HELP- Balance transfer??

Discuss anything related to interest rates & fees, like balance transfer offers, low rate cards, annual fees, etc.
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HELP- Balance transfer??

Postby pokerdude069 » Tue Aug 11, 2009 6:30 pm

my current situation- I have a 7500 limit on my capital one card and balance is 6000 and they just jacked up my rate to 24% !(the last 12 months ive given capital one 2700 in payments and about 1200 went to finance charges!) I called them about lowering my rate but they said theres nothing they could do. There is no way im going to continue this bullshit, im paying 190 a month and my balance is bearly going down. im only 25 and my credit score is only 656 also. What are my options?? Can i even be approved for a 0% balance transfer on another card or should i try a credit union? Any help would be much appreciated. Thanks.

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Postby AnthonyBarone » Wed Aug 19, 2009 9:01 pm

With a 656 score that's gonna be a hard one bud. My wife has a score around that and she can't get anything. Credit unions arent a bad idea but theyve even gotten tighter than the banks nowadays. I don't think there's anything out there right now for that score maybe look into a personal loan or if you have anything you can cash out to pay it off.

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Mogul of Pineapples
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Postby Mogul of Pineapples » Mon Aug 24, 2009 10:58 pm

Yeah with that credit score it's going to be difficult getting any card right now. Right now anything below a 700ish can't even get any credit card.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

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Mrs. GoodCash
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Capital One Jacking Up Interest Rate

Postby Mrs. GoodCash » Wed Aug 26, 2009 7:30 am

Mogul of Pineapples wrote:Yeah with that credit score it's going to be difficult getting any card right now. Right now anything below a 700ish can't even get any credit card.

Ah . . CapOne. (Which is also spelled Capone! LOL. Is there anyone here old enough to know who that is?) And we all thought Citibank was a real stinker when it came to predatory banking practices!

O.K. here's what some credit card companies are doing in order to "renegotiate" the cardholder agreement. One of my clients just had a credit card rep tell her that if she defaulted (1 month), they would cut her monthly payments in half and freeze interest and finance charges - 0%.
Her problem when it came to negotiating the account? She always made her monthly payments on time! She'll get a tick on her credit report, but as long as she makes her monthly payments on time, in 6 months she'll be good to go. Having been in this biz a long time, there's more than one way to skin . . er . . find a way around a problem.

P.S. If you want a good read about credit card companies check out :
National Consumer Law Center (National Consumer Law Center). Follow the links for consumer debt and see what they had to say to Congress about credit card companies.

Mrs. GoodCash
"Wealth is the ability to really experience life." Thoreau

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