Find a Credit Union With Lower Interest Rates and Fees

Thanks for tip on credit union. It might be a good option. But overall, I believe that my generation - Gen X - has learned a hard lesson and will not have credit cards again once we pay them off. We will also teach our children not to use them either. The banks better find a new model for making money - their consumer abuse will ultimately result in the end of that industry as we know it.

I am so hooked on my credit union that now I live about 2000 miles from the nearest office they're still my bank. The only problem with credit unions is finding one big enough to be stable and run professionally. Otherwise - they're nonprofit banks and their interest rates and fee structure reflects that.

I switched every thing from #### to my local credit union after #### raised my interest rate. I'm another good customer (paid on time, good credit score) that absolutely refuses to play with what amounts to legalized loan sharking. I no longer buy the BS the banks are handing out with the excuse that defaults are up. There is only one reason the big banks are doing this. Greed!!! like the news report said, in February they have to pay by the new rules so they plan on raping as many people as possible until then.

They took our money from the bailouts, now they are taking our money by writing a new banking policy. A good time for us to say no more, and the Federal Government with the Federal Reserve must act now to prevent this stickup. Greed, Greed enough is enough. We the people have the power to stop all of this yet we are waiting on somebody other than you and I.

Over the past several months I have had 2 credit card companies double my interest rate from around 15% to 30%. I have always paid on time and have been a good customer for many years. When I called and complained I was basically told tough. I not only decided to opt out of the increases but also I have been throwing every extra penny to pay the cards off. Once card balance I have decreased by over $1200.00 and will have it paid off in the next couple of months. I dont want those banks to get one extra penny from me. They not only lost a good customer but a lot of money since I usually used my cards and kept a balance.

It makes me laugh to hear the banking representative say the reason the banks are raising rates is because of the number of defaults. I expect that when you double peoples interest rates the consequence is that more people will default. There are so many people living on the edge right now that the slightest increase in such things like the minimum payment make it harder for people to keep current. It starts a vicious cycle.

I have to say the predatory practices of the bank have been a good thing for me and my family. We have decided to pay off all our credit debts and live debt free. The banks dont appreciate customer loyalty? Thats ok. I know a hotel in Hawaii that does from all the money we are going to save.

Wow, I think there is an option all are forgetting, taking it to them. Having worked for a major credit card company I knew what they were after, and it is simply money. But when you hang it over their head that they will get their money at a rate you specify, simply wait them out. I did this with a major card company holding me at 17.25% from a fixed 2.99% So I waited for a month and ahalf without any credit affects on my card after speaking with them 3 times. They called me. So I now have in my hand a zero percent letter for first year than to 7.99% after that, however I will have it paid by then. If there is one thing they love its there money. I have no problem paying them but they arn't going to loan shark me because of their bad business decisions, and yet they also take TARP and want to strap it on our backs. Not happening here. They don't even want to get into discussing unsecured capitol with me. Thanks to all.

Adding to this, consumers are in a no win situation with this legislative act and provisions the card companies are acting on now. If you don't opt out you pay the higher rate unless you want to take them on. If you do opt out, your account is closed. Closing an account regardless of any term, good standing or not results in hurting your credit score. Aren't you glad we have geniuses in government?

Let's keep in mind that "we" as consumers have done this to ourselves by buying more than we can afford. "We" chose to get the card, "we" chose to buy stuff, and "we" chose to not pay it off. Each of us needs to stop playing the victim and start taking responsibility for our own actions. Stop using them, do what we have to do to get them paid off, and than we don't have to worry about how much the rate is.

If you want to talk about legal loan sharking, just take a look at the PayDay Loan stores. These guys make CC companies look like a charity.

It is Veterns Day and the news started with airline problems. What about our Vets. Not only our World War 11 Vets, but Vietnam Vets as well or do we forget about them all over again. As well as our troops now fighting for our freedom once again. The people in this country should pay a little more attention to our Guys and Gals who put themselves in harms way so we can be a free Country. We've had many that were in the Service of our Country in peacetime as well, but they knew they could be put in Harms way as well. We should spend more time giving thanks to them. And right now with what just happened at Fort Hood, our troops didn't even have the chance to fight, they were killed at home. Yet everything else is so much more important on Veterns Day, then Our Troops and Vertens.

The greatest way to see to this condition should be to talk to the credit card company openly and try to agree on a resolution or settlement method. By cooperating with the creditor, you are mounting your likelihood of settling this debt peacefully and forestalling having a low credit rating from the creditor.

My wife just got a letter from Citibank telling her that the rate on her card is going up to 24%! This is absolutely absurd. So, the benefit for being a good customer, paying your fees on time and having a card for more than 15 years is not cash back, it is bigger APR's! Wonderful. Please call the police for me, because CITIBANK is raping my wife right in front of me.