Credit cards really tear you a new one, read up !
 

http://news.yahoo.com/s/ap/congress_credit_cards

I work for chase first hand, their practices are inexcusable and the way they handle customers is pretty shitty, But I guess thats business(corrupt legal business)

Link dosent work for me. Well it turned out it was trying to put the smily face on the end of the link. Removed that and it worked fine.

oh shit.....sorry bout that, fixed and ready to go, I was shocked to see how much these fuckers tag you with intreast and such

I dont own a CC.

That is the reason I dont own a credit card.

if your not a dumbass, its not hard to understand that 14-25% APR is a lot.

plus (47) fourty-seven overlimits fees doesn't help


hmmm, maybe he could have, I dunno, gotten a card with a higher limit and introductory 0% APR for 12-months with free balance transfer?

I just finished paying mine off last month... what an eye opening experience.

cc's are evil

I stay out of CC debt, if i don't have it I don't spend it on the card. I like my card because of the air miles. A few years of using it and I get a free airplane ticket to wherever and every year I get a $50 companion ticket so it pays for it self in dealing with paying the bills. If I ever get into CC debt i'll cut them up immediately.

If you are able to control spending CC's are a great thing. I used to use my debit card for pretty much everything, well I was not getting any form of rewards points for that. I changed to AT&T Universal Rewards and in August i should have enough points just from normal spending that I will be able to take a free cruise on royal carribean.

yeah i have a crap load of miles

I worked for Household (GM card) out of college. We were bastards. To the customers and to each other. The only people we were good to were senators and stock holders. Wonder why the bankruptcy laws just changed?

I dont have any cc debt at the moment, but I want miles damnit. so Im going to try to hook up a good benifit card for normal purchases to pay off every month.

I do have my emergency card, but Ive never used it.

I think the whole issue boils down to this
"with over-limit fees on his Chase card account 47 times although he went over his credit limit only three times."

they are going to charge you every month you are over, not just exceeding the limit three times.


The real underlying issue is this: don't be a dumbass. Just cause a crybaby made $6000 worth of minum payments for 6 years he deserves a break? I lived off water and bread a few months back to pay my $5k credit card bill after I got married. I took six months but I was able to do it.

The worst part is he was actually trying to pay it off, sorta, aside from the late payments. Most people have 30-50k in credit card debt, good luck.

braineack people with dept over 40k usually just go and file bankruptcy and be done with it, but now with the new laws they usually haft to pay back a sum of what they originally owe, alot of people I talk to on a daily bases think just because ther file BR they are done but thats not the case, then again I deal with alot of assholes

last friday was my last day at b of a. Wow that place was a shit hole.. talk about fucking customers over on a daily basis.

I just got declined for my first credit card. It really helps to build credit so I can get a car loan after college.

Running a BALANCE on a CC is the retarded part. It's not your money, so don't spend it.

Are you going to be able to put more power out with that T25?

Credit cards are good if you are smart with your money.; I have a credit card with an $8000 limit and 0% APR and have charged it up close to the limit. My payments other than minimum charges have gone into an interest bearing account where I now have 10k, of which only about 25% is mine :)

Have low interest rate that I argued for. Only got it for emergencys when I traveled abroad.
I use mine as a debt card to raise my credit.

Smart consumers FTW

I only have mine for emergencies. It is my first one with a 50,000 dollar limit. They love to give military credit related anything because they know that we are forced to pay it off.

my credit card is all I owe right now...given, I bought my computer for school and also just paid for the torsen with it, I've got a lot more money on it than I'd like to admit...I'm hoping to get it back to zero by this fall, when school starts back.

The citibank drivers edge card gives 2% back toward the purchase of any car, new or used. I've bought everything with it for about 8 years. I just always pay it off no matter what I have to do, mostly I don't spend it if I don't have it, but I know thats not always possible. Then I get a 0% interest card, like recently, until my wife gets a job. You can't trust them, but you can use them.

When my wife and I had our internet business we were $125,000 in debt on 17 credit cards. 9 of them were her's even though she had not worked in 10 years(they give them to anyone). We sold the business and paid them all off.

Now I still use credit cards for everything but NEVER carry a balance. I have a State Farm credit card (1% goes towards your insurance) and a Citibank that pays 5% cash on food/gas/medical up to $300 (this means gas is $0.10 to $0.15 a gal less when I fill up). If you are responsible with them, credit cards are great tools. If you are a dumb ass (like my mother-in-law who bankrupted 2 husbands), you can get burned with them.

BTW, I can tell you that when you pay off $125K in one day your credit rating shoots to the max. A few years later it starts falling off if you don't borrow any more money. I just borrowed $47K from my 401K plan and paid off my house. Now the ONLY person I owe money to is myself. I intend to never borrow another cent for the rest of my life.