CREDIT CARD IMPORTANT NOTICE ”

  2. By Anonymous on February 4, 2009 at 9:43 AM

    Go get um Sis. I bet they didn't anticipate people reviewing their bills so closely.

  3. By Mini on February 5, 2009 at 1:37 PM

    thank goodness that i dont have credit cards!!!

  4. By Queenie on February 16, 2009 at 7:54 AM

    I will say it again, the only way to solve the issue - get rid of them completely. We haven't had cards in 9 years and we function just fine. A lesson my brilliant hub has taught me well.