[rabscuttle385]

*Ping!*

[wolfcreek]

Heard of at least 2 different people this weekend complaining of this.

One guy with an American Express (must be paid off every month) $50,000 limit reduced to $5000. He couldn’t fill his trucks with gas for daily ops.

I predict the next major mass murder to be at a financial institution.

[xcamel]

TD Banknorth is going through a rash of this stupidity currently... Dumping them like a bad habit shortly.

[Opinionated Blowhard]

This notion of a “premeditated bust out” where someone runs up a card with no intention of paying it amazes me. I can understand that some people commit fraud and do this, but the idea that the average American would do something like this is sad. More evidence that we have lost the notion of personal responsibility in our culture. Give me something for nothing—that’s the new American Way.

[tubebender]

Did GMAC get a “bail out” today. I just found out our Church has some funds there but only a small amount compared to last year at this time when they spent most of it on a addition.

[yefragetuwrabrumuy]

While the CC companies care more about bust outs, that is a criminal or civil matter. Far more commonly, if one credit card becomes intolerable, consumers just switch to a different card.

For example, recently AMEX got into trouble because of questionable business practices, so it tried raising fees both to cardholders and to retailers. While they lost cardholders, the real pain there comes with the loss of retailers who will accept AMEX.

[Dick Bachert]

I heard one of the talking heads on CNBC declare that the banks have every right to hike an interest rate to 30% if they want to “...because you signed their blank check application and they need the money.”

We need the money, too, so I guess the bank will understand when we file bankruptcy and walk away from their theft ring.

And I fully understand the poster who opined that there will probably be murderous rampages at financial institutions by deranged borrowers who have been pushed to the wall and have nothing else to lose.

[Centurion2000]

Cardholders whose credit limits are cut down to their existing balances may decide that their card bill is no longer a priority for payment, "because that card has no utility for me anymore," said Mr. Bailey, who is retired.

Smart guy.

[hunter112]

"Cutting lines may alienate reliable cardholders, who usually can take their business elsewhere, leaving an issuer with the dregs. "

That's what's going to happen to them if the screw with my credit limits! My balances are always less that a third of my available credit, and way less that that on all but one card I have now. Since it's zero interest until May, no sweat, no worries.