Posted by: Incandescent June 26, 2010
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Junkyfunky,
"Ont just act smart here incadescent"
" PS read those consumer affairs before blaming other you smart A**."
I understand that you are upset with your situation and I don't mind you calling me "Smart A**". If it helps to resolve your situation please be my guest and make some more bright comments as above.
You mention that it happened a year ago? oh boy!
"How unjusatful it is to spike your APR from some 12 % to Whooping 29 %
for just missing one payment."
If you have taken the time to read the TOS before applying for a credit card, you would have been asking this question to yourself! Find the packet that came with credit card and it will clearly say what your default APR would be if you miss a payment. So if the default APR is 29% or 39% it is your responsibility to read the fine prints. Yes it is a ridiculous amount and you my friend happened to accept the terms.
However if the credit card company changes their default APR to something different from what you initially signed up then they will send you an opt out letter.
I'm not supporting chase or the false practice of these companies.From what I understand consumers need to be more careful and educated about the financial products they sign up for.
As you mentioned earlier its recession and everyone is strapped for money and big financial institutions are no exception. They will try to dime and nickle you in every possible way. So, why give them the opportunity?
I do not think there is a way to resolve this issue by applying another credit card, my friend. Any new financial institution will reject your new card application or give you very low credit limit, since you have a missed payment previously and its only been a year. Even if they do give you one it will definitely be a high APR.
The only way to resolve it is borrow money from someone and pay it off. I hope your debt is not more than 10K - 15K. Otherwise you will keep on paying high interest.
Good luck.
Best wishes,
Incandescent.
"Ont just act smart here incadescent"
" PS read those consumer affairs before blaming other you smart A**."
I understand that you are upset with your situation and I don't mind you calling me "Smart A**". If it helps to resolve your situation please be my guest and make some more bright comments as above.
You mention that it happened a year ago? oh boy!
"How unjusatful it is to spike your APR from some 12 % to Whooping 29 %
for just missing one payment."
If you have taken the time to read the TOS before applying for a credit card, you would have been asking this question to yourself! Find the packet that came with credit card and it will clearly say what your default APR would be if you miss a payment. So if the default APR is 29% or 39% it is your responsibility to read the fine prints. Yes it is a ridiculous amount and you my friend happened to accept the terms.
However if the credit card company changes their default APR to something different from what you initially signed up then they will send you an opt out letter.
I'm not supporting chase or the false practice of these companies.From what I understand consumers need to be more careful and educated about the financial products they sign up for.
As you mentioned earlier its recession and everyone is strapped for money and big financial institutions are no exception. They will try to dime and nickle you in every possible way. So, why give them the opportunity?
I do not think there is a way to resolve this issue by applying another credit card, my friend. Any new financial institution will reject your new card application or give you very low credit limit, since you have a missed payment previously and its only been a year. Even if they do give you one it will definitely be a high APR.
The only way to resolve it is borrow money from someone and pay it off. I hope your debt is not more than 10K - 15K. Otherwise you will keep on paying high interest.
Good luck.
Best wishes,
Incandescent.