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HomeCredit ForumLoan Management

Can a credit card company change the rate on a loan?

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hummingbird



Joined: 10 Jan 2008
hummingbird's page
Posts: 129



724 Magic Points
 
 Posted on Mon Jan 14, 2008 4:47 pm  
Be very careful with the fine print. Most of the ones I know of give one rate but then if you are late , the rate goes through the roof. I am lucky, I have above everything else for the past year, never had a late payment.
 
Laura

Laura

Joined: 21 Jun 2007
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Posts: 1409



34318 Magic Points
 
 Posted on Tue Jan 15, 2008 11:52 am  
This is true that the rates will increase if you show a pattern of late payments. After all you borrowed from them. It is always in your best regards if you pay on time.
_________________
Regards,
Laura.
 
hummingbird



Joined: 10 Jan 2008
hummingbird's page
Posts: 129



724 Magic Points
 
 Posted on Tue Jan 15, 2008 7:02 pm  
Yes, I had read that somewhere before. It should never have been that way to begin with. I think all companys should adopt that practice.
 
erb1953



Joined: 31 Dec 2007
erb1953's page
Posts: 587



1368 Magic Points
 
 Posted on Mon Aug 25, 2008 11:53 am  
I agree hummingbird, in the fine print is where all the stuff is that people usually ignores and gets them in trouble. It is so easy to overlook all this stuff though, that is why they call it fine print.
 
fireyone



Joined: 26 Feb 2008
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Posts: 2029



10771 Magic Points
 
 Posted on Mon Aug 25, 2008 11:54 am  
Companies will claim they are reputable and not dishonest but why do they put stuff in fine print if they aren't trying to claim an unsuspecting soul?
 
goodnatured



Joined: 03 Nov 2007
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Posts: 2627



4919 Magic Points
 
 Posted on Tue Aug 26, 2008 1:17 am  
Well it is our responsibilty to read all the junk, fine print or not.
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
fireyone



Joined: 26 Feb 2008
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Posts: 2029



10771 Magic Points
 
 Posted on Tue Aug 26, 2008 1:28 am  
Junk is exactly what it is. I still think fine print should be outlawed.
 
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 2627



4919 Magic Points
 
 Posted on Tue Aug 26, 2008 3:10 am  
It has been around for a looooooooooooonnnnnnnggggggg time, I have heard all the elders say about the fine print.
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 2029



10771 Magic Points
 
 Posted on Tue Aug 26, 2008 8:07 pm  
Thats true. Good thing I have a good set of contacts in. I also think it wouldn't hurt them to explain and make consumers aware of all the fine print. When filling out an app. they should have a place for the applicant to sign saying the read all the fine gory print.
 
Guest







 
 Posted on Wed Aug 27, 2008 12:54 pm  
Once should go through the terms and conditions before going for a credit card. Once you start using these cards, it is assumed that you accept the terms and conditions and are willing to pay the interest and other charges. So one should always be careful while applying for a credit card.
 
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 2029



10771 Magic Points
 
 Posted on Thu Aug 28, 2008 12:19 pm  
I know where you are coming from Dadummy. I use to hear this from my teen all the time. If you live like that money isn't there then it will be if you have an emergency. After a tough winter and coming close too many times to a zero balance in my checkbook, as soon as I got back to work I threw $400 into it but didn't add it in the total. Kind of like my own over draft protection.
 
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 2627



4919 Magic Points
 
 Posted on Mon Sep 01, 2008 2:19 pm  
That is smart, if you have the extra money to do it.
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 2029



10771 Magic Points
 
 Posted on Tue Sep 02, 2008 1:14 am  
Sometimes it is as simple as adding a few extra dollars a pay. I find that easier than paying the bank fees on returned checks. Like a little investment of sorts.
 
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 2627



4919 Magic Points
 
 Posted on Thu Sep 04, 2008 12:39 am  
It would not be hard to do the $10 or $20 thing, my problem is that I access my bank account information about every morning online to keep an eye on things, I always know what my balance is.
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 2029



10771 Magic Points
 
 Posted on Thu Sep 04, 2008 12:40 am  
I only do it around statement time. I hate to look at the dismal picture so I figure once a month is enough.
 
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