Credit Card Penalty Rates

Guest: Board Monitor
Board Monitor/ Administrator
Post subject: Credit Card Penalty Rates
Posted: Wed Mar 01, 2006 3:42 pm

This message posted by e-mail request from one of the visitors to our site:

My credit card company just informed that I was subject to new higher "penalty rates" because it was determined that they needed
to increase revenue on my account! This is due to the fact that I
always pay my balance on time and in full. So let's see... I'm
penalized if I pay late and now I'm penalized for paying on time!! What
rip!
_________________
Best Regards,
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314

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Guest: JaneiR36
Credit Expert (100+ Posts)
Posted: Wed Mar 01, 2006 4:12 pm

That does seem silly! So they know you're a responsible customer who doesn't make them any money, but still they're happy to raise your rates patiently waiting for that one slip-up! Keep an eye on those and if you do get into trouble in the future, be sure to use one with lower rates or one of your promotional cards. Good luck! (as if you need it... haha ).

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Guest: Ira
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Thu Mar 02, 2006 2:21 am

What you're saying makes absolutely no sense and you may be misinterpreting it. Can you give us the exact wording that you received from your bank. That's the only way we can properly assess the situation.
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Do not let what you cannot do interfere with what you can do.

Ira

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Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Thu Mar 02, 2006 8:02 am

Board Monitor wrote:
This message posted by e-mail request from one of the visitors to our site:

My credit card company just informed that I was subject to new higher "penalty rates" because it was determined that they needed
to increase revenue on my account! This is due to the fact that I
always pay my balance on time and in full. So let's see... I'm
penalized if I pay late and now I'm penalized for paying on time!! What
rip!

PAY IN FULL and don't use the card for a while

They probably saw something on your credit report they didn't like

Just use it every 6 months for like one tank of gas and PIF and don't use it again for 6 months

Or just call them on the phone and GET THE FULL STORY

I had one card "JACK" my rate (FOR EXTRA "REVENUE") and I got them to back tract to 1% under what it was

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CardRatings.com is the most comprehensive source for comparing credit card offers.  Please visit CardRatings.com to view the best rated credit cards!

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Guest: bullwinkle29
Posted: Thu Mar 02, 2006 4:02 pm

is this a POS CAPITAL ONE CARD??

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