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Author Topic: ihaverabies primitive late in making credit card payment  (Read 2761 times)

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Offline franksolich

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ihaverabies primitive late in making credit card payment
« on: August 01, 2008, 02:29:44 PM »
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x3715126

Now, I'm not sure about this.

It seems the ihaverabies primitive is telling her own tale of woe, but it might be the ihaverabies primitive copied-and-pasted this from the Cossack site, and that it's the tale of woe of someone else.  It isn't clear.

Anyway.

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ihavenobias  Donating Member  (1000+ posts) Fri Aug-01-08 12:25 PM
Original message

Rant: I made ONE late credit card payment, so I called the company...
   
Stupid me. 1 day late.

Now my interest rate went to the default rate of 28.99%. That's almost TWENTY NINE PERCENT. I'm so pissed and yes, that includes at myself for screwing up and making the payment a few hours later than I should have (didn't show up until the next business day).

And again, I can blame myself for not paying full attention to the terms and conditions. It's true, I signed the papers I signed and nodded yes, etc.

With those disclaimers out of the way, WTF? I called to have my rate lowered and the woman on the phone said they review it every 12 months. In other words, I'd have the *possibility* to have it lowered in a year.

I asked her why they don't offer a one time exception (hell, once a year), or why the penalty is so God Damn high (why not charge a fee or increase the rate by 1%). I added that her corporation doesn't care about the individuals and the bad economy (that they in part helped to create), they care about increasing their profits as they are legally obligated to have as their top priority. I said it was absurd and unacceptable.

Her response? "We do care and that's why we offer so many payment options. Would you like me to share those with you? You can pay by phone or online or do automatic debits from your account".

My response: No, they don't care, otherwise they would offer a ONE time exception or they would make the penalty significantly less strict. We aren't talking about someone not paying their card for months and or paying way after the due date.

Finally she asked "do you have any other questions"?

I said "yes, how do they sleep at night"? (Silence)

I added that they probably sleep fine, because they're raking in money hand over foot and they live in a nice, safe bubble of private schools and luxury cars and other wealthy friends who don't understand what it means to have a credit card rate go up to 28.99%. And I apologized and said that I know SHE doesn't set up these rules and that she is just the messenger. But I added (paraphrase) that I hope she understands deep down when she goes home from work that her company is screwing good, hard working people trying to make an honest living.

Then I told her politely to have a good weekend and that was that. Maybe I was too harsh. Again, I did NOT swear or say anything about her, I said "they" or "corporations" or "your company". And again, I said twice that my issue wasn't with her personally and that she was just the messenger.

http://www.dailykos.com/story/2008/8/1/123227/8424/699/...

One suspects, with eminently reasonable cause, that it's more of a "I used my credit card too much and went way over my budget and can't afford the payments" issue, than a "I missed it by a day" issue.

Remember, primitives stretch.  Primitives make a fine art out of stretching.

In fact, it should be an Olympics event, primitive stretching.

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meegbear  Donating Member  (1000+ posts) Fri Aug-01-08 12:28 PM
Response to Original message

1. Back when the law went into effect ...
   
my credit card people said I was late for a payments 3 months earlier and they retroactively raised my rates - 28% and 2 went to 31%.

If you are having debt issues, you can contact, like I did, Take Charge America, and they can help get it lowered and pay it off.

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Warpy  Donating Member  (1000+ posts) Fri Aug-01-08 02:12 PM
Response to Reply #1

43. Involving someone like that, even when they charge a fee, is cheaper than paying usury.

The best bet of all is to pay those cards off. Concentrate on the one with the smallest balance first and work your way up to the big guy. Then get rid of them.

I've now spent 17 years with no credit cards. It can be done. I have a debit card on a junk account to limit my loss if it gets hacked.

This is just the beginning. Their ability to jack interest rates up into loan shark territory is unlimited. The best thing to do is get help lowering that rate and concentrate on getting rid of the damned things forever.

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SoCalDem  Donating Member  (1000+ posts) Fri Aug-01-08 02:20 PM
Response to Reply #3

47. Alert Alert Alert
   
Be very careful with that automatic.. Sometimes they "float" your "due by" date..

