Goodbye Disney Visa

[CathrynRose]

What is wrong with this picture.... those of us who have good credit and excellent payment histories are the ones that banks and lenders are targeting. Rather than treating us with respect and good customer service they are treating us like we are dead beats. Yet we faithly pay our bills and support their companies by doing business with them. You would think that those of us that are excellent customers should get some respect. Hello we are the ones helping to keep your company in business so if you want to retain me as a customer don't treat me like ****..

Yet if we were behind in our mortgage and have not paid our credit card bills well that is another story. The banker would be there to help you out of the mess you have gotten yourself in with the numberous programs out there to help the poor who have no money and bad credit!

WHAT IS WRONG WITH LENDERS!

No kidding. What would have happened if I (or the OP or anyone) had paid a big ol' chunk to them, and left for vacation, having planned on using it - and then you get there and your CC is declined, because they lowered your limit???

Ive been fuming about this for like 3 weeks.

 

[LovinPooh]

Knock on wood we havent had an issue with Chase yet. We had a huge issue with Citi, to the point where DH had to call them 4 times in one week and he was so infuritated that he told them to stick their 'diamond prefferred' card where the sun dont shine lol. We are the people that ALWAYS pay on time and never go over the limit. All of that over a $39 late fee when the payment wasnt late. They wouldnt take it off. If you ask me alot of these CC companies are like shooting themselves in the foot!! Appreciate and reward good customers, dont treat them like dirt!

I too wondered what Disney thought of Chase lowering the limits.

 

[Boston Tea Party]

I am in the same boat. I am working on "firing" all of my creditors. Wal Mart got fired (paid in full) and then lowered my limit to $100. ONE HUNDRED DOLLARS!!! I called to close that sucker. I don't care about a "hit" to my FICO. It's not worth that. Dang card was worthless anyway.

DH called to close one of his cards after "firing" them and they just about bent over backwards to keep him. Nope, stuck to his guns - "You're FIRED."



So far this year we've paid off over $6500 worth of debt. Keep that snowball rolling!

 

[parkers*momma]

I want to thank the OP and PP for the heads up. We were debit free but had a couple car/truck issues and put them on the Chase instead of tapping into the savings. We could pay a 1/3 of the balance each month for three months for very little interest.

Today, I decided to heck with it and wrote a check for the total amount...I hate paying interest. I figured I would pay that off now then I put our trip on it next month....it would be basically interest free for 6 months. Then I found this thread and tore up the check.

Who knows, I could have paid it off then possibly my limits lowered and then struggle to come up with our package balance and spending cash for our trip without dipping to much into our savings.

THANK YOU FOR THE HEADS UP. I'd rather pay interest for a couple months and have the cash for our trip than to pay it off in full, getting our limits slashed, and using our savings account to pay for the trip.

 

[CathrynRose]

I want to thank the OP and PP for the heads up. We were debit free but had a couple car/truck issues and put them on the Chase instead of tapping into the savings. We could pay a 1/3 of the balance each month for three months for very little interest.

Today, I decided to heck with it and wrote a check for the total amount...I hate paying interest. I figured I would pay that off now then I put our trip on it next month....it would be basically interest free for 6 months. Then I found this thread and tore up the check.

Who knows, I could have paid it off then possibly my limits lowered and then struggle to come up with our package balance and spending cash for our trip without dipping to much into our savings.

THANK YOU FOR THE HEADS UP. I'd rather pay interest for a couple months and have the cash for our trip than to pay it off in full, getting our limits slashed, and using our savings account to pay for the trip.

You're welcome.

I thought I was close enough to my vacation window, plus the fact I had put the deposit for the trip and airline tickets on it... I thought I was safe. No late payments, nothing.

 

[dsny1mom]

I feel I am a great CC customer. I pay off my balances every month, never go over limit and am never late.

I don't think the CC see me in the same light. They make their big bucks off of interest, over limit fees and late fees. They make none of that off of my accounts.

I really feel that the CC are cutting back on the limits of those that don't rack up interest and fees as somewhat of a punishment for not feeding into their greed.

The current line being given as to why good customers are having their limits cut is a load of malarky, IMHO. They are cutting the limit of those that don't generate interest and fees so they can open more accounts in hopes they can make more money off of new customers.

