|
 This survey originally ran in
the 5/8/02 DebtSmart
Email Newsletter.
Do you believe it's good to "hate" your
credit card bank so they keep on their toes?
 |
90.5% of
respondents said Yes |
|
9.5% of
respondents said No |
Do you hate your credit card bank?
|
66.6% of
respondents said Yes |
|
33.3% of
respondents said No |
The article listed 10 reasons to "hate"
your credit card bank. Which do you agree with and/or disagree with and
why?
"I neither hate nor love my credit
card co. Each person has to take responsibility for their own
actions. I don't believe in blaming someone else for your own
stupidity. If you can't control your credit, you shouldn't even have
a credit card."
--Anonymous
"I agree with all ten reasons to
hate your bank. Banks make so much money off of their good and bad
customers. Even when you think that you've gotten a good credit card
deal, you find out that there's a better deal somewhere else.
Unfortunately the only way to have a credit history is to obtain
credit. Usually that's a credit card."
--Anonymous
"I agree with the credit card bank
should be there for the customer. I had a charge card with
Southtrust and closed the account. I couldn't get the charges right
on my account until I sent a certified letter to the bank president
with photo copies of my checks. I called CS to find out why there
was a $100 chg in the misc. line. I was told I charged something. I
said how on a closed acct????"
--Yvonne
"I think it is very important to
know what terms you are agreeing to before you sign up. Also, it is
imperative to abide by the particular rules that you signed up for.
Credit cards are a tool. Nothing else. If they are not used
properly, they can and will be to your detriment."
--Gaylen
"They are out to only make money on
us. Period. The late fees, higher interest rates, unethical
practices, & print so small that even an ant couldn't read it
all attest to that fact."
--Amy
"I totally agree. Credit cards are
EVIL!!!! You forgot that once you reach your credit limit, they are
kind enough to raise your credit limit so you spend more."
--Julie
"I completely disagree with them
having the ability to raise your rates because you are late on other
bills. That's like your home insurance going up because you had a
car accident."
--Kelly
"Making a mistake and causing your
credit to be frowned on , and not thinking they should be
responsible for that , and not paying your utility bill is none of
their business. If they get their money then they should shut - up
and be happy."
--Linda
"I agree with it all. There are too
few laws which put a stop to all the underhanded dealings of credit
card companies and too many laws against the consumer."
--Shawn
"I agree with all of them. I've
fought battles with them over all of reasons given in the article at
some time."
--Steve
"They are out to only make money on
us. Period. The late fees, higher interest rates, unethical
practices, & print so small that even an ant couldn't read it
all attest to that fact."
--Amy
"I agree with all of them. I've
fought battles with them over all of reasons given in the article at
some time."
--Steve
"I completely disagree with them
having the ability to raise your rates because you are late on other
bills. That's like your home insurance going up because you had a
car accident."
--Kelly
"I really agree with all of them,
but these are the ones that really hit home. High interest rates,
Terms in fine print, Bait and switch, Penalties for being late to
others, Deceptive offers, Can't speak to a human, Fees."
--BP
Why do you hate your credit card
bank?
"We had maxed out our card at $1000
for some car repair bills. How did they reward us? By adding the
interest & then an over-the-limit fee of $29 because our balance
(aka the interest) took us over our credit limit. They did waive the
fee "just this once", but they've suffered for it because
we found some place else to take our business."
--Amy
"I get fees for things I don't want
because they send me "free 30 day" trials and then I have
to cancel before the 30 days is over and they don't seem to tell you
when your time is actually up. It takes weeks to get to you so when
does the 30 days start? How do they know, or do they approximate,
when you will receive it? I get these fees and then I have to call
them. You know how that is, hold, punch in numbers, hold forever,
get a real human being, tell them numbers, hold again, arguments
with them over what happened, then if you are lucky you get refunded
for what it was."
--Danielle
"Because I really hate being in
debt. And for many of the reasons stated in the article. I guess I
am not a responsible credit user (I really am not), but you would
think that I would learn. Nope. I reach my limit (on the card) and
then they are kind enough to raise it. It becomes a vicious circle.
