i extend a long finger

[skunk237]

J P Morgan Chase can go fuck off right now. it seems that they, along with almost all large banking "entities", got themselves into financial trouble recently. but hey, it's not my fault they lost untold billions, right? i've been consistantly paying my debt with them at, or slightly above, the minimum payment... at a low interest rate that they

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[funkbunny]

Many credit lenders are trying to get a few last-ditch efforts in before the new credit laws take effect - by imposing new fees, reducing limits, raising rates, or straight up closing people's accounts that no longer meet their "minimum standards for lending" despite being customers for years, despite flawless payments (even if they were minimum payments at times), and despite the consumer trying to get on top of their debt.

I admit, my recent experiences with AmEx were less than optimal and while it sucks, I'm re-framing it as debt that's permanently paid off. :)

[skunk237]

that would make sense if i somehow no longer meet their standards. but with a recent credit score of 757...? if that doesn't meet their standards, i wonder how elitist do they think their brand is? they aren't even what AmEx makes themselves out to be ;)

[funkbunny]

AmEx is fucking retarded - you'd be surprised how high they want your credit score. The clincher for me was that we never had a late payment, we were actively making larger payments as we were able to improve not only our debt situation but our credit score by way of debt-to-available ... and they kept slashing our limit every time we made a significant payment (thereby keeping us in a negative credit situation). Then they said we're a poor risk because we had a single 30-day late ..... 7 years ago. No matter - they don't want anyone with even a hint of a late payment no matter how far back it goes. If it shows up, they count it against you as if it happened yesterday.

I will say the first time AmEx slashed our rate it was because our mortgage lender has a high incidence of defaults ... and our mortgage lender is Chase. :P

Haha ... ok I'm over it. :)

[skunk237]

lol... yeah, i don't know about Amex. once upon a time, they kept sending me offers that i would read, laugh at, and shred. horrible terms.

but ooooooooooooooh, the prestige! lol

[skunk237]

the notice was snuck in my November/December online statement (i don't receive paper). i say "snuck in" because to find this jewel, i had to go back to an online statement that didn't have the service charge... and waaaay off to the side was a tiny, generic-looking link to a PDF - giving me notice of the raise in minimum payments and the mysterious service charge.

i'm glad they're not doing this to everyone, especially you.

then again, who knows? maybe they're screwing everyone incrementally (to ease their switchboards) and i'm part of an earlier batch, and your batch is yet to be affected...? just a cynical guess.

one thing's for certain though; i can't be the only one they're doing this to. they'd provide a reason, i'm sure.