This thread has posts of great customers having their limits cut. I just got a Disney Chase a couple of weeks ago with a huge limit. If they are really cutting limits out of necessity they wouldn't be giving huge limits to new customers. They made a poor choice with me, however. I only opened the account to get the free $100 GC and to rack up points for my DL trips while paying everything off each month.

dsny1mom

 

[DISdreamin']

I just checked my credit limit and it was the same as ever. I just don't get it!

Citi, OTOH, closed an account on me that I had had forever. I called and asked that it be reinstated so that I didn't lose my longest standing card. Now here I sit thinking I should call and just say "close it". LOL!

I have not had a single charge card - of ANY kind - in over 8 years now. If I can't pay cash for it, I don' get it.

Just to be clear, because someone uses a credit card doesn't mean they can't pay for the item in cash. Personally, up until recently I was using an AmEx card for airline mileage and just paying it off at the end of the month....until I did the math and realized that, although we DO always use the accrued mileage, we were probably not making anything off the deal - in fact, it was really costing us because we'd spend more with the cc than we would if we had to hand over the green paper stuff!

Anyways, just wanted to point out that using credit cards does not necessarily equate to spending money you don't have!

 

[dd50]

Most credit card companies are slashing limits. They are trying to protect themselves. If they aren't slashing limits they are raising the APR. My advise is don't carry a balance if you can help it and if you carry a balance keep it as low as possible. I always go online to check my limit before I make a purchase. I am a little apprehensive about paying my trip balance with my card. I do plan to pay it off next week tho and I love the 1 or 2% cash back.

 

[DISdreamin']

I feel I am a great CC customer. I pay off my balances every month, never go over limit and am never late.

I don't think the CC see me in the same light. They make their big bucks off of interest, over limit fees and late fees. They make none of that off of my accounts.

One additional source of revenue for CCs is that retailers pay a fee to accepts credit cards, I believe - I think I heard that it's 2.5% for MC or Visa and 4% for AmEx. Last year DH and I charged (GULP!) more than $25K on AmEx. We didn't pay a cent in finance charges, but AmEx made $1K from the *retailers* that took our card. So even with our not paying anything (well, except for the annual fee for the card), AmEx still made out!

 

[parkers*momma]

See that's us. We are never anywhere near our limit, always pay it off that month or the month following if it was a major unforeseen purchase/repair (like when the car and truck died this month and we had $3500 going out to fix them), never been late, so when I read this thread, I'm not taking any chances.

It's sad that we have to worry about credit scores and credit/debit ratios just to be slapped in the face by CC companies. Dh and I worry about our credit score and yet our neighbor gets a CC, runs it up, walks away and brags to us about it being "no biggie" because they can't get anything because he doesn't own anything. Man I would love to slap him when he says that!

 

[singnring]

See that's us. We are never anywhere near our limit, always pay it off that month or the month following if it was a major unforeseen purchase/repair (like when the car and truck died this month and we had $3500 going out to fix them), never been late, so when I read this thread, I'm not taking any chances.

It's sad that we have to worry about credit scores and credit/debit ratios just to be slapped in the face by CC companies. Dh and I worry about our credit score and yet our neighbor gets a CC, runs it up, walks away and brags to us about it being "no biggie" because they can't get anything because he doesn't own anything. Man I would love to slap him when he says that!

Oh, I can one-up that deadbeat!!

DD is in the process of divorce.

Back in April of 08 (they were already split) her ex decided he was going to file bankruptcy - didn't tell anyone but his scum lawyer.

Over the next 4 months, he ran up all existing cc to their limits and beyand, plus, took out more cc's and put over $10,000 on those ones.

Quit payments on the house (lived there for free for over a year!! $850/mo pmt ignored!!)

Meanwhile, DD is paying off her bills to save credit rating from three onths of damage he had done before the split.

Then told everyone he had to file Bankruptcy.

DD's name was on some of the bills, including 2 houses, so she was forced to file w/ him in spite of her bills being paid off. (agreement was for her to pay certain bills, and he was to pay certain ones)

We are now fighting in divorce hearings to try to recoup some of the $$ she had to pay while he got off w/out paying anything!!

I don't understand our system that allows deadbeats like this to run up debt and walk away from it, then those who pay their bills on time get shafted.

 

[nunzia]

Wouldn't it be great if we could all just Ramsey all our CC and cut them up and never use them? I'd love to put the CC co of business (if you work for a CC sorry )

 

[Dis_Yoda]

They lowered mine from 2,500 to 600. I called them that day (I check it online) and said excuse me?

