The CC company or dumb and mean!!

[staron]

They see what is going on but want make better deals leaving people like me to filea bk,bofa want move .But it was stated on the news people are walking away from there debt.I got no job,house two bad hips about to have one replace.Sent BOFA my med reports you think they would have giving me a better raTE OR Put me in a hardship program.I am starting to get very sad over this,I may need to see a head DR

[DeadManCrawling]

Staron, youre right.

CC companies are both dumb AND mean in my opinion. I don't think it's intentional though.

They are used to doing business the "old way" which mostly means THEIR way. I think we are headed into a new era and these companies will come to their senses too late. I am looking for many of them to fail because of the issues you bring up. In previous times, defaults were much lower, so it meant little to them if a handful of customers hated them or were experiencing circumstances that required lower rates or payments.

These days, the numbers are in the millions, though, and when the crap really hits the fan, it will be interesting to watch the bricks tumble.

[falken]

I made a simple request from BOA. My wife lost her job and unemployment had not kicked in yet, I asked to be able to pay 2 weeks late without my APR going to default.

They said there was nothing they could do for me. I either paid today or my 5% APR would go to 30%. Now, i'll admit, all my credit card balances were really high and I was way over extended, but the increase in APR meant I could never pay the minimum payment agian.

In the end, I couldn't have an extra 2 weeks to pay and they never saw another dime on my $50k in balances. I'm not sure how that makes good business sense.