Have any of you experienced any of these scenarios?
-- Been hit by universal default clauses on multiple credit cards.
-- Answered low-rate "pre-approved" credit offers but actually received cards with higher rates or lower credit lines.
-- Put your education expenses (or their children's) on their credit cards and then struggled to pay all the finance charges.
There is a reason why I ask this. But I need to know ASAP.
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Weekly Spending Report June 2012 #1
17 hours ago
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I answered a preapproved offer for up to $15,000 which I was going to use to consolidate all of my credit cards....but when I got the card I only got a limit of $500. I was so upset about that because it put a ding in my credit score and then the measly $500 would not help me at all.
I also used credit cards to pay for college and yup I am drowning in the bills to this day.
Yes on number two and number three. On the second one, I called to inquire about the supposed pre-approved offer, and was started terms different from what was written on the paper. For the second, it was my husband whose education was charged, and we are still working on paying it off over ten years later. The good news is, only $7000 to go.
kkonmmind: Do you have an email address? Email me if you can. I would like to talk to you for a sec.
Yes to number two, and on number three, I didn't put them on credit cards, but I did get student loans, which is almost the same thing.
Yes on #3. I thought I was going to get about $10,000 on a low-rate card (I wanted to consolidate my carda) and got about $1,000 which didn't make it worth transferring even a little bit of the balance. I didn't even call the number to activate the card. I thought it wasn't open until I activated it, but my credit report said otherwise.
I answered a letter that said I could consolidate my debt with a loan that had a 7.99% interest rate. I called the number, was approved, and when I got the check and the paperwork a few days later, the interest had changed to 11.99%. I was furious. So I called the customer service line and told them that I had shredded the check and to forget it. (when I first called and applied, I was told that the loan wouldn't go into effect until I actually cashed the check anyway). Made me so mad. I finally consolidated with my credit union and have a fairly good rate.
Melinda in SC
no but I got approved for a 0% for a year, which ended prematurely and raised to 26%.
None to any of them, but I am curious to why you are asking, do you have some good advice on alternatives?
Hey LeighAnn, what is your email address again?
My email is on the side.
It is saveleighann@yahoo.com
I can't tell you just yet, why I asked these questions, but you will soon find out.
My email is on the side.
It is saveleighann@yahoo.com
I can't tell you just yet, why I asked these questions, but you will soon find out.
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