Posted on 03/15/2009 11:42:38 AM PDT by Virginia Ridgerunner
If you haven't had the credit limit cut on your credit card recently, count yourself lucky. Risk-averse card issuers are getting slash happy. And while many cardholders gripe that such cuts slice razor-close to their balance amounts, for an unfortunate few the cuts go far deeper: below what they currently owe.
Under different circumstances, David Chaplin-Loebell wouldn't have minded that American Express cut his unlimited credit line to just $5,000. Except that when AmEx reduced his line in October, he had an outstanding balance of $10,000. "I found out by having a business purchase declined," he says. Repeated calls to AmEx failed to yield an answer about why the cut was made. Chaplin-Loebell, who lives in Philadelphia, is now paying the balance under his regular card terms, and presumes the line will free up for new purchases once he's below the limit. "For now, they've essentially frozen the account," he says, leaving him to juggle business expenses on his personal cards. American Express did not respond to requests for comment.
(Excerpt) Read more at finance.yahoo.com ...
I've often thought that an enterprising person could get himself on so many junk mailing lists that he could have his winter fuel delivered for free all winter long. Those big, free catalogs make a very cheery, and long lasting flame.
I know you are joking about global warming, but it's really a problem. I can't remember where I did it, but I did get myself removed from the mailing list for unsolicited loan and credit car offers, which cut some of my junk mail, but I still get other junk by the boxful every week. If we can prosecute spammers (I can delete spam), why can't we get off the list for grocery ads, local coupons, and catalogs? I'm not an eco-nut, but that can't be good for trees.
Don't insult scum like that.
He should have all of his credit cut off for having a hyphenated name.
In our community we have "Recycle Bank". Our recyclable trash gets weighed, and we receive electronic credit by the pound. As we accumulate points, they can be redeemed for coupons, such as 25% off a $20 purchase at our local drug store. I've been less motivated to get off of junk mail lists since we went on the point program, and when I see empty glass bottles and jars, I bring them home to put in my trash!
I did the opt out of credit card mailings. I now have several hundred less pieces of junk mail per year.
Love it.
Cut them up, cut them off....ASAP!!
The Law of Unintended Consequences strikes again. Sign up for more junk mail!! Get rewarded with more Recycle Points!!
Chase is now owned by “Crapital One” so expect a lot of changes in your service.
I will usually stuff their post-paid envelopes with other junk mail - my name removed, of course - and mail them back. At least then they have to pay for that return postage. If enough people would do this, the endless offers would quit coming.
Sorry, MasterCard
Something must be up with them.
We never use credit cards, but they keep increasing our limits, too. I guess you only get it when you don't want it.
By not crediting payments promptly, they can claim you're late, jack up your interest rate, and assess you penalties.
Simple - and dirty.
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