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I had a capitol one and had the exact thing happen almost

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goodnatured



Joined: 03 Nov 2007
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543 Magic Points

 
Posted on Wed Jul 09, 2008 2:55 am  

They have all kinds of little tricks to keep people paying on these cards, I know fingerhut keeps raising our credit limit like this.
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lostrikan24



Joined: 07 Jul 2008
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Posted on Wed Jul 09, 2008 3:15 am  

Yeah, because they know the average person will use up the extra credit. If left alone, they are helping us by raising our credit limit. Little scams left and right =)
anthony

anthony

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Posted on Wed Jul 09, 2008 5:17 am  

yes you are right goodnatured. But I think that using up the extra credit does not necessary hamper your credit score so long as you pay back the debt in time and use not more than 30% of your credit limit. But the most important part of the thing is that most people cannot keep track of their spending and end up with unpaid debt, which one should avoid.
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Anthony Marx

A positive attitude is not achieved by turning a blind eye to the negative, but rather by responding to every situation in the most positive way possible.
goodnatured



Joined: 03 Nov 2007
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Posted on Thu Jul 10, 2008 2:41 am  

True, either way use it or not, I guess if you pay it back with in the 30 days it really does not matter, you will still have your 30%, I guess it takes some thought and discipline in what to do with the extra credit that they slap on you. LOL.
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sdchargers_63

sdchargers_63

Joined: 13 Aug 2007
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Subject: credit
 
Posted on Mon Jul 14, 2008 10:57 am  

I had a CC, that was one of those 'bad credit CC' things. they din't raise my credit automatically.I had to apply to have it raised. Did you know if I DID apply for an increase, and i was turned down, that the CC company would report that to my CR? ..that i was "denied credit?" How can they do that...legally?
goodnatured



Joined: 03 Nov 2007
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543 Magic Points

 
Posted on Tue Jul 15, 2008 3:09 am  

That does not sound right, you already have the card right?
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sdchargers_63

sdchargers_63

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1916 Magic Points

Subject: cc
 
Posted on Tue Jul 15, 2008 4:13 am  

I DO still have the card, but, I closed the account. I don't know how a CC, with a $300.00 limit, can get to be almost $700.00 in "fees and %". Everytime I called the CC company, they couldn't give me answers...kept transfering me to other departments.
goodnatured



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543 Magic Points

 
Posted on Wed Jul 16, 2008 2:33 pm  

I know what you mean, I had one that was $300 from capital one, by the time they get done adding late fees and the over the limit fees because the late fees made it over the limit, the card ended up being around $1500, it was settled out for much less, but they did jack it up to that much before it was all said and done.
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Guest







 
Posted on Sat Jul 19, 2008 5:51 pm  

How did you even get tham to settle for this lower amount goodnatured? I had a capitol one and had the exact thing happen almost. What threw mine over the limit was suppose to be one of those one time activation fees. They explained the card to me over the phone and never said anything about an annual fee. Being very young and dumb I areed. When the year mark came along the charged me another $99 and boom over th limit and late fees. It just spiraled out of control after that.
they would not work with me AT ALL! They wanted molre from me a month than I could afford and just kept racking up the bill. I finally gor exasperated and just quit paying. I was sending in more than what I could afford and still when the next bill came in the payment would be double what the last one was and a huge monthly payment. That was 6 years ago. I am glad they got rid of this tlemarketing bull crap. It would be too easy for teens these days to except offers like that. The best thing ever invented was the Do Not call list. Had they had one back then I wouldn't have had that card.
fireyone



Joined: 26 Feb 2008
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132 Magic Points

 
Posted on Sat Jul 19, 2008 5:51 pm  

How did you even get tham to settle for this lower amount goodnatured? I had a capitol one and had the exact thing happen almost. What threw mine over the limit was suppose to be one of those one time activation fees. They explained the card to me over the phone and never said anything about an annual fee. Being very young and dumb I areed. When the year mark came along the charged me another $99 and boom over th limit and late fees. It just spiraled out of control after that.
they would not work with me AT ALL! They wanted molre from me a month than I could afford and just kept racking up the bill. I finally gor exasperated and just quit paying. I was sending in more than what I could afford and still when the next bill came in the payment would be double what the last one was and a huge monthly payment. That was 6 years ago. I am glad they got rid of this tlemarketing bull crap. It would be too easy for teens these days to except offers like that. The best thing ever invented was the Do Not call list. Had they had one back then I wouldn't have had that card.
goodnatured



Joined: 03 Nov 2007
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543 Magic Points

 
Posted on Sat Jul 19, 2008 10:08 pm  

Once it goes through so many collectors, they will then offer you a deal. They will usually accept 70% of the debt. that is industry standard.
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fireyone



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132 Magic Points

 
Posted on Mon Jul 21, 2008 1:00 am  

Wish they would do this for me and I had the money. I know it is past SOL and about ready to fall off but to be rid of the hassle. then I figure why bother they won't work a good deal and I will continue getting calls due to the other ladys debt.
fireyone



Joined: 26 Feb 2008
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Posted on Mon Jul 21, 2008 1:00 am  

By the way is that the original debt before all the outrageous fees or with them added on?
goodnatured



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543 Magic Points

 
Posted on Mon Jul 21, 2008 2:54 am  

I think that they should have a limit on what they can charge, I had one card that was $300 and when it was all said and done, they ended up charging me over $1500, they should not be able to do this, I think they need to say, once you hit a certain amount that is the limit it can be.
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CMBV22

CMBV22

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Posted on Mon Jul 21, 2008 6:38 pm  

sdchargers_63,

The fact that you were over your limit is most likely why they not only did not automatically increase your credit but also denied your requests for an increase.

Many ppl pay the min each month (2%) and do not understand why the balance barely moves, if at all. Remeber, If you are paying 19% intrest ( common rate on 300 cards) thats almost 1.6% interest. That means only .4% or 4 cents out of every dollar goes to your balance. I have a more indepth article on my website if you want to know more.
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