Latest topics
» I see this board has been quiet
Tue Jun 07, 2016 1:24 pm by Knight1009

» Hello Ya'll. *Theirmommie*
Tue Nov 17, 2015 9:42 am by my_lucid_bubble72

» 20 % of Americans Struggle To Buy Food
Thu Jul 16, 2015 1:00 pm by pbrad009

» The Make Some One Day Challenge
Wed May 27, 2015 12:32 pm by Prof_NSA

» Clues to why they not hiring you
Sun Apr 05, 2015 5:25 pm by Sandra5yearsunemployed

» New Year Nothing Change
Tue Jan 20, 2015 5:48 pm by Prof_NSA

» UF2 Members Chat Thread: Part 3
Mon Jan 19, 2015 4:01 pm by member

» Passed?!?! H.R. 3979: Emergency Unemployment Compensation Extension Act of 2014
Fri Dec 19, 2014 4:24 pm by charliekerper

» Forbes: America's #1 Problem is Jobs, Not Debt
Sat Nov 15, 2014 10:50 pm by jmainframe

» Economy just getting worse
Mon Oct 06, 2014 12:16 pm by oncemore

» UFO 2.1 VIDEO JUKEBOX - Our Chords & Keys To Ascension
Mon Oct 06, 2014 6:33 am by 

» January Jobs Report: U.S. Economy Adds 157,000 Jobs; Unemployment Rate Up To 7.9 Percent
Fri Oct 03, 2014 11:23 am by DesperateInRI

» Hey Guys!!!!
Mon Sep 29, 2014 9:17 am by pbrad009

» Up all NIGHT WORRIED!
Thu Sep 25, 2014 11:56 pm by pbrad009

» things are going to get worst
Sun Sep 21, 2014 7:51 pm by 

Social Networks
September 2016
SunMonTueWedThuFriSat
    123
45678910
11121314151617
18192021222324
252627282930 

Calendar Calendar


Here's a cute little trick the credit card companies are doing

View previous topic View next topic Go down

Here's a cute little trick the credit card companies are doing

Post by gab1138 on Sun Feb 20, 2011 9:08 pm

I called my credit card company to see what sort of assistance they could give me to keep from getting behind on my credit card payments. Since my unemployment compensation had run out, they couldn't give me anything since I had no income coming in.

A month later, I received a letter from the credit card company saying that because of this, that and the other, namely a "review" of my account, they were lowering my credit limit.

When I called to ask them about it, they then asked me what my income was. I finally gave them last years income. They then used that to justify their action to lower my credit limit. NOT because I was behind or late on any payments (I'm current with them) - ONLY because I had called them a few weeks ago. Once they got my last years income out, they then used that information to justify their prior decision. I argued with them that I'm not behind, and that I'm still able to make payments, but to no avail.

So, the warning is, 1. Don't call your credit card company and ask for help, they won't give it; and 2. Don't call them even to ask for information about help. They will use that as a trigger to review your account and to lower your credit card limit.

I've been using the credit card, in addition to retirement savings to keep my head above water.

The same bank tanked the economy, which put us out of jobs. Then they got billions in bailout from the government. AND then they started SCREWING over those of us who they put out of a job AND got tax dollars from for their bailout.

On the other had, I bet business is booming and jobs are available for the taking in banking collections...

gab1138
Member

Posts : 1
Join date : 2011-02-20

Back to top Go down

Re: Here's a cute little trick the credit card companies are doing

Post by Guest on Sun Feb 20, 2011 9:41 pm

That's a misconception. It's not the credit card companies that are doing this but rather the banks that issue your credit cards. This has been going on for a long time and they're using credit scores, amount of income and other factors in lowering your credit limit. If banks think that you're not working or that you have no source of income coming in, then they'll affect your credit limits.

Also, banks don't consider unemployment compensation as a valid or stable source of income and they would consider that a factor if they wanted to terminate your account.

I would check out your states website or contact your state attorney general in figuring out how to proceed.

Guest
Guest


Back to top Go down

Re: Here's a cute little trick the credit card companies are doing

Post by Guest on Sun Feb 20, 2011 10:33 pm

I found trick that the collection agencies are using...
My husband had a citibank visa gold before getting laid off. he had an 8k credit limit and we had used around 4k. when he got laid off, he called to see if he could make lower payments and cut the limit back. they said no. so we sent what ever we could for as long as we could and then eventually they referred the acct. to a collection agency. they took him to court saying he owed them 12k...the judge dismissed it and that was it, thrown out!!! we were shocked but happy. then a few months later another notice came from a different credit agency but for the SAME BILL. so all they did when it was dismissed was ship it to one of their of affiliates and try to claim it again. we have the paper work saying it was thrown out in court but they are still taking him back to court.

