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Eclectic Thoughts from a Homeschool Mom » 2010 » March

Credit Card Interest Rate Craziness

March 27th, 2010

Today we got a notice from our credit card company. Before I go into what lovely news we received from them, I’ll give you some background. My husband and I almost never use our credit cards. We only use them for emergencies (i.e. tires, medical, etc.). We own 3 cards and only 1 has a balance. We have impeccable credit and try to overpay whatever is due each month.

We have two used cars that we were paying on monthly. A while back, we decided to take the remainder due on the cars and do a balance transfer onto our credit card (the one that now has a balance). The amount was into the thousands, but our calculations showed that this was the better way to go with our car payments.

Back to this month. Somehow, we paid our credit card late. I think it was a day, maybe two, late. We’ve been great customers for years, and we felt horrible about paying late. It just happened. However, we overpaid what was due and thought nothing of it. We knew that a late fee would be coming. Now, I know that is the least of my worries.

Back to today’s mail. I open a notice from our credit card company that states because we were late, our interest rate is going to 17.34% from 7.99%!!!!! It doesn’t matter that we have been great customers that always pay more. It doesn’t matter that our payments have never bounced, or that we have a great credit score. I am SO ANGRY, I could spit nails!

Now what? I don’t want to completely cancel this card because I’ve read that doing that would harm our credit score. Do we transfer the balance elsewhere? I was reading that some credit card companies are coming to people and DOUBLING their monthly minimum payment after they are late on a payment. DOUBLING?! I’m about to have a mild heart attack here.

What is this world coming to? You are honest and make one slip up….financial institutions are going to get you back. *deep sigh*

What’s wrong with an honest opinion?

March 19th, 2010

When did our society get to the point where people were afraid to give their opinion?

First, I would like to say that I love websites where you can give your opinion, whether it be good or bad. On one side, I am thrilled to be able to voice my opinion. On the other side, I am disgusted by some of these sites taking bribes.

Our family has dealt with an unsavoury business owner and bad business practices over the last 3 months. We made the mistake of giving over $400 to a business thinking that we would get what we paid for, and in the time we were promised. Umm…that was our first mistake. After being ignored regarding our requests for product update, we had reached our limit of patience. We wanted our money back. Over the next few weeks, we were lied to, had inferior items substituted, and even had the police called on us.

The sad thing is that we could have avoided all of these problems if we had only investigated this business before giving them our money. Had we gone to Citysearch, Google Maps, Yelp, and even the Better Business Bureau, we would’ve seen that HUNDREDS of people had been ripped off as well. Why didn’t we think to look into this company beforehand?

Since going through hell with this company, we felt obliged to share our HONEST opinion (along with facts pertaining to the fiasco) on the review sites. Just like all these other folks that were taken advantage of, we felt that sharing our experience would deter people from making the same mistakes. What happened from our honest opinion? We got a letter from a lawyer.

It would appear that our honest opinion isn’t appreciated by the business that rips off customers. They feel that what we said hurts there business and chases customers away. Our stating the facts and warning people to investigate BEFORE they buy isn’t appreciated. What is wrong with this picture?

Does the First Amendment of our Bill of Rights mean nothing any more? Has our country gone so politically correct that no one can speak out unless it is in a positive light? When the common man is mistreated or falls prey to an injustice, are they to sit quietly and accept their fate?

Maybe it is the fact that I am 40 now. When I see someone being a bully, I want to expose them. There are many in this world that can’t defend themselves. So many of us scrimp and save, or live paycheck-to-paycheck. How dare those villians prey on these people!

I applaud those organizations that make good/bad business practices known to the general public. I wish I had thought to use them BEFORE we gave our money to someone dishonest. I guess I can look at the ordeal as a learning experience. I will also warn everyone that is thinking of making a large purchase to investigate BEFORE spending.

To those that prey on unsuspecting customers, shame on you. Until I am told otherwise, I will give my honest opinion. This goes for those that treat me with respect, and those that lie to my face. Freedom to give my honest opinion is still a right, isn’t it? If you don’t like how people think of you, CHANGE.