Our one and only credit card, Discover does this.. It's not a fixed "date" of the following month.. It used to be, but not any more.. They tried to ding me with a late charge because it can vary as much as 6 days, and with the automatic online bill-pay our bank offers, it "missed" once.. I don;t like the automatic pay that the credit card "offered", because sometimes (usually) I pay more than the amount due, and I like to be in charge of that without having to talk to a phone robot.. They did not raise our interest rate when I called to complain to them...

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supernova  Donating Member  (1000+ posts) Fri Aug-01-08 12:31 PM
Response to Original message

8. That is why i don't have credit cards
   
I feel sorry for those that have to deal with these rapacious companies.

I have one debit card that gets paid off every month and that's it.

franksolich is intensely curious.  What is a debit card that gets paid off?

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Gormy Cuss  Donating Member  (1000+ posts) Fri Aug-01-08 12:34 PM
Response to Original message

11. If you can pay off the balance now...
   
Call them back and tell them to cancel the card. When they ask why, tell them that the new interest rate is usury. If they want your business they'll lower it. If they don't, you're better off without that card in your wallet.

Again, this is only worth the gamble if you can pay off the balance right now.

Aha.  The ihaverabies primitive comes clean.  Sort of.

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ihavenobias  Donating Member  (1000+ posts) Fri Aug-01-08 12:35 PM
Response to Reply #11

13. That's the problem, I'm in a really bad situation. They recently cut my hours at work.
   
Long story short, there's no way I can do that.
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Offline JohnnyReb

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Re: ihaverabies primitive late in making credit card payment
« Reply #1 on: August 01, 2008, 02:50:36 PM »
I see a Saturday Night Live skit here.

Swat team in full gear, with weapons at the ready, surrounds woman. Leader yells, "Drop it..... Drop it..... Drop it lady......Drop the credit card and back away slowly." She clutches the card to her chest and screams, "From my cold dead hands!".........
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Offline Bondai

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Re: ihaverabies primitive late in making credit card payment
« Reply #2 on: August 01, 2008, 02:57:21 PM »
1 day late? I don't think so.....sounds like a stretchy to me...more like a month and 1 day late.
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Offline Zeus

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Re: ihaverabies primitive late in making credit card payment
« Reply #3 on: August 01, 2008, 03:13:17 PM »
I have dropped the ball a few times in the past and made payment late. I contacted the owed company and asked for and received a waiver on the late payment fee and any possible interest escalation.

Those late payment fees & interest escalations are computer triggered and can be overridden manually but you need to ask.It helps if you have a satisfactory payment history at the time of the request.

Hell I even have a couple credit cards with remarkably low introductory rates.Have had those cards & rates for a few yrs. I use them for slush funds because of the low interest and not having to pull my own money from other accounts garnering way better interests accumulation. Shortly prior to the teaser rate expiration I call and request a time extension or I will have to payoff and close the acct.

Lot of times it's not so much what you ask but how you ask it.
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Offline Tucker

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Re: ihaverabies primitive late in making credit card payment
« Reply #4 on: August 01, 2008, 03:55:45 PM »
Well Frank...inquiring minds want to know.

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michreject  (1000+ posts)       Fri Aug-01-08 04:40 PM
Response to Reply #8
58. That makes no sense
 A debit card is withdrawn as you use it. How do you pay it off when there is no payments on a debit card?

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Offline USA4ME

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Re: ihaverabies primitive late in making credit card payment
« Reply #5 on: August 01, 2008, 04:00:34 PM »
ihavenobias didn't even say anything to the company rep that constituted water-cooler talk.  I do wish they would try harder.

.
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Offline Carl

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Re: ihaverabies primitive late in making credit card payment
« Reply #6 on: August 01, 2008, 04:36:54 PM »
Quote
ihavenobias  Donating Member  (1000+ posts) Fri Aug-01-08 12:35 PM
Response to Reply #11

13. That's the problem, I'm in a really bad situation. They recently cut my hours at work.
   
Long story short, there's no way I can do that.

Ah yes,the small guilty child fessing up but only by half.

Instead of one day late they are likely a couple of months late and have a poor payment history to start with.
Several notices and offers of generosity hit the circular file without being opened and now the person wants pity and sympathy while making sure everyone knows they are not to blame.
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Offline Uhhuh35

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Re: ihaverabies primitive late in making credit card payment
« Reply #7 on: August 01, 2008, 08:07:30 PM »
"ihaverabies"  :rotf: H5!
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