Guest
Guest


Back to top Go down

Re: Here's a cute little trick the credit card companies are doing

Post by Jobless_in_Ma on Sun Feb 20, 2011 10:57 pm

Sick & Tired wrote:I found trick that the collection agencies are using...
My husband had a citibank visa gold before getting laid off. he had an 8k credit limit and we had used around 4k. when he got laid off, he called to see if he could make lower payments and cut the limit back. they said no. so we sent what ever we could for as long as we could and then eventually they referred the acct. to a collection agency. they took him to court saying he owed them 12k...the judge dismissed it and that was it, thrown out!!! we were shocked but happy. then a few months later another notice came from a different credit agency but for the SAME BILL. so all they did when it was dismissed was ship it to one of their of affiliates and try to claim it again. we have the paper work saying it was thrown out in court but they are still taking him back to court.

I can see it now. Debtors prisons. I went through a nightmare with creditors. Eventually filed bankruptcy (no choice) My phone stopped ringing.

Jobless_in_Ma
Administrator
Administrator

Posts : 2348
Join date : 2011-02-16
Age : 42
Location : Ma

http://www.unemployed-friends2.org

Back to top Go down

Re: Here's a cute little trick the credit card companies are doing

Post by Guest on Sun Feb 20, 2011 11:08 pm

We filed bankruptcy and it backfired on us. I used one of those "find a lawyer in your area" tools online. we had to submit a small explanation of our circumstances then wait to hear from a lawyer. The lawyer we went with totally screwed us and we found out too late that he was also one of the lawyers our mortgage co. used for their foreclosures in our area...we lost our house because of him. he missed some of the important deadlines and lied. He is now no where to be found.

Guest
Guest


Back to top Go down

Re: Here's a cute little trick the credit card companies are doing

Post by Guest on Sun Feb 20, 2011 11:10 pm

Sick & Tired wrote:We filed bankruptcy and it backfired on us. I used one of those "find a lawyer in your area" tools online. we had to submit a small explanation of our circumstances then wait to hear from a lawyer. The lawyer we went with totally screwed us and we found out too late that he was also one of the lawyers our mortgage co. used for their foreclosures in our area...we lost our house because of him. he missed some of the important deadlines and lied. He is now no where to be found.

LMAO I just realized how that last sentence sounds!! He is now no where to be found because he disappeared on his own, not because of something we did to him LOL but believe me I wanted to hurt him!!

Guest
Guest


Back to top Go down

Re: Here's a cute little trick the credit card companies are doing

Post by Jobless_in_Ma on Sun Feb 20, 2011 11:11 pm

lol!

Thought he got some cement slippers for X mas or something. Ha ha

Jobless_in_Ma
Administrator
Administrator

Posts : 2348
Join date : 2011-02-16
Age : 42
Location : Ma

http://www.unemployed-friends2.org

Back to top Go down

Re: Here's a cute little trick the credit card companies are doing

Post by Guest on Sun Feb 20, 2011 11:29 pm

maybe he screwed the wrong person LOL
I tried to call his office one day and him and his co workers were no longer there. He is not even on the Bar Associations website anymore affraid

Guest
Guest


Back to top Go down

Re: Here's a cute little trick the credit card companies are doing

Post by RookieCAF on Mon Feb 21, 2011 12:06 am

I could tell a bunch of Lawyer Jokes but I won't Wink

RookieCAF
Member

Posts : 79
Join date : 2011-02-20

Back to top Go down

Re: Here's a cute little trick the credit card companies are doing

Post by Jobless_in_Ma on Mon Feb 21, 2011 12:16 am

Sick & Tired wrote:maybe he screwed the wrong person LOL
I tried to call his office one day and him and his co workers were no longer there. He is not even on the Bar Associations website anymore affraid

scratch Cement slippers for sure.

Jobless_in_Ma
Administrator
Administrator

Posts : 2348
Join date : 2011-02-16
Age : 42
Location : Ma

http://www.unemployed-friends2.org

Back to top Go down

Re: Here's a cute little trick the credit card companies are doing

Post by americatheneedy on Mon Feb 21, 2011 6:15 pm

I called my card company for help. They immediately lowered my credit limit to my current balance.

americatheneedy
Member

Posts : 311
Join date : 2011-02-21
Location : North Carolina

Back to top Go down

Re: Here's a cute little trick the credit card companies are doing

Post by pbrad009 on Wed Sep 03, 2014 12:47 pm

Credit cards should really only be used when absolutely necessary. I hope by now everyone is out of debt and back on their own feet.

pbrad009
Member

Posts : 46
Join date : 2011-03-07

Back to top Go down

Re: Here's a cute little trick the credit card companies are doing

Post by Sponsored content Today at 7:26 pm


Sponsored content


Back to top Go down

View previous topic View next topic Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum