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Dec 30th, 2023
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 How about a 29.9% interest rate credit card?
#14982350
02/08/24 10:57 PM
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Joined: Apr 2011
Posts: 948
JWRid
OP
Pro Angler
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OP
Pro Angler
Joined: Apr 2011
Posts: 948 |
I received an ammendment letter yesterday notifying me the interset rate on my Home Depot/Citi Bank credit card will now be 29.9% on unpaid balances. Fortunately I do not carry any balance on this card or any of my cards but many people do. How can anyone who charges and carries a balance pay this rediculous rate? In my opinion this is legalized theft.
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 Re: How about a 29.9% interest rate credit card?
[Re: JWRid]
#14982352
02/08/24 10:58 PM
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Joined: Dec 2008
Posts: 17,842
grout-scout
TFF Guru
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TFF Guru
Joined: Dec 2008
Posts: 17,842 |
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Re: How about a 29.9% interest rate credit card?
[Re: JWRid]
#14982354
02/08/24 10:59 PM
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Joined: Nov 2002
Posts: 57,846
RayBob
Super Freak
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Super Freak
Joined: Nov 2002
Posts: 57,846 |
I have over a half a dozen credit cards. I haven't carried a balance in over 40 years.
Advice? Wise men don't need it. Fools won't heed it !
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Re: How about a 29.9% interest rate credit card?
[Re: JWRid]
#14982359
02/08/24 11:01 PM
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Joined: Jun 2020
Posts: 16,287
grandbassslayer
TFF Guru
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TFF Guru
Joined: Jun 2020
Posts: 16,287 |
I received an ammendment letter yesterday notifying me the interset rate on my Home Depot/Citi Bank credit card will now be 29.9% on unpaid balances. Fortunately I do not carry any balance on this card or any of my cards but many people do. How can anyone who charges and carries a balance pay this rediculous rate? In my opinion this is legalized theft. I’ve yet to see Home Depot associates holding guns to people’s heads forcing them to swipe their cards…
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Re: How about a 29.9% interest rate credit card?
[Re: JWRid]
#14982360
02/08/24 11:02 PM
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Joined: Mar 2006
Posts: 11,103
reeltexan
TFF Guru
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TFF Guru
Joined: Mar 2006
Posts: 11,103 |
I got one of those 25 years ago. Going from 9% to 26% because the payment got there two days late.
I asked for the balance, sent them a check and never carried a balance with any card again.
Pay 'em off and keep your money in your pocket.
It adds up really quick.
"..The pleasantist angling is to see the fish
Cut with her golden oars the silver stream,
And greedily devour the treacherous bait.
Bill Shakespeare![[Linked Image]](http://s4.postimage.org/f0dhseas/P1120145.jpg)
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Re: How about a 29.9% interest rate credit card?
[Re: JWRid]
#14982410
02/09/24 12:01 AM
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Joined: Feb 2008
Posts: 15,189
DanXB-21
TFF Guru
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TFF Guru
Joined: Feb 2008
Posts: 15,189 |
Heck, I'll admit it... When the wife first started out and had a couple of crumb crunchers we carried a balance to make ends meet... A few tax refunds went solely to pay off CC balances... What were the rates in the late 80's, early 90's???... I feel for the folks just starting out, have a few kids... I just hope they have a Plan B because interest rate and inflation are going to eat some people alive... Dan
"The problem with having a sense of humor is often that people you use it on aren't in a very good mood"...
Lou Holtz
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Re: How about a 29.9% interest rate credit card?
[Re: JWRid]
#14982463
02/09/24 12:55 AM
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Joined: Jan 2018
Posts: 5,265
Notaguide
TFF Celebrity
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TFF Celebrity
Joined: Jan 2018
Posts: 5,265 |
i recently got the same notice. haven’t used that card in years
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Re: How about a 29.9% interest rate credit card?
