Unethical Practice of Credit Card Company

Author: rick, Guest
Posted: Tue Aug 19, 2003 6:53 pm
Post subject: The MBNA Syndicate

I have had an MBNA MC for a number of years and I have used it, and paid on it, no problem. I started a new business back in April and I began to use this and another card for start up costs. I just got my statement and the interest rate jumped from 19.98% to 24.98%. Well, I called them up and I was told that I have not been paying them enough so they raised the interest rate (like that will make it easier to pay off more). After a few minutes with a representative I was sent to the rape (oops) rate department who gave me the same line. I was then transferred to the loan shark department and this clown, I think his name was Guido or Vinnie, anyway, he tried to talk me into a refi on my house. I explained I AM going through a refi so he suggested a 2nd mortgage. Now this guy was a real slick (used car salesman) talker. Now, my problem is that I feel that this tactic is unethical at best, and criminal at worst. Anyone who knows anything about legal action against a Syndicate like this please contact me at rickrandall100@earthlink.net

Rick Randall Laguna Hills, CA

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American Express Credit Card Grievance

Author: Joe S., Guest
Posted: Tue Sep 23, 2003 12:04 pm
Post subject: AmEx gripe...

As a writer for over 29 years, I've built myself file cabinets full of contacts. Your website is excellent, and having been on most of them, I can speak from experience. One thing bothers me, however, and it's more personal than professional. Up until 1987, I carried a AAA credit rating. I could get any credit card that was currently being offered. Then, at a young age, I was stricken with a catastrophic illness and the resulting battle to beat the disease would last the next 15 years. Throughout most of the catastrophic illness, I continued to pay my bills, leaving no one waiting for money. In 1990, however, I had one of two severe treatment periods when working became impossible. I reorganized, thereby maintaining my record of paying my debts via a timetable I could live with. Most of your highly touted card companies worked with me, except for American Express. They wrote me off as a "bankruptcy" and I've been told by two of their agents that I've been banned for life, despite my attempt to pay them back. Before you promote the group, you might want to check into their approach to card-holders who do nothing other than suffer through a catastrophic illness. That policy smacks of discrimination... I've added your site to my contacts list. Keep up the good work. In this day and age, credit cards have become even more of a way of life...

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Internatinal Money Transfer Card Search

Author: Guest
Posted: Thu Oct 09, 2003 5:35 pm
Post subject: How do you become a reseller of an Intl. Money Transfer Card

My corporation is interested in becoming a reseller / distributor of an International Money Transfer Card. We want an existing tried-and-true WORKING card. We actually prefer a NON-Visa or NON-MasterCard branded card... You have the best site by far of Credit Card Issuers, but I can't tell which ones also have International Money Transfer Cards or whom would be the best to contact... Do you have anyone there that can give us some referrals or work with us in finding out what the choices are? Please advise me one way or the other if you can or will help us find such a card to distribute.

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Credit Ratings Effected by Not Reporting Credit Limits

Author: NightStar, Credit Expert (100+ Posts)
Joined: 07 Nov 2003
Posts: 1704
Location: Illinois
Posted: Tue Nov 11, 2003 8:50 am
Post subject: Capital One Reporting Problem & Fix:

Figure while we are dealing with credit cards today and various issues, that we should address the major one of them all. Oh yes, they are nice that they give credit easily then most any other creditor out there. But it is plain and simple they purposely hurt their customers to stay competitive! They will never report your credit limit, only high credit and balance. So most of the time you credit report looks like you are maxed out on your credit! So say you have a credit limit of $5,000 and you recently charge up the highest to $1,000 may be a month of two of paying and you have a recent balance of $800. $5,000 Crdit Limit $1,000 High Balance $ 800 Balance $1,000 divided by $5,000 = 20% utilization $ 800 divided by $1,000 = 80% utilization So all that your credit report shows is the high balance of $1,000 the $5,000 is no where to be found, making you look like your maxed out just about. Then you know what is going to happen when you do charge more then $1,000 it is going to make you look over the credit limit! And you definitely don't want your other creditors seeing that, for the change to jump - claim you are over extended and jack you interest rates with them! **** We have discussed this one around and around and others actually came up with this, but here is what you do to fix this problem. When first opening up an account with Capital One, least this is my way, is to take a cash advance for all but $50 - $100 and before the grace period is up immediately pay back the balance, that way the credit report will show the High Balance close to your true credit limit and it won't have the power to mess with you on the reporting. Some have suggested making a large purchase, close to the credit limit - then returning item to store. That could least save you finance charges associated with cash advances, Or if you can, get a balance transfer - payable to yourself, then immediately pay back. This though, is how you use Capital One to get a fair shake on the credit reporting

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