Termyn8or
Posts: 18681
Joined: 11/12/2005
Status: offline
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Cap One called me on the phone last month. They IDed me ON TAPE and asked :
If you go over the limit it will result in a $29 fee, per month unless and until the balance is brought within the limit. Or would you rather we decline the transaction ?
I told them to just pay it, because if I am using it there is a reason. With the new understanding, now the card effectively has no limit at all. But if I buy a house or something for thrity grand, my next minimum payment will be be thirty grand plus thirty bucks. It's that simple. In a way it's like having one of the original American Express cards.
Federal law has changed and I have gotten notices from just about all my creditors about things like this. It really doesn't change things much, but the rules have changed slightly.
Tell you who's trying to treat me good right now - Citibank. They sent me checks at 3.9, then 2.9, and then 1.9 and 0.9. Now they have sent me checks for 0.0% ! It's only good for about a year, but what could I do with a year ? The limit on that card is well over twenty five grand and there is about nineteen left on it. I am thinking house, maybe.
Remember what my Dad taught me, when you walk into a bank, you are the CUSTOMER. You are how they make money. You are not some poor little waif they found laying on the side of the road. And in this case, you can take my Dad's words to the bank, literally.
T
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Any BofA customers here? - 
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