[Re: JWRid]
#14982467
02/09/24 12:59 AM
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Joined: Jun 2011
Posts: 5,751
H2O Seeker
TFF Celebrity
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TFF Celebrity
Joined: Jun 2011
Posts: 5,751 |
Got my letter today too. Has been handy for no interest promos but set it up to pay off well before the term.
![[Linked Image]](http://texashuntingforum.com/forum/images/graemlins/default/texas.gif) Grateful for every sunrise and sunset I get to witness. - Jason
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Re: How about a 29.9% interest rate credit card?
[Re: DanXB-21]
#14982475
02/09/24 01:09 AM
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Joined: Feb 2008
Posts: 6,045
Jaredk
TFF Celebrity
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TFF Celebrity
Joined: Feb 2008
Posts: 6,045 |
Heck, I'll admit it... When the wife first started out and had a couple of crumb crunchers we carried a balance to make ends meet... A few tax refunds went solely to pay off CC balances... What were the rates in the late 80's, early 90's???... I feel for the folks just starting out, have a few kids... I just hope they have a Plan B because interest rate and inflation are going to eat some people alive... Dan Anybody can hustle to avoid this if they really wanted to
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Re: How about a 29.9% interest rate credit card?
[Re: JWRid]
#14982628
02/09/24 04:00 AM
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Joined: Jun 2015
Posts: 16,878
Kicker16
TFF Guru
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TFF Guru
Joined: Jun 2015
Posts: 16,878 |
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Re: How about a 29.9% interest rate credit card?
[Re: JWRid]
#14982710
02/09/24 11:32 AM
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Joined: Oct 2005
Posts: 86,137
John175☮
MACHO MAN
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MACHO MAN
Joined: Oct 2005
Posts: 86,137 |
Haven't seen those rates since Carter.
Stress less, relax more. Go fishing.
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Re: How about a 29.9% interest rate credit card?
[Re: JWRid]
#14982723
02/09/24 11:57 AM
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Joined: Sep 2005
Posts: 28,109
Uncle Zeek
aka "Mom"
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aka "Mom"
Joined: Sep 2005
Posts: 28,109 |
Yeah, some of our cards have sent notices that their rates are going to 24.99% etc. Funny thing is that in previous years, a phone call would get them to come back down to something realistic, say anywhere from 14-18%.
Now however, the phone calls are along the lines of "dear customer, take it or leave it", even with FICO scores of 750+.
The lesson here is that if you have to carry a balance, only do so on 0% offers or low fixed rate cards.
"Decency is not news; it is buried in the obituaries --but it is a force stronger than crime" ~ Robert A. Heinlein
Artim Law Firm, PLLC
Estate planning & tax attorney AND 07/02 FFL
2250 Morriss Road, Suite 205, Flower Mound, Texas 75028
972-746-0758 mobile
zac@artimlegal.com
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Re: How about a 29.9% interest rate credit card?
[Re: JWRid]
#14982724
02/09/24 12:01 PM
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Joined: Apr 2017
Posts: 15,056
tmd11111
TFF Guru
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TFF Guru
Joined: Apr 2017
Posts: 15,056 |
No idea what the interest rate is on my card, pay them in full every month and I guess it dont matter.
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Re: How about a 29.9% interest rate credit card?
[Re: JWRid]
#14982727
02/09/24 12:04 PM
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Joined: Feb 2008
Posts: 18,528
krawlin 47
TFF Guru
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TFF Guru
Joined: Feb 2008
Posts: 18,528 |
Cash is always king baby!
Whether you think you can or you can't, you are probably right.
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Re: How about a 29.9% interest rate credit card?
[Re: JWRid]
#14982742
02/09/24 12:28 PM
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Joined: Aug 2021
Posts: 5,383
Flip Flop Fisher
TFF Celebrity
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TFF Celebrity
Joined: Aug 2021
Posts: 5,383 |
defaulting on paying your bills seems to be an option that is becoming socially acceptable..if the dems could get 4 more years, and they might, mark my words a credit card bailout is coming
Last edited by Flip Flop Fisher; 02/09/24 12:29 PM.
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