I needed to post this, in a real rush.
I think this is great. Andrew  :).

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We've done our own little version of that every time we get notice of this from our credit card companies.  We call and tell them we are canceling the card for the single reason that they raised our rate.

We've had some of these cards for almost 30 years and have excellent credit.  No way am I paying for their bad business decisions.

I like her style.

I did the same recently and cancelled cards because of the same thing. I don't even carry balances on mine but it was the principle!

Be sure to weigh all the consequences. Credit rating is based on several things, and among them is length
of time you've had any particular credit. Starting with a new card(s) can hurt your rating.....

Best,

Jon

jon019 wrote on Sep 29^th, 2009 at 11:33am:

Starting with a new card(s) can hurt your rating.....

To which I say, "So fucking what?" If these are the new rules, I guess I'll deal with any difficulties in borrowing money when I cross that bridge.

With all due respect (i.e., not directed at you, Jon).

I'm with Brew.

I've never carry balances and I still get offers of cards even though I have no other income than disability. It's nuts.

I have two cards, and rarely use the things other than for a subscription or two or at the Holidays.

Anyway, it seems no matter what I do, they won't leave me alone. Fine with me. I must have a helluva credit rating somewhere.

Charlie

Brew wrote on Sep 29^th, 2009 at 11:52am:

jon019 wrote on Sep 29th, 2009 at 11:33am: Starting with a new card(s) can hurt your rating..... To which I say, "So fucking what?" If these are the new rules, I guess I'll deal with any difficulties in borrowing money when I cross that bridge. With all due respect (i.e., not directed at you, Jon).

Totally understand Brew, Pat, Charlie....I have a good CR....comes from Dad who went broke once and refused to declare bankruptcy...took him years, but he paid off every single penny. Afterwards, he would buy the best...but only when he could afford it.

I think I've only missed 2 payments in 35+ yrs...despise owing anything to anybody. I suppose that's just me...that friggin credit rating means a lot.

What you choose to do is, of course, absolutely up to you....I've contemplated similar many times. Just can't do it....and I have to point out that this CR system...as unfair as it may be...is what we live with today. There are consequences....realize them is all I wanted to point out.

Best,

Jon

Good for her!  I've beenworking to get out of debt now for several years.  We had a business go under and didn't declare bankruptcy.  We have paid off every creditor with the exception of two who forgave the debt.  Had to live off of credit cards for a couple of years due to injuries and being unable to work, and have worked to get them paid off as well.  Managed to never miss a payment on one of them, and Lord willing will have all of it paid off in three yrs or less.  From that point on I plan on never owing anything other than my house again.  If we are able to follow our plan we will also pay it off in about 10 yrs and be totally debt free.  CAN'T WAIT!!!

Jerry

BTW, we have been following the plan put out by Dave Ramsey at DaveRamsey.com and the Total Money Makeover.  It's really helped us get a handle on things.

Dave Ramsey is an evil, evil man.  He is the leader of a cult.  They use weird language like 'debt snowball' and 'gazelle'.  The Ramsey followers are going to kill this economy.  They act in direct contravention to the laws of predatory lending practices, and they horde their hard earned money.

Because of Dave Ramsey, I no longer enjoy weekly sushi dinners and sunday breakfast at the resort.  Because of Dave Ramsey, I have to actually cook dinner for my family on a regular basis.  Because of Dave Ramsey, I actually have to plan my meals and grocery lists.  Because of Dave Ramsey, I have to budget for my car tires.  Because of Dave Ramsey, I no longer have cable or satellite TV to feed my HDTV needs.

Oddly, I'm not increasing my debt every month either, and for some strange reason, I'm a lot happier knowing I'll be completely debt free in less than 2 years.  I also like knowing I won't ever need to borrow money again.  And, hard to explain this one, there is a thrill to be had by having a budget and living as far under it as I possibly can.  It's like a sport, and I'm always the winner.

Evil man.

Loopy wrote on Oct 1^st, 2009 at 12:53am:

Dave Ramsey is an evil, evil man.  He is the leader of a cult.  They use weird language like 'debt snowball' and 'gazelle'.  The Ramsey followers are going to kill this economy.  They act in direct contravention to the laws of predatory lending practices, and they horde their hard earned money. Because of Dave Ramsey, I no longer enjoy weekly sushi dinners and sunday breakfast at the resort.  Because of Dave Ramsey, I have to actually cook dinner for my family on a regular basis.  Because of Dave Ramsey, I actually have to plan my meals and grocery lists.  Because of Dave Ramsey, I have to budget for my car tires.  Because of Dave Ramsey, I no longer have cable or satellite TV to feed my HDTV needs. Oddly, I'm not increasing my debt every month either, and for some strange reason, I'm a lot happier knowing I'll be completely debt free in less than 2 years.  I also like knowing I won't ever need to borrow money again.  And, hard to explain this one, there is a thrill to be had by having a budget and living as far under it as I possibly can.  It's like a sport, and I'm always the winner. Evil man.

I like the cut this Ramsey man's jib!  8-)

Visa Debit Card.. :) Can't spend what ya don't have...!


lefty..!

Loopy wrote on Oct 1^st, 2009 at 12:53am:

Dave Ramsey is an evil, evil man.  He is the leader of a cult.  They use weird language like 'debt snowball' and 'gazelle'.  The Ramsey followers are going to kill this economy.  They act in direct contravention to the laws of predatory lending practices, and they horde their hard earned money. Because of Dave Ramsey, I no longer enjoy weekly sushi dinners and sunday breakfast at the resort.  Because of Dave Ramsey, I have to actually cook dinner for my family on a regular basis.  Because of Dave Ramsey, I actually have to plan my meals and grocery lists.  Because of Dave Ramsey, I have to budget for my car tires.  Because of Dave Ramsey, I no longer have cable or satellite TV to feed my HDTV needs. Oddly, I'm not increasing my debt every month either, and for some strange reason, I'm a lot happier knowing I'll be completely debt free in less than 2 years.  I also like knowing I won't ever need to borrow money again.  And, hard to explain this one, there is a thrill to be had by having a budget and living as far under it as I possibly can.  It's like a sport, and I'm always the winner. Evil man.

I agree! ;D

I just recieved a notice yesterday that my interest rate on my Chase Visa card was to go up. Considerably.  Today I called and talked to a man in India that I could not understand and told him I would be paying my bill in full and to please cancel my account and I would be sendingmy card back to them  in pieces in the remittance envelope. 

I think??? he said it was an across the board decision and was not personal.  I said I didn't give a rats behind and Chase will be probably have a whole lot more customers than just me doing the same exact thing.

A  Mass exodus would be nice to contemplate while the CEO's tear their hair out and jump from tall buildings.  ;D