Apparently I was risky because they saw my $200,000 mortage show up

Nevermind that my income had also doubled from the time I originally got the card.

They gave me my limit back in that phone call though.

 

[blaze1599]

I am sure I am in the minority here but I dont think that CC's are the problem so much as the user. This thought could probably be applied to many problems in our society along with the CC's.

I for one use my cc's for everything including about 10K a month in business expenses and pay the cards off at the end of the month. never paid a penny of interest either. The benefit for me is a free disney trip almost every year thanks to the Disney card and a few hundred dollars thanks to the Discover card for spending money or to use as Christmas money.

Just thought I would voice my opinion on the topic.

 

[HeyIt'sMe]

I am sure I am in the minority here but I dont think that CC's are the problem so much as the user. This thought could probably be applied to many problems in our society along with the CC's.

I for one use my cc's for everything including about 10K a month in business expenses and pay the cards off at the end of the month. never paid a penny of interest either. The benefit for me is a free disney trip almost every year thanks to the Disney card and a few hundred dollars thanks to the Discover card for spending money or to use as Christmas money.

Just thought I would voice my opinion on the topic.

But what is upsetting is that the CC companies are treating 'Good Customer A' just like 'Bad Customer B'. It's like punishing the whole class because one child was misbehaving.

 

[blaze1599]

I have heard of this happening. We called up a few weeks ago to get our credit limit increased because of a project and they added 6000 to the limit. Not sure what the avg is but our started at 15K and is now at 21K. Not that we needed that much but its nice to have when I occasionally land a large project. As far as cutting down limits I dont quite understand why they would do this but as long as your credit is ok I think you could call and have it increased.

 

[wall*e2008]

I have heard of this happening. We called up a few weeks ago to get our credit limit increased because of a project and they added 6000 to the limit. Not sure what the avg is but our started at 15K and is now at 21K. Not that we needed that much but its nice to have when I occasionally land a large project. As far as cutting down limits I dont quite understand why they would do this but as long as your credit is ok I think you could call and have it increased.

Honestly it makes sense to me.

Customers A & B have a credit limit of $10K. A tends to carry about a $9K balance and pays the minimum plus $100. B charges $9K and each month pays it off.

A decides they want to buy a large item so they pay off $5K so they can recharge $5K. This is not a normal payment for A. The CC company worries that they will run the card back up and the new rules will hurt their bottom line, so they lower the CC to $5K as soon as they get the payment.

 

[sanapunk]

They haven't lowered my limit yet, but they are raising my APR to over 13% starting in August. I was hoping to have that card to a zero balance by the first week of august. At this point, maybe I should just close it once the balance is paid off.

 

[ccgirl]

They are raising my limit as well. Even though I am NEVER late. I actually have money automatically taken out of my ckg account by them so it's never late. I am pretty upset and was told I could cancel the card but that would actually decrease my FICO score. They said they raised the interest rate because they were taking such a loss from people that weren't paying their debts.

 

[JeMarie6]

I am sure I am in the minority here but I dont think that CC's are the problem so much as the user. This thought could probably be applied to many problems in our society along with the CC's.

I for one use my cc's for everything including about 10K a month in business expenses and pay the cards off at the end of the month. never paid a penny of interest either. The benefit for me is a free disney trip almost every year thanks to the Disney card and a few hundred dollars thanks to the Discover card for spending money or to use as Christmas money.

Just thought I would voice my opinion on the topic.

We may be in the minority, but we're definitely not alone! I have a ton of different credit cards (I think 17 at one time, not sure if its more or less right now). I rarely carry a balance them, but I do have a home improvement project on one of them...Offer was for 2.99% for the life of the loan, much better than any home equity loan offer...I totally use my credit cards (mainly 5 right now) for the different rewards. I know the credit card companies make money from me from the fees, but otherwise I'm very careful with my spending. So far, not had any limits lowered and no interests rates raised yet, but neither one would be much of an issue for me at this point. I just hate it that us frugal spenders end up paying more for people who don't make wise choices. Even if a cc company gave a high limit to someone who didn't really have the income, the cc companies aren't forcing people to charges things to those cards or to those high limits. Its the [poor] choices being made by a number of people [cc users] that are affecting the rest of us