Ironworks Gaming Forum - View Single Post - High Risk or High Opportunity ? (Credit Card Rant)

Larry_OHF · 11-11-2005, 04:16 PM

I have three credit cards:

Visa from my Credit Union APR 11.25%
Visa from Chase (Previously Bank One) APR 22.99%
American Express APR 13.69%

The national average this week is 13.27, so I called and asked the Chase company why they were trying to run me off. See, previously it had been 12% when they were Bank One, but then Chase took over and my rates started rocketing. In speaking with a manager at BB&T where I have an account, he told me that a lot of people were complaining about Chase's rates. Even on Clark Howard's radio show, he bad-mouthed Chase because they have a lie built into their mice-print that allows them to break their own rules on fixed rates if they promise a fixed rate for a period of time. Anyway, as I said...I called Chase and asked them why they would treat me like this. Her reply was that the rate of the APR is more than just the national average, but also if I am considered high risk, like if my Credit Score was bad. I told her that my credit score was so brightly paved in gold that people weep in joy to have me as a paying customer. She then told me the truth that because I had more than 50% of the card used up of the $2900 limit, that I was considered High Risk by their company. I told her that what she just explained to me was not High Risk for them, but high Opportunity because I had been watching my monthly payments and was paying more than the minimum each month, but after their tricky interest costs, I was left only having $1.98 placed towards Principle. I told her that by raising the APR on me to 30%, they were hoping that I would never pay anymore than the bare minimum each month and that this rate would feed their cash-hungry asses very well, just like all the other millions of people that they are trying to rob from. I told her that she was part of a legalized robbery of the American People, and that her mother would be ashamed of her. Then I thanked her for answering my questions and hung up.

So I warn all of you with credit cards. Look at that interest rate. Watch and see how much is actually being applied to Principle. Not all credit card companies are trying to take such blatant advantage of their customers, as I have shown that only Chase of the three cards I own has been so sneaky as to come up with a high interest rate to suck the money out of my pocket faster than I can repay the debt. If you have a Chase card, beware.

[ 11-11-2005, 04:19 PM: Message edited by: Larry_OHF ]

11-11-2005, 04:16 PM	#1
Larry_OHF Ironworks Moderator Join Date: March 1, 2001 Location: Midlands, South Carolina Age: 49 Posts: 14,759	I have three credit cards: Visa from my Credit Union APR 11.25% Visa from Chase (Previously Bank One) APR 22.99% American Express APR 13.69% The national average this week is 13.27, so I called and asked the Chase company why they were trying to run me off. See, previously it had been 12% when they were Bank One, but then Chase took over and my rates started rocketing. In speaking with a manager at BB&T where I have an account, he told me that a lot of people were complaining about Chase's rates. Even on Clark Howard's radio show, he bad-mouthed Chase because they have a lie built into their mice-print that allows them to break their own rules on fixed rates if they promise a fixed rate for a period of time. Anyway, as I said...I called Chase and asked them why they would treat me like this. Her reply was that the rate of the APR is more than just the national average, but also if I am considered high risk, like if my Credit Score was bad. I told her that my credit score was so brightly paved in gold that people weep in joy to have me as a paying customer. She then told me the truth that because I had more than 50% of the card used up of the $2900 limit, that I was considered High Risk by their company. I told her that what she just explained to me was not High Risk for them, but high Opportunity because I had been watching my monthly payments and was paying more than the minimum each month, but after their tricky interest costs, I was left only having $1.98 placed towards Principle. I told her that by raising the APR on me to 30%, they were hoping that I would never pay anymore than the bare minimum each month and that this rate would feed their cash-hungry asses very well, just like all the other millions of people that they are trying to rob from. I told her that she was part of a legalized robbery of the American People, and that her mother would be ashamed of her. Then I thanked her for answering my questions and hung up. So I warn all of you with credit cards. Look at that interest rate. Watch and see how much is actually being applied to Principle. Not all credit card companies are trying to take such blatant advantage of their customers, as I have shown that only Chase of the three cards I own has been so sneaky as to come up with a high interest rate to suck the money out of my pocket faster than I can repay the debt. If you have a Chase card, beware. [ 11-11-2005, 04:19 PM: Message edited by: Larry_OHF ] __________________