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http://www.consumeraffairs.com/credi...dit_cards.html

I wish people would take responsibility for their own actions. Some of these comments make me want to lol.

Basically, Chase is increasing the minimum payment due each month from 2% to 5% for some customers. Hilarity ensues. I know I shouldn't be laughing at people less fortunate than me. It's their unapologetic I-did-nothing-wrong attitude that makes me not care.

My monthly payment from my 4 accounts will go from 961.00/month to 2394.00/month. Needless to say I will not be able to make these payments and will end up defaulting on my accounts and probably claim bankruptcy. I have been a loyal customer for well over 15 years, never late and have paid more than the minimum many times.

Other sites says while it is immoral and unfair it is legal to do.

Is immoral really the right word to use? And apparently you're citing fairness when you have nearly $50,000 in credit card debt?

What did they do with their Stimulus money? I'm going to ask Mr. Obama, Max Baucus, my Senators, and my Congressperson and the New York Times. Perhaps they can explain it to me.

What did they do with their money? They stupidly gave it out to people like you who figured they could use their credit cards to ratchet up their standard of living.

This will increase my payment by about 475 a month, an outrageous amount!! I am also trying to qualify for a home loan, and this will of course, put my debt to income ratio completely out of the ballpark to even be considered for a loan - that is, if I can actually make the payment!!

Here's a helpful hint: If you have so much credit card debt that you're paying the minimum each month then maybe you shouldn't be thinking about buying a fucking house! Where does this stupidity come from?

Holy shit there's like 30 pages of these. I'm going to read them and chuckle in peace.

Posted on Wednesday June 24th, 2009 at 1:41 PM by DranoK
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Tags: credit cards, finance, funny
6 Comments, 1458 Views

6 Comments:

At 03:20 PM on Wednesday June 6th 2009 (261 Days 5 Hours ago)
Ratha posted the following:

You know what would make for a really good math class in school? Financial responsibility 110101, or whatever. Where they teach young adults, who are still in school, how to spend their money, and what all these interest rates are, the things to watch out for when signing up for or using a card, and how to take advantage of said credit without getting into trouble. I dont think that people understand credit, or the associated interest rates and fees in general.

At 05:15 PM on Wednesday June 6th 2009 (261 Days 3 Hours ago)
DranoK posted the following:

It would be nice if it was taught, yes. But as the cliche goes: You can bring a horse to the water, but you can't make it drink.

At 07:20 PM on Wednesday June 6th 2009 (261 Days 1 Hour ago)
DeathCharms posted the following:

At my job I will get written up for not signing a certain amount of people up for the shitty store Credit card. I feel bad for the people that do it, because we offer 10% or 6 mo. deferred payment.

At 10:40 AM on Thursday June 6th 2009 (260 Days 9 Hours ago)
DranoK posted the following:

The fun thing about deferred payments like that is that interest will compound during the "free" period.

Let's say you buy something for $1000 with "no interest" and $0 monthly payments for 6 months (regularly 30% interest). If you pay it off in full within that 6 month period you'll pay $1000. If you pay nothing for the first 6 months, your bill when the promo period ends will suddenly be $1160. See, they were still charging interest. Just "deferring" it.

People need to educate themselves about these things. But no, most people would seem to rather make useful (if risky) credit tools illegal so father government can take care of them rather than take responsibility for their own financial future.

At 02:21 PM on Thursday June 6th 2009 (260 Days 6 Hours ago)
DranoK posted the following:

More have been posted today. This is way too fun.

M of SIOUX FALLS, SD June 24, 2009

received notice today of minimum payment going from 2% to 5% on my low fix rate for life balance with no opt out!! Some consumers had a opt-out option included mine did not. I always pay 200.00 more than the min each month so I knew when it would be paid off. Now I will need a loan to make the extra amount each month until it is down to what I was paying then I am going to milk it for ever and never pay more than the minimum just to drag it out on them!!! I will never use the card again.

Emphasis mine. I think a dozen account managers orgasmed in their pants when they read the bit in bold.

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