I am sure I am not alone out there in the credit card world. I do understand the tightening of the belts of these credit card giving banks but why do you penalize the people who pay on time and who are faithfully making you money.
I have received numerous new “terms” from a couple select cards and one card that lowered my limit. Lowering my limit looks like I did something wrong to other creditors out there, which to me is pure bullshit. The new terms are from banks such as Bank of America, Chase and Barclays stating that if I was to be late a payment, default by just one day over the due date my new APR would be 26.00% or 29%. The one thing I would love to do is call them and tell them to shove it, to cancel my accounts with them. I am a paying customer, they get their money back and they are going to tighten the ropes with new terms.
Larger late fees and overage charges. A whole slew of money they want from me, the good paying credit card customer.
UGGGG
I thought I was the only one who noticed this. I’m pretty angry.
Seems they have decided to make up the difference of what they are losing on people who don’t pay by taking it out on those who do. So wrong!!
I am not one to pay anything late but god forbid for some reason I forget my payment and I am 2 days late. I now will get a higher fee for being late plus a blessed 26.99 percent APR.