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RE: Sign of the times ... credit card company write downs

Postby average_joe » Sat Jul 18, 2009 03:35:07 PM

I would tell the credit card company that’s their problem not yours that the market conditions have changed .I like they way the corporate world likes to pile on their mistakes on to the consumers. I believe the economy is not going to look good till 2015.The consumer is finally waking up and it starting to save their money again, instead of wasteful spending.

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RE: Sign of the times ... credit card company write downs

Postby montyloree » Sat Jul 18, 2009 03:03:25 PM

lol....

even my interest rates have gone up with some cards... the credit card companies are telling me that it's market conditions....

Anyway... I'll have to contact each creditor in the next six months and ask them to get my rates down again.
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RE: Sign of the times ... credit card company write downs

Postby average_joe » Sat Jul 18, 2009 01:18:58 PM

I don't notice higher interest rates; because I don't have a credit card .If everyone would hand in their credit cards for a year, the interest rates would fall below 10% within a year.

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Sign of the times ... credit card company write downs

Postby montyloree » Sat Jul 18, 2009 12:05:36 PM

I watch CNBC & BNN regularly, and it's interesting with the current earning season that many of the major lenders are taking huge write downs.

I get a sense that these companies are losing billions of dollars on commercial loans, credit card loans, mortgages etc.

I'm thinking that this is going to change the structure of the lending institutions going forwards. IE.... credit card companies are going to have to charge higher interest rates and fees going forward.

Is anybody noticing their credit card interest rates going higher?
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