http://masteryourcard.com/blog/2008/07/08/top-10-worst-credit-card-practices/ The best Credit Card Debt Blog online Wed, 02 May 2012 03:22:04 +0000 hourly 1 http://wordpress.org/?v= http://masteryourcard.com/blog/2008/07/08/top-10-worst-credit-card-practices/comment-page-1/#comment-64519 guide917 Sat, 15 May 2010 04:57:57 +0000 http://masteryourcard.com/blog/2008/07/08/top-10-worst-credit-card-practices/#comment-64519 want to lower your interest rate or have a bank fee waived? inform your bank that the reason why you miss the payment due date was because of a family medical emergency and they usually waive the fee for you. Also with the new credit card law, you can take advantage of a balance transfer offer and pay the same account since all your payment above the minimum payment due is allocated to pay off the higher interest first then to the lowest ;) want to lower your interest rate or have a bank fee waived? inform your bank that the reason why you miss the payment due date was because of a family medical emergency and they usually waive the fee for you. Also with the new credit card law, you can take advantage of a balance transfer offer and pay the same account since all your payment above the minimum payment due is allocated to pay off the higher interest first then to the lowest ;)

]]> http://masteryourcard.com/blog/2008/07/08/top-10-worst-credit-card-practices/comment-page-1/#comment-13758 R Mcleod Thu, 22 Jan 2009 13:51:49 +0000 http://masteryourcard.com/blog/2008/07/08/top-10-worst-credit-card-practices/#comment-13758 another scam is offering you a special pro-mo rate of say 3.4% on new purchases. What happens is from the time you make a purchase under that special offer you have just raised your intrest rate 3.4%. All your payments from that point go to the lower rate purchase while your old balance goes stagnent at the higher rate. When the pro-mo expires you are deeper in debt and paid more intrest on your old balance. A total rip off. HSBC pulled this on me because I was angry about them doubling my intrest rate trying to make me think they were doing me a favor. They don't tell you that in effect you have just volentarily raised your intrest rate 3.4%. I caught on shortly after accepting this rate and doing the numbers. By being persistant I finally got them to remove trhe pro-mo offer but it took several calls and told several times I could not nulify the deal. someone finally admited that I could revoke my agreement. another scam is offering you a special pro-mo rate of say 3.4% on new purchases. What happens is from the time you make a purchase under that special offer you have just raised your intrest rate 3.4%. All your payments from that point go to the lower rate purchase while your old balance goes stagnent at the higher rate. When the pro-mo expires you are deeper in debt and paid more intrest on your old balance. A total rip off. HSBC pulled this on me because I was angry about them doubling my intrest rate trying to make me think they were doing me a favor. They don’t tell you that in effect you have just volentarily raised your intrest rate 3.4%. I caught on shortly after accepting this rate and doing the numbers. By being persistant I finally got them to remove trhe pro-mo offer but it took several calls and told several times I could not nulify the deal. someone finally admited that I could revoke my agreement.

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