E-Trade Just Rasied my Interest Rate

And my credit score just jumped up.

Thats sucks..... I think he will be a one termer if thats any consolation.

That is my only consolation.

Had my GM card for several years, $7500 limit, used it for everything I could, but paid it off every month. It accumulated 5% of each purchase I used towards new cars, that's the only reason I used it.

I owed the IRS some $ so got an interest free charge card, charged my IRS due amount, and only used that card. So, GM card left alone for three months. Got a notice GM reduced my credit limit to $300 (yes, three hundred). Called and said because I hadn't used it...?????

Called and no changing their minds.

Wow!

Gave up credit cards here. Our money is invested in land. Three properties totalling 100 acres. After reading Linda article on the dollar, will be investing in gold and silver.

i dont think there is money to borrow they say banks have lots of money in them they sure dont want to loan it out at the moment.

That's what I think. I don't think they want our business.

They do not care about us at all!! They want to make the most money they can at our expense

Why should they worry about customers when the Fed simply gives them money because they are too big to fail.

This is crazy!

So you have a credit card you don't use and admittedly don't need (which means they don't make any money off you) but they change terms, you close the account and it's the Presidents fault?
The Banks are all tightening up credit limits and terms .....guess they remember the old idea of people getting a terminal illness and deciding to blow all their available credit before they expire!
Best advice I have heard is to take your money OUT of all the cocky BIG banks and use Credit Unions OR local banks exclusively.
Nice if we act the same when our Insurance Company raised our premiums last time? Nice if we COULD strike back at them in such a way....or even threaten to drop them.

Do I not have the right to have good credit and have a card to use when needed for emergencies? When it bites your butt, you defend him. The corporate world sucks.

That's one big increase. You're right in not using it now. How could anyone afford an interest rate jump like that?

They told me their doing it to all their customers.

All the companies are taking advantage of the time between when the law was passed and when the law goes into effect to do whatever they can leagally do before they no longer can.

Credit cards keep pulling that crap..All they will see is alot of folks going into default. No one win's with that. =(

back in my dad's day we never had credit card,, if you didn't have the cash you didnt need the stuff that bad. We only have one credit card now, ane my hubby credit is in the excellent rate, we just refinace our home at a 4.75 % for the next 30 yrs, and we save over 250.00 a month, the current was at 9.75%

Obama doesn't care about any of us.

Three years ago I cut up all our credit cards and got them paid off - they were constantly changing theinterest rates, due dates etc and I just got fed up with it when I realized one of them was billing on a four week cycle - this meant some months you might have to pay them 2 payments! They are all gone and it is such a relief!

These guys never give up do they. America could absolutely be out of cash and they would still raise rates. It is beyond me.

Christopher B. is correct.. I believe it is in 2010 that Congress passed a law that the credit card companies no longer can jump up the interest on someone for being late on the payment or just jump it up to bleed more customers... It was on the news that now the credit card companies are doing this to good customers too, just to bleed them of more money... You did the right thing by cancelling it, if more people did this,,, these companies wouldnt get away with legally robbing the people.... I wouldnt of given these companies the time to do this if I were Congress though, or put a clause in there that this would be against the law... I think that alot of the politicians are on the board of directors or somehow connected to these credit card companies anyway...look at how hard they have made it now to pull a bankruptcy ...

If you play with snakes, you will be bitten when you use OPM.