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Watch your credit cards

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Bonibelle:
Funny you should bring this up Nitro. I have two credit cards standing...haha..none through Chase though. One is through my credit union and the other is a Capital One. Capital one has notified me that in February 2010 my rate will go from 4.5% to 15.5%. They sent that information in the mail and also gave me a call.

Anyway, recently I got a letter from some bank that I have never even heard of offering to pay off my credit cards with a loan. They had the exact amount of what I owed on my cards down to the dollar. I got very angry because I never authorized ANYONE to sort through my credit ...I filed a complaint with the FTC...and for a government agency, they were pretty good to deal with. This bank violated laws and I am now going to file a complaint with the Pennsylvania Attorney General. Turns out a friend of mine also got the same letter with the same offer and the amount was exactly what she owed..so they did access our credit reports.
I may even send this info to the local TV channel and let them do an investigation. This is Bull and no one has a right to dig into your credit with the purpose to lend you money without your permission!!   >:( >:(

..I will however say it again, if you can get into a credit union, that is your best bet. They are owned by the members and have friendly business practices..and NO credit unions were bailed out by the government. ;)

Bonibelle:
And we wonder how the banks went down the tubes...and took us with them....This from AOL news:

Bank Mistakenly Sells Couple's Home
Despite being up to date on their mortgage payments, a Phoenix couple mistakenly had their home placed in foreclosure and sold.

Jeff and Yanthy Zerner were approved for a mortgage modification with Chase just days before they received a notice giving them five days to vacate the property, a KPHO-TV, Phoenix story said. When Jeff Zerner contacted the number on the notice, he was told the house had been in foreclosure, and it had been bought.

Chase admitted the error and apologized to the couple, the story said. They are also meeting with the couple to work out a solution.

Dr. Spa™ Ret.:
Something isn't right with that story. From everything I know about mortgage modifications, you have to be 6 months delinquent on payments before the lending companies will even begin talking to to you about possibilities (I know someone that was 14 months delinquent when their modification went through). Hence, if they were but approved, they would have still been months behind on payments.

Bonibelle:
Do a search with the couple's names..you will see multiple renditions of the story. Yeah something is seriously wrong, but it looks like the problem was with Chase Bank..

Vinny:
I have a friend with a Citibank card and they raised his rate to 30% and he too had never paid late. I think it's a way to get consumers to bail out the banks AGAIN! They are all scrambling to get it in before the Federal deadline. Yeah, the government screwed us again ... they passed a law then they gave the banks months to comply and now have turned their back. Funny thing is you would think they wouldn't want to alienate customers since eventually things will go back to normal.

I think the best thing to do is to buy Mastercard and or Visa stock, use their CC and pay it off totally every month. You will see their stock soar and maybe even get a dividend from them while the banks get nothing or very little.

I now have a Schwab Bank Visa that gives me 2% cash back automatically. I have recurring payments on it (heck I have to pay bills) and I get a 2% discount on them - not much but it goes into my pocket.

I also paid off the car loan, I had the loan down to $160 a month but was paying $360 a month toward it; Chase upped my payment to $370 a month and I never missed a payment. I said they can go scratch - I will pay myself the amount I was paying Chase and they won't earn another penny from it!

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