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Sun Dec 16, 2018, 10:00 AM

Credit card interest going through the roof........

I have a Chase card that I've had for years,actually had a 0% rate on it when I first got it which I think was back in about 2012,I've had it a long time. I had balances,I've had zero balances over the years but it's now going to 16.99% at the start of 2019. That's about a 3% hike in one year and I have really good credit.

I have a balance to pay off but luckily peeps can "opt out" of this increase by calling them up and killing the card. Pay the remaining balance at the rate you now have but you can't charge on it. Works for me.

Thanks Trump,I've never seen interest rate increases like these for decades. If he works real hard maybe he can get us back to the 16% mortgage rates,18% on new vehicles like Saint Ronnie did and then yet ANOTHER Republican meltdown.

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Response to Bengus81 (Original post)

Sun Dec 16, 2018, 10:06 AM

1. Another massive corporate screw job under republican maladministration*

* headed up by the eternally ignoble Comrade Dirty Donny,
the deceitful republican Draft-Dodger-in-Chief



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Response to Bengus81 (Original post)

Sun Dec 16, 2018, 10:09 AM

2. I think too many presidents take credit for good economies (like Trump)

and too many are blamed for bad economies.
Recessions tend to be cyclical, occurring on average every five to ten years, so we are likely due for one by now.

Presidents can do things and make decisions that help an economy that's heading in the wrong direction to get there faster.

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Response to elocs (Reply #2)

Sun Dec 16, 2018, 10:21 AM

3. Clinton PROVED you can have a booming economy on tax increase on the rich...

Trump meanwhile gives his Corporate buddies--and HIMSELF a 14% tax cut,and then a fat cut for millionaires which will eventually TANK this economy.

This POS President is a hairs breath away from adding 2 trillion to the ND since he took office after inheriting a stable economy and a low unemployment rate. All the while pimping how HIGH it was under Obama and how he was going to cut it in half in 2-3 years IF voters would put him in office.

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Response to Bengus81 (Reply #3)

Sun Dec 16, 2018, 10:35 AM

6. Fact Check says: " He deserves part of the credit, but many factors were at work."

https://www.factcheck.org/2007/12/clinton-and-economic-growth-in-the-90s/
"What we can say with certainty is that Clinton served as president during the last eight years of a decade-long economic expansion that stands as the longest boom in U.S. history. Clinton saw a gain of nearly 21 million jobs during his tenure (January 1993 Ė January 2001).Certainly Clinton deserves some credit for that remarkable economic growth, but just as certainly he canít claim all the credit. How much he deserves is a matter of opinion that will probably be debated for years to come. By the time he left office, the economy was slowing rapidly, and it slipped into recession in March 2001, just weeks after George W. Bush was sworn in."

A decade-long economic expansion. Kind of has a familiar right to it.

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Response to Bengus81 (Original post)

Sun Dec 16, 2018, 10:27 AM

4. Call and tell them you are switching and why.

If they donít lower it, follow through. Most will switch for long time good customers. At least they used to in the past.

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Response to Bengus81 (Original post)

Sun Dec 16, 2018, 10:35 AM

5. car loans too

my friend just lost her car due to a fire.

she has rather good credit.

her old loan was 1.9
same car...updated about 2yrs old
around 20 grand now 6.0

in her budget is now out of her budget

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Response to Bengus81 (Original post)

Sun Dec 16, 2018, 10:46 AM

7. I never use my card to borrow money.

Only for convenience. I usually pay ahead, when I get my bill I pay it plus the amount I plan to spend the next month. I wonder if anyone else does the same. I've had other tell me that a dumb thing to do because they get to use my money and wait until it is owed. But, like I said, I just use it for convenience. A long time ago I figured out that if I can't afford it, I can wait. By doing that for the last 30 years, I haven't needed credit for cars or a house. Because I don't use it my credit score stays in the middle 800s.

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Response to safeinOhio (Reply #7)

Sun Dec 16, 2018, 11:26 AM

10. I set up automatic bank draft withdrawals for my card balance owed every month

so there is never an interest charge. I use the card for virtually everything I buy except other purchases that are also set up on auto bank draft directly. I stopped using cash or writing checks years ago, it just makes my money management life a lot simpler. I do keep enough cash for small purchases which may be more convenient to pay in cash but that's it. 99% of everything else is set up on auto withdrawals including the card.

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Response to Bengus81 (Original post)

Sun Dec 16, 2018, 11:08 AM

8. Banks and the banksters that operate them are criminals in suits and

ties; no better than the loan shark on a street corner. redumbliCONs historically enable the bankers to financially rape the masses and transfer even a larger percentage of the total wealth to their scumbag wealthiest donors. Bad financial sh't is coming in 2019 and increases in credit card interest rates for people with great credit is only the beginning. This country is a mess!

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Response to Bengus81 (Original post)

Sun Dec 16, 2018, 11:25 AM

9. I normally don't charge anything on my credit card

that I can't pay off when I get the bill and I always wait for zero percent interest before I buy a car.

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