One I am determined to get out of."
--Julie
"Because they are run by little
weasels that are lower than snail slime when it comes to treating a
customer like a customer. I don't always hate them, if they are
reasonable and give me good rates I will like them until they get
sneaky and try to screw me around like they all do."
--Kelly
"I have not used my credit card in
over a year , I think they should give me a bonus of some sort for
keeping their card !"
--Linda
"We recently got rid of our credit
cards in order to purchase a home. I admit it was hard to adjust but
now we feel better about spending within our means. We used to hate
making a payment only to be charged an over the limit fee due to the
finance charges putting us over."
--Shawn
"They practice usury if you are
late with a payment. They rape and plunder the pocketbooks of many
unsuspecting consumers. I keep a watchful, wary eye on them with no
tolerance for the stunts they usually pull."
--Steve
"I hate my credit card banks
because they also have a "knee-jerk" response to
everything you ask them. For example, you can call them to request a
lower interest rate and the customer representative always must put
you on the "obligatory hold". These banks know right away
whether you are creditworthy or not and they also know that they can
lower your interest rate. Instead, they'd rather waste your precious
time and energy by making you jump through so many hurdles."
--Anonymous
"We had maxed out our card at $1000
for some car repair bills. How did they reward us? By adding the
interest & then an over-the-limit fee of $29 because our balance
(aka the interest) took us over our credit limit. They did waive the
fee "just this once", but they've suffered for it because
we found some place else to take our business."
--Amy
"They practice usury if you are
late with a payment. They rape and plunder the pocketbooks of many
unsuspecting consumers. I keep a watchful, wary eye on them with no
tolerance for the stunts they usually pull."
--Steve
"I have called several times to set
up payment arrangements if I am going to be late, they do not want
to work with you. I started with Citibank at 9.9% and have been late
3 times in the past six months due to my husband bringing in less
income (he is in Sales-100% commission and I am a homemaker) I tried
to explain our situation to them, instead of trying to understand
our situation, they jacked up our interest rate to 24.99% which
almost doubled our minimum payment. The minimum payment that I could
not pay anyway. So, they get less money from us than they did
before. They are a blood sucking corporation. Like they say----the
rich just get richer!!"
--Tiffany
"I hate all credit card banks
because they use deceptive advertising with the intro rates of 2%
and then change it to 22% if you're late a day with one payment.
It's insane and highway robbery. Anyone else would be in jail for
the crimes they commit. They want to get us in debt and make us
slaves to the interest rates. They act like they are doing us a
favor. I am in a Chapter 13 bankruptcy and can't even apply for
credit and I still get pre-approved credit applications in the mail.
Well, no more! I want no more of credit cards or credit for anything
I can't drive or live in!"
--BP
What do you Think?
Read
the Article
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Survey
Reader Comments
"I keep forwarding it (the
newsletter) to friends and they are very happy with it, as am I. I
find lots of things to help me and others in each one. Thanks for
the help!!"
--Danielle
"Great newsletter, needs more
attention nationally or more noticeable to the general public so
these snakes in the grass credit card companies can be
exposed."
--Kelly
"The newsletter is one of the
most informative I have come across and is fun to read. Your
approach is so that the common man can understand and lacks the
boorish nature of an insurance seminar. I pass it on to everyone I
know. Your articles are interesting and give the realistic outlook
to getting out of debt. Thanks Scott to you and your family. Keep up
the great work."
--Shawn
"This was a great edition. Your
article on hating your credit bank was fun to read and also all too
true. I also enjoyed the articles of your other contributors. It is
also very easy to access any sites or articles referred to along the
way. Keep up the good work."
--Barbara
"Scott, I love this newsletter
not only because its informative, but it also let's me know that I
am not alone when it comes to the "Credit War"!"
--Anonymous
"Try some humor in this
newsletter will ya ? : )"
--Linda
--End--
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