credit cards

Wow never heard of that happening before. It seems like they would have just upped your interest rate instead of closing the account. Since you have A1 credit.

I agree, these companies can do what ever they want and we have no control at all, really a bunch of crap.

goodnatured have you heard of this before? I know the ones I had in good standing closed mine but that's because I filed bankruptcy. But I've never heard of this happening to someone with A1 credit.

I also have never heard of this. I tell you the rules are changing faster than what the average card holder can keep up with. What I can not believe is how the new laws were not expected to take place until next year. Did the Obama administration not figure out that they gave these credit card companies a lot of time to play with to raise rates and make changes like this one? Surely such a highly educated person should have known this was going to happen. I can not see why he does not step in and yell WHOA.. we the people bailed your butt out and now your doing what!?!??

They are only going to do what they can get a way with, people need to be filing complaints with states attorney generals office so that they are aware of what is going on and they can fight for the everyday consumer.

People are powerful in numbers, if you think your voice is unheard, then you are not singing in the right ear, take every chance you can to let the powers that be know how you feel. contact your local representatives, your state representatives, your state attorney general and others who are large and in charge. Someone, some where will address the issue, they just need to know that their constituents need their voice to be heard on the subject.

Can you seriously sit at your desk and believe the atty general does not already know what a nightmare these credit card companies have become for the average American? Surely he and our wise president watch the news or at least have someone do it for them. These ugly tactics credit card companies are using has been the main topic on display for months. Do you see anything getting done? We all know who holds the true power. Everyone need to either lobby outside the white house or pay all their accounts and not open anymore..then they would see who really held the power when their pockets were empty at days end.

soon it won't be a consumer choice, they are making it very difficult to open new accounts.

It used to be that you opened a credit card to start building credit, these days you open them to repair your credit. Hard to say what will become of all this, I can not see the everyday consumer continuing these accounts, they will eventually pay them off and get out of the account completely. OR there will be a lot more in collections if they continue to make them unaffordable.

You know I had my feel of credit card company's along time ago. With them ripping people off. But of course I had to go and get another one to be able to reestablish my credit. If it wasn't for that they could have kept it because I'm with you they have given them to much time to figure out how they can still rip people off.